Sparsely Aggregated Convolutional Networks

We explore a key architectural aspect of deep convolutional neural networks: the pattern of internal skip connections used to aggregate outputs of earlier layers for consumption by deeper layers. Such aggregation is critical to facilitate training of very deep networks in an end-to-end manner. This is a primary reason for the widespread adoption of residual networks, which aggregate outputs via cumulative summation. While subsequent works investigate alternative aggregation operations (e.g. concatenation), we focus on an orthogonal question: which outputs to aggregate at a particular point in the network. We propose a new internal connection structure which aggregates only a sparse set of previous outputs at any given depth. Our experiments demonstrate this simple design change offers superior performance with fewer parameters and lower computational requirements. Moreover, we show that sparse aggregation allows networks to scale more robustly to 1000+ layers, thereby opening future avenues for training long-running visual processes.Comment: Accepted to ECCV 201

Absorptive Capacity And A Failed Cross-Border M&A

Purpose – Chinese companies are increasingly using cross-border mergers and acquisitions (M&A) to source knowledge or strategic assets. For many, global acquisitions have proven to be highly problematic and value-destroying. The purpose of this paper is to address this critical acquisition failure issue from an absorptive capacity perspective. Design/methodology/approach – Guided by the framework that focuses on how acquiring a firm’s weak absorptive capacity damages its ability to assimilate, integrate and apply external new knowledge, one high-profile Chinese failed acquisition: TCL acquisition of France’s Thomson’s TV business in 2004 is analyzed empirically. Findings – Acquisition performance of Chinese overseas M&A is found to be substantially affected by the acquiring firm’s absorptive capacity at multiple dimensions. Research limitations/implications – The absorptive capacity construct provides an insightful account for differentials in Chinese overseas M&A performance. Practical implications – For decision makers interested in formulating and implementing overseas M&A strategy, appropriate evaluation of their own firms’ absorptive capability should be the first step to take. Originality/value –This is the first paper to apply absorptive capacity arguments to Chinese resource-driven M&A strategy, and will prompt business academicians and practitioners to think about M&A strategy in new and innovative ways

Chinese Outward Direct Investment Research: Theoretical Integration and Recommendations

This article reports a detailed analysis of 138 peer-reviewed articles in 41 journals published in the last 12 years (2001–2012) that focus on Chinese outward foreign direct investment from a theoretical advancement perspective. It assesses how the topic has been explored both conceptually and empirically and identifies the substantive contributions to the literature using a thematic analysis. The article argues that research on the international expansion of Chinese multinational corporations offers a unique opportunity to extend and develop extant theorizing in four primary research streams: the latecomer perspective; Chinese state and government influences; the dynamics of firms and institutions; and the liability of foreignness. Building on the results of this analysis, the article offers five recommendations as promising ways to open up theoretical inquiry: (1) cross-fertilization among the four research streams; (2) integration of resource- and institution-based theories with other theoretical lenses; (3) research on the process dimensions using a longitudinal approach; (4) adoption of multi-levels of analysis; and (5) consideration of the wider emerging market literature

Absorptive Capacity and Failed Cross Border M&A

Purpose – Chinese companies are increasingly using cross-border mergers and acquisitions (M&A) to source knowledge or strategic assets. For many, global acquisitions have proven to be highly problematic and value-destroying. The purpose of this paper is to address this critical acquisition failure issue from an absorptive capacity perspective. Design/methodology/approach – Guided by the framework that focuses on how acquiring a firm\u27s weak absorptive capacity damages its ability to assimilate, integrate and apply external new knowledge, one high-profile Chinese failed acquisition: TCL acquisition of France\u27s Thomson\u27s TV business in 2004 is analyzed empirically. Findings – Acquisition performance of Chinese overseas M&A is found to be substantially affected by the acquiring firm\u27s absorptive capacity at multiple dimensions. Research limitations/implications – The absorptive capacity construct provides an insightful account for differentials in Chinese overseas M&A performance. Practical implications – For decision makers interested in formulating and implementing overseas M&A strategy, appropriate evaluation of their own firms’ absorptive capability should be the first step to take. Originality/value –This is the first paper to apply absorptive capacity arguments to Chinese resource-driven M&A strategy, and will prompt business academicians and practitioners to think about M&A strategy in new and innovative ways

Chinese Outward Direct Investment Research: Theoretical Integration and Recommendations

This article reports a detailed analysis of 138 peer-reviewed articles in 41 journals published in the last 12 years (2001–2012) that focus on Chinese outward foreign direct investment from a theoretical advancement perspective. It assesses how the topic has been explored both conceptually and empirically and identifies the substantive contributions to the literature using a thematic analysis. The article argues that research on the international expansion of Chinese multinational corporations offers a unique opportunity to extend and develop extant theorizing in four primary research streams: the latecomer perspective; Chinese state and government influences; the dynamics of firms and institutions; and the liability of foreignness. Building on the results of this analysis, the article offers five recommendations as promising ways to open up theoretical inquiry: (1) cross-fertilization among the four research streams; (2) integration of resource- and institution-based theories with other theoretical lenses; (3) research on the process dimensions using a longitudinal approach; (4) adoption of multi-levels of analysis; and (5) consideration of the wider emerging market literature

Absorptive Capacity And A Failed Cross-Border M&A

Purpose – Chinese companies are increasingly using cross-border mergers and acquisitions (M&A) to source knowledge or strategic assets. For many, global acquisitions have proven to be highly problematic and value-destroying. The purpose of this paper is to address this critical acquisition failure issue from an absorptive capacity perspective. Design/methodology/approach – Guided by the framework that focuses on how acquiring a firm’s weak absorptive capacity damages its ability to assimilate, integrate and apply external new knowledge, one high-profile Chinese failed acquisition: TCL acquisition of France’s Thomson’s TV business in 2004 is analyzed empirically. Findings – Acquisition performance of Chinese overseas M&A is found to be substantially affected by the acquiring firm’s absorptive capacity at multiple dimensions. Research limitations/implications – The absorptive capacity construct provides an insightful account for differentials in Chinese overseas M&A performance. Practical implications – For decision makers interested in formulating and implementing overseas M&A strategy, appropriate evaluation of their own firms’ absorptive capability should be the first step to take. Originality/value –This is the first paper to apply absorptive capacity arguments to Chinese resource-driven M&A strategy, and will prompt business academicians and practitioners to think about M&A strategy in new and innovative ways