Relationship marketing—establishing, developing, and maintaining successful relational exchanges—constitutes a major shift in marketing theory and practice. After conceptualizing relationship marke...

The Commitment-Trust Theory of Relationship Marketing

Scholars in various disciplines have considered the causes, nature, and effects of trust. Prior approaches to studying trust are considered, including characteristics of the trustor, the trustee, and the role of risk. A definition of trust and a model of its antecedents and outcomes are presented, which integrate research from multiple disciplines and differentiate trust from similar constructs. Several research propositions based on the model are presented.

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An Integrative Model Of Organizational Trust

How has Japan become a major economic power, a world leader in the automotive and electronics industries? What is the secret of their success? The consensus has been that, though the Japanese are not particularly innovative, they are exceptionally skilful at imitation, at improving products that already exist. But now two leading Japanese business experts, Ikujiro Nonaka and Hiro Takeuchi, turn this conventional wisdom on its head: Japanese firms are successful, they contend, precisely because they are innovative, because they create new knowledge and use it to produce successful products and technologies. Examining case studies drawn from such firms as Honda, Canon, Matsushita, NEC, 3M, GE, and the U.S. Marines, this book reveals how Japanese companies translate tacit to explicit knowledge and use it to produce new processes, products, and services.

The knowledge-creating company : how Japanese companies create the dynamics of innovation

Most theorizing on the relationship between corporate social/environmental performance (CSP) and corporate financial performance (CFP) assumes that the current evidence is too fractured or too variable to draw any generalizable conclusions. With this integrative, quantitative study, we intend to show that the mainstream claim that we have little generalizable knowledge about CSP and CFP is built on shaky grounds. Providing a methodologically more rigorous review than previous efforts, we conduct a meta-analysis of 52 studies (which represent the population of prior quantitative inquiry) yielding a total sample size of 33,878 observations. The meta-analytic findings suggest that corporate virtue in the form of social responsibility and, to a lesser extent, environmental responsibility is likely to pay off, although the operationalizations of CSP and CFP also moderate the positive association. For example, CSP appears to be more highly correlated with accounting-based measures of CFP than with market-based ...

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Corporate Social and Financial Performance: A Meta-Analysis

We investigate the relation between founding-family ownership and firm performance. We find that family ownership is both prevalent and substantial; families are present in one-third of the S&P 500 and account for 18 percent of outstanding equity. Contrary to our conjecture, we find family firms perform better than nonfamily firms. Additional analysis reveals that the relation between family holdings and firm performance is nonlinear and that when family members serve as CEO, performance is better than with outside CEOs. Overall, our results are inconsistent with the hypothesis that minority shareholders are adversely affected by family ownership, suggesting that family ownership is an effective organizational structure. FOUNDING-FAMILYOWNERSHIPAND CONTROL in public U.S. firms is commonly perceived as a less efficient, or at the very least, a less profitable ownership structure than dispersed ownership. Fama and Jensen (1983) note that combining ownership and control allows concentrated shareholders to exchange profits for private rents. Demsetz (1983) argues that such owners may choose nonpecuniary consumption and thereby draw scarce resources away from profitable projects. Shleifer and Vishny (1997) observe that the large premiums associated with superiorvoting shares or control rights provide evidence that controlling shareholders seek to extract private benefits from the firm. More generally, firms with large, undiversified owners such as founding families may forgo maximum profits because they are unable to separate their financial preferences with those of outside owners.1 Families also often limit executive management positions to family

https://www.jstor.org/stable/pdfplus/3094581.pdf

Founding-Family Ownership and Firm Performance: Evidence from the S&P 500

The purpose of this study was to investigate the validity of several theoretical frameworks which make different predictions about the effect of board structures on firm performance. The choice of theories was based on recognition of their prominence in governance research. The empirical analysis first tested board independence hypotheses based on two competing theories: agency and stewardship. Agency theory, with its origins in finance and economics, has received much support in academic circles. However, recently it has been challenged by stewardship theory (Donaldson & Davis 1991), which is derived from the disciplines of sociology and psychology. Stewardship predictions regarding board independence are directly opposed to those of agency theory.

Stewardship Theory and Board Structure: a contingency approach

Boards and Company Performance ‐ Research Challenges the Conventional Wisdom

1. Anti-management paradigms in organization theory 2. Structural contingency theory of organizational adaptation 3. A critique of population-ecology theory 4. A critique of institutional theory 5. A critique of resource dependence theory 6. A critique of organizational economics 7. Towards a unified theory of organizational structure 8. A way forward for organizational structural theory.

American Anti-Management Theories of Organization: A Critique of Paradigm Proliferation

The Normal Science of Structural Contingency Theory

Comparative, contingency approaches to organization structure have been criticized as being inherently static. The present article argues that functionalist theories and quantitative methods can explain structural change. This is exemplified by a diachronic enquiry into strategy and structure. Several propositions about organizational dynamics relating diversification, reorganization and performance are supported. However, the notion of contingency adjustment to structure to attain match as a frequent alternative to structural adjustment to contingencies is not borne out. Neither of the two prevailing theories of structural change, ‘contingency determinism’nor ‘strategic choice’, is completely adequate and a third formulation is advanced: that of ‘structural adjustment to regain fit’.

While structural-functional enquiry into organizations using comparative quantitative methods has yielded information about structural statics, the contribution to knowledge of dynamics seems more problematic. This article seeks to record that structural-functionalism does inform the analysis of organizational change and to show that quantitative contingency approaches can illuminate change if the theory used in the analysis is formalized properly. This involves the partial abandonment of both of the main prevailing theories of structural change: contingency determinism and strategic choice. In their place this article offers as a potentially more fruitful model the structural adaptation to regain fit formulation. Within this the role of performance is shown to be important. The advantage of this framework is demonstrated empirically by means of an examination of the relationship between strategy and structure.

Lex Donaldson

Papers

Stewardship Theory and Board Structure: a contingency approach

Boards and Company Performance ‐ Research Challenges the Conventional Wisdom

American Anti-Management Theories of Organization: A Critique of Paradigm Proliferation

The Normal Science of Structural Contingency Theory

Strategy and structural adjustment to regain fit and performance: in defence of contingency theory