When Does a CEO’s Risk Propensity Drive Exploration in Product Development?

References

• Alderfer CP (1986) The invisible director on corporate boards. Harvard Bus. Rev. 64(6):38–50.Google Scholar
• Alexiev AS, Jansen JJP, van den Bosch FAJ, Volberda HW (2010) Top management team advice seeking and exploratory innovation: The moderating role of TMT heterogeneity. J. Management Stud. 47(7):1343–1364.Crossref, Google Scholar
• Amburgey TL, Kelly D, Barnett WP (1993) Resetting the clock: The dynamics of organizational change and failure. Admin. Sci. Quart. 38(1):51–73.Crossref, Google Scholar
• Baird IS, Thomas H (1985) Toward a contingency model of strategic risk taking. Acad. Management Rev. 10(2):230–243.Crossref, Google Scholar
• Baltagi BH (1995) Econometric Analysis of Panel Data (Wiley, Chichester, UK).Google Scholar
• Baltagi BH, Wu PX (1999) Unequally spaced panel data regressions with AR(1) disturbances. Econometric Theory 15(6):814–823.Crossref, Google Scholar
• Barker VL, Mueller GC (2002) CEO characteristics and firm R&D spending. Management Sci. 48(6):782–801.Link, Google Scholar
• Bebchuk LA, Fried JM (2006) Pay without performance: Overview of the issues. J. Appl. Corporate Finance 17(4):8–23.Crossref, Google Scholar
• Becker MC (2004) Organizational routines: A review of the literature. Indust. Corporate Change 13(4):643–677.Crossref, Google Scholar
• Benischke MH, Martin GP, Glaser L (2019) CEO equity risk bearing and strategic risk taking: The moderating effect of CEO personality. Strategic Management J. 40(1):153–177.Crossref, Google Scholar
• Benner MJ, Tushman M (2002) Process management and technological innovation: A longitudinal study of the photography and paint industries. Admin. Sci. Quart. 47(4):676–707.Crossref, Google Scholar
• Bernile G, Bhgwat V, Rau PR (2017) What doesn’t kill you will only make you more risk‐loving: Early‐life disasters and CEO behavior. J. Finance 72(1):167–206.Crossref, Google Scholar
• Berns KVD, Klarner P (2017) A review of the CEO succession literature and a future research program. Acad. Management Perspect. 31(2):83–108.Crossref, Google Scholar
• Bigley GA, Wiersema MF (2002) New CEOs and corporate strategic refocusing: How experience as heir apparent influences the use of power. Admin. Sci. Quart. 47(4):707–727.Crossref, Google Scholar
• Bluedorn AC (2002) The Human Organization of Time: Temporal Realities and Experience (Stanford University Press, Stanford, CA).Crossref, Google Scholar
• Brockhaus RH Sr (1980) Risk taking propensity of entrepreneurs. Acad. Management J. 23(3):509–520.Crossref, Google Scholar
• Bromiley P, Miller KD, Rau D (2001) Risk in strategic management research. Hitt MA, Freeman RE, Harrison JS, eds. The Blackwell Handbook of Strategic Management (Blackwell, Malden, MA), 259–288.Google Scholar
• Brown MC (1982) Administrative succession and organizational performance: The succession effect. Admin. Sci. Quart. 27(1):1–16.Crossref, Google Scholar
• Burke D, Elkind P (2008) The trouble with Steve Jobs. Fortune (March 17), 88–100.Google Scholar
• Cain MD, McKeon SN (2016) CEO personal risk-taking and corporate policies. J. Financial Quant. Anal. 51(1):139–164.Crossref, Google Scholar
• Campbell-Kelly M (2003) From Airline Reservations to Sonic the Hedgehog: A History of the Software Industry (MIT Press, Cambridge, MA).Google Scholar
• Cao Q, Gedajlovic E, Zhang H (2009) Unpacking organizational ambidexterity: Dimensions, contingencies, and synergistic effects. Organ. Sci. 20(4):781–796.Link, Google Scholar
