{"title":"Strategic Change and Firms’ Optimal Distinctiveness: The Moderating Effect of Analyst Coverage","authors":"Marwan Al-Shammari, Soumendra Banerjee, Hazel Dadanlar","doi":"10.1111/1467-8551.12873","DOIUrl":"https://doi.org/10.1111/1467-8551.12873","url":null,"abstract":"<p>Drawing from optimal distinctiveness research, we explore the effect of strategic change on corporate social responsibility (CSR) activities in the context of CSR conformity and CSR differentiation. Additionally, we examine whether analyst coverage as a key external boundary condition can influence the magnitude of such an effect. Analysing an unbalanced panel of 2145 firm-year observations with 422 firms over the period 2004–2013, we found support for our predictions that while strategic change negatively and significantly affects CSR conformity, it positively and significantly impacts CSR differentiation. Additionally, our results show that analyst coverage strengthens the relationship between strategic change CSR conformity and CSR differentiation. Our findings expand the optimal distinctiveness, strategic change, and analyst coverage literature and provide insights into the complex and multifaceted aspects of CSR activities. Finally, this study's findings can equip strategic leaders and investors with knowledge as they face complex decision-making in their firms and investments.</p>","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":"36 2","pages":"810-827"},"PeriodicalIF":4.5,"publicationDate":"2024-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143762353","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}
{"title":"Antecedents of Customer Participation on Sharing Platforms: A Meta-analysis","authors":"Markus Blut, Cheng Wang","doi":"10.1111/1467-8551.12871","DOIUrl":"https://doi.org/10.1111/1467-8551.12871","url":null,"abstract":"<p>Given the substantive influence of the digital revolution on the sharing economy, it is timely and relevant to ask why some sharing platforms (e.g. Airbnb and Uber) achieve significant success while others fail. To determine which factors encourage customers to participate in sharing goods and services on sharing platforms, and when they do so, this study conducts a meta-analysis of empirical findings from 192 independent samples, extracted from 167 studies involving 171,344 customers. As the results clarify, customer-related factors (customer motives, customer competence, customer satisfaction and subjective norms) are key antecedents. However, platform-related factors (service quality of the platform, trust in the platform, performance expectancy and effort expectancy) and service-provider-related factors (service quality of the provider, trust in the provider and provider gender) also exert meaningful effects. To assess the generalizability of these antecedents, the meta-analysis includes contextual moderators, namely customer type (previous provider experience), provider type (private/professional supply), platform characteristics (rivalry on the platform, prestige of ownership and services/goods) and exchange type (for-profit/non-profit and ownership transfer). The findings advance the literature on the sharing economy and provide specific guidance for platform managers about when to focus on certain antecedents.</p>","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":"36 2","pages":"781-809"},"PeriodicalIF":4.5,"publicationDate":"2024-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8551.12871","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143761984","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abubakr Saeed, Muhammad Saad Baloch, Tahiru Azaaviele Liedong
{"title":"Using Political Connections to Raise Rivals’ Costs: Evidence from an Emerging Market","authors":"Abubakr Saeed, Muhammad Saad Baloch, Tahiru Azaaviele Liedong","doi":"10.1111/1467-8551.12869","DOIUrl":"https://doi.org/10.1111/1467-8551.12869","url":null,"abstract":"<p>In this paper, we leverage resource dependency theory to examine the impact of political connections on rivals’ costs and how this impact is affected by rival-side and politician-side contingencies. Using a panel dataset of Pakistani firms, our system generalized method of moments estimates show that politically connected firms can increase their rivals’ costs by influencing their rivals’ dependency relationship with the government. This impact is attenuated by the rivals’ strategic flexibility and social legitimacy, which provide some protection or insulation from political attacks in resource markets. Together, our findings extend the contingent dynamics of resource dependency in political markets from focal firms to competitors and offer significant contributions to the corporate political activity literature and resource dependency theory.</p>","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":"36 2","pages":"745-761"},"PeriodicalIF":4.5,"publicationDate":"2024-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143762062","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}
Meitong Dong, Yoona Choi, Pengcheng Ma, Hongbo Cai, Lin Cui
{"title":"Employee Ownership and Firm Digital Transformation","authors":"Meitong Dong, Yoona Choi, Pengcheng Ma, Hongbo Cai, Lin Cui","doi":"10.1111/1467-8551.12870","DOIUrl":"https://doi.org/10.1111/1467-8551.12870","url":null,"abstract":"<p>The development of digital technologies has triggered the digital transformation of organizations, enabling business model innovation. With the rise of a human-centred view of digitalization, previous studies have been devoted to exploring how leadership drives digitalization, overlooking the role of employees as a key stakeholder. Motivated by this gap, based on agency theory, we investigate how employee ownership affects digital transformation in firms. Further, we identify vital contingencies based on heterogeneity in human resource management under the ability–motivation–opportunity framework. Analysing data on Chinese listed firms from 2015 to 2021, we find that the adoption of employee ownership promotes firms’ digital transformation, and that this positive effect is moderated by R&D personnel (ability), female CEO (motivation) and state ownership (opportunity). Our findings reveal the role of employees in the digital transformation process, which deepens our understanding of the literature on employee ownership and business model innovation.</p>","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":"36 2","pages":"511-528"},"PeriodicalIF":4.5,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143762298","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}
