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Review of Managerial Science最新文献

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Why do firms fail? A new view on bankruptcy from the angle of top management team heterogeneity 公司为什么会倒闭？从高层管理团队异质性角度看破产的新观点
IF 5.5 3区 管理学
Review of Managerial Science Pub Date : 2023-12-07 DOI: 10.1007/s11846-023-00716-y
Michael Geulen, Andrea Greven, Denise Fischer-Kreer, Malte Brettel
{"title":"Why do firms fail? A new view on bankruptcy from the angle of top management team heterogeneity","authors":"Michael Geulen, Andrea Greven, Denise Fischer-Kreer, Malte Brettel","doi":"10.1007/s11846-023-00716-y","DOIUrl":"https://doi.org/10.1007/s11846-023-00716-y","url":null,"abstract":"<p>Avoiding bankruptcy is a crucial task for any firm’s top management team (TMT), and reasons for the failure to accomplish it have long been studied. While financial metrics can predict near-term bankruptcy, governance characteristics increase precision in the long term. With TMT heterogeneity, we introduce a powerful predictor for the critical time frame in between. Grounded in upper echelons theory, we argue that TMT age heterogeneity increases while heterogeneity in TMT pay and TMT functional backgrounds decreases the bankruptcy probability. We test our hypotheses using a unique dataset of large, public U.S. firms, about half of which filed for bankruptcy between 2001 and 2020. Our results support our research model and show how TMT heterogeneity significantly predicts bankruptcy. We contribute to both bankruptcy and strategic management research by underscoring the importance of TMT heterogeneity as a level of analysis when predicting bankruptcy and add to the ongoing discussion on the impact of TMT pay differences on firm performance. Additionally, we offer valuable insights to practitioners navigating their firms in times of crisis and to regulators shaping the insolvency statutes of the future.</p>","PeriodicalId":20992,"journal":{"name":"Review of Managerial Science","volume":"2 1","pages":""},"PeriodicalIF":5.5,"publicationDate":"2023-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138561766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Exploring the link between family ownership and leverage: a mediating pathway through socioemotional wealth objectives 探索家族所有权和杠杆之间的联系:通过社会情感财富目标的中介途径
IF 5.5 3区 管理学
Review of Managerial Science Pub Date : 2023-12-05 DOI: 10.1007/s11846-023-00713-1
Fernando Muñoz-Bullón, Maria J. Sanchez-Bueno, Pilar Velasco
{"title":"Exploring the link between family ownership and leverage: a mediating pathway through socioemotional wealth objectives","authors":"Fernando Muñoz-Bullón, Maria J. Sanchez-Bueno, Pilar Velasco","doi":"10.1007/s11846-023-00713-1","DOIUrl":"https://doi.org/10.1007/s11846-023-00713-1","url":null,"abstract":"<p>This paper explores the relationship between family ownership and a firm’s leverage from the socioemotional wealth (SEW) theory. We propose that SEW objectives (i.e., family control, long-term horizon, and family firm reputation) might have a mediating effect on the family ownership-leverage link. In addition, we argue that an internal contingency—such as below aspiration performance—may moderate SEW’s influence on the family ownership-leverage relationship as a result of a shift in focus from non-economic to economic goals. Using a sample of European listed firms from 2011 to 2018, we find that the negative impact of family ownership on a firm’s leverage is mediated through SEW objectives. Moreover, our evidence suggests that a negative performance-aspiration gap weakens the mediating influence of these SEW objectives on leverage. Over all, our study reveals that SEW is a key channel which drives family firms’ reluctance to leverage.</p>","PeriodicalId":20992,"journal":{"name":"Review of Managerial Science","volume":"65 ","pages":""},"PeriodicalIF":5.5,"publicationDate":"2023-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138507413","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Green, green, it’s green they say: a conceptual framework for measuring greenwashing on firm level 他们说，绿色，绿色，就是绿色:这是一个在企业层面上衡量“漂绿”的概念框架
IF 5.5 3区 管理学
Review of Managerial Science Pub Date : 2023-12-02 DOI: 10.1007/s11846-023-00718-w
Gregor Dorfleitner, Sebastian Utz