• Cao Q, Maruping LM, Takeuchi R (2006) Disentangling the effects of CEO turnover and succession on organizational capabilities: A social network perspective. Organ. Sci. 17(5):563–576.Link, Google Scholar
• Cao Q, Simsek Z, Jansen JJP (2015) CEO social capital and entrepreneurial orientation of the firm: Bonding and bridging effects. J. Management 41(7):1957–1981.Crossref, Google Scholar
• Cao Q, Simsek Z, Zhang H (2010) Modelling the joint impact of the CEO and the TMT on organizational ambidexterity. J. Management Stud. 47(7):1272–1296.Crossref, Google Scholar
• Carpenter MA, Geletkanycz MA, Sanders WG (2004) Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. J. Management 30(6):749–778.Crossref, Google Scholar
• Certo ST, Busenbark JR, Woo HS, Semadeni M (2016) Sample selection bias and Heckman models in strategic management research. Strategic Management J. 37(13):2639–2657.Crossref, Google Scholar
• Chaganti R, Sambharya R (1987) Strategic orientation and characteristics of upper management. Strategic Management J. 8(4):393–401.Crossref, Google Scholar
• Chatterjee A, Hambrick DC (2011) Executive personality, capability cues, and risk taking: How narcissistic CEOs react to their successes and stumbles. Admin. Sci. Quart. 56(2):202–237.Crossref, Google Scholar
• Chen W-R (2008) Determinants of firms’ backward- and forward-looking R&D search behavior. Organ. Sci. 19(4):609–622.Link, Google Scholar
• Chen M-J, Su K-H, Tsai W (2007) Competitive tension: The awareness-motivation-capability perspective. Acad. Management J. 50(1):101–118.Crossref, Google Scholar
• Cho TS, Hambrick DC (2006) Attention as the mediator between top management team characteristics and strategic change: The case of airline deregulation. Organ. Sci. 17(4):453–469.Link, Google Scholar
• Cho SY, Kim SK (2017) Horizon problem and firm innovation: The influence of CEO career horizon, exploitation and exploration on breakthrough innovations. Res. Policy 46(10):1801–1809.Crossref, Google Scholar
• Cyert RM, March JG (1963) A Behavioral Theory of the Firm (Prentice Hall, Englewood Cliffs, NJ).Google Scholar
• Dai Y, Rau PR, Stouraitis A, Tan W (2020) An ill wind? Terrorist attacks and CEO compensation. J. Financial Econom. 135(2):379–398.Crossref, Google Scholar
• Danneels E, Sethi R (2011) Overcoming competence traps and temporal myopia: New product exploration under environmental turbulence. Organ. Sci. 22(4):1026–1039.Link, Google Scholar
• Das TK, Teng B-S (2001) Strategic risk behavior and its temporalities: Between risk propensity and decision context. J. Management Stud. 38(4):515–534.Crossref, Google Scholar
• De Visser M, Faems D (2015) Exploration and exploitation within firms: The impact of CEOs’ cognitive style on incremental and radical innovation performance. Creativity Innovation Management 24(3):359–372.Crossref, Google Scholar
• Dothan A, Lavie D (2016) Resource reconfiguration: Learning from performance feedback. Folta B, Helfat CE, Karim S, eds. Resource Redeployment and Corporate Strategy, Advances in Strategic Management, vol. 35 (Emerald Group, Bingley, UK), 319–369.Google Scholar
• Dougherty D, Hardy C (1996) Sustained product innovation in large, mature organizations: Overcoming innovation-to-organization problems. Acad. Management J. 39(5):1120–1153.Crossref, Google Scholar
• Duysters G, Lavie D, Sabidussi A, Stettner U (2020) What drives exploration? Convergence and divergence of exploration tendencies among alliance partners and competitors. Acad. Management J. 63(5):1425–1454.Crossref, Google Scholar
• Edison T, bin Ali N, Torkar R (2013) Toward innovation measurement in the software industry. J. Systems Software 86(5):1390–1407.Crossref, Google Scholar
