Much is known about the importance of dynamic capabilities. Yet, surprisingly little is known about how multiple dynamic capabilities might be developed in parallel, since most existing work explores a particular dynamic capability in isolation. Using rich quantitative and qualitative data on Dow Chemical's acquisitions, joint ventures, and divestitures over the past 20 years, we seek to address this gap. Besides contributing by adding fresh insights about managing growth and the utility of distributed practice, and by shedding light on positive and negative experience transfer, our core contribution is an emergent theoretical framework that develops the concept of “concurrent learning.
Fifteen North Carolina city, county, and state entities are vying with more than 230 communities in the U.S. and Canada to be the home of Amazon’s second headquarters. But bidders in the state are keeping mum about the details of their bids, saying that releasing data could jeopardize their competitiveness. One person who is talking is Brent Lane, economic strategist for the Center for Competitive Economies.
This paper presents an analysis of data from a company that offers forwards in a sports ticket market. Multiple models that account for fan heterogeneity are presented to capture forward purchase and resale behaviors.
The Kenan Institute is proud to launch the American Growth Project, a new initiative providing up-to-the-minute economic data, analysis and forecasting for towns, cities and counties across the country.
We study a longitudinal fit model of adaptation and its association with the longitudinal risk-return relationship. The model allows the firm to adjust its position in response to partial learning about a changing environment characterized by two path-dependent processes—a random walk and a stochastic trend.
We demonstrate the need to view in a dynamic context any decision based on limited information. We focus on the use of product costs in selecting the product portfolio. We show how ex post data regarding the actual costs from implementing the decision leads to updating of product cost estimates and potentially trigger a revision of the initial decision. We model this updating process as a discrete dynamical system (DDS). We define a decision as informationally consistent if it is a fixed-point solution to the DDS.
Based on earlier taxonomies of group composition models, aggregating data from individual-level responses to operationalize group-level constructs is a common aspect of management research.
We take up Cochrane’s (2011) challenge to identify the firm characteristics that provide independent information about average U.S. monthly stock returns by simultaneously including 94 characteristics in Fama-MacBeth regressions that avoid overweighting microcaps and adjust for data snooping bias.
Current innovation literature provides a very limited understanding of the potential impacts of innovative culture on employees. Building on resource-based view theory, the authors investigate theoretically and empirically how a perceived innovative culture can be a building block for a firm's competitive resource and advantage by creating superior employee-level outcomes and how a market information-sharing process may moderate these effects.
...estimate and graph the three effects over time for each product and country using a comprehensive data set that covers the diffusion of PCs and the Internet over two decades—from...
Focusing on U.S. data, we show the existence of a significant positive link between uncertainty and reallocation of resources from private R&D-intensive firms to both tangible private capital and government capital.
We investigate whether business ties with portfolio firms influence mutual funds' proxy voting using a comprehensive data set spanning 2003 to 2011. In contrast to prior literature, we find that business ties significantly influence pro-management voting at the level of individual pairs of fund families and firms after controlling for Institutional Shareholder Services (ISS) recommendations and holdings.
This event, sponsored by the Commercial Real Estate Data Alliance (CREDA) and the Institute for Private Capital (IPC), brings together leading academics and practitioners to discuss current issues related to commercial real estate, infrastructure, inflation and policy issues such as the effects of possible rent control proposals on investment returns.
Join Kenan Institute Research Director Camelia Kuhnen for the institute’s monthly virtual briefing at 9 a.m. EDT this Friday, June 7, as she dives into new data that shows a softening economy, raising questions about the Fed's response and labor market impact.
In this paper, we study within firm heterogeneity in the discounts offered to consumers. Utilizing transaction level data from a large home appliance retailer, we quantify the extent of both across and within-salesperson heterogeneity in the discounts they negotiate with consumers.
In this article, we analyze how retailers change their inventory investment behavior in response to macroeconomic shocks. We examine if service level, as measured by the ratio of stockout to inventory holding costs, can explain the differences in observed behavior across retailers. We use data on macroeconomic indicators and quarterly filings of US public retailers from 1985 to 2009 to estimate a dynamic model of short- and long-term impact of macroeconomic shocks on inventory investment.
In this study, we use hourly data on store traffic, sales, and labor from 41 stores of a large retail chain to identify the extent of understaffing in retail stores and quantify its impact on sales and profitability. Using an empirical model motivated from queueing theory, we calculate the benchmark staffing level for each store, and establish the presence of systematic understaffing during peak hours.
In this paper, we examine the relationship between inventory levels and one-year-ahead earnings of retailers using publicly available financial data. We use benchmarking metrics obtained from operations management literature to demonstrate an inverted-U relationship between abnormal inventory growth and one-year-ahead earnings per share for retailers.
In this paper, we examine how connecting to beneficiaries of one’s work increases performance, and argue that beneficiaries internal to an organization (i.e., one’s own colleague) can serve as an important source of motivation, even in jobs that — on the surface — may seem routine and low on potential impact. We suggest that this occurs because words of beneficiaries strengthen one’s sense of belongingness, a key driver of human behavior.
How best to structure the work day is an important operational question for organizations. A key structural consideration is the effective use of breaks from work. Breaks serve the critical purpose of allowing employees to recharge, but in the short term, translate to a loss of time that usually leads to reduced productivity. We evaluate the effects of two types of breaks (expected versus unexpected), and two distinct forms of unexpected breaks, and find that unexpected breaks can, under certain conditions, yield immediate post-break performance increases.