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Corporate Resources (corporate + resource)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting100%

Selected Abstracts

Celebrating Design as a Corporate Resource

DESIGN MANAGEMENT REVIEW, Issue 2 2006
Thomas Walton PhD Editor
First page of article [source]

The New Design Imperative: To Satisfy and Delight

DESIGN MANAGEMENT REVIEW, Issue 1 2009
Jo Davison Vice President-Creative
Websites are corporate resources. Jo Davison's insights have to do with making them resources that generate real value in terms of brand, customer relationships, and sales. Design is the key to achieving these goals and, with illustrations from an industrial products company, a retailer, and a professional services firm, Davison details the elements of sites that are approachable, beautiful, and hard-working. [source]

Private Equity, Corporate Governance, and the Reinvention of the Market for Corporate Control

JOURNAL OF APPLIED CORPORATE FINANCE, Issue 3 2008
Karen H. Wruck
In the early 1980s, during the first U.S. wave of debt-financed hostile takeovers and leveraged buyouts, finance professors Michael Jensen and Richard Ruback introduced the concept of the "market for corporate control" and defined it as "the market in which alternative management teams compete for the right to manage corporate resources." Since then, the dramatic expansion of the private equity market, and the resulting competition between corporate (or "strategic") and "financial" buyers for deals, have both reinforced and revealed the limitations of this old definition. This article explains how, over the past 25 years, the private equity market has helped reinvent the market for corporate control, particularly in the U.S. What's more, the author argues that the effects of private equity on the behavior of companies both public and private have been important enough to warrant a new definition of the market for corporate control,one that, as presented in this article, emphasizes corporate governance and the benefits of the competition for deals between private equity firms and public acquirers. Along with their more effective governance systems, top private equity firms have developed a distinctive approach to reorganizing companies for efficiency and value. The author's research on private equity, comprising over 20 years of interviews and case studies as well as large-sample analysis, has led her to identify four principles of reorganization that help explain the success of these buyout firms. Besides providing a source of competitive advantage to private equity firms, the management practices that derive from these four principles are now being adopted by many public companies. And, in the author's words, "private equity's most important and lasting contribution to the global economy may well be its effect on the world's public corporations,those companies that will continue to carry out the lion's share of the world's growth opportunities." [source]

DO MULTIPLE LARGE SHAREHOLDERS PLAY A CORPORATE GOVERNANCE ROLE?

THE JOURNAL OF FINANCIAL RESEARCH, Issue 4 2009
EVIDENCE FROM EAST ASIA
Abstract We examine the governance role of multiple large shareholder structures (MLSS) to determine their valuation effects in a sample of 1,252 publicly traded firms from nine East Asian economies. We find that the presence, number, and size of multiple large shareholders are associated with a significant valuation premium. Our results also show that the identity of MLSS influences corporate value and that the valuation effects of MLSS are more pronounced in firms with greater agency costs. Our results imply that MLSS play a valuable monitoring role in curbing the diversion of corporate resources. [source]

Success in Global New Product Development: Impact of Strategy and the Behavioral Environment of the Firm

THE JOURNAL OF PRODUCT INNOVATION MANAGEMENT, Issue 2 2010
Ulrike De Brentani
Product innovation and the trend toward globalization are two important dimensions driving business today, and a firm's global new product development (NPD) strategy is a primary determinant of performance. Succeeding in this competitive and complex market arena calls for corporate resources and strategies by which firms can effectively tackle the challenges and opportunities associated with international NPD. Based on the resource-based view (RBV) and the entrepreneurial strategic posture (ESP) literature, the present study develops and tests a model that emphasizes the resources of the firm as primary determinants of competitive advantage and, thus, of superior performance through the strategic initiatives that these enable. In the study, global NPD programs are assessed in terms of three dimensions: (1) the organizational resources or behavioral environment of the firm relevant for international NPD,specifically, the global innovation culture of the firm and senior management involvement in the global NPD effort; (2) the global NPD strategies (i.e., global presence strategy and global product harmonization strategy) chosen for expanding and exploiting opportunities in international markets; and (3) global NPD program performance in terms of shorter- and longer-term outcome measures. These are modeled in antecedent terms, where the impact of the resources on performance is mediated by the NPD strategy of the firm. Based on data from 432 corporate global new product programs (North America and Europe, business-to-business, services and goods), a structural model testing for the hypothesized mediation effects was substantially supported. Specifically, having an organizational posture that, at once, values innovation plus globalization, as well as a senior management that is active in and supports the international NPD effort leads to strategic choices that are focused on making the firm truly global in terms of both market coverage and product offering. Further, the two strategies,global presence and global product harmonization,were found to be significant mediators of the firm's behavioral environment in terms of impact on performance of global NPD programs. [source]