Strategic Management Policy Commons^™

Pre-Acquisition Characteristics Of The Acquirers, Rupendra Paliwal

WCBT Faculty Publications

Existing empirical literature has extensively analyzed post-acquisition performance of the acquirers to evaluate success of the takeover. The academic literature tends to agree that target shareholders benefit from takeovers; however takeovers benefits for acquiring firm’s shareholders have been questioned. A majority of empirical literature indicate acquisition announcements are associated with a decrease in acquiring shareholder’s wealth. While pre-acquisition characteristics of takeover targets have been extensively analyzed, empirical literature has not directly and comprehensively analyzed pre-acquisition financial and operating characteristics of the acquiring firms. In this paper, I examine pre-acquisition operating performance and governance characteristics of acquirers. Results suggest that bidders …

Change And Continuity In Japanese Corporate Governance, Toru Yoshikawa, Jean Mcguire

Research Collection Lee Kong Chian School Of Business

Previous studies on Japanese corporate governance were largely based on the agency theory framework, and can be seen as attempts to understand the unique monitoring mechanisms in the Japanese context. This paper briefly reviews prior research and then discusses the recent changes in the environment that have been affecting Japanese corporate governance. Our central argument is that there is both change and continuity in Japanese Corporate Governance. We also present emerging research from an institutional theory perspective. In this line of research, corporate governance is treated as part of a nation’s institutional framework and hence, researchers need to understand unique …

The Implications Of Debt Heterogeneity For R&D Investment And Firm Performance, Parthiban David, Jonathan P. O'Brien, Toru Yoshikawa

Research Collection Lee Kong Chian School Of Business

An assumption in prior research is that debt is homogeneous and provides inappropriate governance for R&D investments. We argue that debt is heterogeneous: although transactional debt does indeed impose strict contractual constraints that provide inappropriate governance for R&D investments, relational debt has very different characteristics that provide more appropriate governance. Using a sample of Japanese firms, we find that firms that align their debt structures with their R&D investments perform better than those that are misaligned. Furthermore, firms tend to align their debt structure with R&D investments, but only after deregulation permits relatively free access to various types of debt.

2008 Supplement Vol. 2, American Dental Association

ADA Transactions

This item is part of the Supplements subtitle of The ADA Transactions, a serial publication of the annual activities of the ADA House of Delegates (HOD)/Board of Trustees (BOT) made up of three separate subtitles: Annual Reports and Resolutions, Supplements, and the Transactions. Generally, The ADA Transactions are published in multiple volumes throughout the year. The Supplements function like an appendix and are, in more recent editions, numbered separately with page numbers determined by HOD reference committee assignation. Items are described variously as "Supplement #", "Volume #", etc. throughout the series but have been labeled here as Vol. # for …

International Growth Strategies Of Service And Manufacturing Firms: The Case Of Banking And Chemical Industries, Ravi Kathuria, Maheshkumar P. Joshi, Stephanie Dellande

Business Faculty Articles and Research

Purpose

– The purpose of this paper is to examine the differences in growth strategies – domestic and international – of manufacturing and service firms. Hardly any literature exists that empirically investigates the differences on account of the distinctive characteristics of goods and services, and such studies rarely draw from the operations management field.

Design/methodology/approach

– Multiple analysis of variance is used to analyze longitudinal data from multiple secondary sources.

Findings

– Mixed services, such as banks, focus more on domestic growth and less on international growth. Manufacturers, such as chemical firms, focus more on international activities as compared to …

Corporate Citizenship And Community Stakeholders, Robert A. Phillips, R. Edward Freeman

Management Faculty Publications

Stipulating that work on corporate citizenship is intended to add to the conversation around the role of business in society, it is reasonable to assume that scholars adopting (and adapting) the language of corporate citizenship find something there that allows for better description, analysis and synthesis of this role. Though what 'better' may mean here remains an open question, a sensible place to begin considering the question is to compare and contrast corporate citizenship with more established ways of conceiving business's role in society such as, in the case of this chapter, stakeholder theory.

