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Research Collection Lee Kong Chian School Of Business

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Articles 451 - 480 of 528

Full-Text Articles in Strategic Management Policy

Joint Ventures And Real Options: An Integrated Perspective, Ilya Cuypers, Xavier Martin Jan 2007

Joint Ventures And Real Options: An Integrated Perspective, Ilya Cuypers, Xavier Martin

Research Collection Lee Kong Chian School Of Business

We provide a comprehensive synthesis and extension of the real option (RO) literature on joint ventures (JVs), contributing in three main areas. First, we examine major alternative theoretical perspectives on JVs - learning, bargaining, transaction cost and agency theory - to elaborate how they complement or contradict RO predictions. Second, we compare arguments and variables used to explain different JV stages - initial RO explicitness and equity shares, JV stability, and performance consequences - and highlight research opportunities. Third, we discuss and extend research about behavioral aspects of making RO (JV) investments. Overall, we offer new predictions and suggestions for …


Towards A Holistic Framework In Fostering Spirituality At Work, Gilbert Tan Jan 2007

Towards A Holistic Framework In Fostering Spirituality At Work, Gilbert Tan

Research Collection Lee Kong Chian School Of Business

Management theories are shaped by the assumptions of man. The Scientific and Administrative School of Thoughts adopt a mechanistic view of human. The Human Relations School views humans as social beings. Spirituality at work looks at the spiritual side of the organization and views an as a spiritual being. This paper proposes a holistic framework to spirituality at work. Taking a systems approach the framework discusses how training, cultural and structural interventions directed the four sub-systems of the organization, namely, culture, leadership, structure and people, help to promote spirituality at work. The framework also discusses the organizational and individual outcomes …


Performance Differences Across Strategic Groups: An Examination Of Financial Market-Based Performance Measures, J. Rajendran Pandian, Howard Thomas, Olivier Furrer, William C. Bogner Nov 2006

Performance Differences Across Strategic Groups: An Examination Of Financial Market-Based Performance Measures, J. Rajendran Pandian, Howard Thomas, Olivier Furrer, William C. Bogner

Research Collection Lee Kong Chian School Of Business

One of the more interesting issues in the strategic management field is the question of whether intra-industry performance differences exist, particularly across strategic groups. Most of the existing studies have used accounting measures of performance despite the documented weaknesses of such measures. This paper examines whether financial market-based measures of performance are superior to accounting-based measures in identifying performance differences across strategic groups. Hypotheses are tested on data from an existing sample of firms in the US pharmaceutical industry. The empirical results indicate that performance differences are more likely to exist across strategic groups when financial market performance measures are …


A Capabilities Perspective On The Effects Of Early Internationalization On Firm Survival And Growth, Harry J. Sapienza, Erkko Autio, Gerard George, Shaker A. Zahra Oct 2006

A Capabilities Perspective On The Effects Of Early Internationalization On Firm Survival And Growth, Harry J. Sapienza, Erkko Autio, Gerard George, Shaker A. Zahra

Research Collection Lee Kong Chian School Of Business

Recent critiques of internationalization process models question the wisdom of delaying internationalization. Internationalizing late allows firms to assemble resources and gain experience but also allows inertia to develop. We resolve this tension by positing that internationalization has differing effects on firm survival and growth. These effects are moderated by organizational age, managerial experience, and resource fungibility. Our framework provides insights into the evolution of capabilities across borders and may be tested and built on by organization researchers.


