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I study whether the Dodd–Frank whistleblower program reduced informed trading by corporate insiders. To identify the effect, I partition firms based on the extent to which this program affected the likelihood of whistleblowing at each firm. I find a relative reduction in trading profits on purchases made by insiders at more affected firms after the program was initiated. I analyze insider sales in settings where they are more likely to be informed and find a reduction in the number of sales before negatively perceived events. The results suggest that whistleblower protections and rewards can effectively deter insider trading. [ABSTRACT FROM AUTHOR]

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The interview with Silicon Valley venture capitalist Mark Coopersmith explores the current landscape of privately funded fusion energy efforts. Coopersmith discusses the challenges and optimism surrounding the commercialization of fusion energy, highlighting the different perspectives of physicists, engineers, entrepreneurs, and investors. The interview delves into the role of venture capital in funding fusion startups, the need for government support in basic research, and the potential spin-off technologies that could emerge from advancements in fusion science. The discussion also touches on the intersection of Silicon Valley culture and the portrayal of tech startups in popular media. [Extracted from the article]

We investigate how men and women fare in the managerial labor market in the plausibly exogenous circumstance of their firms being acquired when most target-firm managers (about 90%) are displaced. These career disruptions result in a larger drop in rank and compensation for female managers, despite similar job search attributes. Gender differences are mitigated when hiring firms have more women in upper-echelon positions. Rich managerial experience and external board service also reduce gender-related differences. Overall, results point to a (implicit) "gender penalty" in terms of managerial job mobility, but also indicate contexts in which penalty is alleviated, and even reversed. [ABSTRACT FROM AUTHOR]

While ranked lists are ubiquitous, research on how consumers interpret changes in the rank of an entity is limited. Across seven studies (including a study with web data and a Google AdWords field experiment), this investigation shows that consumers reward a rise in rank and penalize a decline in rank, and that psychological momentum associated with the rank change information underlies these effects. Further, rewarding a rise and penalizing a fall are moderated by consumers' perception of the reason for the rank change, the nature of the entity, and the nature of the ranked list. The impact of changing rank is attenuated when the rank change is attributed to other entities on the list, when entities are considered nonmalleable, or when the list is updated more frequently. The investigation also identifies a specific case in which consumers do not extrapolate the direction of a change in rank into the future. In addition to contributing to theory, this research provides actionable insights and demonstrates practical ways in which managers can communicate dynamic ranks to enhance the benefit of an improvement in rank or attenuate the penalty from a decline. [ABSTRACT FROM AUTHOR]

Our research empirically examines the relationship between tax avoidance and the likelihood of incurring a tax-related restatement, as well as the effects tax restatements have on future tax avoidance behavior. We predict and find that the association between tax avoidance and the likelihood of a tax-related restatement is nonlinear. Specifically, both relatively high levels and relatively low levels of tax avoidance compared to peer firms increase the likelihood of incurring a tax-related restatement. We consider whether the increased likelihood for high avoiders is attributable to obfuscation necessary to escape detection of tax avoidance or weak corporate governance. For high avoiders, we find evidence that both obfuscation and weak corporate governance may contribute to the likelihood of a tax-related restatement. As low avoiders should not need to obfuscate, we focus on corporate governance and find an increased likelihood when governance is weak. In response to a tax-related restatement announcement, we document a decline in tax avoidance for firms that have relatively high tax avoidance prior to the restatement announcement. We attribute this to the increased level of Internal Revenue Service (IRS) monitoring and strengthening of corporate governance that we observe post-restatement announcement. In contrast, we do not find evidence that low avoidance firms alter their tax avoidance after a tax-related restatement announcement, consistent with our finding that corporate governance does not improve post-restatement for low avoiders. [ABSTRACT FROM AUTHOR]

