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Recent Journal Publications by COB Faculty

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Academic Journal
Strategy & Entrepreneurship

“Examining alliance portfolios beyond the dyads: The relevance of redundancy and non-uniformity across and between partners”

In this research, we unpack how interdependencies affect not just individual dyads but also value creation across an alliance portfolio and ultimately a focal firm’s performance. Moving beyond the collection of dyadic relationships of individual alliances, we examine more holistically the distribution of power imbalances and mutual dependences within alliance portfolios, as well as the impact of redundancies in portfolio partners’ resources. Building on resource dependence theory, we develop and test arguments on a sample of 59 firms in the U.S. passenger airline industry during 1998–2011. We find that nonuniform distributions of power imbalances and mutual dependences within the alliance portfolio as well as redundancy affect firm performance in different ways, which has implications for the management of alliance portfolios.
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Academic Journal
Finance

“Executive Compensation and Agency Issues in Italy”

From a theoretical perspective, we posit that that dividend policies may be relevant in resolving agency issues even in a governance environment dominated by family controlled firms. Earlier research has found that in more market based systems such as the US and Canada, dividends are in fact instrumental in solving agency issues. Prior empirical research has also found that dividends have a role in mitigating agency conflicts in a bank-dominated corporate environments like that in Germany (Elston and Goldberg, 2003). This paper extends the findings of earlier research by empirically investigating whether dividends retain their importance as the mechanism for resolving residual agency issues in a family controlled governance environment like Italy
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Academic Journal
Finance

“Executive Compensation and Agency Costs in Germany”

With the growth of international mergers like DaimlerChrysler, interest in executive compensation practices abroad, particularly in Germany, has increased. Using unique data sources for Germany, we find that similar to US firms, German firms also have agency problems caused by the separation of ownership from control, with ownership dispersion leading to higher compensation. In addition, there is evidence that bank influence has a negative impact on compensation.
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Academic Journal
Management

“Expectation-based interventions for expatriates”

Expatriate assignments are one of the primary tools used by organizations to extend their influence on an international level. While potentially of great value if they succeed, there are significant costs to both the organization and individual if they do not. Because of the high risk nature of expatriate assignments, there has been significant interest in interventions to increase the likelihood of their success. One under-explored area in the expatriate literature relates to expatriate expectations and acculturation experiences. We first review the literature regarding the major expectation-based interventions, including realistic job previews (RJPs), realistic living condition previews (RLCPs), and expectation lowering procedures (ELPs), and then develop a theoretical model of these interventions in the context of expatriates. Building upon this model, we suggest several important theoretical and practical questions that deserve future attention.
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