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35
Institutions Behind Family Ownership and Control in Large Firms
, 2010
"... There is a major debate regarding the role of concentrated family ownership and control in large firms, with three positions suggesting that such concentration is (1) good, (2) bad, or (3) irrelevant for firm value. Why are there such differences? We theorize that the impact of family ownership and ..."
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Cited by 22 (8 self)
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There is a major debate regarding the role of concentrated family ownership and control in large firms, with three positions suggesting that such concentration is (1) good, (2) bad, or (3) irrelevant for firm value. Why are there such differences? We theorize that the impact of family ownership and control on firm value is associated with the level of shareholder protection embodied in legal and regulatory institutions of a country. Data from 634 publicly listed large family firms in seven Asian countries (Hong Kong, Indonesia,
The export orientation and export performance of high-technology SMEs in emerging markets: The effects of knowledge transfer by returnee entrepreneurs
- Journal of International Business Studies
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Why « good » firms do bad things : The effects of high aspirations, high expectations, and prominence on the incidence of corporate illegality
- Academy of Management Journal
, 2010
"... Recent high-profile corporate scandals involving prominent, high-performing firms cast doubt on assertions that the costs of getting caught decrease the likelihood such high performers will act illegally. We explain this paradox by using theories of loss aversion and hubris to examine a sample of S& ..."
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Cited by 16 (1 self)
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Recent high-profile corporate scandals involving prominent, high-performing firms cast doubt on assertions that the costs of getting caught decrease the likelihood such high performers will act illegally. We explain this paradox by using theories of loss aversion and hubris to examine a sample of S&P 500 manufacturers. Results demon-strate that both performance above internal aspirations and performance above exter-nal expectations increase the likelihood of illegal activities. The sample firms ’ prom-inence enhanced the effects of performance above expectations on the likelihood of illegal actions. Prominent and less prominent firms displayed different patterns of behavior when their performance failed to meet aspirations. Research in a variety of disciplines and drawing on a variety of theoretical perspectives has long suggested that good performance provides a variety of benefits and opportunities for organizations that not only decrease the need to consider engaging in unethical, illegitimate, or illegal activities, but also provide strong disincentives for doing so (e.g.,
The Impact of Early Imprinting on Evolution of New Venture Networks
"... The impact of early imprinting on the evolution of new venture networks Hana Milanova, and Stephanie A. Fernhaberb, Given the argued importance of networks to new ventures, this paper is intended to fill a noted gap in the literature pertaining to the factors that influence the evolution of new vent ..."
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Cited by 6 (0 self)
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The impact of early imprinting on the evolution of new venture networks Hana Milanova, and Stephanie A. Fernhaberb, Given the argued importance of networks to new ventures, this paper is intended to fill a noted gap in the literature pertaining to the factors that influence the evolution of new ventures' alliance networks. Drawing on the imprinting literature, we propose that one has to look beyond the first partner per se, and instead focus on the extant relationships the initial partner has with other firms. More specifically, we argue and find that the network size and centrality of a new venture's initial alliance partner influence the subsequent size of the new venture's network.
Director human capital, information processing demands, and board effectiveness
- Journal of Management
, 2014
"... Research on human capital as a source of competitive advantage has focused largely on firm employees. In this article, we argue that outside directors ’ general human capital can also be a source of competitive advantage. Firm performance is likely to benefit from directors ’ human capital—that is, ..."
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Research on human capital as a source of competitive advantage has focused largely on firm employees. In this article, we argue that outside directors ’ general human capital can also be a source of competitive advantage. Firm performance is likely to benefit from directors ’ human capital—that is, their prior experience and education—because such human capital is likely to make them more effective at monitoring management and providing advice. Drawing on insights from research on individuals ’ cognitive limitations, we further argue that the extent to which the firm is able to benefit from this human capital can be severely limited by the demands for infor-mation processing that directors face from their other board positions. Consequently, we find that the benefit of directors ’ human capital is contingent upon the information processing load placed upon them from their other board appointments. We find support for our hypotheses using data on over 5,700 directors from 650 firms sampled from the Fortune 1000. This study extends the nascent literature on board human capital by showing that in addition to specific expertise in relevant areas, directors ’ general human capital can also help firms create competitive advan-tage. The theory developed in this article also contributes to the literature on strategic human capital by incorporating the concept of information processing demands, suggesting that not only
Ownership Structure and CEO Compensation: Implications for the Choice of Foreign Market Entry Modes
- Journal of In- ternational Business Studies
"... modes ..."
