Results in Journal Academy of Management Perspectives: 2,235
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Academy of Management Perspectives; https://doi.org/10.5465/amp.2020.0093
We identified policy implications of organizational behavior and human resource management (OBHRM) research based on 4,026 articles in 10 journals (2010-2019). We found that policy implications are underutilized and not part of OBHRM’s zeitgeist because only 1.5% of the articles (i.e., N = 61) included them, suggesting that OBHRM risks becoming societally irrelevant. Societal irrelevance may result in lower perceived value-added, less prestige and status compared to other fields that do offer implications for policy, and less support regarding research funding. However, we see great potential for OBHRM research to make meaningful contributions to policymaking in the future because we uncovered a handful of areas that do offer some policy implications such as labor relations, leadership, training and development, justice/fairness, and diversity and inclusion. We offer a dual theory-policy research agenda focused on (a) designing empirical studies with policymaking goals in mind, (b) converting existing exploratory and explanatory research to prescriptive and normative research, (c) deriving policies from bodies of research rather than individual studies, and (d) creating policies based on integrating theories, fields, and levels of analysis. We hope our article will be a catalyst for the creation and implementation of research-based policies in OBHRM and other management subfields.
Academy of Management Perspectives, Volume 35, pp 435-460; https://doi.org/10.5465/amp.2018.0089
By considering our experiences of a crisis at our own organization – the Jerry Sandusky child sexual abuse scandal at Penn State – we argue for the value of leveraging diverse, personally relevant insider views to better understand difficult-to-study organizational phenomena, including those that are ambiguous, contested, and/or emotional. Researchers tend to study organizational dynamics from the outside-in, seeking a dominant dispassionate interpretation. In contrast, we advocate for inside-out perspectives that give voice to introspective and reflexive views – including of researchers themselves – to account for cognitive and emotional experiences of those directly affected by events. We encourage researchers to overtly reflect on their cognitive and emotional responses to research. Such personally engaged research comes with potential biases, which researchers must mitigate. Yet such research also has distinct advantages. Researchers working from the inside-out are motivated and positioned to employ deep, long-term, real-time engagement, with access to many types of sensitive data often unavailable to outsiders. Researchers for whom events have direct personal relevance as insiders to a phenomenon and/or organization, thus, have the means to bring different and deeper insight and richer understandings to organizational research by including their experiences.
Academy of Management Perspectives, Volume 35, pp 461-484; https://doi.org/10.5465/amp.2018.0150
The overwhelming number of refugees in the world today constitutes a major socio-economic and political challenge. With more than 50 years of scholarship on global mobility, International Business (IB) should be well positioned to address this challenge. Yet the field’s historic emphasis on expatriates has resulted in dominant assumptions and perspectives that are not relevant for other groups moving across borders. Empirical path dependence has caused significant conceptual blindness. Focusing primarily on expatriates who, in fact, represent an extreme case of international transitions, has resulted in conceptualizations of international adjustment that are partial and incomplete. These conceptualizations overly rely on individual- and organizational-level factors at the expense of critical macro-level factors. Extending the domain of IB scholarship by examining the contrasting extreme case of refugees opens up the field to new theorizing and a broader, more accurate conceptualization of international adjustment. Studying the international adjustment of refugees exposes previously taken-for-granted assumptions and generates insights that will allow IB as well as general management scholars to develop more robust theories and urgently needed practical interventions.
Academy of Management Perspectives, Volume 35, pp 418-434; https://doi.org/10.5465/amp.2018.0086
Liminality refers to being “betwixt and between” (Turner, 1967). We draw on boundary theory to propose and elaborate upon the notion of “liminal researchers” – the in-between status we hold when we (1) conduct research that is personally meaningful and/or in highly familiar settings and yet (2) we are not actually a member of the group being studied. Indeed, being a liminal researcher in organizational studies denotes dwelling on the boundary of the group or phenomenon being studied and puts us in a position to be neither fully in nor fully out of the entity or topic of interest. To further develop these ideas, we draw on our personal and professional experiences as parents and researchers of individuals with developmental disabilities. We reflect on management-related projects that we conduct on students and workers with developmental disabilities and how a highly reflexive stance facilitates our research. Throughout, we use a boundary theory lens to explore being liminal researchers and provide strategies for authors, editors, and reviewers.
