Purpose – The purpose of this paper is to examine the relationships between the determinants of corporate social responsibilities (CSR) and corporate financial performances (CFP) of public listed companies in Malaysia. Design/Methodology/Approach – A longitudinal data was collected and doing the analysis by using panel data from the year 1999 until 2011 of annual report from the 10 public listed companies (PLCs) in Malaysia. The statistical power with fixed effect and random effect model was utilized. Findings – The paper found that only one of the CSR dimensions which is community involvement was found that are positively related to the financial performances based on the study in the annual report. While, the other three dimension which are employee relation, product dimension and environment dimension not influence the corporate financial performances. This is show that limited evidence of the relationship between CSR and CFP in the long term. Practical Implication – These findings suggest that Malaysian PLCs should be actively involved in their CSR activities because CSR has a significant effect to the improving corporate social performances of entire companies. Originality/Value – The paper contributes the suggestion and motivation to the managers towards the CSR practices. This study conduct that the research on relationship between two components which are CSR and CFP.
{"title":"Looking for Evidence of the Relationship between Corporate Social Responsibilities and Corporate Financial Performance in an Emerging Market","authors":"Nurul Amira","doi":"10.2139/ssrn.2277209","DOIUrl":"https://doi.org/10.2139/ssrn.2277209","url":null,"abstract":"Purpose – The purpose of this paper is to examine the relationships between the determinants of corporate social responsibilities (CSR) and corporate financial performances (CFP) of public listed companies in Malaysia. Design/Methodology/Approach – A longitudinal data was collected and doing the analysis by using panel data from the year 1999 until 2011 of annual report from the 10 public listed companies (PLCs) in Malaysia. The statistical power with fixed effect and random effect model was utilized. Findings – The paper found that only one of the CSR dimensions which is community involvement was found that are positively related to the financial performances based on the study in the annual report. While, the other three dimension which are employee relation, product dimension and environment dimension not influence the corporate financial performances. This is show that limited evidence of the relationship between CSR and CFP in the long term. Practical Implication – These findings suggest that Malaysian PLCs should be actively involved in their CSR activities because CSR has a significant effect to the improving corporate social performances of entire companies. Originality/Value – The paper contributes the suggestion and motivation to the managers towards the CSR practices. This study conduct that the research on relationship between two components which are CSR and CFP.","PeriodicalId":22151,"journal":{"name":"SRPN: Corporate Governance (Topic)","volume":"59 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84572560","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}
This thesis focuses on a central behavioral paradox in the asset management community, by questioning the dominant assumptions made in the sustainable investment field. To investigate why some asset managers use ESG information and others not to engage in sustainable investment, the grounded theory approach was employed to build theory from the ground up. It draws on asset manager interviews, archival documents, expert and practitioner consultations and feedback during 2007 and mid-2011. To reflect the global nature of sustainability, global equity asset managers were selected from thirteen institutions in three lead markets with most geographically diversified sustainable investment, UK, the Netherlands and Belgium. Drawing from insights and perspectives from the practitioners, a grounded theory model of asset manager conformance and non-conformance highlights a pivotal concept of sensemaking capacities. It reveals a counter intuitive pattern of asset manager learning. Non-conforming asset managers have developed a distinctive capacity to integrate sustainability and investment return concerns regardless of public pressures to do so. Their behavioral integration of sustainability and return generation is so highly developed, that adding the ESG information in their investment strategy would actually impair their capacity to make sense of sustainability. In absence of such behavioral integration and sensemaking capacities, conforming managers failed to sustain consistency or suffered from under-funding. To stay competitive, the latter managers have fervently demonstrated the ESG information use in their investment strategies. However, such explicit demonstration of leadership has not been accompanied by distinctive sensemaking capacities. It was non-conforming asset manager teams that have sustained consistent returns and increased client assets throughout the financial crisis.The most important theoretical contribution is identification of non-conformance variables to engage intrinsically in sustainable investment. Empirical evidence on non-conformers, corroborated with resource-based view of the firm, also enhances the understanding of non-conformers’ motivation to sustain competitive advantage. Findings also lead to managerial and policy implications. The EU Commission needs to reexamine if the current policy measures lead to further symbolic demonstrations of ESG usage without accompanying sustainable behavior at the cost of real economy. Reporting burdens may inadvertently impair non-conforming managers’ capacities to sustain long-term performance and may induce a contradictory policy consequence of increased public distrust.
