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This paper explores the extent to which CEO ideological divergence influences firm lobbying strategy. Because a CEO's political ideological disposition is shown to affect firm outcomes, we theorize there are nonmarket strategic implications when the governing party is divergent or convergent from their ideology. Accordingly, we integrate insights from organizational fit literature regarding value congruence and strategic complementarity in order to examine whether CEO political ideological divergence affects lobbying investment and changes the balance between internal and external lobbying activities. Further, we theorize that these outcomes are less pronounced for firms that are highly regulated. Our results support our theorizing, therefore, by identifying how CEO ideology interacts with the opposing political ideology. We unpack the ways in which CEO political ideology influences firm political behavior, thus extending research on CEO political ideology and lobbying. [ABSTRACT FROM AUTHOR]

A study is conducted to examine that unconstrained real options can lead to escalation of commitment and to identify contexts in which escalation of commitment is likely. These situations fall primarily outside the realm of unregulated for-profit organizations and also that the predictions of agency and attribution theories counter the predictions of the escalation of commitment framework.

Longitudinal studies indicate that toehold target economic performance persistently declines on average when interfirm equity investments are held for more than three years, while corporate blockholders economic performance temporarily improves. This study extends extant research by simultaneously examining the economic performance of both types of equity-associated firms using a multivariate approach. The study posits that average economic performance measures may mask performance trends associated with the toehold target's ownership structure and the form of trade relationship between the firms. Support for some contingency hypotheses suggests that economic performance may be influenced by the relationship between the equity associated firms., INTRODUCTION As business enterprise adapts to a global economy, interfirm collaboration has become a common means of sharing risks and exchanging scarce resources in order to gain competitive advantage vis [...]

Previous research has developed two different hypotheses regarding risk-taking within the savings and loan (S&L) industry. The ownership structure hypothesis asserts that stock associations operate with more risk than mutual associations while the deregulation hypothesis stresses that S&Ls operate under more risk in a deregulated market. The validity of both hypotheses was supported by a study of data from individual S&Ls during the 1976-86 period. The results suggest that the S&L crisis of 1987 may only have been a unique confluence of structural and regulatory events.

The impact of first generation antitakeover laws on the relative frequency of takeovers was examined based on the gains to a sample of target firms which have received tender offers. Results revealed that antitakeover statutes have successfully delayed takovers, but these delays yielded no substantial increases in gains received by target shareholders. In addition, antitakeover laws failed to reduce the frequency of takeovers or truncate the distribution of returns to target shareholders.

Many believe that antitrust policy has had a dramatic impact on merger strategies in the United States. For this to be true, enforcement of antitrust laws must affect a wide range of firms, not just those firms whose mergers are contested. This study tests whether or not firms engaged in uncontested mergers are affected by antitrust enforcement, as signalled by Supreme Court decisions. Using event study methodology, we find that antitrust policy against mergers was binding during the 1960s and 1970s as it lowered the value of targets in uncontested ongoing mergers., I. INTRODUCTION Since its inception in 1890, antitrust has been one of the most controversial areas of law. Some view antitrust enforcement as efficiency enhancing, leading to a greater degree [...]

Further Evidence on Economies of Scale and Scope in Commercial Banking Asghar Zardkoohi* Texas A&M University Abstract The present study uses FCA data and the translog cost model to estimate [...]

The article examines a set of highly-ranked academic business journals covering accounting, finance, management, and marketing and how those are distributed among universities. This empirical research utilizes Herfindahl-Hirschman indices (HHI) to measure article concentration among universities. Data is collected on the number of journal articles published by individual faculty members in each academic discipline. The article also examines whether differences in publication practices result in economic consequences.