Strategy

We present a dynamic two-country model in which military spending, geopolitical dominance, and government bond prices are jointly determined. The model reflects three facts: hegemons enjoy a funding advantage, this advantage rises with geopolitical tensions, and war losers devalue their debts more. In the model, greater bond revenue enables military investment, in turn increasing the safety value of bonds to international investors. Debt capacity strengthens the hegemon’s military and financial advantage but introduces steady-state multiplicity and fragility.

Deep Reinforcement Learning (DRL) provides a general-purpose methodology for training inventory policies that can leverage big data and compute. However, off-the-shelf implementations of DRL have seen mixed success, often plagued by high sensitivity to the hyperparameters used during training. In this paper, we show that by imposing policy regularizations, grounded in classical inventory concepts such as "Base Stock", we can significantly accelerate hyperparameter tuning and improve the final performance of several DRL methods.

Entrepreneurs form strategy under high uncertainty, often relying on either reasoning-oriented approaches that prioritize analysis ahead of decisions or action-oriented approaches that emphasize learning through execution. Yet when and why entrepreneurs lean toward one approach over the other remains under-examined. This study theorizes that entrepreneurs' perceived cost of mistakes shapes this choice.

Ending reliance on oil, coal, and gas, and embracing technologies that will only improve and become cheaper over time, is not just smart climate policy. It is the best way to improve economic competitiveness and human prosperity for decades to come.

This editorial examines the empirical foundations of Chinese management research through an analysis of data sources and research designs in all empirical papers published in Management and Organization Review (MOR) over the past five years. Our review shows that 53.2% of studies rely on archival or secondary data, with 37% of quantitative studies focusing on publicly listed firms. While established datasets provide consistency and comparability, their prevalence may limit opportunities to explore China’s diverse organizational ecosystem.

We examine how generative AI adoption affects the venture performance of high-tech software startups. Using a matched sample, we find that startups using generative AI for product development raise 15% less funding, especially in competitive markets with many similar AI adopters. However, startups targeting broad markets raise 30% more funding when adopting generative AI early-within six months of its release-before a dominant design emerges. These findings suggest that while early AI adoption can be beneficial, widespread use may erode differentiation.

The global rise of nationalism has distorted the neoliberal vision of a borderless world where the nationality of businesses would be rendered obsolete. While nationalism can promote solidarity and progress, it also has the potential to deepen social divisions and fuel conflict-realities that organizations cannot ignore. In this paper, we propose a theory of organizational nationalism, which positions organizations not merely as passive responders to nationalist institutional pressures or geopolitical risks but as active agents in shaping nationalistic beliefs, values, and policies.

Danone’s story of looking for a larger purpose beyond short-term profits seemed to come to an ignominious end in 2021. The then-chief executive Emmanuel Faber was removed by the board of directors following pressure from activist investors who claimed that prioritising environmental, social and governance issues hurt the company’s financial returns.