Path-related empirical research on M&A-outcome: review and research agenda

This article attempts to reflect the current state and progress of contemporary research on financial and non-financial M&A outcome. Based on a review of 183 empirical M&A studies an integrative framework is developed, in which impact factors are classified into four major dimensions to explore the impact on M&A outcome: antecedents, transaction content characteristics, transaction process characteristics, and the transaction itself. The review reveals that M&A research is dominated by studies focusing on state variables at the expense of path-related variables. The review also shows that, to date, neither state-related research nor path-related research on financial and non-financial M&A outcome categories have reached maturity. Although there is still room for clarifying the impact of various state-related variables, the most valuable new insights are expected to emerge from researching path-related variables. Building on these insights, an extensive future research agenda is presented, which focuses on path-related research questions and methodological issues.     

群体思维理论的发展及其实证研究综述

对群体思维理论的发展过程进行了简要回顾. 重点对其自1971 年提出以来的实证研 究,包括案例分析和实验检验,进行了比较详尽的总结和评述. 并对这两种研究的方法、内容和 结果进行了比较. 最后提出了群体思维理论研究下一步应该关注的问题     

PIMS: A tool for developing competitive strategy

PIMS (Profit Improvement of Market Strategy) is a programme of the Strategic Planning Institute designed to provide a factual and scientific tool for strategic planning. Its great strength lies in the data base of comprehensive data, covering market, competitive and production structure, on over 2000 businesses spanning a period of at least 5 years. It reflects strategic experience of a wide range of industries, in a wide range of competitive environments.Research is carried out on the data base, focusing on those structural and operational characteristics which determine longer term performance, to discover the empirical ‘laws’ of business strategy. These are incorporated in a series of profit and cash flow predicting models encapsulating the strategic experience in the data base. The models are used to analyse members' businesses to highlight current strengths, weaknesses and strategic potential as well as to indicate and evaluate strategic options, all on the basis of real business experience.     

Country institutional environments and international strategy: A review and analysis of the research

We review and analyze the growing body of literature that addresses the institutional context of international strategy. By examining articles in eleven major journals from January 2008 to July 2020, we identify six major categories of international strategies and implementation approaches: market entry and internationalization, political strategies, multinational technology and innovation, multinational corporate social responsibility, multinational headquarters and subsidiary relationships, and international human resources management. A parallel analysis of the relevant institutional variables categorizes institutions into eight types: economic institutions, political institutions, regulatory institutions, normative institutions, administrative institutions, cultural/cognitive institutions, demographic institutions, and knowledge institutions. These eight categories allow us to contextualize the institutional environment in which the six international strategies and implementation approaches are employed. Our review identifies important progress in international strategy research that has yielded a greater understanding of institutional impact on multinational activities. Yet, it also reveals that many areas of international strategy research remain fragmented, highlighting the need for future research and suggesting new directions for such investigations. Our analysis concludes by identifying knowledge gaps in each of the six strategy categories and making a series of suggestions for relevant future research.     

A managerial interfaces perspective for competitive action research

Current theory acknowledges the central role of top managers in shaping the firm's overall pattern of competitive activity. But it gives short shrift to the multifaceted processes by which diverse participants affect the strategic work of analyzing, formulating, and implementing competitive actions. We propose managerial interfaces as a complementary perspective – one where interfaces among top managers, relevant stakeholders, and other strategic contributors both enable and constrain that strategic work. We advance propositions regarding how different properties of managerial interfaces give rise to specific competitive action patterns. We conclude with a range of implications for theory and directions for future research.     

HRM系统、竞争战略与企业绩效关系的实证研究

战略人力资源管理理论认为人力资源管理(HRM)系统和企业竞争战略之间的匹配关系会对企业绩效产生影响.通过类型学和分类学两条主线归纳并总结了关于 HRM 系统及其与企业绩效关系的研究,提出了 HRM 系统、竞争战略与企业绩效关系的假说,并以133家样本企业为研究对象,对理论假说进行了检验.研究发现,采取内部型 HRM 形态的企业的绩效高于采取市场型 HRM 形态的企业;环境特征(产业技术变革、劳动力市场竞争)对 HRM 系统形态与企业绩效关系的调节效应仅得到部分支持,而企业规模的调节效用没有得到支持;企业的竞争战略对人力资源战略选择的影响很小;HRM 系统与竞争战略匹配企业的绩效高于没有匹配企业的假说没有得到支持.最后,对研究结论进行了讨论,分析了其局限性和未来研究建议.     

