Curvilinear relationship between cultural distance and equity participation: An empirical analysis of cross-border acquisitions

We examine the relationship between national cultural distance and equity participation using an analysis of a sample of more than 100,000 cross-border acquisitions from 1976 to 2008. We find that cultural distance has a curvilinear (U shaped) relationship with equity participation: Acquiring firms make large equity acquisitions at both low and high cultural distances and small equity acquisitions at moderate cultural distances. In addition, we find that industry relatedness of acquisitions positively moderates the relationship between cultural distance and equity participation: Acquiring firms take a higher equity stake for a given cultural distance if the acquisitions are in a related industry. Our findings offer important insights into firms' market entry behavior and provide guidelines for managers about entry strategies.     

The asymmetric effects of exploitation and exploration on radical and incremental innovation performance: An uneven affair

Scholars have argued that the exploitation–exploration interaction provides a source of competitive advantage beyond that provided by each individually. However, we know little about the mutual effects of exploitation and exploration on either incremental or radical innovation performance. To address this gap, we examine data from 171 manufacturing firms. We find incremental innovation performance is highest when exploitation interacts with an intermediary level of exploration. Radical innovation performance, however, is solely driven by exploration. A coupling with exploitation is not effective. We contribute to the extant literature, first, by disentangling the interaction effects of exploitation and exploration on radical and incremental innovation performance, respectively. Second, we extend extant literature that agrees that maintaining an appropriate balance of exploitation and exploration is critical for innovation performance and that has conceptualized this balance as symmetrical presence and magnitude of exploitation and exploration. In particular, we provide evidence in support of an asymmetric relationship.     

Efficiency analysis of university departments: An empirical study

Universities play an important role in the development of a country in this age of the knowledge economy. As government subsidies to universities have been reducing in recent years, the more efficient use of resources becomes an important issue for university administrators. This paper applies data envelopment analysis (DEA) to assess the relative efficiency of the academic departments at National Cheng Kung University in Taiwan. The outputs considered are total credit-hours, publications, and external grants; and the inputs utilized by the departments are personnel, operating expenses, and floor space. An assurance region is constructed by the top administrators of the university to confine the flexibility in selecting the virtual multipliers in DEA. Four groups of departments of similar characteristics are categorized via an efficiency decomposition and cluster analysis. The aggregate efficiency indicates whether the resources have been utilized efficiently by a department and the efficiency decomposition helps identify the weak areas where more effort should be devoted so that the efficiency of the department can be improved.     

Connecting external knowledge usage and firm performance: An empirical analysis

Prior research suggests that firms create breakthrough innovations by using external knowledge, but it also underscores the difficulties firms face in acquiring and applying external knowledge. In this paper, we combine these insights to examine the conditions under which external knowledge usage will either enhance or erode firm performance. In particular, we argue that high external knowledge usage has a negative effect on performance when firms enter multiple new product markets, but a positive effect on performance when firms using external knowledge have higher absorptive capacity. We find general support for our hypotheses, which we test using patent citation data from the global integrated circuit manufacturing industry. Our findings have important implications for managers of firms making strategic decisions about their firms’ product portfolios and the degree to which they use external knowledge.     

Choosing between international technology licensing partners: An empirical analysis of U.S. biotechnology firms

This paper examines the potential factors that might influence U.S. biotechnology holders’ licensing decisions regarding whom to choose as foreign licensing partners in the context of a global environment. The important explanatory factors relate to the knowledge appropriability regime of the licensee country (i.e. strength of IPR protection), familiarity through prior interaction, business similarity between partners, and prior independent experience as a licensor. U.S. biotechnology firms also license technology more to partners who have joint manufacturing, marketing, and research and development (R&D) experience. The results show that transaction cost considerations weigh heavily when choosing international licensing partners.     

An empirical study on the relationship between perceived employability and employee performance

Despite the growing attention to employability in the era of job insecurity, there have been a limited number of empirical studies regarding the positive effect of employees’ perceived employability (PE) on performance. The purpose of this study is to examine the relationship between PE and three domains of employee performance: in-role, adaptive, and extra-role. This study also tests the moderating effect of the perceived quality of employment on these relationships. To test our hypotheses, we surveyed 334 employees and their 37 immediate supervisors working for an organization in South Korea. We utilized official performance ratings and supervisors’ ratings to measure the three domains of performance. The results show that PE is positively related to in-role, adaptive, and extra-role performance. An interaction between PE and the perceived quality of employment on extra-role performance is also evident. Implications for research and human resource development practices will be provided.     

Empathic emotion and leadership performance: An empirical analysis across 38 countries

The purpose of our research is to examine the relationship between subordinate ratings of a target-leader's empathic emotion and boss ratings of performance of that target-leader. Furthermore, using hierarchical linear modeling, we assess whether the cultural background of the target-leader moderates this relationship. Our results show that leaders who are rated by their subordinates as engaging in behaviors that signal empathic emotion are perceived as better performers by their bosses. In addition, we found that the GLOBE societal culture dimension of power distance was a significant cross-level moderator of the relationship between empathic emotion and performance. Implications for leading in cross-cultural and multicultural contexts are discussed.     

