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作者：Kulchina, Elena
作者单位：Duke University
摘要：Research summary: The entrepreneurship literature has extensively studied an individual's decision to found a new venture, but it has little to say about the individual's choice to operate this venture personally or hire an agent. This decision is particularly challenging for foreign entrepreneurs, who, in addition to traditional factors, such as agency costs and personal preferences, need to take into consideration the benefits and liabilities of foreignness. Using novel data on foreign entre...
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作者：Paruchuri, Srikanth; Awate, Snehal
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Indian School of Business (ISB)
摘要：Research summary: While firms tend to build on their own knowledge, we distinguish between depth and breadth of local search to investigate the drivers of these behaviors. Given that inventors in a firm carry out the knowledge creation activities, we strive to identify inventors responsible for these behaviors by employing the notion of an intra-firm inventor network. A longitudinal examination of 14,575 inventors from four large semiconductor firms using patent data supports our hypotheses th...
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作者：Gao, Cheng; Zuzul, Tiona; Jones, Geoffrey; Khanna, Tarun
作者单位：Harvard University; University of London; London Business School; Harvard University
摘要：Research summary: Emerging markets are characterized by underdeveloped institutions and frequent environmental shifts. Yet, they also contain many firms that have survived over generations. How are firms in weak institutional environments able to persist over time? Motivated by 69 interviews with leaders of emerging market firms with histories spanning generations, we combine induction and deduction to propose reputation as a meta-resource that allows firms to activate their conventional resou...
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作者：Flammer, Caroline; Bansal, Pratima
作者单位：Boston University; Western University (University of Western Ontario)
摘要：Research summary: In this paper, we theorize and empirically investigate how a long-term orientation impacts firm value. To study this relationship, we exploit exogenous changes in executives' long-term incentives. Specifically, we examine shareholder proposals on long-term executive compensation that pass or fail by a small margin of votes. The passage of such close call proposals is akin to a random assignment of long-term incentives and hence provides a clean causal estimate. We find that t...
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作者：Arend, Richard J.; Zhao, Y. Lisa; Song, Michael; Im, Subin
作者单位：University of Missouri System; University of Missouri Kansas City; Seattle University; Harbin Institute of Technology; Yonsei University
摘要：Research summary: The role of the strategic planning process in the ongoing generation of innovative knowledge is vital to the survival and growth of a firm, especially when technologies and market conditions are rapidly changing. We analyze data from a survey of firms in high-technology industries to determine whether it is possible to break the commonly experienced trade-off between strategic planning's positive influence on firm profitability and its negative influence on firm innovation. W...
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作者：Dorobantu, Sinziana; Odziemkowska, Kate
作者单位：New York University; University of Pennsylvania
摘要：Research summary: While research has shown that good stakeholder relations increase the value of a firm, less is known about how specific types of stakeholder governance affect firm value. We examine the value of one such governance mechanismcommunity benefits agreements (CBAs) signed by firms and local communitiesintended to minimize social conflict that disrupts access to valuable resources. We argue that shareholders evaluate more positively CBAs with local communities with strong property ...
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作者：Smit, Han T. J.; Trigeorgis, Lenos
作者单位：Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; University of Cyprus; University of London; King's College London; Massachusetts Institute of Technology (MIT)
摘要：Research summary: Among the most difficult firm strategic choices is the trade-off between making a long-term commitment or holding off on investment in the face of uncertainty. To operationalize strategic management theory under demand, technological and competitive uncertainty, we develop a Strategic Net Present Value (NPV) framework that integrates real options and game theory to quantify value components and interactions at the interface between NPV, real options, and strategic games. Our ...
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作者：Haleblian, Jerayr J.; Pfarrer, Michael D.; Kiley, Jason T.
作者单位：University of California System; University of California Riverside; University System of Georgia; University of Georgia; Oklahoma State University System; Oklahoma State University - Stillwater
摘要：Research summary: Emerging reputation research suggests that high-reputation firms will act to maintain their reputations in the face of high expectations. Yet, this research remains unclear on how high-reputation firms do so. We advance this research by exploring three questions related to high-reputation firms' differential acquisition behaviors: Do high-reputation firms make more acquisitions than similar firms without this distinction? What kind of acquisitions do they make? How do investo...
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作者：Roy, Raja; Cohen, Susan K.
作者单位：Northeastern Illinois University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：Research summary: We investigate the effect of incumbents' stock of downstream complementary assets on their product innovation during a disruptive technological change. We theorize that a firm's stock of downstream complementary assets, by providing critical information about shifting demand conditions, will play a catalytic role in firm adaptation during such a change. Using the advent of disruptive computer numerical control machine tools in the U.S. machine tool industry during the 1970s a...
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作者：Shi, Wei; Connelly, Brian L.; Hoskisson, Robert E.
作者单位：Indiana University System; Indiana University Indianapolis; IU Kelley School of Business; Auburn University System; Auburn University; Rice University
摘要：Research summary: Agency theory suggests that external governance mechanisms (e.g., activist owners, the market for corporate control, securities analysts) can deter managers from acting opportunistically. Using cognitive evaluation theory, we argue that powerful expectations imposed by external governance can impinge on top managers' feelings of autonomy and crowd out their intrinsic motivation, potentially leading to financial fraud. Our findings indicate that external pressure from activist...