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Board Leadership and Strategy Involvement in Small Firms: A Team Production Approach." Corporate Governance: An International Review 19(4): 368383
, 2011
"... Manuscript Type: Empirical Research Question/Issue: Boards ’ involvement in strategy is generally seen to be an indicator of board effectiveness, but less is known about the relationship between board leadership and strategy involvement, especially in small firms. This study analyzes board leadershi ..."
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Manuscript Type: Empirical Research Question/Issue: Boards ’ involvement in strategy is generally seen to be an indicator of board effectiveness, but less is known about the relationship between board leadership and strategy involvement, especially in small firms. This study analyzes board leadership from a team production perspective as an antecedent to board strategy involvement in small firms. Research Findings/Insights: Using survey data from 140 small firms in Norway collected in two different time periods, we demonstrate that leadership behaviors and processes have a greater impact on boards ’ strategy involvement than structural leadership characteristics alone. Theoretical/Academic Implications: The study provides empirical support for a team production perspective on boards. Our data show that (1) board members ’ knowledge, board development, and board chairperson leadership efficacy positively influence boards ’ strategy involvement, and (2) chairperson leadership efficacy enhances boards ’ strategy involvement under structural conditions of combined CEO/chairperson leadership and changes in board composition. These findings expand the traditional understanding of structural leadership conditions. Practitioner/Policy Implications: The study offers insights to small business owners and managers on how to improve the
CEO Social Capital and Entrepreneurial Orientation of the Firm: Bonding and Bridging Effects
, 1957
"... Prior studies demonstrate the role of various facets of CEOs ’ individual characteristics in shap-ing a firm’s entrepreneurial orientation (EO). We complement this line of research by theorizing and testing the impact of CEOs ’ social capital on EO. From an original, multisource survey data set of 1 ..."
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Prior studies demonstrate the role of various facets of CEOs ’ individual characteristics in shap-ing a firm’s entrepreneurial orientation (EO). We complement this line of research by theorizing and testing the impact of CEOs ’ social capital on EO. From an original, multisource survey data set of 122 Chinese technology firms, we find that a CEO’s bonding social capital with organiza-tional members from various functional units has an inverted U-shaped relationship with firm EO, while the CEO’s bridging social capital with the firm’s diverse set of external stakeholders has a positive association with EO. In addition, we find that the relationship between CEO bridg-ing social capital and EO becomes stronger as the firm’s environmental instability increases.
Corporate Venture Capital and the International Intensity of Portfolio Companies
, 2007
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Foreign Markets Entry Mode Decision for Italian Small and Medium Sized Enterprises
- International Journal of Business and Management
"... Using a resource-based view model, this paper examines the main factors influencing Small and Medium-Sized Enterprise (SME) international entry mode selection. In addition, a possible relationship between firms belonging to industrial districts and the entry mode choice has been verified. Data for t ..."
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Using a resource-based view model, this paper examines the main factors influencing Small and Medium-Sized Enterprise (SME) international entry mode selection. In addition, a possible relationship between firms belonging to industrial districts and the entry mode choice has been verified. Data for the analysis of this study were collected interviewing 221 owners/managers of SMEs in Italy. Results showed that entry mode decisions are mainly influenced by firm specific factors. Furthermore, the study does not support the hypothesis of a connection between the firm’s belonging to an industrial district and firms ’ behavior in entry mode selection. This study has made it possible to detect by a resource-based perspective the main factors influencing the choice of entry modes.
