Outline

  • Abstract
  • Keywords
  • 1. Introduction
  • 2. Theory and Literature Review
  • 3. Hypothesis
  • 3.1. Performance Consequences of Problemistic Search
  • 3.2. Moderators
  • 3.2.1. Pressure to Adapt
  • 3.2.2. Ability to Adapt
  • 4. Methods
  • 4.1. Data and Sample
  • 4.2. Dependent Variable
  • 4.3. Explanatory Variables
  • 4.4. Control Variables
  • 4.5. Analyses
  • 4.6. Split Sample Analysis
  • 5. Results
  • 6. Discussion
  • 6.1. Contributions
  • 6.2. Practical Implications
  • 6.3. Future Research
  • 7. Conclusion
  • References

رئوس مطالب

  • چکیده
  • کلیدواژه ها
  • 1. مقدمه
  • 2. نظریه و مروری بر تحقیقات پیشین
  • 3. فرضیه
  • 3.1 نتایج عملکردی جستجوی مشکل محور
  • 3.2 تعدیل کننده ها
  • 4. روشها
  • 4.1 داده ها و نمونه
  • 4.2 متغیر وابسته
  • 4.3 متغیرهای توضیحی
  • 4.4 متغیرهای کنترل
  • 4.5 تحلیل ها
  • 4.6 تحلیل نمونه دو بخشی
  • 5. نتایج
  • 6. بحث
  • 6.1 کمک های تحقیق حاضر به مقالات موجود
  • 6.2 مطالعه ما مفاهیم و کاربردهای عملی نیز برای سازمان ها دارد.
  • 6.3 تحقیقات آینده
  • 7. نتیجه گیری ها
  • منابع

Abstract

Although the behavioral theory of the firm posits that performance shortfalls trigger problemistic search, the actual performance consequences of problemistic search remain an open question. We argue that certain cognitive, affective, and behavioral mechanisms triggered by performance shortfalls make managers more aware, attentive, motivated, and disciplined, resulting in adaptation, learning, and enhanced firm value. Furthermore, differences in the extent to which managers feel pressured to adapt, and have the ability to adapt, can shape managerial awareness, motivation, and capability, and hence firm value. Our empirical analysis, using data for a sample of US manufacturing firms (1994–2013), confirms that problemistic search enhances firm value, and this association is strengthened when firms face greater pressure to adapt or have a greater ability to adapt.

Keywords: - - - -

Conclusions

This study represents an important step towards understanding the performance implications of problemistic search and fnds evidence of a value-enhancing strategic response triggered by performance feedback. Our fndings reflect Greve’s (2003a:158) assertion that “(b)ecause of the uncertain value of new strategies, strategic change is likely to be benefcial for a low-performing organization….”. It appears that awareness, focused attention and motivation, along with associated capabilities, enable managers to make value-enhancing investment decisions under conditions of attainment discrepancy. Our work thus sheds new light on the primacy of performance feedback as the master switch that creates value from investment in search.

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