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Full-Text Articles in Business
Dilettante, Venturesome, Tory And Crafts: Drivers Of Performance Among Taxonomic Groups, Stanley W. Mandel, Jane S. Craig, Alex Stewart
Dilettante, Venturesome, Tory And Crafts: Drivers Of Performance Among Taxonomic Groups, Stanley W. Mandel, Jane S. Craig, Alex Stewart
Management Faculty Research and Publications
Empirical research has failed to cumulate into a coherent taxonomy of small firms. This may be because the method adapted from biology by Bill McKelvey has almost never been adopted. His approach calls for extensive variables and a focused sample of organizations, contrary to most empirical studies, which are specialized. Comparing general and special purpose approaches, we find some of the latter have more explanatory power than others and that general purpose taxonomies have the greatest explanatory power. Examining performance, we find the types do not display significantly different levels of performance but they display highly varied drivers of performance.
Why Can’T A Family Business Be More Like A Nonfamily Business? Modes Of Professionalization In Family Firms, Alex Stewart, Michael A. Hitt
Why Can’T A Family Business Be More Like A Nonfamily Business? Modes Of Professionalization In Family Firms, Alex Stewart, Michael A. Hitt
Management Faculty Research and Publications
The authors survey arguments that family firms should behave more like nonfamily firms and “professionalize.” Despite the apparent advantages of this transition, many family firms fail to do so or do so only partially. The authors reflect on why this might be so, and the range of possible modes of professionalization. They derive six ideal types: (a) minimally professional family firms; (b) wealth dispensing, private family firms; (c) entrepreneurially operated family firms; (d) entrepreneurial family business groups; (e) pseudoprofessional, public family firms; and (f) hybrid professional family firms. The authors conclude with suggestions for further research that is attentive to …
Reducing Causal Ambiguity In Acquisition Integration: Intermediate Goals As Mediators Of Integration Decisions And Acquisition Performance, Margaret Cording, Petra Christman, David R. King
Reducing Causal Ambiguity In Acquisition Integration: Intermediate Goals As Mediators Of Integration Decisions And Acquisition Performance, Margaret Cording, Petra Christman, David R. King
Management Faculty Research and Publications
Integration is a difficult process, but one that is vital to acquisition performance. One reason acquirers encounter difficulties is that the integration process exhibits high levels of intrafirm linkage ambiguity – a lack of clarity of the causal link between integration decisions and their performance outcomes. We introduce the construct of intermediate goals as a mechanism that reduces intrafirm linkage ambiguity. Our structural model results, based on a sample of 129 horizontal acquisitions, indicate that the achievement of two intermediate goals (internal reorganization and market expansion) fully mediates the relationships between four integration decisions and acquisition performance.
Economic Globalization And Caribbean Economies: Competitive Developments, Strategic Response, And Performance, Syed H. Akhter, Paul Pounder
Economic Globalization And Caribbean Economies: Competitive Developments, Strategic Response, And Performance, Syed H. Akhter, Paul Pounder
Marketing Faculty Research and Publications
This study examines the effects of economic globalization on competitive situations of local firms in a small economy, the strategic responses of these firms to the competitive developments, and marketing and financial performance outcomes of these strategies. Findings indicate both beneficial and deleterious effects of economic globalization on domestic competitive situations. Findings also indicate variations in strategic responses and performance outcomes of local firms. Implications are presented along with recommendations for future research.
Credit History And The Performance Of Prime And Nonprime Mortgages, Anthony Pennington-Cross
Credit History And The Performance Of Prime And Nonprime Mortgages, Anthony Pennington-Cross
Finance Faculty Research and Publications
Although nonprime lending has experienced steady or even explosive growth over the last decade very little is known about the performance characteristics of these mortgages. Using data from national secondary market institutions, this paper estimates a competing risks proportional hazard model, which includes unobserved heterogeneity. The analysis examines the performance of 30-year fixed rate owner occupied home purchase mortgages from February 1995 to the end of 1999 and compares nonprime and prime loan default and prepayment behavior. Nonprime loans are identified by mortgage interest rates that are substantially higher than the prevailing prime rate. Results indicate that nonprime mortgages differ …