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ANTECEDENTS OF CONSISTENCY BETWEEN RESOURCE ALLOCATION DECISIONS AND CORPORATE STRATEGY CONCEPT

This paper investigates the antecedents of consistency between corporate strategy concept and individual resource allocation decisions in the Swiss pharmaceutical companies Ciba and Sandoz from 1989 through their merger to form Novartis in 1996. We present a model from which we derive hypotheses regarding the influence of organizational and decision-specific factors on consistency. We test these hypotheses using data on 493 resource allocation decisions, applying maximum likelihood ordered logit estimation. Results indicate that factors specific to individual resource allocation decisions are far more important for their consistency with the prevailing corporate strategy concept than organizational factors. In particular, the longer the time lag between the announcement of a corporate strategy concept and individual resource allocation decisions, the lower the likelihood of high consistency levels. As to the role of organizational factors, lower decision-making levels tend to be associated with higher consistency levels.