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Earnings management decisions and ineffective monitoring activities have contributed to financial accounting scandals and reduced confidence in firms’ reporting quality among potential investors, lenders and other creditors. The implementation of an effective top management team (TMT) is considered essential in this context. It is well known that top managers have considerable discretion over firms’ financial reporting since they choose whether and how to manage earnings. However, research has yet to establish the relationship between top managers’ diversity attributes and firms’ earnings management levels. Therefore, this study analyses whether and how top managers’ nationality, gender and age diversity are associated with accounting quality. Based on a sample of German DAX 30 listed firms from 2011 to 2018, we found that diversity in TMT nationality and gender have a positive impact on accounting quality. This relationship is context-dependent and negatively moderated by the tenure of the chief financial officer. Our findings provide novel insights on accounting quality for practitioners such as investors, regulators and stock corporations. The implications of this study further advance the academic debate on diversity in TMTs and its effects on earnings management.
New Work in der Pflege
(2022)
Beim Deutschen Pflegetag 2022 zeichnete die Präsidentin des Deutschen Pflegerats, Christine Vogler, jüngst mit ihren Worten ein düsteres Bild für die Zukunft der Pflege. Aus ihrer Sicht ließe sich nur durch die Steigerung der Attraktivität des Pflegeberufs dieser düsteren Entwicklung gegensteuern. Jedoch finden die jahrelangen Forderungen nach einer Erhöhung der Attraktivität dieses Berufsbildes keine Beachtung.
Die Frage, wie der Pflegeberuf attraktiver werden kann, erfordert neue und kreative Antworten. Als ein möglicher Lösungsansatz wird das Konzept »New Work« genannt. Dahinter steht die Hypothese, dass mit diesem Ansatz eine Verbesserung von Inhalten und Rahmenbedingungen des Pflegeberufes gelingen kann.
The diversity of top management teams is a topic of increasing scholarly and practical interest. lt is argued that globalisation requires international operating firms to staff their management teams with international and diverse members. We investigate the influence of institutional environments on gender and internationality diversity in boards to shed light on the question "Why do top management teams look the way they do?" Our sample includes top management team members of the largest stock listed firms in Ge1many and Poland. The sample consists of 60 firms and 852 individuals from 2019. Our findings suggest that the presence of non-natives and women on corporate boards and the international orientation of board members, in terms of education, work experience and directorships, are attributable to national institutional systems. While Germany · s top managers are becoming increasingly internationally diverse and have increasing gender diversification, the figures for Poland are also increasing, but on a much smaller scale. We argue that country-level institutions play an important role in shaping the diversity of corporate boards. Future research should place more emphasis on the external national environment when investigating board diversity.
This paper targets virtual work, an increasingly crucial alternative work arrangement in today’s interconnected world. Based on a survey of 308 employees working in Germany and China, we investigate the relationship between virtual work intensity, work-family balance, and job satisfaction through a mediator model. We find empirical evidence for an inverted U-shaped relationship between virtual work intensity and job satisfaction. When virtual work intensity is below a particular level, it is positively related to job satisfaction. However, increasing virtual work intensity begins to decrease job satisfaction when this threshold is exceeded. Our findings suggest this relationship between virtual work intensity and job satisfaction is mediated by work-family balance. Furthermore, empirical evidence demonstrates that the inverted U-shaped relationship has different optimums in different cultures. The research outcome demonstrates that the threshold is lower for Chinese employees than their German colleagues. This paper contributes to literature relating to job satisfaction, work-family balance, and virtual work by focusing on individual virtual work outcomes in a cross-cultural context. It also attempts to provide an alternative explanation for the generative mechanism of the impact of virtual work intensity on job satisfaction.
At a time where firms encounter a “race for talent”, it is crucial for many MNCs to present themselves as attractive employers. Failing to position themselves in the international labor market can reduce firms' ability to acquire valuable international human capital, thereby generating disadvantageous organizational effects. Against this backdrop, drawing on signaling theory and employer branding literature, our paper aims to shed light on the association between nationality diversity in the executive suite and MNCs' employer attractiveness. Our lines of argument build on the notion that top management team composition can affect MNCs' efforts to promote diversity among their employees. This focus on diversity, in turn, can affect MNCs' employer attractiveness. Examining firms from various European countries, we find that top management team nationality diversity is positively associated with firms' employer attractiveness for foreign job seekers. We also show that a firm's efforts to promote diversity mediate the relationship between TMT nationality diversity and employer attractiveness. We therefore advance the academic debate on diversity as an employer branding tool and a means to enhance employer attractiveness. In practical terms, we also provide valuable insights for firms wishing to transform into (more) diverse entities.
