Donald C. Hambrick
The Pennsylvania State University
Smeal College of Business




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Spring 2017

MGMT 578: Doctoral Seminar In Strategic Management

Professor Donald C. Hambrick
Office: 414 Business Building
Phone: 863-0917

Course Description
This course involves a critical review of theory and research in the field of strategic management. The scope of the course is comprehensive, encompassing the following domains: strategic content, strategic processes, top executives, and corporate governance. Particular emphasis is placed on empirical study of strategic issues.

The course is intended primarily for doctoral students who expect to conduct research in strategic management or related areas (e.g., organizational behavior, marketing strategy, corporate finance, industrial organization, sociology of organizations, organization theory, or complex decision making).

Each week we will examine a sub-area of strategic management. Our approach will typically involve reading the seminal works (or recent summaries or syntheses) on the topic and examining in depth several empirical works.

Each student will write a fully-developed proposal for an empirical study; the proposal may deal with any topic/question within the overall domain of strategic management. The proposal is expected to include 1) conceptual and literature background, 2) theory development and hypotheses, and 3) methodology.

There will be a take-home final examination consisting of several questions of an integrative nature.

Overall grading criteria are as follows:

Class participation (including leading research critiques) 1/3
Research proposal 1/3
Final exam 1/3

Course materials consist of excerpts from several books and numerous articles/papers.

1. Overview and Origins of the Field of Strategic Management

Andrews, K.R., 1971. The Concept of Corporate Strategy. (Chapters 1 and 2). Irwin.

Schendel, D.E. & Hofer, C.W., 1979. Strategic Management: A new view of business policy and planning. (1-22, 515-530). Little Brown.

Evered, R., 1980. "Review of Schendel and Hofer." Administrative Science Quarterly, 536-543.

Rumelt, R.P., Schendel, D., & Teece, R.J., 1994. "History of strategic management," Fundamental Issues in Strategy: A research agenda. (9-24). HBS Press.

Hoskisson, R., Hitt, M., Wan, W., & Yiu, D., 1999. "Theory and research in strategic management: Swings of a pendulum." Journal of Management, 417-456.

Hambrick, D.C. & Chen, M.J., 2008. "New academic fields as admittance-seeking social movements: The case of strategic management." Academy of Management Review, 32-54.

Powell, T., Lovallo, D., & Fox, C., 2011. Behavioral strategy. Strategic Management Journal, 1369-1386.

Hambrick, D.C. & Crossland, C., 2016. “A strategy for behavioral strategy.” Advances in Strategic Management, forthcoming.

2. Conceptualizing and Operationalizing Strategy

Chandler, A.D., 1962. Strategy and Structure: Chapters in the History of American Industrial Enterprise. (1-113). MIT Press.

Miles, R.E. & Snow, C.C., 1978. Organizational Strategy, Structure and Process.
(Read chapters 1-4; skim chapters 5-7). McGraw-Hill.

Mintzberg, H., 1978. "Patterns in strategy formation." Management Science, 934-948.

Shortell, S. & Zajac, E., 1990. Perceptual and archival measures of Miles and Snow’s strategic types: A comprehensive assessment of reliability and validity. Academy of Management Journal, 817-832. 

Inkpen, A. & Choudhury, N., 1995. "The seeking of strategy where it is not: Towards a theory of strategy absence." Strategic Management Journal, 313-323.

Porter, M.E., 1996. "What is strategy?" Harvard Business Review, 61-78.

Hambrick, D.C. 2003"forward" to the Classic Edition of Miles, R.E. & Snow, C.C., Organizational Strategy, Structure and Process. McGraw-Hill.

3. Industrial Organization Economics View of Strategy

Porter, M.E., 1980. Competitive Strategy: Techniques for Analyzing Industries and Competitor Analysis. (Chapters 1, 2, & 7). Free Press.

Porter, M.E., 1981. "The contributions of industrial organization to strategic management." Academy of Management Review, 609-620.

Schmalensee, R., 1985. "Do markets differ much?" American Economic Review, 341-351.

Rumelt, R.P., 1991. "How much does industry matter?" Strategic Management Journal, 167-185.

Reger, R.K. & Huff, A.S., 1993. "Strategic groups: A cognitive perspective." Strategic Management Journal, 103-124.

Powell, T.C., 1996. "How much does industry matter? An alternative empirical test." Strategic Management Journal, 323-334.

Grodal, S., Gotsopoulos, A., & Suarez, F.F., 2015. “The coevolution of technologies and categories during industry emergence.” Academy of Management Review, 423-445.

