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Research seminar with Associate Professor Stewart R. Miller
June 19, 2013 @ 12:00 pm - 1:15 pm
Dr. Stewart Miller is an Associate Professor of Management in the Department of Management at The University of Texas at San Antonio. His research interests are international strategy, liability of foreignness, international strategic alliances,
internationalization and emerging markets.
Stuart Miller will give a presentation of his recent paper forthcoming in Journal of Management. Additionally, he will share his experiences and reflections on publishing in top journals.
“Financial Implications of Local and Non-Local Rival Isomorphism: A Signaling Paradox”
We develop an isomorphism-signaling framework to explain the likelihood of isomorphic behavior (and nonconformity) by a focal firm toward local rivals and nonlocal rivals and then predict financial performance associated with the action. In the presence of asymmetric information, we predict a causal relationship between rival isomorphism and financial performance that reveals a paradox – that is, we theorize and show conditions in which ”conforming” reflected by rival isomorphic behavior is a signal that “separates” high quality from low quality firms. We consider a firm’s costs and benefits of local and nonlocal rival isomorphism and assert that a firm can signal its quality, which affects financial performance of the equity offering. We test and find support for our hypotheses using a sample of firms raising capital abroad from 1994 to 2005.