This study explores the role and facilitating actions of top managers in response to the digital transformation. Building on 27 in-depth interviews with top managers and close associates from large German firms, we find that top managers respond to the digital transformation by engaging in three key actions: understanding digitalization, setting the formal context for digitalization, and leading change. Moreover, findings emphasize that top management team support is essential in firms' digital transformation. Overall, this study contributes novel insights about the consequences of top managers for firms and establishes an initial foundation for investigating top managers in the digital age.
This study examines whether top management team (TMT) internationalization is positively related to firm innovativeness. Besides focusing on the accumulation of top managers' international knowledge and capabilities, we explore the influence of moderators reflecting temporal concerns at three levels: CEO age, TMT tenure, and firm age. Combining upper echelons theory with innovation literature and using a sample of large stock-listed German firms, we demonstrate that TMT internationalization can increase firm innovativeness. This relationship is context-dependent on the age of the CEO. Overall, this paper sheds light on the antecedents of firm innovativeness and the consequences of increasingly international TMTs.
Within the retail industry, the grocery discount segment has grown in importance during the last decades. Aldi and Lidl are the two leading grocery discounters worldwide. The present case study outlines the internationalization of Aldi and Lidl. Not only market entry strategies but also target market and timing strategies as well as the standardization-differentiation controversy are addressed.
At the beginning of 2006, one of the biggest takeovers in the sporting goods industry took place: the leading German sporting goods company Adidas acquired its U.S. competitor Reebok. Building on an analysis of the sporting goods industry and the characteristics of Adidas and Reebok, the present case study explores the complexities of the cross-border acquisition. It outlines not only the motives and risks associated with the acquisition but also some major consequences for Adidas’ and Reebok’s strategy, structure and culture. In particular, the case study examines the brand positioning of Adidas and Reebok before and after the acquisition as well as the related challenges. Furthermore, it analyses the integration of Reebok into the Adidas Group between 2007 and 2017, especially in the context of increasing levels of competition, such as competition by industry rivals Nike and Under Armour.
This paper examines the relationship between Americanization and CEO pay levels in Europe and how this relationship is moderated by CEO power. Based on neo-institutional theory, our study provides empirical support for a link between Americanization and CEO pay levels. Drawing on a sample of large listed European firms, our results suggest that various dimensions of Americanization, i.e., Americanization of the CEO, of the firm and of the industry, can be associated with higher CEO pay. Combining neo-institutional approaches with managerial power perspectives, we show that Americanization can have an even stronger effect on pay when the CEO is powerful.
This paper aims to shed light on sustainability oriented frugal innovation. We explore how frugal approaches to innovation can be used as affordable and environmentally sustainable alternatives to established water heater systems. Using a descriptive case study approach, two examples of frugal innovators in Brazil are being depicted. We develop a better understanding how frugal approaches to solving similar environmental problems vary between different organisational forms. Moreover, we investigate in which situations a frugal approach to sustainable innovation appears to be suitable. Our findings indicate that distinct approaches to frugal innovation can be pursued developing environmentally sustainable and affordable technology. Comparing a grassroots non-profit organisation to a for-profit corporation, we identify different degrees of relational importance of frugality in environmental sustainability. We show that frugal approaches represent viable alternatives in achieving circular products and that these approaches can contribute to a socially inclusive form of environmentally friendly domestic energy use.
In den Führungsetagen deutscher Großunternehmen ließ sich über Jahrzehnte hinweg eine starke Verbreitung des Doktortitels feststellen. Doch welche Rolle spielt der Doktortitel heutzutage unter den Vorständen und Aufsichtsräten der DAX-30-Unternehmen? Der vorliegende Beitrag zeigt, dass mit rund 45 % weiterhin ein hoher Anteil der Top-Manager promoviert ist. Es bestehen allerdings wesentliche Unterschiede zwischen einzelnen Branchen; zudem sind jüngere Top-Manager seltener promoviert als ältere Top-Manager.