The multi-level effects of corporate entrepreneurial orientation on business unit radical innovation and financial performance

Corporate enterprises must support its business units to adapt to changes that are increasingly dramatic and complex. In response, corporate entities must organize to embed a corporate entrepreneurial orientation (EO) that pervades the actions of its business units to create the radical innovations needed to thrive in these circumstances. By developing a global willingness–local ability framework, we test a multi-level model of corporate EO by conceptualizing its effects on business unit radical innovation and business unit financial performance, moderated by business unit R&D resourcing and business unit absorptive capacity. With data from 2820 business units of 1290 Taiwanese corporations from two separate surveys, we find support for our theoretical expectations and contribute much-needed knowledge of the multi-level effects of EO and the conditions to turn EO into actual innovation activity and profit from it.     

Continued usage of technology versus situational factors: An empirical analysis

Mainstream technology management literature suggests that research on continued usage of technology is largely based on two perspectives, namely (i) a forward-looking perspective that underpins the technology acceptance model (TAM), and (ii) a retrospective perspective that is based on the expectation disconfirmation theory (EDT). We propose an extended framework to re-examine continued usage of technology by combining these two perspectives and incorporating individual, social and environmental factors as additional variables. Our study, in the context of users’ continued usage of e-learning tools, reveals that in addition to user satisfaction and perceived usefulness, self-efficacy, system service support and social pressure are significant factors that affect continued usage of technology. Our findings enrich the theoretical framework of continued usage of technology, and provide e-learning developers with managerial insights on how to entice learners to continue using their e-learning tools.     

中国股市隔天收益波动率的实证研究

对上证综合指数5分钟高频数据计算得到的隔天收益率的行为进行了实证研究.在与前人研究结果比较的基础上得出结论,开盘交易机制主要改变的是隔天收益波动的高峰出现的位置.发现隔天收益波动率出现一个"驼峰"形状,认为这主要是由于开盘采用连续竞价所致.并从各区间收益相关性的角度对隔天收益方差给予了解释.此外还观察到隔天收益率的方差和一阶自协方差有着近似线性的反向变动关系,并利用一个价格变动模型对此现象进行了解释.     

An approximation algorithm for stochastic multi-level facility location problem with soft capacities

Journal of Combinatorial Optimization - Facility location problem is one of the most important problems in the combinatorial optimization. The multi-level facility location problem and the facility...     

An empirical analysis of the usefulness of disaggregated accounting data for forecasts of corporate performance

This paper presents an empirical test of the theoretical arguments given by Barnea and Lakonishok in relationship to the usefulness of disaggregated accounting data. This usefulness to forecast corporate performance is held to vary with the inter-relationship of the performance of reported business segments. Applying a similar approach, the empirical results reported here suggest that company profile, proxied by a measure of company diversification, has an impact on the predictive ability of disaggregated data.     

The ISO 9000 international quality registration: An empirical analysis of implications for business firms

The purpose of this article is to explore managerial perceptions of ISO 9000 standards. Previous surveys found general agreement that ISO 9000 registration influenced supplier selection, improved customer satisfaction, and enhanced operating efficiency. The present survey of production managers in 212 U.S. locations gathered data related to the perceived impact of registration on their businesses. Data analysis suggests strong agreement with benefits provided by improved documentation, the use of ISO 9000 as a marketing tool and greater export potential as a result of implementing these standards. Respondents did not agree that ISO 9000 provides positive benefits in product development or reduces production time. Annual sales were included to determine if there is a difference in perceived impacts based on firm size. Managers of smaller firms held a stronger belief that ISO 9000 registration results in cost reduction and increases export potential than did large firm managers. Small firms with less well developed export connections may find ISO 9000 registration useful in helping to establish a reputation that will help make the necessary connections in the export markets. The improvements in documentation of products and process may highlight areas of potential production efficiencies and possible cost reductions.     

Team flexibility's relationship to staffing and performance in complex projects: An empirical analysis

We examine the role of flexibility in project team effectiveness. Specifically, we hypothesize that (1) it will mediate the relationship between staffing quality and effectiveness and (2) its relationship with team effectiveness will be moderated by project complexity, where more flexibility will be required when projects are complex. Hypotheses are tested using data collected from 60 cross-functional project teams. The results indicated that flexibility mediates the relationship between staffing quality and team performance (goal achievement and cohesion, but not project efficiency). Additionally, we find that two-dimensions of project complexity moderate the flexibility–performance relationship. Specifically, the more alternatives a team must consider, the stronger the negative relationship between flexibility and project efficiency is. The flexibility–cohesion relationship also was moderated, such that the relationship is more positive when the project is more ambiguous and more negative when the project team faces many alternatives. Implications for research and practice are discussed.     

