ORCID Profile
0000-0003-0054-3606
Current Organisation
University of Queensland
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Publisher: Elsevier BV
Date: 03-2004
Publisher: Elsevier BV
Date: 03-2004
Publisher: Wiley
Date: 26-07-2020
DOI: 10.1002/SMJ.3194
Publisher: Cambridge University Press
Date: 05-02-2009
Abstract: Strategic decisions deal with the long-term direction of the firm and its main activities, usually the responsibility of the top managers in an organization. Because the firm is the critical unit of analysis in strategy, we need to define what firms are, how they create value, and what their organizational boundaries are in order to understand their overall performance. However, this must be done in a manner that is most useful for strategic analysis and decision making. In other words, we need a theory of the firm for business strategy. Theory of the Firm for Strategic Management integrates and expands key existing theories, like transaction costs economics and the resource-based view, to develop a value-based theory of the firm. This provides a framework to show how firms can create value for customers and, at the same time, capture economic profits for their owners through business, corporate, international, and social strategies.
Publisher: Elsevier BV
Date: 03-2006
Publisher: Routledge
Date: 24-04-2003
Publisher: Wiley
Date: 04-2008
Publisher: Institute for Operations Research and the Management Sciences (INFORMS)
Date: 09-2021
Abstract: This study investigates the negative relationship between firm risk and accounting performance known in the strategy field as the Bowman paradox, which has been generally attributed to differences across firms in their willingness to take risk. Most research to date relies on the behavioral theory of the firm to suggest that underperformers take greater risks to increase their performance to their reference point. As an alternative explanation, we suggest that the Bowman paradox may result from the inherent vulnerability of low performers to negative external shocks. Our panel analysis of 2,681 U.S. firms from 1980 to 2010 confirms that firms with lower performance within their industry are more affected by negative shocks to the economy. The asymmetric vulnerability of low performers to external events makes their overall accounting performance more volatile and difficult to predict by market analysts, even if all firms have a similar attitude toward risk taking and capabilities to manage change. Our vulnerability explanation is also supported by our empirical analysis of the 2008 global financial crisis as a natural experiment. Furthermore, we find strong evidence of a negative risk–return relationship using different methods to control for their endogeneity.
Publisher: SAGE Publications
Date: 12-2008
Abstract: The resource-based view (RBV) has been successful in explaining the sustainability of competitive advantages based on the characteristics of in idual resources but less so for understanding firm profitability and the reasons why profits may emerge. This article investigates the three conditions for a set of resources to create collectively greater returns that they demand from the firm, thus resulting in above-normal profits for its shareholders. These conditions for profitability are (a) value uncertainty, (b) resources specificity, and (c) firm-level innovation. Rather than owners of inherently superior knowledge or resources with limited bargaining power as usually portrayed in the RBV, profitable firms are fundamentally better combiners and developers of resources in the face of uncertainty.
Publisher: Elsevier BV
Date: 02-2015
Publisher: Elsevier BV
Date: 02-2013
Publisher: Wiley
Date: 02-05-2008
Publisher: SAGE Publications
Date: 10-12-2018
Abstract: The benefits and drawbacks of ersity inside organizations have been the focus of attention for researchers and practitioners for several decades. In our article, we investigate the business case for racial ersity across different hierarchical levels. More precisely, we ask: How does racial ersity within organizations and its asymmetry across hierarchical levels affect their financial performance? From a s le of 143 US law firms from 2008 to 2012, we provide strong support for the business case and show that greater racial ersity for the entire organization is positively associated with firm financial performance. However, contrary to our initial expectations, the benefits of ersity are not more pronounced at the top of the organization, where its effects should arguably be more clearly observable. Diversity seems to have a similar effect across the three levels in law firms: associates, mid-level and partners. Furthermore, we find that the most profitable firms actually have their racial ersity heavily concentrated at the associate level. We discuss alternative explanations for this surprising finding and why the top-performing law firms have both overall higher degree of racial ersity and more concentration of its ersity at the lower level.
Publisher: Wiley
Date: 27-12-2013
DOI: 10.1002/SMJ.2216
No related grants have been discovered for Manuel Becerra.