Managing With Foresight And Insight, Christine G. Springer

Public Policy and Leadership Faculty Research

As we begin the New Year, it is important to look at the trends that need to be considered in the future and how or if these driving forces will define what strategic management means in 2008. It is also important to understand that looking to the past alone for guidance may skew our view of present facts even when those facts are supported by sound data. Strategic managers make sense out of what is going on around them and what is possible in the future by looking and listening to forecasts for the future, to what is critical for …

Dublin Visitor Survey 2008 Report, Sheila Flanagan, John Carty, Gerard Dunne

Reports

This report represents a joint research initiative by the Tourism Research Centre and the School of Hospitality Management and Tourism at the Technological University Dublin with the support of Dublin Tourism. The study has been conducted annually since 1999 and has amassed a wealth of rich data over the years. This report highlights the principal 2008 findings from the annual visitor survey including the characteristics and attitudes of out of state tourists visiting Dublin city. The key objectives of the survey are to improve the quality of urban tourism information within a Dublin city context and to provide those engaged …

The Mediating Role Of Psychological Capital In The Supportive Organizational Climate–Employee Performance Relationship, Fred Luthans, Steven M. Norman, Bruce J. Avolio, James B. Avey

Department of Management: Faculty Publications

Although the value of a supportive organizational climate has been recognized over the years, there is a need for better understanding of its relationship with employee outcomes. This study investigates whether the recently emerging core construct of positive psychological capital (consisting of hope, resilience, optimism, and efficacy) plays a role in mediating the effects of a supportive organizational climate with employee outcomes. Utilizing three diverse samples, results show that employees’ psychological capital is positively related to their performance, satisfaction, and commitment and a supportive climate is related to employees’ satisfaction and commitment. The study’s major hypothesis that employees’ psychological capital …

2008 Transactions, American Dental Association

ADA Transactions

This item is part of the Transactions of the ADA, a serial publication of the annual activities of the ADA House of Delegates (HOD)/Board of Trustees (BOT). It is from the Transactions section, one of three subtitles that make up the full publication. Generally, the ADA Transactions are published in multiple volumes throughout the year. Pages from the Annual Reports and the Transactions are numbered consecutively (e.g. Annual Reports volume ends pg. 500 and Transactions volume starts at pg. 501). NOTE: All three subtitles are collectively known as the Transactions of the ADA or, alternatively, the ADA Transactions. Transactions refers …

2008 Supplement Vol. 3, American Dental Association

ADA Transactions

This item is part of the Supplements subtitle of The ADA Transactions, a serial publication of the annual activities of the ADA House of Delegates (HOD)/Board of Trustees (BOT) made up of three separate subtitles: Annual Reports and Resolutions, Supplements, and the Transactions. Generally, The ADA Transactions are published in multiple volumes throughout the year. The Supplements function like an appendix and are, in more recent editions, numbered separately with page numbers determined by HOD reference committee assignation. Items are described variously as "Supplement #", "Volume #", etc. throughout the series but have been labeled here as Vol. # for …

Corruption, Foreign Direct Investment And The Cost Of Doing Business In Vietnam, Tom Arnold, Bonnie Buchanan

Finance Faculty Publications

Corruption is a key impediment to: foreign direct investment, an accurate measurement of political risk, and a barrier to effective corporate governance. By examining the political structure of Vietnam and the impediments created by corruption, this paper defines some of the difficulties with investing in Vietnam. However, with regard to the sugar industry, some solutions have emerged with companies taking direct control of contracting, offering credit, and the building of infrastructure.

The Impact Of A Marketing Information System: A Case Study Of Smart-Baltimore, Tanvi Kothari, D. R. Fesenmaier, Z. Xiang

Faculty Publications, School of Management

The purpose of this study is to use existing theories of technology and organizational change to assess the impact of technology implementation within the context of the tourism industry. The framework is applied as a case study to analyze the perceived implications of implementing a destination marketing information system by the Baltimore Area Convention and Visitors Bureau. The results of the study indicate that the most important value of the system is the richness and timeliness of information. The key informants perceive that this system will not only impact the marketing activities at the organization but will not influence the …

The Role Of The Board And Its Interaction With The Successor's Human Capital In The Asian Family Enterprise, Soo-Hoon Lee, Phillip H. Phan, Toru Yoshikawa

Research Collection Lee Kong Chian School Of Business

This study examined the human and social capital factors associated with higher post-succession firm performance in family enterprises in Singapore. We also investigated the moderating influence of the board of directors in terms of its service role as stewards of the enterprise. We found that a successor's industry experience and diversity of network ties were positively associated with firm performance and boards that focused their role as advisors to the successor enhanced post-succession firm performance.