Modeling market information processing in new product development: An empirical analysis

This research explores the antecedents and consequences of market information processing during the development process of new high-tech products. To this end, we develop and test a conceptual model for market information processing in three generic stages of the new product development (NPD) process (predevelopment, development and commercialization). In addition, we explore the relationships between market information processing, its antecedents, and product advantage and success. We test our model with responses from 166 NPD-managers in Dutch high-tech firms. The findings show that the market information processing variables are related differentially to new product outcomes, even when controlling for product advantage and product newness to the market. In addition, we found that companies can enhance market information processing for new high-tech products by influencing project priority and flexibility to new products, and by reducing interdepartmental conflict.     

An empirical study of the relationship between a self-service technology investment and firm financial performance

More and more enterprises are taking advantage of self-service technologies (SSTs) in their customer-related operating activities, especially service firms. Although research on SSTs is prevalent, few studies have examined the impact of SSTs on firm financial performance. Given the growing importance of SSTs in the service industries in general and in the banking industry in particular, we therefore empirically examined the impacts of ATMs, one of the most widely accepted SSTs, on bank financial performance. Contrary to the existing literature, our results show ATMs have a positive relationship with profitability. However, we find no association between ATMs and growth performance.     

An empirical test of the relationship between agency/communion and influence in work groups

A model for understanding effective managerial practices is introduced. Effective Japanese and American managerial practices are explored for their relationship with the model's key concepts of agency (a goal-oriented sense of self, characterized by self-assertion, self-expansion, and self-protection) and communion (selflessness—a willingness to admit vulnerability and need to create nurturing relationships). It is hypothesized that agency and communion are each positively related to influence effectiveness. The hypothesis is tested with 120 individuals from 13 U.S. Navy decision-making groups using two questionnaires (ISQ-I and ISQ-II) completed by different subgroups of one's fellow group members. These questionnaires, respectively, measure agency/communion (independent variables) and various forms of influence on the group (dependent variables). Additionally, express-control and want-control preferences are measured, using the FIRO-B questionnaire, to test if these variables' relationship with agency and communion is in the expected direction. Both hypotheses were strongly confirmed.     

The social structure of leadership and creativity in engineering design teams: An empirical analysis

Creativity is essential for research and development efforts. Unfortunately, little is known about how the role of team leaders determines the team’s creativity. Based on a sample of 39 engineering design teams in the space industry, this study examines the effects of leader position within different flows of communication on team creativity. The results indicate that the balance between holding a central or a peripheral position indeed determines the creativity of such teams. Specifically, very central and very peripheral positions of team leaders within the work-flow and awareness network hamper team creativity, whereas peripheral situated team leaders within the information network propel the creativity. In addition, team leaders stimulate creativity when they stay central in the external information network. In managerial terms, the analyses implicate that stimulating engineering design team creativity requires team leaders to smartly limit their involvement in communication and mainly act as gatekeepers to external sources of information.     

Organizational emotional capability,product and process innovation,and firm performance: An empirical analysis

The concept of emotional capability is one of the competencies that a firm has which is vital for the daily life of the organization. However, the effect of emotional capability, involving the dynamics of encouragement, displaying freedom, playfulness, experiencing, reconciliation, and identification constructs on the firm innovativeness (i.e., product and process) is interestingly missing in the technology and innovation management (TIM) literature. In this study, by investigating 163 Turkish firms, the dynamics of encouragement and experiencing were found to have a positive association with both firm product and process innovativeness; and the dynamics of displaying freedom have a positive relationship with firm process innovativeness. We also demonstrate that the impact of emotional capability constructs on firm innovativeness is contingent upon environmental uncertainty. Specifically, we find that the influence of the dynamics of encouragement on firm product innovation increases with increased rate of environmental uncertainty. Interestingly, the relationship between the dynamics of experiencing and product innovation across low, medium, and high levels of environmental uncertainty is an ∩-shaped. And, the relationship between the dynamics of displaying freedom and product innovation across low, medium, and high levels of environmental uncertainty is a U-shaped. In addition, we show that a firm's emotional capability influences its financial and market performance via firm innovativeness. We discuss the theoretical and managerial implications of the study's findings.     

The comparison between trade-in and leasing of a product with technology innovations

Companies can adopt trade-in and/or leasing to shorten consumers׳ upgrade cycle and gain control over secondary markets. In this paper, we consider a monopolistic manufacturer who offers a technology product to a market consisting of heterogeneous consumers. We focus on an exogenous, stochastic innovation process that determines the availability of new technology and consequently, residual value of the current product. We derive the optimal pricing strategy of trade-in and leasing, respectively, examine its impact on the manufacturer׳s expected profit, and compare the performance of the two strategies. Trade-in protects the manufacturer against residual value risk and allows the flexibility of offering the option at different innovation states separately. Leasing, on the other hand, provides the manufacturer an opportunity to circumvent low new product prices and thus increases expected profit when product reuse profitability is high. The interplay between the two forces, product reuse profitability and new product price, determines the preference between trade-in and leasing. Our findings provide monopolistic manufacturers guidance on how to optimally employ the trade-in and leasing strategies.