Journal ArticleDOI
Interlocks and firm performance: The role of uncertainty in the directorate interlock‐performance relationship
TLDR
Using a sample of 3,745 firms across manufacturing industries in the United States during the period 2001-2009, support is found for the moderation argument and less convincing support for mediation, suggesting that firms may not form interlocks necessarily to reduce uncertainty.Abstract:
We examine how uncertainty influences the performance effects of directorate interlocks. Our study offers a new perspective of directorate interlocks as mechanisms that enable firms to improve performance when confronted with greater uncertainty, suggesting that uncertainty positively moderates the interlock-performance relationship. This contrasts with the view based on resource dependence theory suggesting networks reduce uncertainty and enhance firm performance, implying that uncertainty mediates the interlock effect upon performance. Using a sample of 3,745 firms across manufacturing industries in the United States during the period 2001-2009, we find support for the moderation argument and less convincing support for mediation, suggesting that firms may not form interlocks necessarily to reduce uncertainty. Instead, firms may create interlocks to enable adaptation and enhance performance when confronted by uncertainty.read more
Citations
More filters
Journal ArticleDOI
Business group affiliation and post-acquisition performance: An extended resource-based view
TL;DR: In this paper, the authors proposed that business group affiliated firms leverage their affiliation advantages to attain superior long-term acquisition performance, relative to standalone firms, especially in emerging economies such as India, and hypothesize that both within-group heterogeneity, manifested as prior group experience, group diversification, and intra-group variation in the form of horizontal ties through boards of directors, also affect the longterm post-acquisition performance of affiliated firms.
Journal ArticleDOI
CEO Risk-Taking and Socioemotional Wealth: The Behavioral Agency Model, Family Control, and CEO Option Wealth:
TL;DR: The authors combine behavioral agency and family business literature to analyze the role of dominant firm principals in constraining the managerial agent's (CEO's) response to equity-based pay, and find that dominant firms have a strong influence on the CEO's response to pay.
Journal ArticleDOI
Toward a Framework of Leader Character in Organizations
TL;DR: In this paper, a framework of leader character is proposed, which provides rigor through a three-phase, multi-method approach involving 1,817 leaders, and relevance by using an engaged scholarship epistemology to validate the framework with practicing leaders.
Journal ArticleDOI
Does country-level R&D efficiency benefit from the collaboration network structure?
TL;DR: The results not only reconfirm that collaboration network structure influences scientific publications at the country level, but also show that the higher SH, DC, CNC, and BC correlate positively with the better future efficiency.
References
More filters
Book
Social Network Analysis: Methods and Applications
TL;DR: This paper presents mathematical representation of social networks in the social and behavioral sciences through the lens of Dyadic and Triadic Interaction Models, which describes the relationships between actor and group measures and the structure of networks.
Journal ArticleDOI
Specification Tests in Econometrics
TL;DR: In this article, the null hypothesis of no misspecification was used to show that an asymptotically efficient estimator must have zero covariance with its difference from a consistent but asymptonically inefficient estimator, and specification tests for a number of model specifications in econometrics.
Journal ArticleDOI
SPSS and SAS procedures for estimating indirect effects in simple mediation models.
TL;DR: It is argued the importance of directly testing the significance of indirect effects and provided SPSS and SAS macros that facilitate estimation of the indirect effect with a normal theory approach and a bootstrap approach to obtaining confidence intervals to enhance the frequency of formal mediation tests in the psychology literature.
Journal ArticleDOI
Centrality in social networks conceptual clarification
TL;DR: In this article, three distinct intuitive notions of centrality are uncovered and existing measures are refined to embody these conceptions, and the implications of these measures for the experimental study of small groups are examined.
Journal ArticleDOI
The Cross‐Section of Expected Stock Returns
Eugene F. Fama,Kenneth R. French +1 more
TL;DR: In this paper, Bhandari et al. found that the relationship between market/3 and average return is flat, even when 3 is the only explanatory variable, and when the tests allow for variation in 3 that is unrelated to size.