2018
DOI: 10.1016/j.jcorpfin.2017.12.003
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Organization capital and firm life cycle

Abstract: We hypothesize, and examine empirically, two types of association between organization capital and firm life cycle. Are firms with high organization capital more likely to be in a particular stage of their life cycle than firms with low organization capital? Are firms' transitions from one life cycle stage to another over time associated with how much they invest in organization capital? Our findings suggest that firms with high (low) organization capital are more likely to be in the introduction and decline (… Show more

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Cited by 132 publications
(121 citation statements)
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“…Compared with discrete capabilities, integrated capabilities are fewer in number, and are more dexterous and valuable owing to the synergy of combining various discrete capabilities. While capabilities depend on the integration and application of the firm's human, cultural, and tangible resources (Hasan, 2018), it is through the application of capabilities that the firm also creates and augments its resource base (Kwak et al, 2018). In summary, there are the current and potential applications of resources.…”
Section: Firm Capabilitiesmentioning
confidence: 99%
“…Compared with discrete capabilities, integrated capabilities are fewer in number, and are more dexterous and valuable owing to the synergy of combining various discrete capabilities. While capabilities depend on the integration and application of the firm's human, cultural, and tangible resources (Hasan, 2018), it is through the application of capabilities that the firm also creates and augments its resource base (Kwak et al, 2018). In summary, there are the current and potential applications of resources.…”
Section: Firm Capabilitiesmentioning
confidence: 99%
“…Distance between the SMEs and Z + and Z − . To calculate the distance of each alternative from the positive and negative ideal solution and the closeness coefficient of the alternative SMEi by Equations (15)- (17), and the result is shown in Table 11.…”
Section: X11 X12 X13 X14 X15mentioning
confidence: 99%
“…For the SME financing difficulties, many scholars have been researching this subject from several perspectives. Some scholars analyzed the main reasons for financing difficulties based on internal SME factors such as cash holdings [13], enterprise scale [14,15], and business growth cycle [16][17][18], and others analyzing the external factors that restrict SME financing such as a lack of financing policies and SME focused financial systems [19], the lack of financial institutions for SME services [20], the lack of sound capital market systems [21], and the lack of mature credit guarantee mechanisms [22]. Due to the long-term SME financing difficulties, the growing popularity of industrial SME clusters and supply chain financing models have significant development potential and market prospects.…”
Section: Introductionmentioning
confidence: 99%
“…Because better corporate governance creates conditions for companies to commit to riskier capital structure decisions. Hasan and Cheungli (2018) [20] and other scholars have also done research on enterprise life cycle and capital structure.…”
Section: Literature Reviewmentioning
confidence: 99%