Diffusion patterns in small vs. large capital markets-the case of value-based management

Publikation: Beiträge in ZeitschriftenZeitschriftenaufsätzeForschungbegutachtet

Authors

We empirically study the diffusion of value-based management (VBM) in small capital markets. Specifically, we analyse the factors that influence VBM adoption in Danish-listed firms. Based on a hand-collected data set covering 665 firm years from 2002 to 2010, we find that the same factors influence the diffusion of VBM in both large and small capital markets. Specifically, we find that large firms with a higher percentage of institutional ownership and with a CEO whose education is business-related are more likely to adopt VBM. Additionally, the control variables reveal a significant positive correlation between VBM adoption and leverage, capital intensity, liquidity, and the characteristics of top executives. Furthermore, we find that manufacturing and utility firms are more likely to adopt VBM than service or trade firms. Contrary to the mainstream opinion, we contribute to the literature that findings from large capital …
OriginalspracheEnglisch
ZeitschriftManagement Revue
Jahrgang34
Ausgabenummer1
Seiten (von - bis)1-29
Anzahl der Seiten29
ISSN0935-9915
DOIs
PublikationsstatusErschienen - 01.01.2023

Bibliographische Notiz

Publisher Copyright:
© (2023), (Nomos Verlagsgesellschaft mbH und Co KG). All Rights Reserved.

DOI

Zuletzt angesehen

Publikationen

  1. Reciprocal Relationships Between Dispositional Optimism and Work Experiences
  2. Influence of Mg content in Al alloys on processing characteristics and dynamically recrystallized microstructure of friction surfacing deposits
  3. The structure of emotions in learning situations
  4. Toward a methodical framework for comprehensively assessing forest multifunctionality
  5. Tree diversity increases robustness of multi-trophic interactions
  6. Trap nests for bees and wasps to analyse trophic interactions in changing environments—A systematic overview and user guide
  7. Semiparametric one-step estimation of a sample selection model with endogenous covariates
  8. Modeling of temperature- and strain-driven intermetallic compound evolution in an Al-Mg system via a multiphase-field approach with application to refill friction stir spot welding
  9. Artificial Intelligence in Foreign Language Learning and Teaching
  10. General management principles and a checklist of strategies to guide forest biodiversity conservation
  11. Scattered trees are keystone structures - Implications for conservation
  12. Creating Value from in-Vehicle Data
  13. Erratum: Formalised and non-formalised methods in resource management-knowledge and social learning in participatory processes
  14. Understanding Records. A Field Guide to Recording Practice
  15. Dealing with inclusion–teachers’ assessment of internal and external resources
  16. A matter of connection
  17. Additive Manufacturing of Soft Robots
  18. BERTologyNavigator: Advanced Question Answering with BERT-based Semantics
  19. Entry, exit and productivity
  20. Public Value: rethinking value creation
  21. The persistence of subsistence and the limits to development studies
  22. An Unusual Encounter with Oneself
  23. The erosion of relational values resulting from landscape simplification
  24. Case study: The development of a multi-material heat sink by Additive Manufacturing using Aerosint technology
  25. Controlling a Bank Model Economy by Using an Adaptive Model Predictive Control with Help of an Extended Kalman Filter
  26. Employing A-B tests for optimizing prices levels in e-commerce applications
  27. The Open Anchoring Quest Dataset: Anchored Estimates from 96 Studies on Anchoring Effects
  28. Where do the data live?
  29. Instruments for research on transition. Applied methods and approaches for exploring the transition of young care leavers to adulthood
  30. Proxy Indicators for the Quality of Open-domain Dialogues
  31. Failing and the perception of failure in student-driven transdisciplinary projects
  32. Fallstudie
  33. Repräsentation oder Gebrauchsort?
  34. Analysing Positional Data