13期

最新文章

• Firm climate risk, risk management, and bank loan financing AI翻译
  作者：Huang, Henry He; Kerstein, Joseph; Wang, Chong; Wu, Feng (Harry)
  作者单位：Yeshiva University; Hong Kong Polytechnic University; Lingnan University
  摘要：Research Summary We estimate firm-level physical risk from climate change based on managerial evaluation and firms' exposure to climate hazard events and find that climate risk results in unfavorable corporate financing terms related to bank loans (higher interest paid, higher likelihood of being required to collateralize the loan, and greater number of covenant constraints). Firms that take measures aimed at managing climate risk, including corporate climate strategy, board-level governance, ...
• Venture capital exit pressure and venture exit: A board perspective AI翻译
  作者：Yao, Ting; O'Neill, Hugh
  作者单位：University of Wisconsin System; University of Wisconsin Milwaukee; University of North Carolina; University of North Carolina Chapel Hill
  摘要：Research Summary Venture capital funds have a limited lifecycle. As the fund ages, venture capitalists (VCs) are motivated to promote venture exit discussions with the venture board. We investigate the impact of VCs' exit pressure on the hazard of four types of venture exit (IPO, high-value M&A, low-value M&A, and liquidation), considering how VCs' exit pressure influences board collaboration. We find that while the VCs' exit pressure does not affect the hazard of IPOs, the pressure significan...
• Tradition as a resource: Robust and radical interpretations of operatic tradition in the Italian opera industry, 1989-2011 AI翻译
  作者：Cancellieri, Giulia; Cattani, Gino; Ferriani, Simone
  作者单位：Universita Ca Foscari Venezia; University of Bologna; City St Georges, University of London
  摘要：Research Summary A major challenge that organizations face in cultural industries in dealing with cherished traditions is how to best mediate between adherence to tradition and pursuit of innovation, how to accommodate renewal without stifling tradition. We address this conundrum by integrating ideas from consumer-oriented psychological research on evaluative judgments and design-oriented innovation research. We show that firms can improve customers' perceptions of value by offering robust int...
• The favela effect: Spatial inequalities and firm strategies in disadvantaged urban communities AI翻译
  作者：Pongeluppe, Leandro S.
  作者单位：University of Toronto
  摘要：Research summary E-commerce firms make fewer products available and charge higher delivery prices to customers inside Brazilian favelas than they do to customers immediately outside favelas, despite the absence of infrastructure impediments at the favela borders. This phenomenological study uses mixed methods to investigate firm heterogeneity in these practices. The analysis shows that some firms treat favela consumers more equitably than their competitors. These firms (i) invest in physical s...
• External knowledge sourcing, knowledge spillovers, and internal collaboration: The effects of intrafirm linkages on firm-university co-authorship linkages AI翻译
  作者：Polidoro, Francisco Jr Jr; Lampert, Curba Morris; Kim, Minyoung
  作者单位：University of Texas System; University of Texas Austin; State University System of Florida; Florida International University; University of Kansas
  摘要：Research Summary Existing literature shows the benefits of firm-university collaborations. Yet, it has overlooked factors that mitigate concerns with outgoing knowledge spillovers associated with this form of external knowledge sourcing. This study argues that the deterrent effects produced by intrafirm collaborations make a firm more likely to form co-authorship linkages with a university when its corresponding R&D unit exhibits a higher degree of intrafirm collaboration linkages, especially ...
• Face-to-face interactions and the returns to acquisitions: Evidence from smartphone geolocational data AI翻译
  作者：Testoni, Marco; Sakakibara, Mariko; Chen, M. Keith
  作者单位：Tilburg University; University of California System; University of California Los Angeles
  摘要：Research Summary We examine the effect of face-to-face interactions between acquirers and targets before the acquisition announcements on acquisition returns. We argue that frequent interactions increase the target management's trust in the acquirer and benefit the acquirer by mitigating competition in the bidding process. For a sample of U.S. domestic acquisitions, we use smartphone geolocational data to measure the movement of people between merging companies in the months before the announc...
• A blessing and a curse: How chief executive officer cognitive complexity influences firm performance under varying industry conditions AI翻译
  作者：Malhotra, Shavin; Harrison, Joseph S.
  作者单位：University of Waterloo; Texas Christian University
  摘要：Research Summary How CEO cognitive complexity influences firm outcomes raises an intriguing theoretical tension. While more cognitively complex CEOs can potentially bolster firm performance through their more elaborate and multifaceted information processing, those tendencies can also hurt performance because they require more time and energy, delaying decision making. We posit and show a nuanced effect of CEO cognitive complexity on firm performance, contingent on industry conditions. CEO cog...