CORPORATE GOVERNANCE AND INNOVATIVE SUCCESS: AN EXAMINATION OF THE MODERATING INFLUENCE OF A FIRM’S LIFE CYCLE STAGE

Innovation ◽  
2013 ◽  
pp. 3612-3649
Author(s):  
Shuling Chiang ◽  
Picheng Lee ◽  
Asokan Anandarajan
Author(s):  
Kin-Wai Lee ◽  
Char-Lee Lok

Using a sample of listed firms in Malaysia, Philippines, Singapore and Thailand, this article examines the association between busy board of directors and firm performance. We offer three results. First, we find that firm performance (measured by operating profitability and market-to-book equity) is negatively associated with busy boards. Second, we find that firms with busy boards have higher operating risk (measured by volatility of return on assets, volatility of stock returns and volatility of operating cash flow). Third, we find that the association between firm performance and busy boards is conditional on the firm’s life cycle stage. For firms in the growth stage, busy boards are beneficial to firm performance suggesting that the experience knowledge and reputation accumulated with multiple directorships help busy directors to more effectively advise these firms. In contrast, for firms in the maturity stage of their life cycle, busy boards are detrimental to firm performance suggesting the monitoring role of board is weakened by multiple directorships.


2019 ◽  
Vol 8 (3) ◽  
pp. 403-417
Author(s):  
João Paulo Lara de Siqueira ◽  
Renato Telles ◽  
Maciel M. Queiroz ◽  
Edison Yoshihiro Hamaji ◽  
Gabriel Gomes Ferreira

Objective of the study: This study aims to investigate the characteristics of the networks of volleyball teams in Brazilian context, in amateur and professional level.Methodology/Approach: This research adopted an interpretive paradigm, in which six Brazilian volleyball teams were studied. The techniques of data collection were qualitative and encompassed interviews, analysis of information available in the press and on websites and observation.Originality/Relevance: Prior literature has not investigated in-depth with the lens of the networks theory, the sports organizations at an amateur and professional level, considering the firms’ life cycle. To address this gap, considering that, similar to the life cycle of firms, amateurism and professionalism are specific strategic contexts.Main results: Our findings indicated that actor’s of team’s networks could be divided into two groups, one linked to sports and other to administrative activities. Additionally, teams’ networks have in common the fact that paid team members perform activities related to the sport itself.Theoretical/Methodological contributions: The fact that Superliga B has more collaborations obtained by personal contacts, while  Superliga A teams build a more calculated network, meet the propositions made in this study and are aligned to the general idea of the work of Hite and Hesterly (2001) about changes in firm’s network and firm’s life cycle.  Social contribution/for management: The main implications for management indicated that, whether companies or volleyball teams, should align their networks with the current life cycle stage. If a volleyball team plans to become professional, it should be aware of the need to adapt the network to a new division.


2011 ◽  
Vol 10 (1) ◽  
Author(s):  
Werner R. Murhadi ◽  
Liliana Inggrit Wijaya

This research objective is to observe the influences of good corporate governance, analyst coverage, company life cycle, investment opportunities set, size, and profitability towards the dividend policy. This study employs the corporate data from Indonesian Stock Exchange during 2005-2008 and weighted least square methods. The latest sample is 279 years of observation. The result shows that only life cycle stage of the company and its profitability are influential towards the dividend policy. The findings show that the relationship between the good corporate governance is consistent with the hypothesis but not significant.


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