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Catching the Wave: Alertness, Responsiveness, and Market Influence in Global Electronic Networks

Author

Listed:
  • Akbar Zaheer

    (Curtis L. Carlson School of Management, University of Minnesota, Minneapolis, Minnesota 55455)

  • Srilata Zaheer

    (Curtis L. Carlson School of Management, University of Minnesota, Minneapolis, Minnesota 55455)

Abstract

This paper introduces the concepts of alertness and responsiveness as key capabilities for firms in fast-moving, information-intensive environments such as global currency trading. Hypotheses drawn from the resource-based view of the firm, from network theory, and from Austrian economics are tested on objective cross-section and time-series data for the population of 4,088 banks engaged in foreign-exchange trading on the Reuters dealing system. Results strongly support the hypotheses that banks that are alert, i.e., use their information networks in ways that expand the range of information they are exposed to, and responsive---those that act quickly in volatile markets---tend to exercise greater market influence in this industry.

Suggested Citation

  • Akbar Zaheer & Srilata Zaheer, 1997. "Catching the Wave: Alertness, Responsiveness, and Market Influence in Global Electronic Networks," Management Science, INFORMS, vol. 43(11), pages 1493-1509, November.
  • Handle: RePEc:inm:ormnsc:v:43:y:1997:i:11:p:1493-1509
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    File URL: http://dx.doi.org/10.1287/mnsc.43.11.1493
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    Cited by:

    1. Chollet, Barthélemy & Géraudel, Mickaël & Khedhaouria, Anis & Mothe, Caroline, 2016. "Market knowledge as a function of CEOs' personality: A fuzzy set approach," Journal of Business Research, Elsevier, vol. 69(7), pages 2567-2573.
    2. Stam, Wouter & Arzlanian, Souren & Elfring, Tom, 2014. "Social capital of entrepreneurs and small firm performance: A meta-analysis of contextual and methodological moderators," Journal of Business Venturing, Elsevier, vol. 29(1), pages 152-173.
    3. Bruno Versaevel, 2015. "Alertness, Leadership, and Nascent Market Dynamics," Dynamic Games and Applications, Springer, vol. 5(4), pages 440-466, December.
    4. Walter, Jorge & Lechner, Christoph & Kellermanns, Franz W., 2007. "Knowledge transfer between and within alliance partners: Private versus collective benefits of social capital," Journal of Business Research, Elsevier, vol. 60(7), pages 698-710, July.
    5. Kim, Chang-Su & Inkpen, Andrew C., 2005. "Cross-border R&D alliances, absorptive capacity and technology learning," Journal of International Management, Elsevier, vol. 11(3), pages 313-329, September.
    6. Larry J. Menor & Aleda V. Roth & Charlotte H. Mason, 2001. "Agility in Retail Banking: A Numerical Taxonomy of Strategic Service Groups," Manufacturing & Service Operations Management, INFORMS, vol. 3(4), pages 273-292, February.
    7. Leischnig, Alexander & Geigenmueller, Anja & Lohmann, Stefanie, 2014. "On the role of alliance management capability, organizational compatibility, and interaction quality in interorganizational technology transfer," Journal of Business Research, Elsevier, vol. 67(6), pages 1049-1057.
    8. Simsek, Zeki & Lubatkin, Michael H. & Veiga, John F. & Dino, Richard N., 2009. "The role of an entrepreneurially alert information system in promoting corporate entrepreneurship," Journal of Business Research, Elsevier, vol. 62(8), pages 810-817, August.
    9. S. De Prijcker & S. Manigart & M. Wright & W. De Maeseneire, 2009. "The influence of international human capital and international network relationships on the cross-border investment behaviour of private equity firms," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 09/597, Ghent University, Faculty of Economics and Business Administration.
    10. Becker, Markus C. & Knudsen, Thorbjorn, 2005. "The role of routines in reducing pervasive uncertainty," Journal of Business Research, Elsevier, vol. 58(6), pages 746-757, June.
    11. Lilach Nachum & Srilata Zaheer & Shulamith Gross, 2008. "Does It Matter Where Countries Are? Proximity to Knowledge, Markets and Resources, and MNE Location Choices," Management Science, INFORMS, vol. 54(7), pages 1252-1265, July.
    12. Ko, Stephen & Butler, John E., 2007. "Creativity: A key link to entrepreneurial behavior," Business Horizons, Elsevier, vol. 50(5), pages 365-372.
    13. repec:eee:touman:v:61:y:2017:i:c:p:451-464 is not listed on IDEAS
    14. Rajiv D. Banker & Robert J. Kauffman, 2004. "50th Anniversary Article: The Evolution of Research on Information Systems: A Fiftieth-Year Survey of the Literature in Management Science," Management Science, INFORMS, vol. 50(3), pages 281-298, March.
    15. Ma, Xufei & Yao, Xiaotao & Xi, Youmin, 2009. "How do interorganizational and interpersonal networks affect a firm's strategic adaptive capability in a transition economy?," Journal of Business Research, Elsevier, vol. 62(11), pages 1087-1095, November.
    16. repec:eee:iburev:v:26:y:2017:i:6:p:1157-1167 is not listed on IDEAS
    17. repec:spr:grdene:v:18:y:2009:i:5:d:10.1007_s10726-008-9138-6 is not listed on IDEAS
    18. Bonner, Joseph M. & Kim, Daekwan & Cavusgil, S. Tamer, 2005. "Self-perceived strategic network identity and its effects on market performance in alliance relationships," Journal of Business Research, Elsevier, vol. 58(10), pages 1371-1380, October.
    19. Roberts, Nicholas & Grover, Varun, 2012. "Investigating firm's customer agility and firm performance: The importance of aligning sense and respond capabilities," Journal of Business Research, Elsevier, vol. 65(5), pages 579-585.
    20. Nambisan, Satish, 2013. "Industry technical committees, technological distance, and innovation performance," Research Policy, Elsevier, vol. 42(4), pages 928-940.
    21. Garcia-Pont, Carlos, 2006. "Alliances and industry analysis," IESE Research Papers D/649, IESE Business School.

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