-
作者：Stern, Ithai; Deng, Xin; Chen, Guoli; Gao, Huasheng
作者单位：INSEAD Business School; Nanyang Technological University; INSEAD Business School; Fudan University
摘要：Research Summary Prior literature on the relationship between the departure of strategic human capital (SHC) and firm performance is equivocal. One source of this ambiguity is the potential endogeneity: Is it the SHC departure that leads to poor firm performance, or is it poor firm performance leading to the SHC departure? We respond to repeated calls to address this issue by using the Fukushima nuclear accident in Japan as an exogenous event which triggered a butterfly effect that influenced ...
-
作者：Feldman, Emilie R.
作者单位：University of Pennsylvania
摘要：Research Summary This paper investigates the corporate parenting advantage, the extent to which corporate parents improve the performance of their subsidiaries. Despite the importance of this concept for corporate strategy, researchers have yet to quantify it empirically. I measure the corporate parenting advantage by comparing the performance of utilities that were legally classified into one of two types of holding companies: regulated holding companies, which faced limits on their ability t...
-
作者：Chen, Guoli; Meyer-Doyle, Philipp; Shi, Wei
作者单位：INSEAD Business School; University of Miami
摘要：Research summary: Prior research suggests that hedge fund activism can benefit targeted firms. We explore a potential negative side-effect of hedge fund activism: the unwanted loss of human capital in targeted firms. We find that firms targeted by hedge fund activists experience a greater departure of valuable employees compared with a matched sample of non-targeted firms. Further, the positive effect of hedge fund activism on firm performance is stronger when firms experience a lower departur...
-
作者：Kang, Yungu; Zhu, David H.; Zhang, Yan Anthea
作者单位：Arizona State University; Arizona State University-Tempe; Rice University
摘要：Research summary We build upon recent theories and studies about relational self to explain how a CEO's uncommon name may be related to a firm's strategic distinctiveness. Our theory explains why CEOs with uncommon names tend to develop a conception of being different from peers and accordingly pursue strategies that deviate from industry norms. We further suggest that the positive relationship between CEO name uncommonness and strategic distinctiveness is strengthened by the CEO's confidence,...
-
作者：Taeuscher, Karl; Rothe, Hannes
作者单位：University of Manchester; Alliance Manchester Business School; Free University of Berlin
摘要：Research summary Optimal distinctiveness theory highlights that firms need to balance opposing pressures for differentiation (to gain competitive benefits) and conformity (to gain legitimacy). Yet, extant optimal distinctiveness research rarely considers that the pressure for conformity can substantially vary between competing firms. Studying the positioning and growth performance of competing platforms in the market for Massive Open Online Courses (MOOCs), we find that platforms' access to hi...
-
作者：Felten, Edward; Raj, Manav; Seamans, Robert
作者单位：Princeton University; New York University
摘要：Research Summary We create and validate a new measure of an occupation's exposure to AI that we call the AI Occupational Exposure (AIOE). We use the AIOE to construct a measure of AI exposure at the industry level, which we call the AI Industry Exposure (AIIE) and a measure of AI exposure at the county level, which we call the AI Geographic Exposure (AIGE). We also describe several ways in which the AIOE can be used to create firm level measures of AI exposure. We validate the measures and des...
-
作者：Raj, Manav
作者单位：New York University
摘要：Research Summary Features of the institutional environment influence the performance of firms. In this research, I examine how one aspect of the institutional environment, competition between parties within legislatures, relates to young firm mortality. I argue that higher legislative competition provides legislators with more power to reward favored interests and thus contributes to a competitive environment that benefits well-connected incumbents and imposes negative consequences on young fi...
-
作者：Fudge Kamal, Darcy K.; Honore, Florence; Nistor, Cristina
作者单位：California State University System; California State University Sacramento; University of Wisconsin System; University of Wisconsin Madison; Chapman University System; Chapman University
摘要：Research Summary Network centrality is an important determinant of alliance performance. However, estimating how each alliance member's centrality affects alliance performance is challenging because the end market might value each partner's contribution differently. We solve this empirical question with a two-sided matching model that accounts for the partners' endogenous selection and estimates the effect of each side's centrality and input quality on performance. We implement the method in t...
-
作者：Burchard, Cord H.; Proelss, Juliane; Schaeffer, Utz; Schweizer, Denis
作者单位：WHU - Otto Beisheim School of Management; Concordia University - Canada
摘要：Research summary This study analyzes whether and how the disruption of top management turnovers can affect not only turnover firms but also their intra-industry rivals. It thus adds to the literature on both leader life cycles and competitive dynamics. Using a U.S. sample of 857 CEO turnovers, we find a period of relative stagnation for announcing companies following top management turnovers. We also find that intra-industry rivals can use this period to their advantage. Semi-structured interv...
-
作者：Jiang, Han; Jia, Nan; Bai, Tao; Bruton, Garry D.
作者单位：Tulane University; Tsinghua University; University of Southern California; University of Queensland; Texas Christian University; Jilin University; Sun Yat Sen University
摘要：Research Summary We develop a political path dependence model that integrates the network embeddedness perspective and the literature on corporate political strategy to understand how firms adapt their political connections when anticorruption efforts lead to the turnover of government officials. We posit that although firms that have close associations with ousted corrupt officials can benefit from both removing existing political connections (cleaning house) and developing new connections wi...
