Agency costs of free cash flow, corporate finance, and takeovers
Corporate managers are the agents of shareholders; a relationship fraught with conflicting interests. Agency theory, the analysis of such conflicts, is now a major part of the e...
Publications
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4,196 publications
The Benefits of Facebook “Friends:” Social Capital and College Students’ Use of Online Social Network Sites
This study examines the relationship between use of Facebook, a popular online social network site, and the formation and maintenance of social capital. In addition to assessing...
Business Dynamics: Systems Thinking and Modeling for a Complex World
Introduction Part I. Perspective and Process 1. Learning In and About Complex Systems 2. System Dynamics In Action 3. The Modeling Process 4. Structure and Behavior of Dynamic S...
The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation
Recent contributions to strategic management and the theory of the collectively known as the view of the firm provide illuminating insights into the sources of profitability a...
Open Innovation: The New Imperative for Creating and Profiting from Technology
The article reviews the book “Open Innovation: The New Imperative for Creating and Profiting From Technology,” by Henry Chesbrough.
Social Structure and Competition in Interfirm Networks: The Paradox of Embeddedness
This chapter aims to develop one of perhaps multiple specifications of embeddedness, a concept that has been used to refer broadly to the contingent nature of economic action wi...
Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of who and What Really Counts
Stakeholder theory has been a popular heuristic for describing the management environment for years, but it has not attained full theoretical status. Our aim in this article is ...
The External Control of Organizations: A Resource Dependence Perspective
Examines how external constraints affect organizations and how to design and manage organizations under such constraints. Taking a resource dependence perspective on organizatio...
A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle
This paper proposes a very tractable approach to modeling changes in regime. The parameters of an autoregression are viewed as the outcome of a discrete-state Markov process. Fo...