Analyst Reaction to War-Related Language: Source Domains and the Role of Market Structure and Market Share

References

• Agarwal R, Anand J, Bercovitz J, Croson R (2012) Spillovers across organizational architectures: The role of prior resource allocation and communication in post‐acquisition coordination outcomes. Strategic Management J. 33(6):710–733.Crossref, Google Scholar
• Alan K (2001) Natural Language Semantics (Blackwell, Oxford, UK).Google Scholar
• Alexandrescu L (2014) Mephedrone, assassin of youth: The rhetoric of fear in contemporary drug scares. Crime Media Culture 10(1):23–37.Crossref, Google Scholar
• Audebrand LK (2010) Sustainability in strategic management education: The quest for new root metaphors. Acad. Management Learn. Ed. 9(3):413–428.Google Scholar
• Bartel CA, Garud R (2009) The role of narratives in sustaining organizational innovation. Organ. Sci. 20(1):107–117.Link, Google Scholar
• Bates B (2020) The (in)appropriateness of the WAR metaphor in response to SARS-CoV-2: A rapid analysis of Donald J. Trump’s rhetoric. Frontiers Comm. 5(50):1–12.Google Scholar
• Besanko D, Dranove D, Shanley M, Schafter S (1996) Economics of Strategy (John Wiley & Sons, Hoboken, NJ).Google Scholar
• Black M (1962) Models and Metaphors: Studies in Language and Philosophy (Cornell University Press, Ithaca, NY).Crossref, Google Scholar
• Bloom N (2009) The impact of uncertainty shocks. Econometrica 77(3):623–685.Crossref, Google Scholar
• Bochkay K, Hales J, Chava S (2020) Hyperbole or reality? Investor response to extreme language in earnings conference calls. Accounting Rev. 95(2):31–60.Crossref, Google Scholar
• Bodnaruk A, Simonov A (2016) Loss-averse preferences, performance, and career success of institutional investors. Rev. Financial Stud. 29(11):3140–3176.Crossref, Google Scholar
• Boone C, Lokshin B, Guenter H, Belderbos R (2019) Top management team nationality diversity, corporate entrepreneurship, and innovation in multinational firms. Strategic Management J. 40(2):277–302.Crossref, Google Scholar
• Bowdle BF, Gentner D (2005) The career of metaphor. Psych. Rev. 112(1):193–216.Crossref, Google Scholar
• Bowers A (2015) Relative comparison and category membership: The case of equity analysts. Organ. Sci. 26(2):571–583.Link, Google Scholar
• Boyd B (1990) Corporate linkages and organizational environment: A test of the resource dependence model. Strategic Management J. 11(6):419–430.Crossref, Google Scholar
• Bradley MM, Lang PJ (1999) Affective norms for English words (ANEW): Instructional manual and affective ratings. Technical Report No. C-1, Center for Research in Psychophysiology, University of Florida, Gainesville.Google Scholar
• Brauer M, Wiersema M (2018) Analyzing analyst research: A review of past coverage and recommendations for future research. J. Management 44(1):218–248. Crossref, Google Scholar
• Breeze R (2013) Corporate Discourse (A&C Black, London).Google Scholar
• Brown GW, Cliff MT (2004) Investor sentiment and the near-term stock market. J. Empirical Finance 11(1):1–27.Crossref, Google Scholar
• Bulow J, Geanakoplos J, Klemperer P (1985) Multimarket oligopoly: Strategic substitutes and complements. J. Political Econom. 93(3):488–511.Crossref, Google Scholar
• Burgoon JK (1993) Interpersonal expectations, expectancy violations, and emotional communication. J. Language Soc. Psych. 12(1–2):30–48.Crossref, Google Scholar
• Busenbark JR, Lange D, Certo ST (2017) Foreshadowing as impression management: Illuminating the path for security analysts. Strategic Management J. 38(12):2486–2507.Crossref, Google Scholar
• Busenbark JR, Yoon H(E), Gamache DL, Withers MC (2021) Omitted variable bias: Examining management research with the impact threshold of a confounding variable (ITCV). J. Management 48(1):17–48.Google Scholar
• Bushee BJ, Gow ID, Taylor DJ (2018) Linguistic complexity in firm disclosures: Obfuscation or information? J. Accounting Res. 56(1):85–121.Crossref, Google Scholar
