Abstract
The economy recently experienced one of the most significant crises in its history: the recent Great Recession. Despite its importance, however, management research into the impact of this event is at best limited. In what we believe to be a first of its kind study, we begin to address this important gap by empirically testing data from the historic recession of 2009. We argue that environmental crises, such as the recent recession, have a differential impact on firms based upon the generic strategy they pursue, and that as a result, firms will modify their generic strategic position in predictable ways. We tested our theory with a dataset we downloaded from Compustat and found strong support for it.
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