ACHIEVING SUPERIOR INTERNATIONALIZATION THROUGH STRATEGIC AMBIDEXTERITY

2007 ◽  
Vol 15 (01) ◽  
pp. 43-77 ◽  
Author(s):  
MARY HAN
Keyword(s):  
Multinational Enterprise ◽  
Field Research ◽  
New Venture ◽  
Superior Performance ◽  
International New Venture ◽  
Short Term ◽  
Firm Level ◽  
Optimal Approach ◽  
Level Performance

In this paper, I examine the optimal approach to internationalization. Drawing from the ambidexterity literature, I build on the concept of structural ambidexterity and suggest that the optimal approach occurs when firms pursue 'strategic ambidexterity,' which is characterized by simultaneously executing paradoxical strategies of pro-profit and pro-growth. I examine this approach through empirical study based on in-depth field research of two cases: Merrill Lynch, a multinational enterprise and Comdirect Bank, an international new venture. I find that a) firms that pursue strategic ambidexterity in their internationalization effort achieve above-average internationalization performance in the short term; and b) firms that pursue strategic ambidexterity in their internationalization effort also achieve above-average firm-level performance in the long term. I conclude that strategic ambidexterity is the optimal strategy by which to achieve superior performance.

scholarly journals Post-Acquisition Performance of Emerging Market Firms: A Multi-Dimensional Analysis of Acquisitions in India

2021 ◽  
Vol 14 (12) ◽  
pp. 567
Author(s):  
Arindam Das
Keyword(s):  
Structural Equation ◽  
Emerging Market ◽  
Empirical Studies ◽  
Short Term ◽  
Firm Level ◽  
Acquisition Performance ◽  
Long Term Performance ◽  
Term Performance ◽  
A Performance

M&A performance is a multifaceted, compound construct with no overarching factor that captures all different dimensions. This paper examines the concept of acquisition performance and proposes a model that links firm-level factors and transaction parameters with firms’ short-term and long-term performance, extending to financial-, market- and innovation measures. Building on past empirical studies on the influence of various factors on M&A performance, a multi-dimensional structural equation model has been developed and it has been tested with a dataset on acquisitions in the Indian technology sector over a period of ten years. The results suggest that: (a) smaller acquirers with higher book value and leveraged firms demonstrate better long-term performance; (b) contrary to established understanding, short-term market returns are not influenced by deal parameters; (c) majority stake purchases show relatively lesser gains—suggesting the possible presence of post-acquisition integration issues and, (d) acquirers with high intangible assets continue to do well on innovation performance post-acquisition. By indicating situations and conditions under which an acquisition would potentially lead to a performance gain for the acquirer, these results provide significant insight to practitioners pursuing M&As for growth opportunities.

ACHIEVING SUPERIOR INTERNATIONAL NEW VENTURE (INV) PERFORMANCE: EXPLOITING SHORT-TERM DURATION OF TIES

2008 ◽  
Vol 16 (01) ◽  
pp. 1-18 ◽  
Author(s):  
MARY HAN
Keyword(s):  
Network Analysis ◽  
New Ventures ◽  
Economic Effect ◽  
The Body ◽  
New Venture ◽  
Superior Performance ◽  
International New Ventures ◽  
Short Term ◽  
Network Ties ◽  
The Impact

Network ties help international new ventures (INVs) achieve success. However, researchers have paid little attention to the duration of network ties and the impact of duration on performance. I draw on network analysis and the resources-based view to examine this area and propose a conceptual model that depicts the variables and mediating factors for INV performance. The model explains how INVs acquire, manage and exploit ties to achieve superior performance. I argue that resource-constrained INVs can minimize their investment of time and capital, and maximize the economic effect of ties, by using briefer time periods and short-term projects. I also propose that INVs adopt a 'hedging' or portfolio approach to managing ties, by collecting larger number of prospects to reduce uncertainty. The model and propositions contribute to the body of literature in network analysis and INVs. The paper highlights implications for research and practice.

scholarly journals Entrepreneurship as re-sourcing

2016 ◽  
Vol 10 (2) ◽  
pp. 178-202 ◽  
Author(s):  
Steffen Korsgaard ◽  
Alistair Anderson ◽  
Johan Gaddefors
Keyword(s):  
Entrepreneurial Activity ◽  
Alternative View ◽  
Short Term ◽  
Conceptual Approach ◽  
Firm Level ◽  
Content Type ◽  
Trade Offs ◽  
Material Reality ◽  
Practical Implications

