How does the combination of R&D and types of knowledge matter for patent propensity?

This paper examines whether the combined effects of R&D efforts and the types of knowledge obtained from the invention process determine patent propensity. With this aim, we investigate a unique, manually collected sample of firms and the Spanish and European Patent Offices to analyze how the combination of R&D and knowledge codifiability, observability and simplicity influence the patent decision. Our results contribute to the literature and assist R&D managers by showing that codified knowledge has a positive impact on patent propensity. Furthermore, we find that knowledge observability and simplicity only influence patent propensity when they are combined with internal R&D expenditures.     

Knowledge attributes and the choice of knowledge transfer mechanism in networks: the case of franchising

In this paper we develop a knowledge-based view on the choice of knowledge transfer mechanisms in franchising that integrates results from the information richness theory. Starting from the information richness theory we argue that tacitness of system knowledge, operationalized by codifiability, teachability and complexity, determines the information richness of the knowledge transfer mechanisms of franchising firms. We examine the following hypotheses: (1) If the franchisor’s knowledge is characterized by a high degree of codifiability and teachability and a low degree of complexity, knowledge transfer mechanisms with a lower degree of information richness are used; (2) If the franchisor’s knowledge is characterized by a high degree of complexity and a low degree of codifiability and teachability, knowledge transfer mechanisms with a higher degree of information richness are used. We test these hypotheses by using data from 52 franchising firms in the Austrian franchise sector. The data provide support for the hypotheses.     

Outsourcing and Performance in Entrepreneurial Firms: Contingent Relationships with Entrepreneurial Configurations*

This article develops and examines an empirical typology of entrepreneurial firms, based on organizational and life cycle characteristics. Results indicate five entrepreneurial configurations representing the essential contingent features of age, size, innovation, and governance structure (Elders, Giants, Innovators, and Owners) and one configuration representing a mix of all features (Balanced). We found that (i) outsourcing affected financial performance in entrepreneurial firms and (ii) configurations moderated this relationship. Results support the use of salient contingent features of age, size, innovation, and governance structure to predict outsourcing effectiveness in the entrepreneurial configurations. That is, entrepreneurial firms that aligned their configurational characteristics with outsourcing tended to have greater gains in financial performance. From a resource dependency perspective, managing these alignments has important implications for entrepreneurial firm performance.     

Implementation of new technology: towards greater manufacturing flexibility

Changes in market characteristics over the past several years are forcing firms to eliminate/minimize dependency on costly buffers of capacity, lead time, or inventory. One way to accomplish this is via appropriate adaptation and enhancement of existing technological infrastructure. Recent technological advances present firms with a wide array of alternative technologies. In this paper, we discuss the impact of new technology on the manufacturing environment and the problems associated with its implementation. We present an integrated framework for implementing such technology based on a consistent hierarchy of organizational objectives and a general foundation of constraint theory.     

On the assessment of corporate productivity changes and their impact on financial performance

This paper explores desirable characteristics of a corporate productivity measure (CPM). Such a measure is defined and offered as an alternative to approaches presented in the literature. In addition, the accuracy of several productivity measures is explored and the CPM developed here is observed to be most precise. This finding is utilized to assess the dependency of profitability on productivity. For the sample firms a surprisingly low impact is observed, which demonstrates that productivity changes generally do not influence profitability to a high degree.     

Examining the effects of negative affectivity on self- and supervisor ratings of job stressors: the role of stressor observability

In this study, we investigated job stressor ratings through Lazarus' transactional stress theory and the usefulness of supervisor ratings as an alternative to employee self-reports. Based on the finding that negative affectivity (NA) causes incumbents to over-report job stressors, we hypothesized that supervisors may also be affected by their NA when appraising an incumbent's job stressors. Building upon the literatures on judgement processes and social-cognitive information processing, we further hypothesized that stressor observability is an important boundary condition. Specifically, we hypothesized that the impact of NA on both self- and supervisor-reported job stressors should increase as stressor observability decreases. Moreover, we hypothesized that incumbent and supervisor ratings would converge less as stressor observability decreases. Data from 260 incumbent-supervisor dyads showed that stressor observability reduced the impact of supervisor NA on supervisor ratings (but not the impact of incumbent NA on incumbent stressor ratings). Further, as hypothesized, incumbent and supervisor ratings showed less convergence the less observable the stressor was. The results highlight the importance of personal and situational factors in the stressor appraisal process – an issue that advances both research and practice in the field of stressor ratings.     