{"title":"Conformance and Non Conformance of Asset Managers to the Environment, Social and Governance Pressures","authors":"Kyoko Sakuma-Keck","doi":"10.2139/SSRN.2645182","DOIUrl":"https://doi.org/10.2139/SSRN.2645182","url":null,"abstract":"This thesis focuses on a central behavioral paradox in the asset management community, by questioning the dominant assumptions made in the sustainable investment field. To investigate why some asset managers use ESG information and others not to engage in sustainable investment, the grounded theory approach was employed to build theory from the ground up. It draws on asset manager interviews, archival documents, expert and practitioner consultations and feedback during 2007 and mid-2011. To reflect the global nature of sustainability, global equity asset managers were selected from thirteen institutions in three lead markets with most geographically diversified sustainable investment, UK, the Netherlands and Belgium. Drawing from insights and perspectives from the practitioners, a grounded theory model of asset manager conformance and non-conformance highlights a pivotal concept of sensemaking capacities. It reveals a counter intuitive pattern of asset manager learning. Non-conforming asset managers have developed a distinctive capacity to integrate sustainability and investment return concerns regardless of public pressures to do so. Their behavioral integration of sustainability and return generation is so highly developed, that adding the ESG information in their investment strategy would actually impair their capacity to make sense of sustainability. In absence of such behavioral integration and sensemaking capacities, conforming managers failed to sustain consistency or suffered from under-funding. To stay competitive, the latter managers have fervently demonstrated the ESG information use in their investment strategies. However, such explicit demonstration of leadership has not been accompanied by distinctive sensemaking capacities. It was non-conforming asset manager teams that have sustained consistent returns and increased client assets throughout the financial crisis.The most important theoretical contribution is identification of non-conformance variables to engage intrinsically in sustainable investment. Empirical evidence on non-conformers, corroborated with resource-based view of the firm, also enhances the understanding of non-conformers’ motivation to sustain competitive advantage. Findings also lead to managerial and policy implications. The EU Commission needs to reexamine if the current policy measures lead to further symbolic demonstrations of ESG usage without accompanying sustainable behavior at the cost of real economy. Reporting burdens may inadvertently impair non-conforming managers’ capacities to sustain long-term performance and may induce a contradictory policy consequence of increased public distrust.","PeriodicalId":22151,"journal":{"name":"SRPN: Corporate Governance (Topic)","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87839203","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}
This paper addresses itself to the following question: how is the company the personification of industrial (or financial) capital? My argument is that the company is personified through the generation of narratives of selfhood that define and stabilise the ‘practices and institutions’ of the firm. These narratives themselves draw on the conventions of ‘moral economy’ - struggles and conventions through which questions of distribution, desert and economic order in society are struggle over and resolved - so as to lend internal coherence to the productive and disciplinary practices of the firm and to provide external context for corporate action. Furthermore, ideas of the company in general act as ‘transmission mechanisms’ that explain and mediate the company and wider market imperatives in society at large. I explore these ideas through a review of corporate responsibility and sustainability reports, pointing to a switch from responsibility defined as ‘gift-giving’ to sustainability defined as ‘doing business well.’
