The motivation and need satisfaction of the thai managerial elite

Conclusions Broadly speaking, the need importance of Thai managers was similar to that of managers from the developing countries category sampled in the Haireet al. study. That their need satisfaction was rather dissimilar (more closely resembling those of the Nordic-European, Anglo-American and Japanese clusters in the Haireet al. study) is a reflection of the fact that the Thai sample comprised more senior managers than did the Haireet al. study. These results serve to caution researchers against generalizing their findings across managerial levels. Beyond that, the study has provided some interesting data on the need structure of the Thai managerial elite.The authors are in the Faculty of Management Sciences of the Prince of Songkla University, Thailand.     

Trust and knowledge sharing in context: A study of international buyer-supplier relationships in Thailand

How does trust facilitate knowledge sharing between business partners in an emerging market? We advance the relational view of knowledge sharing by theoretically developing and empirically testing moderators of the impact of trust on knowledge sharing between MNE subsidiaries and their local suppliers. Distinguishing inter-organizational and inter-personal trust, we argue that the positive relationship between inter-organizational trust and knowledge sharing is moderated by characteristics of the transaction, while the positive impact of inter-personal trust is moderated by the organizational context in which the relationship is embedded. We test our hypotheses on a sample of 156 buyer-supplier relationships between MNE subsidiaries and local suppliers in Thai manufacturing, and find empirical support for our theoretical arguments. We conclude with managerial implications on how to facilitate knowledge sharing in an emerging market.     

高管人员报酬激励与公司治理绩效研究——一项基于深、沪A股上市公司的实证分析

本文选取深、沪A股上市公司1107家,分别从报酬形式、总经理来源形式、公司规模、行业竞争环境、地区分布、股权结构、代理成本等方面来对高管人员报酬(高管薪酬和高管持股)激励与公司治理绩效之间的相关关系进行分析,主要结论是:在目前的报酬激励体系下,非年薪制激励形式优于年薪制和股权性报酬激励形式;总经理为董事长或董事的公司治理绩效和激励机制优于其他类型;公司规模、行业竞争环境和地区分布影响公司治理绩效水平;股权结构的外生性扭曲了股票市场的有效性理论;高管薪酬、公司治理绩效与代理成本显著负相关。最后,根据实证分析的结果,提出了相关的政策建议。     

The dynamics of emerging economy MNEs: How the internationalization process model can guide future research

The rapid emergence of multinational enterprises (MNEs) from emerging economies calls for a re-assessment of established theories of the MNE. We assess the usefulness of the internationalization process model (IPM), also known as the Uppsala model, to explain the recent strategies of emerging economy MNEs. We argue that popular stages models derived from the IPM are not helpful, but the underlying process of experiential learning driving steps of increased commitment is an important element in explaining the evolution of these MNEs over time. Focusing on the role of acquisitions within internationalization processes, we illustrate our arguments with six case studies of Thai MNEs. On this basis, we discuss how the IPM can inform future research on emerging economy MNEs. Specifically, the IPM suggests focusing on the internal and external factors that may induce firms to accelerate their cycle of international learning and commitment, in particular the roles of networks, acquisitions, human resources, big step commitments, the home country institutional environment, and possible managerial biases.     

Working effectively in strategic alliances through managerial fit between partners: some evidence from Sino–British joint ventures and the implications for R&D professionals

To succeed in R&D strategic alliances requires not only strategic fit and cultural fit at the organisational level, but also managerial fit at the micro, inter–personal interaction level. This paper provides the results from a cross–cultural study of managerial fit between British and Chinese managers in joint ventures (JVs) initiated in 1993–1998 with a focus on two important issues: the perceived competence and managerial roles of the partners. Managerial fit between partners is critical for the success of R&D strategic alliances including JVs. Misfit in partners' managerial behaviour often results from the fact that JVs are characterised by the lack of specificity of various managerial tasks shared by the partners at the operational stage. In addition, a manager's managerial competence as perceived by the counterpart is a contributory factor to trust and supportive reaction from the counterpart, both of which are important for cohesive interaction between partners. This study has revealed that (1) there are similarities and significant differences in some of the characteristics of managerial competence perceived by the counterpart between the British and Chinese managers; and (2) there is often a mismatch of perceptions between the British and Chinese managers with regard to who plays a particular managerial role in a JV. Managerial implications are discussed and issues for further research are highlighted.     

