The relationship between new venture entry mode and firm performance

Grounded in the knowledge-based view of the firm, this paper compares the performance outcomes from different modes of new venture entry. Data from new hotels entering the United Kingdom between 2006–2010 was used to explore how entry mode (i.e., franchised or independent) impacts post-entry firm performance. Controlling for market demand and market segments, this study found that affiliation with a franchise made it easier for new owners to ramp up revenues in the first six months if the service had a high level of operational complexity (e.g., full-service hotels). After this initial benefit period no significant performance benefit accrued to branded full-service hotels. In contrast, hotels that offered less complex services obtained higher levels of performance when relying on independent status vs. brand affiliation between six and twenty-four months after entry. Implications of the results are offered in the context of determining the value of explicit versus tacit knowledge obtained from external sources versus going it alone as an entrepreneur.     

Measuring to understand intangible performance drivers

The present qualitative study explores what eleven Swedish organizations have systematically worked at to increase the understanding of the importance of intangibles as performance drivers. The present analysis is accomplished using a combination of evolutionary theory, knowledge-based theory and organizational learning. The results indicate that assets in an accounting sense seem to be of less interest than perceptions of activities that enable future performance. These “enablers” are often customer and employee perceptions of individual, organizational and relational competence. The way for the firms to ascertain a continuous organizational learning process with respect to the value creation chain is to measure intangibles as well as to maintain organizational routines that ensure the transformation of measurement results into action.     

Making the link between work-life balance practices and organizational performance

The business case for work-life balance practices, as espoused by many organizations, rests on attracting better applicants and reducing work-life conflict among existing employees in order to enhance organizational performance. This review of the literature provides some evidence for the claim regarding recruitment, but there is insufficient evidence to support the notion that work-life practices enhance performance by means of reduced work-life conflict. We suggest that the business case may therefore need to be modified to reflect the number of additional routes by which work-life balance practices can influence organizational performance, including enhanced social exchange processes, increased cost savings, improved productivity, and reduced turnover. The impact of these processes may, however, be moderated by a number of factors, including national context, job level, and managerial support. The importance of further research into the effects of these practices is discussed.     

透视公民社会的治理机制

回顾今年春季以来在中华大地及至全球范围发生的SARS危机,它对公共卫生管理体系和公共危机管理模式提出了重大挑战,中国迅速控制疫情的成效也羸得了国际上的称誉.     

R&D: the missing link between corporate social performance and financial performance?

Management Review Quarterly - The relationship between corporate social performance (CSP) and financial performance (CFP) has been analyzed for decades. Despite these efforts, the results remain...     

A comparative analysis of performance assessment: international joint venture managers versus regional headquarters managers

This paper examines a relatively unexplored dimension within the IHRM literature: whether JV CEOs and representatives of their foreign parents' regional headquarters differ in their evaluations of JV effectiveness. This study is based upon a sample of 153 JVs located in China. Existing theories suggest an alternate rationale detailing why the evaluations of JV managers and their foreign parent companies should differ and why they should be similar. Our investigation generally finds that evaluations are similar, with some differentiation occurring when our sample is divided by JV age and by JV industry. Overall, the results suggest that isomorphic forces may exist between managers of JVs and managers of their foreign parents in the JV system.     

The link between supply chain fit and financial performance of the firm

The bottom-line financial impact of supply chain management has been of continuing interest. Building on the operations strategy literature, Fisher's (1997) conceptual framework, a survey of 259 U.S. and European manufacturing firms, and secondary financial data, we investigate the relationship between supply chain fit (i.e., strategic consistencies between the products’ supply and demand uncertainty and the underlying supply chain design) and the financial performance of the firm. The findings indicate that the higher the supply chain fit, the higher the Return on Assets (ROA) of the firm, and that firms with a negative misfit show a lower performance than firms with a positive misfit.     

Lost in translation: exploring the link between HRM and performance in healthcare

Using data collected in 2004 from 132 Victorian (Australia) public healthcare providers, comprising metropolitan and regional hospital networks, rural hospitals and community health centres, we investigated the perceptions of HRM from the experiences of chief executive officers, HR directors and other senior managers. We found some evidence that managers in healthcare organisations reported different perceptions of strategic HRM and a limited focus on collection and linking of HR performance data with organisational performance management processes. Using multiple moderator regression and multivariate analysis of variance, significant differences were found in perceptions of strategic HRM and HR priorities between chief executive officers, HR directors and other senior managers in the large organisations. This suggested that the strategic human management paradigm is ‘lost in translation’, particularly in large organisations, and consequently opportunities to understand and develop the link between people management practices and improved organisational outcomes may be missed. There is some support for the relationship between strategic HRM and improved organisational outcomes. Implications of these findings are drawn for managerial practice.     

