Competitive dynamics research has made great strides in understanding the importance of competitive uncertainty in the competitive exchange between rival firms. Research in this area suggests a firm can improve its competitive position by influencing competitive uncertainty around its competitive actions. Less is known, however, about the implications of influencing competitive uncertainty around the firm itself or its future behaviors. I propose in this dissertation that ambiguity around a competitor influences competitive uncertainty and thus has implications for the focal firm’s competitive behaviors. More specifically, I argue that governance changes can influence competitive uncertainty. Some governance practices, and more specifically a competitor’s changes to these practices, can influence a focal firm’s competitive behavior because the ambiguous nature of these changes can affect the competitive uncertainty surrounding the competitor. I thus suggest that governance changes can have competitive consequences.