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Strategic Management Policy

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Selected Works

Olivier Chatain

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Full-Text Articles in Business

Alleviating Managerial Dilemmas In Human-Capital-Intensive Firms Through Incentives: Evidence From M&A Legal Advisors, Olivier Chatain, Philipp Meyer-Doyle Dec 2016

Alleviating Managerial Dilemmas In Human-Capital-Intensive Firms Through Incentives: Evidence From M&A Legal Advisors, Olivier Chatain, Philipp Meyer-Doyle

Olivier Chatain

We examine how human-capital-intensive firms deploy their human assets and how firm-specific human capital interacts with incentives to influence this deployment. Our empirical context is the UK M&A legal market, where micro-data enable us to observe the allocation of lawyers to M&A mandates under different incentive regimes. We find that law firms actively equalize the workload among their lawyers to seek efficiency gains while ‘stretching’ lawyers with high firm-specific capital to a greater extent. However, lawyers with high firm-specific capital also appear to influence the staffing process in their favor, leading to unbalanced allocations and less sharing of projects and …

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Estimating Value Creation From Revealed Preferences: Application To Value-Based Strategy, Olivier Chatain Dec 2012

Estimating Value Creation From Revealed Preferences: Application To Value-Based Strategy, Olivier Chatain

Olivier Chatain

Value creation and value capture are fundamental concepts for understanding performance heterogeneity. Yet, in real world situations, strategy researchers are rarely able to link differences in value creation to differences in value capture and firm performance. The main hurdle is the difficulty in empirically evaluating value creation. In this paper, I advance a framework based on the logic of revealed preferences to estimate the extent of value creation in inter-firm transactions. These estimates can be directly leveraged in biform games to analyze the impact of strategic decisions on value capture. I present a detailed example of the application of this …

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