Purpose The purpose of this paper is to develop an understanding of entrepreneurship that can help researchers, policymakers and practitioners develop entrepreneurial responses to the current economic, environmental and socio-spatial crisis. Design/methodology/approach The paper adopts a conceptual approach. Hudson’s diagnosis of the current patterns of production is applied to the two dominant streams of theorising on entrepreneurship: the opportunistic discovery view and the resourcefulness view of, for example, effectuation. Findings The analysis indicates that the opportunistic discovery view and, to some extent, the resourcefulness view are both inadequate as conceptual platforms for entrepreneurial responses to the economic, environmental and socio-spatial crisis. Instead, an alternative perspective on entrepreneurship is developed: Entrepreneurship as re-sourcing. The perspective emphasises the importance of building regional-level resilience through entrepreneurial activity that sources resources from new places and uses these resources to create multiple forms of value. Practical implications The paper draws attention to dysfunctions in the current theorising on entrepreneurship in light of the economic, environmental and socio-spatial crisis. Instead, the authors offer an alternative. In doing so, the paper also points to the difficult trade-offs that exist between, for example, long-term resilience and short-term competitiveness and growth on a regional, as well as firm level. Originality/value This paper adds to research by offering an alternative view of entrepreneurship grounded – not in economics – but in economic geography, thus highlighting the importance of productions’ grounding in material reality and the importance of addressing non-economic concerns in our way of thinking about entrepreneurship.

scholarly journals THE SHORT- AND LONG-TERM VALUE GAINS TO ACQUIRERS OF EMERGING MARKET TARGETS IN MERGERS AND ACQUISITION DEALS

2021 ◽  
Vol 9 (1) ◽  
pp. 1-18
Author(s):  
Emmanuel Okofo-Dartey ◽  
◽  
Lungile Ntsalaze ◽  
Keyword(s):  
Emerging Markets ◽  
Emerging Market ◽  
Generalized Method Of Moments ◽  
Estimation Method ◽  
The Body ◽  
Omitted Variables ◽  
Growth Opportunities ◽  
Short Term ◽  
Firm Level

This study investigates whether the acquisition of targets from the emerging markets impacts the short-term and long-term value gains of these targets' acquirers in terms of their profitability and growth opportunities. The study uses firm-level data of 93 listed acquirers of targets from the emerging markets sourced from the Bloomberg Terminal from 2003 to 2018. It employs the difference generalized method of moments (GMM) for analysis. This dynamic panel estimation method takes care of endogeneity problems, omitted variables, and error measurements. The study reveals that, broadly, the acquirers' profitability levels improve in the short-term after merger and acquisition (M&A) deals. This improvement in the acquirers' profitability levels occurs in the 1 st, 4th and 5th year periods within the short-term after their M&A transactions are completed. Regarding growth opportunities, acquirers of targets from the emerging markets experience both negative and positive returns on their short-term growth opportunities. However, they experience significant positive returns on their growth opportunities in the long-term. Our paper complements and contributes to the body of knowledge on international market entry and have implication for potential acquirers interested in investment opportunities in the emerging markets.

scholarly journals Kepemimpinan Visioner Dalam Implementasi Program Full Day School Di Madrasah Ibtidaiyah

2021 ◽  
Vol 5 (2) ◽  
pp. 98-111
Author(s):  
Yovi Aji Pratiwi ◽  
Novan Ardy Wiyani
Keyword(s):  
Leadership Practices ◽  
Field Research ◽  
Qualitative Approach ◽  
Visionary Leadership ◽  
Day School ◽  
School Program ◽  
Short Term ◽  
Data Presentation ◽  
Full Day

This study aims to obtain a description of the visionary leadership of the principal in the implementation of the full day school program at MI Modern Al Azhary Ajibarang. This research is a type of field research that uses a qualitative approach. The data were collected by interviewing, observing and documenting then being analyzed through the stages of data reduction, data presentation, and data verification. The results showed that there were five strategies applied in visionary leadership at MI Modern Al Azhary Ajibarang. First, to focus leadership practices on the goals of the full day school program. Second, make short-term and long-term plans for the full day school program. Third, focus on achieving the vision for a successful full day school program. Fourth, responding to various changes made by the full day school program. Fifth, respond to the needs of teachers and student guardians in the implementation of full day school.

