Long Range Planning最新文献

{"title":"Patent citations and acquisition premiums: A screeningperspective","authors":"Manjot S. Bhussar ,&nbsp;Brian C. Fox ,&nbsp;Sergio Grove","doi":"10.1016/j.lrp.2025.102534","DOIUrl":"10.1016/j.lrp.2025.102534","url":null,"abstract":"<div><div>While extant acquisition literature explores how intentional signaling between the acquiring and target firms can influence acquisition outcomes, we examine how unintentional information revealed through prior actions taken long before an acquisition is contemplated – specifically patent citation patterns between the firms – influences acquisition outcomes. We argue that targets can screen patent citation imbalances between acquirer and target to reduce information asymmetry regarding potential joint value creation. When the acquirer cites the target's patents more than the reverse, the target is better able to infer knowledge dependence or private synergies stemming from the complementary knowledge bases of each firm. The reduction of information asymmetry permits the target to capture a higher acquisition premium justified by these anticipated synergies or dependencies. Using a sample of acquisitions between US high-tech firms from 2005 to 2021, we find support for our thesis when the acquirer's patent portfolio is diverse.</div></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"58 3","pages":"Article 102534"},"PeriodicalIF":7.4,"publicationDate":"2025-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143924571","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Sustaining authenticity while enabling adaptation: Discursively navigating strategy-identity tensions over time","authors":"Bart De Keyser ,&nbsp;Ann Langley","doi":"10.1016/j.lrp.2025.102533","DOIUrl":"10.1016/j.lrp.2025.102533","url":null,"abstract":"<div><div>Over time, environmental pressures may push organizations to engage in strategic actions that diverge from their foundational identity claims. In such circumstances, organizations experience tensions between pressures for authenticity on the one hand, and pressures for adaptiveness on the other. Such pressures are likely to be of particular importance for organizations that have historically laid claim to a strong social mission. Drawing on a longitudinal study of a large cooperative financial services organization, this study examines how leaders discursively navigate strategy-identity tensions when strategic actions appear inconsistent with historically valued identity attributes. We identify three types of discursive practices leaders may engage in to navigate strategy-identity tensions: (i) pacing; (ii) sensegiving; and (iii) revising. In so doing, we show how leaders may work to enable strategic actions that might be perceived as contrary to key organizational identity attributes, with each of the practices serving different and complementary roles. At the same time, we show how successive recalibrations of the grounds for authenticity enacted in practices of pacing, sensegiving and revising can result in claims of organizational distinctiveness that while continued and insistent, could also become increasingly contestable.</div></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"58 3","pages":"Article 102533"},"PeriodicalIF":7.4,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143947713","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A review of cognitive biases in strategic decision making","authors":"Devaki Rau ,&nbsp;Philip Bromiley","doi":"10.1016/j.lrp.2025.102529","DOIUrl":"10.1016/j.lrp.2025.102529","url":null,"abstract":"<div><div>This paper presents an integrative review of empirical research (2000–2023) on cognitive biases that affect decision makers in established organizations as they make strategic decisions. We examine patterns in the measures, antecedents, and outcomes of two broad categories of biases: systematic biases that operate similarly across individuals (e.g., overconfidence, escalation of commitment, loss aversion, and myopic loss aversion), and idiosyncratic biases that depend on the decision maker's experience and past interactions (e.g., myopia and local search bias). We also distinguish between findings with strong empirical evidence and those with less empirical support. Our review indicates researchers measure both types of bias using one or more of three broad approaches: assuming or inferring the bias, measuring it directly, and experimentally manipulating the bias and observing its effects. We find strong empirical support for firm ownership, performance or performance relative to aspirations, and CEO compensation and wealth as antecedents to loss aversion and myopic loss aversion. We also find that loss aversion has strong but mixed effects on outcomes such as diversification or internationalization, acquisitions, R&amp;D intensity or investments, and risk taking. Findings with less empirical support include, among others, mostly mixed effects of loss aversion and framing on innovation, mostly positive effects of overconfidence on innovation and risk taking, and negative effects of overconfidence on corporate social responsibility, performance, and forecasting. Based on our findings, we discuss the challenge of identifying and measuring a bias in a way that is relevant to strategic management and suggest directions for future research.