{"title":"企业的组织资本:同行重要吗?","authors":"","doi":"10.1016/j.irfa.2024.103619","DOIUrl":null,"url":null,"abstract":"<div><div>This paper explores the role of industry-level factor in determining organisation capital. Using US dataset, we show evidence that peers' organisation capital matters, and firms mimic their peers in formulating organisation capital. We also find that mimicking behaviour is more pronounced for firms operating in competitive product markets and environments with more information asymmetry, as is consistent with theoretical explanations for why firms imitate each other. Our results are robust to alternative measures of organisation capital and endogeneity concerns.</div></div>","PeriodicalId":48226,"journal":{"name":"International Review of Financial Analysis","volume":null,"pages":null},"PeriodicalIF":7.5000,"publicationDate":"2024-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Firms' organisation capital: Do peers matter?\",\"authors\":\"\",\"doi\":\"10.1016/j.irfa.2024.103619\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>This paper explores the role of industry-level factor in determining organisation capital. Using US dataset, we show evidence that peers' organisation capital matters, and firms mimic their peers in formulating organisation capital. We also find that mimicking behaviour is more pronounced for firms operating in competitive product markets and environments with more information asymmetry, as is consistent with theoretical explanations for why firms imitate each other. Our results are robust to alternative measures of organisation capital and endogeneity concerns.</div></div>\",\"PeriodicalId\":48226,\"journal\":{\"name\":\"International Review of Financial Analysis\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":7.5000,\"publicationDate\":\"2024-09-24\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Review of Financial Analysis\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1057521924005519\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Financial Analysis","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1057521924005519","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
This paper explores the role of industry-level factor in determining organisation capital. Using US dataset, we show evidence that peers' organisation capital matters, and firms mimic their peers in formulating organisation capital. We also find that mimicking behaviour is more pronounced for firms operating in competitive product markets and environments with more information asymmetry, as is consistent with theoretical explanations for why firms imitate each other. Our results are robust to alternative measures of organisation capital and endogeneity concerns.
期刊介绍:
The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.