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

Publikation: Beiträge in ZeitschriftenZeitschriftenaufsätzeForschungbegutachtet

Standard

Diffusion patterns in small vs. large capital markets-the case of value-based management. / Lueg, Rainer; Paraschiv, Raluca Elena .
in: Management Revue, Jahrgang 34, Nr. 1, 01.01.2023, S. 1-29.

Publikation: Beiträge in ZeitschriftenZeitschriftenaufsätzeForschungbegutachtet

Harvard

APA

Vancouver

Lueg R, Paraschiv RE. Diffusion patterns in small vs. large capital markets-the case of value-based management. Management Revue. 2023 Jan 1;34(1):1-29. doi: 10.5771/0935-9915-2023-1-1

Bibtex

@article{bf18e40f303b4bcf9e22cacf0fdc05dd,
title = "Diffusion patterns in small vs. large capital markets-the case of value-based management",
abstract = "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 markets appear to be transferable to firms in small capital markets.",
keywords = "Management studies, capital markets, Denmark, diffusion theory, ownership, risk, shareholder value, upper echelons, value-based management",
author = "Rainer Lueg and Paraschiv, {Raluca Elena}",
note = "Publisher Copyright: {\textcopyright} (2023), (Nomos Verlagsgesellschaft mbH und Co KG). All Rights Reserved.",
year = "2023",
month = jan,
day = "1",
doi = "10.5771/0935-9915-2023-1-1",
language = "English",
volume = "34",
pages = "1--29",
journal = "Management Revue",
issn = "0935-9915",
publisher = "Nomos Verlagsgesellschaft",
number = "1",

}

RIS

TY - JOUR

T1 - Diffusion patterns in small vs. large capital markets-the case of value-based management

AU - Lueg, Rainer

AU - Paraschiv, Raluca Elena

N1 - Publisher Copyright: © (2023), (Nomos Verlagsgesellschaft mbH und Co KG). All Rights Reserved.

PY - 2023/1/1

Y1 - 2023/1/1

N2 - 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 markets appear to be transferable to firms in small capital markets.

AB - 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 markets appear to be transferable to firms in small capital markets.

KW - Management studies

KW - capital markets

KW - Denmark

KW - diffusion theory

KW - ownership

KW - risk

KW - shareholder value

KW - upper echelons

KW - value-based management

UR - https://www.mendeley.com/catalogue/3604bcc3-04a6-3e1b-b21f-5fa468437640/

UR - http://www.scopus.com/inward/record.url?scp=85195653585&partnerID=8YFLogxK

U2 - 10.5771/0935-9915-2023-1-1

DO - 10.5771/0935-9915-2023-1-1

M3 - Journal articles

VL - 34

SP - 1

EP - 29

JO - Management Revue

JF - Management Revue

SN - 0935-9915

IS - 1

ER -

DOI

Zuletzt angesehen

Publikationen

  1. Global fern and lycophyte richness explained: How regional and local factors shape plot richness
  2. Recontextualizing Anthropomorphic Metaphors in Organization Studies
  3. Chronic effects of a static stretching intervention program on range of motion and tissue hardness in older adults
  4. Contextualizing certification and auditing
  5. Extending Enterprise Architectures for Adopting the Internet of Things
  6. Gaining deep leverage? Reflecting and shaping real-world lab impacts through leverage points
  7. Logistical Potentials of Load Balancing via the Build-up and Reduction of Stock
  8. Detection of significant tracer gases by means of polymer gas sensors
  9. Tuning kalman filter in linear systems
  10. Priority effects of time of arrival of plant functional groups override sowing interval or density effects
  11. How to support students-learning in mathematical bridging-courses using ITS? Remedial Scenarios in the EU-Project Math-Bridge
  12. Insights into adoption of farming practices through multiple lenses
  13. Improve a 3D distance measurement accuracy in stereo vision systems using optimization methods’ approach
  14. Artistic dynamics across the Seas
  15. The effect of psychotherapy for depression on improvements in social functioning
  16. Visual-Inertial Navigation Systems and Technologies
  17. A Robust Approximated Derivative Action of a PID Regulator to be Applied in a Permanent Magnet Synchronous Motor Control
  18. Multifractality Versus (Mono-) Fractality as Evidence of Nonlinear Interactions Across Timescales
  19. TextCSN
  20. Incorporating Type Information into Zero-Shot Relation Extraction
  21. Canopy structure influences arthropod communities within and beyond tree identity effects
  22. Passive Rotation Compensation in Parallel Kinematics Using Quaternions
  23. An Exploration of humans‘ ability to recognize emotions displayed by robots
  24. Evaluating the effectiveness of retention forestry to enhance biodiversity in production forests of Central Europe using an interdisciplinary, multi-scale approach