A dynamic perspective on the resilience of firms: A systematic literature review and a framework for future research

This study aims to answer the following research question: how is the resilience of firms defined in the business and management field? In doing so, we answer recent calls for research about a more thorough conceptualisation of the resilience of firms and its definition. We conducted a systematic literature review of 66 selected papers published between 2000 and 2017. By means of inductive content analysis, we analyse the definitions of ‘resilience’ and elaborate a novel conceptual framework that introduces a dynamic perspective on the resilience of firms. The proposed framework overcomes existing definitional fragmentation and raises awareness of the temporal dimension in the conceptualisation of the resilience of firms. We contribute to extant business and management literature on the resilience of firms by proposing a model that articulates two main paths for explaining organisational resilience, i.e. absorptive resilience and adaptive resilience paths. We also identify a set of key capabilities needed to be successfully resilient at the different stages of the two paths.     

基于竞争差分析的占线单向交易策略

针对交易者事先仅知道价格波动范围的占线单向交易问题,基于Savage后悔值准则提出了竞争差分析方法,通过引入一个假想的能够控制价格的“对手”将原来的单人决策问题转化为双人零和博弈问题.与竞争比分析相比,竞争差分析由于目标函数的数学形式更简单,因而可以直接采用逆向归纳法求解获得使最大后悔值(竞争差)最小化的稳健的占线交易策略,并找出对于交易者而言所有可能的最糟糕情况,而不必像竞争比分析那样需要事先猜测最优占线策略的特征;此外,数值模拟结果表明,基于竞争差分析的占线算法更节省计算时间,且在解决收益最大化问题时不像竞争比分析那样过于保守,一般具有更好的期望绩效.     

Responsive supply chain: A competitive strategy in a networked economy

Supply chain management (SCM) has been considered as the most popular operations strategy for improving organizational competitiveness in the twenty-first century. In the early 1990s, agile manufacturing (AM) gained momentum and received due attention from both researchers and practitioners. In the mid-1990s, SCM began to attract interest. Both AM and SCM appear to differ in philosophical emphasis, but each complements the other in objectives for improving organizational competitiveness. For example, AM relies more on strategic alliances/partnerships (virtual enterprise environment) to achieve speed and flexibility. But the issues of cost and the integration of suppliers and customers have not been given due consideration in AM. By contrast, cost is given a great deal of attention in SCM, which focuses on the integration of suppliers and customers to achieve an integrated value chain with the help of information technologies and systems. Considering the significance of both AM and SCM for firms to improve their performance, an attempt has been made in this paper to analyze both AM and SCM with the objective of developing a framework for responsive supply chain (RSC). We compare their characteristics and objectives, review the selected literature, and analyze some case experiences on AM and SCM, and develop an integrated framework for a RSC. The proposed framework can be employed as a competitive strategy in a networked economy in which customized products/services are produced with virtual organizations and exchanged using e-commerce.     

Michael Porter on competitive strategy reflections and round table discussion

In a recent series on “The Business of Excellence”, Thames Television, UK, transmitted a talk by Michael Porter on the competitive strategy of companies. A Round Table of executives with a special interest in the subject was then asked to discuss Porter's ideas. The European Management Journal is pleased to have been given the copyright to edit and publish the talk and the lively and wide-ranging debate which followed.Michael Porter is Professor at Harvard Business School and the foremost authority on competitive strategy. He is author of over thirty articles and six books, including Competitive Strategy and Competitive Advantage. The former is the leading work in the field, having been reprinted fourteen times and translated into nine languages. The Round Table set up to comment on Professor Porter's address included Sir Christopher Hogg, the Chairman of Courtaulds, Trevor Chinn from Lex Service Group which distributes Volvos in the UK and electronic components in the US and Europe, David Sainsbury of the UK's largest grocery chain, and Patricia Grant of Norfrost, who, with her husband, founded a company which makes chest freezers in the north of Scotland. Mrs Grant is also a recent Business Woman of the Year. The programme was introduced and chaired by Ian Hay Davison, advisor, Arthur Andersen and Company, and director. Midland Bank Group plc.     

