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Three Essays On Corporate Control, Ning Pu
Three Essays On Corporate Control, Ning Pu
Doctoral Dissertations
Chapter 1 compares and contrasts the activism styles and outcomes of hedge-fund activists versus traditional institutional activists in an attempt to understand what drives the returns of institutional activism. Contrary to the popular belief that hedge-fund activism is designed to achieve a short-term payoff at the expense of long-term profitability, I find some evidence consistent with the hypothesis that hedge-fund activists can be effective monitors, especially when multiple hedge funds collaborate on the monitoring efforts. This result is supported by examining the relations between the holdings by different types of hedge-fund activists and the outcomes of proposed M&A deals, such …
Tacit Knowledge Transfer And Firm Growth: An Experience-Based Approach, Rory Eckardt
Tacit Knowledge Transfer And Firm Growth: An Experience-Based Approach, Rory Eckardt
Doctoral Dissertations
Scholars frequently suggest that since tacit knowledge is valuable, heterogeneous among firms, and difficult to imitate, it has the potential to provide firms with a sustained competitive advantage. However, the nature of such knowledge can make it difficult for firms to expand and fully exploit its potential. Specifically, the individual orientation of tacit knowledge requires that such knowledge be transferred and replicated internally to achieve scale. This process is difficult and time intensive due to the articulation challenges associated with tacit knowledge. Thus, while tacit knowledge offers the potential for sustained advantage, the ability to realize such an advantage is …