Paving the road toward eco-effectiveness: Exploring the link between greenhouse gas emissions and firm performance

Climate change has increasingly attracted business attention over the last decade, focusing particularly on the eco-efficiency debate. The goal of this paper is twofold. First, we contribute to the ongoing debate on the effects of environmental strategies on firm performance. We investigate this relationship by considering the relative greenhouse gas emissions (GHG) as a predictor of the eco-efficiency of firms' environmental strategies. GHG emissions are a direct indicator of the environmental performance and effectively measure the firm's efforts in mitigating the impacts related to its processes and products. Second, we investigate the drivers that lead to an increase in the firm's environmental impact under the conditions of increasing market performance by the firm, therefore paving the road to the concept of eco-effectiveness of corporate environmental strategies. To test our hypotheses, we use a sample of worldwide listed companies derived from the S&P 1200 list. A longitudinal analysis is run through generalized least squares regression models over the period 2004–2016. Results offer evidence of the direct relationship between the level of absolute emissions and market performance of the firm. Therefore, the findings have significant implications on the way we conceptualize corporate environmental sustainability and environmental strategies, shedding new light on the relation between environmental pressures and corporate growth.     

How do social scientists use link data from search engines to understand Internet-based political and electoral communication?

As link data become more available from search engines, the data can play an important role in understanding socio-political activities in cyberspace. However, the majority of social scientists have not engaged in link data collection, transformation, and analysis to perform research using publicly available search engines. This article offers two case studies of Internet-based political and electoral communications conducted in Korea, where online communication is among the most well-established in the world. These cases reveal that link data collected from search engines have several merits for political communication research, including inexpensive access to web resources and ease of use. However, link data have some weakness, such as reliability issues: internal algorithms are not made in public and there are inconsistencies among search engines. This article examines the two case studies to draw conclusions about the use of link data drawn from search engines for research purposes.     

Entrepreneur political skill and new venture performance: Extending the social competence perspective

Research on the social competence perspective holds that since operating high performing new ventures is dependent on entrepreneurs’ ability to influence stakeholder actions, entrepreneur social competence is likely critically important to new venture performance. Using a sample of 163 entrepreneurs throughout the USA, we extend such research by examining the entrepreneur political skill new venture performance relationship. Our results suggest that political skill, which is the component of social competence which specifically assesses an individual's ability to influence other's actions within the business environment, is positively associated with new venture performance. Study results provide additional support for the social competence perspective.     

Project management priorities and the link with performance management systems

This paper reports the results of a project management practices study in the U.K. social housing sector. A five‐factor model of project priorities is established, comprising traditional measures of project cost, time, and quality, in combination with a need to focus on stakeholders and to develop a customer and project team orientation. This model supports and integrates previously fragmented notions of project performance measurement. The relationship between these five project management criteria and the effectiveness and use of a performance management system (PMS) is then explored, with some limited evidence found that PMS effectiveness is an antecedent to practices that focus on the customer, the project team members, and other stakeholders     

Strategic resources in action: a case study of the Dynal biotech joint venture

This paper analyzes a case study of Dynal, a fast growing biotech joint venture. The aim of the inquiry was to look at how resources were turned into value creation, and hence, to identify strategic resources. Three questions are addressed, linked to (1) how resources evolved, (2) the identification of strategic resources, and (3) the main activities in Dynal’s value creation. The findings suggest that it may be fruitful to link the resource-based perspectives in strategic management and network theory. It is found that relationships and external resources were critical in the evolution of Dynal.     

