The role of geographic distance in completing related acquisitions: Evidence from U.S. chemical manufacturers

Acquisitions often do not reach completion when buyers' initial evaluations change during post‐announcement due diligence investigations, but research offers only limited explanations for when such deal‐cancelling new information will be most common. Drawing from the spatial geography and acquisition strategy literatures, we argue that successful completion of acquisitions can be partially explained by their spatial characteristics. We start by predicting that geographic distance has a particularly strong impact in reducing the likelihood of completing related acquisitions; we then identify contingencies based on multiple forms of direct, contextual, and vicarious experience that can help acquirers overcome the constraints of distance. We test the arguments with a sample of 1,603 domestic acquisitions announced by 724 U.S. chemical manufacturing firms between 1980 and 2004. Copyright © 2015 John Wiley & Sons, Ltd.     

Evolutionary diffusion: internal and external methods used to acquire encompassing,complementary, and incremental technological changes in the lithotripsy industry

This study links theories concerning methods that firms use to acquire technology with theories concerning types of technological change. We place particular emphasis on interorganizational relationships. We predict that firms will often acquire know-how needed for encompassing technological change through equity-based arrangements with other organizations, complementary technological changes through nonequity interorganizational arrangements, and incremental changes through internal R&D. Our theory draws on perspectives that emphasize the need to develop new competencies within a business organization and to protect the value of existing competencies. Our empirical analysis examines methods of technology acquisition that firms have used in the commercialization of medical lithotripters, which are devices that fragment stones in the kidney and gall bladder. The analysis contributes to a better understanding of how technology acquisition methods vary with the manner in which technological change relates to a firm's existing capabilities. The study also helps develop our understanding of the evolutionary processes by which capabilities diffuse through an industry. © 1998 John Wiley & Sons, Ltd.     

LOCAL GOVERNMENTS,UNEXPECTED DEPRECIATION AND FINANCIAL PERFORMANCE ADJUSTMENT

Prior management and manipulation of financial accounting information research has overwhelmingly been focused within a private sector setting. This study adopts a public sector focus in empirically examining the use of a specific discretionary accrual (i.e., depreciation) to adjust the financial performance of New South Wales (Australia) local governments. Findings indicate a significant positive association between absolute unexpected depreciation and absolute local government income before capital contributions, and a significant positive association between absolute unexpected depreciation and capital contributions. Overall, the results make significant contributions to various literature streams with implications for various stakeholders interested in local governmental financial performance.     

To thine own self be true: Images of self,images of opportunity,and entrepreneurial action

While research in entrepreneurship continues to increase general understanding of the opportunity-recognition process, questions about its nature nonetheless persist. In this study, we seek to complement recent research that relates “the self” to the opportunity-recognition process by deepening understanding of the self vis-à-vis this process. We do this by drawing on the self-representation literature and the decision-making literature to introduce two distinct types of images of self: images of vulnerability and images of capability. In a study of 1936 decisions about hypothetical entrepreneurial opportunities made by 121 executives of technology firms, we then investigate how both types of images of self affect the images of opportunities that underlie opportunity recognition. Our results indicate that both images of self – vulnerability and capability – impact one's images of opportunity.     

What should you pay to host a party? An economic analysis of hosting sports mega-events

Governments all over the world put huge amounts of money into bidding for, and then hosting, sports events like Football’s World Cup or the Olympic Games. They also give money to professional sports teams and other mega-events to encourage them to locate within a particular constituency. This article examines the statistical relationship between tourism and three Football World Cups and five Olympic Games, finding very little positive effect. Given this conclusion, the article looks at why governments continue to bid for these competitions. It presents evidence that shows that these sports contests make people happy, and argues that politicians capitalize on this feel-good factor; harnessing the hubris associated with these events for political gain. The article then contends that the best way to reduce the politics associated with bidding for mega-events is to allocate them via an auction, rather than the wasteful rent-seeking methods that are currently used.     

Agri-tainment: A New Crop for Farmers

Agricultural tourism has allowed farmers to reach new consumers, cultivate new revenue streams, educate the public regarding their work, and to preserve their way of life. Today, many farmers are going beyond the traditional hayride or pick-your-own orchards to include attractions and amusements. They have transformed the category, even prompting a new name, agri-tainment (agricultural entertainment). In the process, the family farm has become a destination itself. The rationale behind their development along with the consumer interest in experiencing such tourism venues is discussed.     

Exploring the international student recruitment industry through the Strategic Orientation Performance Model

Abstract

International education is an important, and expanding, global industry. However, much remains unknown about the international student recruitment (ISR) industry, its key variables, and its performance outcomes. This study addresses this lack of understanding by developing and empirically testing a conceptual model that investigates ISR performance indicators. The Strategic Orientation Performance (SOP) Model is proposed as an investigative framework. The model is a conceptual representation of the relationships proposed to exist between market orientation, learning orientation, innovativeness, perceived external market effects, and perceived organisational performance. The study adopted a quantitative methodology using a self-administered questionnaire delivered to ISR practitioners via e-mail. Analysis, via partial least squares (PLS), provided support for the SOP Model in the ISR context. The SOP Model extends previous orientation-performance models. Additionally, within a discordant body of market orientation literature, this study aligns with one of the dominant paradigms and, thereby, provides a strong impetus for further research. Furthermore, future research will benefit significantly through the use of the SOP Model as a solid foundation for further discovery in this important research domain.     

Your employment brand: is it working for or against you?

The ability to attract and retain hard-to-find professionals is vitally connected to the perceptions of your organization both internally and externally. Many organizations confuse their employment brand with branding and all too often put considerable effort and often scarce resources against ineffective initiatives. Most health care organizations do not consistently allocate the necessary resources needed to build and sustain a strong employer brand. The relationship between employers and employees to and among each other and the values you strive for collectively are the cornerstones of your employment brand. It is imperative for nurse leaders to create and sustain an environment where employees are inherently positive and connected to their organization.     

We Used to Get and Give a Lot of Help: Networking,Cooperation and Knowledge Flow in the Hunter Valley Wine Cluster

The Hunter Valley, New South Wales, is both Australia's oldest continually producing wine region and a highly functioning wine business cluster. New generation cluster actors perceive that the region's concentration of historic family‐based firms has contributed to its strength. We have used rarely consulted and newly accessioned evidence from the 1820s to the 1920s to qualitatively test the extent to which early networking created pathways for knowledge flow in the region. Our cross‐disciplinary research into the historic depth of embedded cooperation reveals a little known feature of early Australian business history and complements the more commonplace breadth approach in cluster studies.