The objective of this study is to integrate both multimarket contact and strategic similarity in the analysis of entry decisions. We also analyze the role of the reciprocity of contacts, market concentration, and coordination mechanisms at moderating the relationship. Our hypotheses are tested through the analysis of entry behavior into new geographical markets in the Spanish savings bank market. Interestingly, our results offer an opportunity of conciliating conflicting evidence in both the multimarket-mutual forbearance and the heterogeneity-rivalry literatures and offer further support to the U-inverted influence of multimarket contact on entry. Given the coordination assumption implicit in the theory and the possible presence of unobservable variables, we also offer a method to cope with the common-actor problem.

The institution-based view of strategy has emerged as a leading perspective in Strategic Management. It incorporates the institutional dimension when offering relevant answers to the fundamental questions of strategy. One of the challenges of this perspective is to develop stronger measures of institutions (Peng et al., 2009). This paper seeks to contribute in this direction by offering a detailed analysis of the main measures of institutions that previous works in Strategic Management have used. Our aim is to offer a guide that will help researchers to decide how they should incorporate the institutional dimension into their empirical work.

Our objective in this paper is to explore the impact of information technology (IT) on the performance of open innovation models. We study the effect of IT on the production of patents and product innovations. Our analysis of a large panel of Spanish manufacturing firms confirms that the effect of the proportion of external research and development (R&D) investments on the production of patents and new products has an inverted U-shape. The results also reveal that investments in IT positively moderate the consequences of open innovation on innovation performance by reducing identification, assimilation, and utilization costs. Our results provide evidence of the viability and benefit of a new strategic alternative to innovation that is different than the traditional process of vertically integrated R&D. The online appendix is available at https://doi.org/10.1287/isre.2017.0705 .

A combined epidemiologic, clinical, and electroencephalographic study of epilepsy was undertaken in Bogota by the Neurological Institute of Colombia, the Colombian Institute of Health, and the Department of Health of the City of Bogota. The prevalence of epilepsy on December 31, 1974, was 19.5 per 1,000, the highest rate for general populations reported in the literature. The prevalence was significantly higher for females than for males, 22.9 per 1,000 compared with 15.5 per 1,000.

This is the accepted version of the paper.This version of the publication may differ from the final published version.Permanent repository link: http://openaccess.city.ac.uk/15193/ Link to published version: http://dx.We advance first mover advantages literature by adding novel insights into the conditions that affect the persistence of first mover profitability and market share. We investigate the role of two industry dynamicsmarket growth and technological discontinuityand we argue that they will negatively affect the persistence of first mover performance. We test our hypotheses in the context of the European mobile communications industry by estimating System GMM models on a longitudinal panel of 65 companies in 19 markets over the period 1998-2008. Model estimations confirm that industry dynamics affect the persistence of first mover advantages. For instance, we find robust empirical evidence that technological discontinuity is detrimental to both first movers' market share and profitability.

Much of the literature dedicated to the analysis of entry timing decisions has been devoted to the study of their consequences in terms of performance. However, only a limited amount of effort has been dedicated to analyzing the factors that determine these decisions. In addition, previous papers have centered their efforts on the product dimension, paying no attention to entry into new geographical markets. This paper departs from previous works in this respect and extends the entry timing literature through a consideration of the geographical side of entry. Our analysis shows that organizational size, organizational competence, and organizational experience appear as key factors when explaining the pattern of geographic diversification. Our results also indicate that diversification takes place sequentially, first proceeding to closer locations, then occupying markets further from the origin. Copyright © 2002 John Wiley & Sons, Ltd.

Banking activities were highly regulated all around the world until the final decades of the last century. Traditionally, banks (1) were not allowed to use the competitive variables usually employed in other industries, such as prices or location. The existence of interest ceilings on credits and deposits, or the limitations to the opening of new banks or bank branches outside a reduced geographical area, substantially restricted competition within this sector. One of the possible consequences of this situation was that some banks operated branches in their local marketsöwhere they did not face limitations to the new openings öthat would not have been active in the absence of regulation. Given that price competition did not exist and that foreign (and sometimes even national) banks were not allowed to compete, those branches could have reached a reasonable level of profitability and remained in the market.As several scholars have argued, smaller banks were the main winners from regulation, given that they were protected from competition from larger and more efficient firms (Kroszner and Strahan, 1999). As the evidence from several banking markets shows, once branching restrictions were eliminated, the subsequent expansion process was led by the most efficient firms (Fuentelsaz and Go¨mez, 2001;Jayaratne and Strahan, 1997), with a reduction in the loan rates charged to creditors and an increase in the rates paid to depositors as a potential consequence. Therefore, the new competitive environment created by deregulation could be understood positively, as it would result in higher levels of competition, lower average prices, and benefits for consumers.However, this positive view of the effects of deregulation was soon complemented by a second line of research, which points to the risks associated with the elimination of restrictions. This second line of reasoning has suggested that deregulation and its associated phenomena (mergers, entry, and exit) could have had a perverse effect on the availability of banking services to specific social groups or to some geographic

In this paper we use a panel of manufacturing firms in Spain to examine the extent to which they use internal and external sources of information (customers, suppliers, competitors, consultants and universities) to generate product and process innovation. Our results show that, although internal sources are influential, external sources of information are key to achieve innovation performance. These results are in line with the open innovation literature because they show that firms that are opening up their innovation process and that use different information sources have a greater capacity to generate innovations. We also find that the importance of external sources of information varies depending on the type of innovation (product or process) considered. To generate process innovation, firms mainly rely on suppliers while, to generate product innovation, the main contribution is from customers. The potential simultaneity between product and process innovation is also taken into consideration. We find that the generation of both types of innovation is not independent.