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Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

We investigate the relationship among the Dark Triad personality traits, ethical fading, and unethical behavior. Our findings suggest that Machiavellianism and psychopathy have a significant relationship with ethical fading such that individuals with high Machiavellianism are more likely to exhibit ethical fading, and individuals with high psychopathy are less likely to exhibit ethical fading. We do not find a significant association between narcissism and ethical fading. In the supplemental analyses, we investigate whether ethical fading leads to more unethical behavior (i.e., fraudulent reporting) and if it mediates the effect of Machiavellianism and psychopathy on unethical behavior. Our findings suggest that, while all the dark traits have a direct effect on unethical behavior, only Machiavellianism has an indirect effect that flows through ethical fading.

The PMI Risk Framework (PRF) is introduced as a guide to classifying and identifying risks which can be the source of post-merger integration (PMI) failure — commonly referred to as “culture clash.” To provide managers with actionably insight, PRF dissects PMI risk into specific relationship-oriented phenomena, critical to outcomes and which should be addressed during PMI. This framework is a conceptual and theory-grounded integration of numerous perspectives, such as organizational psychology, group dynamics, social networks, transformational change, and nonlinear dynamics. These concepts are unified and can be acted upon by integration managers. Literary resources for further exploration into the underlying aspects of the framework are provided. The PRF places emphasis on critical facets of PMI, particularly those which are relational in nature, pose an exceptionally high degree of risk, and are recurrent sources of PMI failure. The chapter delves into relationship-oriented points of failure that managers face when overseeing PMI by introducing a relationship-based, PMI risk framework. Managers are often not fully cognizant of these risks, thus fail to manage them judiciously. These risks do not naturally abide by common scholarly classifications and cross disciplinary boundaries; they do not go unrecognized by scholars, but until the introduction of PRF the risks have not been assimilated into a unifying framework. This chapter presents a model of PMI risk by differentiating and specifying numerous types of underlying human-relationship-oriented risks, rather than considering PMI cultural conflict as a monolithic construct.

In this chapter, we explore the importance of morality in groups. We draw from decades of research from multiple perspectives, including psychology, neuroscience, philosophy, and organizational science, to illustrate the range of ways that morality influences social attitudes and group behavior. After synthesizing the literature, we identify promising directions for business ethics scholars to pursue. We specifically call for greater research on morality at the meso, or group, level of analysis and encourage studies examining the complex relationship between moral emotions and the social environment. We ultimately hope that this work will provide new insights for managing moral behavior in groups and society.

Stakeholders often engage in actions aimed at either benefitting or punishing firms for their behaviour. Such behaviours can have very serious implications for various types of firm performance, including financial performance. Though one might expect that the investigation of possible precursors of such “stakeholder action” would be a priority of researchers in stakeholder theory, to date research within the stakeholder literature directed towards understanding stakeholder behaviour has been somewhat scarce. In this chapter, I present common themes and assumptions that prevail in the existing research on stakeholder action, identify certain important questions concerning such assumptions and suggest avenues for future research on stakeholder behaviour.

A corporate entrepreneurship (CE) strategy implies that a firm’s strategic intent is to continuously leverage entrepreneurial opportunities for growth- and advantage-seeking purposes. CE has gained greater research attention with a focus on the factors that influence an organization’s willingness to initiate and sustain a CE strategy. In the current disruptive age, firms acknowledge the importance of CE (also referred to as corporate innovation) as the critical element for sustained competitive advantage in the global economy. Yet, so many organizations struggle with the actual implementation of an innovative strategy. There are key challenges that must be addressed by today’s corporate entrepreneurial leaders in this age of disruptive innovation. These include framing the innovation, developing the internal architecture, coordinating the managerial levels, integrating design thinking, recognizing the grief associated with project failure, and demanding ethical standards. As research on corporate innovative activity has evolved, numerous researchers have acknowledged the importance of these leadership activities to enhance the effectiveness of corporate entrepreneurial activity. In this chapter, the authors discuss these critical elements confronting corporate entrepreneurial leaders.

The paper explores the impact of mergers and acquisitions (M&As) on technological performance. We posit that the post‐acquisition technological performance is positively related to the technological combination potential of the merging firms and to their ability to realize this potential. In turn, the combination potential depends on M&As motives aimed at complementing firms’ technological resources, whereas firms’ ability to realize their potential is significantly influenced by their prior experience in M&As and technology integration.