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作者：Ioannou, Ioannis; Serafeim, George
作者单位：University of London; London Business School; Harvard University
摘要：We explore the impact of corporate social responsibility (CSR) ratings on sell-side analysts' assessments of firms' future financial performance. We suggest that when analysts perceive CSR as an agency cost they produce pessimistic recommendations for firms with high CSR ratings. Moreover, we theorize that, over time, the emergence of a stakeholder focus shifts the analysts' perceptions of CSR. Using a large sample of publicly traded U.S. firms over 15 years, we confirm that, in the early 1990...
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作者：Harmon, Derek J.; Kim, Peter H.; Mayer, Kyle J.
作者单位：University of Southern California
摘要：Contract violations are ubiquitous. There has been little attention, however, dedicated to understanding the mechanisms involved in making sense of and addressing such occurrences. Two experimental studies investigated how people interpret contract violations and how these interpretations affect trust and the management of relationships. By drawing on the distinction between violations of the letter versus spirit of the law, we show that letter violations are more difficult to overcome than sp...
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作者：Betschinger, Marie-Ann
作者单位：HSE University (National Research University Higher School of Economics)
摘要：The study explores the role of banks as debt and equity holders for the riskiness of a firm's investment strategy using a panel of Japanese firms in the electronics industry in the period 1992-2004 for the empirical analysis. Based on a conceptual framework grounded in agency and financial intermediation theories, we find that a larger involvement of banks as debt holders in a firm is associated with lower foreign direct investment portfolio risk, while the shareholdings of universal banks inc...
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作者：Pacheco, Desiree F.; Dean, Thomas J.
作者单位：Portland State University; Colorado State University System; Colorado State University Fort Collins
摘要：Why do firms respond to social movement pressures differently? This study investigates how the strategic motivation of firms, as captured by competitor activity and market dependence, influences the likelihood of their response to social movement demands. We examine this through a longitudinal analysis of wind power adoption by electric utilities in U.S. deregulated markets. We find that when either competitor actions aligned with movement demands or firm dependence on targeted markets increas...
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作者：Younge, Kenneth A.; Tong, Tony W.; Fleming, Lee
作者单位：Purdue University System; Purdue University; University of Colorado System; University of Colorado Boulder; University of California System; University of California Berkeley
摘要：This study draws on strategic factor market theory and argues that acquirers' decisions regarding whether to bid for a firm reflect their expectations about employee departure from the firm post-acquisition, suggesting a negative relationship between the anticipated employee departure from a firm and the likelihood of the firm becoming an acquisition target. Using a natural experiment and a difference-in-differences approach, we find causal evidence that constraints on employee mobility raise ...
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作者：Nakauchi, Motohiro; Wiersema, Margarethe F.
作者单位：Toyo University; University of California System; University of California Irvine
摘要：Scholars studying upper echelons have found that executive succession can serve as an important adaptation mechanism. The bulk of these findings, however, derive from market-based governance settings, which raises an issue of contextual robustness. This study examines this issue by investigating the link between executive succession and strategic change in Japan, a context noted for relatively weak market-based corporate governance and lack of board independence. We find a greater likelihood o...
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作者：Kreutzer, Markus; Walter, Jorge; Cardinal, Laura B.
作者单位：University of St Gallen; European Business School (EBS) University; George Washington University; University of Houston System; University of Houston
摘要：In contrast to the contingency approach advanced by most prior work, we suggest a complementary perspective on organizational control and its relationship with performance. We argue that the simultaneous use of behavior and outcome control capitalizes on their respective advantages, and is therefore more effective than a sole reliance on either control type. Moreover, with organizational control seeking alignment between individual and organizational goals, the benefits of such a complementary...
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作者：Raithel, Sascha; Schwaiger, Manfred
作者单位：University of Munich
摘要：Superior corporate reputations can have strategic value for firms. Of the multiple reputations associated with each firm, we focus on the perceptions of the general public. The public represents the most widely defined stakeholder group but has attracted the least amount of research interest to date. Drawing on data for German firms, this study demonstrates that superior reputation perceptions issued by the general public increase shareholder value, as measured by future stock returns. This st...
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作者：Bingham, Christopher B.; Heimeriks, Koen H.; Schijven, Mario; Gates, Stephen
作者单位：University of North Carolina; University of North Carolina Chapel Hill; Tilburg University; University of Illinois System; University of Illinois Urbana-Champaign; Audencia
摘要：Much is known about the importance of dynamic capabilities. Yet, surprisingly little is known about how multiple dynamic capabilities might be developed in parallel, since most existing work explores a particular dynamic capability in isolation. Using rich quantitative and qualitative data on Dow Chemical's acquisitions, joint ventures, and divestitures over the past 20years, we seek to address this gap. Besides contributing by adding fresh insights about managing growth and the utility of dis...
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作者：Anderson, Brian S.; Kreiser, Patrick M.; Kuratko, Donald F.; Hornsby, Jeffrey S.; Eshima, Yoshihiro
作者单位：University of Colorado System; University of Colorado Boulder; Iowa State University; Indiana University System; Indiana University Bloomington; IU Kelley School of Business; University of Missouri System; University of Missouri Kansas City; University of Osaka
摘要：Entrepreneurial orientation (EO)a firm's strategic posture towards entrepreneurshiphas become the predominant construct of interest in strategic entrepreneurship research. Despite the ever-increasing volume of nomological research on EO, there remain ongoing conversations regarding its ontology. Drawing from measurement theory, we outline an EO reconceptualization addressing the likely prevalence of Type II nomological error in the EO literature stemming from measurement model misspecification...
