ABSTRACTThe objective of this work is twofold: firstly, to study if the characteristics of the industry affect certain financial and strategic decisions of manufacturing firms and, secondly, to determine if the strategy of diversifying the activity through vertical integration generates good financial results in times of crisis, depending on the industry. To this end, an analysis is carried out with panel data from 9,523 firms in the period between 2008 and 2013. The results show that there are different strategies that firms must follow, depending on the industry to which they belong. In sectors with lower operational risk, those firms characterized by greater specificity and better product quality obtained higher profitability. However, in riskier sectors, firms with more specific assets assumed too many risks and in times of crisis have seen their profitability fall. Likewise, it is observed that the decision to integrate vertically has mitigated the weak points of each sector, allowing firms to better weather the economic–financial crisis in which this research is framed. 相似文献
Although business restructuring occurs frequently and it is important for the prosperity of family firms across generations, research on family firms has largely evolved separately from research on business restructuring. This is a missed opportunity, since the two domains are complementary, and understanding the context, process, content, and outcome dimensions is relevant to both research streams. We address this by examining the intersection between research on business restructuring and family firms to improve our knowledge of each area and inform future research. To achieve this goal, we review and organize research across different dimensions to create an integrative framework. Building on current research, we focus on 88 studies at the intersection of family firm and business restructuring research to develop a model that identifies research needs and suggests directions for future research. 相似文献
Family firms are classically seen as risk averse organizations, and this is evident in their generally lower R&D investments compared to non-family firms. Recent research, however, challenges this predominant view and suggests that family firms can embrace higher strategic risk when faced with threats to their family-centered goals. Still, the internal and external conditions that drive variations in the strategic risk taking behaviors of family firms are little known and understood. This article adds to this literature by developing and testing a conceptual model of strategic risk taking that incorporates behavioral theory, family business literature, and the logic of the strategic reference point theory. With recognition that the interplay between family and economic goals determines heterogeneity in strategic actions of family firms, this model suggests that family managers respond differentially to the feedback information regarding internal and external reference points, and consequently identifies key drivers of variation in the R&D investment behavior of family firms. By examining the pattern in R&D investments of 437 Spanish private manufacturing firms from 2000 to 2006, this study shows how strategic inputs, strategic outputs, and external benchmarks produce variations in strategic decisions about R&D investments in family and non-family firms. The findings offer insights into how internal and external reference points are considered in family firms’ decision making, thereby contributing a deeper understanding into the circumstances under which family goals cope or collide with the economic goals of the firm, and how this influences strategic risk decisions in family firms. 相似文献
We revisit the study of organizational goals, outcomes, and assessment of performance that together define the process leading to ‘success’. We begin by conducting a systematic review of existing research which allows us to develop an integrative framework discussing this large body of work. We then describe contemporary research examples in light of our proposed framework. We close by proposing four new areas to continue to advance the field: reconceptualizing performance (and success) as achievement of goals; diversity of goal systems in research designs, and their relationship with the purpose of an organization; multilevel and temporal dynamics; and governance of goal setting. Overall, our efforts inform future research on organizational success in the context of our new societal challenges and accomplish the intriguing task of re-defining success in management studies. 相似文献
This study explores how the corporate entrepreneurship (CE) of state-owned enterprises (SOEs) evolves under varying conditions of state ownership and control, laws and norms, and competence in the market. For this purpose, we present a longitudinal case study focused on the Spanish postal operator Correos using qualitative archival data and interviews. Our results indicate that the willingness and capacity of an SOE to act entrepreneurially depends critically on its degree of autonomy from the state and on the extent to which its legal and market environments increase its dynamism, complexity, and hostility. We also show that the development of CE in an SOE may lead to improved service quality, operational efficiency, and business specialization; facilitate its market positioning; and foster its sustainability through the exploration and exploitation of strategic alliances that can increase its business scope.
This study explores the effectiveness of international instruments for identifying the curious and alerts us to the relative ineffectiveness of foreign instruments to map the curious in Brazil. We used indirect questions to better map the most curious collaborators at Brazilian organizations. We believe our instrument eludes the Brazilian bias for impression management. Our sample covered 384 respondents in Brazil and identified that there are more curious professionals in small and medium-sized enterprises than in large and multinational companies, and that team members are more curious than those in managerial positions. Furthermore, our study reveals that the most curious perceive to be penalized when offering their perceptions regarding weak signals. This study points the need to invest in developing and protecting a more curiosity-oriented staff. In addition to contributing to the literature on curiosity at work, this study provides insights for companies that want to develop their teams to perceive business weak signals. 相似文献
The drivers for the internationalization of business teaching and research were multinational corporations, the Cold War, and the relative price advantage of non-America business schools. Yet, the internationalization largely failed to reflect local contexts. The consequent paucity of original local business thought, international or not, exposes non-American business schools to the raid of American-based massive open online courses which will prune off the mainstay courses at emerging market business schools. Deprived of a substantial share of their fee-paying students, the remaining docents at those schools will be less likely to publish altogether, including in fields that might sustain independent thought. Therefore, American-like international business research is likely to have a longer life, more narrowly focused on English-speaking countries and Europe, with even less of a contribution from emerging markets. 相似文献
The cross-cultural analysis is largely bounded to countries, as organizational culture analysis is to corporations. This exploratory analysis brings the two together to signal what leadership styles might fit best in which markets. Populations tending to selflessness and obedience might respond more poorly to typical MBA-trained business leaders. 相似文献
We analyze why national development banks (NDBs) may provide longer-term loans to firms than private commercial banks (PCBs). If NDB bonds have higher collateral value than PCB bonds, then NDBs may lend longer-term than PCBs. NDBs may enjoy higher recapitalization willingness and capacity by the state and hence greater collateral value than PCBs. Moreover, NDBs may have advantages over state-owned commercial banks if NDB bonds enjoy higher market liquidity. However, NDBs may suffer from poor monitoring quality owing to undue political intervention, thus undermining collateral value. Our study implies that NDBs are not substitutes for but complements to PCBs. 相似文献