-
作者：Amore, Mario Daniele; Bennedsen, Morten; Le Breton-Miller, Isabelle; Miller, Danny
作者单位：Bocconi University; INSEAD Business School; Universite de Montreal; HEC Montreal
摘要：Research Summary We study successions from a non-family CEO back to a family CEO, which we label Type-R successions. In our sample of 489 Italian family firms experiencing the departure of non-family CEOs, these successions represent 42% of all cases. Our difference-in-differences results indicate that family firms undertaking Type-R successions experience an 18% superiority in profitability. Exploring the heterogeneity underlying this result, we find that Type-R successions produce weaker res...
-
作者：Busch, Christian; Barkema, Harry
作者单位：New York University; University of London; London School Economics & Political Science
摘要：Research summary Enterprises in low-resource contexts often rely on bricolage (i.e., making do by applying resources at hand to new problems). However, bricolage has traditionally been regarded as a way to temporarily get by, potentially constraining growth if continued over time. This has been explained by factors such as limited development of learning competencies. Surprisingly, we encountered a social organization appearing to use bricolage to scale extensively into a variety of locations....
-
作者：Asmussen, Christian G.; Foss, Kirsten; Foss, Nicolai J.; Klein, Peter G.
作者单位：University of London; King's College London; Copenhagen Business School; Norwegian School of Economics (NHH); Baylor University
摘要：Research summary Research has examined how economizing and strategizing mechanisms interact in driving competitive outcomes, but the role of coalitions in this process has received little attention. Coalitions are formed to create more value (i.e., economizing) and to strengthen competitive positions (i.e., strategizing). Based on a formal coalitional model, we derive several unintuitive results. We show that economizing actions may backfire because creating more value may lead other players t...
-
作者：Kim, Sol; Lee, Geul; Kang, Hyoung-Goo
作者单位：Hanyang University
摘要：Research Summary We introduce an innovative method of identifying the risk-management benefit of corporate social responsibility (CSR). Option-implied volatility captures the financial markets' expectations of a firm's future risk, so if CSR is related to risk-management benefits, it should be related to lower implied volatility. We find that CSR is associated with low implied volatility and that CSR's insurance benefit is larger for firms that have high leverage, growth opportunities, or unce...
-
作者：Shi, Wei; Gao, Cheng; Aguilera, Ruth V.
作者单位：University of Miami; University of Michigan System; University of Michigan; Northeastern University; Universitat Ramon Llull; Escuela Superior de Administracion y Direccion de Empresas (ESADE)
摘要：Research Summary: The benefits of foreign institutional ownership (FIO) have been amply researched, but there are also potential downsides to such ownership. High FIO can subject a firm to heightened regulatory scrutiny and compliance, increasing its political dependence. Drawing on resource dependence theory, we argue that firms can manage the political dependence that arises from FIO by engaging in corporate political spending (CPS). We derive two moderating conditions from our theoretical a...
-
作者：Srikanth, Kannan; Anand, Jaideep; Stan, Mihaela
作者单位：University System of Ohio; Ohio State University; University of London; University College London
摘要：Research Summary That capability development is subject to time compression diseconomies (TCD) is well-known in the strategy literature. However, so far, there is limited attention paid to its origins, that is, why it exists, and demonstrating it empirically. In the context of fertility clinics in the United Kingdom, we show that faster experience accumulation is associated with lower success rates; that is, time compression in experience accumulation results in shallower learning curves. We a...
-
作者：Choudhury, Prithwiraj (Raj); Foroughi, Cirrus; Larson, Barbara
作者单位：Harvard University; Harvard University; Northeastern University
摘要：Research Summary An emerging form of remote work allows employees to work-from-anywhere, so that the worker can choose to live in a preferred geographic location. While traditional work-from-home (WFH) programs offer the worker temporal flexibility, work-from-anywhere (WFA) programs offer both temporal and geographic flexibility. WFA should be viewed as a nonpecuniary benefit likely to be preferred by workers who would derive greater utility by moving from their current geographic location to ...
-
作者：Wibbens, Phebo D.
作者单位：INSEAD Business School
摘要：Research Summary This article introduces a formal model of long-term resource dynamics under uncertainty. The model demonstrates the importance of competitive amplification for the emergence of sustained performance heterogeneity. In some markets, small differences in resource positions tend to amplify over time into large performance differences. The model predicts that this amplification and the resulting performance heterogeneity are largest in markets where firms compete for critical resou...
-
作者：Martignoni, Dirk; Keil, Thomas
作者单位：Universita della Svizzera Italiana; University of Zurich
摘要：Research Summary When organizational environments change, experience, and organizational beliefs are often devalued and may become an obstacle to organizational adaptation. The literature on unlearning suggests organizations can overcome this problem by unlearning. However, prior work focuses mostly on unlearning of what has worked in the past (success beliefs) and neglects unlearning of what did not work (failure beliefs). We examine the differences in unlearning these two types of beliefs an...
-
作者：Kovacs, Balazs; Carnabuci, Gianluca; Wezel, Filippo Carlo
作者单位：Yale University; European School of Management & Technology; Universita della Svizzera Italiana
摘要：Research Summary Whereas prior innovation and strategy literature studied how attentional and search dynamics influence the creation of inventions, we examine how these same processes affect the impact of inventions after their creation. We theorize that inventions classified in high-contrast technological categories garner more attention by potential users and, hence, accrue more citations than otherwise-equivalent inventions classified in low-contrast categories. We test this hypothesis via ...