Many firms engage in corporate social responsibility (CSR) initiatives, which aim to serve a broader set of stakeholders (e.g., workforce, communities, environment). These companies often encourage management to consider these stakeholders when making operational and financial decisions. One such decision that managers face involves managing earnings. We conduct an experiment in which experienced managers are placed in the role of a division manager facing an accrual decision. We find that a company's demonstrated commitment to CSR moderates both upward and downward earnings management attempts. We propose, and find support for, a moderated-mediation model in which the firm's commitment to CSR influences managers' consideration of constituents. Managers' consideration of these stakeholders differentially affects the level of accruals, depending on the direction of the earnings management incentive. Our results provide insight into how CSR may influence individuals' decisions within the organization, minimizing the impact that incentives have on maximizing one's self-interest. [ABSTRACT FROM AUTHOR]

Building on Schumpeter Mark I and Mark II, I propose an additional pattern of innovation and technological regime called the intellectual monopoly (IM) to explain the co-habitation of large incumbent firms with high entry and exit rates and provide evidence for pharmaceuticals and information technologies. I associate the IM pattern and technological regime with corporate innovation systems and illustrate that patterns not only evolve after changes in technological regimes but also due to economic, political, and institutional transformations. [ABSTRACT FROM AUTHOR]

We analyze the effect of subsidies on firm R&D, conditional on firms' access to external financing during the financial crisis when access to external financing was particularly difficult. Specifically, we determine whether subsidies can mitigate or completely offset the effect of external financing constraints of firms or banks. Financial constraints are considered through (i) firms' credit ratings, and (ii) the capital reserves of their banks. Subsidies were found to help maintain R&D investments during the crisis, especially when financial constraints were present. After the crisis, the subsidized firms reached the level of R&D spending they had prior to the crisis. [ABSTRACT FROM AUTHOR]

This research investigates the concept of resource enablement, defined as the degree to which a resource facilitates or reinforces the effectiveness of other resources through combination or integration. Resource enablement is characterised by two primary components: facilitation, making possible or easier, and reinforcement, strengthening or supporting. This study also introduces theconcept of resource miscibility and highlights its role, along with resource complementarity, as two primary dimensions of resource enablement. By examining the synergistic interactions among resources, this research advances the resource-based view and resource-advantage theory, providing new insights into how certain resources contribute to forming superior resource configurations that, in turn, drive competitive advantage. These findings provide actionable insights for firms to strategically deploy and align resources to form superior resource configurations. Future research should investigate the distinct roles of various resource types in resource enablement and extend the concept of miscibility to other marketing contexts. [ABSTRACT FROM AUTHOR]

We study how U.S. manufacturing firms' investment responds to tariff reductions in supplier industries. Our estimates, based on tariff reductions following multinational trade agreements, suggest that a hypothetical 10% reduction of all upstream tariffs would increase downstream investment by 4% to 6%. This estimate is not explained by decreasing uncertainty and stems from tariff reductions for homogeneous and low-R&D inputs, consistent with the investment response resulting from cost reductions rather than superior foreign technology embodied in imported inputs. Evidence from an instrumental variable estimation using the sudden increase in Chinese import penetration suggests that import competition also increases downstream investment. [ABSTRACT FROM AUTHOR]

Using a novel data set of over 3,500 public and private firms, we construct the network of executive and director connections prior to the 1929 financial market crash. We find that more connected firms have 17% higher 10-year survival rates. Consistent with a working capital channel, the results are strongest for small, private, cash-poor firms, and firms located in counties with high bank suspension rates. Moreover, connections to cash-rich firms that increase accounts receivable matter the most. Our results suggest that network connections can play a stabilizing role during a financial crisis by easing the flow of capital to constrained firms. [ABSTRACT FROM AUTHOR]

We use a random forest model to classify firms' financial constraints using only financial variables. Our methodology expands the range of classified firms compared to text-based measures while maintaining similar levels of informativeness. We construct two versions of our constraint measures, one using many firm characteristics and the other using a small set of more primitive characteristics. Using our measures, we find that institutional investors hold a lower percentage of shares in equity-focused constrained firms, while retail investors show a preference for them. Equity issuance and investment of constrained firms also increases during periods of high investor sentiment. [ABSTRACT FROM AUTHOR]

