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Book part
Publication date: 27 June 2017

Rimi Zakaria and Ömer F. Genç

Although primarily treated as two distinct research streams, strategic alliances and mergers and acquisitions together occupy much of the strategic management discourse…

Abstract

Although primarily treated as two distinct research streams, strategic alliances and mergers and acquisitions together occupy much of the strategic management discourse. Alliances, in many cases, end in acquisitions as firms use alliances as intermediate strategic options to eventually acquire a partner. As the discipline of strategy matures and the frequency and the volume of inter-firm cooperation continue to rise, it is imperative to integrate these two research streams for a holistic understanding of the theory of the firm. The purpose of this conceptual piece is threefold. First, we review the extant studies that combine these two governance modes: alliance and acquisitions. Second, drawing on the dominant strategic management theories, we highlight how prior inter-firm alliances inform future acquisitions in terms of (a) pre-combination decisions, (b) post-deal integration processes, (c) alternatives and strategies, and (d) performance outcomes. Finally, in view of the emerging trends and evocative gaps, we offer a conceptual road map to encourage future theoretical development and empirical research.

Article
Publication date: 16 October 2019

Chinho Lin, Hoang Cong Nguyen and Ha Hoang Tran

The purpose of this paper is to synthesize empirical results relating to antecedents influencing differences in performance between business group (BG) affiliated firms and…

Abstract

Purpose

The purpose of this paper is to synthesize empirical results relating to antecedents influencing differences in performance between business group (BG) affiliated firms and independent firms in emerging economies.

Design/methodology/approach

A metanalysis was conducted in this research in which samples were collected, and a continuous data set for figuring the differentiation between group and non-group variables was selected and analyzed. These variables included performance, diversification, ownership characteristics, firm characteristics and group characteristics.

Findings

The research presents a set of hypotheses from a model that shows the influences of factors moderating the differences between the performance of BG affiliates and independent firms, including governance and the kinds of strategic choices which these firms make. Four of the five hypotheses were totally supported, showing the importance of differentiating affiliates’ and independent firms’ performance in terms of ownership concentration, dividend payout, leverage, R&D, as well as diversification and a firm’s age and size.

Originality/value

The study focused its research on an examination of pyramid and cross-holding groups in order to reveal the role of the core firms. It also examines ownership concentration, as well as internal relationships with capital structure, and the effect which these have on firm performance, in order to further understand the relationship among BGs, corporate governance and performance in emerging-market economies.

Details

Baltic Journal of Management, vol. 14 no. 4
Type: Research Article
ISSN: 1746-5265

Keywords

Article
Publication date: 20 October 2023

Joonhwan In, Randy Bradley, Bogdan C. Bichescu and Sumin Han

This study aims to examine the performance implications of an information governance (IG) framework for managing, controlling access to and securing information, focusing on (1…

Abstract

Purpose

This study aims to examine the performance implications of an information governance (IG) framework for managing, controlling access to and securing information, focusing on (1) the performance benefits of an organization's IG orientation and (2) how the configuration of IG orientation and supply chain (SC) strategy type relate to performance outcomes.

Design/methodology/approach

This study leverages multiple secondary sources for US hospitals, serving as the context for the study. It also employs cluster analysis to develop an SC strategy taxonomy, namely sophisticated and delivery-focused SC strategies. The proposed research model is tested using a robust regression to mitigate the influence of outliers and produce more accurate estimates.

Findings

IG orientation is positively associated with financial performance and patient experience, and IG-oriented hospitals with a sophisticated SC strategy realize more financial benefits and achieve better patient care experiences compared to other configurations. Regardless of SC strategy type, IG-oriented hospitals offer better care experiences than non-IG-oriented hospitals.

Practical implications

This paper offers empirical evidence that a hospital's IG orientation and SC strategy jointly affect financial outcomes and patient experience. For hospitals, an organization-wide framework for governing information streamlines both intra- and inter-organizational information flows and improves care delivery throughout a patient's care experience.

