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作者：Chen, Tianxu; Qian, Lihong; Narayanan, Vadake
作者单位：Portland State University; Drexel University
摘要：Research summary: Startups often compete with diversifying entrants in the technology race to define dominant designs, which can be platform technology-based or non-platform technology-based. However, little research has examined the relative risk of technological exits for startups vs. diversifying entrants in such dominance battles. We develop a contingency framework that links a firm's technology exit to its pre-entry experience and the characteristics of the dominance battle. With a sample...
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作者：Kim, Eun-Hee; Youm, Yoo Na
作者单位：Fordham University; Loyola University Chicago
摘要：Research summary: The importance of firm-stakeholder relationships is gaining increasing attention. Although a theory of the drivers and consequences of stakeholder pressure has been developing, it focuses on pressures from organized stakeholders such as shareholders, NGOs, and activists, and does not incorporate the emerging possibility that individual voices may matter. By exploring corporate Twitter, which facilitates movement of individual stakeholders such as customers to a higher stakeho...
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作者：Zorn, Michelle L.; Shropshire, Christine; Martin, John A.; Combs, James G.; Ketchen, David J., Jr.
作者单位：Auburn University System; Auburn University; Arizona State University; Arizona State University-Tempe; University System of Ohio; Wright State University Dayton; State University System of Florida; University of Central Florida
摘要：Research summary: Corporate scandals of the previous decade have heightened attention on board independence. Indeed, boards at many large firms are now so independent that the CEO is home alone as the lone inside member. We build upon pro-insider research within agency theory to explain how the growing trend toward lone-insider boards affects key outcomes and how external governance forces constrain their impact. We find evidence among S&P 1500 firms that having a lone-insider board is associa...
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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：Li, Haiyang; Yi, Xiwei; Cui, Geng
作者单位：Rice University; Peking University; Lingnan University
摘要：Research summary: In this study we examine how an emerging market firm's inward international activities (inward activities) are related to its outward international activities (outward activities) by focusing on the role of the firm's gain from its inward activities. On the one hand, drawing upon the organizational learning perspective, we propose that a firm's gain from inward activities may facilitate its outward activities through improving its resource fungibility. On the other hand, we d...
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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：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：Rabier, Maryjane R.
作者单位：McGill University
摘要：Research summary: I examine how acquisition motives relate to the distribution of post-acquisition performance. I argue that acquisitions motivated by operating synergies have the potential to experience greater gains than acquisitions driven by financial synergies but are harder to value and implement, making them more uncertain. Using SEC filings, conference calls and press releases to capture acquisition motives, I find that acquirers pursuing operating synergies are more likely to experien...
