The purpose of this study is two‐fold: (1) to investigate the moderating effect of the cultural value orientation of harmony/mastery on the relationship between board gender diversity (BGD) and corporate social responsibility (CSR) performance; and (2) to examine further whether cultural tightness amplifies the moderating effect of harmony/mastery orientation. Using a sample of 5135 firms across 25 countries during the period 2002–2021, our interaction model run with panel regression showed that the association between BGD and CSR performance is positively (negatively) moderated by harmony (mastery) orientation. Moreover, our test of a three‐way interaction among BGD, harmony (mastery), and cultural tightness–looseness on CSR performance revealed that the moderating effect of harmony (mastery) orientation is amplified when cultural tightness increases. The findings suggest that harmony/mastery orientation matters more for the effects of BGD on firm CSR performance under tight cultural conditions. We discuss the theoretical and practical implications of the study.
{"title":"Board Gender Diversity and CSR Performance: Do Societal Harmony/Mastery Orientation and Cultural Tightness‐Looseness Matter?","authors":"Ghulam Mustafa, Ishwar Khatri","doi":"10.1111/1467-8551.12834","DOIUrl":"https://doi.org/10.1111/1467-8551.12834","url":null,"abstract":"The purpose of this study is two‐fold: (1) to investigate the moderating effect of the cultural value orientation of harmony/mastery on the relationship between board gender diversity (BGD) and corporate social responsibility (CSR) performance; and (2) to examine further whether cultural tightness amplifies the moderating effect of harmony/mastery orientation. Using a sample of 5135 firms across 25 countries during the period 2002–2021, our interaction model run with panel regression showed that the association between BGD and CSR performance is positively (negatively) moderated by harmony (mastery) orientation. Moreover, our test of a three‐way interaction among BGD, harmony (mastery), and cultural tightness–looseness on CSR performance revealed that the moderating effect of harmony (mastery) orientation is amplified when cultural tightness increases. The findings suggest that harmony/mastery orientation matters more for the effects of BGD on firm CSR performance under tight cultural conditions. We discuss the theoretical and practical implications of the study.","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":null,"pages":null},"PeriodicalIF":5.6,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141116087","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Investors and financial market intermediaries have been blamed for under‐investment, low growth and low rates of innovation in the UK, with their behaviour being attributed to short‐termism. Various reasons for short‐termism have been identified, including undervaluing long‐term earnings, increased financial obstacles associated with longer investment horizons, and the adoption of financial control systems to meet investors’ demands for quarterly earnings reports. As a result, firms may opt for suboptimal short‐term investment projects while neglecting potentially valuable long‐term initiatives. Most research has focused on large corporates, which constitute a small fraction of the economy and involve multiple stakeholders. There is a significant knowledge gap regarding small owner‐managed firms that rely primarily on internal financing and bank debt for investment. Our study fills this gap by analysing a comprehensive UK finance and investment decision‐making survey of 1501 firms across all classes. The survey reveals that investment appraisal relies on a ‘payback’ period. We find that 58.8% of firms choose a payback period of 3 years or less, with shorter payback periods more prominent among the smallest firms. This suggests that financial frictions impact the investment behaviour of the smallest firms, while shareholder‐driven short‐termism influences the largest firms but only in relation to research and development projects.
