With the worldwide growth of mergers and acquisitions (M&As), a number of studies in recent years have called their relative success into question. One reason for the poor performance of a number of deals may be negative employee reactions, such as employee turnover. Despite the widespread perception that M&As often lead to employee turnover, there is surprisingly weak empirical support provided in the literature. In particular, we know notably little regarding the characteristics of those who are departing. In this study, I address this gap by using a unique dataset resulting from the merger of Bureau Van Dijk’s Zephyr M&As database and Danish register data. Additionally, I explore the heterogeneous effect of different types of M&As across employee groups. I find that M&As generally increase the probability of employee turnover, particularly for employees with relatively low human capital. Nevertheless, the effect varies significantly for different types of M&A.
随着全球并购的增长，近年来的一些研究对并购的相对成功提出了质疑。许多交易表现不佳的一个原因可能是员工的负面反应，比如员工离职。尽管人们普遍认为并购经常导致员工离职，但文献中提供的实证支持却令人惊讶地薄弱。特别是，我们对那些即将离开的人的特征所知甚少。在本研究中，我通过使用由Bureau Van Dijk的Zephyr并购数据库和丹麦注册数据合并而成的独特数据集来解决这一差距。此外，我还探讨了不同类型的并购在员工群体中的异质效应。我发现，并购通常会增加员工离职的可能性，尤其是对于人力资本相对较低的员工。然而，对于不同类型的并购，其效果存在显著差异。
{"title":"M&A and Employee Turnover: Who’s Leaving?","authors":"Juan Martin Carriquiry","doi":"10.2139/ssrn.2903220","DOIUrl":"https://doi.org/10.2139/ssrn.2903220","url":null,"abstract":"With the worldwide growth of mergers and acquisitions (M&As), a number of studies in recent years have called their relative success into question. One reason for the poor performance of a number of deals may be negative employee reactions, such as employee turnover. Despite the widespread perception that M&As often lead to employee turnover, there is surprisingly weak empirical support provided in the literature. In particular, we know notably little regarding the characteristics of those who are departing. In this study, I address this gap by using a unique dataset resulting from the merger of Bureau Van Dijk’s Zephyr M&As database and Danish register data. Additionally, I explore the heterogeneous effect of different types of M&As across employee groups. I find that M&As generally increase the probability of employee turnover, particularly for employees with relatively low human capital. Nevertheless, the effect varies significantly for different types of M&A.","PeriodicalId":174886,"journal":{"name":"Strategy & Organizational Behavior eJournal","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132623054","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Family planning plays a central role in contemporary population policies. However, little is known about its long-term consequences in old age because of the identification challenge. In this study, we examine how family planning affects the quality of life of the Chinese elderly. The direction of the effect is theoretically unclear. On the one hand, having fewer children allows parents to reallocate more resources to themselves, improving their well-being. On the other hand, having fewer children also leads to less care and companionship from children in old age. To empirically probe the effect of family planning, we identify the causal impact by exploiting the provincial heterogeneity in implementing the “Later, Longer, Fewer” policies in the early 1970s. We find that the policies greatly reduced the number of children born to each couple by 0.85. Parents also receive less support from children in terms of living arrangements, inter vivos transfers, and emotional support. Finally, we find that family planning has drastically different effects on elderly parent's physical and mental well-being. Whereas parents who are more exposed to the family planning policies consume more and enjoy slightly better physical health status, they report more severe depression symptoms. Our study calls for greater attention to the mental health status of the Chinese elderly.