• Ferrier W (2001) Navigating the competitive landscape: The drivers and consequences of competitive aggressiveness. Acad. Management J. 44(4):858–877.Crossref, Google Scholar
• Fiegenbaum A, Thomas H (1988) Attitudes toward risk and the risk–return paradox: Prospect theory explanations. Acad. Management J. 31(1):85–106.Crossref, Google Scholar
• Finkelstein S, D’Aveni RA (1994) CEO duality as a double-edged sword: How boards of directors balance entrenchment avoidance and unity of command. Acad. Management J. 37(5):1079–1108.Crossref, Google Scholar
• Finkelstein S, Hambrick DC (1990) Top-management-team tenure and organizational outcomes: The moderating role of managerial discretion. Admin. Sci. Quart. 35(3):484–503.Crossref, Google Scholar
• Finkelstein S, Hambrick DC, Cannella AA Jr (2009) Strategic Leadership: Theory and Research on Executives, Top Management Teams, and Boards (Oxford University Press, New York).Google Scholar
• Fischhoff B, Lichtenstein S, Slovic P, Derby SL, Keeney RL (1981) Acceptable Risk (Cambridge University Press, Cambridge, UK).Google Scholar
• Fleming L (2001) Recombinant uncertainty in technological search. Management Sci. 47(1):117–132.Link, Google Scholar
• Ford JD, Ford LW, D’Amelio A (2008) Resistance to change: The rest of the story. Acad. Management Rev. 33(2):362–377.Crossref, Google Scholar
• Frangos C (2018) Making leadership last: How long-tenure CEOs stand their ground. Forbes Online (December 3), https://www.forbes.com/sites/cassandrafrangos/2018/12/03/making-leadership-last-how-long-tenure-ceos-stand-their-ground/?sh=449aa633132e.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
• Gavetti G, Greve HR, Levinthal DA, Ocasio W (2012) The behavioral theory of the firm: Assessment and prospects. Acad. Management Ann. 6(1):1–40.Crossref, Google Scholar
• Gerstner WC, König A, Enders A, Hambrick DC (2013) CEO narcissism, audience engagement, and organizational adoption of technological discontinuities. Admin. Sci. Quart. 58(2):257–291.Crossref, Google Scholar
• Gibson CB, Birkinshaw J (2004) The antecedents, consequences, and mediating role of organizational ambidexterity. Acad. Management J. 47(2):209–226.Crossref, Google Scholar
• Gilbert CG (2005) Unbundling the structure of inertia: Resource vs. routine rigidity. Acad. Management J. 48(5):741–763.Crossref, Google Scholar
• Gilley KM, Walters BA, Olson BJ (2002) Top management team risk taking propensities and firm performance: Direct and moderating effects. J. Bus. Strategy 19(2):95–114.Crossref, Google Scholar
• Goodstein J, Boeker W (1991) Turbulence at the top: A new perspective on governance structure changes and strategic change. Acad. Management J. 34(2):306–330.Crossref, Google Scholar
• Greene WH (2008) Econometric Analysis, 6th ed. (Prentice Hall, Upper Saddle River, NJ).Google Scholar
• Greiner L, Bhambri A (1989) New CEO intervention and dynamics of deliberate strategic change. Strategic Management J. 10(S1):67–86.Crossref, Google Scholar
• Greve HR (2003) Organizational Learning from Performance Feedback: A Behavioral Perspective on Innovation and Change (Cambridge University Press, Cambridge, UK).Crossref, Google Scholar
• Greve HR (2007) Exploration and exploitation in product innovation. Indust. Corporate Change 16(5):945–975.Crossref, Google Scholar
• Greve HR (2008) A behavioral theory of firm growth: Sequential attention to size and performance goals. Acad. Management J. 51(3):476–494.Crossref, Google Scholar
• Greve HR, Mitsuhashi H (2007) Power and glory: Concentrated power in top management teams. Organ. Stud. 28(8):1197–1221.Crossref, Google Scholar
