Information Sharing of Sensitive Business Data with Employees

This study reexamines the determinants and consequences of publicly traded manufacturing firms sharing sensitive business data with their producation employees. Using more detailed information sharing variables, we find that providing a variety of types of information is associated with higher compensation, that firms are less likely to share relatively more senistive information with employees, and that sharing future market strategies is negatively related to various measures of firm profitability. The implications for firm and public policies are also discussed.     

Under Pressure: The Impact of Recession on Employees in Ireland

Ireland is experiencing the worst recession since the foundation of the state, and the effects on the labour market have been dramatic. This article explores the impact of recession for those still in employment by examining work pressure, using two large, nationally representative workplace surveys from 2003 (boom) and 2009 (recession). We find a significant increase in work pressure between 2003 and 2009. Staff reductions and company reorganization are both associated with increased work pressure, as is current job insecurity. Other job changes, like large pay cuts, increases in responsibility and monitoring are also associated with increased work pressure. We argue that negative organizational and job changes in the previous two years play an important role in accounting for the rise in work pressure.     

The Role of Market Information in New Product Success/Failure

Although no single variable holds the key to new product performance, many of the widely recognized success factors share a common thread: the processing of market information. Understanding customer wants and needs ultimately comes down to a company's capabilities for gathering and using market information. And another well-acknowledged success factor the integration of marketing, R&D, and manufacturing focuses on the sharing of information. In other words, a firm's effectiveness in market information processing—the gathering, sharing, and use of market information—plays a pivotal role in determining the success or failure of its new products. Brian D. Ottum and William L. Moore describe the results of a study that examines the relationship between market information processing and new product success. They also explore the organizational factors that facilitate successful processing of market information, and thus offer ideas for better managing the development of new products. The respondents—marketing, R&D, and manufacturing managers from Utah-based computer and medical device manufacturers—provided information about 58 new products, including equal numbers of successes and failures. The survey responses reveal strong relationships between product success and market information processing, with success most closely linked to information use. In other words, the gathering and sharing of information are important, but only if the information is used effectively. In 80 percent of the product successes studied, the respondents ultimately possessed and used a greater than average amount of market information. And in 75 percent of the failures, the respondents knew less than average about the market at project inception, and gathered or used less than the average amount of market information during the project. For the projects in this study, the integration of marketing, R&D, and manufacturing contributed not only to the sharing and use of information, but also to overall project success. However, the results of the study suggest that the way in which a project is organized plays only an indirect role in determining new product success—most likely by improving the processing of market information. From a managerial perspective, the most important variables identified in the study are market information shared, market information used, and financial success.     

New Product Activities and Performance: The Moderating Role of Environmental Hostility

In the race to bring new products to market, a company may be tempted to cut corners in the new product development (NPD) process. And a hostile environment—that is, one marked by intense competition and rapid technological change—only heightens the pressure to reduce NPD cycle time. However, hasty completion of the NPD process may actually jeopardize a product's chances for success. In a study of Fortune 500 manufacturers of industrial products, Roger J. Calantone, Jeffrey B. Schmidt, and C. Anthony Di Benedetto explore the relationships among new product success rates, proficiency in the execution of NPD activities, and the perceived level of hostility in the competitve environment. Their study examines how proficiency in NPD activities affects the odds of success for industrial new products. Adding environmental hostility to the mix, they also investigate whether the perceived level of hostility in the competitive environment affects the relationship between NPD proficiency and success. In this way, they provide insight into the factors managers must consider when attempting to accelerate cycle time in a hostile competitive environment. The respondents to their survey—142 senior managers involved in NPD or product innovation rated environmental hostility in terms of the extent to which the firm perceives its industry as safe, rich in investment opportunity, and controllable. To assess NPD proficiency, respondents were asked about their firms' performance in predevelopment marketing and technical activities, development marketing and technical activities, and financial analysis. Respondents assessed new product performance in terms of product profitability. As expected, the responses indicate that proficiency in the performance of NPD activities increases the likelihood of new product success. Proficiency in development marketing activities produced the largest increase in likelihood of success—nearly 25 percent over that of projects in which respondents rated performance of these activities at any level below “most proficient.” More importantly, the responses indicate that a hostile competitive environment increases the impact of NPD proficiency. In other words, by improving performance of key NPD activities under hostile environmental conditions, a firm can greatly increase the likelihood of success for a new industrial product. Rather than simply cut corners in the NPD process, a firm faced with a hostile environment must strike a balance between speed and quality of execution.     