Coping with Diversity in Alliances for Innovation: The Role of Relational Social Capital and Knowledge Codifiability

Alliances are increasingly considered a key element for innovation, especially in knowledge‐intensive firms. While this is true, the mere membership to alliances does not explain innovation performance, and thus the alliance's characteristics that determine high performance must be examined. This research address the question of how the diversity of partners in a certain alliance for innovation affects innovation performance, and how this influence can be moderated by certain characteristics, such as the relational dimension of social capital and the type of knowledge shared among partners. The empirical analysis of a sample of 90 biotech companies shows that there is an inverted U‐shaped relationship between alliance partner diversity and innovation performance and confirms the positive moderating effects of relational social capital and knowledge codifiability. These findings contribute to the current research on alliances for innovation by providing empirical evidence on why some alliances perform better than others. Also, the results suggest that the study of alliance partner diversity, as a determinant of alliance performance, should not be addressed in isolation.     

Informality and Formality in Medium‐sized Companies: Contestation and Synchronization

Accounts of managerial practice in small and medium‐sized firms frequently draw upon notions of formality and informality. In this paper, we explore the relationship between these concepts through an analysis of managerial approaches to employment relations practice in six growing, medium‐sized organizations. Drawing on recent conceptual work on informality and formality, we argue that the use of the terms in previous analyses tends to neglect the co‐dependency of both the concepts and managerial approaches to the employment relationship. We present an alternative conceptualization of formalization and informalization processes that emphasizes synchronization through interactional practices. Through this analysis, we suggest that debate in this area can be reframed through thinking of informality and formality as a dualism rather than a dichotomy, and challenge the notion that small firms must, should or inevitably do move from informality to formality. From this, we construct an inclusive model of formality and informality that better reflects practice and enables further analytical development.     

Strategic planning in government-dependent businesses

As the role of government has expanded in various countries, standard distinctions between the public and private sectors have become blurred. This paper explores the special context within which strategic planning must take place in organizations with a very high dependence on government. Four types of government dependency are considered: ownership dependency (public enterprises); regulation dependency (private, regulated firms); input-dependency (e.g. non-profits dependent on state funding); and output-dependency (e.g. defence contractors who sell a considerable portion of their output to governments).Despite their seeming differences, all four types of government-dependent organizations (GDOs) experience five distinctive problems that seriously limit the relevance of traditional planning models (or what are often referred to as ‘rational, comprehensive models’). They are: fragmented strategic decision-making authority; heightened goal ambiguity; politicization of strategic decision-making; short-term orientation and internal bureaucratization.The concepts of strategy and strategic planning are as relevant to Government dependent organizations (GDOs) as they are to other kinds of firms, although the planning system has to be designed somewhat differently. Six tentative guidelines for designing the planning system in GDOs are presented in the paper: (1) plans must be ‘negotiated’ rather than ‘formulated’ in GDOs; (2) outsiders must be involved in the planning process; (3) socio-political issues must be integrated with technoeconomic tissues; (4) top management must play an active role in running the system, especially in managing interfaces with government; (5) the planning system should emphasize flexibility over discipline or rigor and (6) plans must be written up with the expectation that much of their contents could become public knowledge.The paper concludes with the view the GDOs may have a lot to learn from one another despite superficial differences in institutional status (public vs private) and nature of goals (for- profit vs not-for-profits).     