• Grimmer J, Stewart BM (2013) Text as data: The promise and pitfalls of automatic content analysis methods for political texts. Political Anal. 21(3):267–297.Crossref, Google Scholar
• Guadalupe M, Wulf J (2010) The flattening firm and product market competition: The effect of trade liberalization on corporate hierarchies. Amer. Econom. J. Appl. Econom. 2(4):105–127.Crossref, Google Scholar
• Gupta AK, Nadkarni S, Mariam M (2019) Dispositional sources of managerial discretion: CEO ideology, CEO personality, and firm strategies. Admin. Sci. Quart. 64(4):855–893.Crossref, Google Scholar
• Gupta AK, Smith KG, Shalley CE (2006) The interplay between exploration and exploitation. Acad. Management J. 49(4):693–706.Crossref, Google Scholar
• Hambrick DC (1981) Environment, strategy, and power within top management teams. Admin. Sci. Quart. 26(2):253–275.Crossref, Google Scholar
• Hambrick DC (1995) Fragmentation and the other problems CEOs have with their top management teams. California Management Rev. 37(3):110–126.Crossref, Google Scholar
• Hambrick DC (2007) Upper echelons theory: An update. Acad. Management Rev. 32(2):334–343.Crossref, Google Scholar
• Hambrick DC, Finkelstein S (1987) Managerial discretion: A bridge between polar views on organizations. Cummings LL, Staw BM, eds. Research in Organizational Behavior (JAI Press, Greenwich, CT), 369–406.Google Scholar
• Hambrick DC, Fukutomi GDS (1991) The seasons of a CEO’s tenure. Acad. Management Rev. 16(4):719–742.Crossref, Google Scholar
• Hambrick DC, Mason P (1984) Upper echelons: The organization as a reflection of its top managers. Acad. Management Rev. 9(2):193–206.Crossref, Google Scholar
• Hannan MT, Freeman J (1984) Structural inertia and organizational change. Amer. Sociol. Rev. 49(2):149–164.Crossref, Google Scholar
• Harter DE, Krishnan MS, Slaughter SA (2000) Effects of process maturity on quality, cycle time, and effort in software product development. Management Sci. 46(4):451–466.Link, Google Scholar
• Haynes KT, Hillman A (2010) The effect of board capital and CEO power on strategic change. Strategic Management J. 31(11):1145–1163.Crossref, Google Scholar
• Hayward MLA, Hambrick DC (1997) Explaining the premiums paid for large acquisitions: Evidence of CEO hubris. Admin. Sci. Quart. 42(1):103–127.Crossref, Google Scholar
• Heavey C, Simsek Z (2017) Distributed cognition in top management teams and organizational ambidexterity: The influence of transactive memory systems. J. Management 43(3):919–945.Crossref, Google Scholar
• Henderson AD, Miller D, Hambrick DC (2006) How quickly do CEOs become obsolete? Industry dynamism, CEO tenure, and company performance. Strategic Management J. 27(5):447–460.Crossref, Google Scholar
• Herrmann P, Nadkarni S (2014) Managing strategic change: The duality of CEO personality. Strategic Management J. 35(9):1318–1342.Crossref, Google Scholar
• Higgins ET (1998) Promotion and prevention: Regulatory focus as a motivational principle. Zanna MP, ed. Advances in Experimental Social Psychology, vol. 30 (Academic Press, New York), 1–46.Crossref, Google Scholar
• Hoskisson RE, Chirico F, Zyung J, Gambeta E (2017) Managing risk taking: A multitheoretical review and future research agenda. J. Management 43(1):137–169.Crossref, Google Scholar
• Jansen JJP, Vera S, Crossan M (2009a) Strategic leadership for exploration and exploitation: The moderating role of environmental dynamism. Leadership Quart. 20(1):5–18.Crossref, Google Scholar
