Large, established firms acquiring small, technology-based firms must manage them so as to both exploit their capabilities and technologies in a coordinated way and foster their exploration capacity by preserving their autonomy. We suggest that acquirers can resolve this coordination-autonomy dilemma by recognizing that the effect of structural form on innovation outcomes depends on the develop...

Fundamentally, poverty reduction is about bringing growth processes to poor areas. Because poor areas can benefit from technical and organizational innovations made elsewhere in the world, it is possible today to create productive jobs faster and in greater quantity than ever before. The puzzle is what helps spread such “best practices.” Saving, investment, education, resources, and new technol...

Markets developed rapidly in China during the reform era, opening many new opportunities for business, increasing competition, and heightening uncertainty. But because the political system remained autocratic, state officials retained considerable power over the economy through their control over resources such as land and capital. Moreover, decentralization gave local officials substantial aut...