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The disciplinary role of unsuccessful takeovers and changes in corporate governance
Abstract
This study examines if unsuccessful takeovers trigger the replacement of directors and changes in other governance attributes and result in improvements in target firm performance. Using an Australian sample this study finds that following failed bids, target firms are more likely to remove directors and experience an increase in director ownership, board independence, and block ownership. In contrast, target firm director expertise and prestige decrease following failed bids. We also find that post-bid accounting and stock performance of targets are largely unrelated to changes in governance attributes after the unsuccessful takeover.
Investigating performance implications of intra‐family ownership successions: Equity transfers with versus without debt creation
Abstract
We relate two routes of intra-family ownership succession (i.e., succession financed with versus without debt) to post-succession financial performance. Investigating a sample of 203 privately-held family businesses, our results show that the succession-induced performance paths of the two subgroups are significantly different. When debt is used to fund the intra-family share transfer, financial performance significantly increases in the post-succession period. This phenomenon is absent when no debt is used to fund succession. We attribute the performance gap to a governance device characterising the debt-financed succession route: debt creation at succession leads to firm-level efficiency gains.
Organizational Goals, Outcomes, and the Assessment of Performance: Reconceptualizing Success in Management Studies
Abstract
We revisit the study of organizational goals, outcomes, and assessment of performance that together define the process leading to ‘success’. We begin by conducting a systematic review of existing research which allows us to develop an integrative framework discussing this large body of work. We then describe contemporary research examples in light of our proposed framework. We close by proposing four new areas to continue to advance the field: reconceptualizing performance (and success) as achievement of goals; diversity of goal systems in research designs, and their relationship with the purpose of an organization; multilevel and temporal dynamics; and governance of goal setting. Overall, our efforts inform future research on organizational success in the context of our new societal challenges and accomplish the intriguing task of re-defining success in management studies.
Role of E-Business Driven OTT Platforms in Influencing Consumer’s Intention to Cut the Cable Cord
Management and Labour Studies, Ahead of Print.
The research article focuses on the impact of the COVID-19 pandemic that contributed to a surge in cable cord-cutting in mature as well as emerging markets such as India. The objective of this study was to provide a detailed understanding of the motivating forces behind consumers’ intention to cut the cord of television cables. This research article has tried to examine the impact of four factors, namely, (a) perceived advantage, (b) perceived value, (c) perceived compatibility and (d) perceived substitutability on the intention of the consumers’ cord-cutting. The research data were collected from 186 Subscription Video on Demand subscribers by circulating an online questionnaire and administering Amos 23.0 for analysing the data. The data analysis result revealed that consumers’ intention for cord-cutting was influenced by perceived compatibility, perceived value, perceived advantage and perceived substitutability. This research study intends to provide direction to pay TV subscription providers to understand the factors that influence cord-cutting and to motivate consumers to retain a minimal subscription leading to cord-shaving.
The research article focuses on the impact of the COVID-19 pandemic that contributed to a surge in cable cord-cutting in mature as well as emerging markets such as India. The objective of this study was to provide a detailed understanding of the motivating forces behind consumers’ intention to cut the cord of television cables. This research article has tried to examine the impact of four factors, namely, (a) perceived advantage, (b) perceived value, (c) perceived compatibility and (d) perceived substitutability on the intention of the consumers’ cord-cutting. The research data were collected from 186 Subscription Video on Demand subscribers by circulating an online questionnaire and administering Amos 23.0 for analysing the data. The data analysis result revealed that consumers’ intention for cord-cutting was influenced by perceived compatibility, perceived value, perceived advantage and perceived substitutability. This research study intends to provide direction to pay TV subscription providers to understand the factors that influence cord-cutting and to motivate consumers to retain a minimal subscription leading to cord-shaving.
Popular appeal and artistic merit: overcoming the experience good problem in Broadway theater
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Acculturation strategies as predictors of fandom identification in the fanfiction, Star Wars fan, and furry communities
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Factors that contribute to accurately perceiving anti-black racism and sexism overlap
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The impact of post‐retirement financial market participation on retirement income sufficiency in Australia
Abstract
Using HILDA survey data, we document a strong positive relationship between post-retirement financial market participation and retiree income sufficiency in Australia. We find a 17% improvement in the income replacement ratio and a 3.26 times higher annuitised net wealth for financial market participants compared to non-participants. We further investigate how age, residence area, relationship status, education, health, and employment affect the main finding in all and female retirees. The results highlight the value of financial market participation in facilitating household retirement security and provide further support for the active promotion of household financial market participation, both in Australia and globally.
Pressure from words: The tone of investors in Chinese earnings communication conferences and managerial myopia
Abstract
This study examines whether and how the negative tone of investors in earnings communication conferences (ECCs) held by Chinese listed companies influences managerial myopia. We use the bidirectional encoder representations from transformers (BERT) model to construct sentence-level emotional tone and find that the negative tone of investors in ECCs leads to greater myopic behaviour by managers. The positive relationship between the negative tone of investors and managerial myopia is stronger when more investors participate in ECCs, investors ask more questions, and managers respond with longer statements. However, this positive relationship becomes weaker when managers have positions in other companies, managers are more competent, and managers display a more positive tone in ECCs. Additionally, this positive relationship weakens when listed companies that hold ECCs have more institutional investors and strengthens when the media reports these companies more frequently. Our results prove that individual investors can have a voice and influence the decision-making behaviour of managers through ECCs.