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作者：Gupta, Abhinav; Fung, Anna; Murphy, Chad
作者单位：University of Washington; University of Washington Seattle; American University; Oregon State University
摘要：Research Summary We consider the link between firms' decisions to adopt a CSR executive position and the political ideology of prior adopter CEOs. We theorize that firms are more likely to adopt a CSR executive position when it has been previously adopted by conservative-leaning CEOs at other firms, as opposed to liberal-leaning CEOs. This effect is due, we argue, to the increased perceptual salience and situational attributions associated with ideologically incongruent actions (i.e., actions ...
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作者：Goldfarb, Brent; Yan, Liyue
作者单位：University System of Maryland; University of Maryland College Park
摘要：Research Summary We revisit Zuckerman's (1999) The Categorical Imperative: Securities Analysts and the Illegitimacy Discount, which theorizes that when organizations are recognized as legitimate players in a category, they perform better. A replication exercise fails to reproduce two of three sets of results. Assisted by data shared by the original author, we find evidence that the inconsistency is due to a coding error in the original and differences between analyst data sets. We illustrate t...
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作者：Chondrakis, George; Serrano, Carlos J.; Ziedonis, Rosemarie H.
作者单位：Universitat Ramon Llull; Escuela Superior de Administracion y Direccion de Empresas (ESADE); Pompeu Fabra University; Pompeu Fabra University; Barcelona School of Economics; Boston University; National Bureau of Economic Research
摘要：Research Summary The market for acquiring technology companies is rife with information frictions. Although such frictions can stifle trading activity, they also provide room for strategic gain. We investigate this dual role of information frictions by exploiting an institutional reform that releases technological information to the public domain. Leveraging cross-sectoral variation in the magnitude of disclosure, we find an increase in acquisition activity and in the technological distance be...
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作者：Chen, Guoli; Huang, Sterling; Meyer-Doyle, Philipp; Mindruta, Denisa
作者单位：INSEAD Business School; Singapore Management University; Hautes Etudes Commerciales (HEC) Paris
摘要：Research Summary To address endogeneity concerns stemming from firm-CEO matching, we deploy a two-sided matching model that identifies the complementarities arising from the CEO-firm match and subsequently account for these complementarities in empirical tests. Applying this approach, we examine how the nature of CEOs' human capital affects the acquisition behavior and performance of firms. We find that generalist CEOs (CEOs with a broader set of knowledge and skills) are more likely to engage...
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作者：Eesley, Charles E.; Lee, Yong Suk
作者单位：Stanford University; Stanford University
摘要：Research summary We examine how university entrepreneurship programs affect entrepreneurial activity using a unique entrepreneurship-focused survey of Stanford alumni. OLS regressions find a positive relationship between program participation and entrepreneurship activities. However, endogeneity hinders causal interpretation. We utilize the fact that the entrepreneurship programs were implemented at the school level. Using the introduction of each school's program as an instrument for program ...
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作者：Stern, Ithai; Deng, Xin; Chen, Guoli; Gao, Huasheng
作者单位：INSEAD Business School; Nanyang Technological University; INSEAD Business School; Fudan University
摘要：Research Summary Prior literature on the relationship between the departure of strategic human capital (SHC) and firm performance is equivocal. One source of this ambiguity is the potential endogeneity: Is it the SHC departure that leads to poor firm performance, or is it poor firm performance leading to the SHC departure? We respond to repeated calls to address this issue by using the Fukushima nuclear accident in Japan as an exogenous event which triggered a butterfly effect that influenced ...
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作者：Feldman, Emilie R.
作者单位：University of Pennsylvania
摘要：Research Summary This paper investigates the corporate parenting advantage, the extent to which corporate parents improve the performance of their subsidiaries. Despite the importance of this concept for corporate strategy, researchers have yet to quantify it empirically. I measure the corporate parenting advantage by comparing the performance of utilities that were legally classified into one of two types of holding companies: regulated holding companies, which faced limits on their ability t...
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作者：Chen, Guoli; Meyer-Doyle, Philipp; Shi, Wei
作者单位：INSEAD Business School; University of Miami
摘要：Research summary: Prior research suggests that hedge fund activism can benefit targeted firms. We explore a potential negative side-effect of hedge fund activism: the unwanted loss of human capital in targeted firms. We find that firms targeted by hedge fund activists experience a greater departure of valuable employees compared with a matched sample of non-targeted firms. Further, the positive effect of hedge fund activism on firm performance is stronger when firms experience a lower departur...
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作者：Kang, Yungu; Zhu, David H.; Zhang, Yan Anthea
作者单位：Arizona State University; Arizona State University-Tempe; Rice University
摘要：Research summary We build upon recent theories and studies about relational self to explain how a CEO's uncommon name may be related to a firm's strategic distinctiveness. Our theory explains why CEOs with uncommon names tend to develop a conception of being different from peers and accordingly pursue strategies that deviate from industry norms. We further suggest that the positive relationship between CEO name uncommonness and strategic distinctiveness is strengthened by the CEO's confidence,...
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作者：Taeuscher, Karl; Rothe, Hannes
作者单位：University of Manchester; Alliance Manchester Business School; Free University of Berlin
摘要：Research summary Optimal distinctiveness theory highlights that firms need to balance opposing pressures for differentiation (to gain competitive benefits) and conformity (to gain legitimacy). Yet, extant optimal distinctiveness research rarely considers that the pressure for conformity can substantially vary between competing firms. Studying the positioning and growth performance of competing platforms in the market for Massive Open Online Courses (MOOCs), we find that platforms' access to hi...
