While a firm’s ability to jointly pursue both an exploitative and exploratory orientation has been posited as having positive performance effects, little is currently known about the antecedents and consequences of such ambidexterity in small-to medium-sized firms (SMEs). To that end, this study focuses on the pivotal role of top management team (TMT) behavioral integration in facilitating the processing of disparate demands essential to attaining ambidexterity in SMEs. Then, to address the bottom-line importance of an ambidextrous orientation, the study hypothesizes its association with relative firm performance. Multisource survey data, including CEOs and TMT members from 139 SMEs, provide support for both hypotheses.

Alzheimer's disease (AD) is characterized by deposition of amyloid-β (Aβ) plaques and neurofibrillary tangles in the brain, accompanied by synaptic dysfunction and neurodegeneration. Antibody-based immunotherapy against Aβ to trigger its clearance or mitigate its neurotoxicity has so far been unsuccessful. Here we report the generation of aducanumab, a human monoclonal antibody that selectively targets aggregated Aβ. In a transgenic mouse model of AD, aducanumab is shown to enter the brain, bind parenchymal Aβ, and reduce soluble and insoluble Aβ in a dose-dependent manner. In patients with prodromal or mild AD, one year of monthly intravenous infusions of aducanumab reduces brain Aβ in a dose- and time-dependent manner. This is accompanied by a slowing of clinical decline measured by Clinical Dementia Rating-Sum of Boxes and Mini Mental State Examination scores. The main safety and tolerability findings are amyloid-related imaging abnormalities. These results justify further development of aducanumab for the treatment of AD. Should the slowing of clinical decline be confirmed in ongoing phase 3 clinical trials, it would provide compelling support for the amyloid hypothesis.

SummaryWe draw on the economic, corporate governance, and family business literatures to explain why the effects of family on family firms makes this governance form theoretically distinct from those of public and private non-family firms. Our thesis is that parental altruism, when combined with private ownership and owner-management, influences the ability of the firm's owner-manager to exercise self-control, which, in turn, can expose some family firms to conflicts rooted in the agency threats of moral hazard, hold-up, and adverse selection. We then discuss why some other family firms are able to minimize these dark side threats and thereby attain altruism's brighter side. Finally, we discuss how altruism's influence changes over time as ownership becomes dispersed among family members and across generations.

Research about transformational CEOs' impact on firm-level outcomes, particularly corporate entrepreneurship, has been equivocal, partially because the underlying mechanisms remain largely unexplored. Given that the individuals most closely influenced by a firm's CEO are its top management team (TMT) members, we focus on the CEO-TMT interface as a salient intervening mechanism. We posit that transformational CEOs influence TMTs' behavioral integration, risk propensity, decentralization of responsibilities, and long-term compensation and that these TMT characteristics impact corporate entrepreneurship. Data from 152 firms supported most of our hypothesized links, underscoring how the CEO-TMT interface helps explain transformational CEOs' role in promoting corporate entrepreneurship.