Recent increases in stock repurchases among U.S. corporations coupled with a historically low cost of debt since the Global Financial Crisis has created media speculation that firms in recent years are paying for their expanding share buyback programs with debt. Repurchasing stock by increasing leverage, instead of using internal funds, implies that managers may speculate on current low interest rate environments at the expense of shareholders. Recent studies find that stock repurchases are associated with reductions in future firm employment and investments such as capital expenditures and research and development expenses. This study expands on prior studies by evaluating how debt-financed stock repurchases affect firm investment, investigating the likelihood of these repurchases in low interest rate environments and assessing the effects on firm value. Results confirm that, in recent years, debt-financed repurchases have increased substantially and the probability of debt-financed repurchases increases in the presence of low interest rates. This relationship is especially pronounced in the years following the Global Financial Crisis. Debt-financed repurchases are associated with small reductions in firm investment; however, these reductions are significantly less after adjusting for industry conditions. Finally, there is little evidence that the method of financing repurchases affects firm value nor does it …

This research aims to investigate the (1) review effects on consumer decision making process, (2) effects of negative reviews on brand equity, and (3) consumers' likely response to a brand's request for reviews. The objective of the first essay is to investigate the nature of the relationship between skepticism and consumer decision making in an online behavior context. Its second objective is to know whether people's belief on their abilities or their hedonic principle moderates the relationship between a person's skepticism toward online reviews and their reliance on online reviews. The objective of the second essay is to explore whether negative online reviews that focus on service quality specific dimensions have a different effect on a service organization's perceived brand equity. Its second objective is to analyze the role of emotional contagion in the relationship between negative reviews related to various service quality dimensions and its effect on perceived brand equity. The main objective of the third essay is to know whether consumers are more likely to write an online review for a brand when the request comes from a higher equity brand. This essay also investigates how message trust and persuasion knowledge influence the relationship between a brand's request …

Firms' operational restructuring involves information relevant to strategic choices as well as future demand and cost conditions. This study examines the relationship between peer firms' restructuring and a company's responsiveness to its growth opportunities. Peer firm restructuring can increase uncertainty with respect to a company's payoffs regarding its investment projects, leading to decreased responsiveness to growth opportunities. Using a large sample of public companies during 2006–2020, I find that peer firms' restructuring is negatively associated with the responsiveness of capital expenditures (Capex) to growth opportunities. The results suggest that peer firms' restructuring activities provide information about a company's investment projects above and beyond industry shocks reflected in changes in industry sales. Furthermore, these associations are moderated by industry competition. The negative effects of peer firms' restructuring on Capex sensitivity are the strongest in high-competition industries.

Access to adequate liquidity to finance future investments is an essential element of financial management. The two main questions that this dissertation attempts to answer are (i) what is the net valuation effect of LoC? and (ii) if LoC create value, what are the sources of this value? To answer these questions, I constructed a sample of 85,232 firm-years spanning from 1993 to 2016, with credit line data obtained from Capital IQ and Bloomberg. I investigated the valuation effects of LoC with a methodology extensively used in the analysis of the valuation implications of cash. I used this methodology because cash and LoC are two alternatives to manage liquidity and estimated the changes in shareholders' value associated with changes in existing LoC undrawn balances and on new LoC agreements. The results from this analysis demonstrates a positive association between increases in LoC capacity and shareholder's value. These findings are also obtained in univariate and event study analyses. The results also suggest that LoC create more value for firms that are rich in cash, indicating the LoC and cash are complementary liquidity management tools. I then focused on the sources of the value created by credit lines. I examined whether information …

The objective of this dissertation is to first identify if there are any academic research gaps in our understanding of the medical supply chain and secondly to understand the role and impact of logistics on the human organ transplant process. The first essay identifies the current status of medical supply chain literature and provides future direction for improving the medical supply chain. This was accomplished by preforming a systematic literature review and a bibliometric analysis from 2,160 publications was conducted. The second essay explores how logistical aspects impact transplant logistics performance and the quality of life for the transplant recipient. Survey data was collected from medical professionals and analyzed using structural equation modeling. The third essay identifies the factors are influencing the number of donor kidneys discarded each year. A retrospective analysis of all deceased donor kidneys procured in hospitals in UNOS region 4 (Texas and Oklahoma) from January 1, 2001, to June 28, 2021, was conducted. Data was analyzed using multinomial logit regression and panel data analysis. As a result, we identified several medical and logistics factors that have influenced the number of donor kidneys discarded in the United States.

