Klink Strategic Change

Effects on Accounting Performance and Implications of Board Succession and Compensation
1. Auflage 2016
ISBN: 978-3-8452-7539-0
Verlag: Nomos
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, Band 13, 161 Seiten, Format (B × H): 153 mm x 227 mm

Reihe: Controlling und Management

Based on a sample of German and U.S.-American companies, the findings presented in this publication suggest that strategic change negatively affects financial performance in the short- to medium-run. However, managers may improve performance outcomes through prioritisation of attractive business units. When choosing attractive segments, managers can both pick attractive segments based on growth or profitability to reach desired outcomes. Further, results indicate how supervisory boards may use personnel changes as well as executive compensation to initiate strategic change.

Autoren/Hrsg.

Klink, Christoph

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Unternehmenskultur, Corporate Governance
• Wirtschaftswissenschaften Betriebswirtschaft Management Strategisches Management

Inhaltsverzeichnis

1;Cover;1
2; 1 Introduction;18
2.1; 1.1 Motivation;18
2.2; 1.2 Literature Review;21
2.3; 1.3 Identification of Research Gaps and Derivation of Research Questions;24
2.4; 1.4 Research Framework;28
2.5; 1.5 Data Samples;31
2.6; 1.6 Structure of this Dissertation;32
3; 2 Essay 1: Strategic Change, Resource Allocation Decisions, and Their Influence on Short- to Medium-Run Financial Performance;34
3.1; Abstract;34
3.1.1; 2.1 Introduction;35
3.1.2; 2.2 Theory Development;40
3.1.3; 2.3 Methodology;56
3.1.3.1; 2.3.1 Data Sample;56
3.1.3.2; 2.3.2 Analytical Approach;58
3.1.3.3; 2.3.3 Measures;59
3.1.3.3.1; Dependent Variable;59
3.1.3.3.2; Independent Variables;60
3.1.3.3.3; Moderator Variables;63
3.1.3.3.4; Control Variables;64
3.1.4; 2.4 Empirical Results;65
3.1.5; 2.5 Additional Robustness Tests;70
3.1.5.1; Main effects;70
3.1.5.2; Moderator effects;75
3.1.6; 2.6 Discussion;79
3.1.7; 2.7 Limitations and Future Research;81
3.1.8; 2.8 References;83
4; 3 Essay 2: CEO ond CFO Successions as Determinants of Strategic Renewal;90
4.1; Abstract;90
4.1.1; 3.1 Introduction;91
4.1.2; 3.2 Theory Development;94
4.1.3; 3.3 Methodology;98
4.1.3.1; 3.3.1 Data Sample;98
4.1.3.2; 3.3.2 Analytical Approach;98
4.1.3.3; 3.3.3 Measures;99
4.1.3.3.1; Dependent Variable;99
4.1.3.3.2; Independent Variables;101
4.1.3.3.3; Control Variables;101
4.1.4; 3.4 Empirical Results;102
4.1.5; 3.5 Additional Robustness Tests;104
4.1.6; 3.6 Discussion;106
4.1.7; 3.7 Limitations and Future Research;107
4.1.8; 3.8 References;109
5; 4 Essay 3: CEO Compensation and Strategic Change;114
5.1; Abstract;114
5.1.1; 4.1 Introduction;115
5.1.2; 4.2 Theory Development;119
5.1.2.1; Performance-sensitive compensation components;122
5.1.2.2; Performance-in-sensitive compensation components;125
5.1.3; 4.3 Methodology;126
5.1.3.1; 4.3.1 Data Sample;126
5.1.3.2; 4.3.2 Analytical Approach;127
5.1.3.3; 4.3.3 Measures;128
5.1.3.3.1; Dependent Variable;128
5.1.3.3.2; Independent Variables;129
5.1.3.3.3; Control Variables;130
5.1.4; 4.4 Empirical Results;131
5.1.5; 4.5 Additional Robustness Tests;136
5.1.6; 4.6 Discussion;140
5.1.7; 4.7 Limitations and Future Research;142
5.1.8; 4.8 References;143
6; 5 Summary and Conclusion;150
6.1; 5.1 Summary of Results;150
6.2; 5.2 Contributions;153
6.3; 5.3 Limitations and Future Research;156
7; References (Introduction & Conclusion);158