Open Access. Powered by Scholars. Published by Universities.®
- Discipline
-
- Social and Behavioral Sciences (116)
- Technology and Innovation (98)
- Organizational Behavior and Theory (92)
- International and Area Studies (80)
- Asian Studies (76)
-
- Business Law, Public Responsibility, and Ethics (55)
- International Business (54)
- Entrepreneurial and Small Business Operations (50)
- Corporate Finance (31)
- Human Resources Management (31)
- Finance and Financial Management (28)
- Marketing (21)
- Operations and Supply Chain Management (17)
- Physical Sciences and Mathematics (16)
- Leadership Studies (12)
- Medicine and Health Sciences (12)
- Sociology (12)
- Environmental Sciences (11)
- Public Affairs, Public Policy and Public Administration (11)
- E-Commerce (9)
- Education (9)
- Public Health (9)
- Higher Education (8)
- Business Administration, Management, and Operations (7)
- Management Sciences and Quantitative Methods (7)
- Business and Corporate Communications (5)
- Communication (5)
- Computer Sciences (5)
- Keyword
-
- Innovation (30)
- Corporate governance (21)
- China (17)
- Japan (13)
- Sustainability (11)
-
- COVID-19 (10)
- Corporate social responsibility (10)
- Entrepreneurship (10)
- Singapore (10)
- Performance (9)
- Networks (8)
- Strategy (8)
- Legitimacy (7)
- Management (7)
- Patents (7)
- Strategic planning (7)
- Alliances (6)
- Board of directors (6)
- Business enterprises (6)
- Collaboration (6)
- Corporate philanthropy (6)
- Decision making (6)
- Financial performance (6)
- International business (6)
- Leadership (6)
- Pandemics (6)
- Reputation (6)
- Social networks (6)
- Status (6)
- Strategic management (6)
- Publication Year
Articles 391 - 420 of 528
Full-Text Articles in Strategic Management Policy
The Business Model In Practice And Its Implications For Entrepreneurship Research, Gerard George, Adam J. Bock
The Business Model In Practice And Its Implications For Entrepreneurship Research, Gerard George, Adam J. Bock
Research Collection Lee Kong Chian School Of Business
While the term 'business model' has gained widespread use in the practice community, the academic literature on this topic is fragmented and confounded by inconsistent definitions and construct boundaries. In this study, we review prior research and reframe the business model with an entrepreneurial lens. We report on a discourse analysis of 151 surveys of practicing managers to better understand their conceptualization of a business model. We find that the underlying dimensions of the business model are resource structure, transactive structure, and value structure, and discuss the nature and implications of dimensional dominance for firm characteristics and behavior. These findings …
The Impact Of Firm Strategy And Foreign Ownership On Executive Bonus Compensation In Japanese Firms, Toru Yoshikawa, Abdul A. Rasheed, Esther B. Del Brio
The Impact Of Firm Strategy And Foreign Ownership On Executive Bonus Compensation In Japanese Firms, Toru Yoshikawa, Abdul A. Rasheed, Esther B. Del Brio
Research Collection Lee Kong Chian School Of Business
Building on information-processing perspectives and the Japanese contextual factors, this study investigates the relationships between firm strategy and executive bonus pay as well as the moderating role of foreign ownership on the strategy–compensation relationship in Japanese firms. We focus on R&D investment and product diversification as strategy variables and investigate their direct effects on executive bonus pay. Further, we examine the moderating effects of foreign ownership on the strategy–pay sensitivity. The results, based on a sample of the 148 largest industrial firms in Japan for the 1990–1997 period, show that both R&D investment and product diversification are positively related to …
International Business Travel In The Global Economy, J.V. Beaverstock, B. Derudder, J. Faulconbridge, F. Witlox (Eds.), Terence Ping Ching Fan
International Business Travel In The Global Economy, J.V. Beaverstock, B. Derudder, J. Faulconbridge, F. Witlox (Eds.), Terence Ping Ching Fan
Research Collection Lee Kong Chian School Of Business
Business travel accounts for a disproportionately large share of revenue and profit to transport service providers, and is therefore an important topic. However, few studies on international travels focus squarely on business travellers because these individuals are inherently difficult to identify: they do not always travel in business cabins (p. 79) and it is increasingly difficult to quantify the duration and function of business trips as travellers build in extra time to allow for flight delays or for other leisure activities (p. 69). Scholars of transport studies, especially air transport specialists, geographers, sociologists, and to a lesser extent, marketers of …
The Real Knowledge Transfer, Stefano Harney
The Real Knowledge Transfer, Stefano Harney
Research Collection Lee Kong Chian School Of Business
In Britain, knowledge transfer (KT) is taking a new turn. As a university policy, KT emphasized intellectual property rights. The dream of the managers of the university was to patent knowledge produced in university departments, laboratories, and lecture halls. This new proprietary knowledge would then either earn rent from the private sector, and in some cases the public sector, or lead to the founding of new private firms, owned in part by the university, the so-called spin-off.