This dissertation research explores the factors that influence direct selling agents' sales performance and job satisfaction. In the direct selling channels, the agents not only sell the products to customers. They may concurrently perform a "distributor" role as a stand-alone entity composed of their own sales network. This dissertation research features two essays. The first essay investigates how direct selling agents' perceptions of control and sense of belonging relate to PO. This essay further explores how PO influences job performance and job satisfaction. Results suggest that perception of control and sense of belonging fuel PO. Furthermore, leader-member exchange mediates the relationship between PO and sales performance, as well as PO and job satisfaction in direct selling networks. The second essay introduces a new construct (relational incongruity) and discusses how complex sales environments and direct selling agents' organizational structures influence the relational incongruity in their organization and its ensuring effect on sales performance and job satisfaction. The results indicate that organizational complexity is positively related to relational incongruity. However, customer complexity has a negative impact on relational incongruity. Relational incongruity in direct selling agents' organizations has negative effects on job satisfaction but has no effects on sales performance. Epistemic curiosity undermines …

Individuals vary in the level of their mental presence during interactions; some individuals are mentally present with others, while others are mired in their thoughts and emotions. Scholarly work on this area is limited, and we know very little about why some individuals display mental presence better than others. In this dissertation, I explore the concept through a series of three essays. In the first essay, I define relational mindfulness as the ability to be mentally present with others. Further, I propose that relational mindfulness has three essential features: others' focus, thought-switching, and emotional acceptance. I operationalize the scale to measure relational mindfulness and investigate its nomological network by correlating it with different constructs. Data from four different samples provide support for the three-factor structure of relational mindfulness and provide support for the relationship of relational mindfulness with related constructs. In the second essay, I explore the relevance of relational mindfulness for front-line employees by investigating the two pathways through which relational mindfulness can reduce fatigue of front-line employees. In the first pathway, I posited that relational mindfulness would decrease the intensity of surface acting of employees when their customers mistreat them, and thus reduce fatigue of employees. In the …

Absorptive capacity plays an important role in the organizational adaptation process. Prior research on absorptive capacity focuses on its role in organizational outcomes such as financial performance, innovation, new product development, etc. Recently, scholars have called for research on factors that influence absorptive capacity. Because absorptive capacity plays a vital role in achieving organizational outcomes, it behooves us to improve our understanding of absorptive capacity and its antecedents to serve both researchers and practitioners. In this investigation, strategic thinking is posited to be a key antecedent of absorptive capacity. Capability theory suggests that strategic thinking is a metaphysical (higher order) capability that influences an organization's absorptive capacity. Combining this argument with Miles and Snow's typology of organizational adaptation process, it is posited that the relationship between strategic thinking and absorptive capacity can be clustered into different "groups." Prospectors, defenders, and analyzers, characterized in Miles and Snow's typology of firms are viewed as distinctive groups that exhibit different relationships between strategic thinking and absorptive capacity. Results from an empirical examination suggest that strategic thinking is positively related to absorptive capacity. The results also suggest that the relationship between these two constructs is different between these groups and that the strategic thinking …

The technology for storing and using big data is evolving rapidly and those that can keep pace are likely to garner additional competitive advantages. One approach to uncovering existing practice in a manner that provides insights for building theory is the use of grounded theory. The current research employs qualitative research following a grounded theory approach to explore gap in understanding the relationship between big data (BD) and the supply chain (SC). In this study eight constructs emerged: Organizational and environmental factors, big data and supply chain analytics, alignment, data governance, big data capabilities, cost of quality, risk analysis and supply chain performance. The contribution of this research resulted in a new theoretical framework that provides researchers and practitioners with an ability to visualize the relationship between collection and use of BD and the SC. This framework provides a model for future researchers to test the relationships posited and continue to extend understanding about how BD can benefit SC practice. While it is anticipated that the proposed theoretical framework will evolve as a result of future examination and enhanced understating of the relationships shown the framework presented represents a critical first step for moving the literature and practice forward.