{"title":"The Long-Term Consequences of Having Fewer Children in Old Age: Evidence from China's 'Later, Longer, Fewer' Campaign","authors":"Yi Chen, Hanming Fang","doi":"10.2139/ssrn.3245655","DOIUrl":"https://doi.org/10.2139/ssrn.3245655","url":null,"abstract":"Family planning plays a central role in contemporary population policies. However, little is known about its long-term consequences in old age because of the identification challenge. In this study, we examine how family planning affects the quality of life of the Chinese elderly. The direction of the effect is theoretically unclear. On the one hand, having fewer children allows parents to reallocate more resources to themselves, improving their well-being. On the other hand, having fewer children also leads to less care and companionship from children in old age. To empirically probe the effect of family planning, we identify the causal impact by exploiting the provincial heterogeneity in implementing the “Later, Longer, Fewer” policies in the early 1970s. We find that the policies greatly reduced the number of children born to each couple by 0.85. Parents also receive less support from children in terms of living arrangements, inter vivos transfers, and emotional support. Finally, we find that family planning has drastically different effects on elderly parent's physical and mental well-being. Whereas parents who are more exposed to the family planning policies consume more and enjoy slightly better physical health status, they report more severe depression symptoms. Our study calls for greater attention to the mental health status of the Chinese elderly.","PeriodicalId":174886,"journal":{"name":"Strategy & Organizational Behavior eJournal","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115340978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Bartley Madden, a leading management consultant and author, follows up after Edmund Phelps' leading article on innovation and mass flourishing with specific recommendations for business managers.Madden identifies a firm's knowledgebuilding proficiency as its most important capability in order to survive and prosper over the long term. Even a firm's competitive advantage and intangible assets are best understood as the result of its ability to build knowledge. Along with a firm's organizational structure, knowledge‐building proficiency coordinates and improves work, innovation, and resource allocation.Madden is very critical of much of the current academic finance research that, while ostensibly focused what creates “excess shareholder returns” (i.e., economic profit or economic value‐added), is actually irrelevant to a fundamental understanding of what creates long‐term value.Academic studies are usually just statistical factor analyses. Even when economists study individual firms, they usually do so by modeling them simply as production functions: management is assumed to coordinate factors of production to make and sell products until marginal costs equal marginal revenue and profits are maximized. Such a firm is assumed to have clear boundaries and its management tightly controls the work of employees and the accumulation and allocation of its physical assets.Instead, Madden proposes a new and more sophisticated concept of the firm to position human capital, in general, and knowledge‐building proficiency, in particular, at the center of value creation. In this connection he offers two business exemplars: the American retailer Walmart and the Chinese Haier Group that makes consumer electronics and home appliances.
{"title":"Management's Key Responsibility","authors":"Bartley J. Madden","doi":"10.2139/ssrn.3210995","DOIUrl":"https://doi.org/10.2139/ssrn.3210995","url":null,"abstract":"Bartley Madden, a leading management consultant and author, follows up after Edmund Phelps' leading article on innovation and mass flourishing with specific recommendations for business managers.Madden identifies a firm's knowledgebuilding proficiency as its most important capability in order to survive and prosper over the long term. Even a firm's competitive advantage and intangible assets are best understood as the result of its ability to build knowledge. Along with a firm's organizational structure, knowledge‐building proficiency coordinates and improves work, innovation, and resource allocation.Madden is very critical of much of the current academic finance research that, while ostensibly focused what creates “excess shareholder returns” (i.e., economic profit or economic value‐added), is actually irrelevant to a fundamental understanding of what creates long‐term value.Academic studies are usually just statistical factor analyses. Even when economists study individual firms, they usually do so by modeling them simply as production functions: management is assumed to coordinate factors of production to make and sell products until marginal costs equal marginal revenue and profits are maximized. Such a firm is assumed to have clear boundaries and its management tightly controls the work of employees and the accumulation and allocation of its physical assets.Instead, Madden proposes a new and more sophisticated concept of the firm to position human capital, in general, and knowledge‐building proficiency, in particular, at the center of value creation. In this connection he offers two business exemplars: the American retailer Walmart and the Chinese Haier Group that makes consumer electronics and home appliances.","PeriodicalId":174886,"journal":{"name":"Strategy & Organizational Behavior eJournal","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129642505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Stone, Eleni Aravopoulou, Gherardo G. G. Girardi, Luisa Weinzierl, Paul Laughlin, Ryan Stott, E. Todeva
Purpose The purpose of this paper is to explain how ecosystems and platforms have evolved to manage customer information and to identify the management, research and teaching implications of this evolution. Design/methodology/approach This paper is based on research and industrial experience of two of the co-authors in customer relationship management, further developed with other co-authors in the field of business models, the research and teaching experience of the university authors and cross-functional literature reviews in the areas of strategy, marketing, economics, organizational behaviour and information management. Findings This paper shows that digitalization, cloud computing and new information-based platforms are beginning to change how customer information is being managed, creating new opportunities for improving marketing, customer relationship management and business strategy. Research limitations/implications The impact of platforms on the management of customer information needs to be confirmed by primary empirical research. Practical implications This paper identifies the need for senior marketing management to examine closely how internal and external/public customer information platforms may enhance their capability for managing customers and setting new strategic directions. Social implications The emergence of giant multi-sided platforms has clear implications for data protection and privacy, which need to be explored more in research. Originality/value This paper highlights the move to customer information platforms and identifies how senior managers should consider them as an option for better customer information management and as a basis for new business strategies.
