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最新文章

• Institutional investors and firm innovation: A test of competing hypotheses AI翻译
  作者：Kochhar, R; David, P
  作者单位：Texas A&M University System; Texas A&M University College Station
  摘要：There is much debate about the effect of institutional investors on firm innovation. This paper tests three competing hypotheses by including differences among institutions in their ability to influence firms. Results using an outcome-based measure of innovation indicate that institutions do not foster short-term orientation; instead they may influence firms to increase innovation.
• Predicted change in operational synergy and post-acquisition performance of acquired businesses AI翻译
  作者：Brush, TH
  摘要：The 1980s acquisitions are widely believed to have unwound the conglomerate boom of the 1960s through horizontal mergers, yet alternative forms of unwinding have not been examined. This study tests the explanation that changes in the opportunity to share resources and activities among businesses of the firm may have contributed to post-acquisition performance improvements in the recent acquisition wave. After estimating the sources of competitive performance that are due to these changes withi...
• CEO duality and firm performance: What's the fuss? AI翻译
  作者：Baliga, BR; Moyer, RC; Rao, RS
  作者单位：Texas Tech University System; Texas Tech University
  摘要：Rising shareholder activism following poor corporate performance and a subsequent drop in shareholder value at many major U.S. corporations had rekindled interest in duality and corporate governance. Despite limited empirical evidence, duality (chairman of the board and CEO are the same individual) has been blamed, in many cases, for the poor performance, and failure of firms to adapt to a changing environment. In examining the relationship between duality and firm performance, this study cons...
• The governance and control of voluntary corporate spin-offs AI翻译
  作者：Seward, JK; Walsh, JP
  作者单位：University of Michigan System; University of Michigan
  摘要：We investigate the role that a voluntary corporate restructuring can play in the design of efficient internal corporate control mechanisms. To this end, we examine the post-restructuring internal control practices in 78 voluntary corporate spin-offs that were completed between 1972 and 1987. We find that the selection of the new CEOs, the design of their compensation contracts, and the staffing of the boards of directors and their compensation committees in the spun-off firms can be seen as ex...