Jing Chen, Elisabeth Dedman, Ja Ryong Kim, Tarek Metwally, Andrew W. Stark
{"title":"Board Nationality Diversity and Firm Value","authors":"Jing Chen, Elisabeth Dedman, Ja Ryong Kim, Tarek Metwally, Andrew W. Stark","doi":"10.1111/1467-8551.12872","DOIUrl":"https://doi.org/10.1111/1467-8551.12872","url":null,"abstract":"<p>Using management, finance and social psychology theories, we challenge the common perception that demographic diversity on boards of directors is unequivocally beneficial for firms. Employing a sample of 3826 UK firm-years, we analyse the dual nature of nationality diversity, recognizing its potential to contribute expertise and reduce groupthink, while also posing risks of conflict and reduced cohesion. We construct measures of the positive and negative aspects of diversity to provide robust evidence that nationality diversity-as-variety within a board of directors is positively associated with firm value, whereas diversity-as-separation has a negative moderating effect on this relationship. Additionally, board longevity weakens the negative effects of diversity-as-separation. This comprehensive approach improves our understanding of the complex relationship between board diversity and firm performance. Our results are informative for researchers because they demonstrate the importance of adopting less simplistic diversity measures in empirical studies. They are also instructive for policymakers, who can benefit from a more nuanced understanding of the issues raised when firms are mandated to increase demographic diversity on their boards. Finally, our study provides information to boards to help them maximize the benefits of diversity while minimizing potential costs.</p>","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":"36 2","pages":"762-780"},"PeriodicalIF":4.5,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8551.12872","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143762299","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Michaela Edwards, Maranda Ridgway, Gwen Chen, Emily Cooper, Sarah Pass
{"title":"(In)visible Working Mama Drama: From Excellent to ‘Good Enough’ Academia and (M)Others","authors":"Michaela Edwards, Maranda Ridgway, Gwen Chen, Emily Cooper, Sarah Pass","doi":"10.1111/1467-8551.12866","DOIUrl":"https://doi.org/10.1111/1467-8551.12866","url":null,"abstract":"<p>The neoliberal, precarious, anatomized and audit-centric academy produces an unfair burden on women academics. Academia, like many other organizational forms, demands unwellness. This paper argues that as well as intensifying the struggles of mothering academics like us, the pandemic also rendered us visible, forcing the body subject into view and, in doing so, offering some (albeit small) resistance to the ‘anatomizing urge’ in academia. Following discussions on agentic visibility, we propose the idea of agentic invisibility and a corresponding discussion of its loss during the pandemic. We argue that we could no longer choose to showcase what was excellent or to deliberately conceal what was not. Engaging in agentic visibility and invisibility tactics became very difficult, and this had many downsides, including the loss of liminal spaces and the difficulties in our private lives that were suddenly on display. What we choose to focus on, though, is a more caring future. Through the work of Donald Winnicott, we suggest that the difficult and sometimes painful spaces created by the pandemic forced us to reject excellence and to accept the ‘good enough’ as a way of being that should be respected. In this paper, we contribute to discussions concerning the reformative mode of ordering used by home-working mothers during the pandemic. Though we cannot and will not speak for others, we use our dual roles as mothering academics to illustrate broader problems for others who continue to be marginalized by academia and for those who simply seek a more balanced engagement with academia. We seek an acceptance of the ‘good enough’ for all people, from those in power and from each other.</p>","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":"36 2","pages":"560-570"},"PeriodicalIF":4.5,"publicationDate":"2024-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8551.12866","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143762288","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Abnormal Temperatures, Climate Risk Disclosures and Bank Loan Pricing: International Evidence","authors":"Wenxia Ge, Zhen Qi, Zhenyu Wu, Li Yu","doi":"10.1111/1467-8551.12867","DOIUrl":"https://doi.org/10.1111/1467-8551.12867","url":null,"abstract":"<p>This paper examines the effect of abnormal-temperature-related climate risk on bank loan pricing. Using a sample of syndicated loans from 35 countries and jurisdictions, we find that banks charge higher interest rates for borrowers with higher climate risk. We also find that climate risk affects loan spreads of both long-term and short-term loans, and this effect is more pronounced for short-term loans. Our cross-sectional analyses reveal that voluntary climate risk disclosures in conference calls by borrowers mitigate the impact of climate risk on loan spreads, especially when lead banks have less climate-risk-related lending experience. In addition, the borrowing cost of high-climate-risk borrowers in the United States decreases after the SEC issued climate risk disclosure guidance. However, the ESG disclosure requirements in 19 other countries, which are not climate-risk-specific, do not alter the effect of climate risk on bank loan pricing.</p>","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":"36 2","pages":"726-744"},"PeriodicalIF":4.5,"publicationDate":"2024-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143762289","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}
