Strategic Management Journal最新文献

{"title":"Lovely and likely: Using historical methods to improve inference to the best explanation in strategy","authors":"Sandeep Devanatha Pillai, Brent Goldfarb, David Kirsch","doi":"10.1002/smj.3593","DOIUrl":"https://doi.org/10.1002/smj.3593","url":null,"abstract":"Research SummaryMany strategy studies implicitly rely upon inference to the best explanation (IBE) or modern abduction. We leverage recent work in the philosophy of science to consider how we arrive at “best” explanations, explanations that are lovely, in the sense that they are useful, general, and provide meaning, and likely, in the sense that they are close to the truth. Interpretation of observational results requires an understanding of context that statistical analysis alone cannot provide. At that point of encounter, historical methods—hermeneutics, contextualization and source criticism—can improve IBE by helping scholars (1) generate new candidate explanations and (2) systematically judge, privilege, and balance the explanatory virtues that constitute the loveliness and likeliness of explanations.Managerial SummaryMany strategy studies iteratively use data and theory to inference to the best explanation of observed phenomena. We leverage recent work in the philosophy of science to consider how we arrive at best explanations that are useful, general, provide meaning, and, at the same time, are close to the truth. Interpreting observational results requires an understanding of the context that statistical analysis alone cannot provide. At that point of encounter, methodological tools from the field of history can improve the process of determining the best explanation by helping scholars (1) generate new candidate explanations and (2) systematically judge and privilege explanations.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140045868","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Gender gap in STEM entrepreneurship: Effects of the Affordable Care Act reform","authors":"Jiayi Bao","doi":"10.1002/smj.3594","DOIUrl":"https://doi.org/10.1002/smj.3594","url":null,"abstract":"Research SummaryThis article examines whether the Affordable Care Act (ACA) health insurance reform reduced the gender gap in science, technology, engineering, and mathematics (STEM) entrepreneurship. I argue that the ACA mitigated mobility constraints imposed by employer‐provided health insurance and encouraged entrepreneurship with important contingencies: effects were limited to women because of gender differences in supply‐side cost reduction and demand‐side health insurance needs and were specific to women in STEM (vs. non‐STEM) entrepreneurship because of the human and financial capital needed to navigate insurance markets. Leveraging the ACA quasi‐experiment, I find consistent evidence of a reduced gender gap in STEM entrepreneurship. Surprisingly, the effects were driven by increased STEM entrepreneurship for married women founding unincorporated businesses. Qualitative interview insights and empirical findings provide explanations for these patterns.Managerial SummaryThis study examines whether the science, technology, engineering, and mathematics (STEM) entrepreneurial gender gap can be reduced by institutional factors mitigating labor market mobility constraints imposed by employer‐provided work benefits. Through the lens of the US ACA reform, I find that broadened access to more affordable health insurance in the alternative individual insurance markets disproportionately encouraged female (vs. male) STEM (vs. non‐STEM) entrepreneurship, thus reducing the STEM entrepreneurial gender gap. Contrary to common assumptions, this effect is driven by married (vs. unmarried) women and is in unincorporated (vs. incorporated) self‐employment. The findings help discern which groups benefit from policy efforts to promote diversity in STEM entrepreneurship and imply that the effectiveness of employer‐provided work benefits as retention tools is dependent on various worker characteristics.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140047774","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Erratum ","authors":"","doi":"10.1002/smj.3592","DOIUrl":"https://doi.org/10.1002/smj.3592","url":null,"abstract":"<p>The original article to which this Erratum refers was published in <i>Strategic Management Journal</i>. Vol. 44, Issue 3, pp. 737–777, 2023. DOI: 10.1002/smj.3460</p>\u0000<p> </p>\u0000<div>The formula for “heterogeneity in the evaluative schemas of the audiences a firm engages with,” as it appears on pages 759 and 762 of our paper, omits the square root. This omission was an inadvertent typo error. The correct formula, which was used in our calculations, is as below: <div><span><!--FIGURE-->\u0000<mjx-container aria-label=\"sigma summation Underscript upper T equals 1 Overscript 30 Endscripts StartRoot StartFraction 1 Over upper N minus 1 EndFraction sigma summation Underscript i equals 1 Overscript upper N Endscripts left parenthesis theta Subscript upper T comma i Baseline minus theta overbar Subscript upper T comma upper I Baseline right parenthesis squared EndRoot period\" ctxtmenu_counter=\"0\" ctxtmenu_oldtabindex=\"1\" jax=\"CHTML\" role=\"application\" sre-explorer- style=\"font-size: 102.9%; position: relative;\" tabindex=\"0\"><mjx-math aria-hidden=\"true\"><mjx-semantics><mjx-mrow data-semantic-children=\"46,45\" data-semantic-content=\"45\" data-semantic- data-semantic-role=\"endpunct\" data-semantic-speech=\"sigma summation Underscript upper T equals 1 Overscript 30 Endscripts StartRoot StartFraction 1 Over