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1 – 10 of 140Naomi R. Lamoreaux, Daniel M.G. Raff and Peter Temin
Based on the proceedings of a conference organised by the National Bureau of Economic Research, Chicago, 1999. The Editors demonstrate, through contributions from business…
Abstract
Based on the proceedings of a conference organised by the National Bureau of Economic Research, Chicago, 1999. The Editors demonstrate, through contributions from business historians and economists, that “advanced research” has superceded the neo‐classical theory of the firm.
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Describes how the West Midlands Employment Service has developed a strategy for total quality. Follows the stages an office goes through on their Quality Path using a gardening…
Abstract
Describes how the West Midlands Employment Service has developed a strategy for total quality. Follows the stages an office goes through on their Quality Path using a gardening analogy to describe the process. Acknowledges that TQ initiatives need to continue from the top down, the bottom up and through the middle with every level involved until they become part of business as usual.
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Uta Herbst, Birte Kemmerling and Margaret Ann Neale
While industrial marketers have long bundled their products and services to sell them as packages, to what extent should negotiators also rely on packaging their offers? Clearly…
Abstract
Purpose
While industrial marketers have long bundled their products and services to sell them as packages, to what extent should negotiators also rely on packaging their offers? Clearly, negotiating at a package level can tax the cognitive capacity of the involved parties at some point. Therefore, this study aims to analyze the impact of the number and type of issues that should be negotiated simultaneously to leverage the package strategy efficiently and effectively in multi-issue buyer-seller negotiations.
Design/methodology/approach
The authors conducted and analyzed negotiation simulations with 676 students from 2 public universities.
Findings
The authors’ results suggest that negotiating three out of six issues simultaneously is the least efficient but most effective strategy in multi-issue buyer-seller negotiations. Moreover, they found that bundling distributive and integrative issues is more efficient and effective than only bundling distributive or integrative negotiation issues in a package offer.
Originality/value
Past research has examined the impact of negotiating a package as compared to each issue separately; however, little empirical attention has been directed toward understanding how to apply a package strategy in complex multi-issue negotiations.
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Hyun-Soo Woo, John Berns, Kaushik Mukherjee and Jisun Kim
We examine whether domestic firms react differently to foreign direct investment (FDI) entry modes –mergers and acquisitions (M&A) versus greenfield. Specifically, we ascertain…
Abstract
Purpose
We examine whether domestic firms react differently to foreign direct investment (FDI) entry modes –mergers and acquisitions (M&A) versus greenfield. Specifically, we ascertain whether the entry mode of foreign competition motivates different corporate social responsibility (CSR) responses from domestic firms and when such relationships hold.
Design/methodology/approach
We employ fixed-effects models using 1,331 US firm-year observations for 2015–2018. Furthermore, we examine the interactive effects of industry concentration to examine a key boundary condition.
Findings
Foreign entry via greenfield mode has no effect on domestic firm CSR. Entry through M&A has a significantly positive effect. We attribute these findings to the increased threat to domestic firms from foreign M&A whereas foreign entry through greenfield mode is less threatening as entrants face significantly more challenges in host countries. We identify industry concentration as a boundary condition of our findings. The effect of foreign M&A entries on domestic firms' CSR becomes weaker as industries are more concentrated.
Originality/value
This study offers novel insights on FDI by parsing out different reactions to entry mode by domestic firms. We add to our understanding of CSR as a mechanism to stave off foreign competition, offer insights into a key boundary condition of such actions and demonstrate the robustness of our findings.
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Yu Li, K.S. Redding and En Xie
Given that several publicly announced international merger and acquisition deals have been abandoned in recent years, the purpose of this paper is to present a synthesis of…
Abstract
Purpose
Given that several publicly announced international merger and acquisition deals have been abandoned in recent years, the purpose of this paper is to present a synthesis of influential articles that examine organizational characteristics of cross-border acquisition transactions. The synthesis is framed through general traits and resources, learning and prior acquisition experience, and top-level management and governance attributes. Specifically, the paper conceptualizes key organizational attributes influencing the propensity of cross-border negotiations, and the most common characteristics and post-deal effects by illustrating several case examples from around the world.
Design/methodology/approach
Owing to fairness and integrity principles of the literature survey studies, the paper adopts an exploratory review design to present a synthesis of several influential articles published in strategy, international business and corporate finance journals. Since case method and storytelling are the best qualitative approaches to conceptualizing extant theoretical contributions, a number of case examples—successful, delayed and abandoned—from around the world have been discussed by leveraging the case information from archival sources.
Findings
Drawing on resource-based view, organizational learning, upper echelons and agency theory perspectives, the paper underscores three observations. First, organizational characteristics such as firm age, firm size, ownership structure, slack resources, marketing resources, technological intensity, export intensity and business group affiliation have different impacts on the propensity of publicly announced cross-border deals. Second, firm’s prior acquisition experience and firm’s acquisition experience in the target country have positive or moderating effects on the success of a cross-border merger. Third, top-level management characteristics such as CEO foreign nationality and CEO international career experience, and governance characteristics such as board size, the number of independent directors and directors with overseas experience, have mixed effects on the incidence of cross-border acquisitions.
Practical implications
The paper puts forth several recommendations for top-level managers participating in cross-border acquisition negotiations, such as learning from peers in the same industry, learning from predecessors in the target country and learning from failure negotiations in the same industry and other industries.
Originality/value
Nested within the organizational, international business strategy and corporate finance literature, the paper presents a synthesis of influential publications that study organizational characteristics affecting the propensity of cross-border acquisitions. The cases discussed in this paper are unique examples from around the world.