Do ‘soft law’ board gender quotas work? Evidence from a natural experiment

In a new era of “open governance”, in which societal and corporate change is taking place, 15 predominantly European countries, including Spain, enacted board gender quotas to increase the share of women on boards. In this paper, we explore the effectiveness of the European Union’s first “soft” quota – the 2007 Spanish Gender Equality Act recommending all large public and private Spanish firms to appoint a target of 40 percent of each gender to serve as board directors by 2015. The Act provides an incentive in that quota compliant firms may receive a preference for the tendering of public contracts. We draw on institutional and resource dependency theories to motivate the first empirical test of a “soft” quota which is distinct from Norway’s “hard law” board gender quota, and more similar to the proposed EU-wide quota. Using a large novel panel of 767 Spanish firms and 2786 firm-year observations from 2005 to 2014, we exploit the Spanish Act as a natural experiment and employ a difference-in-differences model. We find that less than nine percent of targeted firms fully comply with the quota. Firms that depend on public contracts are significantly more likely to increase female representation, although quota compliant firms do not actually benefit from the Act’s potential incentive. The results highlight the Spanish government’s lack of commitment to the quota, and that the quota’s normative obligations did not trigger the adoption of gender-balanced boards.     

转型背景下企业有效应对组织复杂性的机理研究

如何借助不同类型的组织复杂性为企业创造效能已成为当前理论界及实践界研究的热点.本文基于文献研究提出了不同组织复杂性与组织效能的关系及影响这一关系的复杂适应性机理的假设.实证研究表明,转型经济环境下,结构复杂性与组织效能存在倒U型曲线关系,战略复杂性与组织效能存在U型曲线关系,目标复杂性与组织效能存在倒U型曲线关系;在复杂适应性的五个维度中,动态适应在组织复杂性与组织效能关系中起完全中介作用;自组学习及自主创新在这一关系中起部分中介作用;自发变革和柔性协作的中介作用不显著.研究结论对企业有效应对组织复杂性有重要指导意义.     

COMPARING FORECAST ACCURACY FOR EXPONENTIAL SMOOTHING MODELS OF EARNINGS-PER-SHARE DATA FOR FINANCIAL DECISION MAKING

This paper relates recent research in predicting accounting earnings per share (EPS) to an experiment comparing the performance of extrapolative forecasting models. The paper points out the usefulness of the results to decision-making processes such as those used in portfolio analysis or financial management. The statistical results of the experiment point to the usefulness of the Holt-Winter (HW) model in predicting EPS for a random sample of firms over a 20-year horizon. For short-term forecasting, the HW model provides relatively accurate forecasts in comparison to other methods used. HW is likely to be a costeffective alternative to more time-consuming and expensive techniques.     

Impact of Hazardous Substances Regulations on Small Firms in Delaware and New Jersey

Regulations under the 1990 Amendments to the Clean Air Act impose significant requirements on firms handling hazardous chemicals. The nature of the regulations would suggest that small firms, because of limited resources and other structural limitations, would experience more difficulty complying with the regulations than large firms. To understand the difficulties imposed by the regulations on small firms, we interviewed ten small firms in Delaware and New Jersey, states with existing hazardous regulations similar to those being considered by the U.S. Environmental Protection Agency, and evaluated their responses to state regulations. The impacts of the environmental regulations on the firms and on the risk levels of their businesses are discussed. Propositions for research into small firms compliance are developed. Possible means for reducing the regulatory burden on small firms while enhancing regulatory effectiveness are suggested.     

The use of multiple scenarios by U.S. industrial companies

A growing number of firms have responded to the ‘unpredictable future’ by developing ways to measure their proposed strategies against several plausible alternative futures. Probably the most widely used of these techniques is multiple (or alternative) scenario analysis (MSA).Survey results indicate that approximately 150 of the Fortune ‘1000’ industrials now use MSA in their formal planning processes. Most have begun using MSA within the last 3 or 4 years. Furthermore, a number of other companies are considering its use. Survey results also show that firms do not follow the relatively rigorous procedures as suggested in the literature. Also, MSA seems to be most successful when management is both knowledgable and involved with scenarios from the beginning.     

