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Pledging of shares by controlling shareholders and implications for foreign institutional investors 控股股东的股份质押及对外国机构投资者的影响
IF 5.8 3区 管理学 Q1 BUSINESS Pub Date : 2025-01-01 DOI: 10.1016/j.bushor.2024.02.009
Nupur Pavan Bang , Nandil Bhatia , Sougata Ray , Kavil Ramachandran
Offering shares as collateral—that is, share pledging—to avail business or personal loans has increasingly been used as a financing tool by controlling shareholders in developing economies such as India. With the focus on protecting the rights of minority shareholders, pledging of shares has been subject to scrutiny as academicians, regulators, and corporate governance experts have highlighted the detrimental effects of share pledging on the firm. This study raises awareness about share pledging for uninitiated foreign institutional investors (FIIs) looking to invest in developing economies. The study highlights the conditions, including motivation to pledge, degree of ownership, and quantum of pledge, under which share pledging may be appropriate and when it may benefit the FIIs. We distinguish between pledging under different conditions and the implications arising under the outlined scenarios for FIIs. Our analysis provides potential investors with a comprehensive overview of pledging and of its possible consequences for the firm. The study urges investors to take a more nuanced view of pledging rather than painting all of it with the same negative stroke.
在像印度这样的发展中国家,提供股票作为抵押品——即股票质押——以获得商业或个人贷款已经越来越多地被控股股东用作一种融资工具。由于关注于保护小股东的权利,股票质押一直受到审查,因为学者、监管机构和公司治理专家都强调了股票质押对公司的有害影响。这项研究提高了希望投资于发展中经济体的外行外国机构投资者(fii)对股权质押的认识。该研究强调了股权质押的适当条件,包括质押动机、所有权程度和质押数量,以及在什么情况下股权质押可能有利于金融机构。我们区分在不同条件下的质押,以及在上述情况下对金融机构产生的影响。我们的分析为潜在投资者提供了质押的全面概述及其对公司可能产生的后果。该研究敦促投资者对质押采取更细致入微的看法,而不是用同样的消极态度来描绘所有质押。
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引用次数: 0
The power, process, and potential of mapping an entrepreneurial ecosystem 绘制创业生态系统图的力量、过程和潜力
IF 5.8 3区 管理学 Q1 BUSINESS Pub Date : 2025-01-01 DOI: 10.1016/j.bushor.2023.12.005
Brian J. Bergman Jr.
Fostering an entrepreneurial ecosystem (EE), the set of actors and factors coordinated to encourage entrepreneurial activity and innovation in a particular city or region, has become a focal point in contemporary economic development policy. But cultivating an EE is hard work, especially in places that are underresourced or typically not associated with entrepreneurship and innovation. This can leave motivated communities and their constituents overwhelmed about how and where to begin this lofty endeavor. This article suggests one starting point: creating an entrepreneurial ecosystem map. Uniquely fusing together extensive research on entrepreneurial ecosystems and cartography, this article examines the main elements of an EE and the basics of mapmaking before presenting an eight-step process for mapping an entrepreneurial ecosystem. Beyond articulating a basic process and key considerations for generating an EE map, this article suggests ecosystem maps can create value for a range of actors within and beyond the focal ecosystem and can serve several important roles in developing a community’s EE, aside from pointing entrepreneurs to needed resources. Further, I argue that the exercise of ecosystem mapping is just as—if not more—important than any maps it produces.
