Independent director death and CEO acquisitiveness: Build an empire or pursue a quiet life?

Research summary : This study examines the relationship between an independent director's death and CEO acquisitiveness. Using a sample of large U.S. public firms, we find that CEOs who have experienced an independent director's death undertake fewer acquisitions in the post‐director death period, in particular fewer large acquisitions. Our findings are consistent with the prediction of posttraumatic growth theory that mortality awareness can induce CEOs to reevaluate their life priorities and reduce the importance of extrinsic goals in their decision making. This study contributes to the strategic leadership literature by highlighting the influence of the death of CEOs ' social peers on CEOs ' strategic decisions . Managerial summary : Does the death of CEOs ' social peers influence CEOs ' strategic decisions? We find that CEOs who have experienced an independent director's death engage in fewer acquisitions in the post‐director death period, in particular fewer large acquisitions. One likely explanation for our findings is that the death of an independent director may heighten CEOs ' mortality awareness, lead the CEOs to pursue a quieter life, and weaken their propensities for undertaking decisions (i.e., acquisitions) that increase their compensation and social status . Copyright © 2016 John Wiley & Sons, Ltd.     

The governance of coastal tourism: unravelling the layers of complexity at Smiths Beach,Western Australia

Fuelled by rapid population growth, coastal regions are increasingly vulnerable to the dynamic mix of coastal uses. In Western Australia, for instance, the issues associated with infrastructure shortcomings and increased population pressures have led to a spate of interest in the development of tourism and residential proposals along the coast. Many of these have emerged as hotly debated sociopolitical contests, thus raising questions in relation to the governance of coastal tourism. It is the intent of this paper to provide empirical insights into the practical nature of coastal tourism governance, using the Smiths Beach coastal tourism and residential development as a case study. An exploratory case approach is adopted so as to understand why this particular coastal tourism development has been surrounded by so much criticism and controversy. The exploration of the attitudes, experiences and views of various stakeholders have illustrated the inherent flavour of this case, with the issues of power-politics, divergent interests and agendas and lack of community consultation identified as some of the key aspects shaping the debate. The case therefore provides an ideal avenue to reveal the complex nature and key issue drivers associated with the governance of coastal tourism.     

经济低迷为营销商制定新规则

目前经济低迷的性质，以及营销和销售环境从2001—2002年的衰退以来所经历的变化的性质似乎表明，遵循低迷时期老一套的生存法则的人这次是在冒险，把赌注押在了错误的市场、客户、广告手段或销售方法上面。     

How Entrepreneurs Deal with Ethical Challenges – An Application of the Business Ethics Synergy Star Technique

Entrepreneurs typically live with the ever-present threat of business failure arising from limited financial resources and aggressive competition in the marketplace. Under these circumstances, conflicting priorities arise and the entrepreneur is thus faced with certain dilemmas. In seeking to resolve these, entrepreneurs must often rely on their own judgment to determine “what is right”. There is thus a need for a technique to assist them decide on a course of action when no precedent or obvious solution exists. This research paper examines how entrepreneurs experience and deal with these dilemmas. The research is based on interviews with seven entrepreneurs in established service-oriented ventures, which gave rise to 26 dilemmas. These dilemmas were analyzed by making use of the Synergy Star technique, which is introduced here as a tool that is useful in defining any dilemma, isolating the ethical component, and resolving the dilemma in a way that is congruent with the entrepreneur’s personal world-view. Dr. David Robinson lectures in Entrepreneurship and Business Ethics at Queensland University of Technology and Bond University in Australia and is Visiting Professor at Shanghai Jiao Tong University in China. Himself an entrepreneur and director of companies with varied business interests, he holds a Master of Science from Brunel University, London, an MBA from Newport University, California and a Ph.D. from Rhodes University, South Africa. Dave is a past surfing and lifesaving champion and is known around the world as ‘Dr. Dave - the Surfing Professor’. Per Davidsson is Professor of Entrepreneurship and Director of Research at Queensland University of Technology, Australia and Professor of Entrepreneurship at the Jonkoping International Business School in Sweden. Hennie van der Mescht is Associate Professor and Head of the Education Department at Rhodes University, South Africa. Philip Court is Associate Professor and Head of the Management Department at Rhodes University, South Africa.     

在最能影响消费者决策的时候出现

消费者正在摆脱原有的“漏斗式”选购法,开始改变他们研究和购买商品的方式。如果你的营销方式还没有做出相应的改变,现在正值其时。     

Private transaction costs of participation in water quality improvement programs for Australia's Great Barrier Reef: Extent,causes and policy implications

The direct private cost to landholders of participating in programs that result in improved farming activities (IFAs) is generally well understood. However, the private indirect or transaction costs, such as the cost of a landholder's time and the expense to learn about IFAs and apply for assistance to implement these changes on‐farm, are not so well understood. Where these have been studied, they have been shown to be extensive. We assess the extent and causes of private transaction costs incurred by sugarcane growers participating in the Australian Government's Reef Rescue scheme which pays farmers to adopt environmentally beneficial farm management practices. Utilising a mail‐out‐mail‐back survey of 110 growers, we found that the average total transaction cost per farm of participating in the program was AU$8389. The average total transaction costs per farm as a percentage of the average funding provided was 38 per cent. We also assessed which type of improved farming activity (soil, nutrient, pest or water management) generated the greatest transaction costs and how landholder characteristics such as bounded rationality, opportunism and social connection impacted on the extent of transaction costs.     

Bringing customers into the boardroom

Misguided marketing strategies have destroyed more shareholder value than shoddy accounting or shady fiscal practices. Yet marketing functions typically reside deep in the organization, far from the executive suite and boardroom, and they are often poorly aligned with corporate strategy. Boards of directors, it would seem, have compelling reasons to monitor their companies' marketing activities. The authors argue that boards lack a clear understanding of how their companies are meeting customers' needs and how their marketing strategies drive (or often fail to drive) top-line growth. To help remedy that problem, they've devised a "marketing dashboard," a series of management reports that could give the board this critical knowledge. The dashboard has three parts, each of which the board should review regularly. The first part tracks the company's main business drivers--those business conditions that, when manipulated or otherwise changed, will directly and predictably affect the company's performance. The second part describes the specific innovations in a pipeline of growth ideas that will allow the company to reach its short- and long-term revenue goals. And the third part provides an overview of the company's marketing skill set so the board can determine not only if the company has enough marketing talent but also if it has the right marketing talent. Unlike isolated measures of marketing performance that are often insufficient, irrelevant, or misleading, the dashboard allows the board to quickly and routinely assess the effectiveness of its company's marketing strategies. Armed with a clear understanding of marketing's role and performance, the board can expose inadequate marketing campaigns, direct management to address the problem, and monitor progress.