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作者：Aggarwal, Vikas A.; Siggelkow, Nicolaj; Singh, Harbir
作者单位：INSEAD Business School; University of Pennsylvania
摘要：We examine the performance implications of selecting alternate modes of governance in interorganizational alliance relationships. While managers can choose from a range of modes to govern alliances, prior empirical evidence offers limited guidance on the performance impact of this choice. We use an agent-based simulation of interfirm decision making to complement empirical studies in this area. Our results point to a complex interplay between interdependencies, governance structures, and firms...
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作者：Hasan, Iftekhar; Kobeissi, Nada; Wang, Haizhi
作者单位：Bank of Finland; Long Island University; Long Island University Post; Illinois Institute of Technology; Rensselaer Polytechnic Institute
摘要：Researchers have long wondered why U.S. firms offer their equity in multiple global capital markets even though they have access to a deep domestic capital market. Based on a propensity score-matching sample of IPOs for U.S. firms from 1990 to 2003, this paper offers some potential answers. We find strong evidence that issuers who choose global equity offerings experience higher valuations at the IPO stage, as measured by Tobin's q. Our evidence also shows that global equity offerings serve as...
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作者：Graffin, Scott D.; Carpenter, Mason A.; Boivie, Steven
作者单位：University System of Georgia; University of Georgia; University of Wisconsin System; University of Wisconsin Madison; University of Arizona
摘要：We develop and test a novel theory about strategic noise with regard to CEO appointments. Strategic noise is an anticipatory and preemptive form of impression management. At the time it announces a new CEO, a board of directors seeks to manage stakeholder impressions by simultaneously releasing confounding information about other significant events. Several CEO and firm characteristics affect the likelihood that this will happen. Strategic noise is most likely when long-term CEOs have a wide p...
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作者：Gore, Angela K.; Matsunaga, Steve; Yeung, P. Eric
作者单位：University of Oregon; George Washington University; University System of Georgia; University of Georgia
摘要：We provide evidence that the presence of technical expertise in firm governance structure reduces reliance on contractual incentives to control the potential agency problem for executives whose responsibilities require specialized knowledge. Specifically, we find that firms with financial expertise in the form of a board finance committee, or a chief executive officer with a financial background, tend to use lower levels of incentive-based compensation for their chief financial officers. Our f...
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作者：Tian, Jie (Jenny); Haleblian, Jerayr (John); Rajagopalan, Nandini
作者单位：Chinese University of Hong Kong; University System of Georgia; University of Georgia
摘要：This study extends work on independent directors to examine the influence of their human capital and social capital on investor reactions to the board's CEO selection decision. We predict that human capital, as represented by the board's CEO experience and industry experience, and social capital, as represented by directors' co-working experience on the board and external directorship ties to other corporate boards, will influence the stock market reactions to new CEO appointments. In a sample...
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作者：Mitchell, J. Robert; Shepherd, Dean A.; Sharfman, Mark P.
作者单位：Western University (University of Western Ontario); University Western Ontario Hospital; Indiana University System; Indiana University Bloomington; IU Kelley School of Business; University of Oklahoma System; University of Oklahoma - Norman
摘要：While decision makers in organizations frequently make good decisions rooted in stable and consistent preferences, such consistency in outcomes is not always the case. In this study, we adopt a psychological perspective of judgment to investigate managers' erratic strategic decisions, which we define as a manager's inconsistent judgments that can shape the direction of the firm. In a study of 2,048 decisions made by 64 CEOs of technology firms, we examine how both metacognitive experience and ...