• Jansen JJP, Kostopoulos KC, Mihalache OR, Papalexandris A (2016) A socio‐psychological perspective on team ambidexterity: The contingency role of supportive leadership behaviours. J. Management Stud. 53(6):939–965. Crossref, Google Scholar
• Jansen JJP, Tempelaar MP, van den Bosch FAJ, Volberda HW (2009b) Structural differentiation and ambidexterity: The mediating role of integration mechanisms. Organ. Sci. 20(4):797–811.Link, Google Scholar
• Jegadeesh N, Wu D (2013) Word power: A new approach for content analysis. J. Financial Econom. 110(3):712–729.Crossref, Google Scholar
• Joseph L (2019) It’s not just Boeing: More companies are splitting CEO and chairman roles. CNBC. Accessed January 2, 2020, https://www.cnbc.com/2019/11/05/its-not-just-boeing-more-companies-are-splitting-ceo-and-chairman-roles.html.Google Scholar
• Kammerlander N, Burger D, Fust A, Fueglistaller U (2015) Exploration and exploitation in established small and medium-sized enterprises: The effect of CEOs’ regulatory focus. J. Bus. Venturing 30(4):582–602.Crossref, Google Scholar
• Kang J, Kim SJ (2020) Performance implications of incremental transition and discontinuous jump between exploration and exploitation. Strategic Management J. 41(6):1083–1111.Crossref, Google Scholar
• Kanter RM (1977) Men and Women of the Corporation (Basic Books, New York).Google Scholar
• Karaevli A (2007) Performance consequences of new CEO “outsiderness”: Moderating effects of pre‐ and post‐succession contexts. Strategic Management J. 28(7):681–706.Crossref, Google Scholar
• Katila R, Ahuja G (2002) Something old, something new: A longitudinal study of search behavior and new product introduction. Acad. Management J. 45(6):1183–1194.Crossref, Google Scholar
• Khanagha S, Volberda H, Oshri I (2017) Customer co-creation and exploration of emerging technologies: The mediating role of managerial attention and initiatives. Long Range Planning 50(2):221–242.Crossref, Google Scholar
• Kilgore T (2016) Apple CEO Tim Cook acts like he’s insane, analyst says. Accessed March 1, 2021, https://www.marketwatch.com/story/apple-ceo-tim-cook-acts-like-hes-insane-analyst-says-2016-01-31.Google Scholar
• Kim EH, Lu Y (2011) CEO ownership, external governance, and risk-taking. J. Financial Econom. 102(2):272–292.Crossref, Google Scholar
• Kish-Gephart JJ, Campbell JT (2015) You don’t forget your roots: The influence of CEO social class background on strategic risk taking. Acad. Management J. 58(6):1614–1636.Crossref, Google Scholar
• Klarner P, Raisch S (2013) Move to the beat—Rhythms of change and firm performance. Acad. Management J. 56(1):160–184.Crossref, Google Scholar
• Klarner P, Probst G, Useem M (2020) Opening the black box: Unpacking board involvement in innovation. Strategic Organ. 18(4):487–519.Crossref, Google Scholar
• Kraatz MS, Zajac EJ (2001) How organizational resources affect strategic change and performance in turbulent environments: Theory and evidence. Organ. Sci. 12(5):632–657.Link, Google Scholar
• Kraiczy ND, Hack A, Kellermanns FW (2015) What makes a family firm innovative? CEO risk‐taking propensity and the organizational context of family firms. J. Product Innovation Management 32(3):334–348.Crossref, Google Scholar
• Krause R, Semadeni M, Cannella AAJ (2014) CEO duality: A review and research agenda. J. Management 41(1):256–286.Google Scholar
• Kreiser PM, Anderson BS, Kuratko DF, Marino LD (2020) Entrepreneurial orientation and environmental hostility: A threat rigidity perspective. Entrepreneurship Theory Practice 44(6):1174–1198.Crossref, Google Scholar
• Kumar V, Guar AS, Pattnaik C (2012) Product diversification and international expansion of business groups. Management Internat. Rev. 52(2):175–192.Google Scholar