{"title":"Corporate Governance as a School of Social Reform","authors":"C. O'Kelly","doi":"10.2139/SSRN.2088792","DOIUrl":"https://doi.org/10.2139/SSRN.2088792","url":null,"abstract":"This paper addresses itself to the following question: how is the company the personification of industrial (or financial) capital? My argument is that the company is personified through the generation of narratives of selfhood that define and stabilise the ‘practices and institutions’ of the firm. These narratives themselves draw on the conventions of ‘moral economy’ - struggles and conventions through which questions of distribution, desert and economic order in society are struggle over and resolved - so as to lend internal coherence to the productive and disciplinary practices of the firm and to provide external context for corporate action. Furthermore, ideas of the company in general act as ‘transmission mechanisms’ that explain and mediate the company and wider market imperatives in society at large. I explore these ideas through a review of corporate responsibility and sustainability reports, pointing to a switch from responsibility defined as ‘gift-giving’ to sustainability defined as ‘doing business well.’","PeriodicalId":22151,"journal":{"name":"SRPN: Corporate Governance (Topic)","volume":"50 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90730512","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 goal of this study is to examine whether women in the highest levels of firms' management ranks help reduce barriers to women's advancement in the workplace. Using a panel of over 20,000 private-sector firms across all industries and states during 1990-2003 from the U.S. Equal Employment Opportunity Commission, we explore the influence of women in top management on subsequent female representation in lower-level managerial positions in U.S. firms. Our key findings show that an increase in the share of female top managers is associated with subsequent increases in the share of women in mid-level management positions within firms, and this result is robust to controlling for firm size, workforce composition, federal contractor status, firm fixed effects, year fixed effects and industry-specific trends. Moreover, although the influence of women in top management positions is strongest among white women, black, Hispanic and Asian women in top management also have a positive influence on subsequent increases in black, Hispanic and Asian women in mid-level management, respectively. Furthermore, the influence of women in top management positions is stronger among federal contractors, and in firms with larger female labor forces. We also find that the positive influence of women in top leadership positions on managerial gender diversity diminishes over time, suggesting that women at the top play a positive but transitory role in women's career advancement.
{"title":"Do Women Top Managers Help Women Advance? A Panel Study Using EEO-1 Records","authors":"F. Kurtulus, Donald Tomaskovic-Devey","doi":"10.2139/ssrn.2039570","DOIUrl":"https://doi.org/10.2139/ssrn.2039570","url":null,"abstract":"The goal of this study is to examine whether women in the highest levels of firms' management ranks help reduce barriers to women's advancement in the workplace. Using a panel of over 20,000 private-sector firms across all industries and states during 1990-2003 from the U.S. Equal Employment Opportunity Commission, we explore the influence of women in top management on subsequent female representation in lower-level managerial positions in U.S. firms. Our key findings show that an increase in the share of female top managers is associated with subsequent increases in the share of women in mid-level management positions within firms, and this result is robust to controlling for firm size, workforce composition, federal contractor status, firm fixed effects, year fixed effects and industry-specific trends. Moreover, although the influence of women in top management positions is strongest among white women, black, Hispanic and Asian women in top management also have a positive influence on subsequent increases in black, Hispanic and Asian women in mid-level management, respectively. Furthermore, the influence of women in top management positions is stronger among federal contractors, and in firms with larger female labor forces. We also find that the positive influence of women in top leadership positions on managerial gender diversity diminishes over time, suggesting that women at the top play a positive but transitory role in women's career advancement.","PeriodicalId":22151,"journal":{"name":"SRPN: Corporate Governance (Topic)","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82639440","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 article explores the influence of private pensions on Corporate Governance and puts the US and the UK as well as Germany and Japan. Due to old age security system relying on private pensions, the Corporate Governance systems of the US and the UK have been influenced to a significant degree by private pension instititutions. In Germany and Japan, private pension are less important but corporate governance principles promoted by international investors shape the Corporate Governance system in the respective countries as well.
{"title":"Private Pensions and Corporate Governance","authors":"Markus Roth","doi":"10.2139/SSRN.2027628","DOIUrl":"https://doi.org/10.2139/SSRN.2027628","url":null,"abstract":"The article explores the influence of private pensions on Corporate Governance and puts the US and the UK as well as Germany and Japan. Due to old age security system relying on private pensions, the Corporate Governance systems of the US and the UK have been influenced to a significant degree by private pension instititutions. In Germany and Japan, private pension are less important but corporate governance principles promoted by international investors shape the Corporate Governance system in the respective countries as well.","PeriodicalId":22151,"journal":{"name":"SRPN: Corporate Governance (Topic)","volume":"22 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83302234","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}
Canada’s charities are increasingly looking at ways to finance their non-profit activities through business income – in areas directly related to their charitable missions, and in areas that are not. Current legislation limits public foundations and charitable organizations to operating businesses directly related to the charity’s purpose. Private foundations may not operate businesses of any type. The Canada Revenue Agency’s policy on related business provides effective guidance for organizations that run ancillary businesses – such as hospitals that run parking lots. However, the Canada Revenue Agency’s regulations are of little help for organizations that aim to achieve charitable ends by raising revenue through businesses unrelated to their charitable purpose. In the face of changes in giving patterns and financing sources for the sector, charities need such flexibility to carry out their important missions.
