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Organizational knowledge is much talked about but little understood. In this paper we set out to conceptualize organizational knowledge and explore its implications for knowledge management. We take on board Polanyi’s insight concerning the personal character of knowledge and fuse it with Wittgenstein’s insight that all knowledge is, in a fundamental way, collective. We do this in order to show, on the one hand, how individuals appropriate knowledge and expand their knowledge repertoires, and, on the other hand, how knowledge, in organized contexts, becomes organizational. Our claim is that knowledge is the individual capability to draw distinctions, within a domain of action, based on an appreciation of context or theory, or both. Organizational knowledge is the capability members of an organization have developed to draw distinctions in the process of carrying out their work, in particular concrete contexts, by enacting sets of generalizations whose application depends on historically evolved collective understandings. Following our theoretical exploration of organizational knowledge, we report the findings of a case study carried out at a call centre in Panafon, in Greece. Finally, we explore the implications of our argument by focusing on the links between knowledge and action on the one hand, and the management of organizational knowledge on the other. We argue that practical mastery needs to be supplemented by a quasi‐theoretical understanding of what individuals are doing when they exercise that mastery, and this is what knowledge management should be aiming at. Knowledge management, we suggest, is the dynamic process of turning an unreflective practice into a reflective one by elucidating the rules guiding the activities of the practice, by helping give a particular shape to collective understandings, and by facilitating the emergence of heuristic knowledge. 相似文献
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The impact of corporate social responsibility on investment recommendations: Analysts' perceptions and shifting institutional logics
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We explore the impact of corporate social responsibility (CSR) ratings on sell‐side analysts' assessments of firms' future financial performance. We suggest that when analysts perceive CSR as an agency cost they produce pessimistic recommendations for firms with high CSR ratings. Moreover, we theorize that, over time, the emergence of a stakeholder focus shifts the analysts' perceptions of CSR. Using a large sample of publicly traded U.S. firms over 15 years, we confirm that, in the early 1990s, analysts issue more pessimistic recommendations for firms with high CSR ratings. However, analysts progressively assess these firms more optimistically over time. Furthermore, we find that analysts of highest status are the first to shift the relation between CSR ratings and investment recommendation optimism. Copyright © 2014 John Wiley & Sons, Ltd. 相似文献
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Paul Healy George Serafeim Suraj Srinivasan Gwen Yu 《Review of Accounting Studies》2014,19(4):1281-1308
We examine how cross-country differences in product, capital, and labor market competition, as well as earnings management affect mean reversion in accounting return on assets. Using a sample of 48,465 unique firms from 49 countries, we find that accounting returns mean revert faster in countries where there is more product and capital market competition, as predicted by economic theory. Country differences in labor market competition and earnings management are also related to mean reversion in accounting returns—but the relation varies with firm performance. Country labor competition increases mean reversion when unexpected returns are positive but slows it when unexpected returns are negative. Accounting returns in countries with higher earnings management mean revert more slowly for profitable firms and more rapidly for loss firms. Thus earnings management incentives to slow or speed up mean reversion in accounting returns are accentuated in countries where there is a high propensity for earnings management. Overall, these findings suggest that country factors explain mean reversion in accounting returns and are therefore relevant for firm valuation. 相似文献
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Serafeim Tsoukas Marina‐Eliza Spaliara 《Journal of Business Finance & Accounting》2014,41(1-2):242-269
Financing constraints have been found to play an important role in several aspects of firm behavior, but no attention has been given to their effects on credit ratings. In this paper we analyze a unique and comprehensive data set for US firms rated by Fitch over the period 2001–07. We employ Fitch's market implied ratings derived from bond and equity prices. The analysis finds evidence that financial variables are more important in predicting credit ratings for firms likely to face financing constraints. We conclude that the financing constraint is an important dimension in the market implied ratings process. Our findings are of relevance to managers, investors and rating agencies seeking to understand the mechanism through which financing constraints affect credit ratings. 相似文献