• Campbell JT, Sirmon DG, Schijven M (2016) Fuzzy logic and the market: A configurational approach to investor perceptions of acquisition announcements. Acad. Management J. 59(1):163–187.Crossref, Google Scholar
• Capron L, Dussauge P, Mitchell W (1998) Resource redeployment following horizontal acquisitions in Europe and North America, 1988–1992. Strategic Management J. 19(7):631–661.Crossref, Google Scholar
• Carow K, Heron R, Saxton T (2004) Do early birds get the returns? An empirical investigation of early‐mover advantages in acquisitions. Strategic Management J. 25(6):563–585.Crossref, Google Scholar
• Certo ST, Busenbark JR, Kalm M, LePine JA (2018) Divided we fall: How ratios undermine research in strategic management. Organ. Res. Methods 23(2):211–237.Crossref, Google Scholar
• Charteris-Black J (2017) Competition metaphors and ideology: Life as a race. Wodak R, Forchtner B, eds. The Routledge Handbook of Language and Politics (Routledge, New York), 202–217.Crossref, Google Scholar
• Chiang WY, Duann RF (2007) Conceptual metaphors for SARS: “War” between whom? Discourse Soc. 18(5):579–602.Crossref, Google Scholar
• Chilton P, Lakoff G (1995) Foreign policy by metaphor. Schaffner C, Wenden A, eds. Language and Peace (Ashgate, Aldershot, UK), 37–60.Google Scholar
• Chow GC (1960) Tests of equality between sets of coefficients in two linear regressions. Econometrica 28(3):591–605. Crossref, Google Scholar
• Citron FMM, Goldberg AE (2014) Metaphorical sentences are more emotionally engaging than their literal counterparts. J. Cognitive Neuroscience 26(11):2585–2595.Crossref, Google Scholar
• Citron FMM, Güsten J, Michaelis N, Goldberg AE (2016) Conventional metaphors in longer passages evoke affective brain response. NeuroImage 139(1):218–230.Crossref, Google Scholar
• Clarke JS, Cornelissen JP, Healey M (2019) Actions speak louder than words: How figurative language and gesturing in entrepreneurial pitches influences investment judgments. Acad. Management J. 62(2):335–360.Crossref, Google Scholar
• Compte O, Jenny F, Rey P (2002) Capacity constraints, mergers, and collusion. Eur. Econom. Rev. 46(1):1–29.Crossref, Google Scholar
• Cornelissen JP, Clarke JS (2010) Imagining and rationalizing opportunities: Inductive reasoning and the creation and justification of new ventures. Acad. Management Rev. 35(4):539–557.Crossref, Google Scholar
• Cornelissen JP, Durand R (2014) Moving forward: Developing theoretical contributions in management studies. J. Management Stud. 51(6):995–1022.Crossref, Google Scholar
• Cornelissen JP, Holt R, Zundel M (2011) The role of analogy and metaphor in the framing and legitimization of strategic change. Organ. Stud. 32(12):1701–1716.Crossref, Google Scholar
• Cruse A (2004) Meaning in Language. An Introduction to Semantics and Pragmatics (Oxford University Press, Oxford, UK).Google Scholar
• Cuypers IRP, Cuypers Y, Martin X (2017) When the target may know better: Effects of experience and information asymmetries on value from mergers and acquisitions. Strategic Management J. 38(3):609–625.Crossref, Google Scholar
• Dancygier B, Sweetser E (2014) Figurative Language (Cambridge University Press, Cambridge, UK).Google Scholar
• Dess GG, Beard DW (1984) Dimensions of organizational task environments. Admin. Sci. Quart. 29(1):52–73.Crossref, Google Scholar
• Devers CE, Wuorinen S, McNamara G, Haleblian J, Gee IH, Kim J (2020) An integrative review of the emerging behavioral acquisition literature: Charting the next decade of research. Acad. Management Ann. 14(2):869–907.Crossref, Google Scholar
• Dunford R, Palmer I (1996) Metaphors in popular management discourse: The case of corporate restructuring. Grant D, Oswick C, eds. Metaphor and Organizations (Sage, Beverly Hills, CA), 95–109.Google Scholar
• Dushnitsky G, Sarkar S (2022) Here comes the sun: The impact of incidental contextual factors on entrepreneurial resource acquisition. Acad. Management J. 65(1):66–92.Crossref, Google Scholar
