首页 | 本学科首页   官方微博 | 高级检索  
相似文献
 共查询到20条相似文献，搜索用时 0 毫秒
1.
    
Through Canadian publicly traded companies, this study assessed how combining firms' continuous valuations by the market (structural model) with the value given in their financial statements (accounting model) could enhance prediction of a company's probability of default. The hybrid model outperformed other models. Specifically, estimated structural probabilities of default (PDs) contributed significantly to predicting default probabilities when they were included alongside accounting and macroeconomic variables in our hybrid model. These results were obtained with two versions of the structural model: the Merton model (Merton, 1973, 1974) and the default barrier model (Brockman & Turtle, 2003). Both models were estimated with the maximum likelihood method. Copyright © 2008 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

2.
    
Sales control systems are instruments used by firms to improve performance and other organizational outcomes. To understand their antecedents and consequences, this paper conducts a meta‐analysis based on 104 studies. The results showed significant relationships between behaviour‐ and outcome‐based control systems and the complexity of the products, bonuses, financial performance, sales innovation, organizational support and satisfaction with supervisors. The outcomes revealed that behaviour‐based control systems were the most effective mechanism in turbulent markets and for determining financial performance. However, outcome‐based control systems were the most efficient instrument for complex products.  相似文献   

3.
    
The field of strategic management indicates that there is no ‘one best way’ to manage strategy over time, leaving researchers with a pluralistic research setting. The findings here suggest that strategic organizational practices, a construct from the international business literature, can provide insight into the strategy formation process. I argue that strategic organizational practices, which are actor‐centered and embedded with values and beliefs, reflect both the content and process of strategy, and the organizational environment itself, thereby providing a pluralistic context of theoretical study. Through the exploration of four practices implemented by a large Canadian‐based multinational enterprise, the paper encourages a more explicit integration of strategic organizational practices, as a unit of analysis, into the field of strategic management. Copyright © 2017 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

4.
    
Corporate governance in Canada was examined by looking at the ultimate ownership structure of a large sample of publicly traded firms. Results suggest that small investors in Canada are vulnerable to corporate expropriation in large firms. Despite the similarities in institutional indexes, Canada displays different patterns of ownership structure than sister Anglo‐Saxon countries (the U.S. and the U.K). More importantly, results suggest that excess control drives expropriation over and above the typical Jensen type of agency problems that are attributable to regular separation of ownership and control. Equally important, firms headquartered in Quebec appear to be undervalued vis‐à‐vis firms headquartered in the rest of Canada. Copyright © 2007 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

5.
Couched within a theory of business, I explore what makes business scholarship influential and examine aspects that make a paper interesting to its audience. I present a framework that combines several attributes of influential scholarship and a model for interesting research. I provide examples of interesting scholarship and theorize as to why they are interesting and why they might be influential. I conclude with suggestions for what individuals and institutions can do to promote and sustain influential scholarship. Copyright © 2016 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

6.
Although the validity of integrity tests for predicting the focal criterion of counterproductive work behaviour (CWB) is well‐established, little research has yet addressed the incremental CWB‐related validity of integrity tests beyond basic personality traits. The present research addresses this issue by re‐analyzing data adopted from Marcus, Lee, and Ashton (2007), in which four different overt and personality‐based integrity tests and the HEXACO‐Personality Inventory (Lee & Ashton, 2004) were related to CWB. Integrity accounted for practically significant proportions of incremental variance beyond personality across all integrity tests, yet effect sizes of incremental validity dropped considerably if Honesty‐Humility was added to traditional Big Five dimensions. In addition, findings suggest that CWB is best predicted by a combination of integrity and personality tests. Copyright © 2013 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

7.
  相似文献   

8.
Morocco has reformed its health systems according to the New Public Management (NPM) model. Despite several positive results of the refo, our account and analysis of events related to the reform, as a chronological narrative from 2002 to 2012, along with findings of a qualitative study and semi‐structured interviews reveal organizational dysfunction alongside an increase in managerial problems. The Moroccan case is symptomatic of situations in many developing countries. It raises questions about the relevance of NMP in these countries and about the institutional prerequisites for successful public reforms in particular. Copyright © 2016 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

9.
    
