This paper proposes a new ‘World Volatility Index’, coined WVIX, by constructing the first index that approximates the aggregate volatility level of the G20 countries. The empirical analysis makes use of the factor dynamic conditional correlation model – with an automated methodology to...

The research shows that banking relationships are important to lending. However, few studies focus on the banking relationships in syndicated loans, although these loans have became a major source of financing. The last financial crisis clearly shows the impacts of credit rationing and...

Strategic surprise lies in wait. There is no surprise if competitors can figure out one's intentions before end. We examine how enlightened strategists can enact the socially-embedded knowledge that prevails over competitors' behavior to their very own favor. Findings suggest that firms can...

About 90% of entrepreneurs in the high-tech and professional service industries were previously employed in the same sector. In this paper, we provide a theory for how aspiring entrepreneurs choose an employer. We contrast 'transparent' employers (or firms) promoting personal accountability and...

Based on ten months of field research in a high technology start-up, and using ethnographic and grounded theory methodologies, this study identifies six basic narrative types (founding, visionary, marketing, strategy, historical, and conventional) in three main categories (personal, generic, and...