Partnering Strategies And Performance Of Smes' International Joint Ventures, Jane Wenzhen Lu, Paul W. Beamish Jul 2006

Partnering Strategies And Performance Of Smes' International Joint Ventures, Jane Wenzhen Lu, Paul W. Beamish

Research Collection Lee Kong Chian School Of Business

The international joint venture (IJV) is an important mode in the internationalization of small- and medium-sized enterprises (SMEs). Internationalization in turn is an entrepreneurial behavior in the pursuit of growth. Partnering strategies in the formation of IJVs can have significant effects on the outcome of SMEs' international expansion. In this study, we examine the performance implications of two types of resources contributed by SMEs' IJV partners, host country knowledge and size-based resources. We develop and test three sets of hypotheses about the longevity and financial performance of a sample of 1117 international joint ventures established in 43 countries by 614 …


Strategic Investments In Japanese Corporations: Do Foreign Portfolio Owners Foster Underinvestment Or Appropriate Investment?, Parthiban David, Toru Yoshikawa, Murali D. R. Chari, Abdul A. Rasheed Jun 2006

Strategic Investments In Japanese Corporations: Do Foreign Portfolio Owners Foster Underinvestment Or Appropriate Investment?, Parthiban David, Toru Yoshikawa, Murali D. R. Chari, Abdul A. Rasheed

Research Collection Lee Kong Chian School Of Business

This paper investigates the effect of foreign ownership on strategic investments in Japanese corporations. Foreign owners are typically portfolio investors who frequently buy and sell shares and hold diversified portfolios of small stakes in many firms. Prior research has presented two conflicting perspectives on the role of such investors: (a) their frequent trading leads to pressure for short-term returns that fosters underinvestment; (b) their active trading fosters appropriate investments. We investigated the relationship between foreign ownership and strategic investments using dynamic panel data analysis of a sample of 146 Japanese manufacturing firms from 1991 to 1997. We found that foreign …


Substitution Or Symbolic Effects? A Reexamination Of Corporate Governance And Firm Performance, Xuesong Geng, Dean Hennessy, Kimberly Bates Jun 2006

Substitution Or Symbolic Effects? A Reexamination Of Corporate Governance And Firm Performance, Xuesong Geng, Dean Hennessy, Kimberly Bates

Research Collection Lee Kong Chian School Of Business

In this paper, we use a sample of large Canadian corporations to test the substitution hypothesis and the symbolic hypothesis. We find that the positive effect of board independence on firm performance declines as managerial ownership increases. This effect becomes non-positive when highly concentrated managerial ownership makes independent board more symbolic than effective.


Employee Incentives To Make Firm Specific Investment: Implications For Resource-Based Theories Of Corporate Diversification, Heli Wang, Jay B. Barney Apr 2006

Employee Incentives To Make Firm Specific Investment: Implications For Resource-Based Theories Of Corporate Diversification, Heli Wang, Jay B. Barney

Research Collection Lee Kong Chian School Of Business

We argue that the risk associated with the value of a firm's core resources has an impact on employee decisions to make firm-specific investments, independent of the threat of opportunism that might exist in a particular exchange. We further explore mechanisms firms may adopt to mitigate the employee incentive problem stemming from the risk associated with core resource value. These arguments shed new light on resource-based theories of corporate diversification.


What Makes And What Does Not Make A Real Option? A Study Of International Joint Ventures, Ilya Cuypers, Xavier Martin Jan 2006

What Makes And What Does Not Make A Real Option? A Study Of International Joint Ventures, Ilya Cuypers, Xavier Martin

Research Collection Lee Kong Chian School Of Business

This paper examines the boundaries of real options logic, with an application to joint ventures (JVs). We distinguish between forms of uncertainty that are resolved endogenously and those that are resolved exogenously, and theorize that only exogenous uncertainty will have the impact predicted by real options theory on a foreign investor's choice of how large an equity share to take in a JV. We theorize that macroeconomic and institutional variables generate exogenous uncertainty whereas, by contrast, cultural distance and choices pertaining to corporate scope and product or process development activities involve endogenous sources of uncertainty that investors can both assess …


The Systematic Nature Of Serendipity In Opportunity Discovery: Implications For The Theory Of Entrepreneurship, Reddi Kotha, Dimo Dimov, Gerard George Jan 2006

The Systematic Nature Of Serendipity In Opportunity Discovery: Implications For The Theory Of Entrepreneurship, Reddi Kotha, Dimo Dimov, Gerard George

