Thesis--Madrid. / "Bibliografia": p. [109-110].

Thesis--PlanB (M.S.)--University of Wisconsin--Stout, 2000. / Includes bibliographical references.

Thesis--PlanB (M.S.)--University of Wisconsin--Stout, 2001. / Includes bibliographical references.

Thesis (Ph.D.)--Hong Kong University of Science and Technology, 2003. / Includes bibliographical references. Also available in electronic version. Access restricted to campus users.

The importance of corporate social responsibility (hereinafter referred to as CSR) is on the rise, and more and more companies are engaging in activities such as cause-related marketing, employee volunteering and/or corporate philanthropy, commonly referred to CSR programmes. More than 80 % of Fortune 500 companies deal with CSR issues in the United States. In Europe the number of companies doing this is also growing, led by companies such as The Body Shop and SAP. What are the reasons for this trend? On the one hand, consumers are becoming increasingly aware of bad business practices in times of increasing media coverage and advanced information technology. Twitter storms and Facebook campaigns have enabled consumers to exert their powers of protest and boycotting, resulting in negative economic consequences for the companies. For instance the Coca-Cola #notinmyfridge twitter campaign is said to have had an impact on the company’s global sales due to the negative publicity. On the other hand, there is evidence that CSR is not only “the moral thing to do”, but also has a positive impact on the company’s relationships with its stakeholders, such as employees, customers and consumers. CSR is reported to have a positive impact on both consumer product responses as well as its attitude towards the company, including consumers’ identification with the company. <img src="file:///page4image15696" />Still, there are still many knowledge gaps with regards to how these CSR programmes are being developed and implemented today. In addition to this, there is limited research on how the programmes are being perceived by stakeholders such as customers, consumers, employees and leaders, or indeed what the main driving forces are behind setting up such programmes. Is it a desire to be a great company or just a precaution to avoid “twitter"-storms?

published_or_final_version / Economics and Finance / Doctoral / Doctor of Philosophy

published_or_final_version / Business / Doctoral / Doctor of Philosophy

published_or_final_version / Law / Doctoral / Doctor of Philosophy

Interfirm governance has been the subject of buyer-supplier relationships studies for decades. Given the substantial hazards and uncertainties involved in interfirm exchanges, governance devices becomes critical in ensuring satisfactory performance outcomes. Despite the great insights provided by extant governance literature, the complexity of governance mechanisms has not been fully addressed. The goal of this dissertation is to better understand the role of contractual and relational governance in influencing interfirm co-exploration, protecting transaction-specific investments, and fostering interfirm exchanges in the challenging context of China. The first study looks at how contracts function in emerging economies in which legal institutions are underdeveloped but guanxi norms are pervasive. Drawing on transaction cost economics and institutional theory, this study disentangles two facets of contractual governance: (1) task specificity, which primarily safeguards transactions, and (2) contingency specificity, which mainly coordinates adaptations. This study examines their direct effects on exchange performance and their contingent effects, given different levels of legal inadequacy and guanxi importance. A survey of 307 manufacturer–supplier dyads in China reveals that, compared with contingency specificity, task specificity is associated with better exchange performance. However, the role of task specificity declines when the legal system is inadequate and guanxi is important. In contrast, contingency specificity is more helpful when guanxi importance is high. The second study explores how relational ties affect exchange partners’ co-exploration of novel products and processes. A tension between the strength and brokerage dimension of relational ties becomes evident during buyer-supplier co-exploration. Tie strength facilitates coordinating but creates the novelty problem; tie brokerage expands the knowledge diversity but aggravates the coordination difficulty. Drawing on the relational exchange theory, this study compares and examines the contingent value of tie strength and tie brokerage under different levels of environmental factors and exchange characteristics. The findings from a survey of 396 manufacturer–supplier dyads in China show that guanxi importance increases the effects of strength while decreases the value of brokerage. As market uncertainty increases, the role of brokerage becomes more salient. Brokerage also exerts a stronger impact on co-exploration when exchange is highly formalized, whereas tie strength has a weaker impact when exchange centralization is high. / published_or_final_version / Business / Doctoral / Doctor of Philosophy

This dissertation reconciles ostensibly conflicting evidence from prior research about the association between information uncertainty and post-earnings-announcement drift (PEAD). According to traditional PEAD studies there should be a positive association between PEAD and uncertainty about the implication of an earnings announcement for future earnings, referred to in this dissertation as "information uncertainty." Empirical studies have documented both positive and negative associations, however. In particular, studies that use analyst forecast dispersion as a proxy for information uncertainty report a negative association between information uncertainty and PEAD. Although the authors of those studies argue that their results are consistent with behavioral finance theories, a negative association between information uncertainty and PEAD is troubling because it is not consistent with the notion that more reliable information improves market efficiency. In fact, previous empirical studies that use proxies for information uncertainty other than analyst forecast dispersion find a positive association between information uncertainty and PEAD. This study argues that the negative association between analyst forecast dispersion and PEAD can be explained by "herding" behavior immediately after earnings announcements. I introduce an analyst-based proxy for information uncertainty that mitigates the effects of herding on forecast dispersion. I find that, after controlling for the effect of herding, there is a positive association between information uncertainty and PEAD even when analyst forecasts are used to measure information uncertainty.