Despite decades of research, how CEO compensation is determined remains an enigma. Drawing on agency, managerial hegemony, and institutional theoretical perspectives, we use hierarchical linear modelling—a multilevel analytic technique—to examine how firm‐, industry‐, and time‐level effects drive CEO compensation in US corporations. Results show that while cash salary is mostly driven by firm‐specific factors, equity‐based compensation responds to time‐level effects with firm‐ and industry‐level effects playing a marginal role. We argue that such evidence is consistent with the institutionalization of the CEO compensation determination process through the widespread adoption of benchmark peer‐group comparisons. Such practices underlie economy‐wide changes in CEO compensation that are increasingly disconnected from other fundamental firm‐ or industry‐specific factors. Copyright © 2015 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

10.
    
Market orientation theory was used to relate the implementation of target costing systems and business model innovation to firm performance using a sample of 189 electronics and information industry manufacturers in China. As expected, the implementation of target costing was positively associated with both business model innovations and firm performance. Further, the diversity of product development teams was also crucial. It positively moderated the association between target costing and business model innovation. Finally, the business model innovation was positively related to firm performance. Copyright © 2012 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

11.
    
This study considers the effect of freezing defined benefit pension funds on shareholder risk and returns. The conditional models used in this study directly assess the effects of a pension fund freeze on returns and on systematic and residual risk. While pension fund freezes do not significantly affect performance or systematic risk, they do significantly reduce short‐term residual risk. Pension fund freezes therefore do not generally present significant financial advantages to shareholders. Only shareholders of firms with pension funds in crisis would benefit from significant systematic risk reductions. Copyright © 2015 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

12.
    
This study considers the effect of freezing defined benefit pension funds on shareholder risk and returns. The conditional models used in this study directly assess the effects of a pension fund freeze on returns and on systematic and residual risk. While pension fund freezes do not significantly affect performance or systematic risk, they do significantly reduce short‐term residual risk. Pension fund freezes therefore do not generally present significant financial advantages to shareholders. Only shareholders of funds in crisis would benefit from significant systematic risk reductions. Copyright © 2015 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

13.
    
Despite increasing research on reverse knowledge transfer (RKT) from subsidiaries to headquarters (HQs), there is no academic consensus on the primary determinants influencing RKT. By incorporating four different facets (i.e., absorption, sharing, implanting, and application of market knowledge) of the phenomenon, we draw new insights into RKT. Through empirically testing the phenomenon in the Korean context, we reveal that market knowledge absorption by subsidiaries is a critical component that influences the knowledge integration mechanisms (KIMs) within MNC networks. Furthermore, KIMs within MNC networks are primary keys for absorptive capacity (AC) of HQs and knowledge relevance between HQs and subsidiaries. Our results extend our understanding of RKT, while also offering useful implications for MNCs that intend to establish subsidiaries in foreign markets. Copyright © 2016 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

14.
    
In this paper, we propose a new theory that sheds a different light on the potential relationship between Corporate Social Responsibility (CSR) and Stock Price Informativeness (PI). More specifically, we explain why a neutral association between CSR and PI can be an indicator of high economic and social welfare, while a positive association can be an indicator of both markets and governments failure. Under a neutral relationship, we argue that mandatory disclosure is getting firms to disclose near their optimal level. Therefore, any voluntary disclosure beyond the mandatory regime (such as CSR disclosure) should not improve PI. We base our hypothesis on public interest theory that suggests that regulators promote the public interest when a market failure is identified. On the other hand, under a positive association between CSR and PI, we argue that regulators do not offer adequate incentives for firms to disclose at their socially optimal levels because the level of voluntary disclosure by socially responsible firms is optimal in comparison to the level of mandatory disclosure provided by other firms with weak CSR engagement.  相似文献   

15.
    