Research Collection Lee Kong Chian School Of Business

This paper endeavors to disentangle search from serendipity in discoveries of new opportunities. Whereas economic models focus on active search and the tradeoff between its costs and benefits, the Austrian economic tradition posits that individuals do not search for opportunities; it is their alertness that helps them to profit from arbitrage opportunities from the imperfect decisions of others. Further, their alertness reflects their unique prior experience. Yet, despite the intuitive soundness of these ideas, some recent experimental empirical work to test them has highlighted the need for stronger theoretical precision. Are serendipitous solutions better than active search solutions? Can serendipitous …


The Art Of Making Smart Big Moves, Paul Strebel, Anne-Valerie Ohlsson-Corboz Jan 2006

The Art Of Making Smart Big Moves, Paul Strebel, Anne-Valerie Ohlsson-Corboz

Research Collection Lee Kong Chian School Of Business

For many companies, incremental growth is not sufficient. The changing business landscape is forcing corporate leaders to learn how to reposition their businesses more fundamentally.


Realizing The Potential Of The Ambidextrous Firm, James Arthur Robins Jan 2006

Realizing The Potential Of The Ambidextrous Firm, James Arthur Robins

Research Collection Lee Kong Chian School Of Business

Sustaining innovation in the face of pressures to be cost-competitive and make effective use of existing resources is not a new challenge, but recent acceleration of competition has pushed this issue high on the agenda for managers and researchers. Organizing and managing the “ambidextrous” company – a firm that excel in exploring new areas of productive knowledge and exploiting existing capabilities – has emerged as a major concern of strategic management. In this paper, we explore coordination problems that make it difficult for firms to realize their potential as ambidextrous competitors. Organizations may possess superior skills for both exploration and …


Using Community Service Projects To Teach Leadership And Team-Building: Theoretical Foundations, Students' Reactions And Practical Considerations, Gilbert Tan Dec 2005

Using Community Service Projects To Teach Leadership And Team-Building: Theoretical Foundations, Students' Reactions And Practical Considerations, Gilbert Tan

Research Collection Lee Kong Chian School Of Business

This paper discusses the theoretical foundations of utilizing Community Service Project (CSP) or service-learning to teach Leadership and Team-Building. It examines the students’ reactions to this innovative method of instruction. This is done through conducting a content analysis of students’ learning journals, in which students reflect on their CSP learning experiences. Two themes emerged from the data: (a) variety of learning experiences, and (b) impact of CSP experience. The data suggested that students derived a variety of learning experiences from the CSP. In addition, there were attitudinal and learning impacts associated with the CSP experiences. The paper also outlines some …


Defining The 'Social' In 'Social Entrepreneurship': Altruism And Entrepreneurship, Wee Liang Tan, John N. Williams, Teck Meng Tan Sep 2005

Defining The 'Social' In 'Social Entrepreneurship': Altruism And Entrepreneurship, Wee Liang Tan, John N. Williams, Teck Meng Tan

Research Collection Lee Kong Chian School Of Business

What is social entrepreneurship? In, particular, what’s so social about it? Understanding what social entrepreneurship is enables researchers to study the phenomenon and policy-makers to design measures to encourage it. However, such an understanding is lacking partly because there is no universally accepted definition of entrepreneurship as yet. In this paper, we suggest a definition of social entrepreneurship that intuitively accords with what is generally accepted as entrepreneurship and that captures the way in which entrepreneurship may be altruistic. Based on this we provide a taxonomy of social entrepreneurship and identify a number of real cases from Asia illustrating the …


Too Little Or Too Much? Reexamining The Relationship Between Corporate Charitable Giving And Corporate Financial Performance, Heli Wang, Jaepil Choi, Jiatao Li Aug 2005

Too Little Or Too Much? Reexamining The Relationship Between Corporate Charitable Giving And Corporate Financial Performance, Heli Wang, Jaepil Choi, Jiatao Li

