The book is motivated by the lack of a core strategic theory of what firms do and their performance in the market and aims at developing a reasonably comprehensive theory of the firm for strategic management. In this regard, the book provides answers to the four major questions that a theory of the firm for strategy should address: what is a firm, why does it exist, what determines its size and...

Blockchain and other distributed ledger technologies have enormous potential for creating business value but not yet been widely adopted. Enterprise blockchain systems are recognized as solutions to existing operational problems or ‘pain points’ their delivering through strategic opportunities is well understood. Drawing from literature on alliances the resource-based view of firm, we identify ...

This paper seeks to provide an explanation for why corporate officers manage the disclosure of accounting information. We show that earnings management affects firm value when value-maximizing managers and investors are asymmetrically informed. In equilibrium, the strategic management of reported earnings influences investors' assessments of the market values of companies' shares.

Green and Laffont [1] have proven that no collusion-resilient dominant-strategy mechanism guarantees efficiency in multi-unit auctions if a player is allowed to report only a single valuation. Chen and Micali [2] have bypassed this impossibility by slightly enlarging the strategy spaces, but via mechanisms that can impose impractically high fines. For unrestricted combinatorial auctions, the po...