The Job Demand-Control (-Support) Model and psychological well-being: A review of 20 years of empirical research

The Job Demand-Control (JDC) model (Karasek, 1979) and the Job Demand-Control-Support (JDCS) model (Johnson, and Hall, 1988) have dominated research on occupational stress in the last 20 years. This detailed narrative review focuses on the JDC(S) model in relation to psychological well-being. It covers research from 63 samples, published in the period 1979-1997. In the review a distinction is drawn between two different hypotheses prevailing in research on the models. According to the strain hypothesis of the JDC model, employees working in a high-strain job (high demands-low control) experience the lowest well-being. The buffer hypothesis states that control can moderate the negative effects of high demands on well-being. Translating these hypotheses to the expanded JDCS model, the iso-strain hypothesis predicts the most negative outcomes among workers in an iso-strain job (high demands-low control-low social support/isolation), whereas the buffer hypothesis states that social support can moderate the negative impact of high strain on well-being. Although the literature gives considerable support for the strain and iso-strain hypotheses, support for the moderating influence of job control and social support is less consistent. The conceptualization of demands and control is a key factor in discriminating supportive from nonsupportive studies. Only aspects of job control that correspond to the specific demands of a given job moderate the impact of high demands on well-being. Furthermore, certain subpopulations appear to be more vulnerable to high (iso)strain, whereas others benefit more from high control. On the basis of the results of this review, suggestions for future research and theoretical development are formulated.     

Government policies towards innovation: A review of empirical findings

Since the Second World War, governments in Western mixed economies have become increasingly involved in promoting technical innovation in industry. The analytical basis for this involvement is deficient, as is empirical information and analysis on its effects. But it is probable that, from an economic viewpoint, governments have been mistaken in supplementing normal industrial activity by financing large-scale development projects in technically sophisticated industry. They should instead be financing longer-term basic and applied research, as well as increasing technical awareness in more traditional industries. More needs to be known about the factors affecting innovative decisions in industrial firms, including the effects of industry-specific characteristics and of government policies.     

Technology acquisition strategy in an internationally competitive environment

This research empirically examines the technology strategies of multinational firms operating in the US market. The findings suggest that external reliance on product and process technologies has a negative impact on firm success. Furthermore, geographic distance between key activities moderates the role of technology strategy on international firm success. Also, the complementary assets, dominance of the product design, and the degree of appropriability have a direct impact on firm performance.     

可折旧设备在线租赁的随机性竞争策略

应用在线算法与竞争分析研究在线租赁问题是近年来国内外的一个研究热点.在一般设备在线租赁的基础上,提出了可折旧设备在线租赁问题.针对离线人具有遗忘性竞争对手的特点分别给出了可折旧设备在线租赁在有无利率情形下的随机性竞争策略.基于在线-离线成本比值矩阵分别证明了有无利率下随机性策略的竞争比,说明了折旧因素的引入使得可折旧设...     

Team resilience: A scoping review of conceptual and empirical work

ABSTRACT

The purpose of this scoping review was to examine the literature on team resilience to gain insight into current thinking regarding its definition and conceptualisation, and to identify how researchers have operationalised and measured this concept. We conducted a systematic scoping review using the 5-phase approach proposed by Arksey and O’Malley. A total of seven databases were searched, followed by a citation search of eligible papers via Google Scholar. Of the 275 articles identified via the search process, 27 papers were deemed eligible for review. Several key findings regarding the literature on team resilience were observed: (i) definitions varied in terms of content (e.g. input or process), breadth (e.g. unidimensional versus multidimensional), and quality (e.g. essential and necessary attributes of key components); (ii) there was a predominance of single-level conceptualisations of team resilience; and (iii) there has been a reliance on cross-sectional research designs in empirical studies, which is incongruent with the dynamic nature of this concept. Key recommendations from this scoping review focus on definitional, theoretical, and methodological issues.     

