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Full-Text Articles in Business
Coordination Costs And Research Joint Ventures, Rodney Falvey, Joanna Poyago-Theotoky, Khemarat Teerasuwannajak
Coordination Costs And Research Joint Ventures, Rodney Falvey, Joanna Poyago-Theotoky, Khemarat Teerasuwannajak
Rodney Falvey
We consider a simple oligopoly model where firms engage in cost-reducing R&D and compare two R&D regimes: R&D competition and R&D cooperation in the form of a research joint venture (RJV). We introduce coordination costs for the RJV and examine how these affect the equilibrium outcomes. We find that the performance of the RJV in comparison to R&D competition is sensitive to the level of coordination costs. Although the RJV may no longer conduct a unit of R&D at a lower cost compared to an independent firm in the non-cooperative R&D regime, RJV members can still make savings on their …
Essays On Corporate Finance, Hari Prasad Adhikari
Essays On Corporate Finance, Hari Prasad Adhikari
USF Tampa Graduate Theses and Dissertations
We compare acquisition activity, method of payment choice, and the long-run value implications of acquisitions by newly public single-class and dual-class US companies. Our results show that dual-class IPO firms make relatively more acquisitions in innovative industries and are less likely to pay with stock as compared to single-class IPO firms. We provide evidence that the reluctance of dual-class firms to pay with stock is not related to the insiders' cash-flow rights but it is significantly positively related to the insiders' voting rights and wedge between the insiders' voting rights and cash-flow rights. We also find that acquiring dual-class IPOs …
On The Governance Of Innovation: Institutional Ownership Vs. Stock Price, Huong Thi Thu Le
On The Governance Of Innovation: Institutional Ownership Vs. Stock Price, Huong Thi Thu Le
LSU Doctoral Dissertations
Firms can change their outstanding shares to manage their stock price levels. Those with lower stock prices tend to attract more speculative trading, which causes higher price volatility and may force their managers to excessively focus on short-term earnings at the expense of R&D and other long-term projects. Thus, I hypothesize that keeping high stock price levels allows firms to (i) limit speculative traders’ influences on stock prices and thus mitigate investor short-termism, and (ii) enhance R&D productivity. Indeed, I find that high-priced firms are less likely to cut R&D to reverse an earnings decline, less likely to fire their …
Constructing Corporate Capability In Changing Contexts: The Innovation Journey Of Strategic Management Development At Bankwest, Moira Watson
Constructing Corporate Capability In Changing Contexts: The Innovation Journey Of Strategic Management Development At Bankwest, Moira Watson
Theses: Doctorates and Masters
This thesis is about an unfolding management development process over time. Interconnections influencing corporate capability are explained and insight provided into the social construction of strategic organisational change. Studies of strategically-focused change don’t generally address the part management development plays in innovation and corporate capability construction. This research thus fills a persistent knowledge gap in the understanding of the way management development is provided within organisations and the value of the process.
This empirical study is in the process research tradition. A longitudinal, in-depth case study of BankWest, an Australian financial services company undergoing significant change between 1997 and 2009, …