Top Management Compositional Effects on Corporate Entrepreneurship: The Moderating Role of Perceived Technological Uncertainty

Because corporate entrepreneurship (CE) is central to firms' ability to compete, adapt, and perform in increasingly turbulent environments, there is a great interest in understanding its origins. To date, prior studies have overwhelmingly focused on the architectural factors—the structures, cultures, resources, and incentives—that shape entrepreneurial processes within organizations and the environmental conditions that stimulate entrepreneurial activity. However, some researchers have recently begun to argue that the requirements and challenges of CE fall most saliently on the shoulders of the firm's top management team. Focusing on various aspects of top managers' activities, roles, and processes, this line of research demonstrates the enabling role of top management teams in their firm's pursuit of CE. We extend this research by examining the impact of top management team composition in terms of human capital and social capital on CE. Additionally, because external environment perceptions within top teams shape their sociopolitical process and framing of the issues facing their firms, we submit that a team's level of perceived technological uncertainty moderates the impact of the team's human and social capital on CE. We find support for these arguments using multisource data from a sample of 99 high‐technology firms. The discussion finally traces the implications of our theory and findings for research and managerial understanding on CE.     

Technology versus Design Innovation's Effects on Sales and Tobin's Q: The Moderating Role of Branding Strategy

This research investigates the impacts on firm performance of (1) technology versus design innovation and (2) their potentially synergistic interaction. Synergies could arise from complementarities, in particular the utilization of technology innovation as a platform for design innovations. Both sales and Tobin's q are examined as dependent performance variables, with sales tapping consumer responses and Tobin's q reflecting investor responses. Moderation by branding strategy (i.e., Corporate Branding versus Mixed Branding versus House of Brands) is analyzed because innovation may impact performance differently depending on branding strategy. Advertising effects, the number of new product introductions, their interaction, R&D expenditures, operating margins, and firm size are also modeled as covariates. The results show that all main and interaction effects are significant in at least one of the branding groups, and that moderation of model paths by branding strategy was pervasive. Overall, except for technology innovation → Tobin's q, Corporate Branding coefficients for technology innovation, design innovation, and their interaction were almost always significantly different from Mixed Branding and House of Brands coefficients, which were not significantly different from each other. Since Mixed Branding and House of Brands proved very similar, these groups were combined under “Non‐Corporate.” First, for technology innovation, the impact on both sales and Tobin's q for Corporate Branding was less than or equal to Noncorporate. Noteworthy was that the technology innovation → Tobin's q relationship was equal across all branding strategies; technology innovation appears to be key for investors. Second, for design innovation, the impact for Corporate Branding was positive while for Noncorporate it was null; the same pattern was observed for sales and Tobin's q. Third, for the interaction, the impact for Corporate Branding was significantly less than the positive impacts for Noncorporate. For Noncorporate, the marginal impact of design innovation on sales or Tobin's q increased with the level of technology innovation. For Corporate Branding however, there was no interaction in the case of sales and a negative interaction for Tobin's q. Thus, the marginal impact of design innovation on Tobin's q decreased with increasing levels of technology innovation. These decreasing marginal effects could reflect limits to corporate brand name extensions, as perceived by investors.     

The Impact of PV on the German Power Market

During the last months, the discussion on feed-in tariffs (FiT) for photovoltaic (PV) installations in Germany has gained new momentum. On the one hand, the issue of over-subsidisation due to the fact that module prices have been decreasing faster than feed-in tariffs was discussed. On the other hand, increasing costs to the consumers of power were put on the agenda after the unprecedented increase in new PV capacity in Germany in 2009. After the general election in September 2009 this discussion lead to different proposals for adjusting the FiT scheme. In summer 2010 a bill was passed amending the current FiT. Both, in the discussion and in the bill, an important aspect has been neglected so far: the impact of the massively increasing PV capacities on the economics of conventional power plants. The present study fills this gap. In the first part, it is qualitatively shown how the power price and the equilibrium quantity on the power exchange change with increasing PV capacities. These findings can be directly translated into shrinking revenues for operators of conventional power plants. In the second part, a quantitative analysis of the German power market is provided. The effects of different PV scenarios on the wholesale power price and the total revenues (i.e., price multiplied by quantity) of all conventional power plants are calculated. For an incumbent operator of a coal-fired power plant, the contribution margin may decrease by more than 25% and for a new, yet to build gas-fired combined cycle power plant it may drop by more than 30%. The study concludes that the PV support scheme can be understood as the accelerator pedal for the structural change in the German power sector. Implementing the changes in the feed-in tariffs as presented in the bill will require more and faster changes in the overall design of the power market to provide sufficient incentives for backup capacities when the sun is not shining. It would also be accompanied by additional acceleration costs. Absolute caps on the added capacity, rather than further cuts in the tariffs, could buy some time for a careful redesign of the market and may reduce resistance from incumbent operators.     

