Endogenous coalition formation in contests

This paper analyzes coalition formation in a model of contests with linear costs. Agents first form groups and then compete by investing resources. Coalitions fight for a prize that is assumed to be subject to rivalry, so its value is non-increasing in the size of the group that obtains it. This formulation encompasses as particular cases some models proposed in the rent-seeking literature. We show that the formation of groups generates positive spillovers and analyze two classes of games of coalition formation. A contest among individual agents is the only stable outcome when individual defections leave the rest of the group intact. More concentrated coalition structures, including the grand coalition, are stable when groups collapse after a defection, provided that rivalry is not too strong. Results in a sequential game of coalition formation suggest that there exists a non-monotonic relationship between the level of underlying rivalry and the level of social conflict.

“If men were supplied with every thing in the same abundance, justice and injustice would be equally unknown among mankind.” David Hume (1740), A Treatise of Human Nature

I thank Luis Corchón, Joan Esteban, Michelle Garfinkel and József Sákovics for their comments and suggestions on the paper.     

Mapping the successful succession process in family firms: evidence from Greece

The succession process in family firms has by far been determined to be the most critical phase in the family business life-cycle (e.g. Morris et al. Journal of Business Venturing 18:513–531, 1997; Wang et al. 2000) and characterized as the period in which most family firm fatalities occur (Handler and Kram Family Business Review 1:361–381, 1988). This paper is an empirical study on Greek family firms and seeks to identify the critical success factors that have a major impact on the outcome of a generational transition in the leadership of the family firm. Based on an integrated conceptual framework proposed by Pyromalis et al. (2006), we test the impact of five factors, namely the incumbent’s propensity to step aside, the successor’s willingness to take over, the positive family relations and communication, succession planning, and the successor’s appropriateness and preparation on both the satisfaction of the stakeholders with the succession process and the effectiveness of the succession process per se. The results provide a useful insight and confirm the importance of the aforementioned factors in the succession process by mapping a safe passage through the family business succession process, and by contributing not only to the overall family business literature but also generating strong arguments in favor of the family firm as an integral entrepreneurial element for a region’s sustainable economic development.     

家族企业女性承继研究综述

随着女性地位的不断提高,性别与继承成为家族企业代际传承领域新的研究方向。以代际传承过程的三个阶段为纵向主线,对女性代际继承问题进行系统归纳与评述。在传承前准备阶段,对女性继承的机会与障碍研究较多,而对继承因素的性别差异性研究不足;传承中过渡阶段,研究主要集中于女性继承人与家族内外利益相关者的关系;而传承后二次创业阶段,研究多关注于角色冲突及女性继承与企业绩效的研究,对于女性继承人小家庭的涉入较少。继承要素的性别差异性及小家庭涉入应是未来颇具研究价值的课题。     

STRATEGIC CONSEQUENCES OF EXECUTIVE SUCCESSION WITHIN DIVERSIFIED FIRMS

Systematic investigation of leaders and their influence on organizations has been a major area of research interest. In examining the upper echelon-organizational outcome linkage, researchers have come to focus on the issue of executive succession. This focus has been due in large part to an emerging theoretical perspective that managerial differences may explain much of the variance in organizational outcomes. The purpose of this study is to ascertain whether or not top management succession affects subsequent corporate strategy. This article extends previous research efforts by longitudinally examining the linkage between executive succession and the extent of corporate strategic change across a sample of Fortune 1000 diversified firms. The findings confirm that the nature of executive succession has substantial consequences for corporate strategy. Firms have a greater likelihood of experiencing significant changes in strategy when they choose successors from outside the organization; firms that select their key executives by promoting from within are more likely to experience significantly less change in their corporate strategy. The results of this longitudinal investigation of the strategic outcomes of succession have significant implications for those in a position to select successors to the executive ranks.     

Desingularization and Dequalification: A Foray Into Ranking Production and Utilization Processes

Abstract

Although some authors highlight the benefits of journal rankings, previous research is often highly critical of them, insinuating that they can lead to desingularization of academic journals (i.e. their impoverishment and standardization) and dequalification of researchers (i.e. a weakening of researchers’ ability to evaluate academic research). However, as very few authors have empirically assessed these presumptions, we aim to address this gap in the literature. Based on Lucien Karpik’s notions of singularities, judgment devices, forms of involvement, and emulation and rivalry, we assess whether the processes surrounding the production and use of journal rankings might lead to desingularization and dequalification. Our findings support previous research by highlighting that processes where passivity and heteronomy (i.e. lack of autonomy) prevail are conducive to desingularization, rivalry and dequalification. Our findings, however, introduce some nuances into the debate by underscoring instances where emulation logic is employed instead of mere rivalry logic, and where substantial judgment devices and active involvement are mobilized in the production and use of rankings, thereby somewhat alleviating the spread of desingularization and dequalification. Ultimately, our study raises questions that point to a need for serious collective reflection within the academic community on the processes by which published research is evaluated.     

