Academy of Management Annual Meeting Proceedings includes abstracts of all papers and symposia presented at the annual conference, plus 6-page abridged versions of the “Best Papers” accepted for inclusion in the program (approximately 10%). Papers published in the Proceedings are abridged because presenting papers at their full length could preclude subsequent journal publication. Please contact the author(s) directly for the full papers. Who Benefits From Destructive Creation?: Evidence from R&D Investment after 9/11 AttackHaram SeoHaram SeoSeoul National U.Published Online:30 Nov 2017https://doi.org/10.5465/ambpp.2015.230AboutSectionsPDF/EPUB ToolsDownload CitationsAdd to favoritesTrack Citations ShareShare onFacebookTwitterLinkedInRedditEmail AbstractThis study examines the competitive dynamics after destructive shocks such as terrorist attacks. A shock such as 9/11 is conceptualized as "destructive creation," for it occurs in reversed causal order to that of creative destruction. Drawing on this essential difference between creative destruction and destructive creation, I examined the willingness and capability of incumbents and newcomers to act on entrepreneurial opportunities originating from shocks. This investigation posits that incumbents, rather than newcomers, can be the greatest beneficiary here, by reacting more aggressively to emerging opportunities. With a natural experimental design using the 9/11 attack, I examined how NY-adjacent and other counties varied in their R&D investment growth in four industrial sectors from 1998 to 2004. While the increase in R&D investment was concentrated in NY-adjacent counties, established firms responded more fiercely to opportunities than newcomers, contrary to the typical picture shown in cases of technical disruption. FiguresReferencesRelatedDetails Vol. 2015, No. 1 Permissions Metrics in the past 12 months History Published online 30 November 2017 Published in print 1 January 2015 InformationCopyright of Academy of Management Journal is the property of Academy of Management and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder’s express written permission. However, users may print, download, or email articles for individual use.Keywordscompetitive dynamicsdestructive creationdisruptive innovationDownload PDF