How Do “Resource Bundles” Develop and Change in New Ventures? A Dynamic Model and Longitudinal Exploration

2001 ◽  
Vol 25 (3) ◽  
pp. 37-58 ◽  
Author(s):  
Benyamin M. Bergmann Lichtenstein ◽  
Candida G. Brush
Keyword(s):  
Dynamic Model ◽  
New Ventures ◽  
New Venture ◽  
Entrepreneurial Firms ◽  
Short Term ◽  
Change Over Time ◽  
Performance Results ◽  
Term Performance ◽  
Over Time

According to recent studies applying Resource-Based Theory [RBT] to entrepreneurial firms (e.g. Chandler & Hanks, 1994; Brush & Greene, 1996), in the early stages of new venture development it is the identification and acquisition of resources—rather than deployment or allocation activities—that is crucial for the firm's long-term success (Stevenson & Gumpert, 1985). This study explores that relationship longitudinally, tracking salient resources in three rapidly growing new ventures, and analyzing how these resources change over time. Our findings identify the most common types of salient resources, the primary types of changes in resource and resource bundles, and a pattern linking the type of change with short-term performance results in each firm.

scholarly journals Learning temporal attention in dynamic graphs with bilinear interactions

PLoS ONE ◽  
2021 ◽  
Vol 16 (3) ◽  
pp. e0247936
Author(s):  
Boris Knyazev ◽  
Carolyn Augusta ◽  
Graham W. Taylor
Keyword(s):  
Link Prediction ◽  
Point Processes ◽  
Superior Performance ◽  
Dynamic Graphs ◽  
Temporal Attention ◽  
Short Term ◽  
Baseline Model ◽  
Bilinear Transformation ◽  
Structural Connections

Reasoning about graphs evolving over time is a challenging concept in many domains, such as bioinformatics, physics, and social networks. We consider a common case in which edges can be short term interactions (e.g., messaging) or long term structural connections (e.g., friendship). In practice, long term edges are often specified by humans. Human-specified edges can be both expensive to produce and suboptimal for the downstream task. To alleviate these issues, we propose a model based on temporal point processes and variational autoencoders that learns to infer temporal attention between nodes by observing node communication. As temporal attention drives between-node feature propagation, using the dynamics of node interactions to learn this key component provides more flexibility while simultaneously avoiding issues associated with human-specified edges. We also propose a bilinear transformation layer for pairs of node features instead of concatenation, typically used in prior work, and demonstrate its superior performance in all cases. In experiments on two datasets in the dynamic link prediction task, our model often outperforms the baseline model that requires a human-specified graph. Moreover, our learned attention is semantically interpretable and infers connections similar to actual graphs.

scholarly journals Lean Management Practices’ Effects on Brazilian Firms: A Quantitative and Qualitative Analysis

2021 ◽  
Vol 3 (3) ◽  
pp. 84-108
Author(s):  
Filipe Lage de Sousa ◽  
Mauricio Canêdo-Pinheiro ◽  
Bernardo Pereira Cabral ◽  
Glaucia Estefânia de Sousa Ferreira
Keyword(s):  
Management Practices ◽  
Management Practice ◽  
Cost Effective ◽  
Lean Management ◽  
Short Term ◽  
Firm Level ◽  
Basic Principles ◽  
The Impact ◽  
Innovation Outcomes

One of the key drivers for a firm's productivity growth is management. One lean management practice considered cost-effective is Kaizen. Originally from Japan, the Kaizen basic concept is continuous improvement with the involvement of the full workforce. Using a firm-level dataset from Brazil's innovation and manufacturing surveys, this paper evaluates quantitatively whether Kaizen has impacted the performance of domestic firms. Our initial results suggest a productivity premium on Kaizen adopters, yet when it materializes is not detectable in the short term. Moreover, the impact on innovation is observable after Kaizen implementation. Understanding these outcomes with a qualitative approach, our analysis highlights the importance of Kaizen on innovation, especially by improving worker's time at the production line as well as the long-term vision of Kaizen on productivity. In summary, Kaizen is not a magic wand that improves firms’ performance in a wide array of indicators yet it may boost innovation outcomes in the short term aiming to improve productivity in the long term if it is implemented carefully and persistently, as established by its basic principles.

