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作者：Chatterji, Aaron K.; Toffel, Michael W.
作者单位：Harvard University; Duke University
摘要：While many rating systems seek to help buyers overcome information asymmetries when making purchasing decisions, we investigate how these ratings also influence the companies being rated. We hypothesize that ratings are particularly likely to spur responses from firms that receive poor ratings, and especially those that face lower-cost opportunities to improve or that anticipate greater benefits from doing do. We test our hypotheses in the context of corporate environmental ratings that guide ...
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作者：Dushnitsky, Gary; Shapira, Zur
作者单位：University of London; London Business School; New York University
摘要：This paper investigates the effect of compensation of corporate personnel on their investment in new technologies. We focus on a specific corporate activity, namely corporate venture capital (CVC), describing minority equity investment by established-firms in entrepreneurial ventures. The setting offers an opportunity to compare corporate investors to investment experts, the independent venture capitalists (IVCs). On average, we observe a performance gap between corporate investors and their i...
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作者：Qian, Gongming; Khoury, Theodore A.; Peng, Mike W.; Qian, Zhengming
作者单位：Oregon State University; Chinese University of Hong Kong; University of Texas System; University of Texas Dallas; Xiamen University
摘要：Engaging the debate regarding the appropriate level of geographic diversification for multinational enterprises (MNEs), we examine a critical, yet unresolved, question: How is performance impacted by the MNE's level of intra- and inter-regional diversification versus the total level of geographic diversification? Using data from 123 U.S.-based MNEs over a seven-year period and leveraging both sales-based and subsidiary-based measures for diversification, we find that performance increases at a...
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作者：Zhang, Yan; Li, Haiyang; Li, Yu; Zhou, Li-An
作者单位：Rice University; University of International Business & Economics; Peking University
摘要：Prior literature on foreign direct investment (FDI) spillovers has mainly focused on how the presence of FDI affects the productivity of domestic firms. In this study, we advance the literature by examining the effect of the diversity of FDI country origins on the productivity of domestic firms. We propose that the diversity of FDI country origins can facilitate FDI spillovers by increasing the variety of technologies and management practices brought by foreign firms, to which domestic firms a...
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作者：Tuggle, Christopher S.; Sirmon, David G.; Reutzel, Christopher R.; Bierman, Leonard
作者单位：University of Missouri System; University of Missouri Columbia; Texas A&M University System; Texas A&M University College Station; Mays Business School; Utah System of Higher Education; Utah State University
摘要：Boards of directors' attention to monitoring represents an understudied topic in corporate governance. By analyzing hundreds of board meeting transcripts, we find that board members do not maintain constant levels of attention toward monitoring, but instead selectively allocate attention to their monitoring function. Drawing from the attention-based view, prospect theory, and the literature on power, we find that deviation from prior performance and CEO duality affect this allocation. Specific...