{"title":"The Puzzle of UK (Under‐) Investment: Is Investment Short‐Termism Just a Supply‐Side Problem in Capital Markets?","authors":"Marc Cowling, Nicholas Wilson","doi":"10.1111/1467-8551.12833","DOIUrl":"https://doi.org/10.1111/1467-8551.12833","url":null,"abstract":"Investors and financial market intermediaries have been blamed for under‐investment, low growth and low rates of innovation in the UK, with their behaviour being attributed to short‐termism. Various reasons for short‐termism have been identified, including undervaluing long‐term earnings, increased financial obstacles associated with longer investment horizons, and the adoption of financial control systems to meet investors’ demands for quarterly earnings reports. As a result, firms may opt for suboptimal short‐term investment projects while neglecting potentially valuable long‐term initiatives. Most research has focused on large corporates, which constitute a small fraction of the economy and involve multiple stakeholders. There is a significant knowledge gap regarding small owner‐managed firms that rely primarily on internal financing and bank debt for investment. Our study fills this gap by analysing a comprehensive UK finance and investment decision‐making survey of 1501 firms across all classes. The survey reveals that investment appraisal relies on a ‘payback’ period. We find that 58.8% of firms choose a payback period of 3 years or less, with shorter payback periods more prominent among the smallest firms. This suggests that financial frictions impact the investment behaviour of the smallest firms, while shareholder‐driven short‐termism influences the largest firms but only in relation to research and development projects.","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":null,"pages":null},"PeriodicalIF":5.6,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140967377","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Although research investigating how organizational culture contributes to institutional failure has extensively conceptualized the causal factors (e.g. norms for behaving unsafely), how culture prevents such problems from being corrected is less well theorized. We synthesize theory on accidents, resilience and reliability and organizational learning to develop a conceptual model of ‘corrective culture’. This relates to distributed norms and behaviours for three interconnected elements: the detection of problems (‘identification’), appreciation of their meaning (‘interpretation’) and responses to prevent harm (‘action’). To investigate the model, and its role in institutional failure, we combined natural language processing and qualitative analysis to examine 54 UK public inquiries published during 1990–2020. Our mixed‐methods analysis found that distributed malfunctions in identifying, interpreting and acting on problems cause a breakdown in organizations’ ‘corrective loops’, which enables originating problems to compound and grow (e.g. risky, unsafe or poor conduct) and cause an institutional failure. We theorize that double‐loop learning is required to prevent this, whereby strong and unambiguous feedback compels organizations to acknowledge and address their problems in dealing with problems, thus enabling them to correctly identify, interpret and act on originating issues and thus prevent a spiral into failure.
{"title":"Problems in Dealing with Problems: How Breakdowns in Corrective Culture Lead to Institutional Failure","authors":"E. J. Hald, Alex Gillespie, T. Reader","doi":"10.1111/1467-8551.12828","DOIUrl":"https://doi.org/10.1111/1467-8551.12828","url":null,"abstract":"Although research investigating how organizational culture contributes to institutional failure has extensively conceptualized the causal factors (e.g. norms for behaving unsafely), how culture prevents such problems from being corrected is less well theorized. We synthesize theory on accidents, resilience and reliability and organizational learning to develop a conceptual model of ‘corrective culture’. This relates to distributed norms and behaviours for three interconnected elements: the detection of problems (‘identification’), appreciation of their meaning (‘interpretation’) and responses to prevent harm (‘action’). To investigate the model, and its role in institutional failure, we combined natural language processing and qualitative analysis to examine 54 UK public inquiries published during 1990–2020. Our mixed‐methods analysis found that distributed malfunctions in identifying, interpreting and acting on problems cause a breakdown in organizations’ ‘corrective loops’, which enables originating problems to compound and grow (e.g. risky, unsafe or poor conduct) and cause an institutional failure. We theorize that double‐loop learning is required to prevent this, whereby strong and unambiguous feedback compels organizations to acknowledge and address their problems in dealing with problems, thus enabling them to correctly identify, interpret and act on originating issues and thus prevent a spiral into failure.","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":null,"pages":null},"PeriodicalIF":5.6,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140968903","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nisreen Ameen, Margherita Pagani, Eleonora Pantano, J. Cheah, S. Tarba, Senmao Xia
This research analyses managers’ perceptions of the multiple types of artificial intelligence (AI) required at each stage of the business‐to‐business (B2B) service recovery journey for successful human–AI collaboration in this context. Study 1 is an exploratory study that identifies managers’ perceptions of the main stages of a B2B service recovery journey based on human–AI collaboration and the corresponding roles of the human–AI collaboration at each stage. Study 2 provides an empirical examination of the proposed theoretical framework to identify the specific types of intelligence required by AI to enhance performance in each stage of B2B service recovery, based on managers’ perceptions. Our findings show that the prediction stage benefits from collaborations involving processing‐speed and visual‐spatial AI. The detection stage requires logic‐mathematical, social and processing‐speed AI. The recovery stage requires logic‐mathematical, social, verbal‐linguistic and processing‐speed AI. The post‐recovery stage calls for logic‐mathematical, social, verbal‐linguistic and processing‐speed AI.
