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Corporate Strategy
This authoritative volume, co-edited by an internationally recognised expert on corporate strategy, includes seminal articles on the theory underlying corporate strategy, the empirical evidence linking corporate strategy to firm performance and the influence of the firm’s upper echelon on corporate strategy. In addition, the collection includes key articles addressing methodological issues of concern to strategy researchers.
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Critical Acclaim
Contributors
Contents
More Information
This authoritative volume, co-edited by an internationally recognised expert on corporate strategy, includes seminal articles on the theory underlying corporate strategy, the empirical evidence linking corporate strategy to firm performance and the influence of the firm’s upper echelon on corporate strategy. In addition, the collection includes key articles addressing methodological issues of concern to strategy researchers. This indispensable volume, with an original introduction by the editors, will be of immense value to academicians doing research in the field of corporate strategy.
Critical Acclaim
‘An impressive collection of 39 classical articles on strategy. . . An invaluable reference volume.’
– Long Range Planning
‘The book comes full circle in establishing a solid introduction to the field of corporate strategy, its array of intracacies and its extant research. The fine selection of articles compiled in this collection help senior executives not only address their firms’ most complex and challenging business issues, but also achieve and sustain superior corporate performance and returns. It is an authoritative, indispensable volume, a must have for all researchers in this field.’
– Constantin Oprean, Management of Sustainable Development
– Long Range Planning
‘The book comes full circle in establishing a solid introduction to the field of corporate strategy, its array of intracacies and its extant research. The fine selection of articles compiled in this collection help senior executives not only address their firms’ most complex and challenging business issues, but also achieve and sustain superior corporate performance and returns. It is an authoritative, indispensable volume, a must have for all researchers in this field.’
– Constantin Oprean, Management of Sustainable Development
Contributors
39 articles, dating from 1937 to 2005
Contributors include: D. Bergh, H. Bowen, R. Coase, K. Eisenhardt, D. Hambrick, M. Jensen, M. Porter, J. Robins, B. Silverman, D. Teece
Contributors include: D. Bergh, H. Bowen, R. Coase, K. Eisenhardt, D. Hambrick, M. Jensen, M. Porter, J. Robins, B. Silverman, D. Teece
Contents
Contents:
Acknowledgements
Introduction Margarethe Wiersema and Joseph Beck
PART I CONCEPT OF STRATEGY
1. Michael E. Porter (1996), ‘What is Strategy?’
PART II THEORY OF CORPORATE STRATEGY
2. R.H. Coase (1937), ‘The Nature of the Firm’
3. Edith Penrose (1955), ‘Limits to the Growth and Size of Firms’
4. Oliver E. Williamson (1967), ‘Hierarchical Control and Optimum Firm Size’
5. David J. Teece (1982), ‘Towards an Economic Theory of the Multiproduct Firm’
6. Gareth R. Jones and Charles W.L. Hill (1988), ‘Transaction Cost Analysis of Strategy-Structure Choice’
PART III RESOURCE-BASED AND KNOWLEDGE-BASED VIEWS OF THE FIRM
7. Robert M. Grant (1996), ‘Toward a Knowledge-based Theory of the Firm’
8. Julia Porter Liebeskind (1996), ‘Knowledge, Strategy, and the Theory of the Firm’
9. Kathleen R. Conner and C.K. Prahalad (1996), ‘A Resource-based Theory of the Firm: Knowledge Versus Opportunism’
PART IV INDUSTRY VERSUS BUSINESS PERFORMANCE EFFECTS
10. Gary S. Hansen and Birger Wernerfelt (1989), ‘Determinants of Firm Performance: The Relative Importance of Economic and Organizational Factors’
11. Richard P. Rumelt (1991), ‘How Much Does Industry Matter?’
12. Thomas H. Brush and Philip Bromiley (1997), ‘What Does A Small Corporate Effect Mean? A Variance Components Simulation of Corporate and Business Effects’
