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作者：Seo, Haram; Luo, Jiao; Kaul, Aseem
作者单位：Texas A&M University System; Texas A&M University College Station; Mays Business School; University of Minnesota System; University of Minnesota Twin Cities
摘要：Research Summary We examine the returns to specialization versus variety in corporate philanthropy. Acknowledging the theoretical rationale for both a specialist and a generalist approach to philanthropy, we took a question-driven, abductive approach, and found a robust positive association between philanthropic variety and firm profitability for donations by large US public corporations from 2003 to 2011. This association held for variety across causes but not within causes, for nonlocal givi...
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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...
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作者：Pavicevic, Stevo; Keil, Thomas
作者单位：Frankfurt School Finance & Management; University of Zurich
摘要：Research Summary In corporate acquisitions, overconfident chief executive officers (CEOs) often make biased decisions, subsequently paying unjustifiably high acquisition premiums. We investigate the predeal process in which the acquisition premium is decided upon and, drawing from procedural rationality theory, argue that the pursuit of greater procedural rationality through slow-paced predeal processes reduces the tendency of overconfident CEOs to inflate acquisition premiums. The empirical r...
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作者：Tong, Siliang; Jia, Nan; Luo, Xueming; Fang, Zheng
作者单位：Nanyang Technological University; University of Southern California; Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; Sichuan University
摘要：Companies are increasingly using artificial intelligence (AI) to provide performance feedback to employees, by tracking employee behavior at work, automating performance evaluations, and recommending job improvements. However, this application of AI has provoked much debate. On the one hand, powerful AI data analytics increase the quality of feedback, which may enhance employee productivity (deployment effect). On the other hand, employees may develop a negative perception of AI feedback once ...
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作者：Boivie, Steven; Withers, Michael C.; Graffin, Scott D.; Corley, Kevin G.
作者单位：Texas A&M University System; Texas A&M University College Station; University System of Georgia; University of Georgia; Arizona State University; Arizona State University-Tempe
摘要：Research summary The question of what boards do, or should do, has remained a central focus in governance research. Much of this research is based on explicit theories or empirical models that impose assumed behaviors onto boards-such as monitoring-that are thought to define their roles and duties. While these explicit perspectives have offered critical insights, we suggest it is time to consider directors' implicit beliefs of their roles and duties to understand their perspective of the board...
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作者：Choi, Jaeho; Menon, Anoop; Tabakovic, Haris
作者单位：University of Pennsylvania; The Brattle Group
摘要：Research Summary In this article, we examine the relationship between corporate diversification and firm performance using a machine learning technique called natural language processing (NLP). By applying a widely used NLP technique called topic modeling to unstructured text from annual reports, we create a new, multidimensional measure that captures the degree of diversification of both multisegment and single-segment firms. Additionally, we introduce a novel method to incorporate human judg...
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作者：Campbell, Robert J.; Busenbark, John R.; Graffin, Scott D.; Boivie, Steven
作者单位：University of Nebraska System; University of Nebraska Lincoln; University of Notre Dame; University System of Georgia; University of Georgia; Texas A&M University System; Texas A&M University College Station
摘要：Research Summary: Director retention is a common practice during acquisitions, whereby the acquiring firm adds at least one director from the target onto its board. Despite the regularity of the phenomenon, little is understood about the post-acquisition financial implications of director retention. In this exploratory study, we investigate the financial impact (via long-term investor value appropriation) of director retention in a sample of acquisitions among publicly traded firms. Our empiri...