Customer and Supplier Involvement in Design: The Moderating Role of Incremental and Radical Innovation Capability

More and more firms are leveraging design as a resource to gain the upper hand in today's competitive business market. To this end, this study draws on the resource‐based view (RBV) of the firm to examine the relationship between customer and supplier involvement in the design process and new product performance. The research also extends the RBV to a contingency lens by introducing product innovation capability (incremental and radical) as a moderator to draw the boundary conditions of the impact of customer/supplier involvement in design on new product performance. Using data collected from Canadian high‐tech companies, the findings provide strong support for the hypotheses in that customer involvement in design helps new product performance under high incremental innovation capability but harms new product performance under high radical innovation capability. In contrast, supplier involvement in design was beneficial to new product performance under both high incremental and radical innovation capability. The managerial implications for the role of design under different innovation capabilities are discussed.     

The Impact of Training on Labour Mobility: Individual and Firm‐level Evidence from Britain

We investigate the impact of different types of training on the mobility expectations of workers, using three surveys. Most training episodes produce some transferable skills, and most transferable training is paid for by employers. Overall, training has no impact on mobility in three out of every five cases; the remaining cases are split equally between those where training increases and those where it decreases mobility. We find that training is more likely to lead to lower mobility when it is less transferable to other firms, is sponsored by firms, and where its objectives include increasing the identification of employees with corporate objectives.     

When Technologies Compete: The Role of Externalities in Nonlinear Market Response

When competing technologies are introduced at about the same time, they may either share the market for an extended period or one may eventually dominate the other. Using actual data from the VCR market, William Redmond explores product and market conditions that favor the emergence of a dominant technology. Recent developments in the theory of nonlinear economic processes yield straightforward models of the dominant or all-or-nothing response pattern. In this study, the role of externalities, or infrastructure, emerges as a critical determinant in producing the nonlinear market response pattern. One intriguing aspect of nonlinear market processes is a propensity for small, outside influences to exercise a powerful and long-term influence on market response, that is, "luck" may play a role in these models.     

Managing External Information in Manufacturing Firms: The Impact on Innovation Performance*

Drawing upon a sample of 206 medium‐sized manufacturing firms, this article investigates the extent to which management of external information is associated with innovation performance. The overall purpose of the article is to examine whether or not those organizations that are better at managing external information are also those that are the better innovators. The research strategy used was a survey, and data were collected by means of mail questionnaires (with a 62.4% response rate). A multiple regression analysis was used for hypothesis testing. The results show that scanning the technological sector of the environment was positively associated with innovation performance, while scanning customers, suppliers, and competitors proved to be negatively correlated with innovation performance. Cross‐functional integration in the form of collaboration also proved significantly correlated with innovation performance, while interaction showed no such relationship. Further, decision‐making based on information from the industry environment correlated significantly with innovation performance. Research and managerial implications of these findings are presented and are discussed.     

Publication of Information and Market Response: The Case of Airline on Time Performance Reports

This paper investigates market response to publication of on time performance information. Theory suggests that reduction in search costs generates more honest airlines and better quality service, a distribution of price-quality bundles, increased demand, exit by inefficient airlines and reduction of price rigidity. An ARIMA study of U.S. domestic airline operations finds that after publication of performance information the market generated better performance, increased quality distribution, enhanced demand, exit by four of fourteen airlines and reduced price-quality rigidity. Publication of information may improve performance in markets characterized by asymmetric information and high search costs.     

动态环境对公司创业战略与绩效关系的调节效应研究

本文研究创新、冒险、先动、竞争侵略等公司创业战略倾向与绩效的关系在动态环境中的表现。研究结果显示动态环境对公司创业战略—绩效关系存在调节效应。本文在部分实证研究结果上,取得了不同于国外学者的研究结论（动态环境对于先动性与绩效的关系具有负向调节效应）,这种差异性正好反映了中国转型经济环境对于公司创业战略决策和结果的影响,这对于理解、解释中国企业的创业战略决策及其绩效具有启发意义。     

NPD Planning Activities and Innovation Performance: The Mediating Role of Process Management and the Moderating Effect of Product Innovativeness