{"title":"The Rise of Human–Machine Collaboration: Managers’ Perceptions of Leveraging Artificial Intelligence for Enhanced B2B Service Recovery","authors":"Nisreen Ameen, Margherita Pagani, Eleonora Pantano, J. Cheah, S. Tarba, Senmao Xia","doi":"10.1111/1467-8551.12829","DOIUrl":"https://doi.org/10.1111/1467-8551.12829","url":null,"abstract":"This research analyses managers’ perceptions of the multiple types of artificial intelligence (AI) required at each stage of the business‐to‐business (B2B) service recovery journey for successful human–AI collaboration in this context. Study 1 is an exploratory study that identifies managers’ perceptions of the main stages of a B2B service recovery journey based on human–AI collaboration and the corresponding roles of the human–AI collaboration at each stage. Study 2 provides an empirical examination of the proposed theoretical framework to identify the specific types of intelligence required by AI to enhance performance in each stage of B2B service recovery, based on managers’ perceptions. Our findings show that the prediction stage benefits from collaborations involving processing‐speed and visual‐spatial AI. The detection stage requires logic‐mathematical, social and processing‐speed AI. The recovery stage requires logic‐mathematical, social, verbal‐linguistic and processing‐speed AI. The post‐recovery stage calls for logic‐mathematical, social, verbal‐linguistic and processing‐speed AI.","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":null,"pages":null},"PeriodicalIF":5.6,"publicationDate":"2024-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140981993","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Industry convergence (IC), the blurring of boundaries between previously separate industries, is a pervasive phenomenon. The emergence of new products, resources and competitors as a result of IC poses a threat to firm survival. Importantly, IC differs from other contexts of technological change that bear their origin in an emerging technology that may substitute or make obsolete an existing technology. Yet, little is known about how firms may survive IC. We theorize that the degrees to which firms explore or exploit using their growth modes (i.e. internal development, alliances and acquisitions) by emphasizing an ambidextrous posture may affect their likelihood of survival. We hypothesize that a high degree of exploration in internal development and alliances and a high degree of exploitation in acquisitions positively affect the likelihood of firm survival. Our hypotheses received strong support in a sample of 231 firms from a period of IC between the telecommunication equipment and data networking industries between 1989 and 2003. Our study opens a new research frontier on IC by proposing a novel theoretical approach based on examining the ambidexterity within and across growth modes to better understand firm outcomes during IC. It also contributes to research on growth modes.
{"title":"Surviving Industry Convergence: Ambidexterity via Internal Development, Alliances and Acquisitions","authors":"Tuhin Chaturvedi, Sean T. Hsu, John E. Prescott","doi":"10.1111/1467-8551.12832","DOIUrl":"https://doi.org/10.1111/1467-8551.12832","url":null,"abstract":"Industry convergence (IC), the blurring of boundaries between previously separate industries, is a pervasive phenomenon. The emergence of new products, resources and competitors as a result of IC poses a threat to firm survival. Importantly, IC differs from other contexts of technological change that bear their origin in an emerging technology that may substitute or make obsolete an existing technology. Yet, little is known about how firms may survive IC. We theorize that the degrees to which firms explore or exploit using their growth modes (i.e. internal development, alliances and acquisitions) by emphasizing an ambidextrous posture may affect their likelihood of survival. We hypothesize that a high degree of exploration in internal development and alliances and a high degree of exploitation in acquisitions positively affect the likelihood of firm survival. Our hypotheses received strong support in a sample of 231 firms from a period of IC between the telecommunication equipment and data networking industries between 1989 and 2003. Our study opens a new research frontier on IC by proposing a novel theoretical approach based on examining the ambidexterity within and across growth modes to better understand firm outcomes during IC. It also contributes to research on growth modes.","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":null,"pages":null},"PeriodicalIF":5.6,"publicationDate":"2024-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140983397","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Robert Newbery, Kevin McKague, Pablo Muñoz, Jonathan Kimmitt
This paper proposes and tests a new conceptual framing for franchisee performance that draws on institutional complexity to explore the interaction of corporate, market, and relational logics of performance. Extant research draws on corporate and market logics to explain performance; however, this does not explain individual franchisee performance in complex institutional environments such as Base‐of‐the‐Pyramid (BoP) markets where relational logics may be more important, thereby limiting explanations of how franchisee outlets perform. Drawing on data from a network of 58 franchise outlets in the context of Kenya, we conduct a configurational analysis related to sales outcomes. We leverage fuzzy‐set qualitative comparative analysis (fsQCA) to map out the conditions under which franchisees exhibit higher sales performance. Results show that three distinct configurations can lead to increased sales performance. Our results paint a nuanced picture of combinations of factors that result in franchisee success with relevance to the BoP context and beyond.
