共查询到20条相似文献,搜索用时 15 毫秒
1.
《Journal of Business Venturing》1994,9(3):243-260
This study examines if firm performance and the associated patterns of management vary with the owner-manager's mode of entry into the firm in owner-started (OS), buyout (BO), and family firms (FF). Prior research suggests that these three types of firms differ on certain managerial characteristics but has not examined the role of the owner-manager's mode of entry in determining firm performance on the one hand and its influence on the firm's management pattern on the other.We collected data from 345 firms, employing four to 99 employees, operating in four northeastern states. Self-reported return on assets (ROA), annual sales, business strengths, competitive strategies, and management practices were compared for OS, BO, and FF firms. Performance was found to vary with owner's mode of entry. The 227 OS firms' average ROA was significantly higher than that of the 61 family firms and the 57 BO firms. Successful start-up owners may have enjoyed greater profits because they assumed greater risk compared to those who opted to buy an existing venture or took over a family firm. Annual sales were highest for FFs, second for OS firms, and the lowest for BOs. In terms of management patterns, owner-started firms rated themselves significantly higher on business strengths and tended to have higher self-ratings for competitive strategies and operations strengths than did FFs or BOs. All of these differences were significant after controlling for the age and size differences among the firms, indicating that mode of entry did directly impact performance as well as the management patterns.Examining the impact of mode of entry versus management patterns on venture performance, we found that while the OS mode of entry was associated with greater ROA, this was primarily due to the different management patterns adopted by the OSs. Looking at annual sales, the FF mode of entry was associated with higher sales, and this was independent of the types of management patterns adopted by the firms. A priori, BOs would appear to be in a better position to achieve superior performance, but this was not so in this sample.Further analysis revealed different paths to profitability for the three entry modes. For OS firms, high ROA was associated with operating in the service and retail sectors, developing a broad range of business strengths, and offering competitively priced but higher quality customized products. For OSs, ROA was also enhanced by using informal and personalized management practices. Sales performance was greatest when OSs employed trained staff for functions such as budgeting and sales. For FFs, ROA was enhanced by broad-ranging strengths, but it was hurt by price and quality competitiveness—mainly because on average, their lower prices were not supported by a competitive cost of goods. Sales performance was greatest when FFs had owner-managers with extensive industry experience, were conservative in adding workers, emphasized product customization, relied on written reports, but avoided long-range operations planning. Management patterns of BOs were not related to their ROA, but their annual sales were marginally higher when the acquiring owners had extensive industry background and employed a large workforce.Thus, this study confirms our hypotheses that performance and management patterns vary across mode of entry as does the effectiveness of strategic management patterns. Further, our findings concurred with previous studies which suggested that sales performance and profitability were likely to be influenced by different management actions. This study demonstrates that owner's mode of entry is an important explanatory variable for variations in performance as well as management patterns. Venture CEOs need to recognize that different management approaches may be needed for success depending upon whether they founded, purchased, or inherited their firms. 相似文献
2.
《International Business Review》2006,15(3):215-232
To date there is limited empirical evidence as to how the nature of uncertainty determines the mode of entry into international markets. The aim of this work is to further analyse this relationship by presenting a multidimensional concept of uncertainty within the context of the service sector. Given the complexity and heterogeneity of this sector, we propose that uncertainty influences the choice of entry mode, but that the choice patterns may be different according to the type of service.From a sample of 328 decisions of entry into international markets, this study identifies differences in entry mode choice patterns between capital intensive service firms and knowledge intensive service firms. 相似文献
3.
4.
This study examines the effect of decision rationality and hierarchical centralization on international entry mode decision-making effectiveness (DME). The role of environmental uncertainty is additionally explored as a moderating variable in this investigation. Drawing from the strategic decision-making process perspective, this research is seemingly the first to include behavioral processes in explaining how effective the decision associated with adopting an international entry mode is. Based on a study of 233 internationalized Chinese private firms, the evidence suggests that decision rationality positively influences DME, while hierarchical centralization negatively affects DME. The moderating effects of environmental uncertainty are negative for both decision rationality and hierarchical centralization. 相似文献
5.
