Title: | Equity markets and firm innovation in interaction : a study of a telecommunications firm in radical industry transformation |
Author(s): | Vesterinen, Johanna |
Date: | 2009 |
Language: | en |
Pages: | viii, 192 s. |
Major/Subject: | Organisaatiot ja johtaminen (Organization and Management) |
ISBN: | 978-952-488-327-6 |
Series: | Acta Universitatis oeconomicae Helsingiensis. A, 346 |
ISSN: | 1237-556X |
Bibid: | 445074 | |
Supervising professor(s): | Tainio, Risto, professor |
Controlled terms: | teleoperaattorit, teleliikenne, arvopaperimarkkinat, yritykset, innovaatiot, rakennemuutokset, telecommunications industry, teletraffic, stock exchange markets, companies, innovation, structural change |
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Abstract:The aim of this doctoral thesis is to advance understanding of the interrelationships between equity markets and firm innovation in their institutional context. The principal theoretical issue addressed in this thesis is reflected by the main research question, “How and why do equity markets and firm innovation interact?” Herein, the aim is to identify generative mechanisms that underlie social processes in the complex interaction between equity markets and firm innovation. In this respect, the study aims to enhance the understanding of distinct social actors’ behavior. In particular, it aims to elucidate how this behavior guides the expectations and actions of the social actors, and how these expectations and actions impact the firm innovation process and subsequent institutional change. Prior research has examined the interplay between institutional investors and firm innovation from the management perspective (Carpenter et al. 2003; Lazonick & Prencipe 2005; Tainio 2001a; Tainio 2002; Tainio 2003a,b; Tainio et al 2003). This research examines the relationship between equity markets and firm innovation from the perspective of diverse stakeholders. The research underscores the regulative, normative, and cognitive embeddedness of the organization within its transforming institutional context. Herein, the research takes into consideration the properties of the organization’s history and internal dynamics, coined as ‘interests, values, power dependencies, and capacity for action’ by Greenwood & Hinings (1996), and their interplay with external dynamics.
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