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Investor Reaction To Exploration Versus Exploitation Using An Asorptive Capacity Lens, Kevin Walsh
Investor Reaction To Exploration Versus Exploitation Using An Asorptive Capacity Lens, Kevin Walsh
Theses and Dissertations
In his seminal work, March (1991) points to innovation as a key to a firm’s survival. In this dissertation proposal, I seek to build on March’s research by leveraging his construct of balancing a focus on improving existing capabilities (“exploitation”) while simultaneously creating new competencies (“exploration”). These two approaches to innovation are often viewed as requiring a firm to leverage very different skills. Not only are there differing skills, but the level of risk and potential reward also vary based on a firm’s decision to focus on exploration versus exploitation. The reaction of investors to this dichotomy is the focus …