Joanna Tochman Campbell

Socioemotional Wealth as a Mixed Gamble: Revisiting Family Firm R&D Investments with the Behavioral Agency Model

Theoretical explanations for family firm underinvestment in R&D relative to nonfamily firms remain nascent. We revisit this question using a refinement to the behavioral agency model (BAM)—the mixed gamble—that allows us to examine the socioemotional trade–offs that R&D represents for the family firm and how this differentiates their R&D investment decision from nonfamily firms. We do so in an empirical context where R&D investment is of greatest importance—high–technology industries. Moreover, we examine three contingencies that allow us to explore heterogeneity across family firms in their R&D decisions due to their effect upon the familys socioemotional wealth mixed gamble: institutional investor ownership, related diversification, and performance hazard.

The Dark Side of Leadership: Towards a Mid‐Range Theory of Hubris and Greed in Entrepreneurial Contexts

Much of the research on entrepreneurial behaviour and leadership has emphasized their importance and potentially valuable outcomes, along with the challenges involved in each. Although entrepreneurial activities are essential in all types of organizations, this research focuses on the potential dark side of strategic leaders. Specifically, we examine the potential for and the outcomes of the display of greed and hubris in different entrepreneurial contexts. We present a theoretical model of moderated mediation, focused on the effects of greedy and hubristic behaviour by entrepreneurial leaders on the firms human and social capital, and consequently venture success. However, the negative relationship manifests differently in the presence of certain firm-level characteristics. We examine the implications of the dark side of entrepreneurial leadership and recommend several avenues for future research. In so doing, this work contributes to the development of a mid-range theory of the dark side of entrepreneurial leadership.

When More Is Not Enough Executive Greed and Its Influence on Shareholder Wealth

The concept of greed is one of the oldest social constructs; however, greed as a managerial attribute that affects firm outcomes has yet to attract scholarly attention in management. In this study, we examine the relationship of CEO greed to shareholder wealth. After anchoring greed to familiar constructs in organizational literature, we test our hypotheses on a sample of over 300 publicly traded firms from multiple industries. As predicted, greed has a negative relationship with shareholder return, but this relationship is moderated by the presence of a powerful, independent board, managerial discretion, and CEO tenure. The contributions of this study, which include refining our understanding of self-interest and opportunism, developing the greed construct, and illustrating its impact on shareholder wealth, are intended to open a new line of inquiry in the management literature.

Fuzzy Profiles: Comparing and Contrasting Latent Profile Analysis and Fuzzy Set Qualitative Comparative Analysis for Person-Centered Research

Person-centered approaches to organizational scholarship can provide critical insights into how sets of related constructs uniquely combine to predict outcomes. Within micro topics, scholars have begun to embrace the use of latent profile analysis (LPA), identifying constellations of constructs related to organizational commitment, turnover intentions, emotional labor, recovery, and well-being, to name a few. Conversely, macro scholars have utilized fuzzy set qualitative comparative analysis (fsQCA) to examine numerous phenomena, such as acquisitions and business strategies, as configurations of explanatory conditions associated with firm-level outcomes. What remains unclear, however, is the extent to which these two approaches deliver similar versus unique insights when applied to the same topic. In this paper, we offer an overview of the ways these two methods converge and diverge, and provide an empirical demonstration by applying both LPA and fsQCA to examine a multidimensional personality construct—core self-evaluations (CSE)—in relation to job satisfaction. In so doing, we offer guidance for scholars who are either choosing between these two methods, or are seeking to use the two methods in a complementary, theory-building manner.

Changing of the Guard: Shifting the Conversation Surrounding CEO Turnover

The importance of CEO turnover for organizations is well established. Indeed, CEO turnover is inevitable in organizations and can have a significant impact on firm outcomes. Given its importance, r...

Fast and Rigorous: Configurational Determinants of Strategic Decision-Making Balance

Individual strategic decisions are the foundation of a firm’s long-term competitiveness and performance. However, when making such decisions, firms face dual pressures: the desire to ensure a thorough decision-making process, and the concurrent need to ensure that a decision is made in a timely manner. In our study, we examine the configurational underpinnings of strategic decisions that are both fast and rigorous. Using a novel primary dataset, a range of CEO/leader and TMT characteristics taken from the existing literature, and an inductive analytical approach (fuzzy set qualitative comparative analysis), we identify and discuss six leader-team configurations associated with a decision property we label strategic decision-making balance, which characterizes decision processes that simultaneously achieve rigorous intra-team debate, significant divergent idea reconciliation, and fast decision speed.

Compositional Models and Organizational Research Application of a Mixture Model to Nonexperimental Data in the Context of CEO Pay

An emergent stream of research in management employs configurational and holistic approaches to understanding macro and micro phenomena. In this study, we introduce mixture models—a related class of models—to organizational research and show how they can be applied to nonexperimental data. Specifically, we reexamine the long-standing research question concerning the CEO pay–firm performance relationship using a novel empirical approach, treating individual pay elements as components of a mixture, and demonstrate its utility for other research questions involving mixtures or proportions. Through this, we provide a step-by-step guide for other researchers interested in compositional modeling. Our results highlight that a more nuanced approach to understanding the influence of executive compensation on firm performance brings new insights to this research stream, showcasing the potential of compositional models for other literatures.

The Good, the Bad, and the Fuzzy: A Configurational Approach to Acquisitions

Prior research on investor perceptions of merger and acquisition performance has advanced our understanding of the influence of individual acquirer- and transaction-specific factors on abnormal ret...