Expand or Retrench? Alliance Portfolio Adaptation to Environmental Jolts
| Autor: | Qingjiu Tao, Ruihua Joy Jiang, Michael D. Santoro |
|---|---|
| Rok vydání: | 2014 |
| Předmět: |
Portfolio strategy
Actuarial science Environmental change Financial economics Strategy and Management Financial market Perspective (graphical) Crash General Medicine Management Science and Operations Research Alliance Management of Technology and Innovation Economics Portfolio Business and International Management Marketing Adaptation (computer science) Industrial organization Diversity (business) |
| Zdroj: | Academy of Management Proceedings. 2014:10795 |
| ISSN: | 2151-6561 0065-0668 |
| DOI: | 10.5465/ambpp.2014.10795abstract |
| Popis: | We assume the real options perspective and threat–rigidity model to explain firms' responses to different environmental changes. Treating firms' alliance portfolios as bundles of real options, we argue firms would expand both the size and diversity of their alliance portfolios when environmental change is perceived to be creating opportunities; but both the size and diversity of their alliance portfolios shrink when an environmental change is perceived as posing threats. We tested our hypotheses by tracing the evolution of telecom industry firms' alliance portfolio strategy during and after the 1996 Telecommunications Act and the year 2000 dot.com and financial markets crash. |
| Databáze: | OpenAIRE |
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