Academy of Management Perspectives, Volume 35, pp 400-417; https://doi.org/10.5465/amp.2018.0087
While often focused on theory building and intellectual credibility, management scholars have rich, complex lives outside of academia. Their non-work lives may inform the phenomenon they choose to study, the research questions they ask, and even how they engage with the field. We suggest management scholars may benefit from becoming more transparent about the connections between their lives and their research, and about how these connections inform the research process. Drawing on feminist methodology, we reflect back on our experience as working mothers researching pregnancy and motherhood at work. In so doing we uncover four complexities that arise when conducting research that connects to one’s personal experience. We label these complexities: 1) engaging personal and professional selves; 2) managing power dynamics; 3) integrating emotional and rational understanding; and 4) advancing theory and practice. In examining our research process from the perspective of feminist methodology, we also identify tactics researchers can engage to navigate these complexities. We conclude with a discussion of how editors, reviewers, and authors can enhance the rigor and legitimacy of personally relevant research.
Academy of Management Perspectives, Volume 35, pp 485-502; https://doi.org/10.5465/amp.2018.0153
As fields of study solidify, agreement forms among scholars on how to define and measure constructs that are foundational to theory building. We refer to this agreement process as construct convergence. While construct convergence is essential for theorizing, we suggest there may also be negative, be they unintended, consequences of construct convergence. In this paper, we explore this tension. We rely on an example from our work/family enrichment research, along with exemplars of other construct development paths, to identify the drivers of construct convergence and illustrate how construct convergence may inhibit construct evolution that integrates new theoretical perspectives and is attentive to shifting organizational and work realities. We conclude with a discussion of how scholars can better manage the tension between construct convergence and construction evolution so that we continue to build robust theory that remains connected to contemporary management practice.
Academy of Management Perspectives, Volume 35, pp 335-346; https://doi.org/10.5465/amp.2018.0009
Personally relevant research is defined as research that addresses questions in which scholars are personally invested or involves populations to which they belong or in which they hold a personal interest. This symposium argues that such connections to one’s research may enhance rather than detract from its quality and impact.
Academy of Management Perspectives, Volume 35, pp 347-366; https://doi.org/10.5465/amp.2018.0083
For decades, training in management research has emphasized objectivity, typically viewed as an arm’s length distance between the topic of the research and the interests of the researcher. This emphasis has led most scholars to avoid research topics of deep personal relevance – or at least to avoid acknowledging such relevance. We argue that this headlong pursuit of objectivity has led the field to vastly undervalue what we call self-relevant research: immersive field research on a topic with which the researcher has had significant personal experience, and which is important to or part of the researcher’s self-identity. As an illustrative case, we draw on our own current experience in a team of scholars doing self-relevant research on retirement. We argue that an embrace of self-relevant research can enhance the richness, validity, and methodological diversity of management research, and can actually be essential for understanding phenomena that involve unusual experiences, high degrees of emotionality, or identity issues. We discuss the advantages and challenges that arise when researchers have a deeply personal connection to the topic of research, and we describe measures that researchers can take to leverage the advantages and mitigate the challenges of doing such personally relevant research. We also highlight the particular value of engaging in group self-reflection in the course of collaborative research of this type, and discuss implications for both the field and researchers in management science.
Academy of Management Perspectives, Volume 35, pp 557-561; https://doi.org/10.5465/amp.2020.0138
The authors of the Exchange article argue that rather than applying to all firms, stakeholders, and situations, our model of stakeholder influence in the digital age does not fit independent, owner-managed small firms dealing with local stakeholders in unfolding/uncertain/crisis situations. We freely acknowledge that we did not have this particular combination of factors in mind when formulating our model. Thus, we welcome the opportunity to explore the implications of the combination of size, proximity, and crises for our model. We conclude that, while further attention to potential limitations of our model is warranted, this particular stylized combination of factors does not substantively bound our model, and is actually largely consistent with it.