Rethinking Growth: Differential Impact Of Large Absolute Vs Relative Expansion In De Novo Ventures, Terence Ping Ching Fan
Rethinking Growth: Differential Impact Of Large Absolute Vs Relative Expansion In De Novo Ventures, Terence Ping Ching Fan
Research Collection Lee Kong Chian School Of Business
By considering how in many industries an augmentation in production capacity is necessary to bring about significant growth in sales or eventual profit, this study adds an important footnote to prevailing theories of firm survival and competitiveness in strategic management. First, it distinguishes between attempts for new ventures to grow their production from the outcome of their expansions. Second, this study delineates the role of large absolute versus relative growths in production and their differential implications on young, de novo ventures: the former being conducive to firm survival while the latter being detrimental to it. This prediction is supported empirically …
China's Innovation Landscape, Kenneth G. Huang
China's Innovation Landscape, Kenneth G. Huang
Research Collection Lee Kong Chian School Of Business
The People's Republic of China has experienced three decades of sustained, strong annual economic growth as it transitions from a centrally planned economy to a free market. Currently the world's second largest economy, China recognizes scientific and technological innovation as an increasingly important strategy to fuel the next phase of its productivity growth. However, the drivers and trajectories of China's scientific and technological growth remain under-investigated. To understand elements of China's innovative activities, particularly in science and technology, an analysis of comprehensive patent data provided by the State Intellectual Property Office (SIPO) of China is presented here.
Exploiting Metaheuristics To Strategize On Performance-Based Logistics Contracts For Mro Services, Arnd Schirrmann, Elaine Wong, Zhichao Zheng
Exploiting Metaheuristics To Strategize On Performance-Based Logistics Contracts For Mro Services, Arnd Schirrmann, Elaine Wong, Zhichao Zheng
Research Collection Lee Kong Chian School Of Business
An inherent challenge of using Performance-Based Logistics (PBL) contracts for aircraftmaintenance, repair and overhaul (MRO) services is pricing. As with traditional bricks andmortar services, under-priced contracts cannot cover costs, while overpriced contracts loseout to competition. Furthermore MRO services have an additional element of uncertainty.Performance uncertainties arise due to the inability to accurately forecast demand of spareparts, while cost uncertainties are a result of globally distributed operations subjected tofluctuating economic conditions. Previous work to solve this contracting problem adoptedthe principal-agent model, obtaining an optimal solution from the perspective of both riskaverseparties (i.e., a price-sensitive customer and a profit-driven service provider). Thiswork …
The Upstart's Assault, Marco Bertini, Nirmalya Kumar
The Upstart's Assault, Marco Bertini, Nirmalya Kumar
Research Collection Lee Kong Chian School Of Business
The article presents a fictional case study that focuses on how to manage competition in the telecommunication services industry. The issue is that one company could lose customers and market share because another company is offering free broadband. Georg Tacke, co-chief executive officer of Simon-Kucher & Partners company, and Anne Gro Gulla, a branding director at Telenor Group company, offer their views on how to respond to a competitive attack without causing a price war.
Growth And Survival Of International Joint Ventures: An External-Internal Legitimacy Perspective, Jane W. Lu, Dean Xu
Growth And Survival Of International Joint Ventures: An External-Internal Legitimacy Perspective, Jane W. Lu, Dean Xu
Research Collection Lee Kong Chian School Of Business
The authors examine the growth and survival of international joint ventures (IJVs) from a legitimacy perspective. In a sample of 291 Sino-Japanese joint ventures in China, they found that Chinese parent age, Chinese parent size, and IJV industry relatedness to either parent had a positive effect on IJV growth and/or survival. However, IJV industry relatedness to both parents led to lower rates of IJV growth and survival. The findings highlight the importance for IJVs to obtain both external and internal legitimacy, as well as the difficulties IJVs face in acquiring internal legitimacy from both parents simultaneously.
