Search results for "Strategy and Management"

2019

Research Summary We explore the qualitative differences in entries and exits over time. Using qualitative and quantitative data on 96 firms over 200 years, we study industry evolution from the perspective of individual decision‐making situations. Our historical and statistical analyses reveal the vital role of technology investments in determining firm outcomes, and the technological, institutional and governance dynamics that lead firms to invest or to abstain. Our main theoretical and methodological contribution concerns the importance of the multiplicity of firm‐level rationalities and decisions as fundamentals in theorizing on industry evolution. Managerial Summary What determines firm …

Revolving doors: are they valued in the Spanish stock market?

2016

Purpose The purpose of this paper is to examine the effect of political connections in the value of companies listed on the Spanish stock market. Design/methodology/approach The authors study two issues on this topic: the impact on the company value of the appointment as director of an ex-politician through an event study; and the long run stock market performance of companies with political connections. The authors employ a sample of listed firms in the Spanish stock market for which the authors collected data about their political connections. The authors perform the study during a wide period (1996-2011), comprising four legislatures. Findings The results show that from the market persp…

Fostering Dynamic Growth in New Ventures through Venture Capital: Conceptualizing Venture Capital Capabilities

2017

There is ample evidence of the influence of venture capital on the creation and growth of new ventures, yet scant attention has been paid to the heterogeneity of venture capitalists and their capacity to contribute to the dynamic growth of new ventures. This paper aims to contribute to the existing literature by exploring the notion that venture capitalists have beneficial effects on the growth of new ventures when they rely on a set of distinctive skills and processes that we associate with venture capital capabilities. We bridge the venture capital and resource-based view research streams to identify the foundational mechanisms of venture capital capabilities. We develop a set of proposit…

Unveiling the Role of Multiple blockholders: Evidence from Closely Held Firms.

2019

Research Question/Issue. This paper disentangles how the modes of ownership distribution among multiple blockholders and their heterogeneity shape principal–principal conflicts and, in turn, affect firm performance. The paper offers empirical evidence from a panel of Italian closely held firms over the period 2009–2014. Research Findings/Insights. We explore the principal–principal conflicts among blockholders across two distinct control structures. When a single blockholder controls the firm, principal–principal conflicts are shaped by the trade‐off between the alignment effect and the monitoring effect. In this scenario, we find that the relationship between the two largest blockholders' …

The influence of corporate governance's decision on corporate social responsibility

2018

The need for an accurate and detailed disclosure, the need to understand the mechanisms of government under which the company is managed and controlled, are the starting point of the choices of the many stakeholders that revolve around the company. A large number of players is interested in corporate governance are among these, not only the major shareholders, but also an increasing number of small investors. CSR is an extension of firms efforts to foster effective corporate governance, ensuring firms sustainability via sound business practices that promote accountability and transparency. rnThe paper aims to explore the impact that various corporate governance mechanisms have on the commit…

Code-share connectivity within global airline alliances – How much potential is utilized?

2017

Abstract This paper analyzes the code-share connectivity of carriers from the three global alliances: Star Alliance, Sky Team and oneworld. We generate 2-leg online and code-share connections to evaluate the existing connectivity. Additionally, we generate all potential interline connections between members of the same alliance that are not yet supported with existing code-shares and analyze what share of the potential connectivity remains unused. We find that code-share connections account to about one-fourth of the total number of international connections offered by alliance members. 73% of those code-share connections are with partners from the same alliance, 6% with carriers from compe…

Determining the best shipper sizes for sending products to customers

2014

A distribution company has to send products, packed into shippers, from the warehouse to retail shops. The number of different shipper types is regarded as a parameter given by the user, who is looking for a balance between transportation costs and stock and procurement costs. The problem is to decide the sizes of the shipper types to keep at the warehouse so as to minimize the cost of meeting the forecasted demand over the planning horizon. In this paper, we describe an integer linear programming formulation for the problem and obtaining feasible solutions. Other models, based on multiknapsack and p-median and facility location models, are for obtaining lower bounds. We study several ways …

Competition for long-haul connecting traffic among airports in Europe and the Middle East

2017

Abstract This paper analyzes the competitive position of major hub airports in Europe and the Middle East for long-haul connecting traffic. We apply a connection builder to construct competitive flight connections. A stand out feature of the proposed connection builder is the calibration of the model parameters using booking data, composed of actual passenger demand between a given origin and destination (O&D) market. The methodology is applied to measure competition between hubs using flight schedule data to calculate connectivity measures like the number of city-pairs connected via a hub airport. Our results show that the Middle Eastern hubs have improved their competitive position, while…

Competition and cooperation for intermodal container transhipment: A network optimization approach

2018

Abstract This study presents an analysis of cross-border competition and cooperation between ports in Bangladesh and India. Nepal and Bhutan are countries without access to seaports — two landlocked countries in South Asia, depending solely on the Indian port of Kolkata for their international seaborne trade. Alternatives do exist in the Bangladeshi ports of Chittagong and Mongla but these are not exploited, in spite of trade agreements that allow access to a third country's port, and/or crossing the land of a third, intermediate, country. We formulate a mixed integer linear programming optimization model to find the optimum economic benefit of port users (serving Bhutan, Nepal and Northeas…

The humanities are not our patient

2021

When inviting contributions to a special issue of this journal titled ‘Management Learning and the Unsettled Humanities’ the guest editors did not simply encourage contributors to explore possibilities ‘for reciprocal integration’ between the two realms. Stressing that ‘the humanities . . . [are] facing a complex crisis on their own’, they stated that ‘the humanities . . . need to be enriched, nuanced, and critiqued through . . . the ideas and perspectives of organisational research’. While we may agree that all is not well in the humanities and share their scepticism towards ‘just prescribing the value of the humanities to ameliorate the ills of management education’, we are less confiden…