Showing papers by "Maurizio Zollo published in 2007"

The impact of national culture on corporate social performance

Abstract: Purpose – This paper sets out to investigate the effect of differences in national cultures on the social and environmental performance of companies around the world.Design/methodology/approach – Theoretical propositions on how the various dimensions of national culture influence corporate social responsibility are developed and empirically tested.Findings – The authors propose that companies based in countries characterized by higher levels of power distance, individualism, masculinity, and uncertainty avoidance exhibit lower levels of social and environmental performance. Empirical tests of these propositions are performed via pooled ordinary least squares regression models using a novel proprietary dataset on 463 firms from 23 North American, European and Asian countries. Power distance and masculinity are found to have a significant negative effect on corporate social and environmental performance, whereas cultural differences with respect to individualism and uncertainty avoidance have no significant...

Interest Alignment and Competitive Advantage

Abstract: This paper articulates a theory of the conditions under which the alignment between individual and collective interests generates sustainable competitive advantage. The theory is based on the influence of tacitness, context specificity, and causal ambiguity in the determinants of different types of motivation (extrinsic, normative intrinsic, and hedonic instinsic) under varying conditions of environmental dynamism. The analysis indicates the need to consider motivational processes as a complement to current resource and competence-based approaches in a comprehensive theory of competitive advantage.

Understanding the Performance of Corporate Acquisitions

Abstract: This paper examines the concept of acquisition performance to develop and test a model linking the various ways in which scholars have studied it in the past. We propose a model linking task-, transaction- and firm-level constructs under different time horizons and test it with a unique dataset created surveying partners and directors of a major consulting firm advising on the post-acquisition integration process of 146 acquisitions across industries and geographies. Results of factor and structural equations (PLS) analysis reveal that (a) there is no single underlying factor on which all the 9 measures studied load, (b) a causal chain link integration process performance to long-term firm performance (both accounting and financial returns) through the mediating role of customer retention and of overall acquisition performance, and (c) short-term window event studies do not relate to any of the other performance metrics and load on a separate factor. Implications and recommendations are drawn for theory development, research design and data analysis in future studies of acquisition performance, as well as for practicing managers.

Mastering the Language of Integration

Abstract: Senior managers need to define a value-added leadership role for themselves based on a creative and expansive understanding of how the merger affects the corporation. As their integration teams become more proficient and their integration tools and techniques more deeply institutionalized, senior managers’ charge is to resist the emergence of complacency. They must strive for a truly healthy merger. The preceding five chapters on the leadership challenges have provided a view of what this leadership entails — a view grounded in actual leadership experience from many integrations in a diverse set of companies.

Fostering Momentum and Learning

Abstract: During Steve Kaufman’s tenure as CEO from 1986 to 2000, Arrow Electronics developed its post-merger management capabilities to the point where it could complete an integration at breakneck speed. Kaufman and SVP Betty Jane Scheihing, his de facto head of integration, kept up the pace throughout each integration but were particularly active in the days immediately before and after the announcement.

Establishing a New Performance Culture

Abstract: ‘Hey, you know, I’m probably your worst damn nightmare. The evil empire to the south shows up in charge here and it’s somebody from L.A. I mean, if only we could have been from Boston. Any place but L.A.’ Kevin Sharer, CEO of California-based biotech giant Amgen, is in Seattle joking with employees of its 2002 acquisition Immunex. Yet melding together the two corporate cultures was no laughing matter.

The impact of information technology capabilities on alliance scope and performance.

Abstract: This paper investigates the impact of firms' information technology (IT) capabilities on the geographic scope and performance of strategic alliances. Results show that IT capabilities expand allian...