Rough and lonely road to prosperity: a reexamination of the sources of growth in Africa using Bayesian model averaging

This paper takes a fresh look at Africa's growth experience by using the Bayesian model averaging (BMA) methodology. BMA enables us to consider a large number of potential explanatory variables and sort out which of these variable can effectively explain Africa's growth experience. Posterior coefficient estimates reveal that key engines of growth in Africa are substantially different from those in the rest of the world. More precisely, it is shown that mining, primary exports and initial primary education exerted differential effect on African growth. These results are examined in relation to the existing literature. Copyright © 2008 John Wiley & Sons, Ltd.     

Modes of cooperative R&D commercialization by start‐ups

This study empirically examines the determinants of heterogeneous firm‐level cooperative R&D commercialization strategies. While the volume of interfirm collaboration has increased dramatically in recent decades, the determinants of firm‐level choices among alternate modes of such cooperative activity remain relatively understudied. We develop a conceptual model of factors determining collaborative mode choice at the organizational portfolio level. These factors include the firm‐level appropriation environment, in which deal‐level choices have portfolio‐level spillover implications, as well as governance capabilities developed by the firm over time. Using a random sample of innovating biotechnology start‐ups, we assemble a firm‐year panel dataset that aggregates transaction‐level collaboration data to the firm‐year level, allowing us to characterize firms' portfolios of collaborative deals. We find broad empirical support for our model, suggesting that a firm's appropriation environment and governance capabilities strongly influence portfolio‐level collaboration mode choices. In addition, we explore the implications of governance capability development, finding that experience with particular modes, as well as deviations from existing capabilities, impact firm valuation. Copyright © 2009 John Wiley & Sons, Ltd.     

Multinationals do it better: Evidence on the efficiency of corporations' capital budgeting

With U.S. multinational enterprises playing increasingly important roles in the global economy, it is important to understand the efficiency of their capital budgeting decisions. We examine an unbalanced panel of 332 U.S. firms from 1992–2000. Using the deviation of a firm's estimated marginal Tobin's q from a benchmark as an indicator of effective resource allocation, we find that widespread multinationals make more efficient capital budgeting decisions. We also test whether this reflects the MNEs' investment locations, but do not obtain support for the hypotheses that they might be monitored by more agents or more successfully resist pressures from interest groups and governments.     

In Defense of Boards

It is often assumed that bad corporate performance means a bad CEO. The task of a board of directors is then simple: dismiss the executive. If it fails to do so, the board is said to be indolent. We take a kinder approach to observed board behavior and point to the problems even well-intended boards would encounter. They face the twin task of disciplining and screening executives. We analyze the nature of the retention contract a board uses to discipline and screen executives. Consistent with empirical observation, we find that executives may become overly active to show their credentials, and that the link between bad performance and dismissal is weak.     

“The Worse You Behave, The More You Seem, to be Rewarded”: Bullying in Nursing as Organizational Corruption

This paper reports findings from the first, qualitative stage of a national sequential, mixed method study of bullying in the Australian nursing workplace. Twenty-six nurses who had experience of workplace bullying were recruited from two Australian public sector health care organizations. Examining the narrative data from the viewpoint of bullying being a corrupt activity we present an alternative perspective on group acts of bullying. By exploring bullying as corrupt behaviour, this paper challenges the assumption that bullying can be principally considered a series of isolated events stemming from interpersonal conflict, organizational pressures, or poor work design. Corruption in organizations has not previously been linked with or compared to bullying. In revealing the manner in which actors can engage in corrupt conduct that includes bullying, the findings from our study offer important implications for the management of workplace bullying as a serious and corrupt activity.     

Prolific authors and institutions in leading international business journals

The science and practice of international business is advanced through scholarly contribution to the leading international business journals. Increased competition among academic institutions has led to increased emphasis on publication in the leading international business journals. Yet, little is known as to the answers to questions such as: (1) Who are the most prolific authors in the leading international business journals? and (2) Which educational institutions appear poised to lead international business scholarship? To examine these questions, the study examines scholarly work in international business over the past eleven years in six leading international business journals (i.e., Journal of International Business Studies, Management International Review, Journal of World Business, International Marketing Review, Journal of International Marketing, and International Business Review). Addressing these two research questions provides us with a more complete understanding of the authors and institutions most likely to influence the field of international business.     

A LOGISTICS STRATEGY TAXONOMY

Beginning with Bowersox and Daugherty's (1987) influential work describing three unique logistics organizational forms, researchers have generally taken a theoretical typology approach to classifying logistics strategies, and attempts to validate the numerous proposed typologies have produced inconsistent and somewhat conflicting results. In an attempt to add clarity to this stream of research, the current article partially replicates and extends the previous studies using a more rigorous and data‐driven methodology, by developing an empirical taxonomy with firmlevel logistics activities used as clustering criteria. The results identify two primary logistics strategy types used by contemporary firms. The revealed strategies are somewhat parallel to two of the three strategic orientations proposed within the original Bowersox and Daugherty (1987) typology, but also elements suggested by other researchers, as well as new concepts introduced since the original work was published. Based on the results, implications of the revealed logistics strategy taxonomy are provided for managers, and foundations are laid for researchers seeking to undertake further inquiry in the area.     

AN ETHICAL ASSESSMENT OF THE USE OF ECONOMIC SANCTIONS AS A TOOL OF FOREIGN POLICY

This paper is the third in a series of articles that examines the shortcomings of economic sanctions. Drawing on Mill's utilitarianism, Kant's categorical imperative and Rawls's theory of justice, the conceptual frameworks of consequentialism, deontology and contractualism are used to demonstrate the unethical nature of this increasingly popular instrument of foreign policy.     

POVERTY EQUIVALENT GROWTH RATE

This paper proposes a new type of growth rate, called the “poverty equivalent growth rate” (PEGR), which takes into account both the growth rate in mean income and how the benefits of growth are distributed between the poor and the non‐poor. The proposed measure satisfies a basic requirement that the proportional reduction in poverty is a monotonically increasing function of the PEGR. Thus, maximizing the PEGR implies a maximum reduction in poverty. The paper demonstrates that the magnitude of PEGR determines the pattern of growth: whether growth is pro‐poor in relative or absolute sense or is “poverty reducing” pro‐poor. The pattern of growth has been analyzed for Brazil using the National Household Survey (PNAD) covering the period 1995–2005.