Do Shareholders Or Stakeholders Appropriate The Rents From Corporate Diversification? The Influence Of Ownership Structure, Parthiban David, Jonathan P. O'Brien, Toru Yoshikawa, Andrew Delios
Do Shareholders Or Stakeholders Appropriate The Rents From Corporate Diversification? The Influence Of Ownership Structure, Parthiban David, Jonathan P. O'Brien, Toru Yoshikawa, Andrew Delios
Research Collection Lee Kong Chian School Of Business
Prior work on the performance consequences of corporate diversification has treated all powerful owners as seeking the same benefits from diversification (i.e, higher profit rather than growth) and therefore limiting value appropriation by other stakeholders such as employees and managers. In contrast, we distinguish between domestic "relational" owners and foreign "transactional" owners in Japanese corporations. Although transactional owners do indeed prioritize profitability when diversifying, relational owners primarily seek growth rather than profits from diversification. Furthermore, relational owners also allow managers and employees to appropriate more of the rents arising from diversification than do transactional owners.
Entrepreneurial Experiments In Science Policy: Analyzing The Human Genome Project, Kenneth G. Huang, Fiona E. Murray
Entrepreneurial Experiments In Science Policy: Analyzing The Human Genome Project, Kenneth G. Huang, Fiona E. Murray
Research Collection Lee Kong Chian School Of Business
We re-conceptualize the role of science policy makers, envisioning and illustrating their move from being simple investors in scientific projects to entrepreneurs who create the conditions for entrepreneurial experiments and initiate them. We argue that reframing science policy around the notion of conducting entrepreneurial experiments – experiments that increase the diversity of technical, organizational and institutional arrangements in which scientific research is conducted – can provide policy makers with a wider repertoire of effective interventions. To illustrate the power of this approach, we analyze the Human Genome Project (HGP) as a set of successful, entrepreneurial experiments in organizational and institutional …
Developing Virtual Worlds: The Interplay Of Design, Communities And Rationality, F. Ted Tschang, Jordi Comas
Developing Virtual Worlds: The Interplay Of Design, Communities And Rationality, F. Ted Tschang, Jordi Comas
Research Collection Lee Kong Chian School Of Business
This paper examines the evolution of virtual worlds from the developer's perspective. What are the motivations of developers? What are the specific challenges of the governance of user-generated content? User-created virtual worlds may be characterized according to their degree of design or emergence. On one end is the 'the designer as god' perspective and on the other is the unforeseeable and perpetually emergent 'user creativity.' Utilizing a theoretically derived sample of virtual worlds, we illustrate how governance is more complex as designers contend with three major issues. In general, across all three worlds, developers had to come to grips with …
Emotion Management In Radical Change: A Preliminary Study Of Earthquake Power Restoration, Taieb Hafsi, Xu Liang, Wenjing Lin, Kangxiong Yu, Li Yan
Emotion Management In Radical Change: A Preliminary Study Of Earthquake Power Restoration, Taieb Hafsi, Xu Liang, Wenjing Lin, Kangxiong Yu, Li Yan
Research Collection Lee Kong Chian School Of Business
This paper studies leaders’ emotion capacity as a strategic response to unexpected radical changes, forced by a social and natural crisis. We propose that empathy is a critical strategic management tool enhancing management effectiveness. We also provide insights of the dynamics between decision making process and emotion management.