4. Resource-Based View of Strategy

Wernerfelt, B., 1984. "A resource-based view of the firm." Strategic Management Journal, 171-180.

Barney, J., 1991. "Firm resources and sustained competitive advantage." Journal of Management, 99-120.

Peteraf, M.A., 1993. "The cornerstones of competitive advantage: A resource-based view." Strategic Management Journal, 179-191.

Henderson, R. & Cockburn, I., 1994. "Measuring competence? Exploring firm effects in pharmaceutical research." Strategic Management Journal, 63-84.

Priem, R. & Butler, J., 2001. "Is the resource-based view a useful perspective for strategic management research?" Academy of Management Review, 22-40.

Adner, R. & Helfat, C.R., 2003. "Corporate effects and dynamic managerial capabilities." Strategic Management Journal, 1011-1025.

Hsu, D.H. & Ziedonis, R.H., 2013. "Resources as dual sources of advantage: Implications for valuing entrepreneurial-firm patents." Strategic Management Journal, 761-781.

5. Schumpeterian/Dynamic View of Strategy

MacMillan, I.C., McCaffery, M.L. & Van Wijk, G., 1985. "Competitors' responses to easily imitated new products - Exploring commercial banking product introductions." Strategic Management Journal, 75-86.

D'Aveni, R., 1994. (Introduction) Hypercompetition: Managing the Dynamics of Strategic Maneuvering. (1-36). Free Press.

Jacobson, R., 1992. "The 'Austrian' school of strategy." Academy of Management Review, 782-807.

Chen, M-J. & Hambirck, D.C., 1995. "Speed, stealth, and selective attach: How small firms differ from large firms in competitive behavior." Academy of Management Journal, 453-482.

Ferrier, W.J., Smith, K.G., & Grimm, C.M., 1999. "The role of competitive action in market share erosion and industry dethronement: A study of industry leaders and challengers." Academy of Management Journal, 372-388.

McNamara, G., Vaaler, P.M., and Devers, C., 2003. "Same as it ever was: The search for evidence of increasing hypercompetition." Strategic Management Journal, 261-278.

Shamsie, J., Phelps, C., & Kupenman, J., 2004. "Better late than never: A study of late entrants in household electrical equipment." Strategic Management Journal, 69-84.

Hsieh, K., Tsai, W., & Chen, M. 2015. If they can do it, why not us? Competitors as reference points for justifying escalation of commitment. Academy of Management Journal, 38-58.

6. Learning and Knowledge-Based View of Strategy

Lieberman, M., 1984. "The learning curve and pricing in the chemical processing industries." Rand Journal of Economics, 213-228.

Cohen, W.M. & Levinthal, D.A., 1990. "Absorptive capacity: A new perspective on learning and innovation." Administrative Science Quarterly, 128-152.

Mowery, D.C., Oxley, J.E., and Silverman, B.S., 1996. "Strategic alliances and interfirm knowledge transfer." Strategic Management Journal, 77-91.

Haleblian, J. & Finkelstein, S., 1999. "The influence of organizational acquisition experience on acquisition performance: A behavioral learning perspective." Administrative Science Quarterly, 29-56.

Hayward, M.L.A., 2002. "When do firms learn from their acquisition experience? Evidence from 1990-1995." Strategic Management Journal, 21-39.

Benner, M.J. & Tushman, M., 2002. "Process management and technological innovation: A longitudinal study of the photography and paint industries." Administrative Science Quarterly, 676-706.

Zollo, M. & Singh, H., 2004. "Deliberate learning in corporate acquisitions: Post-acquisition strategies and integration capability in U.S. bank mergers." Strategic Management Journal, 1233-1256.

7. Corporate-Level Strategy: Product-Market Diversification

Rumelt, R.P., 1974. Strategy, Structure, and Economic Performance. (1-127). Harvard.

Rumelt, R.P., 1982. "Diversification strategy and profitability." Strategic Management Journal, 359-369.

Prahalad, C.K. and Bettis, R.A., 1986. "The dominant logic: A new linkage between diversity and performance." Strategic Management Journal, 485-501.

Palich, L.E., Cardinal, L.B., & Miller, C.C., 2000. "Curvilinearity in the diversification-performance linkage: An examination of over three decades of research." Strategic Management Journal, 155-174.

Bowman, E.H. & Helfat, C.E., 2001. "Does corporate strategy matter?" Strategic Management Journal, 1-23.

