Institutional ownership and technological relatedness: A test of endogeneity

Shin, Jongtae; Shin, Hyun S.

doi:10.1016/j.jbusres.2012.02.041

Cited by 6 publications

(5 citation statements)

References 57 publications

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“…Research has, however, focused primarily on financial and innovation performance. A more limited set of studies has considered outcomes such as growth and survival, as well as the impact of technological diversification on strategy (Krammer 2016), structure (Lai et al 2010b) and ownership (Lai et al 2010b;Shin and Shin 2013).…”

Section: Discussionmentioning

confidence: 99%

“…Research has not found an effect of ownership on technological diversification. But it has had a very narrow focus on US pension funds and other institutional investors (Lee and Kang ; Shin and Shin ). The wider literature on the impact of ownership has established how the motivations, capabilities and risk profiles of different types of owners, such as families and states, shape diversification patterns more generally (Hautz et al .…”

Section: Discussion and Future Researchmentioning

confidence: 99%

“…Subsequent work found that centralized R&D structures contribute to broader technological search (Argyres and Silverman ), suggesting possible long‐term effects of organizational structures on technological diversification. A study by Shin and Shin () found that neither ownership by pension funds nor other institutional investors had an impact on corporate technological relatedness, measured by the technological relatedness between the firm's business units. The same study found that corporate technological relatedness affected the extent to which institutional investors took up ownership stakes in the firm, suggesting that ownership effects may be expressed at the investment selection stage rather than through voice.…”

Section: Empirical Research On Technological Diversificationmentioning

confidence: 99%

“…Finally, one study explored the impact of technological diversification on ownership. Shin and Shin () found that related technological diversification attracts more institutional investors, as they are better able to identify potential long‐term earnings associated with related technology profiles.…”

Section: Empirical Research On Technological Diversificationmentioning

confidence: 99%

See 3 more Smart Citations

Technological Diversification: A Systematic Review of Antecedents, Outcomes and Moderating Effects

Ceipek

Hautz

Mayer

et al. 2019

Int J Management Reviews

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Technological diversification has been linked to a wide range of phenomena, including financial performance, innovation, product diversification and inter‐organizational relationships. This is the first systematic review of this literature and provides an overview of its historical development and conceptual foundations. It finds that the role of contingency factors impacting the positive relationship between technological diversification and financial performance needs further exploration. Also, it finds that the research on the links between technological diversification and inter‐organizational relationships requires consolidation. This paper suggests three avenues for further research. First, it sets out an agenda for identifying the antecedents of technological diversification. Second, it identifies contextual factors that could shape the relationship between technological diversification and performance. Third, it argues that technological diversification research must engage with contemporary technological and organizational developments such as digital organizations, open boundaries and networks.

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Section: Discussionmentioning

confidence: 99%

Section: Discussion and Future Researchmentioning

confidence: 99%

Section: Empirical Research On Technological Diversificationmentioning

confidence: 99%

Section: Empirical Research On Technological Diversificationmentioning

confidence: 99%

See 2 more Smart Citations

Technological Diversification: A Systematic Review of Antecedents, Outcomes and Moderating Effects

Ceipek

Hautz

Mayer

et al. 2019

Int J Management Reviews

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“…(Victoravich, Xu, and Gan, 2013). In addition, institutional investors can influence top managers' decisions on critical issues (e.g., corporate restructuring) through their voting power and enhanced information processing capabilities (Shin and Shin, 2013). All these arguments suggest that institutional investors can serve as valuable "strategic-balancing mechanisms" while effectively managing organizations.…”

Section: Managerial Ownershipmentioning

confidence: 99%

Utjecaj upravljačkog i institucionalnog vlasništva na tržišnu vrijednost korporativnih spin-off poduzeća

Ozbek

2023

Management (Split, Online)

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Corporate spinoffs are tax-free transactions between the parent firm (a.k.a. divesting firm) and its newly created, independent spun-off subsidiary (a.k.a. child firm) to increase value for both sides’ shareholders. As critical governance mechanisms, in this study we examine the effects of institutional and managerial ownerships on the market value of spun-off subsidiaries based on the corporate governance literature and behavioral agency perspective. In our sample, we have 144 completed U.S. spinoffs within a 14-year of time span, which are drawn from the SDC Platinum. According to our empirical analysis, we have found that both ownership structures have significant negative effects on the change in market value of the child firm. In addition, we have examined the interaction effect of both ownerships, which results in another significant effect in the opposite direction. Thus, this study reveals the critical importance of institutional and managerial ownerships for the market success of spun-off subsidiaries.

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A resource-based analysis of realized knowledge relatedness in diversified firms

Villasalero

2017

Journal of Business Research

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Institutional ownership and technological relatedness: A test of endogeneity

Cited by 6 publications

References 57 publications

Technological Diversification: A Systematic Review of Antecedents, Outcomes and Moderating Effects

Technological Diversification: A Systematic Review of Antecedents, Outcomes and Moderating Effects

Utjecaj upravljačkog i institucionalnog vlasništva na tržišnu vrijednost korporativnih spin-off poduzeća

A resource-based analysis of realized knowledge relatedness in diversified firms

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