Interaction Of The Legitimate System And The Shadow System In Organisations, Caroline Halpin, Philomena Hanlon

Conference papers

This research examines the relationship between the Legitimate and the Shadow Systems in organisations: an interaction that can result in bringing an organisation into a state of bounded instability, and therefore increased creativity and innovation. The Legitimate System consists of the formal hierarchy, bureaucracy, rules, controls and communication patterns in an organisation. A properly functioning Legitimate System is vital for the conduct of business in an organisation in order to ensure its survival and efficiency. The Shadow System is a term coined by Stacey (1997) to describe the informal network of relations within the organisations that are evident in casual …

The Theory Of The Growth Of The Firm, By Edith T. Penrose. Oxford: Blackwell, 1959 (Book Review), Anil Nair, Joseph Trendowski, William Judge

Management Faculty Publications

[First paragraph] A review (in the pages of this journal) of a book published nearly fifty years ago may appear unusual; not unless the book has become a “classic”. Indeed, many organizational scholars (e.g, Pitelis, 2002) view it as a seminal text for the resource-based view of the firm - arguably one of the dominant theoretical perspectives in strategic management research today.

Technology Strategy And China's Technology Capacity Building, Arnoud De Meyer

Research Collection Lee Kong Chian School Of Business

China has the potential to become a major source of innovation for the world. The scientific investment is in place and rapidly growing. But in order to reap the benefits of this investment its organisations will have to become better at managing innovation. One of the key elements of innovation management is the determination and implementation of a sound technology strategy. The purpose of this paper is to offer a framework and a detailed overview of what it entails to develop and implement a technology strategy. The paper emphasizes the alignment of the strategy with the organisational competencies and the …

Commercialization Of Science: A Longitudinal Study Of Knowledge Distance, Firm Capabilities, And The Structure Of Licensing Contracts, Reddi Kotha, Gerard George

Research Collection Lee Kong Chian School Of Business

Though the popularity of research on technology transfer offices (TTOs) has vastly increased, there is little empirical evidence of how the potential value for a technology is estimated and negotiated in a license. Limited qualitative work and empirical work (e.g., Owen-Smith, 2005) tap into the underlying decisions before a technology can be licensed. Consequently, we know very little on how a particular technology is valued and its impact on contract design. In this study, we analyze the content, design, and performance of 847 licensing contracts between university technology transfer offices and firms.

Too Little Or Too Much? Untangling The Relationship Between Corporate Philanthropy And Corporate Financial Performance, Heli Wang, Jaepil Choi, Jiatao Li

Research Collection Lee Kong Chian School Of Business

What is the relationship between corporate philanthropy and corporate financial performance? Some scholars argue that corporate philanthropy facilitates stakeholder cooperation and helps secure access to critical resources controlled by those stakeholders, suggesting that corporate philanthropy should be positively associated with corporate financial performance. In contrast, other scholars take a negative stance, suggesting that corporate philanthropy diverts valuable corporate resources and tends to inhibit corporate financial performance. Existing empirical studies have not found conclusive evidence on the corporate philanthropy-financial performance relationship. Integrating and extending existing perspectives, this study develops the argument that the relationship between corporate philanthropy and financial performance is …

When Asian Small And Medium-Sized Family Firms Spread Their Wings, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Making Great People Decisions Is The Toughest Business Challenge Say Top Executives, Knowledge@Smu

Knowledge@SMU

Where great people decisions are concerned, the right person in a leadership position can take an organisation to greater heights, but the wrong candidate can steer a path to disaster. Founding leader of global search firm Egon Zehnder International, Claudio Fernandez-Araoz, introduced his new book, Great People Decisions, recently at a Singapore Management University Distinguished Public Lecture, followed by a panel discussion featuring top executives in Singapore.