The momentum puzzle, i.e., stocks that have performed better in the past tend to perform better in the future, has been a constant challenge to classic finance theory. Prior research has failed to provide valid risk-based explanations because winner portfolios do not exhibit higher risk characteristics. Without a convincing risk explanation, the persistence of momentum profit is a violation of the efficient market hypothesis. Today, the momentum puzzle remains one of the very few major anomalies that cannot be explained by Fama-French factor models. I find prior empirical efforts to measure momentum profits and its sources are contaminated by the state of the market during both formation and holding periods. By looking into different market states, classified by both traditional and non-traditional bull and bear market definition, I find the key to at least partially solve the momentum mystery. Momentum stocks are riskier when formed in bull market, and momentum profit is much higher in continuation of market than reverses of market condition, lending empirical support to a risk-based explanation. My definition of market states is essentially based on the risk premium of major risk factors. When market risk is considered a risk factor, if realized market risk premium is …

There exists heightened research attention afforded to the pivotal demands - both internal and external - that exist within the salesperson role set. Unprecedented pressures on salespersons to acquire, retain, and build enduring customer relationships to enhance the firm's bottom-line performance coincides with increasing complexities within the work environment. This relevant and timely research introduces an original construct derived from the long-standing attention afforded to relationship selling, relational incongruity that exists within the buyer-seller exchange. Relational incongruity, defined, is the relational tension spawned between the salesperson, the customer, and the firm when situational psychological incongruity exists within the buyer-seller exchange itself. Framed in resource-advantage theory, this research investigates divergent demands and the increasing complexity of sales relationships through the lens of relational incongruity. A research program based on minimizing relational incongruity will augment the sales management and B2B literature by looking at how he salesperson and the customer build strong relationships as well as the antecedents that can undermine these relationships by generating realtional incongruity.

In collective affect research, an assumption is often made that through processes such as emotional contagion and attraction-selection-attrition members will converge unto a shared group affective tone. While this assumption is not without warrant, a limitation of previous work on interpersonal emotional processes of individuals, individuals within dyadic relationships, or members within teams is the lack of examination into the varying perceptions individuals may form regarding these affective experiences. To examine the development and influence of these affective perceptions, we extend recent works from work group conflict literature to examine the influence of perception asymmetry when applied to affective interactions. Wherein, we describe a novel construct of Perception Asymmetry of Affect (PAA). PAA refers to the congruence (e.g.; low level of PAA) or incongruence (e.g.; high level) of perceptions of positive and negative affective experiences between two or more individuals. This paper explores the following questions: 1) does perception asymmetry of affect exist; 2) if so, what causes perception asymmetry between individuals and their groups, within dyads, and within groups. This article contributes to literature on collective affect by offering a detailed framework for an understudied phenomenon of diverging or asymmetric perceptions.

The purpose of this three-essay dissertation was to expand knowledge and theory regarding soft systems methodologies (SSMs) and data visualization approaches in business, engineering, and other social sciences. The first essay depicts a bibliometric analysis study of the historic impacts of SSM from 1980-2018 on business, engineering, and other social sciences fields. This study found 285 articles that described or employed SSM for research and included outcomes such as top SSM authors, author citation impacts, common dissemination outlets, time-bound distribution of publications, and other relevant findings. This study provided a picture of who, what, why, when, and where SSM has had the greatest impact on academic thought and practice. The second essay presents research on the academic impact of Systemigrams, an associated data visualization approach, finding examples of conceptual or research development that employed Systemigrams to depict complex problem situations. Recommendations for improvement of designing these data visualizations to increase their field use resulted from this study. The final essay leverages a selection of the articles as use cases to produce a grounded theory study to identify phenomena that arose from the use of SSM for operations and firm strategy research. This study identified two broad themes including (i) scope, …