When does guanxi bolster or damage firm profitability? The contingent effects of firm- and market-level characteristics

This paper advances that a nuanced approach is necessary to understand the effectiveness of managerial ties (guanxi) in improving firms' financial performance. We take a contingency approach to examine how the effects of managerial ties on performance may be moderated by firm-level factors (i.e., firm age and entrepreneurial orientation) and market-based forces (i.e., demand uncertainty and technological turbulence). Using a survey of 289 firms in China, we find that managerial ties are more salient with regard to enhancing performance for more entrepreneurial-oriented and younger firms. Managerial ties fail to provide performance benefits to firms when high demand uncertainty exists or when the level of technological turbulence is high, which suggests a performance limitation of established ties with government officials, buyers, suppliers, and competitors. The theoretical and managerial implications of the findings are further discussed.     

Profiles of managerial activities in small firms

This paper addresses the contingency issues of managerial activities and reports the results of a study that configures such activities in small firms. In a survey of CEOs and top executives, data on planning, organizing, and controlling activities as well as entrepreneurial orientation and environmental turbulence were collected and used in the development of a taxonomy. Findings demonstrate that (1) small firms can be classified based on perceived differences in strategy, structure, and the environments they face, and (2) they display managerial and structural consistency when faced with similar contextual situations. The taxonomy developed in this study suggests that four distinct configurations describe the managerial profiles among small firms. Each profile and its corresponding contingency characteristics are discussed and managerial and research implications elaborated.     

The pursuit of original equipment manufacturer strategy: insights from an Asian country

The automotive sector is the major industry of Thailand's economy. This paper discusses the national strategy of Thailand toward the Detroit of Asia. In particular, the study analyses the pursuit of original equipment manufacturer (OEM) strategy in the Thai automotive industry, based on Porter's Diamond Model. A qualitative approach was adopted, using semi-structured interviews to understand the reasons behind Thailand's adoption of OEM strategy and its decisions in not following other strategic approaches. The findings provide important lessons to other developing economies in terms of adopting the right strategies to improve the national performance and competitiveness. The case of Thailand is clearly evident that the Thai government chooses not to develop its own brand (OBM strategy) but pursue the OEM path to strengthen its automotive industry.     

管理腐败新特征与国有企业改革新阶段

本文在分析国有企业管理腐败一般表现的基础上，认为国有企业管理腐败呈现出从以侵吞国有资产为主的国有企业领导人个人腐败逐渐减弱、以行政垄断腐败为主的国有企业群体腐败日益严重的新特征。本文进一步提出，相对以前单纯以改善国有企业效率为改革目标的国有企业改革而言．现在必须强调在打破行政性垄断的前提下改善国有企业效率，我国进入了一个以解决垄断性产业改革问题为核心的国有企业改革新阶段。     

Sense-making and agenda construction in emerging business networks — How to direct radical innovation

This paper focuses on the role of sense-making and development agenda construction in emerging business fields characterized by radical innovation. First, the networked environment of emergent business fields is described. It is shown that both sense-making and agenda construction are key cognitive processes in managing in this environment. Then, a framework describing the dimensions of managerial sense-making and its antecedent factors is suggested and discussed. Finally, the phenomenon of agenda construction and communication and its role in influencing the direction of business field development is examined. Discussion of the theoretical and managerial implications concludes the paper. The paper provides significant new understanding on the roles of sense-making and agenda construction in the emergence of new business fields. It contributes both to network theory of emerging fields and management in radical innovation contexts.     

Contesting Local Pay: The Decentralization of Collective Bargaining in the NHS

Local pay determination formed a key plank in the Conservative government's attempt to restructure industrial relations in the NHS, and to 'reassert managerial control' of the paybill at local (trust) level. This paper reports the findings of a national survey of Unison lead negotiators, complemented by case study interviews and documentary research, on the processes and outcomes of local pay determination, and its impact on industrial relations at both national and local levels. The paper strongly refutes recent suggestions that local pay leads to 'improved' industrial relations and greater pay equity. Moreover, and contrary to claims that Staff Side organizations are 'too weak' to challenge 'new managerial strategies', the study's findings show that the search for managerial control remains, as always, a contested terrain.     

Changing network pictures: Evidence from mergers and acquisitions

A merger or acquisition may cause dramatic changes in a business network, which in turn affect managerial cognition as well as managerial activities. We use the concepts of ‘network pictures’ and ‘networking’ to illustrate and analyse changes in managerial sense-making and networking activities following a merger or acquisition. The paper focuses on acquiring, acquired or merging parties and those companies with which they have direct customer relationships. Based on three case studies comprising seven acquisitions and one merger, we show that following a merger or acquisition managers may need to adapt their previous network pictures in a radical way; these adaptations are, however, not always realized as shifts in network pictures and adjustments in networking activities by all the managers involved. Whereas the merging parties' network pictures and networking activities are largely driven by their perception of customers' needs and developments, it is not certain that the merger or acquisition is enacted accordingly. The paper contributes to a clearer view on the conceptual interdependence of the constructs of network pictures and networking in multi-actor situations and thus it develops a network perspective on mergers and acquisitions.     

