{"title":"Mergers and Attributions: An Examination of M&A Terminations in 1996–2022","authors":"Zhe (Adele) Xing, Xiwei Yi","doi":"10.1111/joms.13163","DOIUrl":"https://doi.org/10.1111/joms.13163","url":null,"abstract":"<p>Firms often make attributions regarding their actions in managing relationships with shareholders and investors. While research utilizing attribution theory has found that firms tend to attribute negative outcomes to external factors and positive outcomes to internal ones, this behaviour can have both positive and negative consequences. Addressing these contrasting results, our paper adopts a multidimensional framework of attribution to study how firms offer explanations for their actions. Leveraging insights from attribution theory and expectancy violation theory, we investigate whether investors respond diversely to firms' heterogeneous attributions for terminating acquisitions. Our findings indicate that an initial positive market reaction to an acquisition announcement is negatively correlated with the market reaction to the acquisition's termination. This negative relationship diminishes when the acquirer attributes the termination to external, uncontrollable and unstable factors. This paper contributes to the acquisition literature by highlighting multiple categories of attributions for firms to strategically manage market reactions.</p>","PeriodicalId":48445,"journal":{"name":"Journal of Management Studies","volume":"63 3","pages":"961-997"},"PeriodicalIF":6.4,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joms.13163","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147708316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Rebecca Mitchell, Jane Maley, Brendan Boyle, Jun Gu
{"title":"Stigma Management within and between Levels","authors":"Rebecca Mitchell, Jane Maley, Brendan Boyle, Jun Gu","doi":"10.1111/joms.13168","DOIUrl":"https://doi.org/10.1111/joms.13168","url":null,"abstract":"<p>We respond to recent calls to connect our understanding of stigma across and between levels of analysis by investigating how stigma management strategies to the same stigma vary and relate in nested industry, organizational, and individual actors. Drawing on data collected <i>from</i> 61 interviews with various workers in the coal industry in Australia, we find evidence of commonalities across individual, organizational, and industry stigma management strategies as well as substantial distinctions. Furthermore, we find evidence of cross-level influence efforts that aim to increase the probability that specific tactics will be more likely adopted or effective. While individual, organizational, and industry actors can all be ‘labelled’ by the same stigmatization, the present study is, to our knowledge, the first that explores whether and how actors at different levels manage the same stigma.</p>","PeriodicalId":48445,"journal":{"name":"Journal of Management Studies","volume":"63 3","pages":"861-890"},"PeriodicalIF":6.4,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joms.13168","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147708253","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Xiaomeng Liu, Abby Jingzi Zhou, Steven Shijin Zhou, Tao Bai, Xue Tan
{"title":"Shock Anticipation: Voluntary Turnover by Foreign Directors in Response to Sanctions on Peer Firms","authors":"Xiaomeng Liu, Abby Jingzi Zhou, Steven Shijin Zhou, Tao Bai, Xue Tan","doi":"10.1111/joms.13204","DOIUrl":"https://doi.org/10.1111/joms.13204","url":null,"abstract":"<p>This paper proposes a new turnover mechanism, namely <i>shock anticipation</i>, which explains how the anticipation of potential shocks triggers voluntary turnover by individuals in organizations. Drawing on the context of US sanctions on China initiated in 2018, we analyse a sample of foreign directors (FDs) from Chinese-listed firms between 2014 and 2021. We suggest sanctions on peer firms lead FDs to anticipate potential sanctions on their own organizations and become concerned about the associated negative effects on their careers, which in turn motivates their turnover. We further argue that FDs at state-owned enterprises (SOEs) anticipate a higher risk and, consequently, are more likely to leave after observing sanctions imposed on their peer firms. In contrast, FDs with shorter career horizons are less inclined to leave as they perceive diminished damage to their future career. Our empirical results provide robust support for these hypotheses. This study enriches the literature on turnover and sanctions while also offering practical implications.</p>","PeriodicalId":48445,"journal":{"name":"Journal of Management Studies","volume":"63 3","pages":"1374-1402"},"PeriodicalIF":6.4,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147708363","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Things at Work: How Things Contribute to Performing Work","authors":"Jörgen Sandberg, Gloria Dall'Alba, Anna Stephens","doi":"10.1111/joms.13182","DOIUrl":"https://doi.org/10.1111/joms.13182","url":null,"abstract":"<p>A crucial question for organizations is what constitutes work performance. While the importance of human competence and motivation to work performance has been established, less well understood is how ‘things’ – such as algorithms, tools, instruments, and raw materials – contribute to work performance. As ‘intelligent’ and ‘agentic’ technologies become further involved in work, it is increasingly important to understand