培育创业生态系统(EE),即在特定城市或地区协调一系列参与者和因素以鼓励创业活动和创新,已成为当代经济发展政策的一个焦点。然而,培育 EE 是一项艰巨的工作,尤其是在资源不足或通常与创业和创新无关的地方。这可能会让有积极性的社区及其选民对如何以及从何处开始这项崇高的工作感到不知所措。本文建议并指导了一个起点:创建创业生态系统地图。这篇文章独特地融合了对创业生态系统和制图学的广泛研究,概述了创业生态系统的主要元素和制图基础,然后介绍了绘制创业生态系统地图的八步流程。除了阐述绘制创业生态系统地图的基本流程和主要注意事项外,这篇文章还指出,生态系统地图可为重点生态系统内(外)的一系列参与者创造价值,除了为创业者指明所需资源外,还可在发展社区创业生态系统的过程中发挥若干重要作用。此外,本文还认为绘制生态系统图的工作与其产生的任何地图一样重要(如果不是更重要的话)。
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引用次数: 0
Meeting load paradox: Balancing the benefits and burdens of work meetings 会议负荷悖论:平衡工作会议的利益和负担
IF 5.8 3区 管理学 Q1 BUSINESS Pub Date : 2025-01-01 DOI: 10.1016/j.bushor.2023.10.002
Alexander C. Romney , Joseph A. Allen , Zahra Heydarifard
Work meetings are a significant part of professional life and have increasingly become a vehicle for organizations to get work accomplished. Recently, virtual meetings have become a more prominent feature of employees’ work lives, and scholarly attention to the changing nature of work-meeting dynamics has increased in tandem. Unsurprisingly, these circumstances have increased the number of meetings individuals participate in and the number of mediums through which these meetings occur. In this article, we introduce the meeting load paradox: increased meetings allow employees to better contribute to their organizations while consuming more of their personal resources. As such, an increased meeting load is only effective up to a certain threshold. To demonstrate this empirically, we conducted a field study with 199 full-time employees, providing initial evidence of one manifestation of the meeting load paradox (i.e., meeting participation, engagement, and creative performance increase as meeting load increases curvilinearly, creating an inverted U-shape effect). We find that a virtual medium increases the curvilinear effect while employee conscientiousness flattens the curvilinear effect. We discuss the important implications of these findings and ways employees and managers can navigate the meeting load paradox to thrive amid the proliferation of workplace meetings.
工作会议是职业生活的重要组成部分,并日益成为组织完成工作的工具。最近,虚拟会议已经成为员工工作生活中一个更加突出的特征,学术界对工作-会议动态变化性质的关注也随之增加。不出所料,这些情况增加了个人参与的会议数量和这些会议通过的媒介数量。在这篇文章中,我们介绍了会议负荷悖论:增加的会议可以让员工更好地为组织做出贡献,同时消耗更多的个人资源。因此,增加的会议负荷只在一定阈值内有效。为了从经验上证明这一点,我们对199名全职员工进行了实地研究,提供了会议负荷悖论的一种表现形式的初步证据(即,会议参与、敬业度和创造性表现随着会议负荷的增加呈曲线上升,形成倒u形效应)。我们发现虚拟媒介增加了曲线效应,而员工责任心使曲线效应变平。我们讨论了这些发现的重要意义,以及员工和管理者如何在工作场所会议激增的情况下应对会议负荷悖论。
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引用次数: 0
Inside front cover - ed board 内部前盖板
IF 5.8 3区 管理学 Q1 BUSINESS Pub Date : 2025-01-01 DOI: 10.1016/S0007-6813(24)00166-6
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引用次数: 0
Answering the three pivotal questions of why, how, what: Advice for authors 回答“为什么”、“怎样”、“什么”这三个关键问题:给作者的建议
IF 5.8 3区 管理学 Q1 BUSINESS Pub Date : 2025-01-01 DOI: 10.1016/j.bushor.2024.09.005
Idalene F. Kesner
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引用次数: 0
Content creators at a crossroads between decentralized and centralized social media 内容创作者面临分散式社交媒体的十字路口
IF 5.8 3区 管理学 Q1 BUSINESS Pub Date : 2025-01-01 DOI: 10.1016/j.bushor.2024.04.010
Hamid Khobzi , Ana Isabel Canhoto , Mohammad Sadegh Ramezani
Social media has become an important channel and source of income for content creators. However, the owners of centralized social media platforms may engage in practices and make decisions related to monetization, content moderation, and privacy and security, which may be detrimental to content creators’ earning potential and long-term success. As such, this article investigates the extent to which new types of social media platforms may address those three challenges due to their decentralized nature. Specifically, we analyze the potential and limitations of federated vs. blockchain-based social media platforms as platforms for content creators and provide recommendations for content creators. Given the role of user-generated content in the success of social media platforms, we also provide directions for research and development of decentralized social media to increase their relevance for content creators.
