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作者：Humphery-Jenner, Mark
作者单位：University of New South Wales Sydney
摘要：The desirability of antitakeover provisions (ATPs) is a contentious issue. ATPs might enable managerial empire building by insulating managers from disciplinary takeovers. However, some companies, such as hard-to-value (HTV) companies, might trade at a discount due to valuation difficulties, thereby exposing HTV companies to opportunistic takeovers and creating agency conflicts of managerial risk aversion. ATPs might ameliorate such managerial risk aversion by inhibiting opportunistic takeover...
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作者：Toh, Puay Khoon
作者单位：University of Minnesota System; University of Minnesota Twin Cities
摘要：Firms with different scope of technologies experience different firm growth. Understanding such heterogeneity requires knowing not only what drives technologies' scope but also why these drivers remain different across firms. I propose inventor specialization as a driver of technologies' scope: firms with more specialized inventors create narrower scope technologies. I also propose that these narrower scope technologies themselves in turn induce these firms' inventors to remain more specialize...
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作者：Leitterstorf, Max P.; Rau, Sabine B.
作者单位：WHU - Otto Beisheim School of Management
摘要：Socioemotional wealth (SEW), i.e., the noneconomic utility a family derives from its ownership position in a firm, is the primary reference point for family firms. Family firms are willing to sacrifice economic gains in order to preserve their noneconomic utility. Thus, we argue that family firms sacrifice IPO proceeds by choosing higher IPO underpricing than nonfamily firms if underpricing helps them protect their SEW. Our empirical results, based on a sample of 153 German IPOs, support our h...
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作者：Patel, Pankaj C.; Fernhaber, Stephanie A.; McDougall-Covin, Patricia P.; van der Have, Robert P.
作者单位：Ball State University; Butler University; Indiana University System; Indiana University Bloomington; IU Kelley School of Business; VTT Technical Research Center Finland; Aalto University
摘要：Being able to launch new products internationally is critical for technology-based ventures to recoup the high costs of R&D and to exploit their innovations fully. Despite the widely recognized importance of networks within the innovation development process, there appear to be contrasting viewpoints as to whether local or foreign network partners contribute more in the race to internationalize. Drawing on the theoretical underpinnings of comparative advantage, we propose and empirically confi...
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作者：Fremeth, Adam R.; Shaver, J. Myles
作者单位：Western University (University of Western Ontario); University Western Ontario Hospital; University of Minnesota System; University of Minnesota Twin Cities
摘要：It is well documented that firms respond to regulations in their home jurisdictions. We present hypotheses that firms also respond to regulations in jurisdictions where they do not operate. We examine renewable-power provision in the U.S. electric utility sector between 2001 and 2006, and find that firms adopt more renewable-power generation when their peers (i.e., firms in the same regulatory jurisdiction) face greater renewable-power standards in other jurisdictions. The underlying mechanism...
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作者：Hiatt, Shon R.; Sine, Wesley D.
作者单位：Harvard University; Cornell University
摘要：Many entrepreneurs in developing economies face unstable environments due to violence and civil unrest. Yet, we know very little about how environments characterized by high levels of political and civil violence affect new venture processes and survival. Moreover, it is unclear whether standard theories about organizational strategy, such as planning, hold true in such environments. We explore these issues using a sample of 730 new ventures in Colombia from 1997 to 2001. We find that politica...
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作者：Larraneta, Barbara; Zahra, Shaker A.; Galan Gonzalez, Jose Luis
作者单位：Universidad Pablo de Olavide; University of Minnesota System; University of Minnesota Twin Cities; University of Sevilla
摘要：New ventures (companies eight years or younger) face an important choice in attempting to achieve growth: Should they follow strategic simplicity by relying on a few similar competitive actions, or emphasize strategic variety by implementing multiple different competitive actions? Data from 140 new ventures in Spain suggest that new ventures benefit from pursuing strategic variety, especially when their industries are highly dynamic. Further, although new ventures in general gain from strategi...
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作者：Gu, Qian; Lu, Xiaohui
作者单位：University System of Georgia; Georgia State University; National University of Singapore
摘要：Extant research shows that resources are significant to a firm's choice of alliance formation. We focus on an important form of intangible resource-firm reputation-and examine how it affects a firm's propensity to form alliances. We propose an inverted U-shaped relationship between a firm's reputation and its likelihood of alliance formation, resulting from the opposing mechanisms of opportunity and need. We also examine how this relationship may vary across two contingencies: (1) foreign and ...
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作者：Lewis, Ben W.; Walls, Judith L.; Dowell, Glen W. S.
作者单位：Brigham Young University; Nanyang Technological University; Cornell University
摘要：We contribute to the literature on firms' responses to institutional pressures and environmental information disclosure. We hypothesize that CEO characteristics such as education and tenure will influence firms' likelihood to voluntarily disclose environmental information. We test our hypotheses by examining firms' responses to the Carbon Disclosure Project (CDP) and find that firms led by newly appointed CEOs and CEOs with MBA degrees are more likely to respond to the CDP, while those led by ...
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作者：Baum, Joel A. C.; Cowan, Robin; Jonard, Nicolas
作者单位：University of Toronto; Universites de Strasbourg Etablissements Associes; Universite de Strasbourg; Maastricht University; University of Luxembourg
摘要：Strategic prescriptions drawn from pooled cross-sectional evidence of firm performance effects are not necessarily warranted. This is because firm characteristics can influence both the mean and variance of firm performance. Strategic inferences are warranted if empirically observed effects reflect increases in mean firm performance. If they reflect increases in firm performance variance, however, such inferences are warranted only if the increased odds of achieving high performance compensate...