Research Collection Lee Kong Chian School Of Business

How do corporate charitable contributions affect corporate financial performance? Instrumental stakeholder theory posits that corporate giving can lead to high levels of corporate financial performance through improved stakeholder relations. In contrast, agency theory suggests that corporate giving diverts valuable corporate resources and inhibits corporate financial performance. Extant empirical studies that have examined the relationship found inconclusive results. We depart from and extend the existing literature in two main aspects. First, building upon the instrumental stakeholder argument and agency perspective, we develop the argument that there is an inverse U-shaped relationship between corporate charitable giving and corporate financial performance. Second, we …


Slack Resources And The Performance Of Privately Held Firms, Gerard George Aug 2005

Slack Resources And The Performance Of Privately Held Firms, Gerard George

Research Collection Lee Kong Chian School Of Business

Empirical findings from publicly traded firms and behavioral arguments suggest a positive influence of resource slack on financial performance. While this area has remained unexplored in privately held firms, conceptual arguments indicate that resource constraints may enhance performance. Longitudinal data on 900 privately held firms confirm the differing influences of forms of slack on performance. Results indicate that a combination of behavioral and resource constraints arguments are necessary to explain the slack-performance relationship in privately held firms. The implications of these findings for theories of resources and entrepreneurship are discussed.


Why Is Management A Cliché?, Stefano Harney Jul 2005

Why Is Management A Cliché?, Stefano Harney

Research Collection Lee Kong Chian School Of Business

This article introduces the term demotics of management by asking why so much management literature reads like a cliché. Typically this question has been approached by seeing the cliché as strategic. This article instead views the cliché as symptomatic. It marks a growing problem—how can management track labor out of the workplace and into the realm of social reproduction, a realm that is increasingly, with the tendency of immaterial labor, directly productive. This problem has produced not only the explosion of popular management literature, particularly in the United States, in the last 20 years, but also what might be called …


The Singapore Edge In India's Silicon Valley: New Insights?, Caroline Yeoh, David David May 2005

The Singapore Edge In India's Silicon Valley: New Insights?, Caroline Yeoh, David David

Research Collection Lee Kong Chian School Of Business

No abstract provided.


The Impact Of Ownership Structure On Wage Intensity In Japanese Corporations, Toru Yoshikawa, Phillip H. Phan, Parthiban David Apr 2005

The Impact Of Ownership Structure On Wage Intensity In Japanese Corporations, Toru Yoshikawa, Phillip H. Phan, Parthiban David

Research Collection Lee Kong Chian School Of Business

The authors studied the effect of ownership structure on human capital investments as indicated by wage intensity, defined as the ratio of expenditure on employee wages to sales, in a sample of 996 Japanese manufacturing firms during their economic recession of 1998-2002. They found that domestic shareholders, with interests beyond financial considerations, enhance wage intensity, especially when performance is low, and thereby safeguard human capital investments. Foreign shareholders with sole interest in financial returns have an opposite effect; they reduce wage intensity when firm performance is low.


The Effects Of Ownership And Capital Structure On Board Composition And Strategic Diversification In Japanese Corporations, Toru Yoshikawa, Phillip H. Phan Mar 2005

The Effects Of Ownership And Capital Structure On Board Composition And Strategic Diversification In Japanese Corporations, Toru Yoshikawa, Phillip H. Phan

Research Collection Lee Kong Chian School Of Business

The board of directors plays an important role in solving the agency problem between shareholders and management. This paper investigates the relationships between ownership and board structure with the diversification strategy of large Japanese firms. The results show that corporate nominee directors are associated with lower levels of product diversification of their investee firms. This suggests that nominee directors in large Japanese corporations see themselves representing specific interests and therefore investors should pay attention to board composition in order to assess the level of protection they can expect to receive. Even without any apparent agency problem with management, there remains …


Strategic Management For Economic Development: Remaking The Singapore 'Model', Caroline Yeoh, Wilfred Pow Ngee How Jan 2005

Strategic Management For Economic Development: Remaking The Singapore 'Model', Caroline Yeoh, Wilfred Pow Ngee How

