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作者：Chatain, Olivier; Meyer-Doyle, Philipp
作者单位：Hautes Etudes Commerciales (HEC) Paris; INSEAD Business School
摘要：Research summary: We examine how human-capital-intensive firms deploy their human assets and how firm-specific human capital interacts with incentives to influence this deployment. Our empirical context is the UK M&A legal market, where micro-data enable us to observe the allocation of lawyers to M&A mandates under different incentive regimes. We find that law firms actively equalize the workload among their lawyers to seek efficiency gains, while stretching lawyers with high firm-specific cap...
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作者：Crilly, Donal
作者单位：University of London; London Business School
摘要：Research summary: When describing the future, executives draw analogies between time and space (we are on the right path, the deadline is approaching). These analogies shape how executives construe the future and influence attitudes to action with long-term benefits but short-term costs. Ego-moving frames (we are approaching the future) prompt a focus on the present, whereas time-moving frames (the future is approaching) underscore the advent of the future as inevitable. Ultimately, action tha...
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作者：Ozmel, Umit; Reuer, Jeffrey J.; Wu, Cheng-Wei
作者单位：Purdue University System; Purdue University; University of Colorado System; University of Colorado Boulder; University of Hong Kong
摘要：Research summary: This article shows that there is a positive association between the changes in the number of prior acquisitions or the changes in the prominence of prior acquirers within the focal venture's subfield and the venture's likelihood to be acquired. Results are in line with the existence of frequency- and trait-based imitation in acquisitions targeting tech ventures. More importantly, these positive associations are more pronounced when (a) exogenous technological uncertainty with...
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作者：Theeke, Matt; Lee, Hun
作者单位：George Mason University
摘要：Research summary: Research shows that multimarket contact (MMC) reduces rivalry involving downstream activities. Yet, studies showing that MMC can increase the threat of imitation suggest a need to better understand how MMC affects upstream rivalry over knowledge-based resources. In this study, we argue that MMC increases rivalry over knowledge-based resources since the deterrent threat of retaliation that typically leads to mutual forbearance in downstream activities will not be sufficient to...
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作者：Hill, Aaron D.; Aime, Federico; Ridge, Jason W.
作者单位：Oklahoma State University System; Oklahoma State University - Stillwater; University of Arkansas System; University of Arkansas Fayetteville
摘要：Research summary: Building on research in strategic management that has found that high levels of pay dispersion are detrimental to firm performance; we examine the potential dependence of those findings on similar dispersion in the latent potential of those resources to contribute to performance. We find that congruence between resource value dispersion and pay dispersion is positively related to organizational performance. Additionally, we find that this congruence moderates the effects of b...
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作者：Li, Jing; Xia, Jun; Lin, Zhouyu
作者单位：Simon Fraser University; University of Texas System; University of Texas Dallas; Jinan University
摘要：Research summary: Cross-border acquisitions may raise legitimacy concerns by host-country stakeholders, affecting the acquisition outcomes of foreign firms. We propose that theorization by local regulatory agencies is a key mechanism that links legitimacy concerns with acquisition outcomes. Given that theorization is time consuming and its outcome is uncertain, we argue that state-owned foreign firms experience a lower likelihood of acquisition completion and a longer duration for completing a...
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作者：Quigley, Timothy J.; Crossland, Craig; Campbell, Robert J.
作者单位：University System of Georgia; University of Georgia; University of Notre Dame
摘要：Despite a number of studies highlighting the important impact Chief Executive Officers (CEOs) have on firms, several theoretical and methodological questions cloud existing findings. This study takes an alternative approach by examining how shareholders' perceptions of CEO significance have changed over time. Using an event study methodology and a sample of 240 sudden and unexpected CEO deaths, we show that absolute (unsigned) market reactions to these events in U.S. public firms have increase...
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作者：Christensen, Lisa Jones; Siemsen, Enno; Branzei, Oana; Viswanathan, Madhu
作者单位：Brigham Young University; University of Wisconsin System; University of Wisconsin Madison; Western University (University of Western Ontario); University of Illinois System; University of Illinois Urbana-Champaign
摘要：Research summary: Strategy scholars increasingly conduct research in nontraditional contexts. Such efforts often require the assistance of third-party intermediaries who understand local culture, norms, and language. This reliance on intermediation in primary or secondary data collection can elicit agency breakdowns that call into question the reliability, analyzability, and interpretability of responses. Herein, we investigate the causes and consequences of intermediary bias in the form of fa...
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作者：Fitza, Markus; Tihanyi, Laszlo
作者单位：Frankfurt School Finance & Management; University of Newcastle; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：Research summary: Previous studies have emphasized firm and industry effects on variation in firm performance, but the relationship between forms of ownership and firm performance has been the focus of limited research. This article examines the extent to which ownership form (i.e., public or private ownership) and ownership structure (including diffused ownership and blockholding) affect firm performance. The results of an analysis of 30,525 European Union (EU) firms indicate that form of own...
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作者：Menon, Anoop R.; Yao, Dennis A.
作者单位：University of Pennsylvania; Harvard University
摘要：This article proposes an approach for modeling competitive interactions that incorporates the costs to firms of changing strategy. The costs associated with strategy modifications, which we term repositioning costs, are particularly relevant to competitive interactions involving major changes to business strategies. Repositioning costs can critically affect competitive dynamics and, consequently, the implications of strategic interaction for strategic choice. While the literature broadly recog...