the impact of things upon work performance. Although research adopting an entanglement perspective (e.g., practice theory, sociomateriality, affordances, science and technology studies) has convincingly demonstrated things are integral to work performance, there is a need for heightened clarity on <i>how</i> things contribute to performing work. Informed by an ontology of things and drawing on an ethnographic study in the biotechnology industry, we propose things are constitutive of work performance in three interrelated ways: (1) by belonging to a nexus of useful things, (2) through performing interlinked roles, and (3) while co-constituting work performance in concert with practitioners. Our theoretical and empirical account offers a more <i>integrative</i> and <i>comprehensive understanding</i> of how things are constitutive of work performance compared to the existing entanglement literature. This opens several new possibilities for enhancing work performance in organizations, which we outline in the paper.</p>","PeriodicalId":48445,"journal":{"name":"Journal of Management Studies","volume":"63 3","pages":"1155-1191"},"PeriodicalIF":6.4,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joms.13182","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147708119","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"When A Political Sinner Does A Good Deed: The Role of Government Officials' Stigma Anxiety in Granting Political Access","authors":"Yuyuan Chang, Shuping Li","doi":"10.1111/joms.13189","DOIUrl":"https://doi.org/10.1111/joms.13189","url":null,"abstract":"<p>This study examines when firms with damaged political reputations – political officials' negative perceptions of a firm's capabilities and character – attempt to restore their reputations and regain political access through an essential form of Corporate Political Activities (CPA), Corporate Social Responsibility (CSR). We focus on the officials' incentives and introduce the concept of stigma anxiety, which refers to officials' concerns about being associated with reputationally damaged firms. Analysing 3531 Chinese firms from 2012 to 2020 in the context of China's anticorruption campaigns, we find that officials are less likely to grant political access to firms with damaged political reputations. However, CSR activities may mitigate these adverse effects. The effectiveness of CSR activities in regaining political access is further influenced by officials' stigma anxiety, shaped by three factors: controllability (the extent to which a stigmatized actor is perceived as responsible for the stigma), disruptiveness (the degree to which stigma is perceived as a threat to others), and visibility (the extent to which a stigma event stands out and attracts sustained attention). Our findings contribute to research on CPA, stigma, and CSR.</p>","PeriodicalId":48445,"journal":{"name":"Journal of Management Studies","volume":"63 3","pages":"1341-1373"},"PeriodicalIF":6.4,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147708256","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Goal Hierarchies: Understanding Sub-Goal and Primary Goal Interdependency","authors":"Xavier Sobrepere, Henrich R. Greve","doi":"10.1111/joms.13202","DOIUrl":"https://doi.org/10.1111/joms.13202","url":null,"abstract":"<p>There is increased research on how organizations respond to performance feedback on multiple goals. Most of it considers goals that have ambiguous ranking and thus differs from goal hierarchies with sub-goals that are instrumental for accomplishing a primary goal. We develop theory on how goal hierarchies lead to primary goal and sub-goal interactions influencing organizational decision-making. We show that sub-goals are important because they are temporally prior and instrumental for primary goals, making organizational responses to sub-goals and primary goal interdependent in interesting ways. Empirically, we demonstrate a more sophisticated approach to multiple goals than earlier work suggests. This advances the behavioural theory of the firm, and supports and refines key assumptions for organizational design and organizational economics, encouraging further research on the role of goal structures and incentive schemes. Our theory and findings call for increased consideration of the March and Simon's (1958) hierarchical goals’ model in management research.</p>","PeriodicalId":48445,"journal":{"name":"Journal of Management Studies","volume":"63 3","pages":"1403-1443"},"PeriodicalIF":6.4,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joms.13202","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147708319","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Arjen H. L. Slangen, Riccardo Valboni, Nazareno Braito, Jonas Puck
