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作者：Kandel, Eugene; Kosenko, Konstantin; Morck, Randall; Yafeh, Yishay
作者单位：Hebrew University of Jerusalem; Hebrew University of Jerusalem; University of Alberta
摘要：Research Summary: Control-magnifying (pyramidal) business groups-multiple tiers of partially-owned listed affiliates and fully-owned private affiliates, a dominant organizational form around the world-are virtually absent in America today. Using newly-assembled historical data, we show that such groups were ubiquitous in the U.S. economy in the 1930s. They came under attack because of their economic and political sway: Some New Deal reforms-proscriptions against public utilities pyramids, inte...
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作者：Png, Ivan P. L.
作者单位：National University of Singapore
摘要：Research Summary: Here, I document the governing copyright law and process of digitizing print records with specific application to the Jaques Cattell directories of U.S. R&D. This novel dataset covers 2,805 companies with 8,525 facilities, including location, reporting line within the organization, numbers of professional staff and technicians, and R&D fields over the years 1975-1998. The dataset includes a match to the Compustat identifier, gvkey. As an illustration, I use the new dataset to...
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作者：Yu, Wei; Minniti, Maria; Nason, Robert
作者单位：National University of Singapore; Syracuse University; Concordia University - Canada
摘要：Research Summary; Behavioral theory examines how the intensity of underperformance influences firms' strategic decisions; yet, it largely fails to consider the effect of underperformance duration. Drawing on behavioral theory and organizational learning, we argue that the length of time that a firm has been underperforming contributes to shaping firms' innovative search patterns. We test our theory merging COMPUSTAT and NBER patent data for 1,610 high-tech manufacturing companies between 1986 ...
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作者：Hill, Aaron D.; Recendes, Tessa; Ridge, Jason W.
作者单位：State University System of Florida; University of Florida; Oklahoma State University System; Oklahoma State University - Stillwater; University of Arkansas System; University of Arkansas Fayetteville
摘要：Research Summary; Integrating victimization into competitive dynamics and upper echelons theorizing, we develop and test theory articulating how rivals' perceptions of a CEO precipitate attacks on the CEO's firm. Rather than treating CEOs' characteristics solely as perpetrating action (a first-order effect, like research integrating upper echelons into competitive dynamics), we argue firms with CEOs possessing characteristics perceived as more submissive or more provocative are subject to more...
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作者：Gans, Joshua S.; Stern, Scott; Wu, Jane
作者单位：University of Toronto; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
摘要：Research Summary: This paper develops an integrated framework linking the nature of the entrepreneurial choice process to the foundations of entrepreneurial strategy. Because entrepreneurs face many alternatives that cannot be pursued at once, entrepreneurs must adopt (implicitly or explicitly) a process for choosing among entrepreneurial strategies. The interplay between uncertainty and learning has the consequence that commitment-free analysis yields multiple, equally viable alternatives fro...
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作者：Ethiraj, Sendil K.; Gambardella, Alfonso; Helfat, Constance E.
作者单位：University of London; London Business School; Bocconi University; Dartmouth College
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作者：Feldman, Emilie R.; Amit, Raphael; Villalonga, Belen
作者单位：University of Pennsylvania; New York University
摘要：Research Summary: This paper explores the stock market performance of acquisitions and divestitures where both, one, or neither of the companies in the transaction are family firms. We find that acquirer shareholder returns are highest when family firms buy businesses from non-family firm divesters, especially when family chief executive officer (CEO) acquirers buy businesses from non-family CEO divesters. Additionally, divester shareholder returns are highest when family firms sell businesses...
