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Governance, ownership, and corporate entrepreneurship: the moderating impact of industry technological opportunities

Article Abstract:

Corporate entrepreneurship is important for organizational survival, profitability, growth, and renewal. Data from 127 Fortune 500 companies show that executive stock ownership and long-term institutional ownership are positively associated with such entrepreneurship. Conversely, short-term institutional ownership is negatively associated with it, as is a high ratio of outside directors on a company's board. Outside directors' stock ownership somewhat mitigates the latter negative association. Outsiders, including stock owners, might lead companies away from internal product development, the traditional route to corporate entrepreneurship. Finally, an industry's technological opportunities moderate the associations observed between corporate governance and ownership variables and corporate entrepreneurship. (Reprinted by permission of the publisher.)

Corporate directors, Corporate governance, Employee ownership, Entrepreneurship

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Performance effects of information asymmetry and economies of scope in diversified service firms

Article Abstract:

This study examined the performance effects of information asymmetry and economies of scope in diversified service firms. Tests using both accounting- and stock-market-based measures of performance revealed that information asymmetry improved performance more than economies of scope. As hypothesized, the benefits of information asymmetry were greater for firms offering services whose quality cannot be determined until after their purchase (experience services), and the benefits of economies of scope were greater for firms offering services whose quality can be determined prior to purchase (search services). However, without considering the interactive effects of service characteristics, economies of scope were negatively associated with performance for diversified service firms overall. (Reprinted by permission of the publisher.)

Services, not elsewhere classified, Evaluation, Services industry, Service industries

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The importance of collaborative know-how: an empirical test of the learning organization

Article Abstract:

In this research, I proposed and tested a model of how firms learn from their strategic alliances. Based on a survey of 151 firms, the results suggest that experience alone is insufficient for the achievement of the greatest benefits from collaboration. Experience must be internalized first, and collaborative know-how must be developed for this experience to contribute to future collaborative benefits. (Reprinted by permission of the publisher.)

Strategic alliances (Business)

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