Research Collection Lee Kong Chian School Of Business

The dynamics of international economic competition have far-reaching policy implications for both developing and developed countries. Established industrial and trade policy regimes in most countries are under tremendous strain, and this applies even to the dynamic Newly Industrialising Economies (NIEs). The outward-oriented development strategies of the Asian NIEs, which once seemed unbeatable, have run up against protectionist barriers in the developed countries, and increasingly, against competitive pressures from other up and coming developing countries. Governments in these NIEs have had to re-examine accustomed policies and strategies, and search for alternative strategies and programs, in order to re-position their economies for …


Ownership Structure, Investment Behaviour And Firm Performance In Japanese Manufacturing Industries, Eric Gedajlovic, Toru Yoshikawa, Motomi Hashimoto Jan 2005

Ownership Structure, Investment Behaviour And Firm Performance In Japanese Manufacturing Industries, Eric Gedajlovic, Toru Yoshikawa, Motomi Hashimoto

Research Collection Lee Kong Chian School Of Business

Using data spanning the 1996-98 fiscal years of 247 of Japan's largest manufacturers, we empirically evaluate the extent to which a firm's investment behaviour and financial performance are influenced by its ownership structure. To do so, we examine six distinct categories of Japanese shareholders: foreign investors, investment funds, pension funds, banks and insurance companies, affiliated companies and insiders. Our findings strongly indicate that the relationship between the equity stakes of a particular category of investor and a firm' s financial performance and investment behaviour is considerably more complex than is depicted in simple principal-agent representations. Such a result emphasizes the …


Understanding Business Group Performance In An Emerging Economy: Acquiring Resources And Capabilities In Order To Prosper, Daphne W. Yiu, Garry D. Bruton, Yuan Lu Jan 2005

Understanding Business Group Performance In An Emerging Economy: Acquiring Resources And Capabilities In Order To Prosper, Daphne W. Yiu, Garry D. Bruton, Yuan Lu

Research Collection Lee Kong Chian School Of Business

The prevalent organizational form in most emerging markets is business groups. These groups have typically been viewed through a transaction cost economics perspective where they are perceived as responses to inefficiencies in the market. However, the evidence to date on what generates a positive business group-performance relationship in such environments is not well understood. This study expands the understanding of business groups by employing the resource-based and institutional theoretical perspectives to examine how groups acquire resources and capabilities to prosper. The empirical evidence is based on over 224 business groups in the emerging economy context of China and shows that …


The Relationship Between Governance Structure And Risk Management Approaches In Japanese Venture Capital Firms, Toru Yoshikawa, Phillip H. Phan, Jonathan Linton Nov 2004

The Relationship Between Governance Structure And Risk Management Approaches In Japanese Venture Capital Firms, Toru Yoshikawa, Phillip H. Phan, Jonathan Linton

Research Collection Lee Kong Chian School Of Business

This paper attempts to understand what drives Japanese venture capital (JVC) fund managers to select either active managerial monitoring or portfolio diversification to manage their firms' investment risks [J. Bus. Venturing 4 (1989) 231]. Unlike U.S. venture capitalists that use active managerial monitoring to gain private information in order to maximize returns [J. Finance 50 (1995) 301], JVCs have traditionally used portfolio diversification to attenuate investment risks [Hamada, Y., 2001. Nihon no Bencha Kyapitaru no Genkyo (Current State of Japanese Venture Capital), Nihon Bencha Gakkai VC Seminar, May 7]. We found that performance pay is positively related to active monitoring …


Watching The Shop From The Front Seat: Determinants Of Venture Capitalists' Representation On The Board, Reddi Kotha, Eli Talmor Nov 2004

Watching The Shop From The Front Seat: Determinants Of Venture Capitalists' Representation On The Board, Reddi Kotha, Eli Talmor

Research Collection Lee Kong Chian School Of Business

Oversight and involvement are essential for a venture capital firm to influence the destiny of the portfolio company. This paper focuses primarily on the venture capital firm’s decision to take a formal responsibility through joining the board. Our study uses a large sample of private British companies that received institutional investment between 1999 and 2002. We examine the determinants of board composition and board size. Contrary to common belief, only 30 % of the companies have any institutional investor (a “VC”) on board. The decision to take a formal board seat is based on the ability to make a contribution: …


