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The purpose of this paper is to investigate whether transformational leadership behavior is a function of the leader’s own self-respect and his/her evaluation of being capable, significant, and worthy (self-esteem). It is also tested whether transformational leadership is related to innovation success.

Data were collected from 411 entrepreneurs and managing directors of small- and medium-sized Austrian companies. The proposed hypotheses were tested using structural equation modeling (PLS).

A strong and significant relationship between self-esteem and transformational leadership was found. Furthermore, data analyses revealed that transformational leadership has a positive impact on innovation success.

This study reveals the important but heretofore neglected role of self-esteem, defined as a manager’s overall self-evaluation of his/her competences, as an important predictor of transformational leadership.

Increasing chances of firm survival requires enduring entrepreneurship or the ability to balance competing demands for exploration and exploitation. We developed how acquisitions can provide needed disruption to change a firm’s dominant orientation toward exploration or exploitation or enable a continued focus on a firm’s dominant orientation. The result is a new typology for acquisition integration associated with different pre- and post-acquisition characteristics. For example, a firm with an exploitation orientation faces different integration challenges in acquiring targets with an exploration or exploitation orientation. We also distinguished between human and task integration to enable more nuanced integration decisions that help to reconcile conflicting findings on acquisition integration decisions. Implications for management research and practice were discussed.

In this chapter we put projects at the centre stage of firms' activities – i.e. product and process innovation, strategy formulation and implementation, capability building and learning, organizational structure and design, and systems integration (the capability to combine diverse knowledge bases and physical components into functioning systems). Based on the findings of a 10-year research programme into firms producing high-value capital goods – known as complex products and systems (CoPS) – we draw out conceptual insights about project organizing that can inform and contribute to the development and reformulation of more universally applicable formal theories of strategic management and organization.

The authors investigate the implications of environmental, social and governance (ESG) practices of firms for the pricing of their credit default swaps (CDS). In doing so, the authors compare European and US firms and consider nonlinear and indirect effects. This complements the previous literature focusing on linear and direct effects using bond yields and credit ratings of US firms.

For this purpose, the authors apply fixed effects regressions on a comprehensive panel data set of US and European firms. Further, nonlinear and indirect effects are investigated utilizing quantile regressions and a path analysis.

The evidence indicates that higher ESG ratings mitigate credit risks of US and European firms from 2007 to 2019. The risk mitigation effect is U-shaped across ESG quantiles, which is consistent with opposing effects of growing stakeholder influence capacity and diminishing marginal returns on ESG investments. The authors further reveal a mediating indirect volatility channel that substantially amplifies the direct effect of ESG on credit risk. A one-standard-deviation improvement in ESG ratings is estimated to reduce CDS spreads of low, medium and high ESG firms by approximately 4%, 8% and 3%, respectively.

This is the first study to examine whether credit markets reflect regional differences between Europe and the US with regard to the ESG-CDS-relationship. In addition, this paper contributes to the existing literature by investigating differences in the response of CDS spreads across ESG quantiles and to study potential indirect channels connecting ESG and CDS spreads using structural credit risk variables.