Author: Yu LiuPublisher:
ISBN: 9781109515312
Category :
Languages : en
Pages : 127
Book Description
Three Essays on Corporate Growth Strategy and Firm Performance
Author: Yu LiuPublisher:
ISBN: 9781109515312
Category :
Languages : en
Pages : 127
Book Description
Three Essays on Firm Growth, Innovation, and Persistent Performance
Author: Stefano BianchiniThree Essays on Firm Learning and Performance in the Context of Corporate Divestiture
Author: Patia J. McGrathPublisher:
ISBN:
Category :
Languages : en
Pages : 438
Book Description
The question of whether and how firms learn continues to fuel debate amongst strategic management scholars. Within its answer lies the potential for identifying and capitalizing upon valuable drivers of firm performance advantage. In this dissertation, I take aim at this question by investigating the viability and efficacy of three different learning processes in the context of corporate divestiture. This approach not only permits a comprehensive examination of firm learning, but also affords the opportunity to advance our understanding of a heretofore understudied, but important, mode of corporate development.
Growth of Firms Under Uncertainty
Author: Ashoka ModyPublisher:
ISBN:
Category : Corporations
Languages : en
Pages : 314
Book Description
Three Essays on the Growth of Firms
Author: Paul A. KattumanThree Essays on the Strategic Behavior of Firms
Author: Woosik ChuThe Role of Corporate Social Responsibility to Gain Sustainable Competitive Advantage: Three Essays
Author: Hyunsoon YimPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
While the first two essays study the role of CSR in the alliance context, the third essay will examine how firms' institutional isomorphic efforts influence the CSR-performance relationship. The panel data analysis with over 21,000 firm-year samples indicates that the firm's CSR isomorphic processes enhance the positive CSR-performance relationship. However, the firm's passive strategy to match industry average CSIR further worsens the negative CSIR-performance relationship. The decrease in the industrial ethical norm (industry average growth in CSIR) amplifies the negative impact of CSIR. I hope this dissertation provides meaningful and practical suggestions to academics and practice.
Dissertation Abstracts International
Author: Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 618
Book Description
Three Essays on Financial Markets
Author: Lu ZhangPublisher:
ISBN:
Category : Depressions
Languages : en
Pages : 137
Book Description
This thesis consists of three essays. The first essay studies the ability of stock return idiosyncrasy to predict future economic conditions over time. The second essay investigates the technological innovation and creative destruction during the 1920s and the 1930s, one of the most innovative periods in the 20th century. The third essay tests the performance of an investment strategy using information about past market-wide comovement. Stock return idiosyncrasy, defined as the ratio of firm-specific to systematic risk in individual stock returns, contains information about future growth rate in real GDP, industrial production, real fixed assets investment, and unemployment. Forecasts are generally significant one-quarter-ahead, particularly after World War II. These effects persist after controlling for other potential leading economic indicators, both in-sample and out-of-sample. These findings are consistent with information generating firms, presumably uniquely well-informed about economic conditions because their core business is information, adjusting their information production before downturns. The second essay studies the process of creative destruction during the technological revolution in the 1920s and 1930s. Intensified creative destruction magnifies the performance gap between winner and loser firms, and thus elevates firm-specific stock return variation. We find high firm-specific return variation in innovative industries and firms during the 1920s boom and the subsequent depression. We also find some evidence of elevated firm-specific return variation in manufacturing sectors with higher labor productivity, more research staff and more extensive electrification. In the third essay, we define the directional market-wide comovement measure as the proportion of stocks moving up together. Positing that high comovement reflects large fund inflows, we devise an investment strategy of entering the market whenever positive directional market-wide comovement passes a certain threshold. Specifically, this comovement-based investment strategy holds the market index when the market-wide upward comovement in the prior one to four weeks is above the fourth decile of the historical comovement distribution, and invests in the risk-free asset otherwise. During the sample period of 1954 to 2014, this strategy outperforms the NYSE value-weighted market index by 6.42% per year. Out of sample tests using NASDAQ stocks and TSE stocks validate the strategy. Our findings suggest that marketwide upward comovement identifies periods of market run-ups, when unsophisticated investor buying is apt to be driven by herding or information cascades.
Essays on Firm Strategy and Performance in Emerging Economies
Author: Markus D. TaussigPublisher:
ISBN:
Category : Business planning
Languages : en
Pages : 372
Book Description
"The papers that make up this dissertation aim to marry two extensive academic literatures: i.) the strategy literature, a key tenet of which is that market inefficiencies can be taken advantage of by firms with the right resources; and ii.) the law and finance literature, which shows that strong, predictable government institutions encourage competition and efficient allocation of scarce resources in emerging economies."--Leaf iii.