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11.
Corporate governance and IPO underpricing in a cross‐national sample: A multilevel knowledge‐based view
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William Q. Judge Michael A. Witt Alessandro Zattoni Till Talaulicar Jean Jinghan Chen Krista Lewellyn Helen Wei Hu Dhirendra Shukla R. Greg Bell Jonas Gabrielsson Felix Lopez Sibel Yamak Yves Fassin Daniel McCarthy Jose Luis Rivas Stav Fainshmidt Hans Van Ees 《战略管理杂志》2015,36(8):1174-1185
Prior studies of IPO underpricing, mostly using agency theory and single‐country samples, have generally fallen short. In this study, we employ the knowledge‐based view (KBV) to explore underpricing across 17 countries. We find that agency indicators are insignificant predictors, board of director knowledge limits underpricing, and external knowledge both substitutes for and complements internal board knowledge. This third finding suggests that future KBV studies should consider how internal and external knowledge states interact with each other. Our study offers new insights into the antecedents of underpricing and extends our understanding of comparative governance and the KBV of the firm. Copyright © 2014 John Wiley & Sons, Ltd. 相似文献
12.
Krista Tuomi 《Journal Of African Business》2013,14(1):133-147
In this article, the author uses microdata and firm interviews to explore the role of foreign direct investment drivers in South Africa. Reinforcing the majority of the foreign direct investment literature, she finds that pecuniary incentives play a negligible role in the investment decision for the majority of firms. The micro level of analysis enables specification of the investment climate constraints that are decisive—notably political and regulatory uncertainty, skills, labor regulation, and exchange volatility. This area-specific analysis contains potential lessons for other sub-Saharan countries. 相似文献
13.
Growth,Uniformity, Local Responsiveness,and System‐Wide Adaptation in Multiunit Franchising
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Using the resource‐based view framework, we investigate the link between multiunit franchising (MUF) and performance on four key challenges in franchise chain management: growth, uniformity, local responsiveness, and system‐wide adaptation. Our findings support the assertion that system growth is positively related to MUF rate within a system, in particular in relation to geographic expansion. Interestingly, while uniformity does not seem to be related to MUF rate, we find marginal support for an inverted u‐shaped relationship between system‐wide adaptation and MUF rate. Furthermore, the data suggest that local responsiveness and MUF rate are related in a u‐shaped function. 相似文献
14.
Krista B. Lewellyn Maureen I. Muller-Kahle 《The International Entrepreneurship and Management Journal》2016,12(3):765-790
This paper explores entrepreneurial activity for men and women across 40 countries. Building on research grounded in social cognitive and institutional theories, we propose a configurational approach to explore how effects of different causal conditions are interdependent in explaining gender specific entrepreneurial activity. Using fuzzy-set qualitative comparative analysis, we find that no one causal element is sufficient for promoting entrepreneurial activity. Instead micro-level attributes of entrepreneurial self-efficacy and opportunity recognition in combination with macro-level business environment formal institutions and national culture create configurations of conditions that lead to high levels of entrepreneurial activity amongst men and women. Moreover, the causal factors configure in different ways for male and female entrepreneurs. This study demonstrates the value of using a configurational analytical technique to explore together the micro- and macro- complexities of what drives men and women around the world to engage in entrepreneurial activity. 相似文献
15.
Clinton Key Jenna N. Tucker Michal Grinstein‐Weiss Krista Comer 《The Journal of consumer affairs》2015,49(3):489-518
This article explores savings outcomes for participants in the $aveNYC tax‐time matched savings program compared with a group of New York City tax filers who were not offered the program. $aveNYC was administered at Volunteer Income Tax Assistance sites during the 2008–2010 tax seasons. The program offered taxpayers the opportunity to open a savings account with their tax refund and receive a 50% match on their initial deposit. The study's primary outcome is savings held by respondents 6–11 months after receipt of matching funds. We compare participants in the 2009 program cohort to a comparison group on the following outcomes: level of savings, having nonzero savings, and having enough savings to cover one or two months of expenses at current consumption levels. We find significant differences on savings levels, the presence of any savings, and the likelihood of having savings to meet one month's expenses. 相似文献
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Krista Schwarz 《期货市场杂志》2012,32(1):1-23
The positions of hedgers and speculators are correlated with returns in a number of futures markets, but there is much debate as to the interpretation of such a relationship—whether it reflects private information, liquidity, or trend‐chasing behavior. This paper studies the relationship between positioning of hedgers and speculators and returns in equity futures markets. I propose a novel test of the private information hypothesis: analyzing the effect of public announcements about futures positions on prices, using high‐frequency data in short windows around the announcements. I find that the revelation of speculators' positions is informative to investors more broadly, supporting the private information view. © 2011 Wiley Periodicals, Inc. Jrl Fut Mark 相似文献
18.
Patsy A. Granger Lewellyn 《Journal of Business Ethics》1996,15(5):559-569
This study obtained data about faculty attitudes on the ethical propriety of and estimated involvement with 38 activities. A questionnaire, mailed to 480 randomly selected Information Systems (IS) academicians provided insights into the ethical standards held by IS faculty. Several attitudinal differences, based upon individual and institutional demographic characteristics were identified. The most discriminating individual characteristic explaining differences in faculty attitudes was appointment level. The IS major at the graduate level explained more differences in attitude and more critical attitudes than any other factor.Patsy Lewellyn holds the John M. Olin Chair of Enterprise at the University of South Carolina — Aiken. She is an Associate Professor of accounting and information systems. Her research interests include behavioral and ethical aspects of business practice, and innovative business education. 相似文献
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Raymond R. Tan Kathleen B. Aviso Michael Angelo B. Promentilla Francesca Dianne B. Solis Krista Danielle S. Yu Joost R. Santos 《Economic Systems Research》2015,27(1):43-59
Recent disasters have underscored the importance of enhancing resilience in economic systems. In this work, we propose a novel shock absorption index, which provides a measure of the ability of an economic system to tolerate disruptions. It is assumed that there are externally defined initial levels of system failure or disruption, as well as maximum allowable levels of inoperability for each sector. The shock absorption index is defined as the largest fraction of the anticipated initial disruption that can be absorbed by the predefined robustness limits. It provides an overall measure of the robustness of an economic system towards a disruptive event, which is driven by both the economic structure and the individual robustness of different sectors. The results of two case studies illustrate policy-making insights in identifying and prioritizing risk management strategies for critical systems. 相似文献
20.
William Voorberg Victor Bekkers Sophie Flemig Krista Timeus Piret Tõnurist Lars Tummers 《公共资金与管理》2017,37(5):365-372
Co-creation in public service delivery requires partnerships between citizens and civil servants. The authors argue that whether or not these partnerships will be successful depends on state and governance traditions (for example a tradition of authority sharing or consultation). These traditions determine the extent to which co-creation can become institutionalized in a country’s governance framework. 相似文献