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| Author: | Chen, S.-S. (et al.) |
| Title: | How does strategic competition affect firm values? A study of new product announcements |
| Journal: | Financial Management
2002 : SUMMER, VOL. 31:2, p. 67-84 |
| Index terms: | Strategic planning Competition New products Advertising |
| Language: | eng |
| Abstract: | The authors examine the role of strategic interaction in explaining the valuation effect of new product announcements and employ Sundaram, John and John's (1996) competitive strategy measure to operationalize the nautre of a firm's competitive interaction. Using a sample of new product introductionsbetween 1991 and 1995, they find that the market values introductions announced by firms in strategic subsitutes competition more favorably than those announced by firms in strategic complements competition. |
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