</div></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"58 3","pages":"Article 102529"},"PeriodicalIF":7.4,"publicationDate":"2025-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143882571","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Dynamic Strategifying: How do Chief Purpose Officers make purpose strategic and strategy purposeful?","authors":"Nicole Steller ,&nbsp;Albena Björck","doi":"10.1016/j.lrp.2025.102532","DOIUrl":"10.1016/j.lrp.2025.102532","url":null,"abstract":"<div><div>The increasing institutionalization of corporate purpose by appointing Chief Purpose Officers (CPOs) signifies a pivotal transition in corporate priorities, emphasizing the imperative of purpose-driven management. The literature highlights the crucial relationship between strategy and purpose, where strategy embeds purpose within organizational frameworks and purpose guides strategic decision-making. However, knowledge about practices that couple purpose and strategy is scarce. Primary research has not addressed elite strategists responsible for embedding purpose to examine their work through which purpose becomes strategic. Based on 44 in-depth interviews with CPOs from various industries, company sizes, and countries, our study is the first empirical investigation into the strategic practice of CPOs. Grounded in the Strategy-as-Practice tradition, we focus on the phase of strategy emergence and identify strategifying work, wherein new notions, such as purpose, are coupled with strategy. Our results showcase a diverse range of strategic practices presented by CPOs around four interrelated dimensions – cognitive, emotional, relational, and material – altering the strategic boundaries of the organization. The contributions of our study are threefold. First, we introduce the double-loop interaction between a notion, in our case, purpose and strategy, emphasizing a dynamic perspective on strategifying. Second, we expand the strategifying framework by <em>Emotional Coupling</em>, highlighting emotions’ role in coupling purpose and strategy. Third, we contribute to the emerging purpose literature by demonstrating how the four dimensions of strategifying work are interrelated and overlapping, collectively shaping and reinforcing a culture of purposefulness within the organization.</div></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"58 3","pages":"Article 102532"},"PeriodicalIF":7.4,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143886682","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Sourcing smart through project manager structures: The role of managerial direction multiplicity in Korean popular music industry","authors":"Hyundo Choi","doi":"10.1016/j.lrp.2025.102528","DOIUrl":"10.1016/j.lrp.2025.102528","url":null,"abstract":"<div><div>Internal development project organizations are likely to have a pre-defined internal goal to optimize the use of internal resources while joint development project organizations tend to have a flexible goal to take advantage of diverse external resources. In this situation, the managerial direction multiplicity of project managers (i.e., convergent or multi-faceted directions) reflected in their organizational structures can affect the effectiveness of sourcing strategy differently. Three key structural components of project managers—project manager group size, prior interactions among project managers, and managerial authority split—were chosen to examine their impact on project market performance by two sourcing strategies. Empirical evidence from the Korean popular music (K-Pop) industry for the period 2004–2013 at the album project-level supports that project manager structures offering multi-faceted directions improve project market performance more for joint development projects, while those offering convergent directions improve performance more for internal development projects. This study highlights the importance of project manager structures in sourcing strategies by theorizing managerial direction multiplicity as a key mechanism.</div></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"58 3","pages":"Article 102528"},"PeriodicalIF":7.4,"publicationDate":"2025-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143785960","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Developing resilience with modular logic for the internationalization of platform MNCs","authors":"Yong Lin ,&nbsp;Yi Sun ,&nbsp;Yongjiang Shi ,&nbsp;Gu Pang ,&nbsp;Jing Luo","doi":"10.1016/j.lrp.2025.102530","DOIUrl":"10.1016/j.lrp.2025.102530","url":null,"abstract":"<div><div>In the digital era, platform-based multinational corporations (PMNCs) have risen to global prominence, fundamentally differing from traditional multinational corporations (TMNCs) in their business models, internationalization strategies, and external environmental challenges. These distinctions demand specialized capabilities to navigate the complexities of global markets. Modularity has emerged as a critical mechanism for fostering resilience in PMNCs, equipping them to adapt and thrive amid international uncertainties. This study presents a conceptual framework grounded in the Structure-Conduct-Performance (SCP) paradigm, dissecting resilience development and enhancement into three modular layers: technical architecture, organizational structure, and market configuration. By exploring the synergistic interactions among these layers, the framework reveals how their alignment enhances scalability, flexibility, and adaptability, collectively underpinning the internationalization resilience of PMNCs. This research contributes to a deeper understanding of modularity's role in supporting global growth and offers strategic insights for navigating the volatile landscape of international business.</div></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"58 3","pages":"Article 102530"},"PeriodicalIF":7.4,"publicationDate":"2025-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143748552","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"How does digital new venture's customer orientation enhance strategic agility? The roles of strategic learning","authors":"Runping Guo ,&nbsp;Peng Lu ,&nbsp;Jing Zhang ,&nbsp;Ziqing Feng","doi":"10.1016/j.lrp.2025.102527","DOIUrl":"10.1016/j.lrp.2025.102527","url":null,"abstract":"<div><div>The existing literature highlights the importance of customer orientation in enhancing strategic agility. However, certain studies have highlighted the adverse effects of customer orientation, particularly for resource-limited digital new ventures. This study aims to reconcile these divergent views by differentiating strategic agility into two dimensions: entrepreneurial agility and adaptive agility. This study attributes the varying effects of customer orientation on these two types of strategic agility to different mediating roles of strategic learning. While strategic learning enhances entrepreneurial agility, it has an inverted U-shaped impact on adaptive agility. Furthermore, the study suggests that market turbulence moderates the effects of customer orientation. Survey data from Chinese digital new ventures supports the hypotheses. This research contributes to the agility literature by proposing strategic learning as an internal mechanism through which customer orientation influences strategic agility. It also highlights the impacts of external environmental conditions. The theoretical framework provides a harmonious explanation for the contrasting effects of customer orientation, offering valuable managerial insights for improving strategic agility.