13. Edward H. Bowman and Constance E. Helfat (2001), ‘Does Corporate Strategy Matter?’
PART V CORPORATE DIVERSIFICATION
14. Michael C. Jensen (1986), ‘Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers’
15. Birger Wernerfelt and Cynthia A. Montgomery (1988), ‘Tobin’s q and the Importance of Focus in Firm Performance’
16. Larry H.P. Lang and René M. Stulz (1994), ‘Tobin’s q, Corporate Diversification, and Firm Performance’
17. Philip G. Berger and Eli Ofek (1995), ‘Diversification’s Effect on Firm Value’
18. Robert Comment and Gregg A. Jarrell (1995), ‘Corporate Focus and Stock Returns’
19. C.K. Prahalad and Richard A. Bettis (1986), ‘The Dominant Logic: A New Linkage Between Diversity and Performance’
20. David J. Collins and Cynthia A. Montgomery (1998), ‘Creating Corporate Advantage’
21. Brian S. Silverman (1999), ‘Technological Resources and the Direction of Corporate Diversification: Toward an Integration of the Resource-Based View and Transaction Cost Economics’
22. James Robins and Margarethe F. Wiersema (1995), ‘A Resource-Based Approach to the Multibusiness Firm: Empirical Analysis of Portfolio Interrelationships and Corporate Financial Performance’
23. Belén Villalonga (2004), ‘Diversification Discount or Premium? New Evidence from the Business Information Tracking Series’
24. Constantinos C. Markides and Peter J. Williamson (1994), ‘Related Diversification, Core Competencies and Corporate Performance’
25. Harry P. Bowen and Margarethe F. Wiersema (2005), ‘Foreign-Based Competition and Corporate Diversification Strategy’
26. Donald D. Bergh and Michael W. Lawless (1998), ‘Portfolio Restructuring and Limits to Hierarchical Governance: The Effects of Environmental Uncertainty and Diversification Strategy’
27. Leslie E. Palich, Laura B. Cardinal and C. Chet Miller (2000), ‘Curvilinearity in the Diversification-Performance Linkage: An Examination of Over Three Decades of Research’
PART VI MEASUREMENT AND METHODOLOGICAL ISSUES
28. Ernest H. Hall, Jr. and Caron H. St. John (1994), ‘A Methodological Note on Diversity Measurement’
29. Rachel Davis and Irene M. Duhaime (1992), ‘Diversification, Vertical Integration, and Industry Analysis: New Perspectives and Measurement’
30. James A. Robins and Margarethe F. Wiersema (2003), ‘The Measurement of Corporate Portfolio Strategy: Analysis of the Content Validity of Related Diversification Indexes’
31. Harry P. Bowen and Margarethe F. Wiersema (1999), ‘Matching Method to Paradigm in Strategy Research Limitations of Cross-Sectional Analysis and Some Methodological Alternatives’
32. Barton H. Hamilton and Jackson A. Nickerson (2003), ‘Correcting for Endogeniety in Strategic Management Research’
PART VII DYNAMIC CAPABILITIES
33. David J. Teece, Gary Pisano and Amy Shuen (1997), ‘Dynamic Capabilities and Strategic Management’
34. Kathleen M. Eisenhardt and Jeffrey A. Martin (2000), ‘Dynamic Capabilities: What Are They?’
PART VIII UPPER ECHELONS AND CORPORATE STRATEGY
35. Donald C. Hambrick and Phyllis A. Mason (1984), ‘Upper Echelons: The Organization as a Reflection of its Top Managers’
36. Donald C. Hambrick (1989), ‘Putting Top Managers Back in the Strategy Picture’
37. Marta A. Geletkanycz and Donald C. Hambrick (1997), ‘The External Ties of Top Executives: Implications for Strategic Choice and Performance’
38. Margarethe F. Wiersema and Karen A. Bantel (1992), ‘Top Management Team Demography and Corporate Strategic Change’
39. Ken G. Smith, Ken A. Smith, Judy D. Olian, Henry P. Sims, Jr., Douglas P. O’Bannon and Judith A. Scully (1994), ‘Top Management Team Demography and Process: The Role of Social Integration and Communication’
Acknowledgements
Introduction Margarethe Wiersema and Joseph Beck
PART I CONCEPT OF STRATEGY
1. Michael E. Porter (1996), ‘What is Strategy?’
PART II THEORY OF CORPORATE STRATEGY
2. R.H. Coase (1937), ‘The Nature of the Firm’
3. Edith Penrose (1955), ‘Limits to the Growth and Size of Firms’
4. Oliver E. Williamson (1967), ‘Hierarchical Control and Optimum Firm Size’
5. David J. Teece (1982), ‘Towards an Economic Theory of the Multiproduct Firm’
6. Gareth R. Jones and Charles W.L. Hill (1988), ‘Transaction Cost Analysis of Strategy-Structure Choice’
PART III RESOURCE-BASED AND KNOWLEDGE-BASED VIEWS OF THE FIRM
7. Robert M. Grant (1996), ‘Toward a Knowledge-based Theory of the Firm’
8. Julia Porter Liebeskind (1996), ‘Knowledge, Strategy, and the Theory of the Firm’
9. Kathleen R. Conner and C.K. Prahalad (1996), ‘A Resource-based Theory of the Firm: Knowledge Versus Opportunism’
PART IV INDUSTRY VERSUS BUSINESS PERFORMANCE EFFECTS
10. Gary S. Hansen and Birger Wernerfelt (1989), ‘Determinants of Firm Performance: The Relative Importance of Economic and Organizational Factors’