Creative Industries Debate: Unfinished Business: Labour, Management, And The Creative Industries, Stefano Harney
Creative Industries Debate: Unfinished Business: Labour, Management, And The Creative Industries, Stefano Harney
Research Collection Lee Kong Chian School Of Business
In what follows I am going to argue that the rise of the creative industries has in general been understood too narrowly. This narrow understanding has had implications for the way that a politics of management and labour in the creative industries has been framed and contained, and it has held back an analysis of class struggle in the creative industries. To elaborate an understanding of labour in the creative industries I am going to revisit some insights related to the development of British cultural studies, and try to link these insights to what Stuart Hall calls the conditions of …
Family Control And Ownership Monitoring In Family-Controlled Firms In Japan, Toru Yoshikawa, Abdul A. Rasheed
Family Control And Ownership Monitoring In Family-Controlled Firms In Japan, Toru Yoshikawa, Abdul A. Rasheed
Research Collection Lee Kong Chian School Of Business
This paper focuses on a type of firms that have been traditionally neglected in both family business and governance research, namely, family-controlled, publicly-listed firms. Although principal-agent conflicts may be less prevalent in such firms, family control can potentially give rise to principal-principal conflicts, leading to expropriation of the wealth of minority owners by family owners. Superior firm performance and the willingness to distribute the profits through dividend payments would suggest the absence of such expropriation. Based on a sample of 210 OTC firms in Japan, we examined the relationships between family control and dividend payouts and profitability. Our results indicate …
Sourcing Reform Competency And Effective Collaboration: A Resource Based View, Sudhi Seshadri
Sourcing Reform Competency And Effective Collaboration: A Resource Based View, Sudhi Seshadri
Research Collection Lee Kong Chian School Of Business
Firms in the Asia Pacific region are rapidly globalizing their sourcing processes and effective collaboration with suppliers across borders is necessary for superior sourcing performance. Recent work in Resource Based View calls for business process level research into the resource-performance link and for survey research into global sourcing. We report on a survey research study with managers in the region, and develop measures that link practices to the goals of De-Constraining, Re-Branding and Re-Optimizing. We develop a model and test hypotheses based on predictions of RBV. We find that a latent sourcing resource Reform Competency is positively associated with these …
Is Firm-Specific Innovation Associated With Greater Value Appropriation? The Roles Of Environmental Dynamism And Technological Diversity, Heli Wang, Wei-Ru Chen
Is Firm-Specific Innovation Associated With Greater Value Appropriation? The Roles Of Environmental Dynamism And Technological Diversity, Heli Wang, Wei-Ru Chen
Research Collection Lee Kong Chian School Of Business
This paper extends the resource-based theory of the firm to examine the contingencies that either intensify or reduce the relationship between firm-specific innovation and value appropriation. Based on a large-scale analysis of a sample of US manufacturing firms, we found that greater innovation rents appropriation is associated with an increase in firm specificity of its innovative knowledge. But the positive relationship between firm-specific innovations and firm value appropriation tends to decrease when the product or technology market is highly dynamic. Further, under high environmental dynamism, firms should increase the diversity in their knowledge composition in order to mitigate the risk …
What’S In It For Them? Advantages Of Higher Status Partners In Exchange Relationships, Fabrizio Castellucci, Gokhan Ertug
What’S In It For Them? Advantages Of Higher Status Partners In Exchange Relationships, Fabrizio Castellucci, Gokhan Ertug
Research Collection Lee Kong Chian School Of Business
This article explores the motivations that high-status firms have to enter exchange relationships with lower-status partners. We argue that high-status firms can secure greater effort from lower-status partners and that the amount of effort will be proportional to their status advantage over these partners. We further propose that such effort will translate to increased performance by mediating the negative consequences of affiliations with lower-status partners. This increase in performance constitutes the motivation for high-status firms to enter exchange relationships with lower-status partners. Findings using data on Formula One racing support our argument.
