Legitimation and institutionalization of managerial practices. The role of organizational rhetoric

This paper analyzes how rhetoric is associated with the legitimation and institutionalization of managerial practices. Since rhetoric both shapes and reflects an actor’s legitimacy assumptions, rhetoric can be used as an indicator of the institutionalization or cognitive legitimacy of managerial practices. Drawing on and expanding previous research on rhetorical theory and verbal accounts, this paper links argumentation structure and form with processes of institutionalization. The empirical analysis draws on a large text corpus of data from two German banks, both of which implemented drastic downsizing measures. The results show that the process of institutionalization is related to both a decline in argument diversity and a shift from defensive to acclaiming arguments.     

Enhancing managerial incentives and value creation: Evidence from corporate spinoffs

We study corporate spinoffs with changes in CEO compensation to examine how spinoffs affect managerial incentive compensation and whether the changes in managerial compensation can explain the value enhancement and operating performance improvements that occur following spinoffs. Analyzing a sample of 124 non-taxable spinoffs during 1990–1997, we find that changes in incentive compensation are a significant motive for spinoffs. Changes in managerial incentives alone are consistent with the post-spinoff changes in operating performance, while changes in business focus are not. Spinoffs that are not accompanied by enhanced pay-performance relationship do not improve operating performance even with increased business focus. (JELG34, J33)     

Multiple banking relationships,managerial ownership concentration and firm value: A simultaneous equations approach

This paper examines how the number of banking relationships affects the interaction between managerial ownership and firm performance, and sheds light on the conditions under which banking relationships play a role in alleviating shareholder–manager conflicts. Our results provide several interesting insights. We document that bank monitoring has substantial value when managers are improperly incentivized, but that it becomes less important when managers are properly incentivized. There is a substitution effect between the value-increasing benefits of managerial ownership and bank monitoring. We also find that any existing free-riding concerns from having too many banking relationships are problematical only when Tobin's Q is high and managerial ownership is high.     

基于价值创造的公司经营价值评估方法

公司经营价值评估方法主要有经济增加值法和自由现金流量折现法。经济增加值法能够从逻辑上说明公司经营价值的源泉,自由现金流量折现法能够较好地说明公司经营价值的本质。而基于价值创造基础的公司经营价值的评估方法综合上述两种方法的优点,不仅有利于理解价值的本质,更有利于理解价值的源泉,因此能够更好地帮助投资者实现价值管理和价值投资的目标。     

企业并购:通过知识互补创造价值

本文对已有的企业并购动因理论做了回顾,并探讨了持久竞争优势的来源,认为企业并购就是通过知识互补创造价值的过程.     

Different rooms,different voices: double-breasting,multi-channel representation and the managerial agenda

Double-breasting has been identified as where companies run union voice and non-union voice mechanisms across different plants. While research has focused on the incidence of such arrangements, there is a dearth of evidence into the dynamics of it. This article seeks to complement existing research by examining the contours of double-breasting in a case study organisation. The findings suggest that more research is necessary into the dynamics of double-breasting in terms of how voice in sites affects each other and the extent to which running different regimes affects the managerial agenda.     

How knowledge heterogeneity influences business model design: mediating effects of strategic learning and bricolage

International Entrepreneurship and Management Journal - Embedded and dispersed heterogeneous knowledge are the wealth of firms to design a unique business model, simultaneously avoid the high cost...     

The performance of international returnee ventures: the role of networking capability and the usefulness of international business knowledge

This paper sheds light on the international new ventures led by returnee entrepreneurs and investigates the influence of networking capability and the usefulness of international knowledge for the overall performance of so-called international returnee ventures (IRVs). By integrating network theory with a capability view of firm performance, it advances six hypotheses that form a structural model, which is tested with LISREL on a sample of 194 IRVs from China. The findings show that international networking capability has a positive influence on the provision of international business knowledge, which in turn is positively related to the innovation performance, but they have a negative impact on the financial performance. Hence, this study presents a discussion of the usefulness of knowledge gained from the international network relationships of emerging market returnee entrepreneurs.     

懦·商合流

正因为16世纪的“白银资本”已将世界连成一气，使我们比较中西商业精神成为可能。马克斯·韦伯（Max Weber．1864～1920）有憾于卡尔·马克思（Karl Marx，1818～1883）《资本论》虽然透析明畅．然亦有“见物不见人”之阙失．故以《新教伦理与资本主义精神》、《新教教派与资本主义精神》等系列论文．从国民经济学、史学、宗教学、     

Programme knowledge and value of work-family practices and organizational commitment

This study examined the relationship between the programme knowledge and value of work-family practices and organizational commitment. Employee programme knowledge of work-family policies was significantly related to affective commitment. This finding suggests that organizations should pay attention to how much their employees know about work-family benefits and how practices can be accessed. While the value of paid parental leave was positively related to normative commitment, the perceived value of childcare policy was negatively associated with both affective and normative commitment. These findings suggest that organizations must be aware that how employees perceive work-family practices can influence their commitment towards the organization. Specifically, practices that are viewed as having minimal value might actually lead to a reduction in commitment.     