社交媒体已经成为内容创作者的重要渠道和收入来源。然而,集中式社交媒体平台的所有者可能会参与与货币化、内容审核、隐私和安全相关的实践和决策,这可能会损害内容创作者的收入潜力和长期成功。因此,本文调查了新型社交媒体平台由于其分散性而可能解决这三个挑战的程度。具体来说,我们分析了联邦与基于区块链的社交媒体平台作为内容创作者平台的潜力和局限性,并为内容创作者提供建议。鉴于用户生成内容在社交媒体平台成功中的作用,我们还为分散的社交媒体的研究和开发提供了方向,以增加其与内容创作者的相关性。
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引用次数: 0
Seven recommendations for managing projectification 管理项目的七条建议
IF 5.8 3区 管理学 Q1 BUSINESS Pub Date : 2025-01-01 DOI: 10.1016/j.bushor.2023.10.001
Steve Lovett , Taiwo Abraham , Joo Jung
Over the past half-century, projects and project-based work have become more and more important to organizations. This may be inevitable due to the increasing volatility, uncertainty, complexity, and ambiguity of our modern world. Many organizations routinely use project structures to develop new products, enter new markets, or upgrade IT systems, for example. A project is a set of tasks aimed at achieving a specific outcome, and a project structure is a temporary structure within which the tasks are performed. Projectification is a process of change whereby organizations increasingly adopt a project way of work. Hence, a projectified organization becomes a hybrid of temporary structures managed as projects and permanent structures managed as functions or departments. Projectification has many downsides, some of which stem from increased organizational complexity. Still, projectification fosters innovation and change, making it a necessary feature in many modern organizations. Ideally, projectification should be done gradually, and it requires significant changes throughout the organization. In this article, we present seven recommendations for senior managers in projectifying organizations.
在过去的半个世纪里,项目和基于项目的工作对组织来说变得越来越重要。这可能是不可避免的,因为我们现代世界的波动性、不确定性、复杂性和模糊性日益增加。例如,许多组织经常使用项目结构来开发新产品、进入新市场或升级IT系统。项目是一组旨在实现特定结果的任务,而项目结构是执行任务的临时结构。项目化是一个变化的过程,组织越来越多地采用项目工作方式。因此,一个项目化的组织变成了作为项目管理的临时结构和作为职能或部门管理的永久结构的混合体。项目化有很多缺点,其中一些源于增加的组织复杂性。尽管如此,项目化促进了创新和变革,使其成为许多现代组织的必要特征。理想情况下,投影应该逐步完成,并且需要在整个组织中进行重大更改。在本文中,我们为项目化组织的高级管理人员提出了七条建议。
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引用次数: 0
Beyond the ephemeral: Scaling experiences through productization 超越短暂:通过产品化扩展体验
IF 5.8 3区 管理学 Q1 BUSINESS Pub Date : 2025-01-01 DOI: 10.1016/j.bushor.2024.04.015
Louis-Etienne Dubois , B. Joseph Pine II , Janne Harkonen
Experiences have gained significant relevance in recent years. People now favor memorable experiences over tangible goods or intangible services, so experiences generally offer companies the prospect of both enhanced profit margins and improved reputations. Millennials and Generation Z consumers now fuel the growth of the experience economy. Yet the individualized, resource-intensive, and ephemeral nature of well-designed experiences makes them inherently harder to compress or to replicate at scale, thereby limiting productivity gains. This article highlights how some companies have successfully overcome this issue by standardizing experiences and making them more product-like. These simplified experiences still deliver emotional value for consumers but require far fewer company resources. Drawing from the productization literature, we break down the process and provide advice for developing experiences that can be both commoditized and customized.