• Elwood WN (1995) Declaring war on the home front: Metaphor, presidents, and the war on drugs. Metaphor Symbol 10(2):93–114.Crossref, Google Scholar
• Epstein S (2010) Demystifying intuition: What it is, what it does, and how it does it. Psych. Inquiry 21(4):295–312. Crossref, Google Scholar
• Eubanks P (2000) A War of Words in the Discourse of Trade: The Rhetorical Construction of Metaphor (SIU Press, Carbondale, IL).Google Scholar
• Fanelli A, Misangyi VF, Tosi HL (2009) In charisma we trust: The effects of CEO charismatic visions on securities analysts. Organ. Sci. 20(6):1011–1033.Link, Google Scholar
• Fehn A (2016) The effects of metaphorical framing in CEOs’ communication on stakeholders’ evaluations of firms. Acad. Management Proc., vol. 2016, no. 1 (Academy of Management, Briarcliff Manor, NY), 17098.Google Scholar
• Finucane ML, Alhakarni A, Slovic P, Johnson SM (2000) The affect heuristic in judgments of risks and benefits. J. Behav. Decision Making 13(1):1–17.Crossref, Google Scholar
• Fiol CM (2002) Capitalizing on paradox: The role of language in transforming organizational identities. Organ. Sci. 13(6):653–666.Link, Google Scholar
• Flusberg SJ, Matlock T, Thibodeau PH (2017) Metaphors for the war (or race) against climate change. Environ. Comm. 11(6):769–783.Crossref, Google Scholar
• Flusberg SJ, Matlock T, Thibodeau PH (2018) War metaphors in public discourse. Metaphor Symbol 33(1):1–18.Crossref, Google Scholar
• Frankel R, Johnson M, Skinner DJ (1999) An empirical examination of conference calls as a voluntary disclosure medium. J. Accounting Res. 37(1):133–150.Crossref, Google Scholar
• Gamache DL, McNamara G (2019) Responding to bad press: How CEO temporal focus influences the sensitivity to negative media coverage of acquisitions. Acad. Management J. 62(3):918–943.Crossref, Google Scholar
• Gamache DL, McNamara G, Mannor MJ, Johnson RE (2015) Motivated to acquire? The impact of CEO regulatory focus on firm acquisitions. Acad. Management J. 58(4):1261–1282.Crossref, Google Scholar
• Gao H, Yu T, Canella AA (2015) The use of public language in strategy: A multidisciplinary review and research agenda. J. Management 42(1):21–54.Google Scholar
• Gavetti G, Levinthal DA, Rivkin JW (2005) Strategy making in novel and complex worlds: The power of analogy. Strategic Management J. 26(8):691–712.Crossref, Google Scholar
• General Inquirer (2023) Descriptions of inquirer categories and use of inquirer dictionaries. Retrieved September 11, https://inquirer.sites.fas.harvard.edu/.Google Scholar
• Gentner D, Bowdle BF (2001) Convention, form, and figurative language processing. Metaphor Symbol 16(3–4):223–247.Crossref, Google Scholar
• George DR, Whitehouse ER, Whitehouse PJ (2016) Asking more of our metaphors: Narrative strategies to end the “war on Alzheimer’s” and humanize cognitive aging. Amer. J. Bioethics 16(10):22–24.Crossref, Google Scholar
• Ghemawat P, Ghadar F (2000) The dubious logic of global megamergers. Harvard Bus. Rev. 78(4):65–72.Google Scholar
• Gibbs RW Jr (2011) Are “deliberate” metaphors really deliberate?: A question of human consciousness and action. Metaphor Soc. World 1(1):26–52.Crossref, Google Scholar
• Giorgi S (2017) The mind and heart of resonance: The role of cognition and emotions in frame effectiveness. J. Management Stud. 54(5):711–738.Crossref, Google Scholar
• Goatly A (2007) Washing the Brain: Metaphor and Hidden Ideology (John Benjamins Publishing, Amsterdam).Crossref, Google Scholar
• Graffin SD, Carpenter MA, Boivie S (2011) What’s all that (strategic) noise? Anticipatory impression management in CEO succession. Strategic Management J. 32(7):748–770.Crossref, Google Scholar
• Graffin SD, Haleblian JJ, Kiley JT (2016) Ready, AIM, acquire: Impression offsetting and acquisitions. Acad. Management J. 59(1):232–252.Crossref, Google Scholar
• Greene WH (2012) Econometric Analysis (Pearson, Boston).Google Scholar