Entrepreneurial Networking During Early Stages of Opportunity Exploitation: Agency of Novice and Experienced New Venture Leaders

2019 ◽  
Vol 44 (4) ◽  
pp. 671-699 ◽  
Author(s):  
Congcong Zheng ◽  
Mujtaba Ahsan ◽  
Alex F. DeNoble
Keyword(s):  
Qualitative Methodology ◽  
Early Stage ◽  
Three Dimensions ◽  
Time Orientation ◽  
New Venture ◽  
Short Term ◽  
Opportunity Exploitation ◽  
Early Stages ◽  
Prior Experiences

We examine how the prior experiences of new venture leaders (NVLs) affect networking behaviors during the early stages of opportunity exploitation. We argue that lack of prior experience increases the unknowns that NVLs face when pursuing opportunity exploitation. Lack of technical experience increases technical unknowns, whereas lack of startup experience increases startup unknowns. Using a qualitative methodology, we investigate 22 NVLs and find that they differ on three dimensions: networking time orientation (short-term vs. long-term), desired benefits (operational vs. symbolic), and networking actions (deepening vs. broadening). We find that novice NVLs, those who lack technical or startup experience, tend to utilize short-term orientation, engage in network-deepening actions, and seek operational benefits from their networks to mitigate technical and startup unknowns. In contrast , dual-experienced NVLs, those with technical and startup experience, are guided by long-term orientations, network-broadening actions, and a focus on symbolic benefits. We also find that technical and startup veterans exhibit a combination of those behaviors. We contribute to the literature by posing a set of three propositions depicting differences in NVL networking behaviors based on differences in startup and/or technical experiences. This study, thus, highlights the influence of NVL experience on early-stage networks.

Factors affecting financial leveraging for BSE listed real estate development companies in India

2018 ◽  
Vol 23 (3) ◽  
pp. 274-294
Author(s):  
Rakesh Kumar Sharma
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Short Term ◽  
Firm Level ◽  
Content Type ◽  
Factors Affecting ◽  
Tax Shield ◽  
Total Debt ◽  
Real Estate Sector

PurposeThe real estate sector in India has assumed growing importance with the liberalisation of the economy. Developments in the real estate sector are being influenced by the developments in the retail, hospitality and entertainment (e.g. hotels, resorts and cinema theatres) segment, economic services (e.g. hospitals, schools) and information technology-enabled services (such as call centres), and vice versa. This paper aims to study the determinants of capital structure by taking into account 125 major Bombay Stock Exchange (BSE) listed real estate companies selected on the basis of their market capitalisation.Design/methodology/approachTo discover what determines capital structure, nine firm level explanatory variables (profitability-EBIT margin, return on assets, earnings volatility, non-debt tax shield, tangibility, size, growth, age debt service ratio and tax shield) were selected and regressed against the appropriate capital structure measures, namely, total debt to total assets, long-term debts to total assets, short-term debts to total assets, total liabilities to total liabilities plus equity, total debt to capital used and total debt to total liabilities plus equity. A sample of 125 real estate companies was taken and secondary data were collected. Consequently, multivariate regression analysis was made based on financial statement data of the selected companies over the study period of 2009-2015.FindingsThe major findings of the study indicated that profitability, size, age, debt service capacity growth and tax shield variables are the significant firm-level determinants.Research limitations/implicationsThe present study is carried out by taking data of only 25 companies listed on the BSE and time period covered from 2009 from 2015. Time period and sample size may be limitations of the current study.Practical implicationsThe present study is an empirical analysis of the determinants of leverage of real estate sector in India with most recent available data. Different regression equations have been formed to develop the models using firm-specific determinants and different measures of leverage or capital structure. Data were regressed using SPSS application software, and the resulting (or obtained) regression outputs are analysed. This study will help the Indian real estate companies to the know the impact of different variables while raising short-term and long-term loans.Social implicationsThe current study will benefit all stakeholders of society who are fascinated to be acquainted with the financing of real estate companies and the factors affecting long-term and short-term financing of this sector. Specifically, public engrossed in different modes of investment and financial institution will be the prime gainers.Originality/valueThe present study has been completed using authentic data from the annual reports and database. This study uses explanatory variables and different measures of leverage which were limited in use in previous studies. Moreover, this research is a comprehensive study that deals with developing different regression models by using diverse measures of leverage.

Sign in / Sign up

Export Citation Format

Share Document