Problemistic search theory, with its roots in the Carnegie School tradition, describes a
behaviorally plausible process by which firms learn from performance feedback. A firm's …

As employee downsizing has become increasingly ubiquitous in recent years, the study of
this phenomenon has assumed greater significance. This article develops an integrative …

ABSTRACT I exploit the adoption of state‐level labor protection laws as an exogenous
increase in employee firing costs to examine how the costs associated with discharging …

This paper examines the impact venture capital can have on the development of new firms.
Using a hand‐collected data set on Silicon Valley start‐ups, we find that venture capital is …

This study examines the relations between earnings informativeness, measured by the
earnings–return relation, and the ownership structure of 977 companies in seven East Asian …

We examine the misallocation of credit in Japan associated with the perverse incentives
faced by banks to provide additional credit to the weakest firms. Firms are more likely to …

We develop a contingency approach to explain how firm ownership influences the
monitoring function of the board—measured as the magnitude of external audit fees …

Previous research indicates that operating performance improves following corporate
acquisitions relative to industry-median firms. Such performance results are likely to be …

This study examines the role of downsizing in the deinstitutionalization of permanent
employment among publicly listed companies in Japan between 1990 and 1997. We found …

Extant research on corporate turnaround from financial distress has prescribed a range of
strategies to effect corporate recovery. However, no large sample study has examined the …