Originality/value

This is one of a few studies that empirically examine the performance implications of governance of information in the domain of supply chain management (SCM). This study also develops an SC strategy taxonomy for the healthcare context and offers a springboard for research in service SC strategy.

Details

The International Journal of Logistics Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0957-4093

Keywords

Open Access
Article
Publication date: 7 July 2021

Dominique Santini and Holly Henderson

Purpose: The purpose of this paper is to consolidate knowledge and benchmark the progress being made across the 32 International Federations (IFs) in the Summer Olympic…

Abstract

Purpose: The purpose of this paper is to consolidate knowledge and benchmark the progress being made across the 32 International Federations (IFs) in the Summer Olympic Programme.

Design/methodology/approach: A website content analysis, analytical hierarchy of information, and social media research was conducted to triangulate the barriers and drivers of environmental sustainability (ES) progress. This data was then analysed to empirically substantiate the findings of previous methods by exploring potential drivers of IF ES progress and communication and refining the ranking of IF ES progress.

Results and findings: World Sailing is by far the most advanced IF in terms of ES progress, followed by World Athletics. Only 4 out of 32 have any sort of strategic ES plans. Only golf, surfing, football, sailing, and hockey have received any academic attention. There is a significant lack of understanding of environmental practices across sport, and their drivers/barriers. There is limited accountability with regards to ES progress and activities throughout the Olympic Movement. This has resulted in uneven diffusion of environmental activities.

Originality: This paper is a new contribution to sport management and ES literature. It provides a benchmark of understanding for ES in the Summer Olympic Programme for the first time using a hierarchy of information to ground results. The exploration and comparison of the perspectives of separate sports adds to the paper's originality.

Details

Emerald Open Research, vol. 1 no. 4
Type: Research Article
ISSN: 2631-3952

Keywords

Article
Publication date: 2 January 2023

Fadi Alkaraan, Mohamamd Albahloul and Khaled Hussainey

Companies documents such as annual reports incorporate narratives of repetitive rhetorical strategies as effective mechanisms adopted by companies' boardrooms to promote strategic

Abstract

Purpose

Companies documents such as annual reports incorporate narratives of repetitive rhetorical strategies as effective mechanisms adopted by companies' boardrooms to promote strategic change and strategic choices. These mechanisms can be viewed as persuasive appeals to facilitate boardrooms’ discourses. Despite the contribution of previous research through narrative analysis domains, conceptualization of narrative practices remains a relatively neglected area in the extant accounting literature.

Design/methodology/approach

The analytical framework is rooted in Aristotle's three pillars of rhetorical proofs: ethos (credibility/trustworthiness), pathos (emotion/identification through cultural domains) and logos (reason/rationale) in investigating narrative extracts regarding persuasive appeals adopted by Carillion's board through annual reports that facilitate discourse regarding Carillion’s strategic choices. Further, the authors emphasis on repetitive rhetorical slogan strategies embedded in the annual reports regarding Carillion's acquisitions strategy. We viewed acquisitions narratives as rhetorical communication artefacts and analyzed the repetitive rhetoric slogans in these corporate documents.

Findings

Findings of this study show how persuasive strategies and repetitive slogans trigger the discourses of Carillion's annual reports by drawing on perspectives from upper echelon theory, impression management and communication patterns. Findings reveal that Carillion’ board strategically use repetitive rhetoric slogans to shape optimistic corporate future performance which might be different from the feasible reality. Finally, the authors argue that corporate executives are striving to construct an alternative reality stem from their initial unrealistic aspiration to lead their sector of less controlled market share. Findings of this study have theoretical and managerial implications.

Research limitations/implications

The key limitation of this study lies with the case study as the research methodology. Subjectivity remains inherent in interpreting the findings of this study. Future studies may adopt or adapt the authors’ analytical framework to examine other domains underpinning corporate reporting practices.