Based on the observation of higher internationalization of innovation activities of multinational companies towards emerging markets, this paper aims to provide insights on how foreign subsidiaries from the manufacturing industry are changing their innovation roles in China. Based on in-depth expert interviews conducted from the subsidiary perspective in China, this paper affirms that foreign subsidiaries are moving towards higher innovative activities. The study contributes to extant literature by revealing three characteristics, namely innovation capabilities, organizational structures, and interaction with the headquarters that differentiate subsidiaries’ innovation roles with regards to their geography and magnitude of innovation. This study illustrates how these distinctive characteristics and their underlying elements advance as subsidiaries move towards greater innovation roles and discusses implications for managerial practice. Keywords: Subsidiary, innovation, multinational companies, manufacturing industry, organizational change, China
This study examines whether and how top management internationalization is associated with accounting quality. We combine upper echelons perspectives, agency theory, human capital theory and accounting research, and demonstrate that top management internationalization mitigates the level of managerial discretion in financial reporting. By decomposing the top management team, our analysis reveals that higher levels of accounting quality are associated with the internationalization of the CFO, not the internationalization of the CEO. In particular, we find that CFO’s international education and international work experience are important factors in higher accounting quality.
This study integrates the contradictory predictions of human-capital and social-network perspectives about the relationship between executives’ international experience and speed of career advancement. We postulate that these perspectives are rather complementary, and that the relationship between international experience and time to the top follows a U-shaped form. Initially, the acquisition of international experience speeds-up executives’ career progress until a threshold where the social-network costs of cross-country mobility outweigh the human-capital benefits. Our results support the U-shaped relationship. They also show that this relationship is influenced by factors at different layers of context—suggesting that contextual aspects play an important, contingent role._x000D_ Keywords Career internationalization, international experience, CEOs, career advancement, upper echelons, international human resource management
Internationalization of top management teams: a comprehensive analysis of Polish stock-listed firms
(2016)
For most Polish firms, doing business across borders is very common. In order to identify whether the firms' internationalization is reflected by the internationalization of their upper echelons, we conduct a descriptive study on top managers of firms listed at the Polish stock exchange. We apply a holistic approach to measuring board internationalization by taking into account multiple dimensions (e.g., nationality, international education, international work experience, foreign language skills). Our results show that the average level of top management internationalization in Polish firms is relatively low and barely corresponds with the firms' international business activities.
In international business research, a growing number of studies are iestigating the internationalization of top managers and its consequences for firm-level outcomes. However, relatively little attention has been devoted so far to the antecedents of top manager internationalisation and to top manager internationalisation in different institutional contexts. The present study compares the internationalisation of top managers in Germany and the UK and argues that national institutional contexts influence the international profile of top managers human capital. Based on a sample of 931 individuals, we demonstrate that top managers nationality, international work experience and international board appointments vary significantly between Germany and the UK. Our paper has implications for international business research and upper echelons research because it contributes to a better understanding of the antecedents of top manager internationalization in different institutional contexts.
In recent years, there has been an increasing scholarly and practical interest in the internationalization of top management teams. It is argued that international firms need international top managers to meet the challenges arising from operating across borders. However, the few existing studies that focus on the link between top managers’ internationalization and firm performance yield inconclusive results. Thus, it is an open question if and to what extent international firms can benefit from international top managers. Drawing on upper-echelons theory, resource-dependence theory, and signaling theory, this paper examines how the stock market reacts to the appointment of an international top manager. Our empirical study of German firms employs an event study to analyze the direct impact of internationalization on a firm's stock price. Piecewise regression analysis reveals that a top manager's internationalization needs to exceed a certain threshold before iestors incorporate this individual characteristic into their iestment decisions. Furthermore, our analysis shows an ierted U-shaped relationship between internationalization and abnormal returns, suggesting that internationalization may have both positive and negative effects on a firm's stock price. We present several explanations for our empirical findings and discuss future research directions.
Viele deutsche Unternehmen agieren seit langem in internationalen Märkten. Den Forderungen aus Wissenschaft und Unternehmenspraxis folgend sollten grenzüberschreitend tätige Unternehmen von Top-Managern geführt werden, die ihrerseits über ein ausreichendes Maß an Internationalität verfügen. Doch wie kann die Internationalität eines Top-Managers gemessen werden? Und existiert zwischen den Konstrukten „Internationalität eines Top-Managers“ und „Unternehmenserfolg“ ein Wirkungszusammenhang? Tobias Dauth leistet einen Beitrag zur Beantwortung dieser Fragestellungen. Auf Basis einer quantitativen Untersuchung analysiert der Autor die Kapitalmarktreaktionen auf die Benennung internationaler Top-Manager. Bei Bedarf: Der Link unten führt Sie zum E-Book, vorausgesetzt, Ihre Bibliothek hat den Zugang zu Verlagsplattform lizensiert. The link below leads to the full text of the book under the precondition that you have access to the publisher's platform at your library.