• Landis JR, Koch GG (1977) The measurement of observer agreement for categorical data. Biometrics 33(1):159–174.Crossref, Google Scholar
• Lavie D (2007) Alliance portfolios and firm performance: A study of value creation and appropriation in the U.S. software industry. Strategic Management J. 28(12):1187–1212.Crossref, Google Scholar
• Lavie D, Rosenkopf L (2006) Balancing exploration and exploitation in alliance formation. Acad. Management J. 49(4):797–818.Crossref, Google Scholar
• Lavie D, Stettner U, Tushman ML (2010) Exploration and exploitation within and across organizations. Acad. Management Ann. 4(1):109–155.Crossref, Google Scholar
• Levinthal DA, March JG (1993) The myopia of learning. Strategic Management J. 14(S2):95–112.Crossref, Google Scholar
• Li Q, Maggitti PG, Smith KG, Tesluk PE, Katila R (2013) Top management attention to innovation: The role of search selection and intensity in new product introductions. Acad. Management J. 56(3):893–916.Crossref, Google Scholar
• Ling Y, Simsek Z, Lubatkin MH, Veiga JF (2008) Transformational leadership’s role in promoting corporate entrepreneurship: Examining the CEO-TMT interface. Acad. Management J. 51(3):557–576.Crossref, Google Scholar
• Loughran T, McDonald B (2011) When is a liability not a liability? Textual analysis, dictionaries, and 10‐Ks. J. Finance 66(1):35–65.Crossref, Google Scholar
• Luger J, Raisch S, Schimmer M (2018) Dynamic balancing of exploration and exploitation: The contingent benefits of ambidexterity. Organ. Sci. 29(3):449–470.Link, Google Scholar
• MacCrimmon K, Wehrung D (1990) Characteristics of risk taking executives. Management Sci. 36(4):422–435.Link, Google Scholar
• Macey JR (2008) Corporate Governance: Promises Kept, Promises Broken (Princeton University Press, Princeton, NJ).Crossref, Google Scholar
• Maggitti PG, Smith KG, Katila R (2013) The complex search process of invention. Res. Policy 42(1):90–100.Crossref, Google Scholar
• Makri M, Scandura TA (2010) Exploring the effects of creative CEO leadership on innovation in high-technology firms. Leadership Quart. 21(1):75–88.Crossref, Google Scholar
• March JG (1991) Exploration and exploitation in organizational learning. Organ. Sci. 2(1):71–87.Link, Google Scholar
• Miller M (2017) Is Tim Cook ruining Apple? Accessed March 1, 2021, https://www.quora.com/Is-Tim-Cook-ruining-Apple.Google Scholar
• Mintzberg H (1983) Power in and Around Organizations (Prentice-Hall, Englewood Cliffs, NJ).Google Scholar
• Mowery DC, Nelson RR (1999) Sources of Industrial Leadership: Studies of Seven Industries (Cambridge University Press, New York).Crossref, Google Scholar
• Nadkarni S, Chen J (2014) Bridging yesterday, today, and tomorrow: CEO temporal focus, environmental dynamism, and rate of new product introduction. Acad. Management J. 57(6):1810–1833.Crossref, Google Scholar
• Nelson RR, Winter SG (1982) An Evolutionary Theory of Economic Change (Belknap, Cambridge, MA).Google Scholar
• Park D-J, Berger BK (2004) The presentation of CEOs in the press, 1990–2000: Increasing salience, positive valence, and a focus on competency and personal dimensions of image. J. Public Relations Res. 16(1):93–125.Crossref, Google Scholar
• Parmigiani A, Howard-Greenville J (2011) Routines revisited: Exploring the capabilities and practice perspectives. Acad. Management Ann. 5(1):413–453.Crossref, Google Scholar
• Petriglieri G (2011) Steve Jobs wasn’t (just) a leader. Harvard Bus. Rev. October 7. https://hbr.org/2012/04/the-real-leadership-lessons-of-steve-jobs.Google Scholar