We examine whether more analyst coverage translates into more informative stock prices and apply this to both developed and emerging markets. We measure price informativeness using the association between current stock returns and future earnings. We argue that more informative stock prices contain more information about future earnings. Results indicate that analysts' activities do not contribute to the impounding of future earnings information into current stock prices, in accordance with the view that analysts are outsiders who do not have full access to firm‐level information. We also find that analysts specialize according to industry and that “industry expertise” is limited to developed countries. Overall, our evidence is consistent with the explanation that analysts focus on gathering and mapping industry‐ and market‐level information (macroeconomic information) into stock prices. Copyright © 2013 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

16.
    
This study examines the relationship between market orientation (MO) and the performance of small and medium‐sized enterprises (SMEs) within the context of economic crisis. It distinguishes between two levels of MO: responsive market orientation (RMO) and proactive market orientation (PMO). Data were collected on a sample of 300 SME. Findings indicate that SMEs, confronted with an economic downturn, use a MO approach that is both proactive and responsive, and reveal the moderator effect of the SME manager's perception of an economic crisis on PMO/RMO–performance. Research and practical implications are discussed. © 2018 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

17.
    
Enterprise information systems (IS) implementation is often part of an organization's strategic IT initiatives and requires a large investment of organizational resources, yet may fail due to inadequate management of critical success factors (CSF). Using a revelatory case study of a multi‐partner COTS implementation process by a large Canadian government organization, this research investigates successful management of CSF through optimal stakeholder engagement and a balancing of control configurations. This research identifies four distinct project orientations related to stakeholder engagements—strategic, responsibility, harmony, and persuasion—that can be of significant value in managing CSF and other challenges during implementation and post‐implementation phases. In addition to the identification of a need for control balancing in a multi‐partner IS implementation, three key drivers responsible for triggering control balancing are identified: (a) shared understanding, (b) negative anticipation, and (c) deviation of expectations. Copyright © 2017 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

18.
    
This study integrates Social Cognitive Theory with the Job Demands‐Resources Model to examine self‐efficacy in relation to emotional exhaustion and work‐family conflict (WFC) in a sample of 192 employees. The results obtained through structural equation analysis show: a negative association between self‐efficacy and both work overload and emotional exhaustion; a positive relationship between work overload and both emotional exhaustion and WFC; that work overload mediates the relation between self‐efficacy and both emotional exhaustion and WFC; that role ambiguity moderates the relation of self‐efficacy with work overload; and that tenure in the sales territory moderates the relation of work overload with WFC. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

19.
    
The person–environment fit theory posits that the term “environment” can be defined at different levels. This study delineates two environmental dimensions (strategic and organizational) and empirically examines the potential moderating effects of two strategic factors (intra‐ and inter‐regional diversification) on the relationship between two organizational factors (subsidiary ownership and host‐country experience) and MNE subsidiary staffing composition. The results indicate that strategic and organizational dimensions have impacts on subsidiary staffing composition. This study also finds that the interaction effects between strategic and organizational factors are significant only when there is congruence between demands from different environmental dimensions.  相似文献   

20.
    
Our study investigates the adoption of the Balanced Scorecard (BSC) as a strategic planning system. We empirically examine the firm‐level factors—business‐level strategy, firm size, environmental uncertainty, investment in intangible assets, and prior performance— that are posited to differentiate BSC adopters from nonadopters. Drawing on a sample of Canadian firms and utilizing both survey and archival data, we find that BSC adopters (a) are more likely to follow a Prospector or Analyzer business strategy, (b) are significantly larger, (c) exhibit significantly higher environmental uncertainty than nonadopters, and (d) have weaker prior performance. Copyright © 2011 ASAC. Published by John Wiley & Sons, Ltd.  相似文献   

设为首页 | 免责声明 | 关于勤云 | 加入收藏

Copyright©北京勤云科技发展有限公司  京ICP备09084417号