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- All Subjects: management
- All Subjects: enterprise performance
- Creators: Certo, S. Trevis
Description
This dissertation integrates research on boards of directors with human and social capital perspectives to examine board appointments. A director's appointment to a board is in part due to the belief that the individual can contribute critical resources and monitoring to the organization. The ability of a director to provide these resources and monitoring depends on his or her level of human and social capital. This dissertation more fully integrates human and social capital perspectives into our understanding of board appointment events. From these theoretical underpinnings, a model is developed proposing that several human and social capital indicators, including educational level, expertise, director experience, and access to network structural holes, affect the likelihood of joining a new board, joining a prestigious board, and exiting a current board. I also consider a number of contextual- and individual-level variables that may potentially moderate the relationship between a director's human and social capital and director mobility. Through this dissertation, I make a number of contributions to the literatures on boards, board appointments, and human and social capital. First, I offer a more comprehensive perspective of the board appointment process by developing an individual-level perspective of board appointments. Second, I contribute to a more comprehensive understanding of the market for corporate directors. Third, I focus on several salient dimensions of director mobility. Fourth, I contribute to the growing literature on human and social capital at the board and director levels. Finally, I add to the growing literature on director selection.
ContributorsWithers, Michael C (Author) / Hillman, Amy J. (Thesis advisor) / Certo, S. Trevis (Committee member) / Khanna, Poonam (Committee member) / Arizona State University (Publisher)
Created2011
Description
Entrepreneurship entails a transition from status quo to a founder/leader of a new organization, and the dominant view in the literature focuses on opportunities in a hypothetical situation, namely an entrepreneurial option. This study shifts the attention from an entrepreneurial option to a current situation and proposes that a perception of costliness in status quo as a driver of entrepreneurial decisions and strategies. Specifically, I propose that a perception of inequality due to the local hierarchy of an organization engenders motivation of disadvantaged employees to become a leader of his/her own entrepreneurial organization. Utilizing hierarchy-based power dynamics and attribution biases, I theorize that i) status gap between a leader and a member and ii) status distinctiveness of a leader in the current organization affect an entrepreneurial decision because of inequality perception. Furthermore, I hypothesize that entrepreneurial organizations driven by such status inequality are more likely to replicate the local structure of the previous employer in terms of status hierarchy to compensate for the perceived disadvantages in the previous employer. The empirical analyses of this study investigate entrepreneurial decisions and entrepreneurial team formation of jazz musicians from jazz discographies between 1950 and 2018, and I found supportive results. This study contributes to the entrepreneurship and inequality literature by bridging two research spaces. It first uncovers the roles of a negative perception of the status quo in entrepreneurship, in addition to the established idea of a positive perception of an alternative option. It also suggests a novel explanation of the long-standing question of inequality reproduction by looking at whether and how inequality spreads via entrepreneurship.