This paper considers a supply chain where a manufacturer sells its product through a retailer. In such a market, a potential entrant can make a substitute product by imitating the incumbent's product and then sells it to the common market with one of three alternative entry modes: (i) selling through the incumbent's retailer, (ii) selling through another independent retailer, or (iii) selling directly to consumers. Faced with the entrant's entry, the manufacturer has managed to offer a value-added service to add to its product's value at a cost. We investigate the entrant's optimal entry mode when the manufacturer offers profit-sharing contracts to the retailer and when it does not, and discuss the impact of the potential invader's entry on the incumbent firms' performances. The results show that: (1) the entrant sells directly to consumers when faced with weak value competition, and sells through another retailer against fierce value competition. (2) If the value competition is relatively fierce and the efficiency of the value-added service is relatively high as well, the incumbent firms can benefit from the new entry. (3) A profit-sharing contract, as a coordination policy, can fully coordinate the incumbent supply chain no matter whether there exists a potential entrant or not, yet the entry can affect the distribution of the profits between the incumbent manufacturer and retailer. 相似文献
6.
《International Business Review》2007,16(3):362-376
One of the key decisions in the internationalisation process of hotel firms is the choice of the entry mode into a foreign country. Many different factors influence this strategic decision. From a sample of 127 entries carried out by Spanish hotel firms between 2001 and 2003, this study provides new empirical evidence that cultural distance reduces the likelihood of choosing equity entry modes, while firm profitability and internal financial funds availability favour the assumption of greater commitment in the international expansion process. 相似文献
7.
This study adapts a radical behaviourist ‐perspective in the study of the sales manager‐salesperson interaction, and analyses the impact of a behaviour modification programme on both the effort and performance behaviours of salespeople. To this end, a field experiment was conducted with the co‐operation of an industrial sales organization. Subjects were randomly assigned to control and experimental groups and a number of effort and performance indicators were measured via self‐report procedures. The treatment consisted of manipulations to the sales manager‐salesperson interaction in order to improve monitoring systems, introduce more structured feedback mechanisms, and make reinforcement more contingent upon actual behaviours. Results indicate that a number of effort indicator variables and performance outcomes showed significant increases for the experimental group relative to the control group. 相似文献
8.
ABSTRACT It has been observed in the academic and practitioner literature, a disconnect between the activities of salespeople and the sales strategy espoused by sales organizations. This study examines organizational and individual factors that can influence salespersons’ willingness and ability to implement sales strategy. This paper also seeks to examine the performance implications of sales strategy implementation by salespeople. Data were collected from a sample of 190 business-to-business salespeople in different industries. The study’s hypotheses were tested using partial least squares (PLS). The results of the study show that the different types of sales force control (behavior control and outcome control) has contrasting effects on salesperson market and technical knowledge and salesperson implementation of sales strategy. The results also demonstrate that when salespeople implement sales strategy as part of their sales process, it has a positive effect on their sales performance. 相似文献
9.
Entrepreneurship capital and its impact on knowledge diffusion and economic performance 总被引:1,自引:0,他引:1
In this paper, we develop two hypotheses: First, regional innovation efforts have a positive impact on regional knowledge based entrepreneurial activity. Second, knowledge based entrepreneurship positively affects regional economic performance. We test these hypotheses using county level data from West Germany, employing a structural equation model to analyze the relationships between latent variables. Our empirical analysis provides evidence supporting both hypotheses. In particular, our results suggest that innovation efforts have an indirect effect on economic performance via entrepreneurship. This indirect effect is neglected in existing empirical studies focusing on the direct effect of innovation on economic performance. 相似文献
10.
