Who violates expectations when? How firms’ growth and dividend reputations affect investors’ reactions to acquisitions

Research summary: We investigate the role of a firm’s dividend and growth reputations in shaping investors’ interpretations of acquisitions as a negative or positive expectation violation. While our findings reveal that both an acquiring firm’s dividend and growth reputations trigger positive investor reactions, they also show that investors react negatively to an acquisition of a target firm with a strong growth reputation when the acquiring firm has a strong dividend reputation. We also find that investors are inclined to give managers “the benefit of the doubt” to the extent that an acquiring firm strategically frames an acquisition announcement in such a way that it provides assurance to investors that the acquisition is meant to exceed investors’ expectations about shareholder value creation. Managerial summary: We study why investors respond to some acquisitions positively and others negatively. We find that the way acquiring and target firms have created shareholder value in the past, and the information conveyed in the acquisition announcements are important determinants of investors’ differential reactions to acquisitions. Our findings show that while investors generally react positively to acquisitions by firms known for creating value either through dividends or growth, their reactions become negative when a firm known for value creation through dividends acquires a target known for value creation through growth. We further find that managers can favorably influence investor reactions by making it salient in the acquisition announcement how the acquisition is intended to exceed investors’ value creation expectations from the acquiring firm

Putting Communication Front and Center in Institutional Theory and Analysis

International audienceIn this article we introduce AMR’s Special Topic Forum on Communication, Cognition and Institutions. We conceptualize the roots of cognitive, linguistic and communicative theories of institutions, and outline the promise and potential of a stronger communication focus for institutional theory. In particular, we outline a theoretical approach that puts communication at the heart of theories of institutions, institutional maintenance, and change, and we label this approach “communicative institutionalism.” We then provide a brief introduction to the set of articles contained in this forum and describe the innovative theorizing of these articles in the direction of communicative theories of institutions. Finally, we sketch a research agenda and further steps and possibilities for theory and research integrating communication and institutions.<br/

High periventricular T1 relaxation times predict gait improvement after spinal tap in patients with idiopathic normal pressure hydrocephalus

Purpose:The diagnosis of idiopathic normal pressure hydrocephalus (iNPH) can be challenging. Aim of this study was to use a novel T1 mapping method to enrich the diagnostic work-up of patients with suspected iNPH.Methods:Using 3T magnetic resonance imaging (MRI) we prospectively evaluated rapid high-resolution T1 mapping at 0.5 mm resolution and 4 s acquisition time in 15 patients with suspected iNPH and 8 age-matched, healthy controls.T1 mapping in axial sections of the cerebrum, clinical and neuropsychological testing were performed prior to and after cerebrospinal fluid tap test (CSF-TT). T1 relaxation times were measured in 5 predefined periventricular regions.Results:All 15 patients with suspected iNPH showed gait impairment, 13 (86.6%) showed signs of cognitive impairment and 8 (53.3%) patients had urinary incontinence. Gait improvement was noted in 12 patients (80%) after CSF-TT. T1 relaxation times in all periventricular regions were elevated in patients with iNPH compared to controls with the most pronounced differences in the anterior (1006 ± 93 ms vs. 911 ± 77 ms; p = 0.023) and posterior horns (983 ± 103 ms vs. 893 ± 68 ms; p = 0.037) of the lateral ventricles. Montreal cognitive assessment (MoCA) scores at baseline were negatively correlated with T1 relaxation times (r 0.6 and p Conclusion:In iNPH-patients, periventricular T1 relaxation times are increased compared to age-matched controls and predict gait improvement after CSF-TT. T1 mapping might enrich iNPH work-up and might be useful to indicate permanent shunting

Capturing Causal Complexity: Heuristics for Configurational Theorizing

Management scholars study phenomena marked by complex interdependencies where multiple explanatory factors combine to bring about an outcome of interest. Yet, theorizing about causal complexity can prove challenging for the correlational theorizing that is predominant in the field of management, given its “net effects thinking” that emphasizes the unique contribution of individual explanatory factors. In contrast, configurational theories and thinking are well-suited to explaining causally complex phenomena. In this article, we seek to advance configurational theorizing by providing a model of the configurational theorizing process which consists of three iterative stages—scoping, linking and naming. In each stage, we develop and offer several heuristics aimed at stimulating configurational theorizing. That is, these theorizing heuristics are intended to help scholars discover configurations of explanatory factors, probe the connections among these factors, and articulate the orchestrating themes that underpin their coherence. We conclude with a discussion of how configurational theorizing advances theory development in the field of management and organizations, and beyond

How national institutions limit turnaround strategies and human resource management. A comparative study in the airline industry

The influence of national institutions, particularly employee representation, on managers' turnaround strategiesremains largely unexplored in the literature. Therefore, this paper assesses the pressures that affected two Europeanairline companies, British Airways (BA) and Iberia, and their turnaround responses in a context of economic crisisand austerity, particularly from the perspective of strategic human resource management (SHRM). Our case studiesshow that when national institutions grant a number of rights to employee representatives, an innovative HRM strategy enables the recovery strategy required to deal with internal sources of decline. In contrast, when nationalinstitutions provide fewer rights to employee representatives, there is room for company HRM strategy to challengeor resist institutional pressures. Our research focuses particularly on how coercive pressures exerted by employeerepresentation, according to the legal framework governing labor relations, affect turnaround strategies.Management and Marketing Department (University of Pablo de Olavide

On the risk of studying practices in isolation: Linking what, who and how in strategy research

This paper challenges the recent focus on practices as stand-alone phenomena, as exemplified by the so-called “Practice-Based View of Strategy (PBV)” by Bromiley and Rau (2014). While the goal of “PBV” points to the potential of standard practices to generate performance differentials (in contrast to the Resource Based View), it marginalizes wellknown insights from practice theory more widely. In particular, by limiting its focus to practices, i.e. “what” practices are used, it underplays the implications of “who” is engaged in the practices and “how” the practices are carried out. In examining practices in isolation, the “PBV” carries the serious risk of misattributing performance differentials. In this paper, we offer an integrative practice perspective on strategy and performance that should aid scholars in generating more precise and contextually-sensitive theories about the enactment and impact of practices as well as about critical factors shaping differences in practice outcomes

Mediation in the Law Curriculum

Cited by Lord Neuberger in ‘Educating Future Mediators’ at the 4th Civil Mediation Council National Conference, May 201

Threat or treat for tourism organizations? The Copenhagen zoo social media storm

Social media have emerged as a game changer for tourism by empowering consumers to collectively approve or oppose organizational behaviors. When consumers rise against organizations, social media storms (SMSs) can be an outcome. This research proposes a conceptual framework to help tourism organizations understand SMSs and to guide more effective decision making. Contextualized by a case study of the Copenhagen Zoo, it is shown how and why SMSs are an expression of negative consumer empowerment that brings challenges as well as opportunities. As demonstrated, an SMS can lead to a helix for value creation for the organization, consumers, and society