Academy of Management Perspectives, Volume 35, pp 367-383; https://doi.org/10.5465/amp.2018.0088
Leveraging my personal narrative, stemming from conducting research in a personally relevant context with marginalized participants, I use standpoint theory (e.g., Harding, 2015) and a posttraumatic growth lens (Tedeschi & Calhoun, 2004) to provide insights about how researchers might learn and grow from a rejection of traditional objectivity in these settings. Specifically, I highlight my experiences in volunteering at, and then collecting data within, an organization which aims to improve the lives of women who have been commercially sexually exploited. By sharing my narrative, I hope to destigmatize the acknowledgement of personal connections with participants prior to, during or after data collection, particularly in contexts involving marginalization, in order to drive conversations that better address the emotional and psychological realities of completing this important but challenging work. To that end, I argue that actively addressing the limitations of objectivity under these circumstances might provide researchers with opportunities for positive scholarly growth. By allowing researchers to have honest discussions about their connections to participants and the emotions that surround their work, they may be better equipped to conduct research which benefits the field, while gaining valuable skills and insights. Recommendations for both researchers and the field of organizational sciences are provided.
Academy of Management Perspectives, Volume 35, pp 503-516; https://doi.org/10.5465/amp.2018.0156
Social scientific research on the meaning of work has depended mostly on workers’ own reports. These reports have contributed to our understanding of what makes work meaningful. However, research has treated the meaning of work as an individual-level phenomenon evaluated from a worker’s perspective. This empirical path does not capture how meaning is influenced by the perspectives of others. This paper asserts that research based on personal observations and experience limits our understanding of the meaning of work. We use accounts from third-person perspectives to show how meaning is perceived by someone other than the worker. We advocate the use of novel data sources that consider the meaning of work seen through the eyes of others. We develop two examples: the collected oral histories in Studs Terkel’s Working, and the “Portraits of Grief” from the New York Times, narratives based on interviews with relatives and friends of 9/11 attack victims. In both cases, diverse people reflect on the place of work in a meaningful life. Third-person perspectives offer unique insight and practical guidance on what work means and how it is viewed by others. These views also mirror broad societal values about the importance of work in life.
Academy of Management Perspectives, Volume 35, pp 331-333; https://doi.org/10.5465/amp.2021.0128
Academy of Management Perspectives, Volume 35, pp 535-556; https://doi.org/10.5465/amp.2018.0028
Relationships drive numerous organizational capabilities. While this is generally acknowledged, many of the most widely used frameworks guiding research and practice in human resource management (HRM) do not explicitly incorporate social capital and social network factors in their designs, despite recognition that relationships are influential. In this paper, we argue for an explicit integration and application of social capital mechanisms in strategic HRM frameworks. We illustrate how a relationship lens can contribute to strategic HRM thinking at the individual level using extensions of the job characteristics model (Hackman & Oldham, 1976), at the group level by enhancing the design of effective workgroups (Campion, Medsker & Higgs, 1993), and at the organizational level by augmenting the HR architecture (Lepak & Snell, 1999). Further, consistent with the emerging co-evolution perspective on micro-foundations of organizational outcomes, we propose that social capital and its development should be considered an input to HRM policies and practices, an element in implementation processes, and an outcome of HR activities. The proposed ideas both fill a gap in current strategic HRM theory and practice and challenge some of the basic assumptions guiding much of the work in this area. Implications for research and practice are discussed.
Academy of Management Perspectives, Volume 35, pp 384-399; https://doi.org/10.5465/amp.2018.0090
This paper examines the role that the two lead authors’ personal connections played in the research methodology and data collection for the Partition Stories Project - a mixed methods approach to revisiting the much-studied historical trauma of the Partition of British India in 1947. The Project collected survivors’ oral histories, a data type that is a mainstay of qualitative research, and subjected their narrative data to statistical analysis to detect aggregated trends. In this paper, the authors discuss the process of straddling the dichotomies of insider/outsider and qualitative/quantitative, address the “myth of informed objectivity”, and the need for hybrid research structures with the intent to innovate in humanities projects such as this. In presenting key learnings from the project, this paper highlights the tensions that the authors faced between positivist and interpretivist methods of inquiry, between “insider” and “outsider” categories of positionality, and in the quantification of qualitative oral history data. The paper concludes with an illustrative example from one of the lead authors’ past research experiences to suggest that the tensions of this project are general in occurrence and global in applicability, beyond the specifics of the Partition case study explored here.
