To File Or Not To File? Systemic Incentives, Corporate Control, and the Bankruptcy Decision

This research investigates the distinctions between bankrupt firms and equally leveraged firms that avoid bankruptcy. Building upon the systemic incentives of bankruptcy law, and specifically those applicable to Chapter 11 reorganizations, the study argues that the firm’s governance and capital structure characteristics moderate the relationship between the firm’s financial condition and the filing decision. The results of this study indicate that, contrary to agency theoretical predictions, firms with high levels of inside equity ownership and secured indebtedness file in poorer financial condition than peer firms with low levels of these variables. By contrast, firms with high levels of outside equity ownership and short-term indebtedness file when in relatively better financial condition.     

Ideal Values and Counter‐ideal Values as Two Distinct Forces: Exploring a Gap in Organizational Value Research

Motives and values at work have long been key topics of business and management studies. In a focused review of the literature on the nature of human values, this paper identifies a disconnect with the literature on human motivation, despite the otherwise inherent relatedness of the two fields. Specifically, extant theory and research have conceptualized values generally in terms of ideals, namely desired end‐states that individuals strive to approach. Although values, by this definition, express motivational concerns, theories of human motivation suggest that there are two forces to consider, i.e. approach and avoidance motivation. By applying this ‘two forces’ perspective to value research, this paper identifies a gap in the literature on values: namely, the idea that individuals are also influenced by counter‐ideal values, i.e. end‐states that they deliberately seek to avoid. The identification of this gap opens up new opportunities for value research in general and organizational value research in particular. To pave the way for future research, this paper critically discusses the few studies that have taken first steps in that direction and outlines research questions that may follow for issues such as employer branding and person–organization fit. This paper closes by providing suggestions on how to tackle the issue in organizational practice.     

Families in the Life Course: Interdependency of Roles,Role Configurations,and Pathways

Families are central in the unfolding life course. They have both internal and external dynamics that reflect and characterize the modern life span, and a life course perspective has particular utility for understanding the role and implications of families for individuals and society. The purpose of this paper is 3‐fold. First, we offer a family life course perspective that delineates core concepts of roles, role configurations, and pathways, specifies the links between them, and highlights the importance of linked lives and structural context. Second, we elaborate a latent class approach for modeling the multilayered dynamic interdependencies that characterize modern family life. Third, we provide an empirical example by considering the timing of childbearing, teen parenthood, and its place in the transition to adulthood using women's data from the National Longitudinal Survey of Youth 1979 (N= 2,191). We conclude by discussing further avenues of family research that are enhanced with a life course approach and complementary latent structure methodology.     

A Person-Environment Fit Model for Virtual Organizations

While the increasing sophistication of information technology has led to the spread of virtual organizations, there has been very little research on what factors contribute to individuals’ effectiveness in such organizations. This paper argues that organizations possess different degrees of virtuality based on four dimensions of temporal, spatial, cultural, and organizational dispersion. Using a person-environment fit framework, a theoretical model that identifies individual qualities required to fit into virtual organizations, virtual teams, and virtual jobs is developed, taking into account dimensions and degrees of virtuality. Mechanisms for enhancing fit in virtual organizations as well as theoretical and practical implications of the model are addressed.     

How Co-operative is Co-operative Purchasing in Smaller Firms?: Evidence from UK Engineering SMEs

Most SMEs do not try to engage in co-operative purchasing arrangements, and even those that do don’t handle them very well. Examining a sample of SME engineering firms from the UK Midlands for signs of more advanced practice, the authors identify three types of behaviour: firms with deliberate strategies (where co-operative purchasing is a consciously-designed and long-term part of management policy); firms with close ties with their suppliers but which still operate fundamentally adversarial policies (where, despite some development of practice, defensive, short-term and ‘low-trust’ attitudes still predominate) and those whose strategies, maybe of long standing, ‘just happened’ and are described as still emergent. The article analyses these positions to yield lessons for managers, recognising that, as firms grow, emergent strategies will need replacing with something more codified.     

Turning Three Sides into a Delta at General Motors: Enhancing Partnership Integration on Corporate Ventures

General Motors had enjoyed global operations that were based on exports, acquisitions, joint ventures and strategic alliances throughout the 20th century. Its global-programme strategy appeared assured. However, the carmaker came unstuck when it came to creating a large-scale collaborative effort involving its own internal units. The Delta Small Car Program, involving three fully internal GM units, was terminated after its goals failed to materialise. The carmaker’s long-standing cultural tradition of autonomy for its units was what made collaboration between them difficult. We examine this GM global programme, placing it in its historical context. Our primary database consists of the perceptions and experiences offered to us by a cross-section of programme participants. By examining partner integration at the working level, we identify insights and offer recommendations pertaining to venture structure and dynamics and their role in venture success.