-
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 ...
-
作者：Raj, Manav
作者单位：New York University
摘要：Research Summary Features of the institutional environment influence the performance of firms. In this research, I examine how one aspect of the institutional environment, competition between parties within legislatures, relates to young firm mortality. I argue that higher legislative competition provides legislators with more power to reward favored interests and thus contributes to a competitive environment that benefits well-connected incumbents and imposes negative consequences on young fi...
-
作者：Li, Xia; Simcoe, Timothy
作者单位：Boston University; National Bureau of Economic Research
摘要：Research summary Many markets have multiple voluntary certification programs that sellers use to signal product or organizational quality. We argue that there can be positive spillovers in adoption of competing certifications and propose a framework for understanding how such spillovers arise through three channels: suppliers, adopters, and users of various labels. Our empirical analysis demonstrates these effects in the context of Chinese green-building certification. Specifically, we measure...
-
作者：Fieberg, Christian; Lopatta, Kerstin; Tammen, Thomas; Tideman, Sebastian A.
作者单位：University of Bremen; City University of Hong Kong; University of Hamburg; University of Exeter
摘要：This article investigates the moderating effect of political affinity between countries on investors' reactions to the premium in cross-border acquisitions (CBAs). Based on a sample of 1,183 CBAs between 1999 and 2018, we find that political affinity positively moderates the relationship between the acquisition premium and the acquiring and target firms' stock market return. We argue that investors use political affinity to assess the reliability of the premium (i.e., management's overall perc...
-
作者：Berry, Heather; Kaul, Aseem; Lee, Narae
作者单位：George Washington University; University of Minnesota System; University of Minnesota Twin Cities
摘要：Research abstract We examine whether and how foreign environmental standards influence global sourcing decisions. Taking a question-driven approach, we find a negative association between the stringency of a country's environmental standards and its share in US imports for 82 manufacturing industries across 77 countries between 2006 and 2016. This pollution haven effect holds not only for sourcing from owned foreign operations (offshore integration), but also for sourcing from unrelated third ...
-
作者：Peterson, Aticus; Wu, Andy
作者单位：Harvard University
摘要：Research Summary We study how learning by experience across projects affects an entrepreneur's strategic foresight. In a quantitative study of 314 entrepreneurs across 722 crowdfunded projects supplemented with a program of qualitative interviews, we counterintuitively find that entrepreneurs make less accurate predictions as they gain experience executing projects: they miss their predicted timeline to bring a product to market by nearly six additional weeks on each successive project. Althou...
