Working Papers

Trading Off Value Creation and Value Appropriation: The Financial Implications of Shifts in Strategic Emphasis

Natalie Mizik and Robert Jacobson

Jan 1, 2002

Develops a measure of a firm’s strategic emphasis on value appropriation versus value creation and assesses the effect that changes in this measure have on stock return; examines the extent to which this effect is moderated by firm financial situation, past strategic choices, and technological environment.

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