领导自发传承的探索性研究

在对领导理论、领导自发传承机制进行回顾的基础上,运用深度访谈方法对领导自发传承的内容、原因、途径和影响因素进行了探索性研究。研究发现,下属管理人员对领导自发传承的主要内容为人员、任务、品德和士气;上级领导、组织文化和任务要求是自发传承的主要原因;下属管理人员通过观察、沟通和请教的方式学习上级领导者的方式;而下属管理人员的自身因素、上级领导者因素以及工作情境将影响领导自发传承。     

CEO Succession Mechanisms,Organizational Context,and Performance: A Socio‐Emotional Wealth Perspective on Family‐Controlled Firms

This article extends the literature on CEO succession and financial performance by addressing corporate owners' mixed motives and desires to protect their interest in being in business. We draw on a Socio‐Emotional Wealth (SEW) perspective to investigate how the choice of one of three succession mechanisms – relay succession, ‘horse races’ among internal CEO candidates, and hiring from outside – may effectively balance trade‐offs between corporate owners' non‐financial SEW motives and the firm's financial performance. We find that implementing one of these succession mechanisms reduces the negative impact that typically characterizes CEO transitions in family firms. We also show that family presence on the board of directors offsets the benefits of having selected these balancing succession mechanisms, in either placing too much emphasis on SEW, or creating negative dynamics that make the chosen succession mechanisms less effective.     

Three Modes of Competition in the Marketplace

Competition is often thought of a fairly obvious thing, a rivalry. In a market context the meaning of competition is usually taken to be a rivalry among the sellers. The article seeks to broaden this view by considering other competitive relationships in the marketplace. Using the simplifying assumption that there are only two types of market actors, sellers and consumers, there are three possible types of relationships or interdependencies among these actors in a market. In competitive terms this includes the familiar competition among sellers but there is also the possibility of competition between sellers and consumers, as well as competition among consumers. The article outlines essential characteristics of the three modes. Implications of multi‐mode competition for market performance and welfare are discussed.     

Impact of Sibship Size,Birth Order and Sex Composition on School Enrolment in Urban Turkey*

This paper investigates, in a unified framework, the effects of sibship size, birth order and sibling sex composition on children's school enrolment in urban Turkey. We utilize an instrumental variable estimation method to address parents’ joint fertility and schooling decisions using twin births as instruments. We find no causal impact of sibship size on school enrolment. However, there is evidence for a parabolic impact of birth order where middle‐born children fare worse. Sex composition of siblings matters only for female children. Our finding that birth order and sibling sex composition matter more for poorer households suggests that scarce financial resources play an important role in bringing about the sibling composition effects.     

Family business succession roadblock model based on fuzzy linguistic preference relations

This study investigates how to reduce future barriers to succession and other problems related to family governance by constructing a succession roadblock map. The study explores succession roadblocks in family businesses and provides a succession planning tool that is based on empirical data from 42 director members of the Taiwan Institute of Directors. An analytical hierarchy of family business succession and succession roadblocks are divided into three categories: family roadblocks, institutional roadblocks, and market roadblocks. Next, this study calculates the weights and rankings of the severity of such roadblocks and the likelihood of their occurrence. Specifically, this study constructs a succession roadblock matrix that categorizes succession roadblocks into four categories: the ownership dilution model, sell or withdraw model, ownership management model, and dispersive ownership model. This study also establishes a roadblock strategy matrix for successor positioning and proposes suggestions for practical strategic planning to overcome the challenges of succession roadblocks.     

CFO对CEO职位的继任形式与继任效果研究——基于国有企业样本的FSQCA构型检验

财务型CEO是近来企业选择CEO的新趋势,但目前鲜有研究这一类型高管在哪种形式下继任才能得到好的继任效果。聚焦2015—2018年A股国有上市公司CFO继任CEO的变更事件,使用FSQCA的模糊集定性比较分析法研究CFO对CEO的继任形式和继任效果。研究发现,有三种CFO的继任形式将产生良好的继任效果,即监督扩张式、合作继承式、替换预防式。有两种继任形式将产生糟糕的继任效果,即替换风险式、替换代理式。研究表明,CFO的财务职业经历要成为绩效优势,依赖于前任CEO留任交接安排与财务特征组合而成的继任形式,它们作为不同的路径为财务型CEO取得良好的继任效果提供了便利。     

Managerial Efficiency,Managerial Succession and Organizational Performance

Data envelopment analysis (DEA) is used to create a measure of managerial efficiency in an attempt to reassess the conflicting theories concerning the impact of organizational performance on manager succession, and the counter-theories concerning the impact of manager succession on organizational performance. The analysis uses data for 147 college basketball teams from 1984 to 1991. The results indicate that winning, not efficiency, is the key criterion used in determining managerial retention. Yet when managers of losing teams are dismissed the teams tend to do even worse. If, however, the efficiency of the new manager is greater than that of the former, the disruptive effect of succession is minimized. Because administrators appear to focus on winning, not efficiency, they will often select new managers who are less efficient than departed managers. These results are unique to this literature and indicate promise for the use of DEA in analyses of the internal efficiencies of organizations. © 1997 John Wiley & Sons, Ltd.     

