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JournalISSN: 1544-1458

Academy of Strategic Management Journal 

Allied Academies
About: Academy of Strategic Management Journal is an academic journal published by Allied Academies. The journal publishes majorly in the area(s): Strategic management & Competitive advantage. It has an ISSN identifier of 1544-1458. Over the lifetime, 911 publications have been published receiving 5658 citations.


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Journal Article
TL;DR: Signaling is all around us in our everyday lives as mentioned in this paper, people signal by the way they carry themselves, speak, and interact, and organizations signal as well in their advertisements, recruiting, and annual reports, just to name a few.
Abstract: Signaling is all around us in our everyday lives People signal by the way they carry themselves, speak, and interact Organizations signal as well in their advertisements, recruiting, and annual reports, just to name a few In this article we consider the influence of Spence's (1973) seminal article on signaling theory We trace signaling theory's impact on management, psychology, and anthropology We propose a model of the relationship among information, signaling, and perceptions Finally, we suggest areas of further research in signaling theory based on where it has been, where it is today, and our proposed model INTRODUCTION Signaling is all around us in our everyday lives People signal by the way they cany themselves, speak, and interact Organizations signal as well in their advertisements, recruiting, and annual reports, just to name a few In this article we consider the influence of Spence' s (1973) seminal article on signaling theory We trace signaling theory's impact on management, psychology, and anthropology We propose a model of the relationship among information, signaling, and perceptions Finally, we suggest areas of further research in signaling theory based on where it has been, where it is today, and our proposed model SIGNALING THEORY: PAST Spence (1973) provides a hypothetical example of how signaling affects job choice in the market He starts with an introduction that ironically signals to the reader a level of uncertainty about Spence's own abilities His abilities, however, are shortly proven and the investment in the article quickly shows purpose Spence (1973) describes the hiring process as an investment and likens it to playing the Lottery He goes on to say that the wage is the marginal contribution that an employer will pay for representation in this Lottery But just as the final number is picked in a Lottery you do not know until that happens if you made the correct investment or not These unknowns are better explained by observable personal attributes described as Signals But as Spence (1973) states not all attributes are fixed (Indices), some are alterable (Signals) Indices are defined as unalterable pieces of data that include sex, gender, race, and other unalterable attributes Signals and indices are regarded as parameters in shining conditional probability distributions that define an employer's beliefs (Spence, 1973) In this lottery of hiring the employer's risk is neutral, and each of the signals/indices are neutral as described by Spence in the article However, these signals to the individuals are manipulatable but costly Spence (1973) says that a signal can not distinguish one applicant from another unless the costs of signaling are correlate negatively with productive ability For example a college degree is becoming a non-distinguishable signal in which everyone is investing which ironically, in effect, makes it indistinguishable amongst job candidates However, equilibrium is reached when the signals portrayed by an applicant are received by an employer An equilibrium can be thought of as a set of employer beliefs that generate offered wage schedules, applicant signaling decisions, hiring, and ultimately new market data over time that are consistent with the initial beliefs (Spence, 1973) This may not happen for many hiring and interviewing rounds, but could be likened to the hiring of junior accountants every spring from college, with special attention paid to their education Each year, hiring through interviewing takes place, and equilibrium begins to crystallize based upon this year's new hires versus last year's results These signals need to be negatively correlated but, as Spence stated, effective signaling depends not only upon the negative correlation of costs and productivities, but also upon there being a "sufficient" number of signals within the appropriate cost range (Spence, 1973) …

