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dc.creatorMcDonald, M. L.en
dc.creatorWestphal, J. D.en
dc.date.accessioned2015-04-16T13:57:07Zen
dc.date.available2015-04-16T13:57:07Zen
dc.date.issued2003-03en
dc.identifier.citationMichael L. McDonald and James D. Westphal. Administrative Science Quarterly Vol. 48, No.1 (Mar., 2003), pp. 1-32en
dc.identifier.issn0001-8392en
dc.identifier.urihttp://hdl.handle.net/2152/29283en
dc.description.abstractThis paper theorizes that relatively poor firm performance can prompt chief executive officers (CEOs) to seek more advice from executives of other firms who are their friends or similar to them and less advice from acquaintances or dissimilar others and suggests how and why this pattern of advice seeking could reduce firms' propensity to change corporate strategy in response to poor performance. We test our hypotheses with large-sample survey data on the identities of CEOs' advice contacts and archival data on firm performance and corporate strategy. The results confirm our hypotheses and show that executives' social network ties can influence firms' responses to economic adversity, in particular by inhibiting strategic change in response to relatively poor firm performance. Additional findings indicate that CEOs' advice seeking in response to low performance may ultimately have negative consequences for subsequent performance, suggesting how CEOs' social network ties could play an indirect role in organizational decline and downward spirals in firm performance.en
dc.language.isoEnglishen
dc.rightsAdministrative deposit of works to UT Digital Repository: This works author(s) is or was a University faculty member, student or staff member; this article is already available through open access or the publisher allows a PDF version of the article to be freely posted online. The library makes the deposit as a matter of fair use (for scholarly, educational, and research purposes), and to preserve the work and further secure public access to the works of the University.en
dc.subjectselective perceptionen
dc.subjectdeclining firmsen
dc.subjectintergroup discriminationen
dc.subjectdiversification strategyen
dc.subjectorganizational dynamicsen
dc.subjectsubjectiveen
dc.subjectuncertaintyen
dc.subjectattempting turnaroundsen
dc.subjectbelief perseveranceen
dc.subjectmoderatingen
dc.subjectroleen
dc.subjecttop managersen
dc.subjectbusinessen
dc.subjectmanagementen
dc.titleGetting By With The Advice Of Their Friends: Ceos' Advice Networks And Firms' Strategic Responses To Poor Performanceen
dc.typeArticleen
dc.description.departmentBusiness Administrationen
dc.identifier.doi10.2307/3556617en
dc.contributor.utaustinauthorMcDonald, Michael L.en
dc.contributor.utaustinauthorWestphal, James D.en
dc.relation.ispartofserialAdministrative Science Quarterlyen_US


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