International New Ventures: Revisiting The Influences Behind The 'Born-Global' Firm, Terence P. C. Fan, Phillip Phan

Research Collection Lee Kong Chian School Of Business

There is a small but theoretically important literature on 'born-globals' or international new venture firms that positions itself in contrast to the more established sequential international entry literature. In this paper we examine the pattern of entry into international markets for a set of international new ventures and show that they need not be a distinct breed of firms, as previous research has portrayed. Absent a specific technological advantage, the decision for a new venture to internationalize at inception is influenced by the size of its home market and by its production capacity, as well as by cultural and economic …

Business Groups: An Integrated Model To Focus Future Research, Daphne W. Yiu, Yuan Lu, Garry D. Bruton, Robert E. Hoskisson

Research Collection Lee Kong Chian School Of Business

Business groups are the primary form of managing large business organizations outside North America. This paper provides a systematic and integrative framework for understanding business groups. We argue that existing theoretical perspectives of business groups pay attention to four critical external contexts, each of which draws from a specific theoretical perspective: market conditions (transaction cost theory), social relationships (relational perspective), political factors (political economy perspective), and external monitoring mechanisms (agency theory). Business groups adapt to these external forces by deploying various internal mechanisms along two key dimensions: one focuses on the distinctive roles of the group affiliates (horizontal connectedness) and …

Japanese Corporate Governance: Structural Change And Financial Performance, Asli M. Colpan, Toru Yoshikawa, Takashi Hikino, Hiroaki Miyoshi

Research Collection Lee Kong Chian School Of Business

This paper analyzes institutional and legal changes related to corporate governance and their impact on financial performance in Japan since the second half of the 1990s. We attempt to address two issues systematically: (1) how much the governance reforms of Japanese firms transformed the conventional system of alliance capitalism and managerial control; and (2) what economic outcomes those governance changes have yielded. As the Commercial Code and other legal and institutional frameworks were revised, Japanese firms experienced shifts in terms of stock ownership, corporate control and managerial organizations. Our empirical results show that the influence of new ownership composition and …

The Promise Of A Managerial Values Approach To Corporate Philanthropy, Jaepil Choi, Heli Wang

Research Collection Lee Kong Chian School Of Business

This article presents an alternative rationale for corporate philanthropy based on managerial values of benevolence and integrity. On the one hand, top managers with benevolence and integrity values are more likely to spread their intrinsic concern for others into the wider society in the form of corporate philanthropy. On the other hand, top managers high in benevolence and integrity are likely to contribute to improved managerial credibility and trusting firm-stakeholder relationships, thereby improving corporate financial performance. Therefore, the article makes the argument that both corporate philanthropy and corporate financial performance can better be interpreted as resulting from managers’ benevolence and …

Managing Through Strategic Agendas, Christine G. Springer

Public Policy and Leadership Faculty Research

The author discusses the development of the Balanced Scorecard and strategic agendas on solving social and economic problems by the government. She stated reasons why organizations or countries choose to establish strategic agendas, such as it helps develop a vision, serves as a framework for monitoring government and nonprofit performance, and develops political platform. She concluded that its establishment is vital to success in developing countries and in the federal system of government.

Corporate Governance Reform As Institutional Innovation: The Case Of Japan, Toru Yoshikawa, Lai Si Tsui-Auch, Jean Mcguire

Research Collection Lee Kong Chian School Of Business

To address the convergence-divergence debate in corporate governance, we conduct a multiple-case, multiple-level study to analyze the diffusion of governance innovation in Japan. We argue that Japanese systems of corporate governance neither fully converge to, nor completely diverge from, the Anglo-American model. Rather, Sony-the pioneer of corporate governance reforms-and its followers selectively adopted features from this model, decoupled them from the original context, and tailored them to fit to their own situations to generate governance innovation. However, we find that the spread of innovation across firms and institutional levels is far from linear and straightforward, and that other well-regarded firms …

Putting A Face On Organizational Innovation, Christine G. Springer

Public Policy and Leadership Faculty Research

The article discusses the author's view on the importance of fostering continuous innovation and renewal in public agencies for the success in public management. The author shares that she has come to understand that there are 15 types of teams and individuals that feed innovation inside organizations, outsiders and insiders. She said that by developing such innovation personalities, public managers have the chance to support new concepts in improving processes.

Research On Development Strategy Of New Oriental Based On Cooperation Between Laingyungang Port And China Shipping, Yizhou Wei

World Maritime University Dissertations

No abstract provided.

Strategic Research On The Construction Of Tianjin Northern International Shipping Center, Zongna Li

World Maritime University Dissertations

No abstract provided.