corporate support for entrepreneurship is the most important element for the development of corporate entrepreneurship and is considered as one of the main corporate entrepreneurial antecedents. it involves trust in corporate staff and training them for promoting recognition of opportunities, exploring new and valuable resources, innovative productions and profit-making processes. corporate sup...

For decades financial economists have been attempted to determine the optimal investment policy by recognizing the option value embedded in irreversible investment whose project value evolves as a geometric Brownian motion (GBM). This paper aims to examine the effects of the optimal investment trigger and of the misspecification of stochastic processes on investment in real options applications...

In this paper, we examine whether a failure-tolerant corporate culture spurs corporate innovation and increases firm value based on a sample of venture capital (VC) backed IPO firms. We develop a novel firm-specific measure of a failure-tolerant corporate culture hinging on the idea that the formation of corporate culture is largely determined by the attitudes and beliefs of its founders and ea...

 In this paper, we dismiss the traditional contingency argument that corporate staff should have minimal involvement with the decisions that its divisions make, because predictability, which underlies this contingency logic, is erroneous for most large corporations at this time. We offer an alternative theory of corporate involvement for the M-form: under unpredictable environments grea...

We study shock-based methods for credible causal inference in corporate finance research. We focus on corporate governance research, survey 13,461 papers published between 2001 and 2011 in 22 major accounting, economics, finance, law, and management journals; and identify 863 empirical studies in which corporate governance is associated with firm value or other characteristics. We classify the ...

todays, the parent company has a great role in managing and monitoring subsidiaries and companies in promoting their industrial activities. but, the main problem for pharmaceutical parent companies is the lack of clarity and confusion of responsibilities between units. successful parenting needs to create the element of 'fit' between the ways parent operates – parent characteristics –...

An impressive volume of careful empirical studies finds evidence that the strength of firms’ corporate governance tends to be positively correlated with their financial performance; that is, firms that score higher on some measure of governance tend to outperform those which score worse. These findings are a puzzle insofar as we expect those who decide how a firm is organized, including its cor...

This paper examines the quality of credit ratings issued by the three major credit rating agencies Moody’s, Standard and Poor’s and Fitch. If credit ratings are informative, then prices of underlying credit instruments such as fixed-income securities and credit default insurance should change to reflect the new credit risk information. Using data on 246 different major fixed-income securities i...