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作者：Seo, Haram; Luo, Jiao; Kaul, Aseem
作者单位：Texas A&M University System; Texas A&M University College Station; Mays Business School; University of Minnesota System; University of Minnesota Twin Cities
摘要：Research Summary We examine the returns to specialization versus variety in corporate philanthropy. Acknowledging the theoretical rationale for both a specialist and a generalist approach to philanthropy, we took a question-driven, abductive approach, and found a robust positive association between philanthropic variety and firm profitability for donations by large US public corporations from 2003 to 2011. This association held for variety across causes but not within causes, for nonlocal givi...
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作者：O'Sullivan, Don; Zolotoy, Leon; Fan, Qingliang
作者单位：University of Melbourne; Chinese University of Hong Kong
摘要：Research Summary Despite an extensive upper echelons literature on how CEOs' prior experiences influence firm behavior, we know little about the influence of traumatic experiences early in CEOs' lives. Drawing on post-traumatic growth theory, we describe how traumatic experiences early in CEOs' lives influence corporate social performance. Our theory points to the asymmetric impact of CEO early-life trauma on responsible and irresponsible corporate social performance and to two boundary condit...
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作者：Gentry, Richard J.; Harrison, Joseph S.; Quigley, Timothy J.; Boivie, Steven
作者单位：University of Mississippi; Texas Christian University; University System of Georgia; University of Georgia; Texas A&M University System; Texas A&M University College Station
摘要：Research Summary We introduce an open-source dataset documenting the reasons for CEO departure in S&P 1500 firms from 2000 through 2018. In our dataset, we code for various forms of voluntary and involuntary departure. We compare our dataset to three published datasets in the CEO succession literature to assess both the qualitative and quantitative differences among them and to explore how these differences impact empirical findings associated with the performance-CEO dismissal relationship. T...
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作者：Oetzel, Jennifer; Oh, Chang Hoon
作者单位：American University; University of Kansas
摘要：Research Summary Research emphasizes the value of disaster preparation and the importance of experience in doing so, yet most companies fail to prepare. The antecedents of preparation are poorly understood, in part, because experience by itself only partly explains the story. To address these concerns, we developed two unique surveys: one from an international survey in 18 disaster-prone countries and another from a U.S. survey in New York City and Miami. We find that organizational experience...
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作者：Hegde, Deepak; Tumlinson, Justin
作者单位：New York University; Loughborough University
摘要：Research Summary Why do individuals become entrepreneurs? Why do some succeed? We propose two theories in which information frictions play a central role in answering these questions. Empirical analysis of longitudinal samples from the United States and the United Kingdom reveals the following patterns: (a) entrepreneurs have higher cognitive ability than employees with comparable education, (b) employees have better education than equally able entrepreneurs, and (c) entrepreneurs' earnings ar...
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作者：Sharapov, Dmitry; Kattuman, Paul; Rodriguez, Diego; Velazquez, F. Javier
作者单位：Imperial College London; University of Cambridge; Complutense University of Madrid
摘要：Research Summary Variance decomposition methods allow strategy scholars to identify key sources of heterogeneity in firm performance. However, most extant approaches produce estimates that depend on the order in which sources are considered, the ways they are nested, and which sources are treated as fixed or random effects. In this paper, we propose the use of an axiomatically justified, unique, and effective solution to this limitation: the Shapley Value approach. We show its effectiveness co...
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作者：Zhang, Yan Anthea; Chen, Zhuo Emma; Wang, Yuandi
作者单位：Rice University; American University; Sichuan University
摘要：Research Summary Patent collateral is an important aspect in the debt financing of firms. We argue that in accepting patent collaterals, lenders need to balance between risk of obsolescence and risk of unverified external inventions, both of which are related to patents' external technology linkage. Patents linked to old external inventions are subject to risk of obsolescence while patents linked to too new external inventions are subject to risk of unverified external inventions, and therefor...
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作者：Park, Sun Hyun; Chung, Sung Hun (Brian); Rajagopalan, Nandini
作者单位：Seoul National University (SNU); Rice University; University of Southern California
摘要：Research Summary Chief executive officers (CEOs) often make internal attributions of positive firm performance outcomes by highlighting their strategic choices as the cause of favorable performance results. We investigate the dynamic consequences of CEO internal performance attributions along a CEO's tenure. CEO internal attributions create an expectation that favorable firm performance will continue under the CEO's leadership. When firm performance turns negative, however, financial analysts ...
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作者：Morandi Stagni, Raffaele; Fosfuri, Andrea; Santalo, Juan
作者单位：Universidad Carlos III de Madrid; Bocconi University; IE University
摘要：Research Summary Do firms respond to tougher competition by searching for completely new technological solutions (exploration), or do they work to defend their position by improving current technologies (exploitation)? Considering the different times to fruition for exploration versus exploitation, in the presence of heightened competition, we argue that firms might not be able to wait for the benefits of technological exploration to materialize. With a panel data set of U.S. manufacturing fir...
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作者：Chen, Guoli; Chittoor, Raveendra; Vissa, Balagopal
作者单位：INSEAD Business School; University of Victoria
摘要：Research Summary: Using a principal-principal agency theory lens, we examine corporate governance and compensation design in family-owned businesses. We conceptualize how CEO pay and pay-performance sensitivity is influenced by whether the CEO is a professional or drawn from the controlling family (family CEO). Data from a sample of 277 publicly listed Indian family firms during 2004-2013 support our argument that family CEOs get paid more than professional CEOs. This pattern is stronger in su...
