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作者：Belenzon, Sharon; Shamshur, Anastasiya; Zarutskie, Rebecca
作者单位：Duke University; National Bureau of Economic Research; University of East Anglia; Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Czech Academy of Sciences; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：Research SummaryUsing detailed ownership and financial information from a large sample of owner-managed private firms in three Western European countries, this paper examines the relationship between CEO's age and firm's performance. Tracking firms over time, we find that as a CEO ages, the firm experiences lower investment, lower sales growth, and lower profitability, but also higher probability of survival, suggesting a trade-off between the managerial approaches of younger and older CEOs. T...
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作者：Hendricks, Bradley; Howell, Travis; Bingham, Christopher
作者单位：University of North Carolina; University of North Carolina Chapel Hill
摘要：Research SummaryAs firms mature, their founders are often replaced with seasoned executives. When founders are retained, the surrounding top management team (TMT) members are viewed as critical resources in helping compensate for the founder's managerial deficiencies. Surprisingly, however, little is known about how TMT members affect a founder-led firm's performance later in a firm's life. Using novel methods and a sample of over 2,000 firms, we address this gap. We find that although team st...
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作者：Yu, Wei; Minniti, Maria; Nason, Robert
作者单位：National University of Singapore; Syracuse University; Concordia University - Canada
摘要：Research Summary; Behavioral theory examines how the intensity of underperformance influences firms' strategic decisions; yet, it largely fails to consider the effect of underperformance duration. Drawing on behavioral theory and organizational learning, we argue that the length of time that a firm has been underperforming contributes to shaping firms' innovative search patterns. We test our theory merging COMPUSTAT and NBER patent data for 1,610 high-tech manufacturing companies between 1986 ...
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作者：Huy, Quy; Zott, Christoph
作者单位：INSEAD Business School; University of Navarra
摘要：Research Summary Our inductive field study identifies specific emotion regulation (ER) actions as affective underpinnings of dynamic managerial capabilities. ER refers to the management and modification of one's own and other people's emotions for a specific purpose. Our study shows how differences in managers' attention to ER influence the extent to which they can mobilize resources to pursue market opportunities. We show how their ER of the self helps them mobilize human capital resources by...
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作者：Hasan, Sharique; Koning, Rembrand
作者单位：Duke University; Harvard University
摘要：Research Summary We conduct a field experiment at an entrepreneurship bootcamp to investigate whether interaction with proximate peers shapes a nascent startup team's performance. We find that teams whose members lack prior ties to others at the bootcamp experience peer effects that influence the quality of their product prototypes. A 1-SD increase in the performance of proximate teams is related to a two-thirds SD improvement for a focal team. In contrast, we find that teams whose members hav...
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作者：Meier, Stephan; Stephenson, Matthew; Perkowski, Patryk
作者单位：Columbia University
摘要：Research Summary: Firms exhibit heterogeneity in size, productivity, and internal structure, and this is true even within the same industry. Our paper provides evidence of a link between an organization's culture-specifically the trust environment-and its level of specialization. We show experimentally that exogenously-imposed culture endogenously leads to variation in organizational form. We prime trust and demonstrate that the level of trust within an organization affects division of labor a...
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作者：Hill, Aaron D.; Recendes, Tessa; Ridge, Jason W.
作者单位：State University System of Florida; University of Florida; Oklahoma State University System; Oklahoma State University - Stillwater; University of Arkansas System; University of Arkansas Fayetteville
摘要：Research Summary; Integrating victimization into competitive dynamics and upper echelons theorizing, we develop and test theory articulating how rivals' perceptions of a CEO precipitate attacks on the CEO's firm. Rather than treating CEOs' characteristics solely as perpetrating action (a first-order effect, like research integrating upper echelons into competitive dynamics), we argue firms with CEOs possessing characteristics perceived as more submissive or more provocative are subject to more...
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作者：Quigley, Timothy J.; Hambrick, Donald C.; Misangyi, Vilmos F.; Rizzi, G. Alessandra
作者单位：University System of Georgia; University of Georgia; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：Research Summary Our paper sheds new light on the performance implications associated with insider versus outsider CEOs. We frame CEO selection as risk-taking, in which outsiders are relatively risky hires, with a greater tendency to generate extreme performance outcomes-either positive or negative-as compared to insiders. We base this expectation on two complementary theoretical perspectives: human capital and information asymmetry. We conduct multiple tests on large samples of CEO succession...
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作者：Flammer, Caroline; Kacperczyk, Aleksandra
作者单位：Boston University; University of London; London Business School
摘要：Research Summary: We examine whether companies respond to the threat of knowledge leakage by strategically increasing their engagement in corporate social responsibility (CSR). To obtain exogenous variation in the threat of knowledge leakage, we exploit a natural experiment provided by the rejection of the inevitable disclosure doctrine (IDD) by several U.S. states. Using a difference-in-differences methodology we find that, following the rejection of the IDD, companies significantly increase ...
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作者：Corsino, Marco; Mariani, Myriam; Torrisi, Salvatore
作者单位：University of Bologna; Bocconi University; Bocconi University; University of Milano-Bicocca; University of Milano-Bicocca
摘要：Research SummaryThis research addresses firms' use of external knowledge sources to develop patented inventions and explores the validity of patent citations as an indicator of interfirm knowledge flows. By comparing patent citations with primary data reported by the inventors, we uncover systematic measurement errors in patent citations and show that they depend on the firms' patent strategies (e.g., to reduce the risk of imitation or litigation), the source of knowledge employed (e.g., compe...