Chakratarti, A., Singh, K., & Mahmood, I., 2007. "Diversification and performance: Evidence from east Asian firms." Strategic Management Journal, 101-120.

Neffke, F. & Henning, M., 2013. Skill relatedness and firm diversification. Strategic Management Journal, 297-316.

8. Corporate-Level Strategy: Altering the Scope of the Firm

Duhaime, I.M. & Grant, J.H., 1984. "Factors influencing divestment decision-making: Evidence from a field study." Strategic Management Journal, 301-318.

Bethel, J.E. & Liebeskind, J., 1993. "The effects of ownership structure on corporate restructuring." Strategic Management Journal, 15-31.

Wiersema, M.F. & Bantel, K.A., 1992. "Top management team demography and corporate strategic change." Academy of Management Journal, 91-121.

Capron, L., Mitchell, W., & Swaminathan, A., 2001. "Asset divestiture following horizontal acquisitions: A dynamic view." Strategic Management Journal, 817-844.

Capron, L. and Pistre, N., 2002. "When do acquirers earn abnormal returns?" Strategic Management Journal, 781-794.

McNamara, G.M., Haleblian, J., and Dykes, B.J., 2008. "The performance implications of participating in an acquisition wave: Early mover advantages, bandwagon effects, and the moderating influence of industry characteristics and acquirer tactics." Academy of Management Journal, 113-130.

Xia, J. & Li, S., 2013. The divestiture of acquired subunits: a resource dependence approach. Strategic Management Journal, 131-148.

9. International Strategy

Bartlett, C. & Ghoshal, S. 1989. Managing Across Borders: The Transnational Solution. (Chapter 1). Harvard Business School Press.

Kobrin, S., 1991. "An empirical analysis of the determinants of global integration." Strategic Management Journal, 17-31.

Mitchell, W., Shaver, J.M., & Yeung, B., 1992. "Getting there in a global industry: Impacts on performance of changing international presence." Strategic Management Journal, 419-432.

Gupta, A., & Govindarajan, V., 2000. "Knowledge flows within multinational corporations." Strategic Management Journal, 473-496.

Vermeulen, F. & Barkema, H., 2002. "Pace, rhythm, and scope: Process dependence in building a profitable multinational corporation." Strategic Management Journal, 637-653.

Frynas, J.G., Mellahi, K., & Pigman, G.A., 2006. "First mover advantages in international business and firm-specific political resources." Strategic Management Journal, 321-345.

Crilly, D., Ni, N., & Jiang, Y., 2016. “Do-no-harm versus do-good social responsibility: Attributional thinking and the liability of foreignness.” Strategic Management Journal, 1316-1329.

10. Top Executives and the Upper-Echelons Perspective

Hambrick, D. & Mason, P., 1984. "Upper echelons: The organization as a reflection of its top managers." Academy of Management Review, 193-206.

Eisenhardt, K.M. & Schoonhoven, C.B., 1990. "Organizational growth: Linking founding team, strategy, environment, and growth among U.S. semiconductor ventures, 1978-1988." Administrative Science Quarterly, 504-529.

Finkelstein, S. & Hambrick, D.C., 1990. "Top management team tenure and organizational outcomes: The moderating role of managerial discretion." Administrative Science Quarterly, 484-503.

Carpenter, M.A., Sanders, W.G., & Gregersen, H.B., 2001. "Bundling human capital with organizational context: The impact of international assignment experience on multinational firm performance and CEO pay." Academy of Management Journal, 493-511.

Hambrick, D.C., 2005. "Upper echelons theory: Origins, twists and turns, and lessons learned," in K.G. Smith and M.A. Hitt (eds.), Great Minds in Management: The Process of Theory Development, 109-127.

Chatterjee, A. & Hambrick, D.C., 2007. "It's all about me: Narcissistic CEOs and their effects on company strategy and performance. Administrative Science Quarterly, 351-386.

Nadkarni, S. & Herrmann, P., 2010. "CEO personality, strategic flexibility, and firm performance: The case of the Indian business process outsourcing industry." Academy of Management Journal, 1050-1073.

Gupta, A., Briscoe, F., & Hambrick, D.C. “A values-based explanation for egalitarian resource allocation in organizations.” Working paper.

11. Governance and Agency Theory

Fama, E., 1980. "Agency problems and the theory of the firm." Journal of Political Economy, 288-307.

Morck, R., Shleifer, A., & Vishny, R., 1988. "Management ownership and market valuation: An empirical analysis." Journal of Financial Economics, 293-315.