84 citations

Journal Article
TL;DR: In this paper, the authors examine the effect of new governmental regulations on corporate boards of directors (BODs) and examine the predictions of both agency theory and resource dependence theory regarding both the structure and actions of BODs in times of governmental regulatory change.
Abstract: This paper investigates the effect of new governmental regulations on corporate Boards of Directors (BODs). We have reviewed the literature pertaining to agency theory and resource dependency theory, both of which have been assumed to explain the actions of BODs. We examine the predictions of both agency theory and resource dependence theory regarding both the structure and actions of BODs in times of governmental regulatory change. We then describe four historical events in which radical changes were required by certain governmental regulations, and discuss responses by BODs to each event, and present a discussion of these responses and how they adhere to or stray from the predictions of both agency theory and resource dependence theory. We conclude the paper with recommendations for the direction of further study. INTRODUCTION Organizational theorists have examined the role of corporate boards of directors (BODs) from many different perspectives. Two major theoretical perspectives that provide insight into the role and structure of BODs are agency theory and resource dependency theory (Hillman, Cannella and Paetzold, 2000). In addition to academic attention, BODs have received much attention from the popular press as well. The most recent proliferation of attention paid to BODs is largely due to the Sarbanes-Oxley Act and the instigating events that led to its passage in 2002. The Sarbanes-Oxley Act of 2002, among other requirements, mandates strict controls by and of corporate boards of directors. Sarbanes-Oxley was passed in reaction to a series of corporate scandals of the late 1990s and early 2000s including at Enron, Tyco International, and WorldCom. Because of the impact of the Sarbanes-Oxley Act of 2002 on BODs, many questions have arisen in regards to the roles, responsibilities, accountabilities, and structures of BODs. Is the role of the BOD primarily administrative oversight and control, or is it primarily boundary spanning and environment linking? How can the BOD best be held accountable for the actions of the corporation? Are there corporate stakeholders outside of the shareholders to whom the BOD is also to be held accountable? What proportion of the BOD should be comprised of insiders and what proportion should be outsiders? Is the insider / outsider taxonomy the best way to categorize board members? Although one of the most recent and salient, the Sarbanes-Oxley Act of 2002 is not the first government mandated regulation that requires major changes to be made by BODs. The 1978 deregulation of the United States Airline Industry and the 1980 deregulation of Savings and Loans associations followed by the subsequent Financial Institutions Reform, Recovery & Enforcement Act of 1989 are two additional examples of times that regulatory actions by the United States government caused major changes to be made by BODs. A third example of governmental actions requiring changes to be made by BODs is the Canadian government's 1983 amateur sports "Best Ever" program. It required radical changes of the volunteer BODs of Canada's National Sport Organizations (NSOs) (Amis, Slack, and Hinings, 2004a). The intent of this paper is to consider the tenets of agency theory and resource dependency theory as they relate to the responses made by BODs in the face of major government regulated changes. In the remainder of this paper, we will first highlight the generally accepted major roles and responsibilities of BODs. This will provide a solid framework from which to examine the theoretical perspectives of agency and resource dependency regarding BODs. After highlighting the roles and responsibilities of BODs, we will then examine agency theory and resource dependency and their relation to BODs. Next, we consider four historical examples - the Sarbanes-Oxley Act of 2002, the 1978 deregulation of the United States airlines industry, the changes in Savings and Loans regulations of the 1980s, and Canada's Best Ever amateur sports initiative of 1983 - as the contexts in which we will examine some historical responses of BODs to these government regulated changes. …

