School of Business and Free Enterprise
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This collection includes scholarly output from both faculty and students in the School of Business and Free Enterprise.
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- ItemCorporate governance in immigrant-founded entrepreneurial firms: ownership heterogeneity and firm performance(Venture Capital, 2023-02) Moghaddam, Kaveh; Judge, William Q.; Lewellyn, Krista B.; Askarzadeh, FatemehDrawing from resource dependence theory and the faultlines perspective, this study examines how ownership heterogeneity affects firm performance in the understudied context of entrepreneurial firms founded by immigrants. We find that investment by venture capitalists (VCs) is associated with immigrant-founded entrepreneurial firms being less profitable during their infancy stage. Our results also reveal that the presence of a native-born co-owner has a negative effect on performance for these entrepreneurial firms. This study suggests that immigrant entrepreneurs be more cautious about the costs and benefits of seeking resources from VCs and partnering with native co-owners. Further, seeking capital from alternative sources and employing native talent and expertise in terms of business advisers or executive managers may be effective alternative approaches for immigrant entrepreneurs. [ABSTRACT FROM AUTHOR] Copyright of Venture Capital is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- ItemA configurational perspective of boards' attention structures(Corporate Governance: An International Review, 2022-11) Schiehll, Eduardo; Lewellyn, Krista B.; Yan, WenxiResearch Question/Issue Research Findings/Insights Theoretical/Academic Implications Practitioner/Policy Implications What combinations of board attributes and contextual factors explain boards' selective distribution of attention between their dual role of resource provisioning and monitoring? At the board level, we consider board structure and breadth of knowledge, while the context in which boards operate is captured by the degree of external scrutiny, operational complexity, performance, and ownership structure.Our study demonstrates that there are multiple ways board attributes bundle and combine with important elements of the context to promote similar board attention structures. Our findings provide evidence of the causal complexity underlying this phenomenon and corroborate the notions of equifinality and asymmetric causality among board‐, firm‐, and institution‐level conditions conducive to boards allocating more attention to either their resource provisioning or monitoring roles.Our findings support the attention‐based view (ABV), suggesting that boards' selective distribution of attention is regulated by the combination of skills and knowledge directors bring to the firm and the stimuli provided by contextual factors. In doing so, we underscore the need for an extended theory on board effectiveness, as resource dependence‐ and agency‐based prescriptions about boards' behavior may be incomplete, since there is limited consideration by these theories of the bounded rationality of directors and the complex relationships between the factors that can frame boards' selective distribution of attention.Our study informs efforts to disentangle the conditions under which different attributes combine and regulate boards' distribution of attention, which has implications for nomination committees and powerful actors who have influence on board appointments. Because our results reveal several causal paths that can promote similar board attention structures, decision makers may wish to recruit directors with specific attributes that will be the best fit for the firm's contextual conditions. [ABSTRACT FROM AUTHOR] Copyright of Corporate Governance: An International Review is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- ItemReducing Salesperson Turnover Intentions via Organizational Market Orientation and Selective Hiring: A Job Demand-Resources Approach(Journal of Business-to-Business Marketing, 2022-12) Fleming, David E.; Artis, Andrew B.; Harris, Eric G.; Fergurson, J. Ricky; Askew, Matthew A.This study is designed to respond to repeated calls for research on sales person retentionby building upon a mature research stream to identify ways to reduce turnover in boundary spanning employees and the resultant effect it has on organizational productivity. Specifically, this research draws on the Job Demands-Resources model to explore the effect of employee perceptions of firm market orientation as a way to reduce role stressors and subsequently turnover intentions. It also looks at employee traits that may serve as a buffer to the role stress to turnover intentions link and can be part of the hiring selection process (in this case grit). In so doing, this research uses a sample of early career salespeople to examine the effects of a firm's market orientation (MO) and selective hiring for specific traits (level of grit) on a salesperson's intention to quit using Job Demand-Resources as a framework. The authors utilized a questionnaire to collect data from a sample consisting of 260 respondents who were employed full-time and worked in either B2B or B2C sales as boundary-spanning employees. The measures utilized in this study have been used in previous research and have demonstrated acceptable reliability and validity. Analysis of the latent constructs was conducted using PLS-SEM. The model was assessed as specified in the hypotheses and was estimated using the PLS algorithm to obtain