Zhangfan Cao, Steven Xianglong Chen, Edward Lee, Sujuan Xie
{"title":"Weathering the Storm: Unravelling the Influence of Climate Change Risk Exposure on Firms’ Human Capital Investment","authors":"Zhangfan Cao, Steven Xianglong Chen, Edward Lee, Sujuan Xie","doi":"10.1111/1467-8551.12868","DOIUrl":"https://doi.org/10.1111/1467-8551.12868","url":null,"abstract":"<p>Building on agency theory, this study examines the impact of climate change risks on corporate investment in human capital as a key factor of production. Using a sample of US listed firms for the period 1989–2017, we find that firms respond to the growing climate risks by enhancing efficiency in human capital investment, primarily through a reduction in over-hiring, consistent with our conjecture that firms adopt more prudent and efficient recruitment strategies in reaction to higher climate risks. Cross-sectional analyses suggest that such an improvement in human capital investment decisions is more salient for firms with poor corporate governance, less intellectual capital and facing greater industry competition and less pronounced for firms with more resilient assets against climate change. By exploiting two exogenous events that cause significant increases in climate risk as quasi-natural experiments, we conduct difference-in-differences analyses and find consistent evidence that the firms engage in more efficient human capital investment in response to both the physical and regulatory risks of climate change. Collectively, despite the overwhelming negative impact of climate change, our study reveals that such risks can play a disciplinary role in promoting more efficient managerial decisions on human capital investment.</p>","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":"36 2","pages":"633-649"},"PeriodicalIF":4.5,"publicationDate":"2024-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8551.12868","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143762316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Discretion in the Governance Work of Internal Auditors: Interplay Between Institutional Complexity and Organizational Embeddedness","authors":"Vikash Kumar Sinha, Marika Arena, Eduardo Schiehll","doi":"10.1111/1467-8551.12865","DOIUrl":"10.1111/1467-8551.12865","url":null,"abstract":"<p>This study examines which factors facilitate (obstruct) the discretion exercised by ground-level governance actors, such as internal auditors, in justifying their governance work. To achieve this objective, we rely on two complementary theoretical perspectives. One perspective proposes that the organizational embeddedness of ground-level governance actors, ordained by high-level governance actors (such as the board of directors), obstructs their discretion. In contrast, the other perspective, building on institutional complexity, propounds that multiple institutional demands facilitate the situated agency and discretion of ground-level governance actors. Consistent with the emerging multilevel research on institutional complexity, we combine these two perspectives by including both the structural and static meso-level factors (i.e. organizational embeddedness) as well as actors' situated agency. Utilizing three comparative cases, we demonstrate that internal auditors' ability to exercise discretion is facilitated (obstructed) when organizational embeddedness enables (constrains) the cohabitation of multiple institutional logics at the organizational level. In doing so, we identify <i>organizationally</i> situated agency as an underlying factor driving internal auditors’ justification approaches in their governance work.</p>","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":"36 2","pages":"686-706"},"PeriodicalIF":4.5,"publicationDate":"2024-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8551.12865","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142188631","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Are Prestigious Directors Mere Attractive Ornaments on the Corporate Christmas Tree?","authors":"Harsh Khedar, Vineet Agarwal, Sunil Poshakwale","doi":"10.1111/1467-8551.12863","DOIUrl":"10.1111/1467-8551.12863","url":null,"abstract":"<p>Using the United Kingdom's unique institutional setting of Queen's [now King's] honours, we examine the influence of director prestige on both short-term and long-term firm performance. We find that the market reacts positively to the appointments of Prestigious Award-Winning Directors (PAWDs). Firms appointing PAWDs also show significantly improved long-term performance, and this performance change is higher when firms appoint PAWDs according to their needs. The evidence suggests that PAWDs make important contributions to the firm by providing effective monitoring, facilitating preferential access to resources and offering legitimacy. We conclude that director prestige not only signals higher human and social capital but also incentivizes effective monitoring of managerial decisions.</p>","PeriodicalId":48342,"journal":{"name":"British Journal of Management","volume":"36 2","pages":"667-685"},"PeriodicalIF":4.5,"publicationDate":"2024-08-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8551.12863","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142188632","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}