Long Range Planning最新文献_第9页

How cross-cultural experience shapes emerging-market multinationals’ domestic performance after a cross-border acquisition 跨文化经验如何塑造新兴市场跨国公司跨境收购后的国内绩效

IF 8.5 2区管理学

Long Range Planning Pub Date : 2023-08-01 DOI: 10.1016/j.lrp.2023.102342

Guus Hendriks , Arjen H.L. Slangen , Pursey P.M.A.R. Heugens

{"title":"How cross-cultural experience shapes emerging-market multinationals’ domestic performance after a cross-border acquisition","authors":"Guus Hendriks , Arjen H.L. Slangen , Pursey P.M.A.R. Heugens","doi":"10.1016/j.lrp.2023.102342","DOIUrl":"10.1016/j.lrp.2023.102342","url":null,"abstract":"<div><p>Although many cross-border acquisitions (CBAs) by emerging-market multinationals (EMMs) are aimed at improving domestic operating performance, the conditions under which such CBAs are the most effective have been underexplored. Drawing on global strategy research on resource recombination and organizational learning, we propose that the effectiveness of domestic-improvement oriented CBAs crucially depends on EMMs' cross-cultural experience, as EMMs apply different forms of resource recombination to such CBAs as a function of that experience, with varying degrees of success. Specifically, we hypothesize a U-shaped relationship between an EMM's cross-cultural experience and the domestic productivity growth it realizes from a domestic-improvement oriented CBA, and that this relationship is steeper for acquisitions involving more intensive integration or relatively larger targets but flatter for acquirers from countries with larger institutional voids. Measuring both the depth and breadth of firms' cross-cultural experience, we obtain support for our hypotheses in a sample of 423 domestic-improvement oriented CBAs by manufacturing firms from 13 emerging economies, thereby shedding light on what determines the effectiveness of such CBAs.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 4","pages":"Article 102342"},"PeriodicalIF":8.5,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45159337","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Reaching beyond the acquirer-target dyad in M&A – Linkages to external knowledge sources and target firm valuation 在并购中超越收购方目标二元体——与外部知识来源和目标公司估值的联系

IF 8.5 2区管理学

Long Range Planning Pub Date : 2023-06-01 DOI: 10.1016/j.lrp.2023.102321

Christoph Grimpe , Katrin Hussinger , Wolfgang Sofka

{"title":"Reaching beyond the acquirer-target dyad in M&A – Linkages to external knowledge sources and target firm valuation","authors":"Christoph Grimpe , Katrin Hussinger , Wolfgang Sofka","doi":"10.1016/j.lrp.2023.102321","DOIUrl":"10.1016/j.lrp.2023.102321","url":null,"abstract":"<div><p>Access to unique knowledge of a target firm is the strategic rationale for many firm acquisitions with the expectation of improving the acquirer's innovation performance. We argue that the acquisition price reflects opportunities for value creation through innovation and investigate whether acquirers pay not just for the target firm's knowledge but also for the opportunity to access localized knowledge when targets are embedded in the knowledge flows of their region. Accordingly, we integrate embeddedness theory with literature on the expectations for knowledge-based value creation in M&A. We hypothesize that target firms that are highly embedded in local knowledge flows have higher acquisition prices. Using data on 520 technology-oriented firm acquisitions in Europe between 2001 and 2010, we find that the acquisition price increases with the target firm's local embeddedness. The effects are weaker when an acquirer's knowledge base is closely related to the localized knowledge and stronger when the target's knowledge base is closely related to the localized knowledge, suggesting that local embeddedness conditions the ability of acquirer and target to absorb localized knowledge.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 3","pages":"Article 102321"},"PeriodicalIF":8.5,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41256720","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The competitive effects of financial and fiscal institutional arbitrage opportunities: Evidence from cross-border M&AS 金融和财政制度套利机会的竞争效应:来自跨国并购的证据

