Exploration versus Exploitation? A Boundedly Rational Decision on Alliance Portfolio Configurations
Project/Area Number |
22K01687
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Research Category |
Grant-in-Aid for Scientific Research (C)
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Allocation Type | Multi-year Fund |
Section | 一般 |
Review Section |
Basic Section 07080:Business administration-related
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Research Institution | Waseda University |
Principal Investigator |
楊 筱恬 早稲田大学, 商学学術院, 助教 (30843940)
|
Project Period (FY) |
2022-04-01 – 2023-03-31
|
Project Status |
Discontinued (Fiscal Year 2022)
|
Budget Amount *help |
¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
Fiscal Year 2024: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2023: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2022: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
|
Keywords | bounded rationality / alliance portfolio / performance feedback / behavioral theory / CEO overconfidence / exploration / exploitation |
Outline of Research at the Start |
This study seeks to deconstruct the alliance portfolio configuration as a product of bounded rationality, revealing how a boundedly rational decision-maker configure the relative proportions of exploration and exploitation when they create an alliance portfolio.
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Outline of Annual Research Achievements |
This study investigates how firms make boundedly rational decisions in response to above-aspiration performance when configuring exploration and exploitation in an alliance portfolio. We employ behavioral heuristics to explore the role of above-aspiration performance and the influence of a CEO’s overconfidence. We also argue that the role of overconfidence is influenced by environmental factors. Three hypotheses are tested using a sample of U.S. high technology firms during 1992-2015. Results establish that above-aspiration performance motivates firms to engage in exploration rather than exploitation alliances, and a CEO’s overconfidence strengthens this relationship. The moderating effect of overconfidence decreases with environmental munificence and dynamism.
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Report
(1 results)
Research Products
(2 results)