• Greve H (2008) Multimarket contact and sales growth: Evidence from insurance. Strategic Management J. 29(3), 229–249.Crossref, Google Scholar
• Guo W, Sengul M, Yu T (2020) Rivals’ negative earnings surprises, language signals, and firms’ competitive actions. Acad. Management J. 63(3):637–659.Crossref, Google Scholar
• Guo W, Sengul M, Yu T (2021) The impact of executive verbal communication on the convergence of investors’ opinions. Acad. Management J. 64(6):1763–1792.Crossref, Google Scholar
• Hannigan TR, Haans RF, Vakili K, Tchalian H, Glaser VL, Wang MS, Kaplan S, Jennings PD (2019) Topic modeling in management research: Rendering new theory from textual data. Acad. Management Ann. 13(2):586–632.Crossref, Google Scholar
• Hayward ML, Hambrick DC (1997) Explaining the premiums paid for large acquisitions: Evidence of CEO hubris. Admin. Sci. Quart. 42(1):103–127.Crossref, Google Scholar
• Hendricks RK, Demjén Z, Semino E, Boroditsky L (2018) Emotional implications of metaphor: Consequences of metaphor framing for mindset about cancer. Metaphor Symbol 33(4):267–279.Crossref, Google Scholar
• Hicks JR (1935) Annual survey of economic theory: The theory of monopoly. Econometrica 3(1):1–20.Crossref, Google Scholar
• Hirshleifer D, Levi Y, Lourie B, Teoh SH (2019) Decision fatigue and heuristic analyst forecasts. J. Financial Econom. 133(1):83–98.Crossref, Google Scholar
• Hirshleifer D, Lourie B, Ruchti TG, Truong P (2021) First impression bias: Evidence from analysts’ forecasts. Rev. Finance 25(2):325–364.Crossref, Google Scholar
• Hughes-Morgan M, Kolev K, McNamara G (2018) A meta-analytic review of competitive aggressiveness research. J. Bus. Res. 85:73–82.Crossref, Google Scholar
• Hurdle G (1974) Leverage, risk, market structure and profitability. Rev. Econom. Statist. 56(4):478–495.Crossref, Google Scholar
• Huyghebaert N, Van de Gucht LM (2004) Incumbent strategic behavior in financial markets and the exit of entrepreneurial start-ups. Strategic Management J. 25(7):669–688.Crossref, Google Scholar
• Ivaldi M, Jullien B, Rey P, Seabright P, Tirole J (2003) The economics of tacit collusion. IDEI Working Paper No. 186, European Commission, Brussels, Belgium.Google Scholar
• Kimbrough MD, Louis H (2011) Voluntary disclosure to influence investor reactions to merger announcements: An examination of conference calls. Accounting Rev. 86(2):637–667.Crossref, Google Scholar
• King DR, Dalton DR, Daily CM, Covin JG (2004) Meta-analyses of post-acquisition performance: Indicators of unidentified moderators. Strategic Management J. 25(2):187–200.Crossref, Google Scholar
• Koller V (2002) “A shotgun wedding”: Co-occurrence of war and marriage metaphors in mergers and acquisitions discourse. Metaphor Symbol 17(3):179–203.Crossref, Google Scholar
• König A, Mammen J, Luger J, Fehn A, Enders A (2018) Silver bullet or ricochet? CEOs’ use of metaphorical communication and infomediaries’ evaluations. Acad. Management J. 61(4):1196–1230.Crossref, Google Scholar
• Kothari SP, Li X, Short JE (2009) The effect of disclosures by management, analysts, and business press on cost of capital, return volatility, and analyst forecasts: A study using content analysis. Accounting Rev. 84(5):1639–1670.Crossref, Google Scholar
• Kövecses Z (2010) Metaphor: A Practical Introduction (Oxford University Press, Oxford, UK).Google Scholar
• Lakoff G (1987) Image metaphors. Metaphor Symbolic Activity 2(3):219–222.Crossref, Google Scholar
• Lakoff G, Johnson M (1980) Metaphors We Live by (University of Chicago Press, Chicago).Google Scholar
• Lakoff G, Espenson J, Schwartz A (1991) Master Metaphor List (University of California, Berkeley).Google Scholar
• Landau MJ, Arndt J, Cameron LD (2018) Do metaphors in health messages work? Exploring emotional and cognitive factors. J. Experiment. Soc. Psych. 74:135–149.Crossref, Google Scholar