{"title":"Reconceptualizing Franchisee Performance: A Configurational Approach in a Base‐of‐the‐Pyramid Context","authors":"Robert Newbery, Kevin McKague, Pablo Muñoz, Jonathan Kimmitt","doi":"10.1111/1467-8551.12826","DOIUrl":"https://doi.org/10.1111/1467-8551.12826","url":null,"abstract":"This paper proposes and tests a new conceptual framing for franchisee performance that draws on institutional complexity to explore the interaction of corporate, market, and relational logics of performance. Extant research draws on corporate and market logics to explain performance; however, this does not explain individual franchisee performance in complex institutional environments such as Base‐of‐the‐Pyramid (BoP) markets where relational logics may be more important, thereby limiting explanations of how franchisee outlets perform. Drawing on data from a network of 58 franchise outlets in the context of Kenya, we conduct a configurational analysis related to sales outcomes. We leverage fuzzy‐set qualitative comparative analysis (fsQCA) to map out the conditions under which franchisees exhibit higher sales performance. Results show that three distinct configurations can lead to increased sales performance. Our results paint a nuanced picture of combinations of factors that result in franchisee success with relevance to the BoP context and beyond.","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":null,"pages":null},"PeriodicalIF":5.6,"publicationDate":"2024-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140940429","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Tong Wu, Jonathan Reynolds, Bodo B. Schlegelmilch, Jintao Wu
In the social media era, Chief Executive Officers (CEOs) are increasingly using microblogging sites to communicate with the public. Drawing on schema‐congruity theory and gender egalitarianism, we investigate how CEO gender and work–life content orientation interact to influence public engagement with CEOs on microblogs. Using China as our research setting, we conduct a content analysis of data collected from 63 high‐profile CEOs’ microblogs and four laboratory studies with some 2000 respondents. Our results show that for female CEOs, work‐related content leads to greater engagement than life‐related content; for male CEOs, the effect is reversed. We find that such outcomes are driven by the incongruity between stereotypical gender roles and content orientation, which enhances perceived novelty and audience interest, thus leading to greater engagement. This effect diminishes when the audience has a very high or very low perception of gender equality in their society; or when the audience supports male privilege values personally. Our research provides new theoretical insights for online leadership communication, public engagement and gender research. It also offers useful managerial guidance for executives to effectively leverage the capabilities of social media in engaging with the public.