upper N minus 1 EndFraction sigma summation Underscript i equals 1 Overscript upper N Endscripts left parenthesis theta Subscript upper T comma i Baseline minus theta overbar Subscript upper T comma upper I Baseline right parenthesis squared EndRoot period\" data-semantic-type=\"punctuated\"><mjx-mrow data-semantic-children=\"6,44\" data-semantic-content=\"0\" data-semantic- data-semantic-parent=\"47\" data-semantic-role=\"sum\" data-semantic-type=\"bigop\"><mjx-munderover data-semantic-children=\"0,4,5\" data-semantic- data-semantic-parent=\"46\" data-semantic-role=\"sum\" data-semantic-type=\"limboth\" limits=\"false\" rspace=\"2\" space=\"1\"><mjx-mo data-semantic- data-semantic-operator=\"bigop\" data-semantic-parent=\"6\" data-semantic-role=\"sum\" data-semantic-type=\"largeop\"><mjx-c></mjx-c></mjx-mo><mjx-script style=\"vertical-align: -0.285em; margin-left: 0px;\"><mjx-mn data-semantic-annotation=\"clearspeak:simple\" data-semantic-font=\"normal\" data-semantic- data-semantic-parent=\"6\" data-semantic-role=\"integer\" data-semantic-type=\"number\" size=\"s\"><mjx-c></mjx-c><mjx-c></mjx-c></mjx-mn><mjx-spacer style=\"margin-top: 0.268em;\"></mjx-spacer><mjx-mrow data-semantic-children=\"1,3\" data-semantic-content=\"2\" data-semantic- data-semantic-parent=\"6\" data-semantic-role=\"equality\" data-semantic-type=\"relseq\" size=\"s\"><mjx-mi data-semantic-annotation=\"clearspeak:simple\" data-semantic-font=\"italic\" data-semantic- data-semantic-parent=\"4\" data-semantic-role=\"latinletter\" data-semantic-type=\"identifier\"><mjx-c></mjx-c></mjx-mi><mjx-mo data-semantic- data-semantic-operator=\"relseq,=\" data-semantic-parent=\"4\" data-semantic-role=\"equality\" data-semantic-type=\"relation\" rspace=\"1\" space=\"1\"><mjx-c></mjx-c></m","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139968524","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The new argonauts: The international migration of venture‐backed companies","authors":"Yuan Shi, Olav Sorenson, David M. Waguespack","doi":"10.1002/smj.3591","DOIUrl":"https://doi.org/10.1002/smj.3591","url":null,"abstract":"Research SummaryWe use a novel longitudinal dataset, constructed from 16 downloads of VentureXpert records collected over 20 years, to characterize the international migration of venture‐capital‐backed startups. We find that: (i) 1078 firms in our sample (1.4%) migrate; (ii) countries with high levels of in‐migration also have high levels of out‐migration; (iii) migrating firms move to places with more investors; (iv) pre‐move investors and their connections most strongly predict migration patterns; and (v) movers raise more money than non‐movers, primarily from investors at their destinations. Overall, these patterns appear inconsistent with those expected if startups move primarily in search of talent or customers. Instead, the flows across countries look more like international trade, with startups seeking capital, and social connections between investors defining the shipping lanes.Managerial SummaryAlthough many high‐profile startups have relocated their headquarters from one country to another, systematic information on this phenomenon has been scarce. How frequently do these moves happen? Why do startups move? Over 20 years, we have built a database that can begin to answer these questions. International moves appear rare. When startups do move, they tend to move to places with more venture capital, particularly when their existing investors have connections in those places. Movers, moreover, raise more money than non‐movers, mostly from investors in their destination countries. Capital availability, rather than access to talent or proximity to customers, appears to be the strongest predictor of startup migration.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139951209","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The effect of flatter hierarchy on applicant pool gender diversity: Evidence from experiments","authors":"Reuben Hurst, Saerom (Ronnie) Lee, Justin Frake","doi":"10.1002/smj.3590","DOIUrl":"https://doi.org/10.1002/smj.3590","url":null,"abstract":"This article investigates how job seekers' perceptions of an employer's formal hierarchy affect the size and gender composition of its applicant pool. Building on the literature on gendered organizations and organizational design, we develop opposing perspectives on these relationships. To arbitrate between these perspectives, we first conduct a field experiment in partnership with a hiring firm. We find that featuring a flatter hierarchy in recruiting materials does not significantly affect the size of the applicant pool, but significantly decreases women's representation within it. Our follow-up survey experiment identifies several potential mechanisms (e.g., perceptions of career progression, informality, workload, and fit). Our findings imply that firms' growing tendency to adopt flatter hierarchies could inadvertently undermine efforts to attract a greater proportion of women applicants.