000			nam a22 7a 4500
999			_c48340 _d48340
003			OSt
005			20170925163511.0
008			170925b xxu||||| |||| 00| 0 eng d
100			_aHan, Kyuhong _927581
245			_aRelative Strategic Emphasis and Firm-Idiosyncratic Risk: The Moderating Role of Relative Performance and Demand Instability.
300			_a25-44. p.
520			_aFirms may allocate scarce resources to two fundamental strategic processes: value creation and value appropriation. The relative investment in these processes (i.e., a firm’s relative strategic emphasis) may be associated with firmidiosyncratic risk. Empirically, a firm’s relative strategic emphasis is represented by the difference between its advertising expenditure and its research-and-development expenditure. Using data from 2,403 firms over the period of 2000–2014, the authors find that firms’ relative strategic emphasis on value appropriation versus value creation reduces firm risk, though in a contingent manner. This association is weaker when firms have larger positive or negative relative performance. Furthermore, these contingent associations are stronger when demand instability in an industry is higher. Overall, the results demonstrate that a firm’s strategic emphasis should be examined in light of its relative performance, as well as in the context of current market conditions, when making judicious resource allocation decisions.
653			_aFirm-idiosyncratic risk,
653			_aRelative strategic emphasis
653			_aRelative performance
653			_aDemand instability,
653			_aFinancial metrics
700			_aMittal, V. _927582
700			_aZhang, Yan _927583
773	0		_029537 _966634 _aFRAZIER GARY L. _o5557628 _tJOURNAL OF MARKETING _x0022-2429
856			_3Volume 81, Number 4, July 2017​​ _uhttp://web.b.ebscohost.com/ehost/detail/detail?vid=0&sid=00f8e70d-93d1-4e17-98d2-0c0dfb2035ae%40sessionmgr103&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=bsh&AN=125210179
942			_2ddc _cJA-ARTICLE