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During the past two decades, more and more companies have volunteered to provide “corporate social responsibility” or “sustainability” reports that include information about their environmental, social, and governance (ESG) policies and performance. Such reporting has come about largely in response to demands by a wide range of stakeholders for information about how the company's operations are affecting society in a number of different ways. But do investors really care about companies' ESG performance and policies? Using data from Bloomberg, the authors provide the first broadly based empirical evidence of investors' interest in ESG data. More specifically, the authors show how interest in the top 20 ESG metrics varies with geographical location (European vs. American), asset class (fixed income vs. equity), and firm type. At the aggregate market level, there is greater interest in environmental and governance information than in “social” information. U.S. investors are more interested than their European counterparts in governance and less interested in environmental information. Equity investors are interested in a wider range of nonfinancial information than are fixed income investors. And whereas sell‐side analysts are primarily interested in greenhouse gas emissions, money managers tend to focus on a broader set of metrics. Similarly, pension funds and hedge funds have shown interest in more nonfinancial metrics than insurance companies. The authors' bottom line: Companies need to recognize the growing market interest in nonfinancial information and ensure that they are providing it according to the specific information needs of market users. 相似文献
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A distinguishing feature of late modern societies is the significant extent to which they are dependent on knowledge for their functioning. Contrary to how knowledge was viewed in pre-modern societies, knowledge now tends to be understood as information, that is as consisting of objectified, commodified, abstract, decontextualized representations. The overabundance of information in late modernity makes the information society full of temptations. It tempts us into thinking that knowledge-as-information is objective and exists independently of human beings; that everything can be reduced into information; and that generating ever more amounts of information will increase the transparency of society and, thus, lead to the rational management of social problems. However, as argued in this paper, the information society is riddled with paradoxes that prevent it from satisfying the temptations it creates. More information may lead to less understanding; more information may undermine trust; and more information may make society less rationally governable. These claims are illustrated with examples from the UK and the USA. 相似文献
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Haridimos Tsoukas 《Technology Analysis & Strategic Management》1989,1(2):205-222
The Programmable Automation Technologies (PATs) constitute a solution to the problems organizations face as regards (i) their search for more efficient modes of handling environment uncertainty, and (ii) improving the diminishing returns of the existing technical paradigm. PATs contribute to the further decrease of the product unit cost and allow for a substantial increase of flexibility in, and control over, the production process. In addition, it is argued here that the introduction of PATs constitutes a strategic decision which is part of a wider organizational innovation strategy, followed by management in their attempt to coalign effectively the organization with its environment.
This strategy includes three interconnected but differentially treated areas: enterpreneurial, engineering, and administrative. Evidence from a case study shows that market competition and internal organizational resource imbalances determine the managerial focus of attention, and the means of rectifying a problematic situation. 相似文献
This strategy includes three interconnected but differentially treated areas: enterpreneurial, engineering, and administrative. Evidence from a case study shows that market competition and internal organizational resource imbalances determine the managerial focus of attention, and the means of rectifying a problematic situation. 相似文献
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More than 120 countries require or permit the use of International Financial Reporting Standards (IFRS) by publicly listed companies on the basis of higher information quality and accounting comparability from IFRS application. However, the empirical evidence about these presumed benefits is often conflicting and fails to distinguish between information quality and comparability. In this paper we examine the effect of mandatory IFRS adoption on firms’ information environment. We find that after mandatory IFRS adoption consensus forecast errors decrease for firms that mandatorily adopt IFRS relative to forecast errors of other firms. We also find decreasing forecast errors for voluntary adopters, but this effect is smaller and not robust. Moreover, we show that the magnitude of the forecast error decrease is associated with the firm‐specific differences between local GAAP and IFRS. This finding suggests that it is IFRS adoption rather than a correlated unobservable factor that is causing forecast errors to decrease. Exploiting individual analyst level data and isolating settings where analysts would benefit more from either increased comparability or higher quality information, we document that the improvement in the information environment is driven both by information and comparability effects. These results suggest that mandatory IFRS adoption has improved the quality of information intermediation in capital markets, and as a result firms’ information environment, by increasing both information quality and accounting comparability. 相似文献