在社交媒体时代，首席执行官（CEO）越来越多地使用微博网站与公众交流。借鉴图式协调理论和性别平等主义，我们研究了首席执行官的性别和工作-生活内容取向如何相互作用，影响公众与首席执行官在微博上的互动。我们以中国为研究背景，对从 63 位知名 CEO 微博收集到的数据进行了内容分析，并对约 2000 名受访者进行了四项实验室研究。研究结果表明，对于女性 CEO 而言，与工作相关的内容比与生活相关的内容更能提高参与度；对于男性 CEO 而言，效果则相反。我们发现，造成这种结果的原因是刻板的性别角色与内容导向之间的不协调，这种不协调增强了受众的新奇感和兴趣，从而提高了参与度。当受众对社会中的性别平等有很高或很低的认知时，或者当受众个人支持男性特权价值观时，这种效应就会减弱。我们的研究为在线领导力传播、公众参与和性别研究提供了新的理论见解。它还为行政人员有效利用社交媒体的功能与公众互动提供了有用的管理指导。
{"title":"How CEOs can Increase Public Engagement via Microblogs: The Role of CEO Gender and Content Orientation","authors":"Tong Wu, Jonathan Reynolds, Bodo B. Schlegelmilch, Jintao Wu","doi":"10.1111/1467-8551.12830","DOIUrl":"https://doi.org/10.1111/1467-8551.12830","url":null,"abstract":"In the social media era, Chief Executive Officers (CEOs) are increasingly using microblogging sites to communicate with the public. Drawing on schema‐congruity theory and gender egalitarianism, we investigate how CEO gender and work–life content orientation interact to influence public engagement with CEOs on microblogs. Using China as our research setting, we conduct a content analysis of data collected from 63 high‐profile CEOs’ microblogs and four laboratory studies with some 2000 respondents. Our results show that for female CEOs, work‐related content leads to greater engagement than life‐related content; for male CEOs, the effect is reversed. We find that such outcomes are driven by the incongruity between stereotypical gender roles and content orientation, which enhances perceived novelty and audience interest, thus leading to greater engagement. This effect diminishes when the audience has a very high or very low perception of gender equality in their society; or when the audience supports male privilege values personally. Our research provides new theoretical insights for online leadership communication, public engagement and gender research. It also offers useful managerial guidance for executives to effectively leverage the capabilities of social media in engaging with the public.","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":null,"pages":null},"PeriodicalIF":5.6,"publicationDate":"2024-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140992755","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The pre‐deal phase of an acquisition is complex, with high stakes and high uncertainty. Consequently, acquisition decision making can be seen as an inherently political process. While political behaviour is a central concept in organizational theory, and despite its inevitability during acquisition decision making owing to the contested nature of the pre‐deal phase, there is a shortage of theory and evidence concerning the antecedents, consequences and moderators of political behaviour. To address these theoretical shortcomings, we develop and test a theoretical model of political behaviour focusing on the psychological context of the top management team (TMT). We argue that while political behaviour risks undermining acquisition performance, the degree of board involvement during the pre‐deal phase can enable some TMTs to attenuate the damaging effects of political behaviour. Further, we theorize two key antecedents variously fuelling and constraining political behaviour. We contend that while TMT cohesion reduces political behaviour, cognitive diversity increases political behaviour while suppressing the potential for TMT cohesion to prevent political behaviour. We test our theoretical model using a field‐based sample of 109 UK acquisitions, combining multiple informants with objective secondary data.
{"title":"Playing Politics: An Upper Echelons Perspective on Political Behaviour During Acquisition Decision Making","authors":"Bowen Lou, N. Shepherd, A. Strobl, Florian Bauer","doi":"10.1111/1467-8551.12831","DOIUrl":"https://doi.org/10.1111/1467-8551.12831","url":null,"abstract":"The pre‐deal phase of an acquisition is complex, with high stakes and high uncertainty. Consequently, acquisition decision making can be seen as an inherently political process. While political behaviour is a central concept in organizational theory, and despite its inevitability during acquisition decision making owing to the contested nature of the pre‐deal phase, there is a shortage of theory and evidence concerning the antecedents, consequences and moderators of political behaviour. To address these theoretical shortcomings, we develop and test a theoretical model of political behaviour focusing on the psychological context of the top management team (TMT). We argue that while political behaviour risks undermining acquisition performance, the degree of board involvement during the pre‐deal phase can enable some TMTs to attenuate the damaging effects of political behaviour. Further, we theorize two key antecedents variously fuelling and constraining political behaviour. We contend that while TMT cohesion reduces political behaviour, cognitive diversity increases political behaviour while suppressing the potential for TMT cohesion to prevent political behaviour. We test our theoretical model using a field‐based sample of 109 UK acquisitions, combining multiple informants with objective secondary data.","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":null,"pages":null},"PeriodicalIF":5.6,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141001734","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Martina Battisti, J. Jeffrey Gish, Isabella Hatak, Haibo Zhou
Building on the Effort Recovery Model and Conservation of Resources Theory, this study provides new theoretical and empirical insights into how entrepreneurs increase their resilience by engaging in recovery experiences. Employing a longitudinal repeated survey design applied to 346 entrepreneurs, our findings reveal that control is the only recovery experience that directly influences resilience. We also uncover more complex indirect pathways through positive reappraisal and sleep. Overall, the study demonstrates that each recovery experience has a unique relationship with resilience, allowing us to theorize potential underlying mechanisms for how recovery translates into resilience. We offer practical suggestions for effective interventions addressing the recovery paradox in entrepreneurship during times of change and uncertainty.
