Resolving the commitment versus flexibility trade-off: The role of resource accumulation lags

被引：0

作者：

Pacheco-De-Almeida, Goncalo ^{[1
]}

Henderson, James E. ^{[2
]}

Cool, Karel O. ^{[3
]}

机构：

[1] NYU, Leonard N Stern Sch Business, New York, NY 10003 USA

[2] Int Inst Management Dev, Lausanne, Switzerland

[3] INSEAD, Fontainebleau, France

来源：

ACADEMY OF MANAGEMENT JOURNAL | 2008年 / 51卷 / 03期

关键词：

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We examine how time-consuming resource accumulation influences the classic strategy trade-off between commitment and flexibility. In particular, using 1975-95 data from the worldwide petrochemical industry, we study the impact of new plants' time-to-build on firms' decisions to invest under uncertainty. Our results suggest a nontrivial positive effect of resource accumulation lags on investment. Contradicting conventional wisdom, we show that competition may be fiercer in industries in which Arms accumulate resources more slowly and that uncertainty is not always a disincentive for investment. The robustness of these results is only diminished for extremely long resource accumulation lags.

引用

页码：517 / 536

页数：20

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