Academy of Management Perspectives, Volume 35, pp 517-534; https://doi.org/10.5465/amp.2015.0056
Academy of Management Perspectives, Volume 35, pp 562-566; https://doi.org/10.5465/amp.2021.0001
Original article: Aguinis, H., Cummings, C., Ramani, R., and Cummings, T., “An A is an A:” The New Bottom Line for Valuing Academic Research, https://doi.org/10.5465/ amp.2017.0193
Academy of Management Perspectives; https://doi.org/10.5465/amp.2021.0049
Academy of Management Perspectives; https://doi.org/10.5465/amp.2019.0170
Privatizations of state-owned enterprises are associated with significant gains in efficiency post-privatization, born from both exposure to product market competition and improved managerial incentives resulting from ownership structure changes. However, for one very important set of industries—those such as utilities which are natural monopolies—privatization alone will not engender product market competition. We argue that regulation which induces firms to innovate new products, services, and processes that reduce costs are crucial for privatized natural monopolies. We compare the innovation-incentivizing effects of the two major regulatory regimes, the rate of return (RoR) regulatory model and the price-capping (PC) model. We argue that RoR regulation inhibits innovation in privatized natural monopolies by discouraging managers from minimizing costs and making long-term positive net present value investments. In contrast, PC regulation can induce innovation, but may not prevent utilities from extracting rents from consumers. We discuss trade-offs between discouraging both innovation and rent extraction by adopting RoR regulation, or facilitating innovation but allowing rent-extraction by adopting PC regulation. We present a normative solution, “induced-lag rate of return” regulation, which offers a middle ground solution to this trade-off problem. This novel regulatory structure allows firms/managers to benefit from long-term innovative investments while maintaining competitive pressure on prices
Academy of Management Perspectives; https://doi.org/10.5465/amp.2019.0198
Capitalism, characterized by by private ownership, coordination through markets, and decentralization, is blamed for a variety of economic, environmental, and social ills. These critiques often confuse capitalism with cronyism, a system of government favoritism toward particular firms. We show how this confusion harms management research, teaching, and practice.
Academy of Management Perspectives; https://doi.org/10.5465/amp.2021.0007
While research on abusive supervision is thriving, we still know very little about the sustained nature of the phenomenon. Additionally, most papers focusing on the prolonged character of the detrimental relational dynamic take a within-dyad perspective, largely ignoring within-person, group or other external influences. Addressing these gaps in the literature, we introduce the Barriers Model of Abusive Supervision. This model posits a hierarchically organized set of obstacles that make it difficult for followers to escape the abusive supervisor, explaining why abuse can continue over long periods of time. Specifically, we present an onion-shaped model in which the follower has a central position with each subsequent layer representing a more external cluster of barriers to leaving the abusive supervisor. Ranging from external to internal, these layers are: Barriers in the larger societal context (Layer 1; e.g., ambiguous laws), barriers in the organizational context (Layer 2; e.g., unclear policies), barriers due to the abusive supervisor (Layer 3; e.g., isolating followers), and barriers within the abused follower (Layer 4; e.g., implicit leadership theories). We hope that our model inspires future research on the sustained nature of abusive supervision and provides practitioners with the necessary background information to help abused followers escape their supervisors.
Academy of Management Perspectives; https://doi.org/10.5465/amp.2021.0077
Academy of Management Perspectives; https://doi.org/10.5465/amp.2020.0051
There are growing concerns about making our work matter in society and organizations, narrowing the theory-practice gap by doing research that has impact. In this paper, we suggest that there is more at stake than the issue of relating theory to practice, that we need to consider how we generate knowledge and think about its relevance. We argue that at the heart of such an endeavor lie critical ontological and epistemological considerations: first, the need to rethink our self–Other relationships – the nature of the relationship between ourselves as scholars and community members; and second, the need to generate more situated and relational forms of knowing-from-within that address social and environmental issues. Drawing on the work of critical sociologist Michael Burawoy, we elaborate four approaches to generating knowledge within Organization and Management Studies, arguing that a Public Organization and Management Studies offers one way of making our work matter, requiring us to move from being spectators of the world to becoming actively engaged with multiple Others in generating knowledge and action. We discuss both the challenges and opportunities of a Public OMS, offering examples of how we can become more actively engaged.
