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作者：Raithel, Sascha; Hock, Stefan J.
作者单位：Free University of Berlin; University of Connecticut
摘要：Research Summary Prior crisis-response literature outlines zones of conformity (i.e., response meets stakeholder expectations), underconformity (i.e., response falls short of expectations), and overconformity (i.e., response exceeds expectations). We utilize a mixed-method approach to empirically test the impact of different response strategies on customers (Study 1: experiment) and investors (Study 2: event study). We not only find empirical support that a conforming strategy outperforms both...
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作者：Giarratana, Marco S.; Pasquini, Martina; Santalo, Juan
作者单位：IE University; IE University
摘要：Research Summary This article analyzes the relationship between sales growth and variance for diversified firms. Distinguishing product niches linked by scale free versus non-scale free resources, this study predicts that the more a firm diversifies leveraging on a non-scale free resource, the more likely its sales growth and variance are positively correlated. However, this relationship is negatively moderated by the presence of a scale-free resource such that the presence of scale-free resou...
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作者：Koo, Wesley W.; Eesley, Charles E.
作者单位：INSEAD Business School; Stanford University
摘要：Research Summary Platform companies use design changes to govern their participants. The success of a design change depends on participants' responses, which are influenced by their local environments. Our study focuses on an important aspect of the local environment-rural versus urban. Using data from a leading e-commerce platform, we find that relative to urban sellers, rural sellers were particularly poor at adjusting to a major design change, resulting in a persistent performance gap. We a...
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作者：Jones, Stephen L.; Leiponen, Aija; Vasudeva, Gurneeta
作者单位：University of Washington; University of Washington Bothell; Cornell University; University of Minnesota System; University of Minnesota Twin Cities
摘要：Research Summary How does interfirm cooperation in innovation ecosystems evolve in the face of conflict? We theorize that conflict propels firms to reconfigure cooperative relationships while maintaining and even increasing cooperation with aggressors because cooperation is the primary mechanism for value creation in such ecosystems. To empirically test our arguments, we study patent litigation and subsequent cooperation between mobile telecommunications firms within the 3GPP standards develop...
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作者：Flammer, Caroline; Toffel, Michael W.; Viswanathan, Kala
作者单位：Boston University; Harvard University; Harvard University
摘要：Research Summary This article examines whether-in the absence of mandated disclosure requirements-shareholder activism can elicit greater disclosure of firms' exposure to climate change risks. We find that environmental shareholder activism increases the voluntary disclosure of climate change risks, especially if initiated by institutional investors, and even more so if initiated by long-term institutional investors. We also find that companies that voluntarily disclose climate change risks fo...
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作者：Minefee, Ishva; McDonnell, Mary-Hunter; Werner, Timothy
作者单位：Iowa State University; University of Pennsylvania; University of Texas System; University of Texas Austin
摘要：Research Summary: Exploiting a whistleblower's leak of the American Legislative Exchange Council's (ALEC) corporate sponsors, we quasi-replicate and extend Werner's (2017) event study of investor reaction to covert corporate political activity (CPA). Werner found that investors reacted positively to the accidental disclosure of covert ties to the Republican Governors Association. In contrast, when we apply the same research design to the ALEC leak, we find that, on average, firms tied to ALEC ...
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作者：Campbell, Robert J.; Busenbark, John R.; Graffin, Scott D.; Boivie, Steven
作者单位：University of Nebraska System; University of Nebraska Lincoln; University of Notre Dame; University System of Georgia; University of Georgia; Texas A&M University System; Texas A&M University College Station
摘要：Research Summary: Director retention is a common practice during acquisitions, whereby the acquiring firm adds at least one director from the target onto its board. Despite the regularity of the phenomenon, little is understood about the post-acquisition financial implications of director retention. In this exploratory study, we investigate the financial impact (via long-term investor value appropriation) of director retention in a sample of acquisitions among publicly traded firms. Our empiri...
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作者：Belderbos, Rene; Park, Jinhyuck (Joseph); Carree, Martin
作者单位：KU Leuven; Maastricht University; Maastricht University; NEOMA Business School
摘要：Research Summary The growth of emerging economies has attracted R&D investments by multinational enterprises, but firms have struggled to protect their knowledge assets in these environments with weak intellectual property rights protection. Knowledge misappropriation may be reduced if firms use cross-unit R&D teams to strengthen intra-firm interdependencies and control. We examine the relationship between such internal linkage strategies, foreign R&D investments, and firm market valuation in ...
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作者：Zheng, Yanfeng; Wang, Qinyu (Ryan)
作者单位：University of Hong Kong
摘要：Research summary Building on the search-based view of innovation, we develop a framework regarding how Google guides innovative search behavior. We exploit an exogenous shock, China's unexpected blockade of Google in 2014, and adopt a difference-in-differences approach with a matched sample of patents from China and nearby regions to test our predictions. Our analyses show that the blockade negatively affected inventors in China to search distantly in technological and cognitive spaces compare...
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作者：Christensen, Michael; Knudsen, Thorbjorn; Nash, Ulrik W.; Stieglitz, Nils
作者单位：University of Southern Denmark; Frankfurt School Finance & Management
摘要：Research Summary In this study, we offer a novel approach, establishing how firm conduct and competitive interactions among firms jointly provide microfoundations of risk-return relations. Firms influence each other, and the way they reciprocate these influences to cause mutual adjustments is a core feature of industry dynamics. This core feature fundamentally influences risk-return relations. Based on our approach, we develop models that allow us to trace how, at the microlevel, firm conduct ...
