{"title":"Corporate Governance in Extreme Institutional Environments","authors":"Douglas J. Cumming, C. Girardone, M. Śliwa","doi":"10.2139/ssrn.3917137","DOIUrl":"https://doi.org/10.2139/ssrn.3917137","url":null,"abstract":"This paper reviews the literature on corporate governance in extreme institutional environments, including both formal and informal institutions. We focus on three main areas of research: corporate governance in an international context, banking and corporate governance, and governance in entrepreneurship and innovation. We document some classic papers in each of these areas and explain how the papers in this special issue contribute to the development of these areas of research. We discuss recommendations for policy and practice and offer suggestions for future research.","PeriodicalId":422974,"journal":{"name":"CGN: Entrepreneurship (Management) (Topic)","volume":"194 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131924373","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Financial Performance Analysis of Selected Automobile Companies in India","authors":"Samita Mahapatra","doi":"10.2139/ssrn.3892284","DOIUrl":"https://doi.org/10.2139/ssrn.3892284","url":null,"abstract":"The automobile market in India is the fourth largest in the world. According to the Automobile Mission Plan 2016-2026 it is projected to be third largest, contributing 12% to the GDP. Under the automatic route, 100% FDI is permitted along with full de-licensing (www.makeinindia.com). It is one of the core sectors and has rapidly grown post reforms. The demand for vehicles has grown leaps and bounds. The automobile sector in India experienced a slow down due to prolonged <br>lockdown due to COVID-19. There was a 51% decline in the domestic sale of passenger vehicles according to the Society of Indian Automobile Manufacturers. The trend of slowdown was observed in this industry before lockdown also. After the announcement of phase-wise unlocking this sector experience a sharp rise in the demand. In this paper, the researchers are making an attempt to analyze the growth and financial performance of selected automobile companies. Based on the <br>secondary data, the trend in growth quarterly sales, revenue and market cap has been studied. For financial performance, the selected ratios are been calculated and compared. The reasons for growth and financial performance has been identified and discussed by the researchers.<br>","PeriodicalId":422974,"journal":{"name":"CGN: Entrepreneurship (Management) (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131396648","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Gerhard Schnyder, Anna Grosman, Kun Fu, M. Siems, Ruth V. Aguilera
{"title":"Legal Perception and Finance: The Case of IPO Firm Value","authors":"Gerhard Schnyder, Anna Grosman, Kun Fu, M. Siems, Ruth V. Aguilera","doi":"10.2139/ssrn.3846913","DOIUrl":"https://doi.org/10.2139/ssrn.3846913","url":null,"abstract":"In this paper, we contribute to the literature on institutional determinants of IPO valuation. We introduce the concept of ‘legal signaling,’ which focuses on the perception of the quality of law and thus complements the existing institutional approaches to IPO valuation which consider the quality of the positive law (‘standard view’) and firm-level corporate governance practices (‘firm signaling view’). Our approach explicitly models the difference between the effect of the positive law and the effect of the perception of law on IPO value. Based on a worldwide longitudinal dataset of IPO performance across a large number of countries, we find strong support for the claim that the perception of the quality of law is more important than its actual quality to explain post-IPO firm value. This effect holds regardless of whether the law’s quality is correctly perceived or misperceived. Overall, our findings underscore the need for a more sophisticated theorization of the ways in which law affects entrepreneurial finance.","PeriodicalId":422974,"journal":{"name":"CGN: Entrepreneurship (Management) (Topic)","volume":"95 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125007132","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Political Duality: On the Advantages and Disadvantages of Ex-Politicians and Former Government Officials Serving on Boards of Directors","authors":"Mark Fuller, C. Bart","doi":"10.22495/cbv16i3art1","DOIUrl":"https://doi.org/10.22495/cbv16i3art1","url":null,"abstract":"In this study, we examine two key issues situated at the intersection of corporate governance and corporate political activity literature. The first is whether the presence of ex-politicians or former government officials on a corporate board provides a competitive advantage for the firm. A second, related question is whether the presence of these outside directors on the board of directors is perceived as desirable by their fellow directors. While some have characterized the study of board processes as a black box (Leblanc, 2003; Pugliese et al., 2009) due to the difficulty in acquiring data, we circumvented this challenge by directly surveying 82 Canadian board members, then delved deeper with ten directors using supplemental qualitative interviews. The results were examined via the lens of strategic positioning theory in contrast to the well-worn use of agency and resource dependency theories in the literature. Our findings suggest that heterogeneous benefits may accrue depending upon the industry involved, and the political experience of the director(s) in question. However, a majority of current directors expressed significant reservations concerning the appointment of a political director. These findings, combined with the understudied Canadian context and the use of qualitative research methods, contribute to the extant literature.","PeriodicalId":422974,"journal":{"name":"CGN: Entrepreneurship (Management) (Topic)","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115599137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Can Changing His Management Style Help Shahid Khan Win a Super Bowl?","authors":"Dallas Glenn","doi":"10.2139/ssrn.3590901","DOIUrl":"https://doi.org/10.2139/ssrn.3590901","url":null,"abstract":"The Jacksonville Jaguars’ have greatly improved as a company since Shahid Khan purchased the team. Before he purchased the franchise, less than 1% of NFL viewers claimed that the Jaguars were their favorite team. This time period also saw the Jaguars being identified as the least valuable team in the NFL at well under $800 million USD. This daunting challenge did not phase Khan, as his off-the-field activities saved the Jaguars’ reputation as a business and led to the club becoming more valuable than a quarter of the NFL. In addition to this, the franchise has been able to improve the power and value of its branding by playing games in London, England, United Kingdom every season. However, the franchise’s on-field performance has been abysmal, and the same managerial style that Khan uses to improve the Jaguars as a company has led to it failing as an NFL football team that is rarely in postseason contention. This paper will compare Khan’s management style to that of Jerry Jones, a Hall of Fame owner that has been able to turn the Dallas Cowboys into a multi-billion dollar business and a consistent playoff contender. Since Jones has been able to balance both sides of the NFL coin, this paper will ask whether or not Khan could ever do the same.","PeriodicalId":422974,"journal":{"name":"CGN: Entrepreneurship (Management) (Topic)","volume":"134 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132410360","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. Duran-Encalada, Juan Manuel San Martín-Reyna, Héctor Montiel-Campos