The Impact Of Corporate Governance On Value Creation In Entrepreneurial Firms, Wee Liang Tan, Teck Meng Tan Sep 2004

The Impact Of Corporate Governance On Value Creation In Entrepreneurial Firms, Wee Liang Tan, Teck Meng Tan

Research Collection Lee Kong Chian School Of Business

The compliance with codes of corporate governance has become the norm for listed firms all over the world. In most countries, entrepreneurial firms do not have to comply with such codes but it has been argued that such codes should also apply to these small medium enterprises (SMEs). Since corporate governance forms the environment for the internal activities of a company and appropriate environmental conditions are crucial for corporate entrepreneurship to flourish in a company, it is apt that these two topics be discussed in relation with each other. Corporate governance mechanisms may dampen value creation in firms if appropriate …


The Antecedents Of Value Creation In Singapore Corporation, Wee Liang Tan, Teck Meng Tan Sep 2004

The Antecedents Of Value Creation In Singapore Corporation, Wee Liang Tan, Teck Meng Tan

Research Collection Lee Kong Chian School Of Business

The impetus for value creation has led to greater interest in encouraging entrepreneurship within organizations (intrapreneurship). The intrapreneurship literature reveals general agreement that organizational entrepreneurship flourishes where the environmental conditions of an organization are most favorable. However, there is little empirical research examining the relationship of the organizational climate and the intentions of employees to be intrapreneurs, and their actual participation in such activities. This paper reports a study on the elements of organizational climate on intrapreneurship attitudes, intentions and actions on the part of middle managers in corporations in Singapore.


Intelligence Strategy: The Evolution And Co-Evolution Dynamics Of Intelligent Human Organizations And Their Interacting Agents, Thow Yick Liang Jun 2004

Intelligence Strategy: The Evolution And Co-Evolution Dynamics Of Intelligent Human Organizations And Their Interacting Agents, Thow Yick Liang

Research Collection Lee Kong Chian School Of Business

In the knowledge economy, the human minds are the most vital center of analysis. They are the complex adaptive systems capable of processing information, establishing knowledge structure, conceptualizing idea, and making decision. The intrinsic intelligence of the individual minds, as well as the organizational/ collective intelligence, drives the dynamic of all human systems. Primarily, the local self-enrichment processes of the interacting agents are autopoietic. In addition, global forces are also present in all human organizations. The global forces are constructive only if they support the elementary processes. The global forces originate from the orgmind of the organization. A complex relationship …


Strategy Viewed From A Management Fashion Perspective, Timothy Adrian Robert Clark Mar 2004

Strategy Viewed From A Management Fashion Perspective, Timothy Adrian Robert Clark

Research Collection Lee Kong Chian School Of Business

This article argues for the greater inclusion of external agents within strategy research. Drawing on the emergent management fashion literature, it conceives of these as a group of actors operating within a management fashion‐setting arena. The outputs of this community dominate conceptions of what are deemed legitimate strategic actions. They thus have a critical, if presently neglected, impact on the nature strategy. The roles of the members of the management fashion‐setting community are described and three promising areas of research outlined.


Effects Of Board Structure On Firm Performance: A Comparison Of Japan And Australia, Ingrid Bonn, Toru Yoshikawa, Phillip H. Phan Mar 2004

Effects Of Board Structure On Firm Performance: A Comparison Of Japan And Australia, Ingrid Bonn, Toru Yoshikawa, Phillip H. Phan

Research Collection Lee Kong Chian School Of Business

This article compares the effects of board size, proportion of female directors, proportion of outside directors and average age of directors on firm performance in Japanese and Australian firms. We found that board size and age of directors were negatively associated with the performance of Japanese firms. For Australian firms, outsider ratio and female director ratio were positively associated with performance.