Information barriers exist between subsidiaries in a group enterprise, where each subsidiary acts independently, and hinder rational allocation and utilisation of resources. This study proposed a value co-creation model consisting of heterogeneous subsidiaries in a group enterprise and consumers. By constructing a three-party evolutionary game model, we discussed the impact of information leakage risk, punishment intensity, consumer experience, and reputation on the strategy evolution process, which means the proportion of strategy choices for the three entities over time. We analysed and verified the evolutionary process of the value co-creation system in different scenarios. This study revealed the 'butterfly effect' of value co-creation within the group enterprise, highlighting how different combinations of decision-making probabilities among the three entities in the initial stage can result in diverse outcomes, even when starting from identical conditions. The study also found that under certain conditions, group subsidiaries may sacrifice their own interests for the overall interests of cooperation. This study yielded the counterintuitive conclusion that in a stable state, the choice of cooperation strategies between subsidiaries is not directly related to their willingness to share knowledge. [ABSTRACT FROM AUTHOR]

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

When a firm collaborates with its suppliers, it expands its access to external know-how and thus can enhance its innovation performance. Such collaborations are common and argued to have significant impact on the firm's market outcomes. However, such collaborations also expose the firm to various transactional hazards, including knowledge spillovers and opportunism. This trade-off looms over the firm's commitment to a market positioning strategy and the functional capabilities it draws on to generate its strategy dividend. Recent accounts suggest that the verdict on supplier collaborations is noisy and that partner perceptions of these collaborations do not align on key issues of governance, strategy, and value generation. To investigate this, the authors study 202 formal codevelopment contracts of high-tech original equipment manufacturers that collaborated with suppliers from 1985 to 2016. Drawing on the governance value analysis framework, the authors show how misalignment between the firm's codevelopment contracts, capabilities, and market positioning strategy significantly erodes its innovation performance. Thus, blanket prescriptions for one type of contract or the other are misdirected, their effectiveness being a contingent outcome dependent on the firm's market positioning strategy and functional capabilities. This research presents one of the most complete tests of the governance value analysis framework to date. [ABSTRACT FROM AUTHOR]

Business-to-business suppliers invest in safety training programs believing that such programs mitigate safety hazards, prevent workplace injuries, and create value for their customers. However, causal evidence of these effects is sparse. Study 1 uses site-level monthly data from a global oil field services company. Exploiting sharp discontinuities in safety training hours due to catastrophic accidents, the authors find that a 10% increase in safety training hours per capita decreases safety hazards per capita by 6.45%–9.57%. Study 2 measures the causal impact of business establishments' safety training intensity on their workplace injuries: it leverages Local Law 196 requiring workers at construction establishments in New York City to complete at least ten hours of safety training. This legislation reduced injury rates at construction establishments in New York City by.54–.68 percentage points (a 15.56%–18.84% decrease) relative to their counterparts. Study 3, a stated-choice conjoint experiment of business-to-business procurement professionals, documents that the focal supplier's investment in safety training increases the probability of its proposal being selected by those professionals. Collectively, these findings validate the need for suppliers to invest in safety training as a risk-mitigation vehicle that has positive implications for business-to-business buying decisions. [ABSTRACT FROM AUTHOR]

Since their beginnings, virtual worlds have experienced two major media hypes in their short lifetime—the first in 2003 after the launch of Second Life and the second in 2021, with Mark Zuckerberg announcing his strategy for the Metaverse. Most academic research on virtual worlds emerged between these two peaks of interest. This article delves into the enduring relevance of such research, contrasting the two hype cycles. It analyzes the reasons behind current caution expressed by companies and offers insights into the future trajectory of the Metaverse and which crucial developments are needed for sustained traction in virtual worlds. [ABSTRACT FROM AUTHOR]

Legacy companies are firms that rely on stable business models, established internal processes, and familiar technologies. Existing research acknowledges that legacy companies need to explore new technologies, but scholars largely neglect to analyze how this process unfolds. This knowledge gap is particularly relevant when disruptive technological paradigms are about to modify the business arena, as in the case of the metaverse. This article presents an inductive qualitative approach to understanding why and how legacy companies explore the metaverse. The metaverse exploration process is purpose-driven and largely incremental. Capabilities co-specialization facilitates the use of complementary resources for new purposes, subsequently determining the path toward different strategic fit configurations. [ABSTRACT FROM AUTHOR]