MANAGEMENT CONTROL SYSTEMS IN FAMILY FIRMS: A REVIEW OF THE LITERATURE AND DIRECTIONS FOR THE FUTURE

Family firms play a significant role in the global economy. Although family firm literature has devoted much time and effort to investigating topics concerning corporate governance, leadership, ownership and succession, accounting issues have received relatively scant attention. In this paper, we assemble and critically review extant literature on the choice of management controls. This is an essential topic for firms as management control systems (MCS) are used to make sure subordinates behave in function of the goals of the firm. Family firms, however, have distinct features, such as differences in governance structures and goals, which can have a significant impact on whether and how MCS are used. We conclude this review paper by providing avenues for future research that can advance our understanding of both the determinants and the outcomes of the choice of MCS.     

How Strategic Groups Act Competitively Within and Across Markets

Our study analyzes rivalry within and across markets of size‐defined strategic groups in the banking industry. We consider that, owing to group‐level effects, like efficiency and funding, the degree of rivalry of size‐defined strategic groups depends on whether the competitor is acting in the same or in a different market and whether the competing firms are within the same strategic group or in different groups. We estimate the effect of group interactions within and across loans and deposits markets on firm performance in the Spanish banking industry. We find evidences of rivalry as described in our hypotheses. Copyright © 2017 John Wiley & Sons, Ltd.     

整合营销理论在无锡物流企业品牌建设中的应用

无锡物流业发展具备较好的基础条件和广阔的市场空间,但没有真正铸造自己的品牌。因此,需要用整合营销理论指导物流企业服务品牌建设,通过客户忠诚度的维护和提高、实行一站式服务、构筑营销战略联盟等方法,塑造无锡物流企业自身的品牌形象,增强无锡物流企业的市场竞争力。     

The R&D Investment–Uncertainty Relationship: Do Strategic Rivalry and Firm Size Matter?

This paper uses a real options perspective to augment a standard research and development (R&D) investment model and implement a firm‐level empirical analysis to assess the practical significance of market uncertainty and its interactions with strategic rivalry and firm size. We use a measure of firm‐relevant market uncertainty along with panel data and find that firms invest less in current R&D as uncertainty about market returns increases. The effect of firm‐specific uncertainty on R&D investment is smaller in markets where strategic rivalry is likely to be more intense. Furthermore, holding access to financing constant, the effect of uncertainty on R&D investment is attenuated for large firms. Copyright © 2012 John Wiley & Sons, Ltd.     

Leadership Lessons of Triangular Desire from René Girard

René Girard examined famous novels depicting something he called displaced desire, in which a follower emulates someone believed to be exemplary. These relationships can become problematic, twisted, and even contagious, as people affect desires only because someone else exhibits them. This often results in inauthentic choices and rivalry, which Girard diagnoses. In the last section of the paper are some implications for the practice and study of leadership.     

基于土地生态演替的区域生态格局构建

城市生态建设应采取主动的生态修复与建设措施,积极打造适应区域生态循环和演替过程的生态格局,从而增强生态系统自身稳定性,提高其相应生态服务功能。根据对以往生态格局规划案例的总结发现,现有规划模式对土地的动态变化考虑不足,对主导土地自然演替规律的区域综合自然地理过程缺少分析,因而构建的生态格局体系可能存在着生态稳定性差、绩效成本高的问题。本文针对这一问题,以河南省汝州市王寨工业集聚区规划为例,通过推断土地的自然演替规律,结合土地利用现状数据,对区域的生态适宜性进行评价,以期在适应区域土地演替规律的基础上,构建区域生态格局。     

Strategic alliances: managing complementarity to capitalize on emerging technologies

There are many different ways for firms to enter emerging industries and many possible patterns of rivalry within such industries. Although the literature gives prominence to the pioneering role of small start-ups, the fact is that large firms have often tried to pioneer new industries, by leveraging on the achievements of their central research facilities. Some firms have sought an organizational complement to progressiveness in the R&D lab. This complement is the internal venture. However, internal ventures pose the difficulty of internal diversity. Strategic alliances, on the other hand, permit the firm to exploit new technologies in new industries with a minimum of internal diversity. They have the benefit of speedy access to technology or to market expertise, minimizing risk and financial exposure, and providing a greater focus when bringing resources to bear on innovation. Strategic alliances provide alternatives for collaboration between firms with minimal contamination of the pioneering and entrepreneurial spirit of new technology-based firms.     

Clusters and rivalry: does localization really matter?

This exploratory study addresses the link between rivalry—which we regard as a cognitive social dimension of competition— and localization. We adopt a visual-mapping technique to collect data on firms belonging to the packaging-machinery geographical cluster in Northern Italy.We can summarize our results as follows. Entrepreneurs identifying rivals within the cluster also tend to cite a larger number of rivals altogether. A firm's proximity to its rivals is a key to a deeper comparison with them. Geographical distance represents a tool for scanning the competitive environment; it is not used as a criterion by which to classify rivalry. From these results, we generate a few propositions that shed a new light on the relationship between rivalry and localization.