• Leung AK, Kim S, Polman E, Ong LS, Qiu L, Goncalo JA, Sanchez-Burks J (2012) Embodied metaphors and creative “acts”. Psych. Sci. 23(5):502–509.Crossref, Google Scholar
• Levy N, Harmon-Jones E (2013) Emotional responses to violated expectations. Frontiers Human Neuroscience 7.Google Scholar
• Lizardo O (2012) The conceptual bases of metaphors of dirt and cleanliness in moral and non-moral reasoning. Cognitive Linguistics 23(2):367–393.Crossref, Google Scholar
• Loewenstein GF, Weber EU, Hsee CK, Welch N (2001) Risk as feelings. Psych. Bull. 127(2):267–286.Crossref, Google Scholar
• Makadok R (2011) The four theories of profit and their joint effects. J. Management 37(5):1316–1334.Google Scholar
• Markman G, Gianiodis P, Buchholtz A (2009) Factor-market rivalry. Acad. Management Rev. 34(3):423–441.Crossref, Google Scholar
• Morck R, Shleifer A, Vishny RW (1990) Do managerial objectives drive bad acquisitions? J. Finance 45(1):31–48.Crossref, Google Scholar
• Morgan G (1986) Images of Organization (Sage, Beverly Hills, CA).Google Scholar
• Morgan P (2008) Competition, cooperation, and interconnection: “Metaphor families” and social systems. Kristiansen G, Dirven R, eds. Cognitive Sociolinguistics: Language Variation, Cultural Models, Social Systems (De Gruyter Mouton, Berlin), 483–516.Crossref, Google Scholar
• Morgan P, Bales S (2002) Competition, cooperation, and connection: How these metaphors affect child advocacy. Frameworks Inst. Kids Count E-Zine 11:1–2.Google Scholar
• Morris MW, Sheldon OJ, Ames DR, Young MJ (2007) Metaphors and the market: Consequences and preconditions of agent and object metaphors in stock market commentary. Organ. Behav. Human Decision Making Processes 102(2):174–192.Crossref, Google Scholar
• Ortony A (1979) Beyond literal similarity. Psych. Rev. 86(3):161–180.Crossref, Google Scholar
• Pan L, Li X, Chen J, Chen T (2020) Sounds novel or familiar? Entrepreneurs’ framing strategy in the venture capital market. J. Bus. Venturing 35(2):105930.Crossref, Google Scholar
• Pan L, McNamara GM, Lee J, Haleblian JM, Devers CE (2018) Give it to us straight (most of the time): Top managers’ use of concrete language and its effect on investor reactions. Strategic Management J. 39(8):2204–2225.Crossref, Google Scholar
• Panzeri F, Di Paola S, Domaneschi F (2021) Does the COVID-19 war metaphor influence reasoning? PLoS One 16(4):e0250651.Crossref, Google Scholar
• Pennebaker J, Booth R, Boyd R, Francis M (2015) Linguistic Inquiry and Word Count: LIWC2015 (Pennebaker Conglomerates, Austin, TX).Google Scholar
• Petrenko OV, Aime F, Recendes T, Chandler JA (2019) The case for humble expectations: CEO humility and market performance. Strategic Management J. 40(12):1938–1964.Crossref, Google Scholar
• Post C, Lokshin B, Boone C (2022) What changes after women enter top management teams? A gender-based model of strategic renewal. Acad. Management J. 65(1):273–303.Crossref, Google Scholar
• Pragglejaz Group (2007) MIP: A method for identifying metaphorically used words in discourse. Metaphor Symbol 22(1):1–39.Crossref, Google Scholar
• Ramaswamy V, Gatignon H, Reibstein DR (1994) Competitive marketing behavior in industrial markets. J. Marketing 58(2):45–55.Crossref, Google Scholar
• Rhee EY, Fiss PC (2014) Framing controversial actions: Regulatory focus, source credibility, and stock market reaction to poison pill adoption. Acad. Management J. 57(6):1734–1758.Crossref, Google Scholar
• Rhoades SA, Rutz RD (1982) Market power and firm risk: A test of the “quiet life” hypothesis. J. Monetary Econom. 9(1):73–85.Crossref, Google Scholar
• Rindova VP, Becerra M, Contardo I (2004) Enacting competitive wars: Competitive activity, language games, and market consequences. Acad. Management Rev. 29(4):670–686.Crossref, Google Scholar
• Salas V, Saurina J (2003) Deregulation, market power and risk behaviour in Spanish banks. Eur. Econom. Rev. 47(6):1061–1075.Crossref, Google Scholar