Academy of Management Perspectives, Volume 35, pp 314-323; https://doi.org/10.5465/amp.2019.0106
To clarify the ongoing debate over the balance of global-positivism and local nuance in International Business (IB), we mapped the ontology from 1965 through 2018. Though imbalanced, IB has progressively pursued local nuance through an expanding variety of environments, operations, phenomena, and methodologies. We offer ways to continue its ontological uniqueness. Original article: Konstantinos Poulis and Efthimios Poulis, International Business as Disciplinary Tautology: An Ontological Perspective, Academy of Management Perspectives, https://journals.aom.org/doi/10.5465/amp.2017.0050
Academy of Management Perspectives, Volume 35, pp 208-218; https://doi.org/10.5465/amp.2018.0064
The field of strategic human resource management has established a clear positive relationship between human resource practices and organizational performance. However, much of the research in this field has focused on commitment-eliciting HR practices and neglected control-oriented HR practices. In this article, we review the strategic human resource management literature since Arthur’s 1992 work on commitment and control HR practices and demonstrate that the field has implicitly adopted a normative paradigm favoring commitment HR practices. In doing so, we explicate why the focus on commitment HR practices has hindered our understanding of the horizontal fit of HR practices. We suggest that this is problematic in light of recent research demonstrating that control HR practices independently affect performance and may interact with commitment HR practices to affect performance. Additionally, we provide guidance for future research that incorporates both commitment and control HR practices.
Academy of Management Perspectives, Volume 35, pp 165-174; https://doi.org/10.5465/amp.2021.0051
Academy of Management Perspectives, Volume 35, pp 175-180; https://doi.org/10.5465/amp.2019.0070
The theoretical soundness and practical relevance of SHRM scholarship has recently come under scrutiny. The goal of this symposium is to offer a starting point for SHRM scholars to rethink our approach to understanding the achievement of competitive advantage through human resources, guided by a reconsideration of what it means to achieve horizontal fit and vertical fit in HRM. Collectively, the three papers in this symposium contribute to this effort through a reconsideration of the content of the HR systems we study, an expansion of the strategic bases against which we consider the vertical fit of HR systems, and a more explicit incorporation of complexity and change into our understanding of both the horizontal and vertical fit of the HR “ecosystems” in organizations. In this paper I introduce the key issues and questions with which the papers in the symposium interface and highlight potential avenues that future SHRM scholarship could pursue to address them.
Academy of Management Perspectives, Volume 35, pp 292-309; https://doi.org/10.5465/amp.2017.0159
Many of the key tasks in the research process for the physical sciences have been successfully automated, resulting in prototype ‘automated scientists’ that have been effective in producing and reporting original research. The purpose of this paper is to explore 1) the possibility of automating the key tasks in the scientific research process for the management and business sciences, 2) where our technology currently stands with respect to automating these processes, and 3) the implications and resulting research questions of a future of automated, or at least partially-automated, management and business science. We synthesize reports from the mass media, academic literature, and the results of a Delphi study to provide a preview of the potential for automating technologies to affect the work of business researchers. The results indicate that many current technologies can be applied to further automate researchers’ tasks, and that scientists in automation and artificial intelligence are actively working to do so. We then discuss the implications of an increasingly automated science, and present questions which should advance discourse among researchers in the management and business sciences.
Academy of Management Perspectives, Volume 35, pp 248-264; https://doi.org/10.5465/amp.2017.0223
Star employees create disproportionate value for organizations. However, managing stars is decidedly difficult. Scholars have not yet appropriately addressed this practical problem. Much of the problem is interpreting our theoretical models that convey human capital from a static perspective. By combining incomplete contract theory with human capital research and theories of strategy, we show how existing theory can provide a framework for solving problems related to managing stars while also offering a platform for further research within the strategic human capital field. To do this, we recap extant theory and examine how stars create value for an organization by co-developing firm-specific while simultaneously developing general human capital. Second, we provide a practical dynamic value appropriation framework illustrating how the employer and the employee determine who captures the value stars create as they go through the employment life cycle.
Academy of Management Perspectives, Volume 35, pp 310-313; https://doi.org/10.5465/amp.2019.0108
This is a reply essay, not a full paper.
Academy of Management Perspectives, Volume 35, pp 237-247; https://doi.org/10.5465/amp.2020.0099
Research in strategic human resource management (SHRM) has largely focused on internally consistent HRM practices (horizontal fit) better characterized as tactical implementation rather than strategic formulation. I propose an attention-based view of the firm to reframe SHRM research and policy to support strategy formulation based on environment conditions (vertical fit).
