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作者：Sharapov, Dmitry; Kattuman, Paul; Rodriguez, Diego; Velazquez, F. Javier
作者单位：Imperial College London; University of Cambridge; Complutense University of Madrid
摘要：Research Summary Variance decomposition methods allow strategy scholars to identify key sources of heterogeneity in firm performance. However, most extant approaches produce estimates that depend on the order in which sources are considered, the ways they are nested, and which sources are treated as fixed or random effects. In this paper, we propose the use of an axiomatically justified, unique, and effective solution to this limitation: the Shapley Value approach. We show its effectiveness co...
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作者：Zhang, Yan Anthea; Chen, Zhuo Emma; Wang, Yuandi
作者单位：Rice University; American University; Sichuan University
摘要：Research Summary Patent collateral is an important aspect in the debt financing of firms. We argue that in accepting patent collaterals, lenders need to balance between risk of obsolescence and risk of unverified external inventions, both of which are related to patents' external technology linkage. Patents linked to old external inventions are subject to risk of obsolescence while patents linked to too new external inventions are subject to risk of unverified external inventions, and therefor...
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作者：Park, Sun Hyun; Chung, Sung Hun (Brian); Rajagopalan, Nandini
作者单位：Seoul National University (SNU); Rice University; University of Southern California
摘要：Research Summary Chief executive officers (CEOs) often make internal attributions of positive firm performance outcomes by highlighting their strategic choices as the cause of favorable performance results. We investigate the dynamic consequences of CEO internal performance attributions along a CEO's tenure. CEO internal attributions create an expectation that favorable firm performance will continue under the CEO's leadership. When firm performance turns negative, however, financial analysts ...
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作者：Morandi Stagni, Raffaele; Fosfuri, Andrea; Santalo, Juan
作者单位：Universidad Carlos III de Madrid; Bocconi University; IE University
摘要：Research Summary Do firms respond to tougher competition by searching for completely new technological solutions (exploration), or do they work to defend their position by improving current technologies (exploitation)? Considering the different times to fruition for exploration versus exploitation, in the presence of heightened competition, we argue that firms might not be able to wait for the benefits of technological exploration to materialize. With a panel data set of U.S. manufacturing fir...
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作者：Chen, Guoli; Chittoor, Raveendra; Vissa, Balagopal
作者单位：INSEAD Business School; University of Victoria
摘要：Research Summary: Using a principal-principal agency theory lens, we examine corporate governance and compensation design in family-owned businesses. We conceptualize how CEO pay and pay-performance sensitivity is influenced by whether the CEO is a professional or drawn from the controlling family (family CEO). Data from a sample of 277 publicly listed Indian family firms during 2004-2013 support our argument that family CEOs get paid more than professional CEOs. This pattern is stronger in su...
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作者：Stevens, Charles E.; Newenham-Kahindi, Aloysius
作者单位：Lehigh University; University of Victoria
摘要：Research summary Many questions remain about how MNEs manage corruption. Moreover, what is known derives largely from the perspective and experiences of developed country MNEs. To address this limitation, we compare developed country and developing country MNEs' approaches for managing corruption in sub-Saharan Africa. Through an inductive, qualitative research design, we discover how and why firms engage in avoidance and acquiescence strategies. We also uncover a novel engagement strategy pio...
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作者：Sohl, Timo; Folta, Timothy B.
作者单位：Pompeu Fabra University; University of Connecticut
摘要：Research Summary This study develops a framework providing guidance in examining when exit decisions might be driven by resource redeployment versus divestment. Exploratory analyses of the global retail sector show patterns largely consistent with conventional explanations of exit through divestment. We also provide the first large-scale empirical evidence consistent with redeployment motives of exit. In particular, by focusing on the potential for redeployment of fixed assets (i.e., physical ...
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作者：Wormald, Audra; Agarwal, Rajshree; Braguinsky, Serguey; Shah, Sonali K.
作者单位：University System of Maryland; University of Maryland College Park; University of Illinois System; University of Illinois Urbana-Champaign
摘要：Research Summary: We investigate the emergence of a global industry based on digital innovation by studying how the international expansion of pioneering firms relates to their characteristics and strategies for capability development and deployment. Using detailed archival data on mobile money, we classify pioneers that internationalize based on whether they were multinational diversifying entrants, developed country startups, or developing country startups. Our quantitative evidence suggests...
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作者：Fang, Tommy Pan; Wu, Andy; Clough, David R.
作者单位：Harvard University; Harvard University; University of British Columbia
摘要：Research Summary Software platforms create value by cultivating an ecosystem of complementary products and services. Existing explanations for how a prospective complementor chooses platforms to join assume the complementor has rich information about the range of available platforms. However, complementors lack this information in many ecosystems, raising the question of how complementors learn about platforms in the first place. We investigate whether attending a temporary gathering-a hackath...
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作者：Gai, Shelby L.; Cheng, J. Yo-Jud; Wu, Andy
作者单位：Michigan State University; Michigan State University's Broad College of Business; University of Virginia; Harvard University
摘要：Research Summary Our study introduces board committees as a crucial determinant of board actions. We examine how directors who structurally link different board committees-referred to as multi-committee directors (MCDs)-explain why some board actions are merely symbolic while others are more substantive. As a baseline, we argue that boards in general respond to financial restatements at peer firms by symbolically appointing new directors who are relatively inexperienced and unlikely to have a ...