资本结构变化对组合投资有效边界的影响

在经典的组合投资均值-方差模型基础上,本文考虑融资因素对组合投资优化的影响,引入资本结构摩擦因子,研究其对组合投资有效边界的影响;给出了含资本结构摩擦因子作用的组合投资有效边界解析式,以及该有效边界根据资本结构因子取值而移动、变化的性质。     

An autecological interpretation of the firm and its environment

Explaining the survival and failure of firms is an important issue for researchers and managers of firms in society. Ecological approaches to the study of firms have existed for over 100 years, and have been increasingly popular during the past 40 years, especially since the pioneering works of Hannan and Freeman on one hand, and Aldrich on the other. This paper, in keeping with recent developments elsewhere in mainstream ecology outlines and positions the theoretical and philosophical foundations of an alternative ecological approach, autecology, that has not yet been formulated for the study of firms. The autecological approach affords the individual firm more autonomy in creating its own future evolutionary trajectory. The idea of an ecological complex is developed to provide clear focus on what is central to the application of autecology to the study of firms. The paper also considers several emergent research opportunities that highlight the potential value of employing an autecological approach to the study of firms.     

现代企业最优控制权安排的规范性解释

本文在张维迎(1995)的基础上,建立现代企业的最优控制权安排模型。与张的结论相同,企业最优控制权安排取决于企业成员的相对重要性和相互监督的效力。现代企业中,企业成员的相对重要性取决于其拥有的人力资本和非人力资本的重要性,而监督的效力又依赖于人力资本的特质。因此,在现代企业中,让拥有人力资本的董事会或经理掌握企业的控制权是较优的安排。     

Corporate Financial Distress and Turnaround Strategies: An Empirical Analysis

Extant research on corporate turnaround from financial distress has prescribed a range of strategies to effect corporate recovery. However, no large sample study has examined the general applicability and effectiveness of these strategies. We set out to test the effectiveness of strategies and identify the underlying factors of effectiveness – the impact of timing, intensity and implementation of strategies on corporate recovery. We examine a sample of 166 potentially bankrupt UK firms drawn from 1985 to 1993 and track their turnaround strategies for a period of three years from distress. These strategies include operational, asset, managerial and financial restructuring. Our results show recovery and non-recovery firms adopt very similar sets of strategies, and managers of non-recovery firms restructure more intensively than recovery firms Nevertheless, non-recovery firms seem far less effective in strategy implementation than their recovery counterparts. Whereas recovery firms adopt growth-oriented and external-market focused strategies, non-recovery firms engage in fire-fighting strategies.     

HRM practices of JIT firms in Canada

Many firms have adopted the just-in-time (JIT) philosophy to compete successfully in the global environment. The literature suggests that die success of JIT implementation depends on sound human resource management (HRM) practices that will attract, maintain, and retain employees with the required workforce characteristics. However, only a few field studies investigate the effectiveness of such practices. This empirical study examines HRM practices of 69 JIT manufacturing firms in Ontario, Canada. Specifically, it identifies important workforce characteristics, recruitment sources and selection instruments used by JIT firms. It also evaluates die degree of change in training, compensation, employee retention, and labour relations practices in the firms since JIT implementation. The level of attainment of various expected outcomes of JIT implementation and die competitiveness of the JIT firms are investigated. Problems faced by HRM managers are also discussed.     

Internal Infrastructural Impacts on RFID Perceptions and Commitment: Knowledge,Operational Procedures,and Information‐Processing Standards

For many firms, radio frequency identification (RFID) suggests not only a new alternative to existing tracking methods but also a means to a range of previously cost‐prohibitive internal control and supply chain coordination innovations. In any event, and even in light of possible external pressures to adopt, the full potential of RFID for an individual firm must ultimately be viewed in consideration with the infrastructural capabilities of that firm. Furthermore, because adoption decisions are fundamentally based on managerial perceptions, it is critical to consider how certain forms of infrastructure provide the necessary transparency into other infrastructural characteristics to augment such decisions. We use multisource survey data in this work to consider several elements that contribute to this infrastructure and subsequently to perceptions of RFID benefit and actual commitment to adoption. Results demonstrate that the complementary effects of these infrastructural capabilities significantly impact both perceptions of and commitments to RFID.