Academy of Management Perspectives, Volume 35, pp 324-330; https://doi.org/10.5465/amp.2020.0070
Academy of Management Perspectives, Volume 35, pp 265-291; https://doi.org/10.5465/amp.2016.0048
Academy of Management Perspectives, Volume 35, pp 219-236; https://doi.org/10.5465/amp.2018.0069
The concepts of fit and alignment have been foundational to the field of strategic human resource management. And while the theoretical premises that underlie these concepts remain useful and intuitively compelling, the lack of empirical evidence to support them proves problematic. Part of the reason, we suspect, is that our research on fit and alignment does not fully reflect realities of contemporary organizations or the practical challenges faced by managers. We argue that HR researchers have an opportunity to reframe concepts of fit and alignment to better reflect the complexities and dynamics of contemporary models of strategy and organization. We suggest that an ecosystem perspective can help us study the processes of alignment, not just its static features. It can help to depict the interactions among elements of the workforce compositions, capabilities and cultures. Because these interactions are myriad and constantly in flux, HR researchers might approach alignment in an evolutionary way where practices are constantly changing and then being reintegrated into the system to assure consistency and synergy. The benefit of doing so might reinvigorate research on strategy and HR.
Academy of Management Perspectives, Volume 35, pp 181-207; https://doi.org/10.5465/amp.2018.0065
Although the strategic HRM (SHRM) stream of research has made impressive progress in recent years, the majority of it has become centered on the “universalistic” relationship of a particular kind of HR system, most commonly labeled as a high performance work system (HPWS), with firm level dependent variables. We argue that a broader perspective on strategy, applied to HRM, leverages strategic factor market theory within the resource-based view of the firm (RBV) to suggest novel kinds of research questions for SHRM. In particular, we highlight four specific under-researched areas of inquiry for SHRM: 1) HRM capabilities, 2) intangible strategic assets, 3) the “market” for HR practices, and 4) complementarities. Our discussion of these topics shares a common emphasis on the causes and consequences of firm level heterogeneity with respect to HRM. The strategic perspectives discussed in this paper suggest new ways to consider where, in the relationship between HRM and firm performance, such heterogeneity and, relatedly, competitive advantage through people, may be found.
Academy of Management Perspectives, Volume 35, pp 142-164; https://doi.org/10.5465/amp.2017.0215
Academy of Management Perspectives, Volume 35, pp 69-95; https://doi.org/10.5465/amp.2017.0208
Academy of Management Perspectives, Volume 35, pp 25-44; https://doi.org/10.5465/amp.2017.0204
While research commonly assumes business-owning families are concerned about the preservation of control, more and more families seek cooperation with external investors to accomplish firm- and/or family level-goals. In this paper, we provide a conceptual configuration of the different governance scenarios that may arise when family owners attract outside capital. Combining two important family objectives - the objective to provide liquidity either to the family or to the firm, and the objective to cede or to retain long-term family control - we identify four scenarios with different governance implications and preferred types of external investors. Our analysis contributes to an increased understanding of the evolving structures of ownership in private family firms, the effectiveness and efficiency of governance arrangements in family firm-external investor cooperations and the increasingly heterogeneous private equity funding landscape.
Academy of Management Perspectives, Volume 35, pp 123-141; https://doi.org/10.5465/amp.2017.0030
A key role of board directors is to govern corporate strategy. Whereas prior research has provided insights into board roles and activities regarding board governance, the underlying capabilities required to govern effectively remain understudied. This article explores and explicates a capability-based view of board actions in which the specific capabilities that enable boards to govern strategic activities are identified. We specifically examine the conceptual foundations and different types of board capabilities, drawing on illustrative cases as well as information from interviews with board directors in the United States, Asia, and Europe. We then discuss several future research directions that can enrich our understanding of the effects of board capabilities on board governance. This article introduces a fine-grained perspective on board governance that examines the individual director, interpersonal, and board levels. By highlighting the need to build the foundation of governance capabilities at multiple levels, we extend our understanding of the compositional challenges for boards and their governance.
