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Somkiat Mansumitrchai, Michael S. Minor and Sameer Prasad
This study examines the pattern of entry mode strategies of large U.S. and Japanese firms in the years 1987 to 1993. By following a total of 972 transactions, we found the country…
Abstract
This study examines the pattern of entry mode strategies of large U.S. and Japanese firms in the years 1987 to 1993. By following a total of 972 transactions, we found the country of origin of the investment had the most significant effect on the entry mode strategy. Further analysis indicated that U.S. firms favor acquisitions, followed by joint ventures and startups, whereas Japanese organizations prefer joint ventures to acquisitions and startups. In general, multinational firms from both countries avoid startups. Our findings suggest that governments should encourage U.S. investment if they are seeking capital inflows, but encourage Japanese involvement if they want locals to have greater operational control.
James D. Bogert and Shiva Rachakonda
The inverse relationship between means of long‐term economic performance measures of toehold targets and associated investing corporations suggests minority‐level equity holdings…
Abstract
The inverse relationship between means of long‐term economic performance measures of toehold targets and associated investing corporations suggests minority‐level equity holdings may often provide benefits that go beyond the total return provided by dividends and capital appreciation. Like security options, minority investments plausibly limit the downside risk associated with some corporate investment alternatives without limiting the upside potential that can be realized if the toehold target becomes very successful. Thus, a better corporate strategy may be to hold a portfolio of minority‐level equity investments than to hold an option on a mutual fund.
One of the factors that make the divination of public opinion compelling is the decline of party systems and the rise of “individuated politics” (Dalton, 2002a, 2002b, 2006). If…
Abstract
One of the factors that make the divination of public opinion compelling is the decline of party systems and the rise of “individuated politics” (Dalton, 2002a, 2002b, 2006). If individuals are now the major actors in politics and have volatile opinions, then finding out what opinions sectors of the public have, and attempting to shape them, becomes crucial. This circumstance makes the inspection and analysis of mass opinion compelling and significant (see Ginsberg, 1986; Ginsberg & Shefter, 1990; Herbst, 1993). It also makes “public opinion” a compelling abstraction and political force. Finding it and divining its meaning has spawned its own organizational structures and constituencies.
This research presents uncomfortable questions about the viability of alternative energy technologies, which arise during economic contraction and degrowth but are scarcely…
Abstract
Purpose
This research presents uncomfortable questions about the viability of alternative energy technologies, which arise during economic contraction and degrowth but are scarcely addressed within media and academia.
Design/methodology/approach
The author identifies and graphically illustrates differences between media expectations for renewable energy production versus energy reduction strategies. The author contrasts green energy expectations with material factors to develop unasked questions about potential: urban myths (e.g. solar cells are made from sand), assumptions (e.g. alternative energy is of comparable quality to fossil fuel energy and can offset its use), strategic ignorance (e.g. solar cost drops reflect Moore’s law), and trained incapacity (e.g. solar and wind energy is low- or zero-carbon).
Findings
Compared to energy reduction coverage, journalists cover energy production using 1) more character-driven storytelling, 2) about twice the promising language, and 3) far more references to climate change and energy independence. These observations help loosely illustrate a pervasive energy production ethos, a reflexive network including behaviors, symbols, expectations, and material conditions.
Social implications
Fascination with alternative energy may serve as a form of techno-denial to avoid facing the uncertain but inevitable end of growth in consumption and population on our finite planet.
Originality/value
This paper offers journalists, policymakers, researchers, and students new, unasked, questions regarding the expectation that alternative energy technologies can replace fossil fuel. For instance, if wind and sunlight are free, why are wind and solar energies so expensive, requiring billions in subsidies? Where do solar cell and wind turbine costs ultimately arise, if not from fossil fuels (via labor, materials, etc.)?
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While the history of modern ideas in business education in general, and organization theory and organizational economics in particular, has several different intellectual roots…
Abstract
While the history of modern ideas in business education in general, and organization theory and organizational economics in particular, has several different intellectual roots, two books in particular were influential in initiating the field that is now broadly recognized as behavioral theories of organizations: A Behavioral Theory of the Firm, written by Richard Cyert and James G. March; and Organizations, written by Herbert Simon and James March. These two books set the stage for several subsequent developments in organization and management theory including research in learning, strategic management, and organizational routines. The behavioral view of the firm was also important to modern developments such as evolutionary theory and transaction cost economics. This paper examines part of this history and development, focusing in particular on the contributions of March.
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Following Braudel's conceptualization of capitalism and Arrighi's periodization of systemic cycles of accumulation, the authors focus on the patterns of recurrence of financial…
Abstract
Following Braudel's conceptualization of capitalism and Arrighi's periodization of systemic cycles of accumulation, the authors focus on the patterns of recurrence of financial expansions enabling capitalism to revitalize itself through crisis; in this, crisis is considered in both aspects — crisis‐as‐restructuring and crisis‐as‐rupture. The ways in which finance aided by the blocks of governmental and business agencies in the present stage affects investment and business cycles result in a progressive increase of inequality between rich and poor countries, as well as inequality within the most developed countries. The authors tackle the crisis phenomenon through a genealogical analysis of the formation, consolidation and disintegration of the successive regimes of accumulation on a world scale through which the capital economy expands. They furthermore examine the crisis of capitalist accumulation through the relation of money and the state, which leads them to the field of debates on the changed relationship between the global economy and the national state. However, the crisis is also marked by a milestone which, despite dangers and pitfalls, opens up endless possibilities. They end the paper with a critique of the politics of money and advocate a socially responsible finance management, which will pave the way for a structure of society in which humanity will exist as an end in itself, rather than as a resource for the accumulation of money.
Following Braudel’s conceptualization of capitalism and Arrighi’s periodization of systemic cycles of accumulation, the authors focus on the patterns of recurrence of financial…
Abstract
Following Braudel’s conceptualization of capitalism and Arrighi’s periodization of systemic cycles of accumulation, the authors focus on the patterns of recurrence of financial expansions enabling capitalism to revitalize itself through crisis; in this, crisis is considered in both aspects ‐ crisis‐as‐restructuring and crisis‐as‐rupture. The ways in whichfinance aided by the blocks of governmental and business agencies in the present stage affects investment and business cycles result in a progressive increase of inequality between rich and poor countries, as well as inequality within the most developed countries. The authors tackle the crisis phenomenon through a genealogical analysis of the formation, consolidation and disintegration of the successive regimes of accumulation on a world scale through which the capital economy expands. They furthermore examine the crisis of capitalist accumulation through the relation of money and the state, which leads them to the field of debates on the changed relationship between the global economy and the national state. However, the crisis is also marked by a milestone which, despite dangers and pitfalls, opens up endless possibilities. They end the paper with a critique of the politics of money and advocate a socially responsible finance management, which will pave the way for a structure of society in which humanity will exist as an end in itself, rather than as a resource for the accumulation of money.