{"title":"Shareholder reaction to corporate philanthropy after a natural disaster: an empirical exploration of the “signaling financial prospects” explanation","authors":"Kentaro Azuma, Nicolas M. Dahan, Jonathan Doh","doi":"10.1007/s10490-023-09876-7","DOIUrl":"10.1007/s10490-023-09876-7","url":null,"abstract":"<div><p>Corporate response to natural disaster in the forms of cash and/or in-kind donations (corporate philanthropic disaster response, or CPDR) is a growing form of corporate philanthropy. Through an event study methodology based on 1,775 firms listed on the Tokyo Stock Exchange, we analyze shareholder reaction to CPDR announcements after the 2016 Kumamoto earthquakes in Japan. Controlling for the possibility that the most common explanations (buying goodwill and corporate governance) are at play, our results provide an empirical test of a little-explored explanation for the positive shareholder reaction to CPDR: namely, that corporate philanthropy is a market signal to outside investors of the firm’s future financial prospects. We find this explanation to be significant. Of note are also the facts that shareholder reaction is only significantly positive in the case of cash donation (as opposed to in-kind), and is more positive when announced early. Overall, our results align with the “strategic philanthropy” view grounded in resource-dependence theory. But instead of the typical focus on non-financial stakeholders, we argue that philanthropic donations can be used to directly influence investors.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 3","pages":"1421 - 1449"},"PeriodicalIF":4.9,"publicationDate":"2023-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44610021","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":"When political ties matter for firm performance? The role of CEO’s political utilization orientation and prosocial orientation","authors":"Yin Bai, Yingzhao Xiao, Jingzhou Pan, Youchao Tan, Cheng Zeng","doi":"10.1007/s10490-023-09881-w","DOIUrl":"10.1007/s10490-023-09881-w","url":null,"abstract":"<div><p>This study investigates how and under which conditions political ties affect firm performance in a transition economy. Using the network-based view of social capital, we first distinguish between the two stages of accessing and mobilizing social capital in political ties, and then focus on network exploitation of political ties, proposing that government support acts as a mechanism that converts political ties into firm performance. We further examine the role of two personal traits of CEOs—political utilization orientation and prosocial orientation—in moderating this relationship. Using multi-source data from 626 small and medium-sized enterprises in China’s transition economy, we find that the effect of political ties on firm performance largely depends on the extent to which political ties can be utilized, and that the CEO’s political utilization orientation and prosocial orientation positively moderate this relationship. The implications of our findings for theory and practice are discussed.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 3","pages":"1395 - 1420"},"PeriodicalIF":4.9,"publicationDate":"2023-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47121301","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":"From sibship to entrepreneurship: an intragenerational perspective on entrepreneurial intention and action","authors":"Taiyuan Wang, Jie Cao, Nan Lin","doi":"10.1007/s10490-022-09867-0","DOIUrl":"10.1007/s10490-022-09867-0","url":null,"abstract":"<div><p>People’s entrepreneurial intention and action largely depend on their development and acquisition of entrepreneurial capital, including human, social, and financial capital. Extant research has adopted an intergenerational perspective, emphasizing that entrepreneurial capital can be transferred from parents and grandparents to offspring. We advance this literature by introducing an intragenerational perspective and arguing that siblings affect one’s development and acquisition of entrepreneurial capital. Siblings enhance social capital development through mutual learning, hinder human capital development because parental resource dilution harms cognitive advancement, and facilitate financial capital acquisition via lending and co-funding. In combination, these effects result in an inverted U-shaped relationship between sibship size and entrepreneurial intention and a positive and concave relationship between sibship size and entrepreneurial action. We also argue that men obtain more combined entrepreneurial capital from siblings than do women due to their parents’ son preference, shifting the inflection points of these curved relationships to the right for men. We analyze data on 6,048 individuals (16–60 years old) and find general evidence for these notions.