On the negative social value of central banks' knowledge transparency

We examine to what extent central banks should release their internal assessments concerning the links between money growth and future inflation, and between employment and inflation. We show that the social value of knowledge transparency concerning real shocks is negative since the disclosure of the central bank's private information eliminates the possibility of insuring the public against those shocks. Finally, we discuss a number of further arguments which have to be taken into account before policy conclusions can be drawn. First version: August 1998 / Final version: July 2002 RID="*" ID="*" I would like to thank Charles Goodhart, Gerhard Illing, Eva Terberger-Stoy, Volker Hahn, Carl E. Walsh, seminar participants in Frankfurt and Heidelberg and at the annual meeting of the German Economic Association 2000 for helpful comments.     

浅谈安全生产管理中的制度化与人性化

文章分析了安全生产管理中制度化与人性化的关系,认为只有将两者有机地结合、灵活使用,才能真正实现安全生产,为企业创造更多的经济效益和利润空间。     

Modularity in building mass customization capability: The mediating effects of customization knowledge utilization and business process improvement

This study investigates the relationships among product/process modularity, organizational learning practices, and mass customization (MC) capability. Drawing on organizational learning theory, we propose that organizational learning practices help to embed the knowledge gained from modular design practices into organizational processes, enhancing MC capability. We empirically test the mediating effects of two organizational learning practices—customization knowledge utilization and business process improvement—on the relationship between product/process modularity and MC capability, using data collected from Chinese manufacturers. We find strong support for the mediating role of organizational learning practices in the relationship between modularity and MC capability. Our findings have implications for management strategies and point to directions for further research in this area.     

融合生态学观点的业态与业态创新：兼论与商业模式的比较

引入生态学观点,重新界定业态的概念,提出包含营业形态、经营形态、企业形态、企业生态、产业形态和产业生态的“六位双层一体”架构;从概念范畴、表现形式、可复制性、创新来源、社会责任侧重以及关注焦点等方面探讨了业态与商业模式的区别;在此基础上,凝练了业态创新的路径,即从企业内要素的整合到企业间要素的协同,结合价值创造流程创建企业开放式创新生态网络,以开放式协同创新和企业自主创新撬动产业形态变革和产业结构升级,以及明确生态位,在产业共生中形成产业生态系统。     

Women in business: entrepreneurship, ethics and efficiency

This article begins by reviewing some of the main theoretical approaches to entrepreneurship. We then discuss the measures proposed in the literature to benefit women, facilitating reconciliation of work and family life and examining the view of authors who consider the negative effects of these measures. Finally, we contemplate situations where the measures benefiting women are based on economic or ethical reasons. This last section qualifies the universalist approach underlying work-family life reconciliation, describing the context for interaction between women and entrepreneurial activity.     

Management in social enterprises: the influence of the use of strategic tools in business performance

If social enterprises are to be competitive in the marketplace, they must use Strategic Management tools to improve efficiency, while maintaining their effectiveness levels. They can achieve this goal by introducing new management methods that make use of innovation. The aim of the current study was to analyze the effect of the use of management tools in social enterprises, referred to here as Social Management, on the effectiveness and efficiency levels of these enterprises. From a sample of 129 work integration social enterprises (WISEs), this study shows the existence of a statistically significant relationship between the application of Strategic Management tools, more commonly found in for-profit organizations, and the effectiveness and efficiency of WISEs in the social economy. The influence of the use of these tools was found to be positive in the case of social effectiveness (improving the employment rate) but negative in the case of economic effectiveness (profitability).     

Stock market volatility,the news,and monetary policy

The dynamic relationship linking the volatility of equity prices with “the news” and the expected path for monetary policy is investigated. Previous results that link the impact of the news about real activity to changes in current and future interest rates are employed in developing a positive link between changes in volatility and the news. Empirically, our results uncover a positive and statistically significant response of the CBOE volatility index, VIX, to unanticipated changes in employment, but not to inflation. Hence, agents' expectations for the policy response to news have an important influence on the expected volatility of stock prices. (JEL E44, E52)     

Linking service level, inventory management and warehousing practices: A case-based managerial analysis

This paper aims to understand how best performing companies strive to improve their service levels, under the assumption that not only inventory management, but also warehouse management plays a key role in achieving this goal. To explore this issue, a case-based analysis was conducted on six companies from the food distribution and pharmaceutical industries. The empirical analysis shows that this assumption holds when the companies deal with a very high number of SKUs; they need to properly manage warehousing processes to guarantee fast, complete and correct deliveries to customers. This results in the adoption of best practices and in relevant investments in technology and equipment peculiar to warehousing. This empirical analysis also shows that, to further improve the accuracy and the speed of the picking and shipping processes, the companies tend to automate their activities, but only when the level of order fragmentation is low and the degree of morphological homogeneity is high.