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作者：Castellaneta, Francesco; Conti, Raffaele; Kacperczyk, Aleksandra
作者单位：SKEMA Business School; Universite Cote d'Azur; Universidade Catolica Portuguesa; University of London; London Business School
摘要：We propose that institutions that reduce barriers to entrepreneurship lead to intended consequences, increasing entry rate among individuals facing obstacles to entrepreneurship, such as women. But these regulations also have unintended consequences, decreasing the value appropriated by women who stay in paid employment, as these women lose support of their departing peers. Using an exogenous reduction in entry barriers in Portugal between 2005 and 2009, we find that women launch new ventures ...
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作者：Jia, Yonghong; Gao, Xinghua; Julian, Scott
作者单位：Iowa State University; Washington State University; Wayne State University
摘要：Research Summary To examine whether firms use corporate social responsibility (CSR) to insure against stock price risk, we exploit an exogenous shock in stock price risk associated with Regulation SHO whereby the SEC randomly selected pilot firms for which the uptick restriction on short sales no longer applied. A difference-in-differences test reveals that pilot firms increased CSR more than nonpilot firms and that in particular they reduced CSR concerns and increased CSR that impacts stakeho...
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作者：Lovallo, Dan; Brown, Alexander L.; Teece, David J.; Bardolet, David
作者单位：University of Sydney; Texas A&M University System; Texas A&M University College Station; University of California System; University of California Berkeley; Bocconi University
摘要：Research summary We examine the correlations between financial resource allocation flow between business segments and two measures of overall firm financial performance using a sample of Compustat firms. Our analysis finds a consistent inverted U-shape (or alternatively, V-shape) relationship between those measures and firm profitability. Interestingly, nearly all the data lie on the upward sloping part of the curve. Taken together, these results support the notion that flows of financial capi...
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作者：Pisani, Niccolo; Garcia-Bernardo, Javier; Heemskerk, Eelke
作者单位：University of Amsterdam; University of Amsterdam
摘要：Research Summary Does it pay to be a multinational? Despite decades of empirical research, we still do not know. We undertake a large-sample, cross-national replication of Lu and Beamish (2004) and Berry and Kaul's (2016) works to examine whether the multinationality-performance relationship is S-shaped in a 2009-2016 panel of 889,865 firm-year observations. Using a two-stage least squares fixed-effects model that accounts for endogeneity on a subsample of 32,835 multinationals from 64 countri...
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作者：Zhu, Qi; Hu, Songcui; Shen, Wei
作者单位：Hong Kong Polytechnic University; University of Arizona; Arizona State University; Arizona State University-Tempe
摘要：Research Summary This study draws attention to the impact of prior board experiences on the variation in new insider CEOs' degree of insiderness in terms of commitment to the status quo and their propensity to make strategic change. We theorize and find that new insider CEOs' prior board experience at the focal firm has a negative effect on strategic change, whereas their prior board experience at other firms has a positive effect. Moreover, the positive effect of prior board experience at oth...
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作者：Surroca, Jordi A.; Aguilera, Ruth V.; Desender, Kurt; Tribo, Josep A.
作者单位：University of Groningen; Northeastern University; Universitat Ramon Llull; Escuela Superior de Administracion y Direccion de Empresas (ESADE); Universidad Carlos III de Madrid; Stevens Institute of Technology
摘要：Research summary Building on the comparative capitalism's notion of institutional complementarities, we examine whether firms' simultaneous adoption of managerial entrenchment provisions (MEPs) and corporate social responsibility (CSR) reinforces or undercuts one another in influencing firm financial performance. We propose that the financial impact of such configurations is contingent on the country's institutional setting. In Liberal Market Economies (LMEs), where firms face strong pressures...
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作者：Kiss, Andreea N.; Libaers, Dirk; Barr, Pamela S.; Wang, Tang; Zachary, Miles A.
作者单位：Lehigh University; State University System of Florida; University of South Florida; University of Aberdeen; University System of Georgia; Georgia State University; State University System of Florida; University of Central Florida; Auburn University System; Auburn University
摘要：Research summary Although prior research highlights the organizational and cognitive challenges associated with achieving organizational ambidexterity, there has been comparatively less empirical attention focused on the cognitive characteristics that may differentiate top managers of firms that achieve ambidexterity. We build on emerging research and identify cognitive flexibility as a cognitive characteristic with particular relevance to the challenges associated with ambidexterity and sugge...
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作者：He, Vivianna Fang; Puranam, Phanish; Shrestha, Yash Raj; von Krogh, Georg
作者单位：Swiss Federal Institutes of Technology Domain; ETH Zurich; INSEAD Business School
摘要：Research summary Resolving governance disputes is of vital importance for communities. Gathering data from GitHub communities, we employ hybrid inductive methods to study discussions around initiation and change of software licenses-a fundamental and potentially contentious governance issue. First, we apply machine learning algorithms toidentifyrobust patterns in data: resolution is more likely in larger discussion groups and in projects without a license compared to those with a license. Seco...
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作者：Li, Yu; Zhang, Yan A.; Shi, Wei
作者单位：University of International Business & Economics; Rice University; University of Miami
摘要：Research Summary While geographic and cultural distances deter firms' international expansion, they do so via different mechanisms, such that firms with advantages in overcoming one-dimension may face disadvantages in overcoming the other. Larger, older, and state-owned firms have better access to resources in their home countries than smaller, younger, and non-state-owned firms, and thus are less concerned about the high operating costs associated with larger geographic distances. However, th...
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作者：DesJardine, Mark R.; Durand, Rodolphe
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Hautes Etudes Commerciales (HEC) Paris
摘要：Research Summary We investigate how hedge fund activism affects firms' financial and social performance. So far, research has examined either the impact of hedge fund activism on firms' short-term financial performance, or how other types of shareholder activism affect firms' social performance. Crossing these boundaries with data on 1,324 activist hedge fund campaigns between 2000 and 2016, we find a clear trade-off associated with hedge fund activism: benefits are shareholder-centric and sho...
