Firm survival and financial development: evidence from a panel of emerging Asian economies

Using a panel of five Asian economies – Indonesia, Korea, Malaysia, Singapore and Thailand – over the period 1995–2007 we analyze the links between firm survival and financial development. We find that traditionally used measures of financial development play an important role in influencing firm survival. When stock markets become larger or more liquid firms’ survival chances improve. On the contrary, we show that higher levels of financial intermediation can increase firm failures. We also find that the beneficial effects of stock market development are more pronounced during the later years of our sample, while the adverse effects of bank intermediation have declined over time. Finally, large firms are more likely to benefit from developments in financial markets compared to small firms

Future making and visual artefacts : an ethnographic study of a design project

Current research on strategizing and organizing has explored how practitioners make sense of an uncertain future, but provides limited explanations of how they actually make a realizable course of action for the future. A focus on making rather than sensemaking brings into view the visual artefacts that practitioners use in giving form to what is ‘not yet’ – drawings, models and sketches. We explore how visual artefacts are used in making a realizable course of action, by analysing ethnographic data from an architectural studio designing a development strategy for their client. We document how visual artefacts become enrolled in practices of imagining, testing, stabilizing and reifying, through which abstract imaginings of the future are turned into a realizable course of action. We then elaborate on higher-order findings that are generalizable to a wide range of organizational settings, and discuss their implications for future research in strategizing and organizing. This paper contributes in two ways: first, it offers future making as an alternative perspective on how practitioners orient themselves towards the future (different from current perspectives such as foreseeing, future perfect thinking and wayfinding). Second, it advances our understanding of visual artefacts and their performativity in the making of organizational futures

What matters for corporate failures in Asia? Exploring the role of firm-specific characteristics during the Asian crisis

Empirical investigation of business failures has considered the effects of macroeconomic conditions and financial healthiness in isolation. Using a panel of five Asian economies - Indonesia, Korea, Malaysia, Singapore and Thailand - over the period 1995--2007 we analyse the link between firm survival and financial healthiness during the 1997-98 Asian crisis. We show that the sensitivity of survival to financial indicators is significantly higher during the crisis compared to tranquil periods. In addition, we find that the effect of financial indicators is quantitatively and qualitatively more important in economies with less developed stock exchanges

Reflexive practice and the making of elite business careers

Post-print version. Final version published by Sage; available online at http://mlq.sagepub.com/This paper develops a new perspective on reflexive practice in the making of elite business careers. It builds upon Bourdieu’s practice framework to examine how business leaders from elite and non-elite backgrounds develop and practice reflexivity in their everyday lives. The paper draws upon in-depth life-history interviews with members of the British business elite. Elites exhibited five types of reflexive behaviour, from which two modes of reflexive practice were derived: an accumulative mode, through which business leaders reflexively accumulate capital, positions and perspectives; and a re-constructive mode, through which they re-constitute the self in response to contingences, contexts and insights gathered. Our analysis suggests a link between reflexivity and career advancement, particularly in the case of non-privileged elites. Their greater experience of navigating the social landscape may facilitate perspective-taking, enhancing multipositionality, enabling such individuals to seize opportunities previously unthinkable

Where constructionism and critical realism converge: interrogating the domain of epistemological relativism

The paper interrogates the status, nature and significance of epistemological relativism as a key element of constructionism and critical realism. It finds that epistemological relativism is espoused by authorities in critical realism and marginalized or displaced in the field of management and organization studies, resulting in forms of analysis that are empirically, but not fully critically, realist. This evaluation prompts reflection on the question of whether, how and with what implications epistemological relativism might be recast at the heart of critical realist studies of management and organization

Complex, but not quite complex enough : The turn to the complexity sciences in evaluation scholarship

This document is the Accepted Manuscript version of the following article: Chris Mowles, ‘Complex, but not quite complex enough: The turn to the complexity sciences in evaluation scholarship’. The final, definitive version of this paper has been published in Evaluation, Vol. 20 (2): 160-175, April 2014, doi: https://doi.org/10.1177/1356389014527885 , published by SAGE Publishing. All rights reserved.This article offers a critical review of the way in which some scholars have taken up the complexity sciences in evaluation scholarship. I argue that there is a tendency either to over-claim or under-claim their importance because scholars are not always careful about which of the manifestations of the complexity sciences they are appealing to, nor do they demonstrate how they understand them in social terms. The effect is to render ‘complexity’ just another volitional tool in the evaluator’s toolbox subsumed under the dominant understanding of evaluation, as a logical, rational activity based on systems thinking and design. As an alternative I argue for a radical interpretation of the complexity sciences, which understands human interaction as always complex and emergent. The interweaving of intentions in human activity will always bring about outcomes that no one has intended including in the activity of evaluation itself.Peer reviewe

Organizing to counter terrorism: sensemaking amidst dynamic complexity

publication-status: Acceptedtypes: ArticlePre-print draft (version 1). ‘The final, definitive version of this paper has been published in Human Relations September 2013 66(9): 1201–1223, by SAGE Publications Ltd, All rights reserved. © [The Author]Organizations increasingly find themselves contending with circumstances that are suffused with dynamic complexity. So how do they make sense of and contend with this? Using a sensemaking approach, our empirical case analysis of the shooting of Mr Jean Charles de Menezes shows how sensemaking is tested under such conditions. Through elaborating the relationship between the concepts of frames and cues, we find that the introduction of a new organizational routine to anticipate action in changing circumstances leads to discrepant sensemaking. This reveals how novel routines do not necessarily replace extant ones but instead, overlay each other and give rise to novel, dissonant identities which in turn can lead to an increase in equivocality rather than a reduction. This has important implications for sensemaking and organizing amidst unprecedented circumstances

Mission impossible? The paradoxes of stretch goal setting

© 2016, © The Author(s) 2016. Stretch goal setting is a process involving multiple and nested paradoxes. The paradoxical side of stretch is attractive because it holds great promise yet dangerous because it triggers processes that are hard to control. Paradoxes are not readily managed by assuming a linear relation between the here and now and the intended future perfect. Before adopting stretch goal setting, managers should thus be prepared for the tensions and contradictions created by nested or interwoven paradoxes. Achieving stretch goals can be as difficult for the managers seeking to direct the process as for designated delegates. While the increasing popularity of stretch goal setting is understandable, its unexpected consequences must be taken into account. The inadequate use of stretch goals can jeopardize the social sustainability of organizations as well as their societal support systems

Routine dynamics in action: replication and transformation

Contains an Open Access chapter.This book explores central themes in the enactment and coordination of organizational routines, including replication and transfer, ecologies and interdependence, action and the generation of novelty and technology and sociomateriality.