Ilya Cuypers

Sincerity in Corporate Philanthropy, Stakeholder Perceptions and Firm Value

This study extends the literature on symbolic management by incorporating the role of stakeholder perceptions into the context of corporate philanthropy. In particular, we differentiate between the quantitative (generous giving) and qualitative (innovative giving) aspects of giving. We argue that although stakeholders may perceive both types of giving as being substantive rather than symbolic, innovative giving is likely to be perceived as more substantive than generous giving is and, thus, has a greater impact on firm value. Furthermore, stakeholder perceptions of corporate philanthropy as being more symbolic or substantive are influenced by firm characteristics—the type of products or services that a firm provides and the life-cycle stage that the firm is in—which provide stakeholders with a context to better assess the nature of a firm’s philanthropic actions and the substantiveness of its giving. We find support for our predictions using a sample covering U.S. firms’ philanthropic activities over a 19-year period.

What makes and what does not make a real option? A study of international joint ventures

Recently, questions have emerged about the boundaries of real options logic when the firm that made an option-like investment can subsequently affect the parameters of the decision. This paper exam...

Linguistic Distance and Bridge Language Effects on Equity Ownership in Cross-Border Acquisitions

We study the effects of language distance and bridge language proficiency on the level of equity taken by acquirers from 67 countries in 59,092 acquisition targets in 69 host countries. We theorize and find that both language distance and bridge language proficiency affect the level of equity an acquirer takes in a target. In addition to its direct effect, language distance also moderates the effect of bridge language on the level of equity taken. Our results clearly demonstrate that governance research and international business studies can benefit from incorporating language into their explanatory models.

Distance and Distinctiveness: Choice of Governance Mode in International Collaboration

Although the home countries of firms engaging in international collaboration can differ in many dimensions, studies have tended to concentrate on one of these, i.e., cultural distance. In those cas...