{"title":"Establishing a Recovery Menu to Increase the Resilience of Entrepreneurs","authors":"Martina Battisti, J. Jeffrey Gish, Isabella Hatak, Haibo Zhou","doi":"10.1111/1467-8551.12827","DOIUrl":"https://doi.org/10.1111/1467-8551.12827","url":null,"abstract":"Building on the Effort Recovery Model and Conservation of Resources Theory, this study provides new theoretical and empirical insights into how entrepreneurs increase their resilience by engaging in recovery experiences. Employing a longitudinal repeated survey design applied to 346 entrepreneurs, our findings reveal that control is the only recovery experience that directly influences resilience. We also uncover more complex indirect pathways through positive reappraisal and sleep. Overall, the study demonstrates that each recovery experience has a unique relationship with resilience, allowing us to theorize potential underlying mechanisms for how recovery translates into resilience. We offer practical suggestions for effective interventions addressing the recovery paradox in entrepreneurship during times of change and uncertainty.","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":null,"pages":null},"PeriodicalIF":5.6,"publicationDate":"2024-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140840158","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Accountability‐avoiding foreign direct investment (FDI) is a category of financial motives explaining where firms invest and how, yet our grasp of this phenomenon is incomplete. In contrast with tax‐haven FDI, where multinational enterprises (MNEs) invest in a host country to pursue inbound profit shifting, we consider a novel motive – FDI attracted by low host country financial transparency that enables outbound profit shifting (OPS). Cross‐border acquisitions (CBAs) are a takeover route to achieving OPS and global tax optimization. Our empirical context is 39,951 CBAs by 315 acquirers from 26 countries in the 1996–2015 period. We hypothesize and empirically show a positive relationship between OPS and CBAs and the probability that equity ownership of CBAs will be high. We find that the relationship between OPS and CBAs is stronger the more attractive or income unequal the host market, or when the multinational's industry is vertically or horizontally integrated. We attribute the lack of support for our hypothesis that MNEs require in‐house capability to conduct OPS to tax planning consultancies’ services. These findings highlight the role of low financial transparency as a novel locational determinant of OPS‐pursuing FDI and emphasize the distinction between inbound and outbound profit shifting as manifestations of accountability‐avoiding FDI.
{"title":"Outbound Profit Shifting and the Propensity to Engage in Cross‐Border Acquisitions","authors":"Janja A. Tardios, L. Jeremy Clegg","doi":"10.1111/1467-8551.12825","DOIUrl":"https://doi.org/10.1111/1467-8551.12825","url":null,"abstract":"Accountability‐avoiding foreign direct investment (FDI) is a category of financial motives explaining where firms invest and how, yet our grasp of this phenomenon is incomplete. In contrast with tax‐haven FDI, where multinational enterprises (MNEs) invest in a host country to pursue inbound profit shifting, we consider a novel motive – FDI attracted by low host country financial transparency that enables outbound profit shifting (OPS). Cross‐border acquisitions (CBAs) are a takeover route to achieving OPS and global tax optimization. Our empirical context is 39,951 CBAs by 315 acquirers from 26 countries in the 1996–2015 period. We hypothesize and empirically show a positive relationship between OPS and CBAs and the probability that equity ownership of CBAs will be high. We find that the relationship between OPS and CBAs is stronger the more attractive or income unequal the host market, or when the multinational's industry is vertically or horizontally integrated. We attribute the lack of support for our hypothesis that MNEs require in‐house capability to conduct OPS to tax planning consultancies’ services. These findings highlight the role of low financial transparency as a novel locational determinant of OPS‐pursuing FDI and emphasize the distinction between inbound and outbound profit shifting as manifestations of accountability‐avoiding FDI.","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":null,"pages":null},"PeriodicalIF":5.6,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140840157","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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