近年来,经验具有重要的相关性。比起有形的商品或无形的服务,人们现在更喜欢难忘的经历,所以体验通常会给公司带来增加利润和改善声誉的前景。千禧一代和Z世代消费者现在推动了体验经济的增长。然而,精心设计的体验的个性化、资源密集型和短暂性,使得它们本质上更难以压缩或大规模复制,从而限制了生产率的提高。本文重点介绍了一些公司是如何通过标准化体验并使其更像产品来成功克服这个问题的。这些简化的体验仍然为消费者提供情感价值,但需要的公司资源要少得多。从产品化文献中,我们分解了这个过程,并为开发既可以商品化又可以定制化的经验提供建议。
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引用次数: 0
Not just for play: Why the metaverse should be leveraged for cocreation 不只是为了玩:为什么虚拟世界应该被用于共同创造
IF 5.8 3区 管理学 Q1 BUSINESS Pub Date : 2025-01-01 DOI: 10.1016/j.bushor.2023.11.002
Yuna Kim
Cocreation acknowledges consumers as collaborators rather than as mere recipients of products. While web-based platforms have facilitated the cocreation process by enabling firms to interact with a large number of consumers directly, continuously, and in real time, this article proposes that the metaverse, which refers to an interconnected network of virtual worlds that can be experienced synchronously by an unlimited number of users, should also be considered as a platform for cocreation. Although many firms are focusing on leveraging the metaverse to increase consumer engagement or to enhance retail experiences, this article focuses on its potential to eliminate knowledge and experience boundaries, which have been identified as a limitation of cocreating with consumers. Specifically, the metaverse enables consumers to develop innovative new product ideas by creating immersive environments that blend physical and virtual worlds to provide near-realistic experiences that were once beyond the scope of consumers’ normal experiences. I propose that the metaverse allows firms to incorporate essential elements of cocreation in immersive environments, and I provide guidelines on how the metaverse can be used effectively by integrating new experiences (extended reality), new motivations (shared experiences), and new partners (Gen Z).
共同创造将消费者视为合作者,而不仅仅是产品的接受者。虽然基于网络的平台通过使企业能够直接、连续和实时地与大量消费者进行交互,促进了共同创造的过程,但本文提出,元世界(指可以由无限数量的用户同步体验的虚拟世界互联网络)也应被视为共同创造的平台。尽管许多公司都专注于利用元宇宙来提高消费者参与度或增强零售体验,但本文关注的是它消除知识和经验边界的潜力,这被认为是与消费者共同创造的限制。具体来说,虚拟世界使消费者能够通过创造融合物理和虚拟世界的沉浸式环境来开发创新的新产品理念,从而提供曾经超出消费者正常体验范围的近乎真实的体验。我提出,虚拟世界允许公司在沉浸式环境中整合共同创造的基本要素,我还提供了如何通过整合新体验(扩展现实)、新动机(共享体验)和新合作伙伴(Z世代)来有效利用虚拟世界的指导方针。
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引用次数: 0
Opening the floodgates: How big companies can reap the benefits of internal crowdfunding 打开闸门:大公司如何从内部众筹中获益
IF 5.8 3区 管理学 Q1 BUSINESS Pub Date : 2025-01-01 DOI: 10.1016/j.bushor.2023.09.003
Claus P. Schöttl , Christian Homma , Tim G. Schweisfurth , Christina Raasch
Digital technologies enable employees at all levels to participate in distributed decision-making. We examine the design principles, benefits, and challenges of a new type of distributed decision-making: internal crowdfunding. We build on a 5-year case study of internal crowdfunding contests at Siemens to deepen our understanding of the design principles of internal crowdfunding and its potential for corporate innovation. Based on this data, we discuss the three design choices in internal crowdfunding (contributors, configuration, and control), find four key benefits (decentralization, cross-collaboration, institutionalization, and intrapreneurship), and identify three key challenges (dealing with rejected ideas, evaluation biases, and implementation and follow-on funding) and potential actions by managers to overcome them. The article contributes to both the emerging literature on internal crowdfunding and the literature on distributed decision-making.
数字技术使各级员工都能参与分布式决策。我们研究了一种新型分布式决策的设计原则、好处和挑战:内部众筹。我们以西门子内部众筹竞赛的5年案例研究为基础,加深我们对内部众筹设计原则及其对企业创新潜力的理解。基于这些数据,我们讨论了内部众筹的三种设计选择(贡献者、配置和控制),发现了四个关键好处(分权、交叉协作、制度化和内部创业),并确定了三个关键挑战(处理被拒绝的想法、评估偏见、实施和后续资金)以及管理者克服这些挑战的潜在行动。本文对新兴的内部众筹文献和分布式决策文献都有贡献。
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引用次数: 0
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Business Horizons
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