Network connectedness in vertical and horizontal manufacturing joint venture formations: A power perspective

In the supply chain management (SCM) domain, research has been advanced to understand the role of network structure in buyer-supplier relations. Yet, while there has been a substantial body of work investigating supply chain networks, little research has paid attention to how the network structure affects the power balance between manufacturers and suppliers. This study investigates, from a power perspective, the role that network connectedness plays in new equity based joint venture formations. As such, we further the understanding of supply chain networks by examining network structure as a mechanism from which firms derive power. We articulate several hypotheses rooted in both network and power theories by specifically examining, from a power perspective, factors such as eigenvector centrality, closeness centrality, and weak components centrality. Further, we differentiate between horizontal and vertical joint venture configurations and elucidate the moderating effect it has in engendering new manufacturing joint venture formations. Empirical results show that structural network based power is a significant explanatory mechanism in new joint venture formation, and specifically, that power is, and should be a primary consideration in supply chain partnership decisions.     

The impact of venture capital financing method on SME performance and internationalization

One of the basic premises of venture capital is leverage, which often means adding money and other resources to speed up growth. As a result, small- to medium-sized venture funded firms are expected to show significant growth at an early stage. Our research examines how equity based-venture funding methods affect SME performance and internationalization. We divide venture capital financing into several categories: incremental financing where firms receive their venture capital funding in portions, lump-sum funding where firms receive their funding in one lump-sum, syndication where two or more external investors participate in a single financing round and non-syndicated financing where one investor participates in a single financing round. The results show that type of equity-based venture capital financing affect performance and internationalization. Annual sales growth rate and annual turnover are used as proxies for performance. Export ratio is used as a proxy for internationalization. Staged financing and financing through a syndicate has a positive effect on performance and internationalization when used separately. We observe a negative effect when syndication and staged financing are used in combination.     

How to serve sustainability performance in businesses? An appetizing recipe to link practices to performance in business sustainability research

Recent critiques claim that business sustainability scholarship offers little evidence on how to effectively address business unsustainability. In this article, we demonstrate why this problem exists. Specifically, we argue that the literatures on internal practices of business sustainability, and on the sustainability performance of businesses, do not speak to each other and that explanatory models also fail to bridge a corresponding gap in the field. We argue for the development of a subfield of sustainability performance in businesses and explain the types of inquiries that should be developed. Finally, we suggest how scholars in the business sustainability field could contribute to the development of better understanding of sustainability performance in businesses.     

Job attitudes and organizational justice in joint venture hotels in China: the role of expatriate managers

In a survey of local employees in joint venture hotels in China, perceived interactional justice was found to be predictive of job attitudes, and perceived salary fairness in comparison with expatriate managers explained additional variance in job attitudes. Compared to previous results, local employees now perceived their pay as much more unfair when compared with that of expatriate managers. In addition to perceived justice, perceived managerial practices of expatriate managers and incentives received were also predictive of job attitudes of local employees. Consistent with previous results, employees working with overseas Chinese and Japanese managers reported less positive job attitudes than those working with Western and other Asian managers. These differences were related to neither perceived differences in managerial practices or managerial experiences of the expatriate managers nor perceived differences in incentives received. The justice framework provides the best explanation for these results.     

The link between the Shapley value and the beta factor

In this article, we provide a link between the Shapley value in cooperative game theory and the capital asset pricing model (CAPM) in finance. In particular, the Shapley value of a suitably defined cooperative game is closely related to the beta factor in the CAPM. The beta factor for any given security may be interpreted as the asset’s fairly allocated share of the market risk or as the asset’s average marginal contribution to the market risk, respectively. Other fairness properties and axioms of the Shapley value may be reinterpreted in this context to attain a deeper understanding of the beta factor and the connotation of systematic risk. Our game theoretic approach further allows for a generalisation of the CAPM with respect to arbitrary risk measures other than variance. Last but not least, we discuss the volatility of an asset’s theoretical fair assessment of risk and of its systematic risk, respectively. This result lends itself to face the challenge of an empirical investigation on real stock markets.     

香港上海协作关系前瞻

1995年到 1998年 ,我在香港高级公务员中国课程班讲课时 ,学员质疑频率最高的问题是香港和上海的关系。几乎每堂课都有人提问 :上海发展了是不是会替代香港的功能 ?是不是意味香港的衰落 ?30年代 ,上海的经济实力确在香港之上。近年上海学界不少论著提出要重振 30年代上海作为东亚经济中心的雄风。这个观点的扩散 ,加深了香港学员的疑惑。对于新世纪港沪两市的关系 ,答案是明确的 :香港和上海各有相对优势 ,未来两地是互补关系 ,双赢关系。可以从四个方面说明这个观点。　　 一、30年代上海作为东亚经济中心的条件已经发生变化　　 30年代上…