{"title":"How Platforms are Transforming Customer Information Management","authors":"M. Stone, Eleni Aravopoulou, Gherardo G. G. Girardi, Luisa Weinzierl, Paul Laughlin, Ryan Stott, E. Todeva","doi":"10.1108/BL-08-2017-0024","DOIUrl":"https://doi.org/10.1108/BL-08-2017-0024","url":null,"abstract":"Purpose \u0000 \u0000 \u0000 \u0000 \u0000The purpose of this paper is to explain how ecosystems and platforms have evolved to manage customer information and to identify the management, research and teaching implications of this evolution. \u0000 \u0000 \u0000 \u0000 \u0000Design/methodology/approach \u0000 \u0000 \u0000 \u0000 \u0000This paper is based on research and industrial experience of two of the co-authors in customer relationship management, further developed with other co-authors in the field of business models, the research and teaching experience of the university authors and cross-functional literature reviews in the areas of strategy, marketing, economics, organizational behaviour and information management. \u0000 \u0000 \u0000 \u0000 \u0000Findings \u0000 \u0000 \u0000 \u0000 \u0000This paper shows that digitalization, cloud computing and new information-based platforms are beginning to change how customer information is being managed, creating new opportunities for improving marketing, customer relationship management and business strategy. \u0000 \u0000 \u0000 \u0000 \u0000Research limitations/implications \u0000 \u0000 \u0000 \u0000 \u0000The impact of platforms on the management of customer information needs to be confirmed by primary empirical research. \u0000 \u0000 \u0000 \u0000 \u0000Practical implications \u0000 \u0000 \u0000 \u0000 \u0000This paper identifies the need for senior marketing management to examine closely how internal and external/public customer information platforms may enhance their capability for managing customers and setting new strategic directions. \u0000 \u0000 \u0000 \u0000 \u0000Social implications \u0000 \u0000 \u0000 \u0000 \u0000The emergence of giant multi-sided platforms has clear implications for data protection and privacy, which need to be explored more in research. \u0000 \u0000 \u0000 \u0000 \u0000Originality/value \u0000 \u0000 \u0000 \u0000 \u0000This paper highlights the move to customer information platforms and identifies how senior managers should consider them as an option for better customer information management and as a basis for new business strategies.","PeriodicalId":174886,"journal":{"name":"Strategy & Organizational Behavior eJournal","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116558725","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Some strategic decisions will long be remembered for being remarkably successful, providing dramatic benefits to customers, investors, or social welfare. The individuals who make these decisions are often called “visionary.” But what enables some people to be visionary? Is it a gift or skill, and can it be learned? In this paper I identify three main cognitive processes that underlie the creation of visionary strategy: abstraction, idealism, and long paths of analytical reasoning. Using a combination of examples and cognitive science, I explain how they work individually and in combination, and how they may be cultivated.