The Outsourcing Of Creative Work And The Limits Of Capability: The Case Of The Philippines Animation Industry, Feichin Ted Tschang, Andrea Goldstein
The Outsourcing Of Creative Work And The Limits Of Capability: The Case Of The Philippines Animation Industry, Feichin Ted Tschang, Andrea Goldstein
Research Collection Lee Kong Chian School Of Business
The animation industry, like many information-technology-enabled services sectors, has been of interest to many developing countries interested in developing services outsourcing industries. We analyze the case of the Philippines' animation industry. This paper investigates the outsourcing process in animation and the nature of capabilities within that, with the goal of contributing to a more general understanding of services outsourcing. We examine the industry's history, interview data with industry participants, and secondary data. We find that strong labor force skills have been central to capabilities rather than organizational abilities. Outsourcing of production takes place only so far as the work is …
Academic Entrepreneurs: The Role Of Star Scientists In Commercialization Of Radical Science, Reddi Kotha, Gerard George
Academic Entrepreneurs: The Role Of Star Scientists In Commercialization Of Radical Science, Reddi Kotha, Gerard George
Research Collection Lee Kong Chian School Of Business
We examine the effects of individual, team, and institutional capabilities on the governance of technology contracts. Star scientific teams may work on higher quality projects which may be of high or low risk, depending on the maturity of the technology. Arguments that assumed that both capabilities and risk are codetermined, and seldom diverge in their effects on incentive preferences, may be tenuous in these cases. We test our predictions using a two-stage model in a sample of 1,474 inventions that were licensed through performance or upfront contracts. We find that when individuals and teams have strong capabilities, they prefer performance …
Accounting, Risk, And Revolution, Stefano Harney
Accounting, Risk, And Revolution, Stefano Harney
Research Collection Lee Kong Chian School Of Business
In response to the position of Steve Toms, this article argues that risk must be understood not as it has been posited by capital but rather as it might be taken up by labour. It uses Marx's socialization thesis to maintain that risk is a symptom of possibility for labour. Drawing on the work of Randy Martin the argument culminates in a consideration of the interanimation of capital in labour occasioned by the second helping of risk produced by its commoditisation. It concludes that far from being just what Michel Aglietta calls a social evaluation of private economic activity, risk …
Who Is Taking Your Business Across Borders? Harnessing Human Capital For Successful Regionalization In Asia, Richard Raymond Smith, C. Switzer, E. Craig
Who Is Taking Your Business Across Borders? Harnessing Human Capital For Successful Regionalization In Asia, Richard Raymond Smith, C. Switzer, E. Craig
Research Collection Lee Kong Chian School Of Business
As the dynamics of globalisation change, Asia has become the focal point for business growth. With the region’s immense diversity across cultures, language, politics, economic development, climate, geography, populations and resources, human capital management is perhaps the most critical and most vexing success factor for companies seeking to invest/operate/grow/expand here. To develop this report, we explored the question of successful regionalisation in Asia from a human capital perspective. We asked, What human capital challenges do business and HR leaders face in their quest to succeed in Asia? What initiatives have they launched to overcome these challenges? And what business outcomes …
Does Patent Strategy Shape The Long-Run Supply Of Public Knowledge? Evidence From Human Genetics, Kenneth G. Huang, Fiona Murray
Does Patent Strategy Shape The Long-Run Supply Of Public Knowledge? Evidence From Human Genetics, Kenneth G. Huang, Fiona Murray
Research Collection Lee Kong Chian School Of Business
Knowledge-based firms seeking competitive advantage often draw on the public knowledge stream (ideas embedded in public commons institutions) as the foundation for private knowledge (ideas firms protect through private intellectual property [IP] institutions). However, understanding of the converse relationship—the impact of private knowledge strategies on public knowledge production—is limited. We examine this question in human genetics, where policy makers debate expanding IP ownership over the human genome. Our difference-in-differences estimates show that gene patents decrease public genetic knowledge, with broader patent scope, private sector ownership, patent thickets, fragmented patent ownership, and a gene's commercial relevance exacerbating their effect.
Firm-Specific Knowledge Resources And Competitive Advantage: The Roles Of Economic- And Relationship-Based Employee Governance Mechanisms, Heli Wang, Jinyu He, Joseph T. Mahoney
Firm-Specific Knowledge Resources And Competitive Advantage: The Roles Of Economic- And Relationship-Based Employee Governance Mechanisms, Heli Wang, Jinyu He, Joseph T. Mahoney
Research Collection Lee Kong Chian School Of Business
The resource-based view of the firm emphasizes the role of firm-specific resources, especially firm-specific knowledge resources, in helping a firm to achieve sustainable competitive advantage. However, the deployment of firm-specific knowledge often requires key employees to make specialized human capital investments that are not easily redeployable to other settings. Thus, in the absence of effective safeguards and trust building devices, employees with foresight may be reluctant to make such specialized investments. This study explores both economic- and relationship-based governance mechanisms that might mitigate this underinvestment problem. Effective use of these governance mechanisms enables a firm to obtain greater performance from …
Innovation And Commoditization: Asian Cross Border Sourcing Practices, Sudhi Seshadri
Innovation And Commoditization: Asian Cross Border Sourcing Practices, Sudhi Seshadri
Research Collection Lee Kong Chian School Of Business
What constitutes better sourcing performance? The question is gaining prominence from recent work in the resource based view of the firm where interest in functional performance is growing. The paper addresses this question by investigating several dimensions of sourcing practices. Two main performance priorities are captured by supply innovation and supply commoditization, and we develop several hypotheses involving these constructs. The paper reports on our survey research with Asian purchasing managers; scales that measure supply innovation and commoditization; and the estimates of a path analytic model to test our hypotheses and provide relative effect sizes. The results contribute to a …
Innovative Knowledge Assets And Economic Performance: The Asymmetric Roles Of Incentives And Monitoring, Jinyu He, Heli Wang
Innovative Knowledge Assets And Economic Performance: The Asymmetric Roles Of Incentives And Monitoring, Jinyu He, Heli Wang
Research Collection Lee Kong Chian School Of Business
We posit that a firm's resource configuration constitutes a critical context for various corporate governance mechanisms. Although innovative knowledge assets are generally a key determinant of a firm's economic performance, they also lead to greater information asymmetry among managers and owners and to the need to grant managers more discretion in making resource deployment decisions. This weakens the role of monitoring but increases the effectiveness of incentive mechanisms. Therefore, we hypothesize asymmetric moderating effects of monitoring- and incentive-based governance mechanisms on the relationship between innovative knowledge assets and economic performance. Our empirical analyses provide support for the key arguments.