• Schijven M, Hitt MA (2012) The vicarious wisdom of crowds: Toward a behavioral perspective on investor reactions to acquisition announcements. Strategic Management J. 33(11):1247–1268.Crossref, Google Scholar
• Schnepf J, Christmann U (2022) “It’s a war! It’s a battle! It’s a fight!”: Do militaristic metaphors increase people’s threat perceptions and support for COVID-19 policies? Internat. J. Psych. 57(1):107–126.Crossref, Google Scholar
• Semino E (2008) Metaphor in Discourse (Cambridge University Press, Cambridge, UK).Google Scholar
• Semino E, Demjén Z, Demmen J (2018) An integrated approach to metaphor and framing in cognition, discourse, and practice, with an application to metaphors for cancer. Appl. Linguistics 39(5):625–645.Google Scholar
• Sengul M, Gimeno J, Dial J (2012) Strategic delegation: A review, theoretical integration, and research agenda. J. Management 38(1):375–414.Crossref, Google Scholar
• Skagerland K, Forsblad M, Slovic P, Västfjäll D (2020) The affect heuristic and risk perception—Stability across elicitation methods and individual cognitive abilities. Frontiers Psych. 11(970):1–10.Google Scholar
• Sleptsov A, Anand J, Vasudeva G (2013) Relational configurations with information intermediaries: The effect of firm‐investment bank ties on expected acquisition performance. Strategic Management J. 34(8):957–977.Crossref, Google Scholar
• Slovic P, Finucane ML, Peters E, MacGregor DG (2004) Risk as analysis and risk as feelings: Some thoughts about affect, reason, risk, and rationality. Risk Anal. 24(2):311–322.Crossref, Google Scholar
• Sobkow A, Traczyk J, Zaleskiewicz T (2016) The affective bases of risk perception: Negative feelings and stress mediate the relationship between mental imagery and risk perception. Frontiers Psych. 7:932.Google Scholar
• Solman P, Friedman T (1982) Life and Death on the Corporate Battlefield: How Companies Win, Lose, Survive (Simon & Schuster, New York).Google Scholar
• Stone PJ, Hunt EB (1963) A computer approach to content analysis: Studies using the general inquirer system. Spring Joint Comput. Conf. (AFIPS 1963), 241–256.Google Scholar
• Tirole J (1990) The Theory of Industrial Organization (MIT Press, Cambridge, MA).Google Scholar
• Uhlenbruck K, Hughes-Morgan M, Hitt MA, Ferrier WJ, Brymer R (2016) Rivals’ reactions to mergers and acquisitions. Strategic Organ. 15(1):40–66.Crossref, Google Scholar
• Vaara E, Sonenshein S, Boje D (2016) Narratives as sources of stability and change in organizations: Approaches and directions for future research. Acad. Management Ann. 10(1):495–560.Crossref, Google Scholar
• Vermeulen F, Barkema H (2002) Pace, rhythm, and scope: Process dependence in building a profitable multinational corporation. Strategic Management J. 23(7):637–653.Crossref, Google Scholar
• Waggle D, Agrrawal P (2015) Investor sentiment and short-term returns for size-adjusted value and growth portfolios. J. Behavioral Finance 16(1):81–93.Crossref, Google Scholar
• Whaley RE (2000) The investor fear gauge. J. Portfolio Management 26(3):12–17.Crossref, Google Scholar
• Whittington R, Yakis‐Douglas B, Ahn K (2016) Cheap talk? Strategy presentations as a form of chief executive officer impression management. Strategic Management J. 37(12):2413–2424.Crossref, Google Scholar
• Wicke P, Bolognesi MM (2020) Framing COVID-19: How we conceptualize and discuss the pandemic on Twitter. PLoS One 15(9):e0240010.Crossref, Google Scholar
• Woo C (1987) Path analysis of the relationship between market share, business-level conduct and risk. Strategic Management J. 8(2):149–168.Crossref, Google Scholar
• Young G, Smith KG, Grimm CM (1996) “Austrian” and industrial organization perspectives on firm-level competitive activity and performance. Organ. Sci. 7(3):243–254.Link, Google Scholar
• Yu T, Guo W, Gimeno J, Zhang Y (2022) Glue or gasoline? The role of interorganizational linkages in the occurrence and spillover of competitive wars. Acad. Management J. 65(1):304–330.Crossref, Google Scholar