CEO career horizon,corporate governance,and real options: The role of economic short‐termism

Research Summary: Combining studies on real options theory and economic short‐termism, we propose that, depending on CEOs’ career horizons, CEOs have heterogeneous interests in strategic flexibility, and thus, have different incentives to make real options investments. We argue that compared to CEOs with longer career horizons, CEOs with shorter career horizons will be less inclined to make real options investments because they may not fully reap the rewards during their tenure. In addition, we argue that long‐term incentives and institutional ownership will mitigate the relationship between CEOs’ career horizons and real options investments. U.S. public firms as an empirical setting produced consistent evidence for our predictions. Our study is the first to theoretically explain and empirically show that a CEO's self‐seeking behavior will impact real options investments. Managerial Summary: This article helps to explain how a CEO's self seeking‐behavior may shape a firm's real option investment, which could result in different level of strategic flexibility. We argue that CEOs with short career horizons have less time to exercise their firms’ real options, which should lower the investments in the firms’ real options portfolios relative to CEOs with long career horizons. We study a sample of U.S. public firms and find strong evidence that a CEO's expected tenure in the firm is positively related to the real options investments at the firm level. We find that this agency issue can be mitigated by adopting appropriate corporate governance mechanisms such as long‐term incentives and institutional investors.     

A Kaleckian Perspective on Financialisation and Distribution in Three Main Eurozone Countries before and after the Crisis: France,Germany and Spain

The purpose of this article is twofold. First, we examine if, and to what extent, a general Kaleckian analysis of the potential effects of financialisation on income shares in advanced capitalist economies is of relevance for the three Eurozone countries under investigation—France, Germany and Spain—in the period before the recent financial and economic crisis. Second, we study changes in the financialisation–distribution nexus that have occurred in the course of and after the financial and economic crisis. We find that the countries examined here have shown broad similarities regarding redistribution before the crisis, although there are some differences in the underlying determinants. These differences have continued during the period after the crisis and have led to different results in the development of distribution since then.     

Dual boundary spanning: Toward a typology of outside‐in open innovation in the Canadian context

The extant literature runs short in understanding openness of innovation regarding and the different pathways along which internal and external knowledge resources can be combined. This study proposes a unique typology for outside‐in innovations based on two distinct ways of boundary spanning: whether an innovation idea is created internally or externally and whether an innovation process relies on external knowledge resources. This yields four possible types of innovation, which represent the nuanced variation of outside‐in innovations. Using historical data from Canada for 1945–1980, this study unveils different implications of these innovation types for different levels of innovation novelty. Copyright © 2016 ASAC. Published by John Wiley & Sons, Ltd.     

Collaborative cost-cutting: productive efficiency as an interdependency between public organizations

Collaboration between public sector organizations is typically understood as a response to complexity. Agencies collaborate in order to address complex, cross-cutting policy needs that cannot be met individually. However, when organizational size is a constraining factor in public service efficiency, collaboration can also reduce costs by capturing scale economies unavailable to organizations of sub-optimal size. Using organization theory, the article conceptualizes these two different triggers for public sector collaboration, and builds a framework for tracing their wider impact upon the formation, operation, and outcome of inter-agency partnerships. The framework is illustrated, and its implications for future research are explored.     

