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Information Processing, Knowledge Development, and Strategic Supply Chain Performance
AbstractAbstract
Little is known about why some supply chains perform well while others do not. Drawing on the knowledge-based view of the firm and theory from the information processing and organizational learning literatures, we devised a model linking knowledge development to cycle time in strategic supply chains—chains whose members are strategically, operationally, and technologically integrated. Using data from 58 chains in a Fortune 500 firm, we found that the knowledge development process explained substantial variance in cycle time.Corporate Risk-Return Relations: Returns Variability Versus Downside Risk
AbstractAbstract
This study tested a model of firm risk-return relations in which risk was conceptualized in terms of downside outcomes. Drawing on the behavioral theory of the firm, we developed a set of hypotheses involving downside risk, return, and organizational slack. The hypothesized risk and return relations were tested using both downside risk and the conventional standard deviation of returns. The results indicate downside risk results in improved subsequent performance. Performance shows a negative relation with subsequent downside risk.Strategic Planning and Firm Performance: A Synthesis of More Than Two Decades of Research
AbstractAbstract
Building on previous contingency frameworks, we developed an encompassing contingency model that might explain the inconsistent planning-performance findings reported in previous research. The model was empirically tested using meta-analytic data drawn from 26 previously published studies. Results suggest that strategic planning positively influences firm performance and that methods factors are primarily responsible for the inconsistencies reported in the literature. The substantive contingency factors that we examined, some of which have been frequently cited as important by previous researchers, did not have a large impact.The Effects of Partner and Relationship Characteristics On Alliance Outcomes
AbstractAbstract
Theories of alliance behavior and outcomes have tended to emphasize either partner or relationship characteristics. This study integrates the two perspectives and examines their separate and combined effects on alliance outcomes. The research involved analysis of 98 alliances through a two-stage survey design. Findings support a positive relationship between partner firms' benefits from alliance participation and partner reputation, shared decision making, and strategic similarities between partners.A Longitudinal Disaggregation of Operational Risk Under Changing Regulations: Evidence From the Savings and Loan Industry
AbstractAbstract
The reported research examines the relative contributions of prospect and agency theory explanations for specific operational risks and subsequent firm performance in regulated and unregulated environments. Specifically, this study simultaneously models competing theoretical explanations for risk using three distinct realized operational risks managed by savings and loan (S&L) firms. It then examines the effects of these risks on performance. Implications of this study argue for a mesotheoretic approach to the modeling of risk and for its disaggregation into distinct risk choices.BOARD DIVERSITY AND FIRM PERFORMANCE: AN EMPIRICAL INVESTIGATION OF THE MEDIATING EFFECTS OF BOARD PROCESSES AND TASK PERFORMANCE.
AbstractAbstract
This article empirically investigates the mediating roles of board processes and task performance in the relationship between board diversity and firm performance. The paper contributes to the theoretical understanding of the effects of board characteristics on firm performance.TRANSACTION COST ECONOMICS AND CEO STOCK-HOLDINGS.
AbstractAbstract
Using agency theory (AT), we argue that the confluence of advancing age and large stockholdings will cause CEO's to become overly risk-averse. Moreover, we argue that transaction cost economics can serve as a useful complement to AT because it explicates the internal and external contingencies that critically moderate this relationship.TRANSFERABILITY OF PARTNERING EXPERIENCES ACROSS NETWORKS: THE IMPACT OF M&A ADVISORY TIES ON THE FORMATION OF PUBLIC OFFERING SYNDICATES.
AbstractAbstract
Most previous studies on partner selection have overlooked the phenomenon where organizations make partnering decisions in one network on the basis of their relationships with partners in another network. We combine insights from the attention-based view of the firm with insights from resource dependence theory to explicate the conditions under which the probability of two organizations' partnering in one (focal) network will be influenced by the existence of a direct relationship between them in a different (parallel) network. Specifically, we argue that the transferability of a tie from the parallel network to the focal network is affected by the attention that managers give to the parallel network as a whole or to the specific partners in that network. In turn, this attention is influenced by the degree of dependence that the organization has on the parallel network as a whole or on individual partners in that network.LEADERS AND FOLLOWERS IN INDUSTRY MERGER WAVES.
AbstractAbstract
We investigate the firm characteristics that influence whether firms will lead or follow within industry merger waves. We draw on behavioral theory to develop hypotheses on firm characteristics of leaders, and we draw on institutional theory to predict acquisition processes of followers, in industry merger waves. Consistent with behavioral theory, our results show leaders are characterized by higher levels of slack, moderate firm performance, and smaller size. Consistent with institutional theory, results demonstrate acquisition processes used by followers include speedier decision processes, geographically proximal acquisitions, and stock financing. Theoretical and practical implications of these findings are discussed.HOW LONG MUST A FIRM BE GREAT TO RULE OUT LUCK? BENCHMARKING SUSTAINED SUPERIOR PERFORMANCE WITHOUT BEING FOOLED BY RANDOMNESS.