Despite the growing evidence that many firms operate several multisided platforms (MSPs) simultaneously, we lack a comprehensive understanding of the managerial and public policy challenges involved. We examine the determinants and consequences of centralization decisions for firms managing MSP portfolios. A starting point is that on top of the indirect network effects and matching needs between user groups of the same MSP, in an MSP portfolio there are indirect network effects and matching needs across sides of the different MSPs managed by the firm. These additional interdependencies can amplify the effects of cross-selling and data-sharing in such portfolios. Our analysis suggests the higher relevance of a centralized design of an MSP portfolio due to the coordination benefits when indirect network effects and matching needs intensify the payoffs from cross-selling and data-sharing in MSP portfolios. We also explain how a more centralized design of such portfolios enables a broad set of pricing strategies, barriers to imitation, and acquisitions, and discuss managerial and public policy implications. [ABSTRACT FROM AUTHOR]

The negative relationship between corporate risk and corporate returns, also known as the "Bowman paradox," has been an important puzzle in strategy research that has motivated dozens of empirical studies. Theoretically, the paradox was explained with an appeal to contingent managerial preferences for risk or to heterogeneous managerial capabilities. A popular alternative view has been that the paradox is merely an empirical artifact and, thus, does not need to be explained with management theories. Furthermore, the view that the negative risk–return relationship does not need to be explained theoretically was reinforced to become a bottom line for nearly five decades of research on diversified firms—that the paradox cannot be explained theoretically based on the context of corporate diversification. This study counters that pessimistic view and develops a formal model to explain theoretically how the negative risk–return relationship exists in diversified firms due to the interplay of two types of economies of scope. Thus, the Bowman paradox is explained in this study parsimoniously, with the fundamental features of the context of corporate diversification that exist regardless of the variation in managerial preferences for risk or in managerial capabilities. [ABSTRACT FROM AUTHOR]

How can firms establish competitive advantages using artificial intelligence (AI)? Although AI is beginning to permeate business activities, our understanding of how AI can be used to create unique value is limited. To address this void, I introduce the concept of situated AI and illuminate its importance for establishing AI-driven competitive advantages. The paper highlights the organizational activities involved in situating AI—specifically, grounding, bounding, and recasting. It also explains the conditions in which these situating activities better enable firms to develop AI-driven capabilities that are firm-specific, cost-effective, and appropriate for opportunities in the strategic environment. Thus, this paper provides an integrative framework for connecting a firm's AI pursuits to competitive advantage. [ABSTRACT FROM AUTHOR]

Recent Delaware Chancery Court decisions that boards are self-interested in setting director compensation have focused scrutiny on the pay-setting process used by corporations. We examine the effect of peer benchmarking on director compensation decisions. Director pay relates positively to peer director pay, and firms paying their directors highly are selected as peers. Moreover, firm performance and board advising performance are positively related to the talent component and are generally unrelated to the self-serving component of the peer pay effect. The evidence indicates that firms use peer benchmarking to justify high compensation mainly to attract talented directors to enhance board quality. [ABSTRACT FROM AUTHOR]

Using three exogenous shocks to ex ante litigation risk, including federal judge ideology and two influential judicial precedents, we find that lower shareholder litigation risk reduces a firm's propensity to delist from the U.S. stock markets. The effect is at least partially driven by indirect costs of litigation and that being a private firm can significantly reduce the threat of litigation. Overall, the results suggest that mitigating excessive litigation costs for public firms is crucial to ensure the continued vibrancy of the U.S. stock market. [ABSTRACT FROM AUTHOR]

