The waiting period of initial public offerings

The length of time it takes an IPO firm to go public (called ‘waiting period’) reflects multiple layers of scrutiny from underwriters, auditors, venture capitalists, institutional investors, and regulators. Accordingly, we show that the waiting period is a good barometer of ex ante uncertainty about future cash flows and that it has predictive power after the firm goes public. We find that firms marked by short waiting periods experience lower underpricing and less uncertainty and superior stock/operating performance in the aftermarket. We also report that smaller firms are taking longer to go public after SOX Act, thus providing justification for the 2012 JOBS Act.     

Cross-Cultural Ethics and the Child Labor Problem

This paper examines the issue of global child labor. The treatment is grounded in the classical economics of Adam smith and the more recent writings of human capital theorists. Using this framework, the universal problem of child labor in newly industrializing countries is investigated. Child labor is placed in its historical context with a brief review of practices in the United States and Great Britain at the time those countries were industrializing. Then, child labor is examined in its contemporary global context. We argue that, as countries industrialize, they tend to follow predictable patterns of development – including use of and eventual abandonment of child labor. We argue that this convergence under the logic of industrial capitalism supports a universalist approach to human rights (that would condemn child labor) over a more tolerant cultural relativist approach.     

Pricing and Management of Recreational Activities Which Use Natural Resources

This paper analyses the economic efficiency ofmanagement regimes for the recreational use of anatural resource. Management must determine the useand development of the natural resource. Thefirst-best policy uses price to offset theexternalities of crowding and deterioration. This iscontrasted with two second-best polices which do notuse pricing: unrestricted access and quotas. Acondition under which a relaxation of quota levelincreases efficiency is derived. Under iso-elasticfunctional forms quotas are less efficient thanunrestricted access.     

Repatriation of European female corporate executives: an empirical study

The increased internationalization of business in recent years has made the understanding of international human resource management problems more important for executives in multinational companies. In recent years, researchers have paid considerable attention to the issues of adjustment of managers to international assignments. Interestingly, comparatively little research has been undertaken on the topic of repatriation, i.e. re-entry and readjustment of international managers and their families to their home countries. Despite the growth of women in international management there are very few studies that document the repatriation experiences of female international managers. In particular, very few studies have been conducted outside North America on the topic of repatriation of female corporate executives. This paper reports on the experiences of re-entry to home organizations and home countries by an exclusively senior sample of female international managers in Western Europe. Based on extensive empirical research, the findings establish that the repatriation phase of the international career move may be even more stressful than expatriation. The findings also establish that female international managers experience more difficulties than their male counterparts because of their pioneering roles. Finally, the paper suggests that home-based mentors and access to networks while abroad are important factors in contributing to the successful repatriation of international managers. The research findings make a theoretical contribution, not only to the analysis of gender and international human resource management but, also, to wider debates within the contemporary women in management and career theory literatures.     

A New Role for Psychographics in Media Selection

Most media selection problems involve some kind of matching between media audience and target market membership. As a rule, this matching is done indirectly, using demographics as mediating variables. Recent studies have suggested that psychographics might also be used for this purpose.

This study evaluates the performance of a standard set of psychographic variables as mediators of the media-market relationship. It then discusses the implications of this performance for media selection theory.     

‘The Substitution of One Piece of Nonsense for Another’: Reflections on Resistance,Gaming, and Subjugation

This article reflects upon Willmott's 1993 article (‘Strength is ignorance; slavery is freedom: managing culture in modern organizations’) by revisiting the idea of ‘Corporate Culturism’ and its relevance for contemporary developments in management and organization, including higher education. It incorporates a commentary on how 1984 and ‘Strength is ignorance’ have been read and some reflections on the genesis of the original 1993 article. It then expands on themes in ‘Strength is ignorance’ which are of continuing relevance, and draws out implications for our research and professional lives, as scholars, working in business schools.     

The installed base effect: Implications for the management of innovation

Most studies of barriers to the adoption of innovations concentrate on characteristics of the population (consumer or organizational), features of the product, or the marketing mix This paper examines a seldom studied barrier— the installed base of the technology or product being supplanted In order to describe the magnitude of this barrier and to provide recommendations for overcoming it, the Installed Base Effect is examined from three dimensions: supply, demand and market externalities     

Potential Contributions of Political Science to Environmental Economics

While political science has much to offer, at least some of its contributions might be difficult to incorporate into economic models. Nevertheless, we argue that environmental economics might benefit from supplementing, combining, or sometimes even replacing the rational choice approach with other approaches commonly used in political science. We develop our argument by examining three core components of political science analysis: ideas, power, and institutions. For each component we review political science approaches and propositions with a view to determining “what’s in it” for environmental economics.     

The genesis of strategy in new ventures: escaping the constraints of founder and team knowledge

Although an entrepreneur's initial strategy choices have a critical effect on a new venture's survival, growth, and long‐term performance, few studies have explored how pre‐founding experience influences these choices. Founders who over rely on their historical industry experiences may simply replicate the strategies of legacy firms. In turn, little is known about how founders can break these experience‐based constraints, if they exist. In an empirical analysis of 120 prospective entrants in air transportation from 1995–2005 we find that a founder's past experience strongly constrains choices, and the effect depends on the form of experience and type of strategy choice. Diversity of experience, at the level of the founder and founding team, lessens these constraints. Our results have valuable implications for research in strategy and entrepreneurship. Copyright © 2011 John Wiley & Sons, Ltd.