Value creation through spin-offs: A review of the empirical evidence

This paper reviews the literature on the factors that influence the wealth effects associated with the announcements of corporate spin-offs (also known as demergers). Meta-analysis is used to summarize the findings of 26 event studies on spin-off announcements. A significantly positive average abnormal return of 3.02% is found during the event window. Returns are higher for larger spin-offs, for divestments that are tax or regulatory friendly and for spin-offs that lead to an improvement of industrial focus. It is also found that spin-offs that are later completed are associated with lower abnormal returns than non-completed spin-offs. The second part of the paper overviews studies on the long-run stock price performance of spin-offs. Even though early studies find a long-run superior performance, this effect is no longer found in later studies that use more refined statistical tests.     

Exploring social networks on the team level—A review of the empirical literature

Despite the extensive set of findings on the determinants of team effectiveness, academic understanding of one potentially critical set of determinants, social networks, is limited. This paper is a review and a discussion of the literature on the impact of social networks in small groups such as teams. More specifically, the interest is in the effects of the structural characteristics of the networks on team effectiveness. The review covers various types of small groups: subjects of laboratory studies, student teams, innovation and R&D teams, and other organisational groups. The research findings for each type are reviewed, and the article concludes with a comparison of the variables studied. The progress that has been made is highlighted, suggestions for further research are made, and the key contributions to this area of study are summarised.     

There is more to contracts than incompleteness: a review and assessment of empirical research on inter-firm contract design

This paper aims at achieving a greater understanding of how contracts operate in practice through a review of recent empirical literature on inter-firm contract design. Our focus on the structure of contractual agreements differentiates this review from others that dedicated ample coverage also to the antecedents of the decision to contract and of the choice of contracting versus integration. Our framework develops Stinchcombe’s (Organization Theory and Project Management, 1985) hypothesis that contracts are an organizational phenomenon. This allows us to uncover considerable but unevenly distributed evidence on a number of organizational processes formalized in relational contracts, which partially overlap with the processes that are observed in integrated organizations. It also enables us to describe contracts in terms of a larger number of dimensions than is commonly appreciated. The paper summarizes the evidence by proposing a general and tentative framework to guide the design of relational contracts, discusses a number of lingering issues, and outlines directions for further research on contracts as an organizational phenomenon.

Qualitative research on leadership: A critical but appreciative review

This article reviews a large number of articles that derive from qualitative research on leadership that were published prior to 2004 in peer-reviewed journals. The article then goes on to examine critically but appreciatively the ways in which qualitative research on leadership is and is not distinctive. This review shows that while qualitative research has made some important contributions to certain areas of leadership, such as the role of leaders in the change process, it is sometimes not as distinctive, when compared to quantitative research, as might be supposed. The piece also examines studies that combine quantitative with qualitative research. The different ways in which the two approaches are combined is a particular emphasis in this examination. In addition, the article explores the issue of whether the corpus of research that has been accumulated by qualitative researchers can be combined with that of quantitative researchers. A central ingredient of the discussion of qualitative research is the tendency for many researchers not to build sufficiently on the studies of leadership conducted by others. It is argued that giving greater attention to this issue will allow the contributions of qualitative research on leadership to become clearer.     

A systematic and critical review of research on respect in leadership

Respect is an important psychological and interpersonal phenomenon that has been included in various theoretical and empirical approaches to leadership for nearly 70 years. In this systematic and critical review article, we provide a comprehensive summary and critique of theories, definitions, measures, and empirical studies of respect in leadership. We first provide an overview of the historical and theoretical background, including the most common theories, definitions, and measures that inform empirical studies of respect in leadership. Second, we present a systematic literature review of empirical studies on respect in leadership, including a critical evaluation of research designs and statistical analyses that support claims of the validity of various conceptualizations of respect that pertain to the study of leadership. Finally, we offer a new working definition of respect in leadership, and an accompanying conceptual framework which informs a number of recommendations for future theory development, empirical research, and leadership practice.