Larger portions of tempting food spur consumption, yet the question remains whether altering food granularity (i.e., dividing a fixed portion into more, smaller versus fewer, larger partitions) also drives consumption. As current insights on the impact of food granularity on consumption are contradictory, this paper offers clarification by zooming in on the different ways in which food granularity has been operationalized in extant research. One can achieve a finer (vs. coarser) food granularity either by partitioning food into more, smaller morsels (vs. fewer larger morsels), or by grouping similarly sized food morsels together into more, smaller packages (vs. fewer, larger packages). Hence, this article introduces the operationalization mode of food granularity (i.e., partitioning vs. grouping) as a variable moderating the effect of food granularity (i.e., fine vs. coarse) on consumption. Consumers are expected to eat less when tempting foods are partitioned in more, smaller portions (as opposed to fewer, larger portions). However, consumers eat more when such tempting foods are grouped into more, smaller packages (as opposed to fewer, larger packages). Both a meta-analytic review (Study 1) and a lab experiment (Study 2) confirm this anticipated interaction effect. In addition, Study 2 shows that the extent of experienced self-control conflict underlies this combined effect of food granularity and operationalization mode on consumption. This study also shows that (un)restrained eating is an additional moderator of the interaction. These findings highlight that the manner used to divide tempting foods has important implications for consumption, which is relevant in light of the current obesity epidemic. 相似文献
11.
André Ebner 《Emerging Markets Review》2009,10(2):97-121
This paper studies the spread between 10 year Euro denominated Central and Eastern European (CEE) government bonds and their German counterpart. With newly available time series, regressions are run for each country separately in order to deliver a first insight into the underlying determinants. While higher ECB reference rate and market volatility increase bond spreads and turn out to be the main driving factors, there is no common pattern of macroeconomic fundamentals, pointing to strong heterogeneity within the CEE region. Overall, market variables are more significant than fundamentals during 1999 to 2007. 相似文献
12.
In the context of pricing strategies, the notion of price tolerance is an important construct for academic researchers and marketing managers. In this article, a conceptual model of factors influencing the level of price tolerance is proposed and empirically tested with the use of data collected from airline passengers. The results support most propositions of the conceptual model and offer several insights for managerial action and further academic research. © 2004 Wiley Periodicals, Inc. 相似文献
13.
The impact of firm entry regulation on long-living entrants 总被引:1,自引:0,他引:1
Susanne Prantl 《Small Business Economics》2012,39(1):61-76
What is the impact of firm entry regulation on sustained entry into self-employment? How does firm entry regulation influence the performance of long-living entrants? In this paper, I address these questions, exploiting a natural experiment in firm entry regulation. After German reunification, East and West Germany faced different economic conditions, but fell under the same law that imposes a substantial mandatory standard on entrepreneurs who want to start a legally independent firm in one of the regulated occupations. The empirical results suggest that the entry regulation suppresses long-living entrants, not only entrants in general or transient, short-lived entrants. This effect on the number of long-living entrants is not accompanied by a counteracting effect on the performance of long-living entrants, as measured by firm size several years after entry. 相似文献
14.
In this paper the determinants of new firm formation in the producer services are studied by using National Security data on firms with at least one employee. Two ratios are computed and analysed for the 95 Italian provinces: an index of fertility represented by the share of new enterprises on employees, and a birth rate represented for each province by the ratio between new enterprises and resident population. On examination of the determinants of this process, we found that the average wage rates and the ratio of utilized credit to the total line of credit negatively affect both indexes, and that both indexes are affected positively by sector growth and by a measure of small firm presence. The index of fertility is also explained by a dummy variable which identifies for each province those policies which are aimed at fostering the process of new firm formation. The birth rate is instead affected by a dummy variable which is equal to one for the provinces in which the chief towns of each region are located and zero otherwise, and by the potential demand for new producer services arising from the industrial sector. 相似文献
15.
Kristina Nyström 《Journal of International Entrepreneurship》2007,5(3-4):85-110
This paper uses a unique dataset which gives a complete picture of the pattern of entry and exit in industrial sectors in Sweden during the period 1997–2001. The importance of profitability, industrial market growth, tangible capital intensity, intangible capital intensity and economies of scale for entry and exit are investigated. A fixed effects panel data model is used, and it is shown that the inclusion of unobserved industry-specific effects explains many of the inter-industrial differences in entry and exit rates. For policymakers, this implies that it is difficult to formulate an entrepreneurship policy that can be expected to be equally successful across all industries. It is also shown that investments in intangible assets is one way to compete, while economies of scale tend to deter entry rates. 相似文献
16.
