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作者：Steinbach, Adam L.; Holcomb, Tim R.; Holmes, R. Michael, Jr.; Devers, Cynthia E.; Cannella, Albert A., Jr.
作者单位：University of South Carolina System; University of South Carolina Columbia; University System of Ohio; Miami University; University System of Ohio; Miami University; State University System of Florida; Florida State University; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：Research summary: We develop and test a contingency theory of the influence of top management team (TMT) performance-contingent incentives on manager-shareholder interest alignment. Our results support our theory by showing that although TMTs engage in significantly higher levels of acquisition investment when their average incentive levels increase, investors' responses to those large investments are generally negative. More importantly, however, we further find that within-TMT incentive hete...
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作者：Kuusela, Pasi; Keil, Thomas; Maula, Markku
作者单位：University of Zurich; Aalto University
摘要：Research summary: Prior literature drawing on the behavioral theory of the firm has not considered how resource constraints impact the direction of organizational change in response to performance shortfalls relative to aspirations. We argue that decreasing financial resources resulting from substantial performance shortfalls and the absence or availability of slack resources together affect the emphasis on different types of organizational change in response to performance shortfalls. Using d...
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作者：Connelly, Brian L.; Shi, Wei; Zyung, Jinyong
作者单位：Auburn University System; Auburn University; Indiana University System; IU Kelley School of Business; Indiana University Indianapolis; Rice University
摘要：Research summary: We examine whether top managers engage in misconduct, such as illegal insider trading, illegal stock option backdating, bribery, and financial manipulation, in response to the presence, or absence, of governance provisions that impose constitutional constraints on shareholder power. Within the agency framework, shareholders typically oppose governance provisions that limit their power because those provisions could undermine shareholder influence and increase agency costs. Ho...
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作者：Girod, Stephane J. G.; Whittington, Richard
作者单位：University of Reading; International Institute for Management Development (IMD); University of Oxford
摘要：Research summary: Reorganization has been proposed as a key dynamic capability. This study compares the performance outcomes of two forms of reorganization, differing in their pervasiveness: organizational restructuring and organizational reconfiguration. Our dynamic panel data analysis of large U.S. corporations between 1985 and 2004 finds contrasting performance outcomes for these two forms of reorganization: in general, the more pervasive restructuring is associated with positive performanc...
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作者：Gartenberg, Claudine; Pierce, Lamar
作者单位：New York University; Washington University (WUSTL)
摘要：Research summary: This study uses the 2008 mortgage crisis to demonstrate how the relationship between vertical integration and performance crucially depends on corporate governance. Prior research has argued that the vertical integration of mortgage origination and securitization aligned divisional incentives and improved lending quality. We show that vertical integration improved loan performance only in those firms with strong corporate governance and that this performance-integration relat...
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作者：Grigoriou, Konstantinos; Rothaermel, Frank T.
作者单位：State University System of Florida; Florida International University; University System of Georgia; Georgia Institute of Technology
摘要：Research summary: When faced with a new technological paradigm, incumbent firms can opt for internal development and/or external sourcing to obtain the necessary new knowledge. We explain how the effectiveness of external knowledge sourcing depends on the properties of internal knowledge production. We apply a social network lens to delineate interpersonal, intra-firm knowledge networks and capture the emergence of two important firm-level properties: the incumbent's internal potential for kno...
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作者：Busenbark, John R.; Lange, Donald; Certo, S. Trevis
作者单位：University System of Georgia; University of Georgia; Arizona State University; Arizona State University-Tempe
摘要：Research summary: Managers can disclose information to security analysts as a form of impression management, but doing so is problematic because competitors can use that same information at the expense of the firm. We identify an impression management technique we call foreshadowing, which refers to hinting about future potential strategic activity. Foreshadowing provides information of value to analysts that can influence their evaluations of a firm, but not so much information as to put the ...
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作者：Brahm, Francisco; Tarzijan, Jorge; Singer, Marcos
作者单位：Pontificia Universidad Catolica de Chile; University of Cambridge
摘要：Based on a detailed database of a beverages producer-distributor that expanded its product variety by leveraging its logistic network, we show that product diversification generates economies of scope and also higher operational costs. The result is an inverted-U relationship between variety and productivity: When the firm offers few additional categories, productivity grows, but as the number of categories rises, the costs of executing the operational routines increase rapidly and productivit...
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作者：Shan, Liwei; Fu, Shihe; Zheng, Lu
作者单位：Southwestern University of Finance & Economics - China; Tsinghua University
摘要：Research summary: Previous studies have mixed findings on the relation between corporate socially responsible policies and firm performance. This paper focuses on a specific type of corporate social responsibility-corporate sexual equality, measuring how a firm treats its lesbian, gay, bisexual, and transgender (LGBT) employees, consumers, and investors-and examines whether and how it relates to firm performance. Using a longitudinal dataset of public firms in the U.S. during the period of 200...
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作者：Cuypers, Ilya R. P.; Ertug, Gokhan; Reuer, Jeffrey J.; Bensaou, Ben
作者单位：Singapore Management University; University of Colorado System; University of Colorado Boulder; INSEAD Business School
摘要：Relatively little attention has been paid to boards in international joint ventures (IJVs), and the composition of these boards in particular. We examine the determinants of foreign partners' representation on IJV boards in order to advance our knowledge of this facet of IJV governance. We argue that a foreign partner's representation on the IJV board is related to its equity contribution. However, we hypothesize that this relationship is moderated by IJV and host country characteristics that ...
