Strategic Moves and Organizational Survival in Turbulent Environments
Опубликовано на портале: 25-12-2002
The main purpose of this paper is to examine the effect of strategic moves on the likelihood of organizational survival in a population of firms which has undergone continuous and radical transformations in its environment. To this end, the authors propose and test two competitive hypotheses which are the result of two other theoretical perspectives about the consequences of strategic change: the adaptation view (classic strategic management and dynamic capabilities) and the ecological approach. While from the former strategic change has a positive effect on the likelihood of organizational survival, from the ecological approach, strategic change implies an increase in the likelihood of organizational extinction. The sample used to test the two proposed hypotheses is the Spanish private banks population over the period 1983-1997. The results confirm the negative effect of strategic change on the likelihood of organizational extinction, in line with the conclusions of the adaptive perspective and other research carried out in different settings. This paper introduces two important methodological innovations: (a) the definition and measurement of strategic change by using a new cluster algorithm, MCLUST; and (b) the control of the non-observable heterogeneity using panel data models for logit regression.
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