Articles

Beyond boundary spanners: The ‘collective bridge’ as an efficient interunit structure for transferring collective knowledge

Z. J. ZHAO, J. ANAND

Strategic Management Journal

décembre 2013, vol. 34, n°13, pp.1513-1530

Départements : Stratégie et Politique d’Entreprise

Mots clés : Knowledge transfer, Collective knowledge complexity, Boundary spanners, Collective bridge, Organizational structures


Category stretching: Reorienting research on categories in strategy, entrepreneurship, and organization theory

R. DURAND, L. PAOLELLA

Journal of Management Studies

septembre 2013, vol. 50, n°6, pp.1100-1123

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : Categories, Causal-model theory, Goal-based approach, Prototype

http://ssrn.com/abstract=1978917


We advocate for more tolerance in the manner we collectively address categories and categorization in our research. Drawing on the prototype view, organizational scholars have provided a 'disciplining' framework to explain how category membership shapes, impacts, and limits organizational success. By stretching the existing straightjacket of scholarship on categories, we point to other useful conceptualizations of categories ' i.e. the causal-model and the goal-based approaches of categorization ' and propose that depending on situational circumstances, and beyond a disciplining exercise, categories involve a cognitive test of congruence and a goal satisfying calculus. Unsettling the current consensus about categorical imperatives and market discipline, we suggest also that audiences may tolerate more often than previously thought organizations that blend, span, and stretch categories. We derive implications for research about multi-category membership and mediation in markets, and suggest ways in which work on the theme of categories in the strategy, entrepreneurship, and managerial cognition literatures can be enriched

Corporate Governance and Value Creation: Evidence from Private Equity

V. Acharya, O. GOTTSCHALG, M. Hahn, C. Kehoe

Review of Financial Studies

février 2013, vol. 26, n°2, pp.368-402

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : Leveraged buyouts (LBO), Management buyouts (MBO), Active ownership, Activism, Management turnover, Alpha

http://ssrn.com/abstract=1324016


We examine deal-level data from 395 private equity transactions in Western Europe initiated by large private equity houses during the period 1991 to 2007. We un-lever the deal-level equity return and adjust for un-levered return to quoted peers to extract a measure of abnormal performance of the deal. The abnormal performance is significantly positive on average, and stays positive in periods with low sector returns. In the cross-section of deals, higher abnormal performance is related to greater growth in sales and greater improvement in EBITDA to sales ratio (margin) during the private phase, relative to those of quoted peers. Finally, we show that general partners with an operational background (ex-consultants or ex-industry-managers) generate significantly higher outperformance in organic deals that focus exclusively on internal value creation programs; in contrast, general partners with a background in finance (ex-bankers or ex-accountants) generate higher outperformance in deals with significant M&A events. We interpret these findings as evidence, on average, of positive, but heterogeneous skills at deal partner level in private equity transactions

Decentralization and contracting out: A new pattern for internal and external boundaries of the firm

G. Chanson, B. QUÉLIN

European Management Journal

décembre 2013, vol. 31, n°6, pp.602-612

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : Boundaries of the firm, Centralization, Contracting out, Central services

http://ssrn.com/abstract=2294841


This paper is devoted to the pattern of activity within large companies, through the two criteria of decentralization and contracting out. Our goal is to understand whether the determinants are identical for both internal and external boundaries of the firm. One literature stream contributes to the analysis of the internal structure and organization of divisional companies, studying the functions assigned to headquarters or divisions. Another part of the literature has focused on the boundaries of the firm issues and the firm’s core activities. Few works are at the junction of these two traditions. This study builds on an empirical study dedicated to the book publishing industry. Our analysis leads to discuss determinants of internal and external borders. We show that functions or activities with high potential of economies of scale are mainly centralized and internalized. On reverse, those related to core business and non-programmable functions are mostly at divisional level and contracted out

Does pre-entry licensing undermine the performance of subsequent independent activities? Evidence from the global aerospace industry, 1944-2000

L. Mulotte, P. DUSSAUGE, W. Mitchell

Strategic Management Journal

mars 2013, vol. 34, n°3, pp.358-372

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : New business entry, Licensing, Experiential learning, Overconfidence, Causal ambiguity