AbstractAbstract
Sustained superior firm performance may arise from skillful management, but it can also be a product of luck. We benchmark how long and how well a firm must perform to be confident that its sustained superiority is not the product of a lucky random walk. We find that (a) the number of sustained superior performers in COMPUSTAT from 1965-2005 exceeds the number we would expect by chance, yet (b) lucky random walks occur often enough to fool many observers, so (c) especially stringent benchmarks are needed to insure that the ratio of exceptionally capable to exceptionally lucky firms is high enough to allow for valid study.ACQUISITIONS AND THE EVOLUTION OF OPERATIONAL PERFORMANCE ACROSS THE FIRM.
AbstractAbstract
The article discusses the consolidation and merger of corporations in the manufacturing industry with a focus on how the acquired facility affects the operational performance of the acquirer company. The hypotheses are that there is a negative effect on the operational performance of the acquiring company when the acquired units' location is geographically close and that the acquiring company gains in efficiency when the acquired units are operationally similar. Operational performance during the post-acquisition integration period, geographic proximity, and operational similarity are discussed.CREATING MUTUAL VALUE WITH BASE OF THE PYRAMID PRODUCERS.
AbstractAbstract
Using a case study methodology, we analyze a sample of ventures to identify constraints faced by base of the pyramid producers that inhibit value creation and capture. We also identify strategies adopted by ventures to address these constraints. Our study provides preliminary support for the proposition of mutual value creation.EXPLORING THE INTERNAL STRUCTURE AND DYNAMICS OF ORGANIZATIONAL ROUTINES USING LANGUAGE AS A METAPHOR.
AbstractAbstract
The article examines organizational routines in terms of their dynamics and internal structure and uses language as a metaphor to represent patterns in performance. An explanation is given for how grammar is assigned to a sequence of moves in organizational routines which produces a lexicon. The similarity of routine performative competence in organizations and communicative competence in linguistics, the existence of explicit and implicit knowledge of rules formation in pragmatic routine competence, and social exchange theory are discussed.ENHANCING HRM PRACTICES: A STAKEHOLDER APPROACH.
AbstractAbstract
We apply a stakeholder perspective to SHRM and propose that the extent to which stakeholder interests are considered in the design and deployment of HRM practices is positively related to these practices' contribution to building required organizational capabilities. Drawing upon a sample of 201 business units from five geographic areas, we found that (a) consideration of individual stakeholder groups enhances HRM practices, and that (b) consideration of internal stakeholders, as compared to external stakeholders, is a stronger predictor of enhanced HRM practices. Moreover, HRM processes were positively associated to organizational effectiveness.An interview with Raymond E. Miles and Charles C. Snow
AbstractAbstract
Executive OverviewRaymond E. Miles is professor emeritus and former dean of the Walter A. Haas School of Business, University of California, Berkeley. He received his Ph.D. in Organizational Behavior and Industrial Relations from Stanford. He has published five books and over fifty articles based on his research on leadership and managerial philosophies, organizational development, organization design, and alternative arrangements of strategy, structure and process. His current research and writing focus on collaborative approaches to innovation.Charles C. Snow is the Mellon Foundation Professor of Business Administration and chairman of the Department of Management and Organization at Penn State's Smeal College of Business. He has research and consulting experience in both the formulation and implementation of business strategies. He is on the editorial board of the Strategic Management Journal, Journal of World Business, and six other academic journals. He has been a visiting professor at several institutions and has conducted in-company executive education programs for a variety of international organizations.A Behavioral Theory of Firm Growth: Sequential Attention to Size and Performance Goals
AbstractAbstract
According to the behavioral theory of the firm, managers pay sequential attention to goals and apply aspiration levels to each goal. Although many goals have been proposed for organizations, research has so far concentrated on profitability. Here it is proposed that managers form an aspiration level for size through social comparison. This proposal leads to predictions on how performance and size goals jointly affect growth. Supporting this sequential attention hypothesis, evidence from the general insurance industry shows that firms grow more when they are below the aspiration level for size, especially when performance goals are satisfied.Is the Socially Responsible Corporation a Myth? The Good, the Bad, and the Ugly of Corporate Social Responsibility
AbstractAbstract
Executive OverviewDespite differences of opinion about the efficacy of corporate social responsibility, there is a general consensus among academics, policy makers, and practitioners that corporations operate with a social sanction that requires that they operate within the norms and mores of the societies in which they exist. In this article I argue that the notion of a socially responsible corporation is potentially an oxymoron because of the naturally conflicted nature of the corporation. This has profound implications for our understanding of corporate social responsibility, what we view as the relevant issues relating to it, and how we investigate its role and impact.Managing Joint Ventures
AbstractAbstract
Executive OverviewJoint ventures aid firms in accessing new markets, knowledge, capabilities, and other resources. Yet they can be challenging to manage, largely because they are owned by two or more parent companies. These companies may have competing or incongruent goals, differences in management style, and in the case of international business, additional complexities associated with differing government policies and business practices. We examine research on joint venture (JV) performance in order to identify prominent academic discussions established over the last 25 years. From this research, we draw implications from past research and areas for future research on successfully managing JVs, taking into account the decisions JV partners must make throughout the partnering process, from initial motivations through partner selection and negotiation of terms to implementation and ongoing management. Key implications include the necessity of honesty, trust, and commitment for the success of the JV, settling disputes by focusing on what is best for the JV rather than individual partner objectives, and division of managerial responsibilities according to the functional expertise of each partner.
