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Opportunism

About: Opportunism is a research topic. Over the lifetime, 2030 publications have been published within this topic receiving 97170 citations. The topic is also known as: opportunist.


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Journal ArticleDOI
TL;DR: In this paper, the corporate governance aspects of a regulatory program aimed to lure Israeli issuers listed only on U.S. markets to dual-list on the Tel Aviv Stock Exchange are considered.
Abstract: This Paper considers the corporate governance aspects of a regulatory program aimed to lure Israeli issuers listed only on U.S. markets to dual-list on the Tel Aviv Stock Exchange. It is a companion to another paper, which analyzes the international regulatory implications of that project (see http://papers.ssrn.com/sol3/papers.cfm?abstract_id=240888). The program provides a rare opportunity to analyze the role of managerial opportunism in foreign listing transactions. In its unique setting, most of the commonly cited motivations for foreign listing are held constant and the costs associated with foreign listing are largely sunk costs. From the vantage-point of most Israeli U.S.-listed issuers, the differences in disclosure duties under the Israeli regime originally intended for them and the American foreign issuer regime refer to corporate governance issues. The staunch resistance from the business and financial sectors to any additional disclosure under Israeli regulation is consistent with managerial reluctance to become subject to a more exacting corporate governance framework. This resistance also sheds light on the role managerial opportunism may play in legislative processes that relate to corporate governance and supports arguments about path dependence in corporate governance systems.

49 citations

Journal ArticleDOI
TL;DR: The Trust Triangle as mentioned in this paper provides a framework to conceptualize the relationships between trust, corporate accountability, legal liability, reputation, and culture, and it can be used to summarize recent developments in empirical finance literature that examine how trust is formed and how trust, or its absence, affects financial markets, firm performance, and the incidence of financial fraud.
Abstract: We propose a construct, the Trust Triangle, that highlights three primary mechanisms that provide ex post accountability for opportunistic behavior and motivate ex ante trust in economic relationships. The mechanisms are (i) a society’s legal and regulatory framework, (ii) market-based discipline and reputational capital, and (iii) culture, including individual ethics and social norms. The Trust Triangle provides a framework to conceptualize the relationships between trust, corporate accountability, legal liability, reputation, and culture. We use the Trust Triangle to summarize recent developments in the empirical finance literature that examine how trust is formed and how trust, or its absence, affects financial markets, firm performance, and the incidence of financial fraud. To date, most studies examine only one leg of the Trust Triangle in isolation. The evidence, however, indicates that all three legs of the Trust Triangle have first-order effects on a wide range of financial outcomes and that they are interrelated. Attempts to model trust and trustworthiness that do not incorporate all three aspects of the Trust Triangle will therefore miss essential aspects of the basic economic problem of how counterparties overcome the risks of moral hazard, asymmetric information, and opportunism to engage in mutually beneficial exchange and production activities. We focus especially on culture-related mechanisms, a recently developed area in empirical finance research that has potential to influence the more established research on laws and reputation.

48 citations

Journal ArticleDOI
TL;DR: In this paper, the authors study intra-organizational conflict between multinational corporations and their foreign subsidiaries regarding technology transfer to emerging markets with a lack of protection of intellectual property rights and suggest conflict design alternatives that maximize the multinational corporations' interest over the interest of the subsidiary.

48 citations

Journal ArticleDOI
TL;DR: Effective advocacy was found to be a dynamic process characterized by flexibility and opportunism within a framework of longer term goals, with shifts in emphasis in response to organizational strengths and a changing environment.
Abstract: Seeking achievement of health equity has underpinned national government and global health policies for decades. However, major difficulties and challenges faced in the practice of achieving 'Health for All' has led to a recognition of the need to broaden the focus of efforts to improve health equity. Civil society groups have been identified as key stakeholders in attempts to achieve health equity, and the importance of strengthening their capacity to influence relevant government policy and practice has been highlighted. This paper presents the results of a qualitative study which examined the role of organizations outside government in advocating for health equity, and the capacities and conditions that were related to their success. In-depth, unstructured interviews were conducted with 26 non-government organizations (NGOs) who were active in three important health policy debates in Australia. The grounded theory method was used to direct data collection and analysis, and member checking was employed to ensure soundness and build ownership of the findings. Effective advocacy was found to be a dynamic process characterized by flexibility and opportunism within a framework of longer term goals. Two key ways of working were identified--in partnership and in conflict with government, with shifts in emphasis in response to organizational strengths and a changing environment. A number of domains of capacity, which together are termed 'capacity for advocacy', were also identified. It is clear that NGOs can learn a great deal from each other, but there needs to be investment by governments, international agencies and NGOs themselves if advocacy for health equity is to be strengthened.

48 citations

Posted Content
01 Feb 2002
TL;DR: In this paper, the authors show that trust and formal control are at least as much complements as they are substitutes, and that trust contracts can be both the basis and the outcome of relations.
Abstract: textThere is a tendency to see trust and control by formal agreements as substitutes. According to transaction cost economics trust is unreliable, and some form of control is needed to reduce hazards of opportunism. According to others, high trust allows for a limited extent of formal control. Formal control signals distrust and thereby evokes reciprocal distrust and formal control. This paper studies all combinations of high/low trust and high/low formal control in four longitudinal case studies. We find that trust and formal control are at least as much complements as they are substitutes. We find that like trust contracts can be both the basis and the outcome of relations.

48 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
202398
2022182
202168
202097
201991
201871