We study how firms' use of in-licensing for their initial entry to a business domain can detract from the performance of their subsequent autonomous endeavors in the domain. We argue that in-licensing produces high levels of causal ambiguity about factors that drive the performance achieved with the licensed product. In turn, the experience that firms gather through pre-entry licensing is likely to generate superstitious learning and overconfidence that undermine the performance of licensees' subsequent independent operations. The biases will be particularly strong in the face of contextual dissimilarity. We find consistent evidence in a study of firms that entered the global aircraft industry between 1944 and 2000. The research helps advance the understanding of the benefits and costs of markets for technology

Dynamics of retail-bank branching in Antwerp (Belgium) 1991–2006: Evidence from micro-geographic data

M. HUYSENTRUYT, E. LEFEVERE, C. MENON

Journal of Banking & Finance

février 2013, vol. 37, n°2, pp.291-304

Départements : Stratégie et Politique d’Entreprise

Mots clés : Location, Retail-banking, Poverty, Spatial statistics

https://www.sciencedirect.com/science/article/pii/S0378426612002609


We exploit a comprehensive new panel dataset on retailbank branch locations in 233 neighborhoods (local markets) in the metropolitan area of Antwerp to describe (i) how between 1991 and 2006 the patterns of bank presence, entry, exit and choice deeply evolve and (ii) whether and how changes in these “on the ground” patterns systematically diverge across Antwerp’s different, highly segregated neighborhoods. We show that over the 15-year period under study entry and exit dynamics substantially intensify, the level change in branch desert grows significantly, and bank choice markedly declines; and that between 1996 and 2001, these changes are robustly associated with the neighborhood average income. In doing so, we advance a new technique for generating spatial measures that both minimize the discretization bias and can be reliably linked to neighborhoods. We demonstrate that the resulting measures are indeed more precise than traditional count measures

Earning Manipulation and Expected Returns

M. D. BENEISH, C. LEE, D. NICHOLS

Financial Analysts Journal

avril 2013, vol. 69, n°2

Départements : Stratégie et Politique d’Entreprise

http://ssrn.com/abstract=2241717


Fast-Mover Advantages: Speed Capabilities and Entry into the Emerging Submarket of Atlantic Basin LNG

A. Hawk, G. PACHECO DE ALMEIDA, B. Yeung

Strategic Management Journal

décembre 2013, vol. 34, n°13, pp.1531-1550

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : Firm capabilities, First-mover advantages, New market entry, Strategy dynamics, Speed, Project management


Entry timing benefits and costs typically vary with firms' capabilities. In this study, we empirically examine the entry timing implications of firms' intrinsic speed capabilities, which refer to the ability to execute investment projects faster than competitors. We hypothesize that firms with intrinsic speed capabilities face low preemption risks and, thus, can afford to wait longer for uncertainty resolution before deciding to enter new markets. This hypothesis is more applicable when investment is associated with higher levels of commitment and, thus, greater option value of waiting. A direct implication is that late entrants with intrinsic speed capabilities should have greater expected post-entry performance. We find support for these hypotheses in the Atlantic Basin liquefied natural gas (LNG) industry from 1996 to 2007

Feeling unsure: quit or stay? Uncovering heterogeneity in employees' intention to leave in Indian call centers

D. Das, A. M. NANDIALATH, R. Mohan

The International Journal of Human Resource Management

janvier 2013, vol. 24, n°1, pp.15-34

Départements : Stratégie et Politique d’Entreprise

Mots clés : call center; intention to leave; latent class analysis


Employee turnover remains to be one of the biggest human resource problems facing theIndian international call center industry. This paper aims to provide a comprehensivestudy of how the attitudes of call center employees toward different aspects of their workaffect their intention to leave. Our specific contribution to the literature is inunderstanding the heterogeneity among employees and how this affects meaningfulinference in studying employees’ intention to leave. To achieve this goal, we compare andcontrast between traditional ordinary least squares regression models that have been usedin the extant literature with latent class analysis. Latent class analysis suggests thepresence of three distinct groups of employees, thus confirming the heterogeneity presentin the data. The three groups can be represented as the two polar groups, one keen onstaying and the other keen on leaving, and a significantly large third group of employeeswho are unsure.We also find that the impact of different attitudes vary between groups interms of both economic significance (magnitude of coefficients), and statisticalsignificance. This study throws important light on the research on turnover and hassignificant research and practical implications

Gender stereotyping in Indian recruitment advertisements: a content analysis

R. ANAND

International Journal of Business Governance and Ethics

2013, vol. 8, n°4, pp.306-322

Départements : Stratégie et Politique d’Entreprise



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