Academics Or Entrepreneurs? Investigating Role Identity Modification Of University Scientists Involved In Commercialization Activity, Sanjay Jain, Gerard George, Mark Maltarich
Academics Or Entrepreneurs? Investigating Role Identity Modification Of University Scientists Involved In Commercialization Activity, Sanjay Jain, Gerard George, Mark Maltarich
Research Collection Lee Kong Chian School Of Business
Establishing the microfoundations of academic entrepreneurship requires closer scrutiny of a key actor contributing to this phenomenon—the university scientist. We investigate the sense-making that scientists engage in as part of their participation in technology transfer and postulate that this process involves a potential modification in their role identity. We analyzed more than 70 h of interview data at a premier U.S. public research university. We observe that scientists invoke rationales for involvement that are congruent with their academic role identity. They typically adopt a hybrid role identity that comprises a focal academic self and a secondary commercial persona. We delineate …
The Two Faces Of Control: Network Closure And Individual Performance Among Knowledge Workers, Martin Gargiulo, Gokhan Ertug, Charles Galunic
The Two Faces Of Control: Network Closure And Individual Performance Among Knowledge Workers, Martin Gargiulo, Gokhan Ertug, Charles Galunic
Research Collection Lee Kong Chian School Of Business
This paper argues that the effect of dense social ties, or network closure, on a knowledge worker's performance depends on the predominant role this worker plays with his or her exchange partners in the relationships affected by that closure. Using data on informal exchanges among investment bankers in the equities division of a large financial services firm operating in Europe, Asia-Pacific, Africa, and the Americas in 2001, we find that network closure in relationships in which the banker acts as an acquirer of information increases his or her performance, whereas closure in relationships in which the banker acts as a …
Categories In Evaluation Of Innovative Activities Of Competing Firms, Xuesong Geng
Categories In Evaluation Of Innovative Activities Of Competing Firms, Xuesong Geng
Research Collection Lee Kong Chian School Of Business
I examine how the stock market evaluation of a firm’s innovative activities is influenced by the categorization of the firm and its rivals. I find that innovations that blur the industry boundaries cause negative evaluation bias, but the competing innovations by outside industry firms cause positive evaluation bias in firm valuation.
Residual State Ownership, Policy Stability And Financial Performance Following Strategic Decisions By Privatizing Telecoms, Paul M. Vaaler, Burkhard N. Schrage
Residual State Ownership, Policy Stability And Financial Performance Following Strategic Decisions By Privatizing Telecoms, Paul M. Vaaler, Burkhard N. Schrage
Research Collection Lee Kong Chian School Of Business
We question previous research assuming that privatizing firm performance generally benefits from decreasing state ownership and the passage of time, both of which purportedly align principal-agent incentives promoting organizational decision-making that increases shareholder value. When state ownership shifts from majority and controlling to minority and non-controlling, the performance impact may be positive in the short run, particularly where there is instability in the local investment policy environment. Consistent with this proposition, we develop and test hypotheses derived from a minority and non-controlling or residual state ownership framework, grounded in credible privatization and institutional theory. We propose that: (1) residual state …