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��ࡱ�>�� ]_����\��������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������u �r�� bjbj�n�n22��a��a� �������""������������8�4-��nlaaaaauuu nnnnnnn$�o��r<3n�uuuuu3n��aa4hnaaau��a�a nau naaaa����p��r�������ka�m^n0�na�r[r�raa|0�r��juuauuuuu3n3n��uuu�nuuuu���������������������������������������������������������������������ruuuuuuuuu"q s: strategic management journal volume 45, issue 7, july 2024 1. title: product digitization and differentiation strategy change: evidence from the book publishing industry authors: cameron d. miller, richard d. wang abstract: we study product digitization as an impetus for firm strategy change. product digitization can erode a firm's ability to differentiate through physical product attributes and prompts them to increase emphasis on nonphysical product attributes to sustain their competitive advantage. we expect this effect is pronounced among firms that have pursued a physical differentiation strategy prior to the digital age. however, we expect that countervailing forces exist such that the internal supply cost of and the external market demand for the nonphysical differentiator mitigate this effect. evidence from publishers in the amazon kindle e-book ecosystem supports our hypotheses. this study bridges the growing digital strategy literature and the classical competitive strategy literature. we discuss how our findings are relevant to a range of industries. 2. title: hedge fund activism in family firms authors: emilie r. feldman, raphael (raffi) amit, siwen chen abstract: this article examines the antecedents and outcomes of hedge fund activism in family versus nonfamily firms. we find that activist hedge funds are less likely to initiate campaigns against family firms than nonfamily firms, but the cumulative abnormal returns to announcements of campaigns against family firms exceed those of nonfamily firms. the presence of one or more family members on a firm's board of directors appears to be a key impediment to hedge fund activism in family firms. additionally, activist hedge funds are more likely to use hostile tactics and demand more substantive changes in their campaigns against family firms than nonfamily firms. together, these findings contribute to the agency theory-based literatures on hedge fund activism, family firms, boards of directors, and corporate governance. 3. title: caveat emptor as an obstacle to business transfers: effect of product line liability exceptions on acquisitions, entry, and exit authors: natarajan balasubramanian, jagadeesh sivadasan, wenjian xu abstract: being able to sell a business not only allows a firm to exit an industry but is also a motivation for entrepreneurial entry. therefore, factors that make acquisitions less desirable for potential acquirers could not only affect the rate of acquisitions, but also entry and exit. we test this in the context of judicial adoptions of product line exceptions, which increased acquirer exposure to potential accumulated liabilities. we find that after adoption, and relative to nonmanufacturing establishments, acquisitions of manufacturing establishments decrease, while exits through closure increase. relative entry of manufacturing establishments declines. these effects are higher in industries where resalability of physical capital is lower and for smaller entrants. interestingly, while the likelihood of acquisitions declines for older establishments, it increases for younger ones. 4. title: borrowing networks for innovation: the role of attention allocation in secondhand brokerage authors: luke rhee, paul leonardi abstract: this study investigates how people connecting with brokers who span structural holes in a firm's communication networks can enhance their innovative performance. through sociometric data from a large software company, we observe that individuals who pay attention to information from brokers achieve higher innovative performance compared with those who ignore such information. the advantage of paying attention to brokers' information is more pronounced when people operate in highly constrained networks. yet, our post hoc analysis reveals that people typically allocate less attention to information from brokers than from local colleagues�they systematically do the opposite of what they should do for innovative performance. our findings regarding the role of attention for secondhand brokerage make significant contributions to studies of networks and innovation for behavioral strategy. 5. title: organizational hubris: its antecedents and consequences for stakeholder relationships authors: daniel l. gamache, michael d. pfarrer, kevin curran abstract: although research has explored how executive hubris shapes organizational actions, we theorize that hubris can also develop outside the executive suite. we introduce the construct organizational hubris, which we define as a durable, collective attitude marked by exaggerated pride and confidence in the organization. organizational hubris differs from executive hubris in terms of level (individual versus collective) and target (self-focused vs. organization-focused). we argue that organizational hubris can develop among high-identification organizations via an external route (positive external attributions) or an internal route (charismatic messaging from top leaders), or both. once developed, organizational hubris affects important outcomes by shaping (1) how external stakeholders perceive the organization, (2) how insiders treat external stakeholders, and (3) the relationship among internal stakeholders�particularly between employees and top managers. 6. title: collider bias in strategy and management research: an illustration using women ceo's effect on other women's career outcomes authors: justin frake, andreas hagemann, jose uribe abstract: collider bias can cause spurious correlations when researchers condition on a variable that is caused by�or shares a common cause with�both the outcome and the exposure variable. despite its threat to inference, empirical research in strategy and management has largely overlooked the issue of collider bias. we distinguish colliders from other threats to identification and estimation and illustrate its importance with replications of published work suggesting that having a woman ceo reduces the career outcomes (compensation and representation) of other women executives. after accounting for collider bias, we find no evidence that women ceos damage the career outcomes of other women in their organizations. we close by providing generalizable approaches to identify and mitigate 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