Academy of Management Perspectives, Volume 35, pp 45-68; https://doi.org/10.5465/amp.2018.0060
This paper examines the private equity (PE) corporate governance model by bringing together the insights from legal scholarship, management studies, finance economics, and government data. While the PE business model emerged to solve the principal-agent conflicts found in large publicly traded corporations, we argue that it creates principal-agent conflicts higher up the investment chain – between the limited partner (LP) investors, or principals in PE funds, and the general partners (GP) or agents who administer those funds. We draw on and extend multiple agency theory and examine three types of asymmetries that may undermine the interest alignment of GPs and LPs: Asymmetries of power, information, and incentives. Using this framework, we consider the economic outcomes for stakeholders, whether solutions exist for better interest alignment, and the implications for future research and policy development.
Academy of Management Perspectives, Volume 35, pp 9-24; https://doi.org/10.5465/amp.2017.0191
Academy of Management Perspectives, Volume 35, pp 1-8; https://doi.org/10.5465/amp.2018.0182
This article begins by setting out the rationale for the symposium on alternative finance and governance. New organizational forms of alternative finance provision have grown in importance in recent years, creating opportunities to challenge and extend existing models of corporate governance, which have been focused mainly on large, publicly traded corporations. It then summarizes the papers in the symposium which relate to crowdfunding, business angel co-investing with other forms of finance, minority private equity investments in family firms and the performance of private equity funds, before setting out an agenda for further research that relates to other new organizational forms of finance providers, notably accelerators and sovereign wealth funds. The paper emphasizes the need to take account of the variety of goals of the new organizational forms providing alternative finance and the enterprises they fund, such as social enterprises and student entrepreneurship ventures. The article points to the need for studies on the real economic impact of the new forms of alternative finance provision.
Academy of Management Perspectives, Volume 35, pp 96-122; https://doi.org/10.5465/amp.2018.0059
Deploying more than $65 billion in capital globally and with more than 900 campaigns in 2018, activist hedge funds represent “the activist” in the capital market and are having a significant influence on corporate governance and strategy and even the ownership of companies. While finance scholars have focused on understanding what firms they target and the performance repercussions of their campaigns, management scholars have largely ignored this important constituent. Based on our extensive research on the context of hedge fund activism we provide a research agenda that articulates the opportunities for management scholars to conduct research on this important phenomenon. By shedding light on the dynamics of hedge fund activism, management scholars have the opportunity to provide greater clarity as to whether these activists are shareholder champions or whether they undermine the long-term strategic health of companies.
Academy of Management Perspectives; https://doi.org/10.5465/amp.2020.0126
Original article: Fergnani, A., Corporate foresight: A new frontier for strategy and management, https://doi.org/10.5465/amp.2018.0178
Academy of Management Perspectives, Volume 34, pp 585-602; https://doi.org/10.5465/amp.2019.0049
Currently, the global mood is one of anxiety and fear over “looming megacatastrophes” (LMCs) such as climate change, pandemics, or nuclear war. The important implications of these proliferating fears in the broader public notwithstanding, we concern ourselves with how this widespread and growing fear of “impending doom”—which we refer to as “Big F” Fear—relates to entrepreneurial activity. While a host of fears (e.g. fears of failure, rejection) have been explored theoretically and empirically in the entrepreneurship literature, the dominant approach to examining fear has mostly been individual and situation specific across a limited time frame—i.e., “little f” fears. We aim to explore whether entrepreneurship works the same way in the context of “Big F” Fear (i.e. the fear of “impending doom” that exists across large populations simultaneously, over an extended period of time) as it does under normal conditions. In doing so, we draw on construal level theory to explain how entrepreneurs’ perceptions of their psychological distance to the effects of a LMC relate to affective (i.e., Fear) and behavioral (i.e., entrepreneurial activity) outcomes.
Academy of Management Perspectives, Volume 34, pp 425-433; https://doi.org/10.5465/amp.2020.0133
Academy of Management Perspectives, Volume 34, pp 458-479; https://doi.org/10.5465/amp.2019.0018
Humanity is facing a global threat caused by growing antibiotic resistance. If the current lack of innovation in antibiotics persists, we will face a doomsday scenario with drastic implications for society, health, and business worldwide. In this study, we examine international multisectorial partnerships (IMSPs), one of the policy interventions introduced to incentivize the antibiotic innovation necessary to avoid such a scenario. Based on insights from three recently launched antibiotics IMSPs, we present their key features and argue that such partnerships represent a novel type of organizational form and governance, different from others discussed in previous research. Specifically, antibiotics IMSPs are inter-organizational structures showing great governance complexity, strong centralized control, strict boundaries, and formalization of roles and rules. We discuss how antibiotics IMSPs differ from other partnerships dealing for instance with the environmental global challenge and their usefulness in other contexts where similar uncertain, risky, urgent, and complex tasks need to be faced. We conclude with implications for theory as well as for policy and managerial practice, along with avenues for future research.
