Corporate Blockholdings and Firm Performance: A Multivariate Analysis

A report submitted by James D. Bogert to the Research and Creative Productions Committee in 1999 on corporate blockholdings and firm performance

Corporate Blockholdings and Firm Performance: Theory Development

A report submitted by James D. Bogert to the Research and Creative Productions Committee in 1999 on corporate blockholdings and firm performance

DIALOGUE

In a recent Academy of Management Review article, Professor Andrew von Nordenflycht (2010) focused on defining professional service firms (PSFs). In the article von Nordenflycht argues that past research leaves the term professional service firms either undefined or at best provides only examples, such as law firms, accounting firms, etc. In addition, he argues that while most scholars agree that law firms and accounting firms fit the definition of PSFs, there is little consensus on what the \u27etc.\u27 refers to. Does it include ad agencies? Physician practices? Software firms? Why or why not? (2010: 155). The author\u27s contributions include (1) identifying three distinctive characteristics associated with PSFs (i.e., knowledge intensity, low capital intensity, and a professionalized workforce), (2) arguing that while all PSFs share knowledge intensity, they may vary based on the degree of intensity of the other two characteristics (i.e., capital intensity and professionalized workforce), and (3) describing manage? rial challenges facing each structural form and providing solutions. In this dialogue we discuss the limitations of the proposed definition, question the managerial challenges von Nordenflycht associates with PSFs, and critique the corresponding solutions he offers

Understanding Congressional Reform: Lessons from the Seventies

The purpose of this article is to examine voting behavior of representatives when faced with dual constraints (constituents back home and the leadership) as compared to one constraint (constituents back home). An ambitious goal of the study would have been to examine the effects of both sets of reforms. However, there are two reasons for not using the 1995 reforms in our empirical examinations. First, not enough time has passed to fully observe the effect of term limits on voting behavior. Second, and more importantly, the leadership, whose power it was to impose a constraint on a representative\u27s promotional opportunities, lost power (due to ethical issues surrounding the Speaker) soon after implementing the reforms

Corporate Governance in Microfinance Institutions: Board Composition and the Ability to Face Institutional Voids

Manuscript Type: Empirical Research Question/Issue: We utilize institutional theory to examine corporate governance in microfinance institutions (MFIs). Many MFIs operate at the bottom of the economic pyramid (BOP), which is usually agrarian, impoverished, and plagued with institutional voids. We investigate the link between the composition of the boards of MFIs and the ability of the MFIs to face institutional voids to ensure organizational viability. Research Findings/Insights: We find that MFIs with boards that have more socio-economic expertise and female representation are better able to lower the MFI’s costs of operating at the BOP. However, this relationship weakens when the effectiveness of agrarian institutions at the BOP is low. When agrarian institutions are ineffective, the board of the MFI may have difficulty in helping the MFI reduce its costs of operating at the BOP. Agrarian crises arising from ineffective agrarian institutions tend to aggravate the various institutional voids present at the BOP, making it harder for the board to guide the MFI around the institutional voids. Theoretical/Academic Implications: We extend institutional theory to understand how boards direct and control firms operating at the BOP to face institutional voids. In some cases, a firm can fill an institutional void. However, because other institutional voids exist, the board must also help the firm develop workarounds to ensure organizational viability. We extend existing literature on board composition to highlight how human capital and gender diversity of boards can help improve the viability of firms operating at the BOP. Practitioner/Policy Implications: MFIs with high operating costs may benefit from electing a board with socio-economic expertise and female representatives. Governments and policy makers can work toward building effective social, economic, and political institutions to help create contexts that are favorable to firms (such as MFIs) that often find it difficult to operate at the BOP

Encouraging Entrepreneurship: Microfinance, Knowledge Support, and the Costs of Operating in Institutional Voids

This study focuses on the supplemented strategies of microfinance institutions (MFIs), in which the MFI offers nonfinancial services, such as entrepreneurship related knowledge, in addition to financial services to impoverished borrowers at the bottom of the pyramid (BoP). We examine two contextual factors–foreign direct investment (FDI) and loan defaults–to better understand the relationship between providing knowledge support to encourage entrepreneurship and costs of operating at the BoP for MFIs. In contexts where FDI is low and loan defaults are high, providing knowledge support to encourage entrepreneurship aggravates the MFI\u27s costs of operating at the BoP. However, in contexts where FDI is high and loan defaults are low, providing knowledge support to encourage entrepreneurship among impoverished borrowers does not aggravate the MFI\u27s costs of operating at the BoP. Hence, in emerging markets where governments welcome FDI and curb loan defaults, MFIs can viably support entrepreneurship among the poor

Investigation of the potential of fly ash as an adsorbent for removal of priority pollutants

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