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The importance of slack for new organizations facing 'tough' environments
Baylor University.
Indiana University.
Högskolan i Jönköping, Internationella Handelshögskolan, IHH, ESOL (Entrepreneurship, Strategy, Organization, Leadership).
2011 (Engelska)Ingår i: Journal of Management Studies, ISSN 0022-2380, E-ISSN 1467-6486, Vol. 48, nr 5, s. 1071-1097Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

Strategy-based models centre on the management of unique and valuable resources to take advantage of specific market opportunities. Less examined in this approach are the roles of slack resources in the process of generating firm value – particularly for new firms in ‘tough’ environments where fewer opportunities are available. Using a cohort panel of 951 new manufacturing firms over nine years, our findings provide evidence for the importance of financial slack resources in understanding opportunity generation and also for reconciling theoretical arguments regarding the slack resource–performance link. We find that while financial slack does provide buffering capacity (in hostile and dynamic environments), and flexibility for experimentation (in munificent and dynamic environments) as suggested by prior theory, the most positive relationship between financial slack and performance for new firms was in low discretion environments (hostile and stable environments) – where firms need to develop their own opportunities. The implications of these findings for theory are discussed.

Ort, förlag, år, upplaga, sidor
2011. Vol. 48, nr 5, s. 1071-1097
Nationell ämneskategori
Företagsekonomi
Identifikatorer
URN: urn:nbn:se:hj:diva-17454DOI: 10.1111/j.1467-6486.2009.00906.xOAI: oai:DiVA.org:hj-17454DiVA, id: diva2:484616
Tillgänglig från: 2012-01-27 Skapad: 2012-01-27 Senast uppdaterad: 2017-12-08Bibliografiskt granskad

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Wiklund, Johan

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