{"title":"Green, green, it’s green they say: a conceptual framework for measuring greenwashing on firm level","authors":"Gregor Dorfleitner, Sebastian Utz","doi":"10.1007/s11846-023-00718-w","DOIUrl":"https://doi.org/10.1007/s11846-023-00718-w","url":null,"abstract":"<p>This paper proposes a conceptual framework to determine a greenwashing indicator on firm level, based on five pillars of information that capture the key drivers of greenwashing: soft ESG data, textual self-representation, green marketing expenses, green virtue for the apparent green performance, and hard ESG data as a measure of the real green performance. The proposed framework is built on a literature review of greenwashing typology and drivers and can be applied to a broad set of firms at the same time, while most existing approaches are built on a detailed investigation of individual cases. The greenwashing indicator in our framework is based on the difference between real and apparent green performance. This approach allows the implicit calculation of the real green performance using the concept of a firm misconduct factor that helps to identify the greenwashing indicator without knowledge of the real (and often hard to measure) green performance of a firm.</p>","PeriodicalId":20992,"journal":{"name":"Review of Managerial Science","volume":"52 ","pages":""},"PeriodicalIF":5.5,"publicationDate":"2023-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138507424","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Linking top managers’ behavioural traits with business practices and firm performance 将高层管理者的行为特征与商业实践和公司绩效联系起来
IF 5.5 3区 管理学
Review of Managerial Science Pub Date : 2023-11-26 DOI: 10.1007/s11846-023-00714-0
Huong Trang Kim, Quang Nguyen
{"title":"Linking top managers’ behavioural traits with business practices and firm performance","authors":"Huong Trang Kim, Quang Nguyen","doi":"10.1007/s11846-023-00714-0","DOIUrl":"https://doi.org/10.1007/s11846-023-00714-0","url":null,"abstract":"<p>We embed an experiment in an ongoing firm-level panel survey with a sample of 623 firms managed by their owners to explore the role of top managers’ behavioral traits as drivers of corporate strategies and performance. We find that present biased managers are less likely to invest in business practices, leading to lower sales revenue. Younger managers are more patient and less risk-averse than older ones, and they play a more significant role in improving firm performance than their counterparts. Interestingly, we find compelling evidence that business practices play a crucial role as a mediating mechanism through which managers’ present bias and loss aversion affect firm performance.</p>","PeriodicalId":20992,"journal":{"name":"Review of Managerial Science","volume":"61 ","pages":""},"PeriodicalIF":5.5,"publicationDate":"2023-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138507414","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Comparing online user experience across different digital business ecosystems and platforms when booking vacations 比较不同数字商业生态系统和平台在预订假期时的在线用户体验
IF 5.5 3区 管理学
Review of Managerial Science Pub Date : 2023-11-23 DOI: 10.1007/s11846-023-00712-2
Saïd Aboubaker Ettis, Jean-Éric Pelet, Judith Lynne Zaichkowsky
{"title":"Comparing online user experience across different digital business ecosystems and platforms when booking vacations","authors":"Saïd Aboubaker Ettis, Jean-Éric Pelet, Judith Lynne Zaichkowsky","doi":"10.1007/s11846-023-00712-2","DOIUrl":"https://doi.org/10.1007/s11846-023-00712-2","url":null,"abstract":"<p>While various combinations of business eco-systems (desktop, laptop, tablet, mobile, smartwatch, and TV) and platforms (apps, websites, and social media pages) can be used to shop online, little is known about consumers’ preferences to choose one over another. The user experience on each eco-touchpoint and eco-channel is not the same. By comparing four groups of respondents (595 observations) using two different systems (Brand Website vs. Brand Facebook page) and two different channels (PC vs. Smartphone), this research examines how utilitarian values, hedonic values, satisfaction, and flow experience, might differ across these various business ecosystems for those booking a vacation. Participants were randomly guided to one of the four experimental groups based on their device. The results show that flow experience, utilitarian values, and hedonic values influence booking intentions. These effects differ from digital platform to digital platform and from one e-channel to another. This research deepens our theoretical understanding of the online user experience across business ecosystems and gives practical insights into how e-retailers could enhance consumers’ shopping experiences through the different e-channel and digital platforms that contribute, in a different way, to the online experience.</p>","PeriodicalId":20992,"journal":{"name":"Review of Managerial Science","volume":"54 ","pages":""},"PeriodicalIF":5.5,"publicationDate":"2023-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138507423","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Testing for signal-to-noise ratio in linear regression: a test under large or massive sample 线性回归中信噪比的检验:在大样本或大量样本下的检验