{"title":"At the Crossroads: New Ideas for Charity Finance in Canada","authors":"Adam Aptowitzer, Benjamin Dachis","doi":"10.2139/SSRN.2030988","DOIUrl":"https://doi.org/10.2139/SSRN.2030988","url":null,"abstract":"Canada’s charities are increasingly looking at ways to finance their non-profit activities through business income – in areas directly related to their charitable missions, and in areas that are not. Current legislation limits public foundations and charitable organizations to operating businesses directly related to the charity’s purpose. Private foundations may not operate businesses of any type. The Canada Revenue Agency’s policy on related business provides effective guidance for organizations that run ancillary businesses – such as hospitals that run parking lots. However, the Canada Revenue Agency’s regulations are of little help for organizations that aim to achieve charitable ends by raising revenue through businesses unrelated to their charitable purpose. In the face of changes in giving patterns and financing sources for the sector, charities need such flexibility to carry out their important missions.","PeriodicalId":22151,"journal":{"name":"SRPN: Corporate Governance (Topic)","volume":"82 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74928265","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}
Ralf Martin, Mirabelle Muûls, Laure de Preux, U. Wagner
This paper provides new evidence on the relationship between management practices and firm performance. We interviewed managers of 190 randomly selected manufacturing plants in the UK and matched their responses with official business microdata. We find that climate friendly management practices are associated with lower energy intensity and higher productivity. Firms that adopt more such practices also conduct more climate friendly R&D which will sustain future growth in energy efficiency. Our findings are akin to the "energy efficiency paradox" and highlight the linkages between particular management practices and firm-level energy efficiency. We also find a strong empirical link between climate friendly management practices and organizational structure. Firms are more likely to adopt such practices if climate change issues are managed by the environmental or energy manager, and if this manager is close to the CEO. Adoption is less likely when the CEO is in charge of climate change issues.
{"title":"Anatomy of a Paradox: Management Practices, Organizational Structure and Energy Efficiency","authors":"Ralf Martin, Mirabelle Muûls, Laure de Preux, U. Wagner","doi":"10.2139/ssrn.1575994","DOIUrl":"https://doi.org/10.2139/ssrn.1575994","url":null,"abstract":"This paper provides new evidence on the relationship between management practices and firm performance. We interviewed managers of 190 randomly selected manufacturing plants in the UK and matched their responses with official business microdata. We find that climate friendly management practices are associated with lower energy intensity and higher productivity. Firms that adopt more such practices also conduct more climate friendly R&D which will sustain future growth in energy efficiency. Our findings are akin to the \"energy efficiency paradox\" and highlight the linkages between particular management practices and firm-level energy efficiency. We also find a strong empirical link between climate friendly management practices and organizational structure. Firms are more likely to adopt such practices if climate change issues are managed by the environmental or energy manager, and if this manager is close to the CEO. Adoption is less likely when the CEO is in charge of climate change issues.","PeriodicalId":22151,"journal":{"name":"SRPN: Corporate Governance (Topic)","volume":"19 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2011-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85814733","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}
Nor Raihan Mohamad, S. Abdullah, Mohd Zulkifli Mokhtar, N. F. B. Kamil
This study extends earlier research on corporate governance by examining whether the interaction between independent directors, women directors, minority directors and corporate social responsibility practices is effective to mitigate earnings management. Using panel data from Malaysian firms for the financial years 2005-07, this study finds that only minority director has main effect on earnings management. This result suggests that firms which have board diversity tend to have lower earnings management. There is no interaction effect between corporate social responsibility and corporate governance variables on earnings management.