62 citations

Journal Article
TL;DR: Yoo et al. as mentioned in this paper proposed and developed three different human resource strategies and three different reward systems that are suited to each human resource strategy and thoroughly designated three alternatives of reward systems to fit Porter's (1 980, 1 985) generic strategies above.
Abstract: Competitiveness is inevitable in highly dynamic and uncertain environments. Business strategy is concerned with how businesses achieve a competitive advantage. Its implementation involves the fit between the organization's business strategy and its internal processes. An appropriate match enhances organizational effectiveness and generates superior performance. A strategic fit between a business strategy anda human resource strategy can help retain and motivate employees and translate into organizational performance and competitive advantage. Based on Porter's generic strategies as business competitive strategies and an extensive literature review, this study proposes and develops three different human resource strategies. We also thoroughly designate three alternatives of reward systems that are suited to each human resource strategy. Through a close linkage among business competitive strategy, human resource strategy, and reward systems, we hope to provide mangers with directions for designing and implementing an appropriate reward systems under various business competitive strategies and help firms to create competitive advantage effectively. INTRODUCTION In recent years, there has been marked increase in competition in virtually all areas of business. The ability to outperform competitors and produce above average profits lies in the pursuit and execution of an appropriate business strategy (Yoo, Lemak & Choi, 2006). This has resulted in greater attention to analyzing competitive strategies under different environmental conditions. Porter (1985) argued that the three generic strategies that require different resources, organizational arrangements, control procedures, styles of leadership, and incentive systems could translate into organizational performance and competitive advantage. According to the resource-based view, the firm is regarded as a unit of resources and capabilities. The acceptance of this concept has prompted interest in identifying the nature of these various resources and in evaluating their potential to generate a competitive advantage (Lopez, 2005). As a result, the resource-based view provides a logical link between human resource management and strategie management. Furthermore, according to the contingency view, there is no one best way to structure an organization; it all depends on the particular circumstances facing the organization. In this case, human resource strategy must fit with specific business strategy (Porter, 1985). The concept of fit refers mainly to the close connection between human resource strategies and business strategies in ways that will help retain and motivate employees. Employees are the human capital of an organization. Organizations have the ability to reward employees in many ways (Lawler & Worley, 2006). To attract, retain and motivate employees, the company must implement an appropriate reward systems. The objective of this reward systems is to encourage desired employee behaviors to ensure the success of human resource strategies. Therefore, designing and implementing an appropriate reward systems that complements human resource strategies and fits business competitive strategies is currently an important issue. The deployment of a strategy requires a focus on the organization's business processes (Reidenbach & Goeke, 2007). Based on an extensive literature review, this paper cites Porter's (1980, 1985) generic strategies as business competitive strategies, and then deduces and develops three different human resource strategies. At the same time, we designate three alternatives of reward systems to fit Porter's (1 980, 1 985) generic strategies above. To support the human resource strategies and facilitate the implementation of generic strategy, each reward systems must be tied to some alternatives with identifiable attributes, activities or contents. We have labeled these reward systems as human capital, output, and position reward alternatives, according to different human resource strategies and business competitive strategies. …

61 citations

Journal Article
TL;DR: A mathematical model is provided for structural analysis of costs by phases of energy efficiency project life cycle based upon target costing, which is expedient to be employed at the stage of designing the new energy system or upgrading the existing one with the help of marketing research.
Abstract: The article provides a mathematical model for selection of energy efficiency projects under the objective of maximizing the economic impact, which accounts for economic constituents (project life-cycle costs, budget for realization of projects, cost of delay) as well as social and environmental effects. The methodology is applied for structural analysis of costs by phases of energy efficiency project life cycle based upon target costing, which is expedient to be employed at the stage of designing the new energy system or upgrading the existing one with the help of marketing research.

60 citations

Journal Article
TL;DR: In this paper, the authors report the comparative analysis of small business strategic orientations based on the presence of aggressiveness, futurity, riskiness, proactiveness and analysis and defensiveness for performance.
Abstract: Strategic orientations are widely required and considered for the survival and sustainability of small businesses. This study reports the comparative analysis of small business strategic orientations based on the presence of aggressiveness, futurity, riskiness, proactiveness and analysis and defensiveness for performance. For proper projection, four hypotheses were formulated. Survey research design, purposive and simple random sampling technique were adopted for the study. Data were collected from selected Covenant University strategic business Units through the administration of questionnaires were sorted and analyzed using descriptive statistics, regression and Pearson correlation analysis. The study revealed a positive effect between the various variables; product innovation and revenue turnover; research development and customer patronage; technological innovation and return on investment. Therefore it was recommended that SMEs need be innovative and proactive as possible to enable their optimal navigation and improved productivity in whatever business environments they operate and also to foster more strategic improvisational actions that can bring out change, enhance operational efficiency and contribute to organizational performance and competitive advantage.

59 citations

Performance
Metrics
No. of papers from the Journal in previous years
YearPapers
202210
2021157
2020116
2019161
2018140
201784