We focus on corporate political connections as a critical nonmarket strategy and propose that political ties can facilitate firms’ strategic competitive actions but may also hurt the outcomes of such actions, depending on whether the ties are associated to central versus local political...

Extensive replication is essential to ensure the reliability and validity of research and for rigorous theory development, particularly for pre-paradigmatic social sciences such as strategy. Yet, relatively few strategy replication studies have been published. We build on recent calls for...

Managers of biotechnology companies face great technological and market risks in making investment decisions. Traditional investment decision tools such as the discounted cash flow (DCF) approaches are often deemed insufficient in the face of the highly uncertain environment surrounding...

Acquisitions are competitive moves that disrupt an industry’s competitive structure. As a result, firms are often not passive observers of their rival’s acquisitions, but actively retaliate against such competitive moves. In this study, we explore these dynamics by analyzing one way in which...