{"title":"A Research Proposal to Examine Entrepreneurship in Family Business","authors":"J. Duran-Encalada, Juan Manuel San Martín-Reyna, Héctor Montiel-Campos","doi":"10.7341/2012834","DOIUrl":"https://doi.org/10.7341/2012834","url":null,"abstract":"This paper builds on existing theoretical and empirical studies in the areas of family business and entrepreneurship. It uses Dubin´s theory building framework to propose a model for conducting research of family businesses and its linkage to entrepreneurial activities in Mexico. This works starts by describing the concepts of family business and explains the importance that these definitions can have on the variables to be included in the research. After that, the paper explains how the concept of “familiness” relates to the essence definition of family business. Using the resource-based view (RBV), agency theory, and social capital theories we describe how social capital resources are the basis for building firm capabilities and competitive advantages that influence firm’s performances. Based on this perspective, a theoretical model, laws of interaction, a set of propositions and suggestions for further research are provided.","PeriodicalId":422974,"journal":{"name":"CGN: Entrepreneurship (Management) (Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114478757","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Venture Capitalists’ Managerial Involvement in Entrepreneurships: Is Too Much of a Good Thing Bad?","authors":"April M. Knill","doi":"10.2139/ssrn.1337110","DOIUrl":"https://doi.org/10.2139/ssrn.1337110","url":null,"abstract":"Venture capitalists are investors that provide valuable hand-holding for the companies in which they invest. A venture capitalist chooses the level of involvement with his portfolio companies. Involvement spans from a very relaxed, limited communication ‘laisse faire’ approach to a very involved, almost stifling, ‘hands on’ approach. If venture capitalist involvement is valuable, is more involvement better, or is too much of a good thing bad? The answer to this question lies in the nature of the relationship between venture capitalist managerial involvement and portfolio company performance; specifically, whether it is linear or nonlinear. Using data from Thomson Reuters VentureXpert, I find that there exists a nonlinear relationship between the level of VC involvement for both PC performance and outcome. Results suggest that extreme levels of VC involvement should be avoided.","PeriodicalId":422974,"journal":{"name":"CGN: Entrepreneurship (Management) (Topic)","volume":"1986 6","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132703097","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Role of Board of Directors in the Internationalisation Process of Small and Medium Sized Family Businesses","authors":"A. Calabrò, Donata Mussolino, M. Huse","doi":"10.1504/IJGSB.2009.032259","DOIUrl":"https://doi.org/10.1504/IJGSB.2009.032259","url":null,"abstract":"Internationalisation is one of the biggest challenges for family businesses. Although prosperous locally, many of these firms often face several difficulties in entering foreign markets. To date, there are contrasting results with respect to the internationalisation behaviour of family businesses and the role of boards of directors in this process. Adopting the resource-based view of the firm, the paper focuses on the determinants of the internationalisation pathways taken by family businesses. Basing on a sample of 146 small and medium sized Norwegian family businesses, we find that the board is an important strategic resource contributing to their international expansion. The results highlight the existence of various relationships between board member characteristics, board tasks performance and the export intensity. In particular, we find that family businesses with higher levels of non-family board members are more likely to be international. Moreover, we find that boards' involvement in advisory tasks contributes positively to the export intensity. The implications for theory and practice and future research directions are discussed.","PeriodicalId":422974,"journal":{"name":"CGN: Entrepreneurship (Management) (Topic)","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125366301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Complexity and Chaos in Management Sciences Towards Ecologies of Value","authors":"L. Pilotti","doi":"10.2139/SSRN.1293770","DOIUrl":"https://doi.org/10.2139/SSRN.1293770","url":null,"abstract":"The main aim of that paper is to rethinking the connections between complexity and management provoking questions among managers and entrepreneurs, moreover between specialists about consolidated practices of control, governance and predictability. Which compatibility of those practices with emergent complexity of the world. A world where knowledge assume a central role to generate value in a different manner respect to /fordism/ and post-fordism. How to facing permanent innovation and change? Which form of new firm able to match a new global environment? Ecologies of value is a first answer to those great questions, not the sole but probably a good start in particular with an application to local production system and relationship between economic space and complexity about Italian district.","PeriodicalId":422974,"journal":{"name":"CGN: Entrepreneurship (Management) (Topic)","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128900769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"On a Short Leash? Young Organizations, Strategic Change, and Venture Capital","authors":"M. Marx","doi":"10.2139/ssrn.1441611","DOIUrl":"https://doi.org/10.2139/ssrn.1441611","url":null,"abstract":"The article discusses technological innovations and their impact on organizations and industries. It is noted that experimentation is needed to establish technical standardization and to determine ...","PeriodicalId":422974,"journal":{"name":"CGN: Entrepreneurship (Management) (Topic)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133028326","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}