{"title":"The Cognitive Foundations of Visionary Strategy","authors":"Melissa A. Schilling","doi":"10.1287/STSC.2017.0044","DOIUrl":"https://doi.org/10.1287/STSC.2017.0044","url":null,"abstract":"Some strategic decisions will long be remembered for being remarkably successful, providing dramatic benefits to customers, investors, or social welfare. The individuals who make these decisions are often called “visionary.” But what enables some people to be visionary? Is it a gift or skill, and can it be learned? In this paper I identify three main cognitive processes that underlie the creation of visionary strategy: abstraction, idealism, and long paths of analytical reasoning. Using a combination of examples and cognitive science, I explain how they work individually and in combination, and how they may be cultivated.","PeriodicalId":174886,"journal":{"name":"Strategy & Organizational Behavior eJournal","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116481665","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Brandon H. Lee, Jeroen Struben, Christopher B. Bingham
Research Summary: While extant research recognizes the importance of collective action for market formation, it provides little understanding about when and to what extent collective action is important. In this article, we develop a novel theoretical framework detailing what collective action problems and solutions arise in market formation and under what conditions. Our framework centers on the development of market infrastructure with three key factors that influence the nature and extent of collective action problems: perceived returns to contributions, excludability, and contribution substitutability. We apply our framework to diverse market formation contexts and derive a set of attendant propositions. Finally, we show how collective action problems and solutions evolve during market formation efforts and discuss how our framework contributes to strategic management, entrepreneurship, and organization literatures. Managerial Summary: This article lays out the key considerations that players operating in new markets should contemplate when making nontrivial investments in those spaces. As collective action problems can thwart efforts to establish new markets, we ask: When and under what conditions should market players collaborate rather than act independently? And if players collaborate, how should they coordinate to establish a new market? To address these research questions, we develop a novel generalizable framework of collective action in market formation. Our framework assesses the presence and type of collective action problems that hinder market formation and identifies potential solutions tied to those collective action problems.
{"title":"Collective Action and Market Formation: An Integrative Framework","authors":"Brandon H. Lee, Jeroen Struben, Christopher B. Bingham","doi":"10.1002/SMJ.2694","DOIUrl":"https://doi.org/10.1002/SMJ.2694","url":null,"abstract":"Research Summary: While extant research recognizes the importance of collective action for market formation, it provides little understanding about when and to what extent collective action is important. In this article, we develop a novel theoretical framework detailing what collective action problems and solutions arise in market formation and under what conditions. Our framework centers on the development of market infrastructure with three key factors that influence the nature and extent of collective action problems: perceived returns to contributions, excludability, and contribution substitutability. We apply our framework to diverse market formation contexts and derive a set of attendant propositions. Finally, we show how collective action problems and solutions evolve during market formation efforts and discuss how our framework contributes to strategic management, entrepreneurship, and organization literatures. Managerial Summary: This article lays out the key considerations that players operating in new markets should contemplate when making nontrivial investments in those spaces. As collective action problems can thwart efforts to establish new markets, we ask: When and under what conditions should market players collaborate rather than act independently? And if players collaborate, how should they coordinate to establish a new market? To address these research questions, we develop a novel generalizable framework of collective action in market formation. Our framework assesses the presence and type of collective action problems that hinder market formation and identifies potential solutions tied to those collective action problems.","PeriodicalId":174886,"journal":{"name":"Strategy & Organizational Behavior eJournal","volume":"2012 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114674185","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Viswanadham Silaparasetti, G. Rao, Firdouse R Khan
Purpose: The study aims to examine and evaluate the impact of five Occupational Health and Safety (OHS) factors, i.e., Commitment of management, Communication, Training & Education, Health Care and Policies in predicting construction workers’ behavior in construction projects of Oman. Design/methodology/approach : A questionnaire was designed, and data was collectedon arandom sampling basis. Two hundred and fifty-twosamples were collected, and the data was analyzed using Smart PLS -Structural Equation Modeling (SEM) technique. Findings: The study shows thatCommitment of management, Communication, and Training &Educationplays a pivotal role in inspiring the construction workers to improve their perception towards Health and Safety behavior. These factors help in theclear-cut understanding of safety issues and aid in skills development and increase capabilities. All the factors influence the sustainable positive OHS results. Research limitations/Implications : The present study covers only the construction workers. Entire stakeholdersinvolved in construction project (contractors, clients, and consultants) canbe includedfor further studies. Social Implications: The study will help to improve the Health and Safety practices in the construction industry and expected to bring in more awareness among workers, which will inevitably bring in a culture of safe behavior. The ultimate result will be asubstantial reduction or elimination in safety-relatedincidents, which helps all the stakeholders (Contractors, Clients and Consultants). Originality/Value: Only a very few have examined the impact of Occupational Health and Safety factors on the workers’ behavior, and usage of SmartPLS is a novel idea, and it is a first-hand study of its kind.