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 3","pages":"1373 - 1394"},"PeriodicalIF":4.9,"publicationDate":"2023-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46169031","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":"Stuck in Limbo: how sensemaking discrepancy over strategy-related performance leads to disjointed collaboration in an international joint venture","authors":"Xiaoli Zhao, David R. Stiles","doi":"10.1007/s10490-023-09877-6","DOIUrl":"10.1007/s10490-023-09877-6","url":null,"abstract":"<div><p>A major issue in international business is why many International Joint Ventures (IJVs) fail to live up to partners’ expectations. Research into why IJVs underperform centres on differences between partners’ equity, resources, technical knowledge and cultural values, but seldom internal sensemaking conflicts. We address this research gap: specifically, the sense managers make of their own and their partner managers’ perceived performance in relation to strategy practices, and the effects of sensemaking upon collaboration. Some IJV studies examine outright organizational failure, but we focus on a common situation where partner firms’ expectations about each other’s performance are not met. Our case is a major Sino-New Zealand dairy IJV in a Limbo-like state of severe sensemaking discrepancy. Here, managers struggled to perform strategy effectively in a context of mutual misunderstanding and profound miscommunication, rooted in sensemaking differences. Using a strategy practice lens, we explore how this sensemaking discrepancy arose over organizational identity, learning and experience, strategizing, communication and trust. This eroded meaningful cooperation over strategy, leading to <i>disjointed collaboration</i>: a new concept capturing a state of compromised engagement, where the IJV continued operationally, but collaboration became increasingly difficult. We provide a theoretical framework to help understand sensemaking discrepancy in IJVs, based on a reconceptualization of sensemaking discrepancy in terms of <i>own and others’ expected and perceived performance</i>. We also offer essential practice-based insights into cognitive barriers to strategy collaboration.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 2","pages":"903 - 945"},"PeriodicalIF":4.9,"publicationDate":"2023-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s10490-023-09877-6.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49190797","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}
Gordon W. Cheung, Helena D. Cooper‑Thomas, Rebecca S. Lau, Linda C. Wang
{"title":"Correction to: Reporting reliability, convergent and discriminant validity with structural equation modeling: A review and best-practice recommendations","authors":"Gordon W. Cheung, Helena D. Cooper‑Thomas, Rebecca S. Lau, Linda C. Wang","doi":"10.1007/s10490-023-09880-x","DOIUrl":"10.1007/s10490-023-09880-x","url":null,"abstract":"","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 2","pages":"785 - 787"},"PeriodicalIF":4.9,"publicationDate":"2023-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s10490-023-09880-x.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135996238","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":"Nexus of digital platforms, innovation capability, and strategic alignment to enhance innovation performance in the Asia Pacific region: a dynamic capability perspective","authors":"Zahid Sarwar, Jingmei Gao, Adnan Khan","doi":"10.1007/s10490-023-09879-4","DOIUrl":"10.1007/s10490-023-09879-4","url":null,"abstract":"<div><p>The direct influence of digital platforms on organizational efficiency, financial performance, and strategy attracts the close attention of researchers. The complex mechanisms and pathways of digital platforms on transformation capacity, however, are still unclear at the global and Asia Pacific levels. Drawing on dynamic capability theory, we empirically explore how digital platforms augment organizational innovation performance. We advance the current literature on digital platforms by finding that digital platform capability boosts an organization’s dynamism and innovation performance. Furthermore, we extend the literature by revealing that, indirectly, innovation capability and strategic alignment have a substantial influence over digital platform capability and innovation performance. Finally, the study formulates a conceptual model from a dynamic capability perspective, rather than from a resource-based view, and test it using the responses collected from 153 Pakistani manufacturing firms.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 2","pages":"867 - 901"},"PeriodicalIF":4.9,"publicationDate":"2023-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48710732","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":"Survival tactics for distressed firms in emerging markets","authors":"Kun Jiang, Susheng Wang","doi":"10.1007/s10490-023-09873-w","DOIUrl":"10.1007/s10490-023-09873-w","url":null,"abstract":"<p>Understanding how firms cope with economic crises is of great importance, particularly in this period of rising interest rates coupled with a severe pandemic crisis. This study conducts an empirical analysis of firms in distress based on a large firm-level panel dataset containing detailed micro-level information on Chinese manufacturing firms. We study economic distress rather than financial distress. Moreover, we identify survival tactics adopted by distressed firms and the factors driving their choice of tactics. We show that three particular survival tactics help distressed firms recover, namely, reliance on fixed assets, reliance on intangible assets, and cost reduction. Furthermore, we show the critical role of institutional development in emerging economies, where institutions include product markets, financial markets, and legal institutions.