ContributorsJeon, Chunhu (Author) / Shen, Wei (Thesis advisor) / Bundy, Jonathan N (Thesis advisor) / Certo, S. Trevis (Committee member) / Arizona State University (Publisher)
Created2022
Description在日趋复杂动态的环境中，如何提高企业的绩效不仅是企业家最感兴趣的事情，也是众多学者进行企业管理方面研究的落脚点。从目前战略执行力的研究现状来看，一些学者对战略执行力的性质和构成进行了研究，并取得了一定的成果。但这些研究多为描述性分析，实证研究较少，且较为分散，尚未形成较为完整的分析框架。对于战略执行力、员工生产力与企业绩效关系的研究则更少。因此，本研究将通过对现有文献的分析和梳理，研究战略执行的本质及其构成并进一步研究战略执行力与企业绩效的关系及其作用机理。
ContributorsLiu, Baozhong (Author) / Shen, Wei (Thesis advisor) / Shi, Weilei (Thesis advisor) / Huang, Xiaochuan (Committee member) / Arizona State University (Publisher)
Created2023
Description
This dissertation examines the impact of chief executive officers’ (CEO) numeracy on strategic decisions and outcomes. CEO numeracy refers to the capacity of a CEO to perform one or more mental activities on information and/or concepts that are numerical in nature. Although numeracy is widely studied in disciplines such as health sciences, education, and psychology and is commonly associated with superior and more effective decision making, it is largely missing from organizational scholarship. Numeracy is particularly relevant in the context of top management teams as the conditions in which executives operate compromise the effectiveness of strategic decision making. As such, I examine the effect of CEO numeracy on acquisition decisions and outcomes. Despite global growth in acquisition investments over the years, studies suggest that acquisitions more often erode instead of improve acquiring firm value. Therefore, I propose that CEO numeracy is negatively associated with acquisition decisions such as the number of acquisitions, value of acquisitions, and number of large acquisitions undertaken by a firm. Moreover, among CEOs that engage in acquisitions, I propose that more numerate CEOs will experience better acquisition-related outcomes compared to less numerate CEOs. Specifically, I hypothesize that CEO numeracy is negatively related to acquisition premiums and positively related to post-acquisition performance. I use a longitudinal sample comprised of 250 randomly selected U.S. based firms from the S&P 500 index to empirically test my hypothesized relationships. Furthermore, I use CEO-attributed text from earnings calls transcripts and a closed-language analytical approach to develop a novel and accessible measure of CEO numeracy. My analyses did not yield support for my hypotheses. I discuss potential theoretical and empirical explanations for the null findings in my research and propose directions to mitigate those issues in future research.
ContributorsAlbader, Latifa A H M H (Author) / Certo, S. Trevis (Thesis advisor) / Bundy, Jonathan (Committee member) / Zhu, David (Committee member) / Arizona State University (Publisher)
Created2023
Description冷链物流主要是指食品在生产到消费者食用前始终处于适宜的温度环境，以保障食品品质、降低流通过程中的损耗。冷链物流相比于传统物流而言是一项更复杂的系统性工程，受到政策和市场需求的影响呈现迅猛发展态势。但是，冷链物流企业长期以来因规模小、固定资产少、服务范围窄、服务规范性弱而发展困难重重，核心问题是资金的问题。政府引导和鼓励打造冷链物流产业园，推动产业园投资和建设主体打造平台，实现对园区内冷链企业的聚集效应并通过金融服务解决企业发展的资金问题。通过产融结合助力冷链物流企业发展，成为目前冷链物流行业发展的主要方式和未来趋势。
本研究聚焦冷链物流产业园金融服务助力冷链物流企业发展问题，主要研究内容包括：第一，基于产融结合理论，梳理冷链物流企业与产业园之间关系，从供需两侧探索冷链物流企业和产业园的金融服务的范围、类型和特点。第二，基于平台理论，构建冷链物流企业采纳产业园金融服务的研究模型，探索金融服务影响冷链物流企业的经营因素，分析冷链物流企业采纳产业园金融服务的因素和途径。第三，基于信息不对称理论，关切信息技术支持和知识分享在冷链物流企业采纳产业园提供金融服务过程中的调节作用。同时，梳理产业园提供金融服务可能面临哪些风险，制订冷链物流企业入驻园区的标准，防范风险。
本文运用实证研究方法，通过对国内18家冷链物流相关的产业园、物流园、冷链物流、商贸流通、金融等企业实地考察和专家访谈基础上，拟定问卷并对268家企业进行调查收集数据，使用结构方程模型进行假设检验。研究发现：金融服务的有形性、可靠性、移情性、经济性对冷链物流企业采纳产业园金融服务影响显著，而响应性的影响不显著。同时
信息技术支持和知识共享的调节作用不显著。最后，针对产业园吸引冷链物流企业提供金融服务、冷链物流企业采纳产业园金融服务的风险，提出防范策略措施。
本研究聚焦冷链物流产业园金融服务助力冷链物流企业发展问题，主要研究内容包括：第一，基于产融结合理论，梳理冷链物流企业与产业园之间关系，从供需两侧探索冷链物流企业和产业园的金融服务的范围、类型和特点。第二，基于平台理论，构建冷链物流企业采纳产业园金融服务的研究模型，探索金融服务影响冷链物流企业的经营因素，分析冷链物流企业采纳产业园金融服务的因素和途径。第三，基于信息不对称理论，关切信息技术支持和知识分享在冷链物流企业采纳产业园提供金融服务过程中的调节作用。同时，梳理产业园提供金融服务可能面临哪些风险，制订冷链物流企业入驻园区的标准，防范风险。