Academy of Management Perspectives, Volume 34, pp 531-545; https://doi.org/10.5465/amp.2019.0013
The number of refugees is predicted to increase continually this century. We tackle the topic of the global refugee crisis and, in particular, its business and management implications. We investigate the dynamics of refugee integration and settlement processes, and present evidence for the specific challenges associated with the refugee crisis. Drawing on the organizational justice and inclusion literatures, we present the benefits of using organizational justice theory as a template for understanding refugee inclusion and for developing organizational practices and policies that support refugee inclusion. Supporting the UN’s call for more company participation in achieving Sustainable Development Goals, we argue for more active involvement of host country organizations as part of the solution to this global crisis. We also call for greater attention from business and management scholars to issues related to forced migration and refugee inclusion in the workplace. We discuss implications for theory, business practices, and public policies.
Academy of Management Perspectives, Volume 34, pp 480-492; https://doi.org/10.5465/amp.2019.0023
The extent and impact of neglected diseases has been well documented in the public health and medical science literature. However, from an organizational perspective, there is a gap in understanding the complex relationships that underpin the functioning of Product Development Partnerships (PDPs) in managing the drug development process. This paper focuses on (a) identifying the importance of PDPs in the development of new drugs for neglected and emerging infectious diseases; and (b) identifying the key stakeholders, their relationships and (levels) of dependencies in PDPs through the resource dependency lens. Our model offers a unique perspective to the strategic alliance literature by not only showing the complex interrelationships between various stakeholders but also in highlighting power, trust and governance ask key challenges. Based on our findings, we suggest an agenda for future research that enhances our understanding to mitigate risks related to neglected and emerging infectious diseases from an organizational perspective.
Academy of Management Perspectives, Volume 34, pp 546-565; https://doi.org/10.5465/amp.2019.0029
While there is some scholarship in management and organization studies on forms of organized violence, it has rarely focused on the role of organized violence within wider business-society and governance relations. In this article, we argue that conceptualizing the role and capacity of the state is still paramount, precisely because it is normally the state that holds a monopoly on violence. Yet, this state monopoly has continuously been eroded as private firms and civil society actors are increasingly involved in paramilitaries, trafficking, mafia-like and terrorist organizing and other forms of organized violence. To help management and organization scholars appreciate and make sense of these dynamics in contemporary economic affairs, this article puts forward a conceptualization of business-society relations of organized violence. We develop six propositions that seek to understand organized violence within, what we call, the ‘governance triangle’ of state-firm-civil society relations. These propositions give rise to three ‘doomsday scenarios’: 1) Rise of military dictatorships; 2) Rise of private security monopolies and oligopolies; 3) Rise of civil wars. We conclude the article by outlining the implications of such a violence-based view for management and organization scholars.
Academy of Management Perspectives, Volume 34, pp 434-457; https://doi.org/10.5465/amp.2019.0007
How will groups of survivors behave in a doomsday scenario? Will there be competition for scarce resources? Will they collaborate in reconstruction? We cannot research these questions directly, but we can find clues in four places. First, there are historical examples of apocalyptic events. Second, social identity theory offers explanations of group behavior. Third, there are studies of group dynamics in extreme contexts. We discuss the limitations of those three sources, prompting us to turn to a fictional account in search of ideas. Adopting a narrative theoretical lens, we consider ‘the theory on offer’ in the television series The Walking Dead, which portrays a zombie apocalypse. We find that group behavior is shaped by the nature of survivor group composition, and by the properties of the doomsday context they face. We demonstrate the potential for the emergence of a dark, violent side of group behavior. We illustrate a methodological solution to the problem of researching extreme contexts using ‘speculative fiction’. And we break new ground by exploiting the zombie movie genre, which addresses the ‘failure of imagination’ that can increase society’s vulnerability to unforeseen events. Our analysis has implications for organization theory, and for policy and practice in doomsday scenarios.