Differences in managerial discretion across countries: how nation‐level institutions affect the degree to which ceos matter

The concept of managerial discretion provides a theoretical fulcrum for resolving the debate about whether chief executive officers (CEOs) have much influence over company outcomes. In this paper, we operationalize and further develop the construct of managerial discretion at the national level. In an empirical examination of 15 countries, we find that certain informal and formal national institutions—individualism, tolerance of uncertainty, cultural looseness, dispersed firm ownership, a common‐law legal origin, and employer flexibility—are associated with the degree of managerial discretion available to CEOs of public firms in a country. In turn, we show that country‐level managerial discretion is associated with how much impact CEOs have on the performance of their firms. We also find that discretion mediates the relationship between national institutions and CEO effects on firm performance. Finally, we discuss two inductively derived institutional themes: autonomy orientation and risk orientation. Copyright © 2011 John Wiley & Sons, Ltd.     

管理者过度自信与公司财务决策研究述评

随着行为公司财务学的不断成熟和发展,非理性行为假设逐渐取代了传统的理性经济人假设,这使得基于管理者过度自信的公司财务决策研究逐渐成为了现代财务研究领域的重要议题。文章从管理者过度自信的视角综述了有关公司投资、并购、融资和利润分配决策方面的研究,并就其对传统公司财务理论的挑战展开了讨论。同时对当前研究不足和未来可能的研究方向进行了探讨。     

Structural vs. relational embeddedness: social capital and managerial performance

This paper examines the impact of managers' social capital on managerial performance. Two dimensions of social capital are compared—the structural embeddedness (i.e., configuration) of a manager's network of work relations and the relational embeddedness (i.e., quality) of those relations. Based on a sample of 120 product and sales managers in a Fortune 100 pharmaceutical firm, this paper presents evidence indicating that both elements of social capital influence managerial performance, although in distinct ways: structural embeddedness plays a stronger role in explaining more routine, execution‐oriented tasks (managerial sales performance), whereas relational embeddedness plays a stronger role in explaining new, innovation‐oriented tasks (managerial performance in product and process innovation). This research considers resource exchanges within firms as key to value creating behaviors and contributes a deeper understanding of how social capital influences productive resource exchanges. Copyright © 2005 John Wiley & Sons, Ltd.     

Dynamic managerial capabilities: Configuration and orchestration of top executives' capabilities and the firm's dominant logic

This paper contributes to the understanding of the executive team dynamic managerial capabilities by developing theory about the interplay between the firm's dominant logic and dynamic managerial capabilities (including managerial human capital, social capital, and cognition). We underscore the criticality of the two key CEO‐level functions: configuration and orchestration of senior executive team dynamic capabilities. We develop theory on how these functions create and sculpt the management team's absorptive capacity, which in turn shapes the team's adaptive capacity. We present theory about the distributed nature of efforts for organizational renewal where CEO's dynamic managerial capabilities in concerto with senior executive managerial capabilities will drive top management's ability to revitalize the firm's dominant logic and to achieve evolutionary fit. Copyright © 2012 John Wiley & Sons, Ltd.     

The impact of connectivity technologies on e-flexible working practices of small and medium-sized enterprises in the North East of England

This paper examines the use of connectivity technologies among 80 small and medium-sized enterprises operating in the North East of England. The paper demonstrates that translation of connectivity technologies into e-flexible working practices is highly dependent on the firm's organisational structure and managerial capacity.     

Flexibility planning for managing R&D projects under risk

Incorporating managerial flexibility in an innovative R&D project is important, because managers face greater uncertainty in today's competitive and dynamic changing environment. It is essential to bring managerial flexibility into R&D project planning to decrease technical and market risks, while increasing potential market value. The objective of this paper is to develop a flexibility planning methodology based on real option analysis to improve managerial flexibility for R&D projects. The proposed methodology identifies potential risks that may occur during every R&D stage. It also recognizes a cascading option structure to resolve the identified risks, and evaluates and selects adequate options that maximize the potential value of the project. Instead of using a traditional option pricing method, a dynamic programming model that considers multidimensional product performance and market payoff is used to evaluate the R&D project value. Using the proposed methodology, managers can identify future scenarios as a function of their management actions. The proposed flexibility planning methodology can help managers improve managerial flexibility of R&D project and increase the success rate of product launch. A drug development project is used to illustrate the proposed methodology.