本文运用实证研究方法，通过对国内18家冷链物流相关的产业园、物流园、冷链物流、商贸流通、金融等企业实地考察和专家访谈基础上，拟定问卷并对268家企业进行调查收集数据，使用结构方程模型进行假设检验。研究发现：金融服务的有形性、可靠性、移情性、经济性对冷链物流企业采纳产业园金融服务影响显著，而响应性的影响不显著。同时
信息技术支持和知识共享的调节作用不显著。最后，针对产业园吸引冷链物流企业提供金融服务、冷链物流企业采纳产业园金融服务的风险，提出防范策略措施。
ContributorsYang, Su (Author) / Shen, Wei (Thesis advisor) / Chen, Xinlei (Thesis advisor) / Gu, Bin (Committee member) / Arizona State University (Publisher)
Created2019
Description
In accordance with the Principal Agent Theory, Property Right Theory, Incentive Theory, and Human Capital Theory, firms face agency problems due to “separation of ownership and management”, which call for effective corporate governance. Ownership structure is a core element of the corporate governance. The differences in ownership structures thus may result in differential incentives in governance through the selection of senior management and in the design of senior management compensation system. This thesis investigates four firms with four different types of ownership structures: a public listed firm with the controlling interest by the state, a public listed firm with a non-state-owned controlling interest, a public listed firm a family-owned controlling interest, and a Sino-foreign joint venture firm. By using a case study approach, I focus on two dimensions of ownership structure characteristics – ownership diversification and differences in property rights so as to document whether there are systematic differences in governance participation and executive compensation design. Specifically, I focused on whether such differences are reflected in management selection (which is linked to adverse selection and moral hazard problems) and in compensation design (the choices of performance measurements, performance pay, and in stock option or restricted stock). The results are consistent with my expectation – the nature of ownership structure does affect senior management compensation design. Policy implications are discussed accordingly.
ContributorsGao, Shenghua (Author) / Pei, Ker-Wei (Thesis advisor) / Li, Feng (Committee member) / Shen, Wei (Committee member) / Arizona State University (Publisher)
Created2015
Description
Managers’ control over the timing and content of information disclosure represents a significant strategic tool which they can use at their discretion. However, extant theoretical perspectives offer incongruent arguments and incompatible predictions about when and why managers would release inside information about their firms. More specifically, agency theory and theories within competitive dynamics provide competing hypotheses about when and why managers would disclose inside information about their firms. In this study, I highlight how voluntary disclosure theory may help to coalesce these two theoretical perspectives. Voluntary disclosure theory predicts that managers will release inside information when managers perceive that the benefits outweigh the costs of doing so. Accordingly, I posit that competitive dynamics introduce the costs associated with disclosing information (i.e., proprietary costs) and that agency theory highlights the benefits associated with disclosing information. Examining the context of seasoned equity offerings (SEOs), I identify three ways managers can use information in SEO prospectuses. I hypothesize that competitive intensity increases proprietary costs that will reduce disclosure of inside information but will increase discussing the organization positively. I then hypothesize that capital market participants (e.g., security analysts and investors) may prefer managers to provide more, clearer, and positive information about the SEO and their firms. I find support for many of my hypotheses.
ContributorsBusenbark, John R (Author) / Certo, S. Trevis (Thesis advisor) / Semadeni, Matthew (Committee member) / Cannella, Albert (Committee member) / Arizona State University (Publisher)
Created2017