Practical implications

The findings of this study have practical implications for boardrooms and policymakers. Findings of this study have theoretical and managerial implications. The level of optimism has its impact on the mood of financial decision-makers, and when there is a high level of optimism, managers may consider making more investment decisions and therefore making many acquisitions. Managerial overconfidence has been widely documented in the literature. Overconfident managers systematically overestimate the probability of good outcomes (and correspondingly underestimate the probability of bad outcomes) resulting from their actions.

Social implications

Managerial overconfidence refers to overestimation of managers' own abilities and outcomes relating to actions which are under their control. Executives believed that they have ultimate control over outcomes, which leads them to underestimate the probability of failure generally. According to self-attribution bias, many people tend to excessively credit their own skills for good results and overly credit external factors for bad outcomes.

Originality/value

The study explores the repetitive rhetorical slogan strategies embedded in the annual reports regarding Carillion's acquisitions strategy. Further, the study reveals how Carillion's board engaged through the early report with discourse and repetitive slogans to maintain their legitimacy. Findings reveal that Carillion’s board strategically uses repetitive rhetoric slogans to shape optimistic corporate future performance, which might be different from the feasible reality. Finally, the authors argue that corporate executives are striving to construct an alternative reality stem from their initial unrealistic aspiration to lead their sector of less controlled market share.

Article
Publication date: 12 June 2019

B. Shine Cho, Juye Lee, Wonkang Lee and Hyosang Min

The purpose of this paper is to examine the management strategy changes of a government-hosted festival from the government’s perspective based on Ansell and Gash’s (2008…

Abstract

Purpose

The purpose of this paper is to examine the management strategy changes of a government-hosted festival from the government’s perspective based on Ansell and Gash’s (2008) definitive criteria of collaborative governance.

Design/methodology/approach

This is a longitudinal case study of Hi Seoul Festival (HSF) in South Korea from 2003 to 2013. First, a detailed description of HSF management strategy change over time is presented through an analysis of internal government documents. Then, factors influencing management strategy changes are investigated through interviews with governmental and professional stakeholders.

Findings

The content analysis of the internal government documents reveals that HSF’s management strategy changed between collaborative governance and contracting out multiple times. The follow-up interviews then found that the prehistory experiences in managing festivals, the change of festival goals, and political leverages influenced the management strategy changes.

Originality/value

The government is one of the key stakeholders of festivals, which sometimes hosts and manages its own festivals. However, how a government manages its own festival is rarely studied. This study would add new insights into the studies of government-hosted festivals.

Details

International Journal of Event and Festival Management, vol. 10 no. 2
Type: Research Article
ISSN: 1758-2954

Keywords

Article
Publication date: 21 September 2015

Jenny Hillemann and Alain Verbeke

– This paper aims to apply internalization theory in the context of economic efficiency-driven institutions interacting with societal institutions that pursue broader goals.

Abstract

Purpose

This paper aims to apply internalization theory in the context of economic efficiency-driven institutions interacting with societal institutions that pursue broader goals.

Design/methodology/approach

The analysis builds upon Buckley and Boddewyn’s (2015, this issue) recent work on the perceived need for multinational enterprises (MNEs) to supply public goods outside of their sphere of technical competences. This paper proposes a more restrictive approach: external markets will only be internalized if, on balance, the efficiency benefits of internalization outweigh its costs at the firm level, in line with orthodox internalization theory.

Findings

MNEs replacing the activities of failing (or even absent) public sector institutions is a business phenomenon commonly observed in less developed economies. However, positive distributional effects and societal externalities without the required efficiency benefits at the firm level are insufficient for MNEs’ supply to occur.

Practical implications

Managerial decisions in the internalization sphere will be guided by the transactional characteristics of the MNEs’ firm-specific advantages (FSAs) and the requisite complementary resources held by host country economic actors. Internalization theory thinking suggests applying various, specific principles to assess in a comparative institutional fashion whether “diversification” into supplying public goods will serve the MNEs’ efficiency goals, namely, the “cost of entry” test, the “better-off” test and the “value capture” test.

Originality/value

Internalization theory provides a solid, efficiency-driven rationale to guide MNE choices on which activities the firm will conduct internally. The nature of the MNEs FSAs and the most efficient, feasible option to bundle firm-level resources and locally held resources in host environments are critical to these choices.

