IMD business school for management and leadership courses
With organizations of all sorts facing increased urgency and unpredictability, being able to ask smart questions has become key. But unlike lawyers, doctors, and psychologists, business professionals are not formally trained on what kinds of questions to ask when approaching a problem. They must learn as they go. In their research and consulting…
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Family firms purportedly use different socioemotional wealth (SEW) reference points in choosing strategies, yet empirical research continues to use family involvement as a proxy for SEW. This study uses a configurational approach to examine how the multidimensionality of SEW may be used to explain the firm’s chosen strategy. We use psychometric …
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In recent years, India had experienced a digital revolution, emerging as a forerunner in cashless payments and, in the process, dramatically raising the level of financial inclusion in the country. The National Payments Corporation of India (NPCI), established in 2008 with the mandate to improve national payment systems, became a global gold sta…
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We systematically review business research concerning the planetary boundaries framework: A natural science framework that identifies nine Earth system boundaries that govern the safe operating space for humanity. Ten years after the introduction of the planetary boundaries in business studies, we pose two critical questions: How has the planeta…
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In addition to traditional venture capital (VC), governmental VC and social impact VC investors have emerged as alternatives to fund entrepreneurial ventures, especially start-ups that incorporate social and/or environmental objectives into commercial operations. Using a sample of 15,510 VC-backed start-ups, we show that impact-oriented ventures…
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In this study, we analyze how the performance-aspiration gap influences strategic change in family firms, providing evidence of the moderating role of family ownership in this relationship. According to socioemotional wealth (SEW) theory, family owners pursue non-financial as well as financial goals, are more risk-averse due to their personal we…
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Cross-sector partnerships formed to address societal challenges are widely advocated and increasingly common. Joint goal setting is an essential phase in the collaborative process that can determine the course of a partnership. Yet, little is known about how cross-sector goals change and evolve because goal alignment between partners is often ta…
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We study the effects of carbon transition risk on equity prices in the United States and Europe using disclosed carbon intensity data and find a negative effect on the cross section of returns and a negative carbon premium for the period 2009–2019. Examining fund flows, we find that institutional investors had an aversion to carbon-intensive sto…
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Do women directors make firms more risk-averse or more innovative? We examine this question by predicting and showing that the effect of increasing women directors on the board on firm innovation output depends on the firm’s performance relative to aspirations (PRA). Research based on the Behavioral Theory of the Firm (BTOF) has shown that the b…
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The idea of an EU bond, a common safe asset, has been gaining attention lately, particularly following calls for its introduction this month by former Italian prime minister Mario Draghi.
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Western media’s alarmist tone focuses on China’s growing surplus while data reveals foreign firms have made gains in China.
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The call by the former Italian prime minister and ECB president for massive investment in the EU is a wake-up call to Europe’s economic stagnation. But can the continent afford the trade-offs it is overlooking?
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September 2024 marks a turning point in the world of corporate management. Paul Graham, a prominent figure in Silicon Valley and founder of Y Combinator, the most renowned global innovation incubator, recently published an essay on founder mode , presenting it as an alternative to the traditional corporate management model. The origin of this re…
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The AI boom — and the growth of gen AI in particular — has introduced new points of conflict between employees and companies. Some of these have already started to play out, such as in the Writers Guild of America strike over how AI can and can’t be used in the entertainment industry. But others are still on the horizon. As AI becomes more integ…
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The US leads in military matters and finance, while China dominates manufacturing in a more fragmented and unpredictable landscape for companies.
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