Big data on job postings reveal multiple facets of the impact of COVID-19 on corporate hiring. Firms disproportionately cut new hiring for high-skill positions, with financially constrained firms reducing skilled hiring the most. Applying machine learning methods to job-ad texts, we find that firms have skewed their hiring toward operationally-core functions. New positions display greater flexibility regarding schedules and tasks. While job posting levels show signs of recovery starting in late-2020, changes to job descriptions and skill profiles persist through early-2022. Financial constraints amplify these changes, with constrained firms' new hires witnessing greater adjustments to job roles and employment arrangements. [ABSTRACT FROM AUTHOR]

Using the 2016 U.S. presidential election result as a shock to the expectations about the future regulatory environment, I find that most regulated firms earned approximately 4% higher cumulative abnormal stock returns than least regulated firms during the first 10 trading days after the election. Exploring economic mechanisms, I find evidence consistent with the explanation that more regulations disproportionately harm high-growth firms and allow incumbent firms to extract rents through lower competition and political favoritism. Stock returns are also followed by a shift in firm fundamentals over 3 years after 2016, consistent with the economic mechanisms. [ABSTRACT FROM AUTHOR]

Exploiting two quasi-natural experiments, we find that firms increase emissions of toxic pollution following decreases in analyst coverage. The effects are stronger for firms with low initial analyst coverage, poor corporate governance, and firms subject to less stringent monitoring by environmental regulators. Decreases in environmental-related questions raised in conference calls, an increased cost of monitoring to institutional shareholders, reductions in pollution abatement investment, and the weakening of internal governance related to environmental performance are channels through which reduced analyst coverage contributes to increases in firm pollution. Our study highlights the monitoring role analysts play in shaping corporate environmental policies. [ABSTRACT FROM AUTHOR]

We document the causal effects of single-name options trading on the absolute level of information content of prices (stock price informativeness) by exploiting the Penny Pilot Program as an exogenous shock to options trading volume. We find that options trading increases underlying stock price informativeness and information acquisition by both option and stock investors, consistent with the framework of Goldstein and Yang (2015). The findings are driven by firms for which options are more important sources of information and firms with more efficiently priced options. Options market introduction in a sample of 25 other economies also leads to higher price informativeness. [ABSTRACT FROM AUTHOR]

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We estimate the effect of carbon pricing policy on bank credit to greenhouse-gas-emitting firms. Our analyses exploit the geographic restrictions inherent in California's cap-and-trade bill and a discontinuity in the embedded free permit threshold of the federal Waxman-Markey cap-and-trade bill. Affected high emission firms face shorter loan maturities, lower access to permanent forms of bank financing, higher interest rates, and higher participation of shadow banks in their lending syndicates. These effects are concentrated among private firms, while credit terms of public firms are largely unaffected. Overall, we show that banks respond quickly to realizations of transition risk. [ABSTRACT FROM AUTHOR]

Servitization is vital to manufacturing enterprises' competitive advantages and financial performance in contemporary digitalisation environments. Enterprises are increasingly relying on industrial Internet platforms to satisfy potential customers' needs as well as to create superior value, but the literature has neglected to explain how enterprises can leverage such digital platform to improve the efficiency and effectiveness of servitization. This study aims at describing how the industrial Internet platform can enable servitization of manufacturers. Based upon the meta-theoretical foundations of service-dominant logic, we identify the 'sense and respond' servitization strategy enabled by the industrial Internet platform. By performing a questionnaire survey, we find that the industrial Internet platform approach based on the connectivity and compatibility architecture can enable manufacturers to improve the efficiency of resource integration and resource reconfiguration, which facilitates the implementation of servitization via market perception. We argue that the industrial Internet platform affects an organisation's ability to sense the market and resource management actions; these operational resource actions are a significant antecedent of the servitization strategy. [ABSTRACT FROM AUTHOR]

Health care costs for U.S. employers have tripled over the past 20 years. Using firm-specific health expense data, I show that firms negatively adjust capital expenditures and R&D expenses in response to increases in health care costs. The effects are more pronounced for firms that are financially constrained, employ more high-skilled workers, and have less bargaining power relative to insurers. Furthermore, policy uncertainty surrounding health care costs is substantial and discourages capital investment. These findings suggest that an elevated level of health care costs and the associated uncertainty limit a firm's ability to expand physically or through innovation. [ABSTRACT FROM AUTHOR]