{"title":"The Effects of Board Independence, Board Diversity and Corporate Social Responsibility on Earnings Management","authors":"Nor Raihan Mohamad, S. Abdullah, Mohd Zulkifli Mokhtar, N. F. B. Kamil","doi":"10.2139/ssrn.1725925","DOIUrl":"https://doi.org/10.2139/ssrn.1725925","url":null,"abstract":"This study extends earlier research on corporate governance by examining whether the interaction between independent directors, women directors, minority directors and corporate social responsibility practices is effective to mitigate earnings management. Using panel data from Malaysian firms for the financial years 2005-07, this study finds that only minority director has main effect on earnings management. This result suggests that firms which have board diversity tend to have lower earnings management. There is no interaction effect between corporate social responsibility and corporate governance variables on earnings management.","PeriodicalId":22151,"journal":{"name":"SRPN: Corporate Governance (Topic)","volume":"27 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2010-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84558162","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}
Abstract: Presently the rapid growth and diversification of the gigantic NGO sector of Bangladesh has given rise to questions and concerns, about their trade-offs between sustainability and pro-poor orientation; the impact and quality of services; corporate governance; management and accountability. The paper is based on a proposal to introduce a modern management system viz. value based management (VBM) in the NGOs of Bangladesh. Value-based management can be defined as an integrated management control system that measures, encourages and supports the creation of net worth. The report of Transparency International Bangladesh 'Problems of Governance in the NGO Sector: The Way Out' (TIB) 2007 is used here as an information source of finding out the flaws of existing management techniques. Finally the paper recommended implementation techniques of VBM in order to regain the image of the NGOs as a pioneer of social welfare in Bangladesh.
{"title":"A Proposal to Introduce Value Based Management in NGOs of Bangladesh","authors":"M. Siddika","doi":"10.2139/ssrn.1315963","DOIUrl":"https://doi.org/10.2139/ssrn.1315963","url":null,"abstract":"Abstract: Presently the rapid growth and diversification of the gigantic NGO sector of Bangladesh has given rise to questions and concerns, about their trade-offs between sustainability and pro-poor orientation; the impact and quality of services; corporate governance; management and accountability. The paper is based on a proposal to introduce a modern management system viz. value based management (VBM) in the NGOs of Bangladesh. Value-based management can be defined as an integrated management control system that measures, encourages and supports the creation of net worth. The report of Transparency International Bangladesh 'Problems of Governance in the NGO Sector: The Way Out' (TIB) 2007 is used here as an information source of finding out the flaws of existing management techniques. Finally the paper recommended implementation techniques of VBM in order to regain the image of the NGOs as a pioneer of social welfare in Bangladesh.","PeriodicalId":22151,"journal":{"name":"SRPN: Corporate Governance (Topic)","volume":"36 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88661141","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}
Pub Date : 2008-08-06DOI: 10.1111/j.1467-8551.2007.00552.x
H. Patzelt, Dodo zu Knyphausen‐Aufseß, P. Nikol
In this paper we introduce a new contingency variable that moderates the effect of top management team composition on organizational performance - the organization's business model. Arguing from an upper echelon perspective and drawing on data from 99 German biotechnology ventures, we show that founder-based firm-specific experience of management team members can have either a positive or a negative effect on performance, depending on whether the venture pursues a platform or a therapeutics business model, respectively. Our results also show that managers' experience collected in the pharmaceutical industry has a positive effect on performance, and that this effect is more positive for therapeutics than for platform ventures. We discuss the implications of these findings for the literature on upper echelons and entrepreneurial founding teams.
{"title":"Top Management Teams, Business Models, and Performance of Biotechnology Ventures: An Upper Echelon Perspective","authors":"H. Patzelt, Dodo zu Knyphausen‐Aufseß, P. Nikol","doi":"10.1111/j.1467-8551.2007.00552.x","DOIUrl":"https://doi.org/10.1111/j.1467-8551.2007.00552.x","url":null,"abstract":"In this paper we introduce a new contingency variable that moderates the effect of top management team composition on organizational performance - the organization's business model. Arguing from an upper echelon perspective and drawing on data from 99 German biotechnology ventures, we show that founder-based firm-specific experience of management team members can have either a positive or a negative effect on performance, depending on whether the venture pursues a platform or a therapeutics business model, respectively. Our results also show that managers' experience collected in the pharmaceutical industry has a positive effect on performance, and that this effect is more positive for therapeutics than for platform ventures. We discuss the implications of these findings for the literature on upper echelons and entrepreneurial founding teams.","PeriodicalId":22151,"journal":{"name":"SRPN: Corporate Governance (Topic)","volume":"43 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2008-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75251270","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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