Business group affiliation and firm performance: The role of organizational psychological capital

IF 10.5 1区管理学 Q1 BUSINESS Journal of Business Research Pub Date : 2024-11-04 DOI:10.1016/j.jbusres.2024.115040

Santosh Kumar Tiwari , Swati Ghulyani , Rihana Shaik , Ajai Gaur , Ranjeet Nambudiri

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Abstract

The relation between business group (BG) affiliation and firm performance has been a subject of scholarly debate, marked by conflicting evidence about the impact of BG affiliation. Despite the advantages of business groups for affiliated firms, the utilization of these advantages to outperform standalone firms remains unclear. Grounded in a resource-based view (RBV), this study explores the role of Organizational Psychological Capital (OPC) as a mediating mechanism influencing BG affiliation and firm performance relationship, particularly within emerging economies. Using the generalized method of moments (GMM) estimator for 211 listed Indian listed firms from 2007 to 2017, our findings highlight the role of OPC as an outcome of BG affiliation. Further, the study shows the mediating effect of OPC in the BG affiliation and firm performance relationship. This relation is explained by identifying how OPC functions as a key intervening phenomenon, thereby recognizing OPC as a vital intangible resource for BG affiliated firms.

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企业集团从属关系与公司业绩：组织心理资本的作用

商业集团（BG）关联与公司业绩之间的关系一直是学术界争论的主题，有关商业集团关联影响的证据相互矛盾。尽管关联企业具有商业集团的优势，但如何利用这些优势来超越独立企业仍不清楚。本研究以基于资源的观点（RBV）为基础，探讨了组织心理资本（OPC）作为影响企业集团关联与企业绩效关系的中介机制的作用，尤其是在新兴经济体中的作用。我们使用广义矩量法（GMM）对 2007 年至 2017 年的 211 家印度上市公司进行了估计，研究结果凸显了 OPC 作为 BG 关联结果的作用。此外，研究还显示了 OPC 在 BG 关联与公司业绩关系中的中介效应。通过确定 OPC 如何作为一种关键的干预现象发挥作用，从而认识到 OPC 是隶属于 BG 的公司的一种重要的无形资源，从而解释了这种关系。

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来源期刊

Journal of Business Research BUSINESS-

CiteScore

20.30

自引率

10.60%

发文量

956

期刊介绍： The Journal of Business Research aims to publish research that is rigorous, relevant, and potentially impactful. It examines a wide variety of business decision contexts, processes, and activities, developing insights that are meaningful for theory, practice, and/or society at large. The research is intended to generate meaningful debates in academia and practice, that are thought provoking and have the potential to make a difference to conceptual thinking and/or practice. The Journal is published for a broad range of stakeholders, including scholars, researchers, executives, and policy makers. It aids the application of its research to practical situations and theoretical findings to the reality of the business world as well as to society. The Journal is abstracted and indexed in several databases, including Social Sciences Citation Index, ANBAR, Current Contents, Management Contents, Management Literature in Brief, PsycINFO, Information Service, RePEc, Academic Journal Guide, ABI/Inform, INSPEC, etc.

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