11. Richard P. Rumelt (1991), ‘How Much Does Industry Matter?’
12. Thomas H. Brush and Philip Bromiley (1997), ‘What Does A Small Corporate Effect Mean? A Variance Components Simulation of Corporate and Business Effects’
13. Edward H. Bowman and Constance E. Helfat (2001), ‘Does Corporate Strategy Matter?’
PART V CORPORATE DIVERSIFICATION
14. Michael C. Jensen (1986), ‘Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers’
15. Birger Wernerfelt and Cynthia A. Montgomery (1988), ‘Tobin’s q and the Importance of Focus in Firm Performance’
16. Larry H.P. Lang and René M. Stulz (1994), ‘Tobin’s q, Corporate Diversification, and Firm Performance’
17. Philip G. Berger and Eli Ofek (1995), ‘Diversification’s Effect on Firm Value’
18. Robert Comment and Gregg A. Jarrell (1995), ‘Corporate Focus and Stock Returns’
19. C.K. Prahalad and Richard A. Bettis (1986), ‘The Dominant Logic: A New Linkage Between Diversity and Performance’
20. David J. Collins and Cynthia A. Montgomery (1998), ‘Creating Corporate Advantage’
21. Brian S. Silverman (1999), ‘Technological Resources and the Direction of Corporate Diversification: Toward an Integration of the Resource-Based View and Transaction Cost Economics’
22. James Robins and Margarethe F. Wiersema (1995), ‘A Resource-Based Approach to the Multibusiness Firm: Empirical Analysis of Portfolio Interrelationships and Corporate Financial Performance’
23. Belén Villalonga (2004), ‘Diversification Discount or Premium? New Evidence from the Business Information Tracking Series’
24. Constantinos C. Markides and Peter J. Williamson (1994), ‘Related Diversification, Core Competencies and Corporate Performance’
25. Harry P. Bowen and Margarethe F. Wiersema (2005), ‘Foreign-Based Competition and Corporate Diversification Strategy’
26. Donald D. Bergh and Michael W. Lawless (1998), ‘Portfolio Restructuring and Limits to Hierarchical Governance: The Effects of Environmental Uncertainty and Diversification Strategy’
27. Leslie E. Palich, Laura B. Cardinal and C. Chet Miller (2000), ‘Curvilinearity in the Diversification-Performance Linkage: An Examination of Over Three Decades of Research’
PART VI MEASUREMENT AND METHODOLOGICAL ISSUES
28. Ernest H. Hall, Jr. and Caron H. St. John (1994), ‘A Methodological Note on Diversity Measurement’
29. Rachel Davis and Irene M. Duhaime (1992), ‘Diversification, Vertical Integration, and Industry Analysis: New Perspectives and Measurement’
30. James A. Robins and Margarethe F. Wiersema (2003), ‘The Measurement of Corporate Portfolio Strategy: Analysis of the Content Validity of Related Diversification Indexes’
31. Harry P. Bowen and Margarethe F. Wiersema (1999), ‘Matching Method to Paradigm in Strategy Research Limitations of Cross-Sectional Analysis and Some Methodological Alternatives’
32. Barton H. Hamilton and Jackson A. Nickerson (2003), ‘Correcting for Endogeniety in Strategic Management Research’
PART VII DYNAMIC CAPABILITIES
33. David J. Teece, Gary Pisano and Amy Shuen (1997), ‘Dynamic Capabilities and Strategic Management’
34. Kathleen M. Eisenhardt and Jeffrey A. Martin (2000), ‘Dynamic Capabilities: What Are They?’
PART VIII UPPER ECHELONS AND CORPORATE STRATEGY
35. Donald C. Hambrick and Phyllis A. Mason (1984), ‘Upper Echelons: The Organization as a Reflection of its Top Managers’
36. Donald C. Hambrick (1989), ‘Putting Top Managers Back in the Strategy Picture’
37. Marta A. Geletkanycz and Donald C. Hambrick (1997), ‘The External Ties of Top Executives: Implications for Strategic Choice and Performance’
38. Margarethe F. Wiersema and Karen A. Bantel (1992), ‘Top Management Team Demography and Corporate Strategic Change’
39. Ken G. Smith, Ken A. Smith, Judy D. Olian, Henry P. Sims, Jr., Douglas P. O’Bannon and Judith A. Scully (1994), ‘Top Management Team Demography and Process: The Role of Social Integration and Communication’
