Managerial Foresight and Attempted Rent Appropriation : Insider Trading on Knowledge of Imminent Breakthroughs  

Oleh:

Coff, Russel W. ; Lee, Peggy M. ; Ahuja, Gautam

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 26 no. 9 (Sep. 2005), page 791-808.
Topik: Managerial; managerial foresight; resource - based view; rent appropriation; insider trading

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.20 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

In order to establish a competitive advantage, firms must acquire or create resources at a price below their value in use. Absent pure luck, this requires managers to exercise foresight about a resource's future value and / or complementarities with pre - existing capabilities. This foresight grants managers the opportunity to exploit information asymmetries for perdonal gain as well as building organizational capabilities. Nevertheless, there is limited research on the extent of foresight or how managers use it. In our study of insider trading, we found that manages purchase stock well befor breakthrough patents are field. We argue for further research on the extent of managerial foresight and how it affects rent generation and appropriation.

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