Reverse Knowledge Transfer from Subsidiaries to Multinational Companies: Examples From South Korea

Author(s):

Chris Rowley

 et al.

The debate around primary determinants influencing Reverse Knowledge Transfer has yet to attain academic consensus. This paper draws an overall picture of Reverse Knowledge Transfer from subsidiaries to parent firms, particularly in the context of an energetic emerging market, by incorporating all the different facets of the phenomenon. The research is based on a sample of subsidiary companies located in South Korea.

Updated: 13/03/2013
Comments:
Views: 3,532

Supply Chain Agility: Solving the Agility Puzzle

Having redefined strategic sourcing and discussed what operational flexibility and supply chain agility entail, Dr. Canan Kocabasoglu-Hillmer now considers how companies can utilise strategic sourcing to increase the agility of their supply chain. This is the fourth and latest entry in our series on supply chain agility.

Updated: 05/04/2013
Comments:
Views: 3,024

Venture Capital meets Contract Theory: Risky Claims or Formal Control?

This paper develops a financial contracting model to investigate the allocation of control and cash flow rights attained through contractual covenants in Venture Capital deals. It argues that an innovative startup should seek to limit the VC's control rights when arranging a riskier claim, so as not to stifle entrepreneurial initiative. This research challenges the standard assumption that greater control rights should be assigned to such a venture.

Updated: 06/03/2013
Comments:
Views: 3,015

Corporate Social Responsibility and New Job Seekers in the Greater China Region: Factors in Application Decisions

Author(s):

Chris Rowley

 et al.

Despite the post-2008 financial crisis economic fallout, demand for skilled employees outstrips supply in various locations. What might assist organisations in tight labour markets better understand how prospective employees choose the jobs they apply for? Signaling theory explains how job seekers are attracted based on the information and signals they receive (directly and indirectly) about organisations. There is evidence that Corporate Social Responsibility is one of the signals that can motivate and retain workforces. Our study examines the extent to which job choices are influenced by CSR issues (a company's legal, ethical, philanthropic responsibilities) as compared to traditional job characteristics (salary, prospects, location, company type). Our focus is on the Greater China Region.

Updated: 22/02/2013
Comments:
Views: 3,303

Learning From Your Investors: Shareholder support in M&A transactions

Author(s):

Maria Carapeto

 et al.
Industry:
Any Industry

With companies increasingly looking at targets abroad, the need to acquire specialised knowledge about the target, the target country's environment and the potential merits that may result from a given M&A deal is becoming ever more important. This research looks at the assistance long-term institutional shareholders could offer corporates in achieving their aims.

Updated: 08/02/2013
Comments:
Views: 1,583

The Cass MARC M&A Maturity Index 2012

Author(s):

Scott Moeller

 et al.
Topic:
Finance
Industry:
Any Industry

In collaboration with its research partners, Credit Suisse and Ernst & Young, the M&A Research Centre (MARC) at Cass Business School provides its second annual report (July 2012) on the maturity for M&A purposes of countries worldwide. The Cass MARC Maturity Index illustrates each country's ability to attract and sustain M&A activity, as well as identifying areas where improvement is needed. The index rates 148 countries according to their regulatory and political, economic and financial, technological and socio-economic environments, as well as their level of assets and infrastructure. It looks at the attractiveness of each country for domestic and inward deals and does not address external acquisitions for companies based in that country.

Updated: 06/02/2013
Comments:
Views: 1,582

The Economic Impact of M&A: Implications for UK firms

Author(s):

Scott Moeller

 et al.
Industry:
Any Industry

M&A deals are complex and challenging transactions that arguably represent the most significant investment a company can undertake, and give researchers an opportunity to analyse the value implications of these executive decisions. Whether mergers and acquisitions ultimately create or destroy corporate value and the identification of the factors that determine M&A success or failure are issues of crucial importance for both the management and shareholders of companies, and also for policy makers. The results presented in this paper provide some important conclusions regarding the impact of mergers and acquisitions in the UK, which should be taken into consideration by policymakers reviewing this area of the corporate environment.

Updated: 06/02/2013
Comments:
Views: 1,709

How They Spend It: A study of corporate cash levels and spending behaviour

Author(s):

Scott Moeller

 et al.
Industry:
Any Industry

This research examines Corporate Cash Holdings, Corporates' Spending Patterns and Optimal Spending Strategies, using all non-financial and non-utility companies listed on the London Stock Exchange at any point in time between 1996 and 2010 as a study sample.

Updated: 31/01/2013
Comments:
Views: 1,618

The First 1,000 Days in the Life of an IPO

Author(s):

Scott Moeller

 et al.
Industry:
Any Industry

Firms which list their shares on the pubic market should do so with the intent of using their new status for further growth. Whether they do so, and how their activities affect performance, are the bases of this study. In collaboration with its research partners, Credit Suisse and Ernst & Young, the M&A Research Centre (MARC) at Cass Business School performed a study of UK IPOs between 1995 and 2008. The study followed 1,559 companies for the 1,000 days after their first day of trading. The sample includes IPOs which listed their shares on either the UK Main exchange (Main) or on the Alternative Investment Market (AIM).

Updated: 29/01/2013
Comments:
Views: 1,562