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New Blood As An Elixir Of Youth: Effects Of Human Capital Tenure On The Explorative Capability Of Aging Firms, F. Ted Tschang, Gokhan Ertug
New Blood As An Elixir Of Youth: Effects Of Human Capital Tenure On The Explorative Capability Of Aging Firms, F. Ted Tschang, Gokhan Ertug
Research Collection Lee Kong Chian School Of Business
The relationship between firm age and innovation has been an enduring topic of interest. We contribute to this research by studying how the effect of firm age on the quality of explorative and exploitative innovations is affected by the firm-specific and industry tenure of the talent resources (employees) that the firm utilizes. We start with the baseline predictions that firm age is related to the development of better exploitative innovations and worse explorative innovations. However, the tenure of employees intervenes in these relationships, by way of bringing in new knowledge, mental models, and beliefs. We predict that longer firm-specific and …
Appropriability And The Retrieval Of Knowledge After Spillovers, Tufool Alnuaimi, Gerard George
Appropriability And The Retrieval Of Knowledge After Spillovers, Tufool Alnuaimi, Gerard George
Research Collection Lee Kong Chian School Of Business
Firms create and capture value through innovation. In technology-driven firms, there has been an explicit emphasis on appropriability through imitation deterrence and cumulative inventions that build on prior firm innovation. We introduce systematic empirical evidence for a third mechanism of appropriability namely, knowledge retrieval, which is defined as the re-absorption of previously spilled knowledge. We extend previous studies which consider technological complexity and organizational coupling as predictors of appropriability by examining their impact on knowledge retrieval. We find that technological complexity has a curvilinear relationship with retrieval while organizational coupling has a negative relationship. We discuss the implications of these …
Board Diversity, Firm Risk, And Corporate Policies, Gennaro Bernile, Vineet Bhagwat, Scott Yonker
Board Diversity, Firm Risk, And Corporate Policies, Gennaro Bernile, Vineet Bhagwat, Scott Yonker
Research Collection Lee Kong Chian School Of Business
We examine the effects of diversity in the board of directors on corporate policies and risk. Using a multi-dimensional measure, we find that greater board diversity leads to lower volatility and better performance. The lower risk levels are largely due to diverse boards adopting more persistent and less risky financial policies. However, consistent with diversity fostering more efficient (real) risk-taking, firms with greater board diversity also invest persistently more in R&D and have more efficient innovation processes. Instrumental variable tests that exploit exogenous variation in firm access to the supply of diverse nonlocal directors indicate that these relations are causal.