Texas Christian University

About: Texas Christian University is a education organization based out in Fort Worth, Texas, United States. It is known for research contribution in the topics: Population & Poison control. The organization has 3245 authors who have published 8258 publications receiving 282216 citations. The organization is also known as: TCU & Texas Christian University, TCU.

Venture Capital in Emerging Economies: Networks and Institutional Change

Abstract: Emerging economies are characterized by fundamental and comprehensive institutional transformations as their economies begin to mature. How venture capitalist functions in environments that differ so fundamentally from those of the mature markets where venture capital was initially developed has only begun to be addressed. This article builds a framework to further the understanding of venture capital practice in emerging markets. Specific attention is focused on the impact of networks in the model, in particular, how networks and other informal institutions can act to supplement or replace formal institutions when they are weak. The article goes on to examine what the implications are for venture capital and the role of informal institutions in emerging economies as formal institutions become more established. The research and resulting model is grounded in 65 semistructured interviews with venture capitalists in emerging economies around East Asia. This article contributes to the literature by drawing attention to the impact of networks and changing institutional environments on venture capital during different phases of an economic transition process in emerging economies. The findings have implications for understanding institutional impact on venture capital activity as well as entrepreneurs and entrepreneurial ventures that seek venture capital financing in emerging economies.

The Impact of Selected Environmental Forces Upon Consumers' Willingness to Buy Foreign Products:

Abstract: The purpose of this study was to measure the effects of foreign economic, political, and cultural environments on American consumers' willingness to buy foreign products. Results of a self-administered mail questionnaire revealed that respondents were most willing to buy products from economically developed free countries with a European, Australian, or New Zealand culture.

Has the Use of Peer Groups Contributed to Higher Pay and Less Efficient Compensation

Abstract: We provide empirical evidence on how the practice of competitive benchmarking affects CEO pay. We find that the use of benchmarking is widespread, and has a significant impact on levels and changes in CEO compensation. The practice is controversial and one view is that it is inefficient because it can lead to increases in executive pay that are not tied to firm performance. A contrasting view is that benchmarking can be a practical and efficient mechanism to gauge the market wage necessary to retain valuable human capital. Our empirical results provide some support for the latter view. We find that firms use competitive benchmarking to gauge the reservation wage necessary for retention. Our analysis also provides an alternative explanation for the documented asymmetry in the relationship between CEO pay and luck, which has previously been attributed to rent seeking behavior.

Resource Management in Dyadic Competitive Rivalry: The Effects of Resource Bundling and Deployment

Abstract: Although resources are instrumental to a competitive advantage, management must effectively bundle and deploy an organization's resources for an advantage to be realized. Despite their importance, little research has examined these managerial actions. Using a sample of competitive dyads, we tested theory regarding the effects of rivals' comparative resource stocks and managers' bundling and deployment actions on competitive outcomes. Results indicate that both comparative advantages in resource stocks and managerial actions affect performance. However, their efficacy depends on contextual factors and the deployment flexibility of specific resources. Thus, resource management actions are critical to achieving and sustaining competitive advantage.