Purpose Despite the importance and prevalence of corporate political activities in modern organizations, there remains limited insight on potential relationship between contributions companies’ risk-taking activities. This study aims to examine monetary firms context unstable economic environments. Design/methodology/approach The authors use a two-step system GMM estimation investigate subject ...

Strategic Alignment of the corporate strategy and the project management system Alignment of strategic and project management systems is essential for economic survival and growth. The corporate vision has to include the needs of customers and stakeholders while promoting internal learning and innovation. An effective strategic management system offers many benefits: o Development of a learning...

(" Biform Games "). Appendix C uses the efficiency results (Propositions 5.1 and 5.2) in the main text to frame some of the ideas in the corporate-strategy literature. Appendix D contains further comments on the efficiency results. Corporate (multibusiness) strategy is the study of when 'the whole is worth more than the sum of the parts.' Alternatively put, corporate strategy is about the oppor...

Built on the knowledge management and corporate growth literatures, this paper examined the antecedents of knowledge management strategy and its consequences. Grounded in the resourcebased view and corporate growth theory, this study found that a firm’s knowledge management strategy and strategic performance relate to long term corporate growth. Learning orientation has also been found relates ...

Countries need short, medium, and long-term investment plans for production growth and development. Different sources for these investments can be supplied through retained profit, stock issuance, and bank loans, or a combination them. Institutions and firms need huge amount of capitals for their survival, production, and also development of activities. In addition, these institutions and firms...

We analyze the factors that affect security issuance and its impacts on the volatility of stock returns before and after the issuance under heterogeneous beliefs and short sale constraints using the issuing sample of convertible bonds, corporate bonds and stocks in China’s security market during 2007 to 2012. The empirical tests identify that abnormal turnover can portray heterogeneous beliefs ...

This paper analyzes how corporate capital gains taxes affect the capital gain realization decisions of firms. The paper outlines the tax treatment of corporate capital gains, the consequent incentives for firms with gains and losses, the efficiency consequences of these taxes in the context of other taxes and capital market distortions, and the response of firms to these incentives. Despite rec...

We study how interactions between financing and investment decisions can shape firm boundaries in innovative markets. In particular, we model innovative projects as growth options and ask whether they are best operated inside large incumbent firms (Integration) or in separate, specialized firms (Non-Integration). Starting from a standard theoretical framework, in which value-maximizing corporat...

We study the implications of credit market frictions for the dynamics of corporate capital structure and the risk of default of corporations. To do so, we develop a dynamic capital structure model in which firms face uncertainty regarding their ability to raise funds in credit markets and have to search for investors when seeking to adjust their capital structure. We provide a general analysis ...