Amid an aging population and a growing role for private equity (PE) in the care of older adults, this paper studies how PE ownership affects U.S. nursing homes using patient-level Medicare data. We show that PE ownership leads to a patient cohort with lower health risk. However, after instrumenting for the patient-nursing home match, we find that PE ownership increases mortality by 11%. Declines in measures of patient well-being, nurse staffing, and compliance with care standards help to explain the mortality effect. Overall, we conclude that PE has nuanced effects with adverse outcomes for a subset of patients. [ABSTRACT FROM AUTHOR]

We advance a theoretical framework of how entrepreneurial ideas of employees are commercialized as a function of their uncertainty, firm-specificity, and appropriability. We argue that as uncertainty increases, the choice of commercialization mode will increasingly be driven by differences in subjective judgments of the idea's value, with firms having an advantage in assessing the true value of their employee's ideas relative to market because of their firm-specific nature. Building on this insight, we develop a formal model of commercialization choice that maps idea characteristics to commercialization outcomes—spinouts, internal commercialization, market mobility, or abandonment—while also predicting how these relationships will be moderated by the cost of startups, the value of the idea, and the institutional context, as well as how value will be created and appropriated within each mode. In particular, the model distinguishes between four different types of employee spinouts, including the previously neglected case where the employer sees value in an idea and wants to commercialize it, but the employee still prefers to start their own firm. We thus offer a more nuanced view of employee entrepreneurship, based on differences in subjective judgment under uncertainty, the firm-specific nature of employee knowledge, and appropriability regimes. [ABSTRACT FROM AUTHOR]

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The large divergence in the returns of top-performing star firms and the rest of the economy is substantially reduced when we account for the mismeasurement of intangible capital. Star firms produce and invest more per dollar in invested capital, have more valuable innovations as measured by the market value of patents, and are as exposed to competitive shocks as nonstars. Star firms have higher markups that are predicted early in their life cycle at a time when they are small. Overall, after we correct for the mismeasurement of intangibles, the evidence points to the superior ability of star firms. [ABSTRACT FROM AUTHOR]

We investigate whether firms' number of credit relationships with financial institutions affects labor market outcomes. Using 5 million observations on matched credit and labor panel data from Brazil, we estimate IV regressions, employing exogenous variation in firm-lender relationships due to nationwide bank M&A activity. Firms with more relationships employ more workers and pay higher wage bills. Credit availability, cost of credit, and financial institution heterogeneity are economic channels. The firm-level results translate into positive macroeconomic effects in municipalities and states. The evidence is novel and indicates the positive effects of multiple relationships on labor market outcomes in an emerging economy. [ABSTRACT FROM AUTHOR]

Organizations dominate our lives, yet how well do we really understand them, and their differences? To get past the one-size-fits-all notion of organization design, this article presents four forms of organizations—the personal enterprise, the programmed machine, the professional assembly, and the project pioneer—each with its own way of managing and crafting strategy. Many organizations come remarkably close to one of these forms, while others can be understood as hybrids of them. Nevertheless, since organizations are made up of people, every one of us different, every single organization structure must be customized through a process of design doing. [ABSTRACT FROM AUTHOR]

The impact of the technological regime, defined in terms of appropriability, cumulativeness, and opportunity conditions on firms, has been examined in multiple studies. Within the analysis of technological regimes, firm entry has been of consistent interest due to its implications on competition and how firms may decide to enter an industry. However, studies show that two sources of nonlinearities warrant closer inspection, which could be achieved by looking at the entry of individual firms. The first is the interaction effects of the various dimensions of technological regimes. Their relevance is supported by both theoretical and empirical evidence, the analysis of which could be valuable for identifying the mechanisms behind the relationship between the technological regime and firm entry. Another is the role heterogeneity among entrants plays on the impact of the technological regime on firm entry, which has been found to be an important factor in many other aspects of firm behavior. This study thus aims to examine these two sources of nonlinearities, which can have significant implications for both firm strategy and policy. [ABSTRACT FROM AUTHOR]