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作者：Huang, Zhi; Zhu, Hong (Susan); Brass, Daniel J.
作者单位：University of Kentucky; Peking University Shenzhen Graduate School (PKU Shenzhen); Peking University
摘要：Inconclusive findings about the effect of national cultural differences on post-acquisition performance may be created by the failure to distinguish among the different cultural dimensions and the asymmetry of cultural differences. To demonstrate a different approach, this study focuses on one dimension of national cultural values-power distance value (PDV) and develops a framework for the asymmetric effect of PDV differences in creating two types of conflicts. The analysis of 2,115 cross-bord...
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作者：Castellaneta, Francesco; Conti, Raffaele; Kacperczyk, Aleksandra
作者单位：Universidade Catolica Portuguesa; Massachusetts Institute of Technology (MIT)
摘要：We investigate the impact of trade secret legal protection on firm market value in the context of acquisitions. On one hand, market value may increase because trade secret assets become better protected from rivals. On the other hand, market value may decrease because trade secret protection reduces information about the target and its competitors available to potential buyers, increasing uncertainty about its value. Buyers will discount their offers in expectation of being compensated for ris...
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作者：Silverman, Brian S.; Ingram, Paul
作者单位：University of Toronto; Columbia University
摘要：We explore captain-ownership and vessel performance in eighteenth-century transatlantic shipping. Although contingent compensation often aligned incentives between captains and shipowners, one difficult-to-contract hazard was threat of capture during wartime. We exploit variation across time and routes to study the relationship between capture threat and captain-ownership. Vessels were more likely to have captain-owners when undertaking wartime voyages on routes susceptible to privateers. Capt...
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作者：Qian, Cuili; Wang, Heli; Geng, Xuesong; Yu, Yangxin
作者单位：City University of Hong Kong; Singapore Management University; City University of Hong Kong
摘要：A firm's strategic investments in knowledge-based assets through research and development (R&D) can generate economic rents for the firm, and thus are expected to affect positively a firm's financial performance. However, weak protection of minority shareholders, weak property rights, and ineffective law enforcement can allow those rents to be appropriated disproportionately by a firm's powerful insiders such as large owners and top managers. Recent data on Chinese publicly listed firms during...
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作者：Cuypers, Ilya R. P.; Ertug, Gokhan; Reuer, Jeffrey J.; Bensaou, Ben
作者单位：Singapore Management University; University of Colorado System; University of Colorado Boulder; INSEAD Business School
摘要：Relatively little attention has been paid to boards in international joint ventures (IJVs), and the composition of these boards in particular. We examine the determinants of foreign partners' representation on IJV boards in order to advance our knowledge of this facet of IJV governance. We argue that a foreign partner's representation on the IJV board is related to its equity contribution. However, we hypothesize that this relationship is moderated by IJV and host country characteristics that ...
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作者：Morris, Shad S.; Alvarez, Sharon A.; Barney, Jay B.; Molloy, Janice C.
作者单位：Brigham Young University; University of Denver; Utah System of Higher Education; University of Utah; University of Michigan System; University of Michigan
摘要：Prior scholarship has assumed that firm-specific and general human capital can be analyzed separately. This article argues that, in some settings, this is not the case because prior firm-specific human capital investments can be a market signal of an individual's willingness and ability to make such investments in the future. As such, the willingness and ability to make firm-specific investments is a type of general human capital that links firm-specific and general human capital in important ...
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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：Bromiley, Philip; Rau, Devaki; Zhang, Yu
作者单位：University of California System; University of California Irvine; Northern Illinois University; China Europe International Business School
摘要：Many studies use research and development (R&D) intensity or R&D spending as a proxy for risk taking, but we have little evidence that either associates positively with firm risk. We analyze the relations between R&D intensity (R&D spending to sales) and R&D spending on the one hand and 11 different indicators of firm risk on the other, using data from 1,907 to 3,908 firms in various industries over 13 years. The analysis finds a general lack of consistent positive association between R&D and ...
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作者：Li, Chengguang; Brodbeck, Felix C.; Shenkar, Oded; Ponzi, Leonard J.; Fisch, Jan Hendrik
作者单位：University of Paderborn; University of Munich; University System of Ohio; Ohio State University; Vienna University of Economics & Business; University of Newcastle
摘要：Prior research focused on cultural differences and their impact on foreign direct investment (FDI), neglecting other potentially relevant variables attesting to the cultural interaction between a multinational enterprise and its host environment. In this article, we draw on interpersonal attraction research to develop a positive approach to cross-cultural interaction with the cultural attractiveness (CA) construct, whereby members of a focal culture view another culture as desirable. We create...
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作者：Rowley, Timothy J.; Shipilov, Andrew V.; Greve, Henrich R.
作者单位：University of Toronto; INSEAD Business School; INSEAD Business School
摘要：External stakeholders frequently attempt to influence organizations' adoption of new practices through the creation of public ratings. Based on the insights of performance feedback theory, we develop the theory of organizational reactions to external ratings to explain how firms' behaviors depend on their rating scores and their profitability. A central issue in our theory is the conflict between established internal goals and goals introduced by public ratings, with public ratings receiving l...