IF 8.5 2区管理学

Long Range Planning Pub Date : 2023-06-01 DOI: 10.1016/j.lrp.2023.102324

Valentina Fani , Dimitrija Kalanoski , Olivier Bertrand

{"title":"The competitive effects of financial and fiscal institutional arbitrage opportunities: Evidence from cross-border M&AS","authors":"Valentina Fani , Dimitrija Kalanoski , Olivier Bertrand","doi":"10.1016/j.lrp.2023.102324","DOIUrl":"https://doi.org/10.1016/j.lrp.2023.102324","url":null,"abstract":"<div><p>This study investigates whether and when differences in the financial and fiscal regulatory systems between the countries of acquirers and targets that engage in cross-border M&As influence rivals' corporate responses. Drawing on the institutional arbitrage and competitive dynamics logics, we argue that cross-border M&As that provide opportunities for financial institutional gains for the targets and fiscal institutional gains for the acquirers pose a threat to the rivals and hence provoke an increase in the number of rivals' corporate responses. Additionally, we argue that the effect of cross-border M&As providing financial and fiscal institutional arbitrage opportunities on the number of rivals' corporate responses gets stronger with rivals' awareness, motivation, and capability to respond. An analysis of a unique dataset of rivals’ corporate activities before and after large horizontal cross-border M&As of their competitors in the manufacturing industry between 1999 and 2014 provides support for our main theoretical arguments and provides some contingent considerations.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 3","pages":"Article 102324"},"PeriodicalIF":8.5,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49754660","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Firm failure and the exploration/exploitation dilemma: The role of firm life cycle 企业失败与探索/开发困境:企业生命周期的作用

IF 8.5 2区管理学

Long Range Planning Pub Date : 2023-06-01 DOI: 10.1016/j.lrp.2023.102307

Mehrsa Ehsani, Oleksiy Osiyevskyy

{"title":"Firm failure and the exploration/exploitation dilemma: The role of firm life cycle","authors":"Mehrsa Ehsani, Oleksiy Osiyevskyy","doi":"10.1016/j.lrp.2023.102307","DOIUrl":"https://doi.org/10.1016/j.lrp.2023.102307","url":null,"abstract":"<div><p>The survival and prosperity of firms are contingent on their ability to constantly adjust to the state and dynamics of their environments by swiftly embracing the right combination of generic exploration and exploitation strategies. We propose a novel theoretical model linking the pursuit of exploration and exploitation approaches with firm failure in the medium term, stressing the role of the firm life cycle that substantively shapes the underlying relationships. The model is empirically tested using the firm-level data from a large panel dataset from 1988 to 2019 across multiple industries, revealing the moderating impact of the five stages of the firm life cycle (and the transition period between them) on the relation between exploration/exploitation strategies and the likelihood of firm failure. The findings indicate that exploration has a significant negative impact on the likelihood of firm failure during the growth, maturity, and transition stages; however, it significantly increases the likelihood of firm failure in the introduction, shakeout, and decline stages. Exploitation, on the other hand, has a significant negative impact on the likelihood of firm failure in the introduction and maturity stages yet amplifies the probability of failure in the transition phase.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 3","pages":"Article 102307"},"PeriodicalIF":8.5,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49760367","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The role of intuiting practices in navigating strategic opportunities 直觉实践在把握战略机遇中的作用

IF 8.5 2区管理学

Long Range Planning Pub Date : 2023-06-01 DOI: 10.1016/j.lrp.2023.102323

Christian Walsh , Paul Knott , Jamie Collins

{"title":"The role of intuiting practices in navigating strategic opportunities","authors":"Christian Walsh , Paul Knott , Jamie Collins","doi":"10.1016/j.lrp.2023.102323","DOIUrl":"10.1016/j.lrp.2023.102323","url":null,"abstract":"<div><p>This study addresses the question of how strategists use intuiting practices in the process of sensing, navigating and creating strategic opportunities. Existing literature highlights the significant role and nature of intuition in strategy from a theoretical cognitive perspective, but does not examine intuition empirically as a practice utilised by strategists. We undertook a two-year longitudinal study of seven strategists in high-technology firms as they attempted to progress new strategic opportunities. Using abductive analysis of the resulting data, we found that when navigating novel opportunities the practitioners’ intuiting practices were predominantly based on unfolding creative and social types of intuition, as opposed to a rapid expertise-based intuition, previously thought to be the dominant type. We extend existing typologies to propose a dynamic cyclic model of unfolding intuiting practice in the opportunity navigation process. This model draws on dual process theory and includes phases of intimation, investigation, validation and incubation. We found that strategists cycle through these different phases in order to navigate novel spaces, leading to continuation or abandonment of the opportunity development.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 3","pages":"Article 102323"},"PeriodicalIF":8.5,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41680666","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Behavioral antecedents of firm's ego-network competitiveness: The case of the global pharmaceuticals 企业自我-网络竞争力的行为前因:以全球制药业为例