There is a dual accountability accepted by top executives of large multi-business firms (MBFs) to both consistently deliver performance in the short term and cultivate scalable opportunities for future growth, which requires that they be able to implement both evolutionary and revolutionary change. Researchers have defined this capability as organizational ambidexterity (OA) and deemed it a crucial requirement for every organization. Literature in the field of organizational ambidexterity (OA) describes the need to simultaneously orchestrate attention and activities along two dimensions of ambidexterity: exploitation and exploration. This dissertation peels back the layers in MBFs to generate a deeper understanding of OA in the MBF, by answering three research questions, using a mixed method approach-qualitative study followed by quantitative study: (1) What is an appropriate specification of OA in an MBF? (2) Are there differences in exploration and exploitation across the three levels within the MBF? and (3) Is there a relationship between exploration and exploitation and MBF performance at each of the three levels within the MBF? Qualitative Study 1 was conducted in December 2017, to investigate and confirm the appropriateness of the three-level operationalization of OA in MBFs. The data comprised eleven semi-structured interviews with senior executives that serve …

The problem with which this investigation is concerned is whether or not dogmatism and neuroticism in supervisors of sheltered workshops is related to changes in the self-concept of handicapped employees. The measurements of dogmatism and neuroticism were accomplished through the use of Rokeach's Dogmatism Scale, (form E) and Winne's Neuroticism Scale. Pitt's Tennessee Self Concept Scale was used to measure the self-concept of the handicapped employees.

Additive manufacturing (AM), commonly known as 3D printing, has been attracting attention from practitioners as well as academicians with its continuous evolution from being used primarily for prototyping to now end-product production. Despite this technology's current and future potential, few studies indicate that AM has not been extensively used across all industries. This dissertation addresses knowledge gaps by providing theoretical and empirical support for adopting AM through three essays that study the role of AM in restructuring supply chains. Essay 1 provides systematic support for AM implementation by developing a typology derived from technology-specific potentials and challenges to adopting AM. This study uses an exploratory research approach to collect and analyze data from semi-structured interviews of practitioners with deep knowledge of AM and supply chains from diverse industries. In Essay 2, our results show that AM adoption positively influences supply chain responsiveness and, in turn, reshoring decisions. Essay 3 compares different supply chain configurations based on traditional and AM. We developed a hybrid simulation model combining discrete event simulation and agent-based simulation and compared the performance in terms of wait time and costs. Our results indicate that under certain conditions, the centralized configuration delivers spare parts faster than the distributed …

Corporate corruption is a widespread phenomenon that persists in the functioning of both public and private companies of differing size, performance, industry, and national origin. As it generates negative effects both within and outside the organization, corporate corruption has been the subject of scholarly research. Yet, despite attempts to understand its antecedents and consequences, companies continue to struggle to eliminate corruption in their business practices. Thus, the overarching research question for this dissertation is "Why do companies continue engaging in corruption?" To answer this research question, I focused on the topic of organizational corruption control, i.e., a set of mechanisms that purposefully target the prevention of corrupt practices within an organization. Specifically, I investigated the trident of organizational corruption control via its effects and implications on three constructs - corporate social performance, opportunity attractiveness of organizational corruption and corporate corruption recidivism. Using distinct methodologies, I examined corporate corruption control in three separate studies to address 1) the effect of corruption control on the opportunity attractiveness of organizational corruption 2) the effect of corruption control on corporate social performance and 3) the implication of ineffective corruption control on organizational corruption recidivism. Based on interdisciplinary theoretical perspectives and several secondary data sources, …

To address emerging challenges in empowering patients through telehealth, this dissertation has the following objectives: (a) find the key characteristics that enable patient empowerment [PE], (b) determining when will PE work as a solution, (c) find the optimal telehealth care method that enables PE, and (d) evaluate the impact of telehealth on health care outcomes (such as, patient satisfaction, patient trust with primary care providers, etc.) that ultimately enhances PE. These objectives are addressed in three studies presented here as three essays. Collectively, these essays contribute to the knowledge on PE, patient trust, and telehealth by providing insights on leveraging PE towards better health care services and delivery systems. Essay 1 aims to systemically map the concept of PE using principles of systems thinking with the Boardman soft systems methodology that enables a graphical visualization (i.e., systemigrams). Essay 2 investigates the practical and theoretical implications of connecting patients to empowerment care plans and minimizing wait times in healthcare service delivery using electronic prescriptions (s-scripts), phone calls, and video calls. In Essay 3, the mediating role of telehealth services between patient empowerment and patient satisfaction was analyzed, along with patient trust was assessed as a moderator between telehealth usability and patient …