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139925350","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The cue-ball effect: How an advantaged firm's closer competitors can propagate the impact of its advantage to more distant competitors","authors":"Natarajan Balasubramanian, Richard Makadok, Wan-Ting Chiu","doi":"10.1002/smj.3579","DOIUrl":"https://doi.org/10.1002/smj.3579","url":null,"abstract":"Cost advantage helps a firm at the expense of its rivals, but may hurt some rivals worse than others. Conventional wisdom suggests that an advantaged firm will do more harm to closer competitors, but the opposite may occur if competitors can reposition themselves. Closer competitors have stronger incentives to reposition away from the advantaged firm, thereby potentially encroaching on rivals more distant from the advantaged firm and propagating the harm to them like the cue ball in billiards transfers energy from cue stick to target ball. Our formal model compares an advantaged firm's closer and farther competitors, when repositioning is allowed or prohibited, and demonstrates when its advantage hurts farther competitors worse than closer ones. We provide an illustrative case study from grocery retailing.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139925342","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Sweeping it under the rug: Positioning and managing pollution-intensive activities in organizational hierarchies","authors":"Juyoung Lee, Pratima Bansal","doi":"10.1002/smj.3582","DOIUrl":"https://doi.org/10.1002/smj.3582","url":null,"abstract":"Many corporate groups have multiple layers with parent companies owning subsidiaries, which own other subsidiaries, and so forth, in a pyramid-like ownership structure. We argue that corporate groups perform their pollution-intensive activities at the lower levels of the corporate hierarchy to buffer the parent from pollution-related regulatory risks. Our analysis of 7400 US-based business establishments owned by the 67 largest US-headquartered chemical manufacturing corporate groups supported this argument. We also found that they were even more likely to do so in states with greater environmental stringency, whether it be in the home state of the parent or the host state of the subsidiary. Our research calls into question the effectiveness of environmental regulations if companies have the opportunity to shift polluting activities lower in their corporate hierarchy.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139925377","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Product digitization and differentiation strategy change: Evidence from the book publishing industry","authors":"Cameron D. Miller, Richard D. Wang","doi":"10.1002/smj.3586","DOIUrl":"https://doi.org/10.1002/smj.3586","url":null,"abstract":"We study product digitization as an impetus for firm strategy change. Product digitization can erode a firm's ability to differentiate through physical product attributes and prompts them to increase emphasis on nonphysical product attributes to sustain their competitive advantage. We expect this effect is pronounced among firms that have pursued a physical differentiation strategy prior to the digital age. However, we expect that countervailing forces exist such that the internal supply cost of and the external market demand for the nonphysical differentiator mitigate this effect. Evidence from publishers in the Amazon Kindle e-book ecosystem supports our hypotheses. This study bridges the growing digital strategy literature and the classical competitive strategy literature. We discuss how our findings are relevant to a range of industries.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139925338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Hedge fund activism in family firms","authors":"Emilie R. Feldman, Raphael (Raffi) Amit, Siwen Chen","doi":"10.1002/smj.3583","DOIUrl":"https://doi.org/10.1002/smj.3583","url":null,"abstract":"This article examines the antecedents and outcomes of hedge fund activism in family versus nonfamily firms. We find that activist hedge funds are less likely to initiate campaigns against family firms than nonfamily firms, but the cumulative abnormal returns to announcements of campaigns against family firms exceed those of nonfamily firms. The presence of one or more family members on a firm's board of directors appears to be a key impediment to hedge fund activism in family firms. Additionally, activist hedge funds are more likely to use hostile tactics and demand more substantive changes in their campaigns against family firms than nonfamily firms. Together, these findings contribute to the agency theory-based literatures on hedge fund activism, family firms, boards of directors, and corporate governance.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139770281","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Overcoming strategic persistence: Effects of multiple scenario analysis on strategic reorientation","authors":"Mark P. Healey, Gerard P. Hodgkinson","doi":"10.1002/smj.3589","DOIUrl":"https://doi.org/10.1002/smj.3589","url":null,"abstract":"To thrive in an unpredictable world, managers must adapt their decision-making to changing events. However, a major impediment to adaptation is strategic persistence, that is, the tendency to stick with previously successful strategies. We examined whether multiple scenario analysis can help to overcome the dysfunctional effects of strategic persistence. In a laboratory study using a multi-round strategy simulation that required players to change strategies to succeed, we found that multiple scenario analysis alleviated the effects of strategic persistence by stimulating strategic reorientation, that is, adaptive shifts in patterns of strategic choice. Multiple scenario analysis influenced strategic reorientation indirectly, by fostering belief in a new strategy, and its effectiveness depended on prior performance. We discuss implications for research on the cognitive microfoundations of strategic adaptation.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139770284","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}