IF 8.5 2区管理学

Long Range Planning Pub Date : 2023-06-01 DOI: 10.1016/j.lrp.2023.102308

Elio Shijaku , Paavo Ritala

{"title":"Behavioral antecedents of firm's ego-network competitiveness: The case of the global pharmaceuticals","authors":"Elio Shijaku , Paavo Ritala","doi":"10.1016/j.lrp.2023.102308","DOIUrl":"10.1016/j.lrp.2023.102308","url":null,"abstract":"<div><p>Intra-industry alliance networks provide a firm with both collaborative opportunities and competitive challenges. When forming alliance networks within a particular industry, firms need to consider to which extent they compete in the same markets with their alliance network partners, who are also their industry peers. However, previous literature has not exhaustively addressed the antecedents of a firm's competitive behavior with their alliance network peers – i.e., a phenomenon we label ego-network competitiveness. This study draws on extensive panel data from the top global pharmaceuticals to examine this question. Combining behavioral and network perspectives, we test two competing hypotheses on how ego-network competitiveness varies relative to performance feedback and whether structural prominence moderates this relationship. Our results show that performance above and below aspirations increases ego-network competitiveness through high-intensity responses (i.e., problemistic and slack search). We also find that performance above aspirations increases ego-network competitiveness for firms with high structural prominence.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 3","pages":"Article 102308"},"PeriodicalIF":8.5,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48958827","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Open strategizing on social media: A process model of emotional mechanisms and outcomes from un-orchestrated participation 社交媒体上的开放策略:非协调参与的情感机制和结果的过程模型

IF 8.5 2区管理学

Long Range Planning Pub Date : 2023-06-01 DOI: 10.1016/j.lrp.2023.102320

Eva-Lena Lundgren-Henriksson , Virpi Sorsa

引用次数: 0

Knowledge network structure and middle management involvement as determinants of TMT members’ ambidexterity: A multilevel analysis 知识网络结构和中层管理人员参与是企业管理团队成员双元性的决定因素:一个多层次的分析

IF 8.5 2区管理学

Long Range Planning Pub Date : 2023-06-01 DOI: 10.1016/j.lrp.2023.102318

Anabel Fernández-Mesa , Ronald Clarke , Ana García-Granero , Justo Herrera , Justin J.P. Jansen

引用次数: 1

Opening up corporate political strategizing – An institutional work approach 开放企业政治战略——一种制度性的工作方法

IF 8.5 2区管理学

Long Range Planning Pub Date : 2023-06-01 DOI: 10.1016/j.lrp.2023.102329

Andrew Barron

{"title":"Opening up corporate political strategizing – An institutional work approach","authors":"Andrew Barron","doi":"10.1016/j.lrp.2023.102329","DOIUrl":"10.1016/j.lrp.2023.102329","url":null,"abstract":"<div><p>I apply an institutional lens to explore how strategists in a pharmaceuticals firm successfully include managers in the formulation and implementation of corporate political activity (CPA). I depict these strategists as institutional carriers who face mindset-, skills-, and commitment-related barriers when importing new industry norms favoring inclusive CPA processes into an organizational setting where exclusive strategic practices prevail. They reduce barriers resulting from this confrontation of institutional logics by enacting specific instances of institutional work. Strategists' ability to perform cultural and technical work aimed at shifting managers’ perceptions about CPA and empowering them to design and conduct new forms of political action is facilitated by their expertise and social capital. In the absence of hierarchical authority, they draw on personality traits – chiefly, their perseverance – to enact more challenging political work aimed at reconfiguring organizational rules and increasing commitment to CPA. I stretch understandings of open strategy by exploring the inclusion of managers in a complex and uncertain strategic activity previously overlooked, and providing new insights into how strategists manage individual-level constraints to open strategizing. I build on CPA literature by opening up the black box of corporate political strategizing and exposing political strategists as internal lobbyists who drive strategic change in firms.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 3","pages":"Article 102329"},"PeriodicalIF":8.5,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49381222","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Letting go or pushing forward: Director death and firm risk-taking 放手还是前进:导演的死亡和坚定的冒险

IF 8.5 2区管理学

Long Range Planning Pub Date : 2023-06-01 DOI: 10.1016/j.lrp.2023.102322

David H. Weng , Kwang-Ho Kim

引用次数: 1