Review of Managerial Science最新文献

Why should models and theories that have set images and boundaries of the internationalization process in the past remain constant over time within International Business research? Despite a recent emphasis on its nonlinear nature, many still view internationalization as a forward-moving process, overlooking its dynamic nature involving enter, re-enter, and exit decisions during the process. To discuss this issue, this paper rethinks the existing International Business literature to retain its explanatory power as an essential discipline by developing a circular framework to capture firms' non-linear internationalization process. The authors propose a circular framework with the decision-making process as the unit of analysis and four statuses: Enter, De-Internationalization, Re-Internationalization, and Operation Internationalized. The decision-making process guides firms through the statuses simultaneously or individually, in the same or a diverse temporal dimension. With this circular framework, the authors wish to contribute to future International Business research; research that can keep up with the “real” world.

Avoiding bankruptcy is a crucial task for any firm’s top management team (TMT), and reasons for the failure to accomplish it have long been studied. While financial metrics can predict near-term bankruptcy, governance characteristics increase precision in the long term. With TMT heterogeneity, we introduce a powerful predictor for the critical time frame in between. Grounded in upper echelons theory, we argue that TMT age heterogeneity increases while heterogeneity in TMT pay and TMT functional backgrounds decreases the bankruptcy probability. We test our hypotheses using a unique dataset of large, public U.S. firms, about half of which filed for bankruptcy between 2001 and 2020. Our results support our research model and show how TMT heterogeneity significantly predicts bankruptcy. We contribute to both bankruptcy and strategic management research by underscoring the importance of TMT heterogeneity as a level of analysis when predicting bankruptcy and add to the ongoing discussion on the impact of TMT pay differences on firm performance. Additionally, we offer valuable insights to practitioners navigating their firms in times of crisis and to regulators shaping the insolvency statutes of the future.

This paper explores the relationship between family ownership and a firm’s leverage from the socioemotional wealth (SEW) theory. We propose that SEW objectives (i.e., family control, long-term horizon, and family firm reputation) might have a mediating effect on the family ownership-leverage link. In addition, we argue that an internal contingency—such as below aspiration performance—may moderate SEW’s influence on the family ownership-leverage relationship as a result of a shift in focus from non-economic to economic goals. Using a sample of European listed firms from 2011 to 2018, we find that the negative impact of family ownership on a firm’s leverage is mediated through SEW objectives. Moreover, our evidence suggests that a negative performance-aspiration gap weakens the mediating influence of these SEW objectives on leverage. Over all, our study reveals that SEW is a key channel which drives family firms’ reluctance to leverage.

This paper proposes a conceptual framework to determine a greenwashing indicator on firm level, based on five pillars of information that capture the key drivers of greenwashing: soft ESG data, textual self-representation, green marketing expenses, green virtue for the apparent green performance, and hard ESG data as a measure of the real green performance. The proposed framework is built on a literature review of greenwashing typology and drivers and can be applied to a broad set of firms at the same time, while most existing approaches are built on a detailed investigation of individual cases. The greenwashing indicator in our framework is based on the difference between real and apparent green performance. This approach allows the implicit calculation of the real green performance using the concept of a firm misconduct factor that helps to identify the greenwashing indicator without knowledge of the real (and often hard to measure) green performance of a firm.

We embed an experiment in an ongoing firm-level panel survey with a sample of 623 firms managed by their owners to explore the role of top managers’ behavioral traits as drivers of corporate strategies and performance. We find that present biased managers are less likely to invest in business practices, leading to lower sales revenue. Younger managers are more patient and less risk-averse than older ones, and they play a more significant role in improving firm performance than their counterparts. Interestingly, we find compelling evidence that business practices play a crucial role as a mediating mechanism through which managers’ present bias and loss aversion affect firm performance.

While various combinations of business eco-systems (desktop, laptop, tablet, mobile, smartwatch, and TV) and platforms (apps, websites, and social media pages) can be used to shop online, little is known about consumers’ preferences to choose one over another. The user experience on each eco-touchpoint and eco-channel is not the same. By comparing four groups of respondents (595 observations) using two different systems (Brand Website vs. Brand Facebook page) and two different channels (PC vs. Smartphone), this research examines how utilitarian values, hedonic values, satisfaction, and flow experience, might differ across these various business ecosystems for those booking a vacation. Participants were randomly guided to one of the four experimental groups based on their device. The results show that flow experience, utilitarian values, and hedonic values influence booking intentions. These effects differ from digital platform to digital platform and from one e-channel to another. This research deepens our theoretical understanding of the online user experience across business ecosystems and gives practical insights into how e-retailers could enhance consumers’ shopping experiences through the different e-channel and digital platforms that contribute, in a different way, to the online experience.

This paper proposes a test for the signal-to-noise ratio applicable to a range of significance tests and model diagnostics in a linear regression model. It is particularly useful when sample size is large or massive, where, as a consequence, conventional tests frequently lead to inappropriate rejection of the null hypothesis. The test is conducted in the context of the traditional F-test, with its critical values increasing with sample size. It maintains desirable size properties under a large or massive sample size, when the null hypothesis is violated by a practically negligible margin. The test is widely applicable to many empirical studies in business and management.

This study aims to investigate the relationship between psychological empowerment (PE) and innovative work behavior (IWB) through the mediating mechanism of informal learning (IL) and the moderating role of proactive behavior. Based on conservation resource theory, a moderated mediation model was tested on a sample of 323 employees of Pakistan’s small services firms. The results reveal that psychological empowerment indirectly affects innovative work behaviour through informal learning and that the indirect effect of PE on IWB through informal learning is stronger at high levels of proactive behaviour. This study contributes to the literature by examining the mediating role of informal learning between PE and IWB with the moderating effect of proactive behaviour. Finally, this study presents theoretical and practical implications based on analytical results.