</p>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 2","pages":"823 - 866"},"PeriodicalIF":4.9,"publicationDate":"2023-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43034963","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":"Correction to: How Yin-Yang cognition affects organizational ambidexterity: the mediating role of strategic flexibility","authors":"Feifei Jiang, Donghan Wang, Zelong Wei","doi":"10.1007/s10490-023-09874-9","DOIUrl":"10.1007/s10490-023-09874-9","url":null,"abstract":"","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"40 3","pages":"1321 - 1321"},"PeriodicalIF":5.4,"publicationDate":"2023-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50017818","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":"Performance feedback as a determinant of ego-network stability in collaboration networks","authors":"Jingbei Wang, Yafei Nie, Min Guo, Hui Liu","doi":"10.1007/s10490-023-09872-x","DOIUrl":"10.1007/s10490-023-09872-x","url":null,"abstract":"<p>Collaboration networks are not intrinsically unstable and fragile, ego-network stability cannot be taken for granted. Extant research has highlighted the determinants of ego-network stability; nevertheless, it is still unclear how behavioral factors affect a firm’s ego-network stability in a collaboration network as a consequence of a decision-maker’s bounded rationality. Drawing from the behavioral theory of the firm and attention-based view, this paper explores how ego-network stability is affected by performance feedback and investigates the influence of CEOs’ information advantage and power on firms’ responses to performance feedback. Using longitudinal data on Chinese publicly listed firms in the pharmaceutical industry from 2007 to 2020, we find that the magnitude of a firm’s outperformance relative to its aspirations harms its ego-network stability. The magnitude of a firm’s underperformance relative to its aspirations has a U-shaped relationship with its ego-network stability. Moreover, CEOs’ social capital and power strengthen the negative relationship between the magnitude of a firm’s outperformance relative to its aspirations and its ego-network stability, and CEOs’ social capital flattens the U-shaped effect of the magnitude of a firm’s underperformance relative to its aspirations on its ego-network stability.</p>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 2","pages":"789 - 821"},"PeriodicalIF":4.9,"publicationDate":"2023-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52060278","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}
Gordon W. Cheung, Helena D. Cooper-Thomas, Rebecca S. Lau, Linda C. Wang
{"title":"Reporting reliability, convergent and discriminant validity with structural equation modeling: A review and best-practice recommendations","authors":"Gordon W. Cheung, Helena D. Cooper-Thomas, Rebecca S. Lau, Linda C. Wang","doi":"10.1007/s10490-023-09871-y","DOIUrl":"10.1007/s10490-023-09871-y","url":null,"abstract":"<div><p>\u0000Many constructs in management studies, such as perceptions, personalities, attitudes, and behavioral intentions, are not directly observable. Typically, empirical studies measure such constructs using established scales with multiple indicators. When the scales are used in a different population, the items are translated into other languages or revised to adapt to other populations, it is essential for researchers to report the quality of measurement scales before using them to test hypotheses. Researchers commonly report the quality of these measurement scales based on Cronbach’s alpha and confirmatory factor analysis results. However, these results are usually inadequate and sometimes inappropriate. Moreover, researchers rarely consider sampling errors for these psychometric quality measures. In this best practice paper, we first critically review the most frequently-used approaches in empirical studies to evaluate the quality of measurement scales when using structural equation modeling. Next, we recommend best practices in assessing reliability, convergent and discriminant validity based on multiple criteria and taking sampling errors into consideration. Then, we illustrate with numerical examples the application of a specifically-developed R package, measureQ, that provides a one-stop solution for implementing the recommended best practices and a template for reporting the results. measureQ is easy to implement, even for those new to R. Our overall aim is to provide a best-practice reference for future authors, reviewers, and editors in reporting and reviewing the quality of measurement scales in empirical management studies.\u0000</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 2","pages":"745 - 783"},"PeriodicalIF":4.9,"publicationDate":"2023-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s10490-023-09871-y.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45960472","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}