IF 5.5 3区 管理学
Review of Managerial Science Pub Date : 2023-11-19 DOI: 10.1007/s11846-023-00706-0
Jae H. Kim, Philip I. Ji
{"title":"Testing for signal-to-noise ratio in linear regression: a test under large or massive sample","authors":"Jae H. Kim, Philip I. Ji","doi":"10.1007/s11846-023-00706-0","DOIUrl":"https://doi.org/10.1007/s11846-023-00706-0","url":null,"abstract":"<p>This paper proposes a test for the signal-to-noise ratio applicable to a range of significance tests and model diagnostics in a linear regression model. It is particularly useful when sample size is large or massive, where, as a consequence, conventional tests frequently lead to inappropriate rejection of the null hypothesis. The test is conducted in the context of the traditional <i>F</i>-test, with its critical values increasing with sample size. It maintains desirable size properties under a large or massive sample size, when the null hypothesis is violated by a practically negligible margin. The test is widely applicable to many empirical studies in business and management.</p>","PeriodicalId":20992,"journal":{"name":"Review of Managerial Science","volume":"67 ","pages":""},"PeriodicalIF":5.5,"publicationDate":"2023-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138507412","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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 impact of psychological empowerment on innovative work behavior: a moderated mediation model of informal learning and proactive behavior 心理授权对创新工作行为的影响:非正式学习与主动行为的中介模型
IF 5.5 3区 管理学
Review of Managerial Science Pub Date : 2023-11-16 DOI: 10.1007/s11846-023-00717-x
Muhammad Qamar Zia, Tobias Hunning, Muhammad Sufyan Ramish, Muhammad Naveed, Shiraz Ahmed
{"title":"The impact of psychological empowerment on innovative work behavior: a moderated mediation model of informal learning and proactive behavior","authors":"Muhammad Qamar Zia, Tobias Hunning, Muhammad Sufyan Ramish, Muhammad Naveed, Shiraz Ahmed","doi":"10.1007/s11846-023-00717-x","DOIUrl":"https://doi.org/10.1007/s11846-023-00717-x","url":null,"abstract":"<p>This study aims to investigate the relationship between psychological empowerment (PE) and innovative work behavior (IWB) through the mediating mechanism of informal learning (IL) and the moderating role of proactive behavior. Based on conservation resource theory, a moderated mediation model was tested on a sample of 323 employees of Pakistan’s small services firms. The results reveal that psychological empowerment indirectly affects innovative work behaviour through informal learning and that the indirect effect of PE on IWB through informal learning is stronger at high levels of proactive behaviour. This study contributes to the literature by examining the mediating role of informal learning between PE and IWB with the moderating effect of proactive behaviour. Finally, this study presents theoretical and practical implications based on analytical results.</p>","PeriodicalId":20992,"journal":{"name":"Review of Managerial Science","volume":"42 1","pages":""},"PeriodicalIF":5.5,"publicationDate":"2023-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138507431","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Unpacking the complexities of crisis innovation: a comprehensive review of ecosystem-level responses to exogenous shocks 解开危机创新的复杂性:对生态系统层面对外生冲击的反应的全面回顾
3区 管理学
Review of Managerial Science Pub Date : 2023-11-09 DOI: 10.1007/s11846-023-00709-x
Alexander Brem, Petra A. Nylund, Saeed Roshani
{"title":"Unpacking the complexities of crisis innovation: a comprehensive review of ecosystem-level responses to exogenous shocks","authors":"Alexander Brem, Petra A. Nylund, Saeed Roshani","doi":"10.1007/s11846-023-00709-x","DOIUrl":"https://doi.org/10.1007/s11846-023-00709-x","url":null,"abstract":"Abstract Innovation in times of crisis has experienced a flood of research in the wake of recent events. These studies are dispersed over a broad range of fields and do not adequately reflect earlier research or prior crises. To encourage the convergence of related literature streams, we define crisis innovation as an ecosystem-level process to meet the needs of—and overcome the resource constraints derived from—an exogenous shock. We then conduct a systematic literature review aided by machine learning