Francisco J. Mas-Ruiz Enar Ruiz-Conde Aurora Calderón-Martínez 《International Business Review》2018,27(6):1259-1269
This study examines imitation behavior in the foreign entry mode of the members of a strategic group within the industry. Following the institutionalist perspective, we argue that legitimating actors (trade associations, training institutions and investors, among others) can exert pressure on strategic group members to conform to institutionalized organizational practices and structures. We hypothesize that a company’s choice of foreign entry mode is determined by the previous choices of other companies within the strategic reference group. Thus, the probability of entry with a wholly owned subsidiary (versus shared-control entry) increases when the number of wholly-owned subsidiaries established by companies within the strategic reference group of the home-country is higher. We analyze 351 foreign direct investments of 30 Spanish banks in 55 countries between 1986 and 2008. Our results reveal imitation behavior between members of the strategic group and highlight the important role of the strategic group in strategic thinking. 相似文献
17.
Lina Hollender Florian B. Zapkau Christian Schwens 《International Business Review》2017,26(2):250-263
Firms’ foreign market entry mode choice attracts considerable research attention. However, the performance implications of this choice remain inconclusive, particularly in the context of small and medium-sized enterprises (SMEs). The present paper draws on the resource-based view (RBV) and develops a theoretical model specifically tailored to the context of SMEs in order to study the relationship between entry mode choice and foreign venture performance. Testing hypotheses on 133 German SMEs, we show that international experience as a resource and product adaptation as a capability improve the performance of non-equity entry modes by mitigating liabilities of smallness inherent to SMEs. We furthermore find empirical support for the joint moderating effect of international experience and product adaptation on the focal relation. Our findings contribute to the SME foreign market entry mode literature and have implications for practitioners and future research. 相似文献
18.
Stéphane Straub 《Journal of International Economics》2008,74(2):245-263
The paper develops a theoretical approach to the boundaries of the multi-national firm in the context of institutional constraints in host countries, focusing especially on corruption. The model incorporates two types of corruption: petty bureaucratic corruption and high-level political corruption. The model predicts that-in the absence of corruption-multinational firms will prefer FDI (internal expansion with strong control rights) to debt (arm's length expansion with loose control rights), the weaker the host country's ability to commit. However, both types of corruption shift the trade-off marginally toward debt. Cross-country panel empirical evidence supports these conclusions. Corruption has a second order marginal effect and matters mostly through its interaction with political risk. 相似文献
19.
入世后中国汽车出口贸易成长分析 总被引:1,自引:0,他引:1
入世为中国汽车工业带来很大的机遇。随着中国汽车出口贸易的不断增长,中国汽车工业必然要“走出去”。那么中国汽车工业如何发挥优势、为自己创造良性生存空间?在拓展国际市场的过程中,中国汽车工业还将面对哪些潜在的障碍? 相似文献
20.
Innovative products are widely recognized as an important source of competitive advantage. However, many companies have difficulties finding efficient and successful approaches to different types of R&D projects, particularly those that involve a high level of innovativeness. Therefore, the present study moves effectuation theory from the entrepreneurial context to R&D research. First, the characteristics of an effectual approach in the context of R&D projects are developed and differentiated from those of conventional prediction-based strategies (causation). Second, using a thorough qualitative and quantitative scale-development process to capture particularities of effectual and causal dimensions in the R&D context, expert interviews and a pilot study (123 R&D projects), the study develops a multi-factor measurement model of effectuation and causation. These measures are validated in a follow-up study with a larger sample of 400 projects. Third, the new measures are applied to test two central hypotheses: (a) effectuation is positively related to success in highly innovative contexts, (b) causation approaches are beneficial in projects with low levels of innovativeness. Overall, this study moves the effectuation logic from the entrepreneurial to the corporate R&D context, captures its particularities, and investigates its performance outcomes. 相似文献