{"title":"Imitation of Location Choices for Foreign Investments: The Role of Subnational Foreign Locations' Cultural Tightness","authors":"Arjen H. L. Slangen, Riccardo Valboni, Nazareno Braito, Jonas Puck","doi":"10.1111/joms.13170","DOIUrl":"https://doi.org/10.1111/joms.13170","url":null,"abstract":"<p>Firms are known to commonly imitate peers' foreign investment location choices. We shed further light on this phenomenon by exploring the role of foreign locations' cultural tightness, which refers to the prevalence of social norms in a location and the tolerance for deviance from them. Combining institutional theory with insights from research on cultural tightness, we hypothesize that firms are more strongly inclined to imitate peers' choice for a subnational foreign investment location when the location is culturally tighter. Our hypothesis receives consistent support in conditional logit analyses based on 2900 foreign investments in new manufacturing plants in US metropolitan areas over the period 2008–2019. Furthermore, the amplifying effect of a subnational location's cultural tightness on firms' propensity to imitate their peers' choice for the location seems to depend on firms' experience with cultural tightness and their home country's cultural distance from the USA. Our findings enrich international management research on location choice imitation, legitimacy risks, and cultural tightness.</p>","PeriodicalId":48445,"journal":{"name":"Journal of Management Studies","volume":"63 3","pages":"998-1031"},"PeriodicalIF":6.4,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joms.13170","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147708137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Kimberly A. Eddleston, Philipp Sieger, Francesco Chirico, Massimo Baù
{"title":"The King Is Dead – Long Live Who? A Family and Firm Embeddedness Perspective on Succession after the CEO-Owner's Sudden Death","authors":"Kimberly A. Eddleston, Philipp Sieger, Francesco Chirico, Massimo Baù","doi":"10.1111/joms.13183","DOIUrl":"https://doi.org/10.1111/joms.13183","url":null,"abstract":"<p>When the CEO-owner of an SME suddenly dies, who should take over? Integrating the social embeddedness perspective with research on crisis management, we theorize that an SME's financial health gets progressively worse before it stabilizes and recovers, reflecting an inverse U-shaped relationship between time since the CEO-owner's sudden death and an SME's financial distress. We then explore how successors' family and firm embeddedness moderate this relationship. Using a longitudinal sample of Swedish SMEs, we find general support for our theorizing. While nonfamily successors lead to less financial distress than family successors immediately following a CEO-owner's sudden death, the opposite occurs in the long term. Further, successors with high firm embeddedness are associated with less financial distress than those with low firm embeddedness in both the short- and long-term. Additionally, our post-hoc analyses reveal that successors with high firm embeddedness, independent of their family embeddedness, outperform those low in firm embeddedness. Family successors lacking firm embeddedness report the highest financial distress, whereas family successors with high firm embeddedness experience the lowest. Our social embeddedness perspective on succession after the CEO-owner's sudden death therefore contends that successor embeddedness explains differences in an SME's financial health, with the importance of successor firm tenure overshadowing the effect of family status.</p>","PeriodicalId":48445,"journal":{"name":"Journal of Management Studies","volume":"63 3","pages":"1192-1228"},"PeriodicalIF":6.4,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joms.13183","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147708192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Status Transfer across Borders: The Mediating Role of Common Partners in First Entry","authors":"Yu Liu, Markku Maula, Brian C. Pinkham","doi":"10.1111/joms.13176","DOIUrl":"https://doi.org/10.1111/joms.13176","url":null,"abstract":"<p>Recent studies on organizational status and international business (IB) have found evidence for the transferability of status to new markets by showing that, at least under certain circumstances, network status in the home market affects a firm's entry into and performance in new foreign markets; however, the status transfer mechanisms in these studies have thus far been inferred and not directly tested. We focus on this black box of how status transfers, or more plainly, how high network status in one market leads to high network status in another market. We posit that an important underlying mechanism is the mediating role of the status of common partners in partner selection. Firms with high home-country status are more likely to have high-status common partners facilitating tie formation with prospective high-status local partners in the new market. We argue that through this mechanism, foreign firms with a higher status in their home country are more likely to partner with firms of higher local status in the entered market, thereby transferring their status to the new market. The hypotheses receive support from mediation effect analyses of global venture capital (VC) investments, contributing to an improved understanding of the stratus transfer mechanisms in international settings.</p>","PeriodicalId":48445,"journal":{"name":"Journal of Management Studies","volume":"63 3","pages":"1059-1093"},"PeriodicalIF":6.4,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joms.13176","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147708365","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"List of People Who Reviewed for JMS in 2025","authors":"","doi":"10.1111/joms.70069","DOIUrl":"https://doi.org/10.1111/joms.70069","url":null,"abstract":"","PeriodicalId":48445,"journal":{"name":"Journal of Management Studies","volume":"63 2","pages":"811-855"},"PeriodicalIF":6.4,"publicationDate":"2026-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146224367","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}