Hambrick, D.C. & Finkelstein, S., 1995. "The effects of ownership structure on conditions at the top: The case of CEO pay raises." Strategic Management Journal, 175-193.

Dalton, D., Daily, C., Ellstrand, A., & Johnson J., 1998. "Meta-analytic reviews of board composition, leadership structure, and financial performance." Strategic Management Journal, 269-290.

Westphal, J.D. & Fredrickson, J.W., 2001. "Who directs strategic change? Director experience, the selection of new CEOs, and change in corporate strategy." Strategic Management Journal, 1113-1137.

Boivie, S., Lange, D., McDonald, M.L., & Westphal, J.D., 2011. "Me or we: The effects of CEO organizational identification on agency costs." Academy of Management Journal, 551-576.

Hambrick, D.C., Misangyi, V.F., & Park, C.A., 2015. “The quad model for identifying a corporate director’s potential for effective monitoring: Toward a new theory of board sufficiency.” Academy of Management Review, 323-344.

12. Strategy and Organizational Design

Teece, D.J., 1981. "Internal organization and economic performance: An empirical analysis of the profitability of principle firms." Journal of Industrial Economics, 173-199.

Hoskisson, R.E., 1987. "Multidivisional structure and performance: The contingency of diversification strategy." Academy of Management Journal, 625-644.

Amburgey, T.L. & Dacin, T., 1994. "As the left foot follows the right? The dynamics of strategic and structural change." Academy of Management Journal, 1427-1452.

Tsai, W., 2002. "Social structure of 'coopetition' within a multiunit organization: Coordination, competition, and intra-organizational knowledge sharing." Organization Science, 179-190.

Collis, D., Young, D., & Goold, M., 2007. "The size, structure, and performance of corporate headquarters." Strategic Management Journal, 383-405.

Csaszar, F.A., 2012. "Organizational structure as a determinant of performance: Evidence from mutual funds." Strategic Management Journal, 611-632.

Vuoir, T.O. & Huy, Q.N., 2016. “Distributed attention and shared emotions in the innovation process: How Nokia lost the smartphone battle.” Administrative Science Quarterly, 9-51.

13. Strategic Processes: Organizational and Social Factors

Bower, J.L., 1970. Managing the Resource Allocation Process. (Chapters 1, 2, and 3). Harvard Business School.

Mintzberg, H., Raisinghani, D., & Theoret, A., 1976. "The structure of unstructured decision processes." Administrative Science Quarterly, 246-275.

Eisenhardt, K.M. & Bourgeois, L.J., 1988. "Politics of strategic decision making in high-velocity environments: Toward a midrange theory." Academy of Management Journal, 737-770.

Burgelman, R.A., 1996. "A process model of strategic business exit: Implications for an evolutionary perspective on strategy." Strategic Management Journal, 193-214.

Guler, I, 2007. "Throwing good money after bad? Political and institutional influences on sequential decision making in the venture capital industry." Administrative Science Quarterly, 248-285.

Reitzig, M. & Sorenson, O., 2013. "Biases in the selection stage of bottom-up strategy formulation." Strategic Management Journal, 782-799.

14. Strategic Processes: Human and Team Factors

Fredrickson, J.W. & Mitchell, T.R., 1984. "Strategic decision processes: Comprehensiveness and performance in an industry with an unstable environment." Academy of Management Journal, 399-423.

Schweiger, D.M., Sandberg, W.R., & Ragan, J.W., 1986. "Group approaches for improving strategic decision making: A comparative analysis of dialectical inquiry, devil's advocacy, and consensus." Academy of Management Journal, 51-71.

Fredrickson, J.W. & Iaquinto, A.L., 1989. "Inertia and creeping rationality in strategic decision processes." Academy of Management Journal, 516-542.

Ocasio, W., 1997. "Towards an attention-based view of the firm." Strategic Management Journal, 187-206.

Audia, P.G., Locke, E.A., & Smith, K.G., 2000. "The paradox of success: An archival and a laboratory study of strategic persistence following radical environmental change." Academy of Management Journal, 837-853.

Cho, T.S. & Hambrick, D.C., 2006. "Attention as the mediator between top management team characteristics and strategic change: The case of airline deregulation." Organization Science, 453-469.

Li, Q., Maggitti, P.G., Smith, K.G., Tesluk, P.E., & Katila, R., 2013. "Top management attention to innovation: The role of search selection and intensity in new product introductions." Academy of Management Journal, 893-916.

15. Student Research Presentations

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