</div></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"58 3","pages":"Article 102527"},"PeriodicalIF":7.4,"publicationDate":"2025-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143738030","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Scratching the surface: Multinational enterprises and federalist political systems","authors":"Christopher A. Hartwell ,&nbsp;Ziko Konwar ,&nbsp;Timothy M. Devinney","doi":"10.1016/j.lrp.2025.102526","DOIUrl":"10.1016/j.lrp.2025.102526","url":null,"abstract":"<div><div>In this perspective piece, we stress the importance of intra-country institutional variance. Building on recent advances on sub-national political institutions and our own ongoing work, we focus on federal political systems and how they exert influence on the strategic decisions of MNEs – particularly in foreign location strategy.</div></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"58 3","pages":"Article 102526"},"PeriodicalIF":7.4,"publicationDate":"2025-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143697629","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Enhancing digital transformation in SMEs: The dynamic capabilities of innovation intermediaries within ecosystems","authors":"Shahid Hafeez ,&nbsp;Khuram Shahzad ,&nbsp;Muthu De Silva","doi":"10.1016/j.lrp.2025.102525","DOIUrl":"10.1016/j.lrp.2025.102525","url":null,"abstract":"<div><div>While the dynamic capabilities framework discusses the sensing, seizing, and transformation capabilities of organisations, we lack knowledge of the specific dynamic capabilities of intermediaries that support collaborations leading to the digital transformation of small and medium enterprises (SMEs). The specific role of intermediaries supporting collaboration between SMEs and the ecosystem, the unique barriers confronted by SMEs, and the long-term focus required for digital transformation suggest that intermediaries should deploy specific dynamic capabilities. By conducting in-depth interviews with innovation intermediaries, SMEs, and other ecosystem actors in the Ostrobothnia region of Finland, we make three original contributions to the dynamic capability framework. First, while the literature has discussed spotting opportunities and bringing partners together as <em>sensing</em> dynamic capability, we make an original contribution by demonstrating the ‘<em>ancillary opportunity spotting capability</em>’ of intermediaries. This includes intermediaries spotting opportunities to develop digital technologies to address business, environmental, or social challenges of ecosystem actors (e.g. developing carbon-neutral solutions) where SME digital transformation is only indirectly achieved: hence, this is described as an ancillary opportunity. Second, while the literature has discussed that the <em>seizing</em> capability involves exploiting opportunities by using resources, we identified that intermediaries leverage ‘<em>business model co-creation capability</em>’ for seizing. This predominantly consists of them co-creating – with the stakeholders of SMEs (i.e. customers, suppliers, and competitors) – the business models of SMEs for digital transformation. Third, as a <em>transformation</em> capability, intermediaries leverage ‘<em>ecosystem revamping capability</em>’ for continued and scaled-up SME digital transformation, the capabilities associated with which include altering opportunity and ecosystem structures, bridging inter-ecosystem collaborations, and deploying international best practices. Our finding has implications for intermediaries, SMEs, and policymakers keen to enhance SME digital transformation by enabling intermediaries to develop required dynamic capabilities.</div></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"58 3","pages":"Article 102525"},"PeriodicalIF":7.4,"publicationDate":"2025-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143629054","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Top management teams hierarchical structures: An exploration of multi-level determinants","authors":"Aras Can Aktan ,&nbsp;Fabrizio Castellucci","doi":"10.1016/j.lrp.2025.102515","DOIUrl":"10.1016/j.lrp.2025.102515","url":null,"abstract":"<div><div>Although the role structure of top management teams (TMT) is a relevant topic in strategic leadership research, the hierarchical structure of TMTs still needs to be explored. In this study, we conduct an exploratory analysis to understand better how TMTs are hierarchically structured and what drives different hierarchical configurations across TMTs. Our empirical analysis of 260 Standard &amp; Poor firms between 2007 and 2018 offers unique insights. Primarily, we discover that even though TMT sizes remained constant between the years of observation, they became less hierarchical in structure, meaning that TMTs became relatively flatter. Moreover, we find that several factors related to CEO characteristics, strategic leadership, corporate governance, and firm and environmental conditions drove the changes in the hierarchical structure of TMTs. These combined empirical insights call for nuanced theoretical explanations of TMT hierarchical structures. We contribute to the TMT literature mainly by highlighting the development of different TMT hierarchical structures and providing new insights into their determinants.</div></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"58 3","pages":"Article 102515"},"PeriodicalIF":7.4,"publicationDate":"2025-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143479172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}