• Pfeffer J, Salancik GR (1978) The External Control of Organizations: A Resource Dependence Perspective (Harper & Row, New York). Google Scholar
• Philipson G (2005) A short history of software. R. Barrett, ed. Management, Labour Process and Software Development (Routledge, New York), 13–44.Google Scholar
• Piao M, Zajac EJ (2016) How exploration impedes and impels exploration: Theory and evidence. Strategic Management J. 37(7):1431–1447.Crossref, Google Scholar
• Porter ME (1980) Competitive Strategy: Techniques for Analyzing Industries and Competitors (Free Press, New York).Google Scholar
• Resick CJ, Whitman DS, Weingarden SM, Hiller NJ (2009) The bright-side and the dark-side of CEO personality: Examining core self-evaluations, narcissism, transformational leadership, and strategic influence. J. Appl. Psych. 94(6):1365–1381.Crossref, Google Scholar
• Roberts BW, Walton KE, Viechtbauer W (2006) Patterns of mean-level change in personality traits across the life course: A meta-analysis of longitudinal studies. Psych. Bull. 132(1):1–25.Crossref, Google Scholar
• Rosenkopf L, Nerkar A (2001) Beyond local search: Boundary-spanning, exploration, and impact in the optical disk industry. Strategic Management J. 22(4):287–306.Crossref, Google Scholar
• Rothaermel FT, Deeds DL (2004) Exploration and exploitation alliances in biotechnology: A system of new product development. Strategic Management J. 25(3):201–221.Crossref, Google Scholar
• Rowe WD (1977) An Anatomy of Risk (Wiley, New York).Google Scholar
• Sariol AM, Abebe MA (2017) The influence of CEO power on explorative and exploitative organizational innovation. J. Bus. Res. 73(C):38–45.Crossref, Google Scholar
• Schein EH (1992) The role of the CEO in the management of change: The case of information technology. TA Kochan, M Useem, eds. Transforming Organizations (Oxford University Press, Oxford, UK), 80–95.Crossref, Google Scholar
• Shen W, Cannella AAJ (2002) Revisiting the performance consequences of CEO succession: The impacts of successor type, postsuccession senior executive turnover, and departing CEO tenure. Acad. Management J. 45(4):717–733.Crossref, Google Scholar
• Sidhu JS, Commandeur HR, Volberda HW (2007) The multifaceted nature of exploration and exploitation: Value of supply, demand, and spatial search for innovation. Organ. Sci. 18(1):20–38.Link, Google Scholar
• Sidhu JS, Volberda NW, Commandeur HR (2004) Exploring exploration orientation and its determinants: Some empirical evidence. J. Management Stud. 41(6):913–932.Crossref, Google Scholar
• Siggelkow N, Rivkin JW (2006) When exploration backfires: Unintended consequences of multilevel organizational search. Acad. Management J. 49(4):779–795.Crossref, Google Scholar
• Simsek Z (2007) CEO tenure and organizational performance: An intervening model. Strategic Management J. 28(6):653–662.Crossref, Google Scholar
• Simsek Z, Heavey D, Veiga JF, Souder D (2009) A typology for aligning organizational ambidexterity’s conceptualizations, antecedents, and outcomes. J. Management Stud. 46(5):864–894.Crossref, Google Scholar
• Sirmon DG, Hitt MA, Ireland RD, Gilbert BA (2011) Resource orchestration to create competitive advantage: Breadth, depth, and life cycle effects. J. Management 37(5):1390–1412.Crossref, Google Scholar
• Sitkin SB, Weingart LR (1995) Determinants of risky decision-making behavior: A test of the mediating role of risk perceptions and propensity. Acad. Management J. 38(6):1573–1592.Crossref, Google Scholar
• Smith WK (2014) Dynamic decision making: A model of senior leaders managing strategic paradoxes. Acad. Management J. 57(6):1592–1623.Crossref, Google Scholar
