Is public ownership bad for professional service firms? Ad agency ownership, performance, and creativity

• 成果类型: Article
• 署名作者: Von Nordenflycht, Andrew
• 署名单位: Simon Fraser University
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• 发表日期: 2007
• 页码: 429-445
• 关键词: EMPIRICAL-ANALYSIS; COSTS; industry; partnerships; management; companies; strategy; scale

摘要

Does public ownership create negative consequences for professional service firms by reducing employee incentives? This question was addressed with a panel of advertising agencies. Public ownership was associated with inferior performance for small agencies but not for large agencies, and there was no association between ownership and agency creativity, indicating that public ownership did not preclude agencies from competing with strategies requiring highly skilled professionals. The results challenge existing theories about the ownership of professional service firms.