techniques, specifically utilizing topic modeling. We derive a taxonomy of crisis innovation, which represents innovation as a response to societal crisis, funding crisis, financial crisis, economic crisis, digitalization, transformation, political crisis, strategy crisis, and organizational crisis. We find that crisis innovation drives digitalization through increased motivation for open and ecosystem innovation, but also that the dynamic network structures required for lasting digital transformation are often not implemented during crisis.","PeriodicalId":20992,"journal":{"name":"Review of Managerial Science","volume":" 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135291310","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Sport entrepreneurship: the role of innovation and creativity in sport management 体育创业:创新和创造力在体育管理中的作用
3区 管理学
Review of Managerial Science Pub Date : 2023-11-08 DOI: 10.1007/s11846-023-00711-3
Jonas Hammerschmidt, María Huertas González-Serrano, Kaisu Puumalainen, Ferran Calabuig
{"title":"Sport entrepreneurship: the role of innovation and creativity in sport management","authors":"Jonas Hammerschmidt, María Huertas González-Serrano, Kaisu Puumalainen, Ferran Calabuig","doi":"10.1007/s11846-023-00711-3","DOIUrl":"https://doi.org/10.1007/s11846-023-00711-3","url":null,"abstract":"Abstract This article examines the state of research on sport entrepreneurship, with a particular focus on the intersection of entrepreneurship, innovation, and creativity in sport management. Sport is an increasingly important sector of the global economy, yet little attention has been given to the role of entrepreneurship in its development. This article argues that entrepreneurship, innovation, and creativity are crucial drivers of change, innovation, and employment in sport and that sport entrepreneurship is an emerging but unorganized stream of business research. To better understand the relationship between these research fields, we performed a study that combined a systematic review and a bibliometric analysis. This article presents thematic shifts in the field of sport entrepreneurship, innovation, and creativity. It proposes an integrated model of sport entrepreneurship, offering novel perspectives that contribute to the field. Furthermore, the article addresses the lack of research on creativity, sustainability, and the sport entrepreneur, charting underexplored territories. Overall, this article provides a comprehensive overview of current research on sport entrepreneurship and identifies key areas for future investigation.","PeriodicalId":20992,"journal":{"name":"Review of Managerial Science","volume":" 106","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135341057","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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 impact of climate litigation and activism on stock prices: the case of oil and gas majors 气候诉讼和行动主义对股价的影响:以石油和天然气巨头为例
3区 管理学
Review of Managerial Science Pub Date : 2023-11-02 DOI: 10.1007/s11846-023-00710-4
Sascha Kolaric
{"title":"The impact of climate litigation and activism on stock prices: the case of oil and gas majors","authors":"Sascha Kolaric","doi":"10.1007/s11846-023-00710-4","DOIUrl":"https://doi.org/10.1007/s11846-023-00710-4","url":null,"abstract":"Abstract The issue of oil and gas companies’ contribution to climate change gained particular prominence on May 26, 2021. A Dutch court ordered Royal Dutch Shell to significantly reduce its greenhouse gas emissions, while shareholder votes at Exxon Mobile and Chevron succeeded in pushing for further emissions reductions. Together, these events signify a sudden increase in climate litigation and climate activism risk for global oil and gas companies. This study assesses investors' perception of these events by investigating oil and gas companies’ stock price reaction. The results show a significant negative impact on the stock prices for European and North American oil and gas firms, while firms located in other jurisdictions record slight gains. Higher environmental, social, and governance scores appear to mitigate the negative impact on European and North American oil and gas companies, primarily driven through better emissions related measures. The results highlight the adverse effect of increased climate litigation and climate activism risk on firm valuations.","PeriodicalId":20992,"journal":{"name":"Review of Managerial Science","volume":"13 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135934119","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
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