Details

The Multinational Business Review, vol. 23 no. 3
Type: Research Article
ISSN: 1525-383X

Keywords

Book part
Publication date: 22 June 2011

Ajai S. Gaur, Vikas Kumar and Ravi Sarathy

Liability of foreignness (LOF) is a well-known concept in international business domain. At the core of LOF is the insight that firms face social and economic costs when they…

Abstract

Liability of foreignness (LOF) is a well-known concept in international business domain. At the core of LOF is the insight that firms face social and economic costs when they operate in foreign markets. Extant literature acknowledges that the ability of firms to overcome LOF in host locations varies; however, it does not discuss the possibility that the LOF itself could vary for different firms at the same location. We extend this literature by examining how a firm's interaction with the host and the home country environments affect the LOF that it faces in foreign markets.

We argue that there are two sources of LOF – environmentally derived LOF and firm-based LOF. The environmentally derived LOF has its source in home and host country environments. Firm-based LOF, on the contrary, derives from firm-specific characteristics including ownership structure, firm-specific resources, learning and network-based linkages such as affiliation to a business group. Furthermore, we argue that both the environmentally derived and the firm-based LOF are different for emerging market (EM) firms as compared to developed market (DM) firms. We develop testable propositions about how environment-specific and firm-specific factors affect LOF and suggest directions for future research.

Details

Dynamics of Globalization: Location-Specific Advantages or Liabilities of Foreignness?
Type: Book
ISBN: 978-0-85724-991-3

Article
Publication date: 1 October 2005

Gabriel Hawawini

Aims to explore the future challenges and opportunities for business schools.

8147

Abstract

Purpose

Aims to explore the future challenges and opportunities for business schools.

Design/methodology/approach

Reviews the existing situation for business schools, and draws inferences for the future.

Findings

In rapidly developing markets the traditional business school model will most likely survive, assuming that it can be scaled up successfully to meet strong but standard demand for management education. In mature countries it will have to evolve to satisfy a more complex environment with peculiar demands from both students and their employers.

Originality/value

In mature markets, top business schools will either transform themselves to meet those demands or cede some of the terrain to alternative providers of business education.

Details

Journal of Management Development, vol. 24 no. 9
Type: Research Article
ISSN: 0262-1711

Keywords

Article
Publication date: 14 September 2022

Hamza Smajić, Ramo Palalić and Nisar Ahmad

The study provides the emergence and evolution of the socioemotional wealth (SEW) concept in the family business field from 2007 (the inception date) until 2021. To provide a…

Abstract

Purpose

The study provides the emergence and evolution of the socioemotional wealth (SEW) concept in the family business field from 2007 (the inception date) until 2021. To provide a better overview of this notion, the study unfolds a deeper understanding of this term throughout the systematic literature review (SLR).

Design/methodology/approach

The study applies a systematic literature review (SLR) by analyzing the sample of 185SEW articles extracted from the Scopus database. To identify all relevant studies, the article selection process was carefully designed and divided into two phases with clear steps: identification of studies via databases and identification of studies via previous studies' reference lists. Selected studies were analyzed using the Bibliometrix R-tool, resulting in an analysis of the evolution of the trends in the SEW literature, citation analysis, and network analysis. Finally, this SLR included the content analysis of the 25 most-cited SEW articles.

Findings

The study provides a relevant and comprehensive overview facilitating empirical and theoretical research in this field and paving the way to develop new themes. The bottom line of the important findings is that the SEW concept is relatively new, alluding to a wealthy venue for future works. Other results and implications are discussed on the family business and SEW theme. Additionally, the study provides suggestions which could be used for future works in this area.

Originality/value

This is the first article related to the SEW concept in the family business. It portrays a clear picture of this field, providing relevant information on what has been done, as well as what the future possibilities are that might bode the future horizons in family businesses.

Details

Journal of Family Business Management, vol. 13 no. 4
Type: Research Article
ISSN: 2043-6238

Keywords

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