• Smith WK, Tushman ML (2005) Managing strategic contradictions: A top management model for managing innovation streams. Organ. Sci. 16(5):522–536.Link, Google Scholar
• Smith KG, Grimm CM, Gannon MJ, Chen M-J (1991) Organizational information processing, competitive responses, and performance in the U.S. domestic airline industry. Acad. Management J. 34(1):1–26.Crossref, Google Scholar
• Sorensen JB, Stuart TE (2000) Aging, obsolescence, and organizational innovation. Admin. Sci. Quart. 45(1):81–112.Crossref, Google Scholar
• Srinivasan R, Haunschild P, Grewal R (2007) Vicarious learning in new product introductions in the early years of a converging market. Management Sci. 53(1):16–28.Link, Google Scholar
• Staw BM, Sandelands LE, Dutton JE (1981) Threat rigidity effects in organizational behavior: A multilevel analysis. Admin. Sci. Quart. 26(4):501–524.Crossref, Google Scholar
• Stettner U, Lavie D (2014) Ambidexterity under scrutiny: Exploration and exploitation via internal organization, alliances, and acquisitions. Strategic Management J. 35(13):1903–1929.Crossref, Google Scholar
• Szulanski G (2003) Sticky Knowledge: Barriers to Knowing in the Firm (Sage, Thousand Oaks, CA).Google Scholar
• Tuncdogan A, Van den Bosch FAJ, Volberda HW (2015) Regulatory focus as a psychological micro-foundation of leaders’ exploration and exploitation activities. Leadership Quart. 26(5):838–850.Crossref, Google Scholar
• Virany B, Tushman ML, Romanelli E (1992) Executive succession and organization outcomes in turbulent environments: An organization learning approach. Organ. Sci. 3(1):72–91.Link, Google Scholar
• Voss GB, Sirdeshmukh D, Voss ZG (2008) The effects of slack resources and environmental threat on product exploration and exploitation. Acad. Management J. 51(1):147–164.Crossref, Google Scholar
• Wangrow DB, Schepker DJ, Barker VL III (2015) Managerial discretion: An empirical review and focus on future research directions. J. Management 41(1):99–135.Crossref, Google Scholar
• Weick KE, Quinn RE (1999) Organizational change and development. Annual Rev. Sociol. 50(1):361–386.Google Scholar
• Westphal JD (1999) Collaboration in the boardroom: Behavioral and performance consequences of CEO-board social ties. Acad. Management J. 42(1):7–24.Crossref, Google Scholar
• Westphal JD, Zajac EJ (1995) Who shall govern? CEO/board power, demographic similarity, and new director selection. Admin. Sci. Quart. 40(1):60–83.Crossref, Google Scholar
• Wiersema MF, Bantel KA (1992) Top management team demography and corporate strategic change. Acad. Management J. 35(1):91–121.Crossref, Google Scholar
• Wilden R, Hohberger J, Devinney TM, Lavie D (2018) Revisiting James March (1991): Whither exploration and exploitation? Strategic Organ. 16(3):352–369.Crossref, Google Scholar
• Wu S, Levitas E, Priem RL (2005) CEO tenure and company invention under differing levels of technological dynamism. Acad. Management J. 48(5):859–873.Crossref, Google Scholar
• Yadav MS, Prabhu JC, Chandy RK (2007) Managing the future: CEO attention and innovation outcomes. J. Marketing 71(4):74–101.Crossref, Google Scholar
• Zajac EJ (1990) CEO selection, succession, compensation and firm performance: A theoretical integration and empirical analysis. Strategic Management J. 11(3):217–230.Crossref, Google Scholar
• Zajac EJ, Westphal JD (1996) Who shall succeed? How CEO/board preferences and power affect the choice of new CEOs. Acad. Management J. 39(1):64–90.Crossref, Google Scholar
• Zhang Y, Rajagopalan N (2003) Explaining new CEO origin: Firm vs. industry antecedents. Acad. Management J. 46(3):327–338.Crossref, Google Scholar