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Thomas L. Powers and Jocelyn L. Steward
In 1921, Alfred P. Sloan developed an extensive repositioning strategy that was instrumental to General Motors' success over the decades that followed. This paper aims to provide…
Abstract
Purpose
In 1921, Alfred P. Sloan developed an extensive repositioning strategy that was instrumental to General Motors' success over the decades that followed. This paper aims to provide a review of the development and evolution of this strategy and how the later deviation from this strategy was responsible for the company's marketplace decline and eventual bankruptcy.
Design/methodology/approach
The paper reviews the historical 1921 repositioning strategy developed by Sloan and the specific models and price levels that were a part of this strategy. These price levels are then examined over the following decades to determine when and how this strategy was modified over time.
Findings
The findings indicate that although Sloan developed a brilliant strategy at the time of its inception, General Motors has over time deviated from its own historic and successful repositioning strategy. It is demonstrated that the deviation from the 1921 strategy has contributed to the decline in General Motors' market share and their bankruptcy in 2009. In addition, the 1921 strategy is compared to those of successful 21st century competition.
Originality/value
The research provides the reader with a historical review and analysis of the Sloan strategy and provides evidence that a historically successful marketing strategy can be applicable in other time periods for the company that developed it and for other competitors that make use of a similar strategy.
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Andrés Hatum and Andrew M. Pettigrew
This paper examines the processes of organizational adaptation and competitiveness of firms in an emerging economy (Argentina). The empirical focus of this paper concerns the…
Abstract
This paper examines the processes of organizational adaptation and competitiveness of firms in an emerging economy (Argentina). The empirical focus of this paper concerns the determinants of organizational flexibility during the period from 1989 to 1999, when a combination of economic and political change triggered a massive change in the competitive context of indigenous firms. Two companies in the pharmaceutical industry were selected, one that was flexible (Sidus) and one that was less flexible (DER.S.A.). Longitudinal data are supplied to explore the determinants of organizational flexibility in those organizations.
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Nadia Doytch and Ayesha Ashraf
This study aims to test the impact of different institutional quality indicators on two modes of foreign direct investment (FDI)-greenfield investment and cross-border mergers and…
Abstract
Purpose
This study aims to test the impact of different institutional quality indicators on two modes of foreign direct investment (FDI)-greenfield investment and cross-border mergers and acquisitions (M&As) for a sample of 110 countries over the period 2003–2017.
Design/methodology/approach
The authors develop a model of well-known FDI determinants, such as market size and potential, openness, the value of the national currency and the quality of institutions. The authors examine one-by-one five different institutional factors: law and order, investment profile of the host country, control of corruption (anti-corruption); democratic accountability, and government stability, applying a generalized method of moments (GMM) estimator that assures no endogeneity and reverse causality of the key explanatory variables.
Findings
The results point out the fact that fertile institutional conditions for attracting greenfield FDI to developing countries require law and order, good investment conditions and a state of democracy, but not necessarily tight control of corruption and a stable government. On the other hand, the appropriate institutional environment for attracting cross-border M&A sales flows to developing countries includes strong law and order, good investment conditions, strict control of corruption and strong democratic accountability. The results for developed countries show overall smaller importance of institutions as a determinant of both types of FDI.
Originality/value
This is the first study to analyze the differentiated determinants of the two modes of investment. The study holds implications for crafting two different policies for attracting greenfield FDI and M&A sales.
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Hyo Eun Cho, Insik Jeong, Eunmi Kim and Jinwan Cho
In the era of Industry 4.0, international firms are required to respond to more complex and frequent changes in the global market. This study aims to explore the role of…
Abstract
Purpose
In the era of Industry 4.0, international firms are required to respond to more complex and frequent changes in the global market. This study aims to explore the role of organizational agility as a key driver to generate superior performance in international markets in the era of technological transformation and how the degree of such impact is affected by the absorptive capacity of companies.
Design/methodology/approach
This research uses the results of a survey targeting 228 Korean exporters to identify the link between organizational agility and business performance in the global market under different degrees of potential and achieved absorptive capacity in the Industry 4.0 era.
Findings
The empirical results indicate that companies with a high level of organizational agility outperform their counterparts in the global market. The data further revealed that realized absorptive capacity positively moderates the relationship between organizational agility and firm performance when it is achieved, whereas the moderating role of potential absorptive capacity is not significant.
Originality/value
This research contributes to the advancement of international business studies on organizational agility and Industry 4.0 by highlighting the implication of organizational agility on firm performance and the contingent role of absorptive capacity.
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This paper aims to join a growing movement in marketing history to include the voices of consumers in historical research on retail environments. It aims to show that consumer…
Abstract
Purpose
This paper aims to join a growing movement in marketing history to include the voices of consumers in historical research on retail environments. It aims to show that consumer perspectives offer new insights to the emergence and reception of large-scale, pre-planned shopping centers in Australia during the 1960s, and allow one to write a history of this retail form from below, in contrast to the top-down approach that is characteristic of the broader literature on shopping mall development.
Design/methodology/approach
Written testimonies by consumers were gathered using a qualitative online questionnaire. The methodology is related to oral history, in that it seeks to capture the subjective experiences of participants, has the capacity to create new archives, to fill or explain gaps in existing repositories and provide a voice to those frequently lost to the historical record.
Findings
The written testimonies gathered for this project provide an important contribution to the understanding of shopping centers in Australia and, particularly Sydney, during the 1960s, the ways that they were envisaged and used and insights into their reception and success.
Research limitations/implications
As with oral history, written testimony has limitations as a methodology due to its reliance on memory, requiring both sophisticated and cautious readings of the data.
Originality/value
The methodology used in this paper is unique in this context and provides new understandings of Australian retail property development. For current marketers, the historically constituted relationship between people and place offers potential for community targeted promotional campaigns.
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