This paper demonstrates how meta-analysis can be combined with structural equation modeling (MASEM) to address new questions in strategic management research. We review this integration, describe its implementation, and compare findings from bivariate meta-analyses, a direct-effect structural equations model, and two mediating frameworks using data on the strategic leadership and performance relationship. Results drawn from 208 articles that collectively included data on 495,638 observations demonstrate the new insights available from MASEM while also suggesting a revision to conventional thinking on strategic leadership. Whereas some theories posit that boards of directors influence firm performance through monitoring and disciplining the top management team, MASEM provides more support for the view that boards mediate the top management teams' decisions. Implications for applying MASEM in strategic management are offered.As the strategic management field matures, scholars are increasingly using meta-analysis to synthesize prior work on many topics, including the perfor-

Mobile payment becomes a convenient way to complete transactions due to the increasing popularity of mobile devices and the maturity of related technologies. Users' experience of using computers and the Internet in financial activities largely affects their intention to use mobile payment. Combining the Technology Acceptance Model and Innovation Diffusion Theory, we examined the mediating effect of five factors, i.e., perceived usefulness, perceived ease of use, compatibility, risk, and privacy concern, in the relationship between Internet experience and the adoption of mobile payment. Data from 922 mobile users supported the partial mediating effects of the five factors.

In this special issue, we have collected 13 articles that offer new vantage points for research on dynamic capabilities. We offer a selection of thought-provoking papers that advance current thinking on dynamic capabilities and provide directions for new inquiries using the dynamic capability framework. The microfoundations of dynamic capabilities have increasingly received interest. This special issue offers a range of conceptual methodological approaches to deepen our understanding of the issues surrounding the microfoundations of dynamic capabilities.

This study examines the evolution of exploration and exploitation within intra-organisational domains, specifically, the technological and market knowledge domains in high-technology firms. It simultaneously tests the interaction between exploration and exploitation across domains. Furthermore, this paper examines the impact of firm-level failure experience on exploration and exploitation within each domain. Based on longitudinal analysis of crossnational panel data on drug development initiatives obtained from 191 biopharmaceutical firms from 1990 to 2008, we find a negative relationship between firms' innovation experience and exploration orientation within domains. Technological exploration and market exploration are competing with each other. We further find that failure experience stimulates technological search but not market search. This work contributes to the exploration and exploitation literature by extending domain separation to the internal context of an organisation theoretically and empirically. It further contributes by using performance feedback theory to explore the impact of failure on exploration and exploitation.

We explore the interaction of open innovation and intellectual property (IP) in two Chinese latecomer pharmaceutical firms in their catch-up process. Studying archival data, documentation, and interviews, we found that the two firms exhibited five periods that were characterised by different open innovation activities and R&D capabilities. In their early stages, the two firms lacked R&D functions; thus, they imported technologies and pursued productionoriented strategies. As they gradually entered into collaborations and established their R&D departments, open innovation and IP protection played important and dynamic roles in this process. Thus, a catch-up process involves not only acquiring technological capabilities and innovative competencies but also transforming a firm's capacity to strategies.