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作者：Moeen, Mahka; Agarwal, Rajshree
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University System of Maryland; University of Maryland College Park
摘要：Research summary: We examine firms' technological investments during an industry's incubation stage-the period between a technological breakthrough and the first instance of its commercialization. Using the agricultural biotechnology context, we develop stylized findings regarding the understudied knowledge evolution preceding product evolution in an industry's life cycle, the trend and diversity of firms undertaking technological investments in anticipation of industry emergence, their levera...
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作者：Lee, Joon Mahn; Hwang, Byoung-Hyoun; Chen, Hailiang
作者单位：Purdue University System; Purdue University; Cornell University; Korea University; City University of Hong Kong
摘要：Research summary: We provide evidence that founder chief executive officers (CEOs) of large S&P 1500 companies are more overconfident than their nonfounder counterparts (professional CEOs). We measure overconfidence via tone of CEO tweets, tone of CEO statements during earnings conference calls, management earnings forecasts, and CEO option-exercise behavior. Compared with professional CEOs, founder CEOs use more optimistic language on Twitter and during earnings conference calls. In addition,...
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作者：Oehmichen, Jana; Schrapp, Sebastian; Wolff, Michael
作者单位：University of Gottingen
摘要：Research summary: We analyze the effects of board industry expertise on corporate strategic change and the moderating role of institutional quality. We suggest that country-level contingency factors mitigate the effect of experienced boards on strategy formation by providing alternative sources of information and control in strategic matters. We develop institutional quality as institutional information provision and institutional control provision to test our hypotheses on a sample of firms f...
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作者：Blake, Daniel J.; Moschieri, Caterina
作者单位：IE University
摘要：Research summary: In this article, we investigate the firm-specific environment and its impact on firm strategy focusing on adverse changes in the policy environment and their effect on divestitures. We argue that experiencing a negative change in the firm-specific policy environment causes firms to reassess their exposure to policy risk and their ability to manage their policy environment, making them more likely to divest. Operationalizing negative shifts in the firm-specific policy environm...
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作者：Lyngsie, Jacob; Foss, Nicolai J.
作者单位：Copenhagen Business School; Norwegian School of Economics (NHH)
摘要：Research summary: We study the association between firms' entrepreneurial outcomes and their gender composition. Though highly topical, there is little solid empirical knowledge of this issue, which calls for an inductive approach. We match a paired-respondent questionnaire survey with population-wide employer-employee data, and find evidence that the presence of female top managers is positively related to entrepreneurial outcomes in established firms. Yet, this relation is conditional on the...
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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：Krause, Ryan
作者单位：Texas Christian University
摘要：Research summary: Scholars have traditionally conceptualized board leadership as a dichotomous construct. A combined CEO and board chair position is interpreted as reflecting a more collaborative approach to corporate governance, whereas separate positions are interpreted as ensuring greater board control. I challenge this conceptualization and posit that a separate board chair can be oriented toward collaboration as well as-or in place of-control. I analyze newly available data from corporate...
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作者：Quigley, Timothy J.; Graffin, Scott D.
作者单位：University System of Georgia; University of Georgia
摘要：A recent study by Fitza argued that the prior estimates of the Chief Executive Officer (CEO) effect are conflated with events outside the CEO's control, are largely the result of random chance, and that the true CEO effect is smaller than has been previously estimated. We suggest that the empirical methodology employed by Fitza to support these claims substantially overstates the random chance element of the CEO effect. We replicate Fitza's findings, highlight methodological issues, offer alte...
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作者：Cuypers, Ilya R. P.; Cuypers, Youtha; Martin, Xavier
作者单位：Singapore Management University; Universidade Nova de Lisboa; Tilburg University
摘要：Research summary: Extending research on the effect of experience on acquisition outcomes, we examine how the differential in previous M&A experience between the target and the acquirer affects the value they, respectively, obtain when the acquirer takes over the target. Drawing on literature about organizational learning, negotiation, and information economics, we theorize that the party with greater experience will be able to obtain more value. Furthermore, we theorize that the effect of diff...