path coefficient estimates. Findings suggest that organizations can benefit internally from strong MO by mitigating stressors placed on boundary-spanning employees. Those who perceived strong MO in their employer experienced more clearly defined roles, which led to decreased role ambiguity. These increased levels of job satisfaction, which reduced turnover intention. Additionally, Grit appears to only moderate the link between role conflict and job satisfaction, which suggests that grit can serve as an additional resource salespeople can tap into in response to the demands of role stressors thereby reducing their likelihood of leaving their positions. In this research, inclusion of market orientation as an antecedent to role stressors in the Job Demands-Resources model expands the conceptualization of the construct as it relates to salespeople in that market orientation is something the firm can control directly. This opens research opportunities to use this model in the sales literature. In addition, the job-demands-resources model expands the role of grit beyond positive psychology to be viewed as a resource in stressful situations and puts the role of grit into a theoretical framework for use in business contexts. As such, the current work suggests that the grit scale can be used to replace measures used for similar constructs such as tenacity. This research suggests that role ambiguity can be reduced by the presence of a market orientation. This reduction in role ambiguity leads to an increase in job satisfaction which leads to reduced turnover intention. Thus, this study indicates that there may be a cost-saving benefit (e.g. recruiting and retention efforts, lost sales, etc.) that accrues to firms with a market orientation due to reduced salesperson turnover via role perceptions. This supports that the idea that organizations can benefit from market orientation not only externally, but also internally in terms of mitigating stressors placed on boundary-spanning employees. Therefore, companies should push for adoption of market orientation in order to alleviate some key role stressors placed on their salespeople in addition to the already established benefits from external customers. The link between grit, job satisfaction, and turnover intentions is another positive finding. As expected, job satisfaction helps reduce turnover intentions; however, the relationship is moderated by grit in such a way that people with higher grit show a weaker link between job satisfaction and turnover intentions while those with lower levels of grit show a stronger link between job satisfaction and turnover intentions. This raises human resource issues in the hiring process: human resource managers should work to identify salespeople with high levels of grit in order to better minimize turnover intentions given the cost of turnover to organizations. This research expands existing research by examining the effects of a firm's market orientation (MO) and selective hiring for specific traits (level of grit) on a salesperson's intention to quit using Job Demand-Resources as a framework Combining these two literature streams – market orientation and salesperson grit – is novel and will inspire new thinking and foster new insights. This study serves as a starting point for future research to examine firm controllable resources (market orientation) along with employee traits that can act as a buffer (grit) when resources are scarce. [ABSTRACT FROM AUTHOR] Copyright of Journal of Business-to-Business Marketing is the property of Taylor & Francis Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- ItemBoundary distributions with respect to Chebyshev's inequality(Science Publications, 2010) Bias, Peter; Hedman, Shawn; Rose, DavidVariables whose distributions achieve the boundary value of Chebyshev’s inequality are characterized and it is found that non-constant variables with this property are symmetric discrete with at most three values. Nevertheless, the bound of Chebyshev’s inequality remains optimal for the class of continuous variables.
- ItemAsset management in public DB and non-DB Pension Plans.(Cambridge University Press, 2016-10) Farrell, James; Shoag, DanielState and local pension plans are increasingly moving from the traditional defined benefit (DB) model to non-DB models that generally allow for participant-directed investment. This shift has important implications for the management of the more than US$3 trillion in assets held to finance public employee retirement benefits. To investigate these implications, we introduce new data from a nationwide survey of public DB and non-DB plans and a unique data set on thousands of individual investors in the state of Florida's defined contribution (DC) plan. Using these sources, we explore how participant involvement in the public sector affects the distribution of asset class allocations, management fees, investment outcomes, and portfolio rebalancing at both the individual and aggregate levels. We found that there is little difference between the DB and non-DB plans in terms of asset mix, returns, and fees, except that DB plan have greater access and allocations to alternative investments. We also found that while the average individual DC plan participant allocated their asset similarly to the DB plan, black females and older white males, on average, invested on opposite tails of the risk spectrum. [ABSTRACT FROM AUTHOR] Copyright of Journal of Pension Economics & Finance is the property of Cambridge University Press and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)