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作者：Cattani, Gino; Mastrogiorgio, Mariano; Carignani, Giuseppe
作者单位：New York University; IE University; University of Udine
摘要：Research SummaryDespite the importance of resource reallocation in shaping a variety of strategic outcomes, strategy scholars have paid only limited attention to the processes by which firms reallocate their resources across successive systemic innovations. To explore these processes, we conducted an in-depth historical case study on Rolls-Royce's role in three distinct systemic innovations that marked the transition from piston engines to jet engines in the civil aviation industry: the turboj...
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作者：Lee, Juyoung; Bansal, Pratima
作者单位：Hong Kong Polytechnic University; Western University (University of Western Ontario)
摘要：Research SummaryMany corporate groups have multiple layers with parent companies owning subsidiaries, which own other subsidiaries, and so forth, in a pyramid-like ownership structure. We argue that corporate groups perform their pollution-intensive activities at the lower levels of the corporate hierarchy to buffer the parent from pollution-related regulatory risks. Our analysis of 7400 US-based business establishments owned by the 67 largest US-headquartered chemical manufacturing corporate ...
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作者：Miller, Cameron D.; Wang, Richard D.
作者单位：Syracuse University; Babson College
摘要：Research SummaryWe study product digitization as an impetus for firm strategy change. Product digitization can erode a firm's ability to differentiate through physical product attributes and prompts them to increase emphasis on nonphysical product attributes to sustain their competitive advantage. We expect this effect is pronounced among firms that have pursued a physical differentiation strategy prior to the digital age. However, we expect that countervailing forces exist such that the inter...
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作者：Adbi, Arzi; Lee, Matthew; Singh, Jasjit
作者单位：National University of Singapore; Harvard University; INSEAD Business School
摘要：Research Summary: The microfinance group lending approach has achieved widespread success in promoting high rates of repayment, and thus the viability of financial access, in very low-income environments. Yet group lending, which relies on social connections between borrowers to reinforce repayment, may be vulnerable under crisis conditions in which defaults are commonplace. We explore this possibility in the context of the liquidity crisis that followed India's 2016 demonetization policy. Usi...
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作者：Zhang, Jiamin; Gu, Qian Cecilia
作者单位：Peking University; University System of Georgia; Georgia State University
摘要：Research SummaryGovernment involvement plays a significant role in fostering entrepreneurship. We examine how government involvement in venture capital (VC) investments shapes the decoupling between risk-taking and investment returns. We distinguish government involvement through state ownership (GVC) and personal political connections (connected VC). We theorize that government involvement through GVC is associated with the downside risk-return paradox, that is, concurrent higher risk-taking ...
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作者：Imperatore, Claudia; Pope, Peter F.
作者单位：Bocconi University; University of London; London School Economics & Political Science
摘要：Research SummaryInvestment growth in family firms is constrained by family preferences to retain corporate control, which limits outside equity issuance and increases the expropriation risk perceived by external minority shareholders. Tenure-based voting rights (TVRs) weaken the link between voting rights and cash flow rights, facilitating new equity capital issuance without loss of control. We find that publicly listed family firms in Italy adopt TVRs to facilitate the continuation of investm...
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作者：Chen, Ruyu; Balasubramanian, Natarajan; Forman, Chris
作者单位：Stanford University; Syracuse University; Cornell University
摘要：Research SummaryWe investigate how worker mobility influences the adoption of a new technology using state-level changes to the enforceability of noncompete agreements as an exogenous shock to worker mobility. Using data on over 153,000 establishments from 2010 and 2018, we find that changes that facilitate worker movements are associated with a significant decline in the likelihood of adoption of machine learning. Moreover, we find that the magnitude of decline depends upon the size of the es...
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作者：Kim, Hyunjin; Glaeser, Edward L.; Hillis, Andrew; Kominers, Scott Duke; Luca, Michael
作者单位：INSEAD Business School; Harvard University; Harvard University; Harvard University
摘要：Research SummaryWe evaluate a pilot in an Inspections Department to explore the returns to a pair of algorithms that varied in their sophistication. We find that both algorithms provided substantial prediction gains, suggesting that even simple data may be helpful. However, these gains did not result in improved decisions. Inspectors often used their decision authority to override algorithmic recommendations, partly to consider other organizational objectives without improving outcomes. Interv...
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作者：Gill, Michael J.; Gill, David J.
作者单位：University of Oxford; University of Nottingham; University of Oxford
摘要：Research SummaryLittle is known about how governments secure discrete resources from global corporations over which they have limited direct control. Utilizing declassified archival sources, we examine how the UK government influenced Moody's and Standard & Poor's to provide the highest possible credit ratings in 1978, despite the UK receiving an International Monetary Fund bailout 2 years earlier. We develop a process model to explain how democratic government officials employ distinctive pro...
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作者：Jung, Wooseok; Sharkey, Amanda
作者单位：Hautes Etudes Commerciales (HEC) Paris; University of Notre Dame
摘要：Research SummaryGaining categorical status via a ranking places firms in a new comparison group and makes their behaviors more visible, potentially exposing them to greater scrutiny. How do marginally included firms respond? In this article, we propose that firms will take action in the area of CSR in order to secure their standing, deflect potential criticism, and reduce the anxiety that arises, paradoxically, from being included in a ranking. Using a regression discontinuity design involving...
