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作者：Wowak, Adam J.; Mannor, Michael J.; Wowak, Kaitlin D.
作者单位：University of Notre Dame
摘要：Stock options are thought to align the interests of CEOs and shareholders, but scholars have shown that options sometimes lead to outcomes that run counter to what they are meant to achieve. Building on this research, we argue that options promote a lack of caution in CEOs that manifests in a higher incidence of product safety problems. We also posit that this relationship varies across CEOs, and that the effect of options will depend upon CEO characteristics such as tenure and founder status....
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作者：Stevens, Robin; Moray, Nathalie; Bruneel, Johan; Clarysse, Bart
作者单位：Ghent University; HOGENT University College of Applied Sciences & Arts; Imperial College London
摘要：The complexity of issues firms have to attend to make it impossible for CEOs to give their full attention to all issues concurrently. Drawing on the attention-based view of the firm, this paper opens the black box of attention allocation in for-profit social enterprises by showing how attention structures and the context in which the firm operates interplay. Utilizing empirical data on 148 for-profit social enterprises, findings show that the attention structuresother-regarding values, utilita...
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作者：Agrawal, Ajay; Cockburn, Iain; Zhang, Laurina
作者单位：University of Toronto; Boston University
摘要：Using novel survey data on technology licensing, we report the first empirical evidence linking the three main sources of failure emphasized in the market design literature (lack of market thickness, congestion, lack of market safety) to deal outcomes. We disaggregate the licensing process into three stages and find that, although lack of market thickness and deal failure are correlated in the first stage, they are not in the latter stages, underscoring the bilateral monopoly conditions under ...
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作者：Arrfelt, Mathias; Wiseman, Robert M.; McNamara, Gerry; Hult, G. Tomas M.
作者单位：Arizona State University; Arizona State University-Tempe; Michigan State University; Michigan State University's Broad College of Business
摘要：Research on the role of the corporate office in firm performance has focused on establishing how much performance variance can be attributed to a corporate effect, with little attention devoted to understanding how this influence occurs. In this study, we model capital allocation competency as a dynamic managerial capability and find that lower levels of allocation competency in the form of excess investment to business units with relatively poorer future prospects reduce business unit perform...
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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：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：Blettner, Daniela P.; He, Zi-Lin; Hu, Songcui; Bettis, Richard A.
作者单位：Simon Fraser University; Tilburg University; Tilburg University; University of Arizona; University of North Carolina; University of North Carolina Chapel Hill
摘要：Organizations learn and adapt their aspiration levels based on reference points (prior aspiration, prior performance, and prior performance of reference groups). The relative attention that organizations allocate to these reference points impacts organizational search and strategic decisions. However, very little research has explored this. Therefore, we build a recursive feedback model of learning from organizational experience that explains heterogeneity of attention allocation to the refere...
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作者：Dencker, John C.; Gruber, Marc
作者单位：Northeastern University; Swiss Federal Institutes of Technology Domain; Ecole Polytechnique Federale de Lausanne
摘要：Much prior research in entrepreneurship has focused on the role of the founder's knowledge in affecting new firm performance. Yet, little is known about how and why the entrepreneurial opportunity itself shapes outcomes in this arena. We begin filling in this critical gap in the literature by examining how the riskiness of the opportunity not only affects start-up performance, but also conditions the relevance of the founder's distinct knowledge endowments. Analyses of a sample of 451 new firm...
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作者：Ozer, Muammer; Zhang, Wen
作者单位：City University of Hong Kong; China Citic Bank
摘要：Addressing the inconsistent findings in the literature, we first distinguish the type of innovation and study the relationship of industrial clusters with exploitative and exploratory product innovation. Furthermore, we study how focal cluster firms' network ties with their suppliers and buyers in their clusters might moderate these relationships. Our empirical study showed that, while cluster membership enhanced firms' exploitative product innovation, it hindered their exploratory product inn...
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作者：Elfenbein, Daniel W.; Knott, Anne Marie
作者单位：Washington University (WUSTL)
摘要：Existing studies of exit delay typically focus on rational, behavioral, or organizational explanations in isolation. We integrate these different theoretical explanations, develop testable hypotheses for each, and examine them using the population of US banks between 1984 and 1997. Banks' exit behavior is not consistent with theories emphasizing the option value of avoiding reentry costs. Patterns of exit do, however, support models of rational delay under ability uncertainty. Controlling for ...