The aim of this study is to investigate the effects of planning and control on the performance of new product development (NPD) projects. It is hypothesized that (1) thorough business planning at the beginning of a project creates a basis for proficient project and risk planning; (2) the proficiency of project planning, risk planning, and process management activities each improves innovation performance directly; (3) the relationship of planning and success is mediated by process management; and (4) the strength of these relationships is moderated by uncertainty, as determined by the degree of innovativeness. To test the hypotheses, data from 132 NPD projects were collected and analyzed. A measurement model was used to establish valid and reliable constructs, a path model to test the main effects, and a multiple-moderated regression analysis for the moderator hypotheses. The results suggest that the proficiency of project planning and process management is important predictors of NPD performance. Specifically, project risk planning and goal stability throughout the development process are found to enhance performance significantly. Business planning proves to be an important antecedent of the more development-related planning activities such as project planning and risk planning. Additionally, the results lend support to the hypotheses regarding the mediating role of process management in the planning–performance relationship. Project planning and risk planning support the quality of process management and thus impact NPD performance indirectly. Only to a limited extent are the strengths of these relationships moderated by the degree of innovativeness of the NPD project.     

Sharing Risks of Labour Market Transitions: Towards a System of Employment Insurance

The increasing polarization of the labour market is closely related to the spread of non‐standard employment relationships that largely results from poor risk management of critical transitions over the life course. The question, therefore, arises whether labour market regulation, in particular unemployment insurance, is still properly designed for the new world of work. This article argues for an extension of unemployment insurance towards a system of employment insurance by summarizing the concept of transitional labour markets, indicating the risks that challenge current and future labour markets, laying the theoretical groundwork, and discussing the main features of an employment insurance system.     

The Impact of Product Portfolio Strategy on Financial Performance: The Roles of Product Development and Market Entry Decisions

Innovation is one of the most important issues facing business today. The major difficulty in managing innovation is that managers must do so against a constantly shifting backdrop as technologies, competitors, and markets constantly evolve. Managers determine the product portfolio through key decisions about product development and market entry. Key strategic questions are what portfolio strategies provide the greatest reward. The purpose of this study is to understand the relative financial values of each component of a product portfolio. Specifically, the paper examines the short‐term and long‐term financial impacts of product development strategy and market entry strategy. These strategies reflect two critical tensions that must be balanced in product portfolio decision making and essentially determine a firm's product portfolio. In doing so, the paper also investigates how a firm's capabilities drive each component of a product portfolio. From the empirical analyses in the context of the biomedical device industry, the paper found important insights regarding product portfolio strategies. First, a large product portfolio helps a firm's financial performance. In particular, the pioneering new products have strongest impacts on short‐term performances, and nonpioneering mature products do not provide significant contribution. Second, the results indicate a persistent first‐mover advantage. The first‐to‐market new products yield not only an immediate effect, but also persistent long‐term effects, suggesting that it is important to be first in the market even though there may be short‐term losses. Third, the results suggest the need to balance between “mature” and “new” products. Also, firms need to balance “first‐to‐market” and “late‐entered” products. Because a new or pioneering product requires more resource, it may hurt other products in the portfolio. Thus, without support from mature or follower products, new products and pioneering products alone may not increase firm sales or profit. Fourth, from a long‐term perspective, the paper found that the financial market only rewards a firm's overall capability to deliver new products first in the marketplace. Thus, short‐term performance is mainly driven by product‐level innovativeness, whereas firm‐level innovativeness enhances forward‐looking long‐term performance. Fifth, the paper also found that pioneering new products are driven by integrating both primary and complementary technological capabilities. And nonpioneering new products are mainly driven by the capabilities in primary technology domain. These results provide important insight into the relative value and timing of return on investment in radical versus incremental innovation and alternative market entry strategies. By understanding the performance trade‐offs of these different factors in the short and long term, one can develop better guidelines for optimizing innovation strategies, and their dependence on both external and internal environmental conditions.     

The Impact of Market Imperfections on Real Estate Returns and Optimal Investor Portfolios

This study investigates the consequences of several imperfections associated with real estate markets on pricing and optimal investor portfolios from a CAPM context. CAPM assumptions are relaxed to recognize illiquidity, the consumption and investment attributes of owner-occupied housing, and a mildly segmented market structure. The study finds that relaxing the CAPM assumptions lead to a separate pricing paradigm for financial assets, income-producing real estate and owner-occupied housing respectively, that a "dividend effect" arises for real estate as the result of illiquidity, and that illiquidity reduces the extent to which investors hold real estate in their portfolios.     

浅谈公司内部市场信息化管理

文章分析了内部市场信息化的背景,介绍了内部市场信息化的内涵和构成要素及其特点,构建了内部市场信息管理机制,阐述了实施内部市场信息化管理给企业带来的变化。