{"title":"Structural Equation Modeling Analysis Using Smart PLS to Assess the Occupational Health and Safety (OHS) Factors on Workers’ Behavior","authors":"Viswanadham Silaparasetti, G. Rao, Firdouse R Khan","doi":"10.18510/HSSR.2017.524","DOIUrl":"https://doi.org/10.18510/HSSR.2017.524","url":null,"abstract":"Purpose: The study aims to examine and evaluate the impact of five Occupational Health and Safety (OHS) factors, i.e., Commitment of management, Communication, Training & Education, Health Care and Policies in predicting construction workers’ behavior in construction projects of Oman. Design/methodology/approach : A questionnaire was designed, and data was collectedon arandom sampling basis. Two hundred and fifty-twosamples were collected, and the data was analyzed using Smart PLS -Structural Equation Modeling (SEM) technique. Findings: The study shows thatCommitment of management, Communication, and Training &Educationplays a pivotal role in inspiring the construction workers to improve their perception towards Health and Safety behavior. These factors help in theclear-cut understanding of safety issues and aid in skills development and increase capabilities. All the factors influence the sustainable positive OHS results. Research limitations/Implications : The present study covers only the construction workers. Entire stakeholdersinvolved in construction project (contractors, clients, and consultants) canbe includedfor further studies. Social Implications: The study will help to improve the Health and Safety practices in the construction industry and expected to bring in more awareness among workers, which will inevitably bring in a culture of safe behavior. The ultimate result will be asubstantial reduction or elimination in safety-relatedincidents, which helps all the stakeholders (Contractors, Clients and Consultants). Originality/Value: Only a very few have examined the impact of Occupational Health and Safety factors on the workers’ behavior, and usage of SmartPLS is a novel idea, and it is a first-hand study of its kind.","PeriodicalId":174886,"journal":{"name":"Strategy & Organizational Behavior eJournal","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115360707","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
English Abstract: Nghiên cứu kiểm định mức độ tác động của các nguồn lực vô hình đến năng lực cạnh tranh động của công ty Dịch vụ Cơ khí Hàng hải (PTSC M&C), bằng việc khảo sát 212 khách hàng. Phương pháp phân tích Cronbach’s Alpha, phân tích EFA cùng với phân tích hồi quy bội được sử dụng với phương tiện SPSS. Kết quả cho thấy mức độ ảnh hưởng của các nguồn lực vô hình đến năng lực cạnh tranh động của PTSC M&C - theo tầm quan trọng giảm dần: Đáp ứng khách hàng và mối quan hệ với đối tác; Thích ứng với môi trường vĩ mô; Định hướng kinh doanh; Năng lực tổ chức dịch vụ; Phản ứng với đối thủ cạnh tranh; Danh tiếng doanh nghiệp; Năng lực sáng tạo; Định hướng học hỏi. Nghiên cứu đề ra một số hàm ý quản trị cho các nhà quản lý PTSC M&C nhằm tăng năng lực cạnh tranh động.
English Abstract: The research investigates how the latent resources affect the dynamic competitive capability of Petrovietnam Technical Services Coporation Mechanical and Construction Ltd. Co. (PTSC M&C), by intervewing 212 customers. The method of Cronbach’s Alpha analysis, EFA analysis and multiple regression analysis were used with the SPSS program. The result shows that the affect of the latent resources on the dynamic competitive capability of PTSC M&C decreasingly: Customer Response and Partner Coordination Capability, Responsiveness to the Change of the Macroenvironment, Entrepreneurial Orientation, Service Organizing Capability, Competitor Responsiveness, Corporate Reputation, Innovativeness Capability, Organizational Learning Capability. The research also suggests some solutions to the PTSC M&C management to enhance dynamic competitive capability.
