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In this paper, we investigate whether internal control and whether corporate life cycle would affect firm performance in the emerging markets of China.

We use Chen, Dong, Han, and Zhou’s (2013) internal control index on the effectiveness of internal control and Dickinson’s (2011) definition on firm life cycle. We use multivariate regression analysis.

We find that the internal control improves corporate performance. When dividing firm life cycle into five stages: introduction, growth, mature, shake-out and decline, we find that the impacts of internal control on firm performance vary with different stages. The positive impact of internal control on firm performance is more significant in maturity and shake-out stages than other stages.

Our findings would have implications for the regulators and policy makers with regards to the importance of internal control in corporate governance and the effectiveness of implementing standards and guidelines on internal control in public firms.

In addition, our findings on the various roles of internal control at different stages of firm life cycle would help managers and board of directors find more focus in risk management and board monitoring, respectively.

Although the prior literature have examined the link between internal control, information quality and cost of equity capital (Ashbaugh-Skaife, Collins, Kinney, & LaFond, 2009; Ogneva, Subramanyam, & Raghunandan, 2007), our study would be the first attempt to investigate the link between internal control and firm performance during different stages of firm life cycles.

The essential investments in new product development (NPD) made by industrial companies entail effective management of NPD activities. In this context, performance measurement is one of the means that can be employed in the pursuit of effectiveness.

The components of earnings or cash flows have different implications for the assessment of the firm's value. We extend the research for value-relevant fundamentals to examine which financial performance measures convey more information to help investors evaluate the performance and value for firms in different life cycle stages in the high-tech industry. Six financial performance measures are utilized to explain the difference between market value and book value. Cross-sectional data from firms in Taiwanese information electronics industry are used. We find all the six performance measures which are taken from Income Statement and Cash Flow Statement are important value indicators but the relative degrees of value relevance of various performance measures are different across the firm's life cycle stages. The empirical results support that capital markets react to various financial performance measures in different life cycle stages and are reflected on the stock price.

What makes firms innovate their business models? Why do they engage in innovating how they create, deliver, and capture value? And how does such innovation translate into innovation performance? Despite the importance of business model innovation for achieving competitive advantage, existing evidence seems to be confined to firm-level antecedents and pays little attention to the impact of industry structure. This study investigates how different stages of an industry’s life cycle and levels of industry competition affect firms’ business model innovation, and how such innovation translates into innovation performance. Based on a cross-industry sample of 1,242 Austrian firms, we introduce a unique measure for the degree of innovation in a firm’s business model. The results indicate that the degree of business model innovation is highest toward the beginning of an industry life cycle, that is, in the emergent stage. Competitive industry pressures turn out to be negatively related to the degree of business model innovation. Moreover, we find that the degree of a firm’s business model innovation, conditional on it having introduced a new product or process recently, positively influences innovation performance. Our findings contribute to the ongoing dialog on the role of industry structure in business model innovation, and provide implications for the management of business model innovation.

The literature on academic international research teams (AIRTs) has drawn conclusions and made recommendations based on cross-sectional “snapshots” of the research team process – observations made prior to the conclusion of the research project. Several large-scale AIRTs have now evolved through a life cycle including result-related publications. We evaluate and extend the literature using a project life cycle perspective, in which each stage exhibits different challenges and opportunities that influence the quality, reliability and validity of the final research output and the overall viability of the knowledge-creation project. We conclude with recommendations for the effective management of AIRTs and, indeed, perhaps all multinational, globally distributed teams engaged in both basic and applied knowledge creation.

This chapter applies three of the most prominent theories in vocational and career psychology to further illuminate the turnover process. Prevailing theories about attrition have rarely integrated explanatory constructs from vocational research, though career (and job) choices clearly have implications for employee affect and loyalty to a chosen job in a career field. Despite remarkable inroads by new perspectives for explaining turnover, career, and vocational formulations can nonetheless enrich these – and conventional – formulations about why incumbents stay or leave their jobs. To illustrate, vocational theories can help clarify why certain shocks (critical events precipitating thoughts of leaving) drive attrition and what embeds incumbents. In particular, this chapter reviews Super's life-span career theory, Holland's career model, and social cognitive career theory and describes how they can fill in theoretical gaps in the understanding of organizational withdrawal.

Using a life course perspective, this chapter examines four twentieth-century US generations and the influence of generation on women, especially related to education, work life, and retirement. The Baby Boomers constitute the largest of these birth cohorts to move into retirement. A literature review and illustrative examples of trends explore whether the substantial social and legal changes, with accompanying norms and values, that influenced Baby Boomers’ earlier lives continue to characterize their approach to retirement. Social, medical, and legal changes increased access to education, work life, and longer lifespans for many Boomer women. However, substantial socioeconomic and racial inequality must be addressed to expand access to a healthy, satisfying, and financially adequate retirement stage for men and women Boomers and following generations.

This chapter explores the symbolic connections between coming of age liminality and identity-oriented consumption practices in postmodern American culture, specifically among adolescent girls.

Forty-two female participants (ages 20–23) participants were asked to answer the general question of “Who am I?” through creating identity collages and writing accompanying narrative summaries for each of three discrete life stages: early adolescence (past-self), late adolescence (present-self), and adulthood (future-self). Data were analyzed using a hermeneutical approach.

Coming of age in postmodern American consumer culture involves negotiating paradoxical identity tensions through consumption-oriented benchmarks, termed “market-mediated milestones.” Market-mediated milestones represent achievable criteria by which adolescents solidify their uncertain liminal self-concepts.

In contrast to the traditional Van Gennepian conceptualization of rites of passage, market-mediated milestones do not necessarily mark a major transition from one social status to another, nor do they follow clearly defined stages. Market-mediated milestones help adolescents navigate liminality through an organic, nonlinear, and incremental coming of age process.

Rather than traditional cultural institutions (e.g., church, family), the marketplace is becoming the central cultural institution around which adolescent coming of age identity is constructed. As such, organizations have the power to create market-mediated milestones for young people. In doing so, organizations should be mindful of adolescent well-being.

This research marks a turning point in understanding traditional rites of passage in light of postmodern degradation of cultural institutions. The institutions upon which traditional rites of passage are based have changed; therefore, our conceptions of what rites of passage are today should change as well.