Decoupling risk taking from income stream uncertainty: a holistic model of risk

Palmer, Timothy B.; Wiseman, Robert M.

doi:10.1002/(sici)1097-0266(199911)20:11<1037::aid-smj67>3.0.co;2-2

Cited by 449 publications

(264 citation statements)

References 115 publications

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“…Conversely, we expected a negative effect of competition on upward expansion speed in more open markets with strong market competition. Competition in a four-digit industry is measured by one minus the score of market concentration (Palmer & Wiseman, 1999):…”

Section: Instrumental Variablesmentioning

confidence: 99%

Rapid expansion of international new ventures across institutional distance

2018

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Rapid export expansion into institutionally distant locations has become more possible in the era of digital economy. Will such rapid expansion bring desirable outcome to firms? In a context of international new ventures (INVs) from emerging markets, we reconceptualize export expansion speed as the pace of exporting across institutional distance over a certain period of time. We then examine the relationship between rapid export expansion across institutional distance and overall firm performance. We incorporate directionality into export expansion and hypothesize the relationship to be positive when INVs export upwardly to more open countries, yet the relationship to be negative when INVs export downwardly to less open countries. We also hypothesize that the degree of market liberalization in subnational regions of origin of the INVs moderates the above speed-performance relationships. Instrumental variable models based on data of Chinese indigenous INVs during 2000-2009 support these hypotheses. This study both zooms in and zooms out the analytical lens along the location-related institutional axis, examines the joint effect of institutions involved in supranational directions and subnational origins on firm performance, and advances institutional theory.

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Section: Instrumental Variablesmentioning

confidence: 99%

Rapid expansion of international new ventures across institutional distance

2018

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“…Consistent with previous studies (Dess & Beard, 1984;Palmer & Wiseman, 1999), our archival data included industrial indices such as output, employees, value-added, and the number of establishments for the past five years ending in 1998. However, an examination of the available archival datasets revealed that different countries employed different industry codes between 1994 and 1998.…”

Section: Data Collection and Samplementioning

confidence: 99%

“…Following Dess and Beard (1984) and Palmer and Wiseman (1999), we measured objective industrial munificence by regressing industrial sales, total industrial employment, and industrial value-added for each industry for the five years prior to the year of the survey. Munificence was calculated using a ratio of the regression slope coefficients (B) to the mean value of the dependent variables.…”

Section: Objective Industrial Munificencementioning

confidence: 99%

“…Consistent with prior research (Dess & Beard, 1984;Palmer & Wiseman, 1999) and in order to control for other elements of environmental uncertainty, we included environmental instability (Miller & Friesen, 1983) and environmental complexity (Downey & Slocum, 1975) as control variables. Environmental instability reflects the rate of change in the environment (Miller & Friesen, 1983).…”

Section: External Environmentmentioning

confidence: 99%

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The Impact of Organizational Goal Setting on the Industrial Munificence-Goal Attainment Relationship

Tang¹,

Powell²,

Marino³

et al. 2009

IJBM

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In seeking to exploit environmental resources and opportunities, CEOs can either set multiple goals or narrow their focus on a few targets for the organizations. What approach will help organizations to benefit more from industrial munificence? In this paper, we investigate the moderating effects of CEOs' goal setting (including the number of goals and the prioritization of these goals) on the relationship between industrial munificence and the satisfaction of goal attainment. By examining 277 small and medium-size firms in four countries, we find that CEOs need to stretch their goal list while keeping a clear priority order among these goals in order to capitalize on industrial munificence. Implications of our study are discussed.

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“…Corporate risk taking has previously been examined in terms of performance feedback [2], slack [3,4], top management incentive systems [5][6][7][8], and environmental factors [9]. More recently, scholars begin to shift their attention to the effect of the innate attributes of managers on their risk-taking incentives, such as sensation seeking, overconfidence, education, military background, depression-era life experiences, religious belief, and political affiliations [10][11][12][13][14][15].…”

Section: Introductionmentioning

confidence: 99%

Management Characteristics and Corporate Risk-taking: An Overall Review

Su¹,

Li²,

Wang³

2017

dteees

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Abstract. We review the literature on the relationships between management characteristics and corporate risk-taking over the period 1985~2015 and find that the two types of management characteristics: the physical characteristics and the psychological ones lead to different risk-taking behavior and firm outcomes. Generally, the physical traits have impact on taking risk by psychological bias and the psychological traits affect risk-taking behavior directly. We also find that the researchers always use the traits of CEO or top management as the proxies to explain management behaviors.

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Decoupling risk taking from income stream uncertainty: a holistic model of risk

Cited by 449 publications

References 115 publications

Rapid expansion of international new ventures across institutional distance

Rapid expansion of international new ventures across institutional distance

The Impact of Organizational Goal Setting on the Industrial Munificence-Goal Attainment Relationship

Management Characteristics and Corporate Risk-taking: An Overall Review

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