{"title":"Đo lường năng lực cạnh tranh động của Công ty Dịch vụ Cơ khí Hàng hải (Measuring the Dynamic Competitive Capability of Petrovietnam Technical Services Corporation Mechanical and Construction Ltd. Co.)","authors":"Giao Ha Nam Khanh","doi":"10.2139/ssrn.3688793","DOIUrl":"https://doi.org/10.2139/ssrn.3688793","url":null,"abstract":"<b>English Abstract:</b> Nghiên cứu kiểm định mức độ tác động của các nguồn lực vô hình đến năng lực cạnh tranh động của công ty Dịch vụ Cơ khí Hàng hải (PTSC M&C), bằng việc khảo sát 212 khách hàng. Phương pháp phân tích Cronbach’s Alpha, phân tích EFA cùng với phân tích hồi quy bội được sử dụng với phương tiện SPSS. Kết quả cho thấy mức độ ảnh hưởng của các nguồn lực vô hình đến năng lực cạnh tranh động của PTSC M&C - theo tầm quan trọng giảm dần: Đáp ứng khách hàng và mối quan hệ với đối tác; Thích ứng với môi trường vĩ mô; Định hướng kinh doanh; Năng lực tổ chức dịch vụ; Phản ứng với đối thủ cạnh tranh; Danh tiếng doanh nghiệp; Năng lực sáng tạo; Định hướng học hỏi. Nghiên cứu đề ra một số hàm ý quản trị cho các nhà quản lý PTSC M&C nhằm tăng năng lực cạnh tranh động.<br><br><b>English Abstract:</b> The research investigates how the latent resources affect the dynamic competitive capability of Petrovietnam Technical Services Coporation Mechanical and Construction Ltd. Co. (PTSC M&C), by intervewing 212 customers. The method of Cronbach’s Alpha analysis, EFA analysis and multiple regression analysis were used with the SPSS program. The result shows that the affect of the latent resources on the dynamic competitive capability of PTSC M&C decreasingly: Customer Response and Partner Coordination Capability, Responsiveness to the Change of the Macroenvironment, Entrepreneurial Orientation, Service Organizing Capability, Competitor Responsiveness, Corporate Reputation, Innovativeness Capability, Organizational Learning Capability. The research also suggests some solutions to the PTSC M&C management to enhance dynamic competitive capability.<br><br>","PeriodicalId":174886,"journal":{"name":"Strategy & Organizational Behavior eJournal","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125576241","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The recent surge in the use of team-managed funds in the mutual fund industry suggests that the benefits of team management might outweigh its costs. However, extant empirical evidence is not consistent with the view that team-managed funds generate superior returns relative to individual-managed funds. We argue that the benefits of team management are likely to be manifested in the presence of strong board monitoring because the potential free-rider problems within team-managed funds are alleviated. Our findings, that smaller boards and boards with a higher proportion of independent directors are positively associated with performance in team but not individual-managed funds, are consistent with this view. Our results suggest that in team-managed fund structures, where the potential free-riding problems exist, the presence of strong board monitoring improves fund performance.
{"title":"Mutual Fund Performance, Management Teams, and Boards","authors":"John C. Adams, Takeshi Nishikawa, R. Rao","doi":"10.2139/ssrn.2251191","DOIUrl":"https://doi.org/10.2139/ssrn.2251191","url":null,"abstract":"The recent surge in the use of team-managed funds in the mutual fund industry suggests that the benefits of team management might outweigh its costs. However, extant empirical evidence is not consistent with the view that team-managed funds generate superior returns relative to individual-managed funds. We argue that the benefits of team management are likely to be manifested in the presence of strong board monitoring because the potential free-rider problems within team-managed funds are alleviated. Our findings, that smaller boards and boards with a higher proportion of independent directors are positively associated with performance in team but not individual-managed funds, are consistent with this view. Our results suggest that in team-managed fund structures, where the potential free-riding problems exist, the presence of strong board monitoring improves fund performance.","PeriodicalId":174886,"journal":{"name":"Strategy & Organizational Behavior eJournal","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125279655","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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