Technological Competence and International Diversification |
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Authors: | Laszlo Tihanyi Robert E Hoskisson Richard A Johnson William P Wan |
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Affiliation: | (1) Department of Management, Mays Business School, Texas A&M University, College Station, USA;(2) Jesse H. Jones Graduate School of Business, Rice University Houston, Houston, USA;(3) Department of Management, Robert J. Trulaske, Sr. College of Business, University of Missouri, Columbia, USA;(4) Area of Management, Rawls College of Business, Texas Tech University, Lubbock, USA |
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Abstract: |
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This paper shows that the role of managerial incentives is highlighted by a relatively complex relationship between technological
competence and international diversification. By studying a sample of Standard & Poor’s 500 member firms, we explore the relationships
between technological competence, managerial pay, and international diversification.
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Results indicated a curvilinear relationship (an inverted U-shape) between technological competence and international diversification. |
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In line with agency theory, contingent pay (stock options and bonuses) was positively related to international diversification. |
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Beyond these direct effects, both contingent and non-contingent pay (cash compensation) moderated the relationship between
technological competence and international diversification.
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Keywords: | |
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