基于生态位理论的浙江省区域农产品质量竞争力评价研究

[目的]把握区域农产品质量竞争力不仅是促进区域农产品富有竞争力的积极方法,也是稳步提升农产品质量安全的重要做法。[方法]文章运用生态位态势理论,构建了以区域为评价主体的农产品质量竞争力评价体系,并从两个层面对浙江省各地级市农产品质量竞争力进行研究。在纵向层面上,测算了各地级市农产品质量竞争力生态位宽度,对各地级市农产品质量竞争力状态进行了评价和排序。在横向层面上,测算了各地级市农产品质量竞争力生态位重叠度,对各地级市农产品质量竞争力的合作程度进行了评价与区分。最后整合运用生态位协同、生态位扩充等理论,提出浙江省各地级市提升农产品质量竞争力发展策略。[结果]通过区域农产品质量竞争力生态位宽度研究发现,杭州和宁波的农产品质量竞争力较强,其生态位宽度分别为0.103 6和0.103 2,而丽水和舟山农产品质量竞争力相对居后,其生态位宽度分别为0.079 0和0.075 6;通过区域农产品质量竞争力生态位重叠度研究发现,可将全省划分为西北平原区域、东南部沿海区域和西南部山地区域等3个区域,各区域内部地级市可通过协同合作提升农产品质量竞争力。[结论]根据各地级市生态位宽度和生态位重叠度的差异,应采取生态位扩充、生态位协同、生态位分离的策略,从而因地制宜提升区域农产品质量竞争力。     

Retaining and engaging older workers: A solution to worker shortages in the U.S.

Over the next 20 years, many organizations will experience significant shortages of skilled workers. At the same time, because of longer lifespans and a gradual rise in what society has considered the traditional retirement age of 65, older workers will represent a growing proportion of the American workforce. For a variety of reasons, many of these older workers desire to continue working and, if retained and engaged, they constitute a significant labor source for mitigating the emerging shortages of skilled workers. However, many organizations are not prepared to take advantage of this demographic shift; some even generate barriers that impede the retention and engagement of older workers. In this article, we identify a variety of ways in which organizations can retain and engage older workers to meet their staffing needs and enhance organizational performance. We also discuss the relationship of these proposals to prominent theories of motivation in management.     

抵押物处置与农房抵押贷款困境：基于演化博弈的分析

研究目的:分析农民住房财产权抵押(简称农房抵押)贷款困境的主要原因以及抵押物处置对农房抵押贷款行为的影响机理。研究方法:演化博弈论。研究结果:农房抵押贷款发展面临困境的关键在于金融机构惜贷,而抵押物处置难是激发金融机构惜贷的重要原因,但是降低抵押物处置难度只是推动农房抵押贷款发展的必要而非充分条件。研究结论:要促进农房抵押贷款发展,除了必须降低抵押物处置难度外,还需要构建完善的农房抵押贷款制度体系。     

Organizational attention and learning under regulatory intervention: Governmental investigation into auto engine quality

We examine the efficacy of government regulation on a firm's product. We draw on the behavioural approach of organization research in order to understand the micromechanisms whereby the regulatory intervention process affects corporate operation. We suggest that while government investigations may limit the improvements in product quality by distracting a firm's attention, this unintended outcome depends on the extent to which the firm engages in a substantive problem‐solving process with the regulator during an investigation process. A longitudinal analysis of the US government's investigation into motor vehicle engine production offers overall support for our argument. The paper concludes with a discussion of the implications that our findings present to learning theory and institutional literature. Copyright © 2017 ASAC. Published by John Wiley & Sons, Ltd.     

Performance evaluation of China's high-tech innovation process: Analysis based on the innovation value chain

The Chinese high-tech industry has developed greatly since the beginning of China's “National High-tech R&D (863) Program” and “China Torch Program”. This paper introduces a conceptual model extended from the innovation value chain model to simultaneously estimate the R&D and commercialization efficiencies for the high-tech industries of 29 provincial-level regions in China. To match reality, a network DEA incorporating both shared inputs and additional intermediate inputs is constructed to open the “black box” view of decision making units used in single-stage DEA. This study is the first attempt to link the R&D and commercialization with a solid theoretical foundation and feasible mathematical methods. The empirical findings show that most of the 29 regions have low efficiency in the commercialization sub-process compared to the R&D sub-process, although there are regional differences in China's high-tech industry. Pearson correlation shows that the R&D sub-process is not closely correlated to the commercialization sub-process in terms of efficiency. Our analysis can provide information for the formulation of policies to achieve high innovation efficiency.