Do institutional investor and group, firm and time effects matter in enterprise performance in the corporate life cycle?
Corporations undergo growth, maturity and decline, stages which form the corporate life cycle. This study discusses the influence of group, firm and time effects on enterprise performance variation at the different life cycle stages of Taiwan’s electrical and machinery industry. Results indicate tha...
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Taylor & Francis Group
2019
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oai:doaj.org-article:f47ecf913ae04b67be5dc58a7b8d8bcd2021-12-02T16:09:30ZDo institutional investor and group, firm and time effects matter in enterprise performance in the corporate life cycle?2331-197510.1080/23311975.2019.1606473https://doaj.org/article/f47ecf913ae04b67be5dc58a7b8d8bcd2019-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2019.1606473https://doaj.org/toc/2331-1975Corporations undergo growth, maturity and decline, stages which form the corporate life cycle. This study discusses the influence of group, firm and time effects on enterprise performance variation at the different life cycle stages of Taiwan’s electrical and machinery industry. Results indicate that firm effect has a stronger influence than group effect, and group effect has the strongest influence at the mature stage. Thus, group effect is greatly reduced, whereas firm effect should be reduced but increased at the decline stage, a finding that is different from general perceptions. Institutional investors are important for corporations, and the response strategies of firms for institutional investors vary at different stages of the corporate life cycle. Therefore, this study also discusses the influences of institutional investors on enterprise performance variation at the firm level. Results suggest that firms implement suitable response strategies for institutional investors. Moreover, domestic general enterprise investors have positive and large impacts on enterprise performance, whereas financial institutional investors have a negative impact during the decline stage.Chiau-Shi YangJonchi ShyuTaylor & Francis Grouparticletaiwan electrical and machinery industrygeneral enterprise investorsfinancial institutional investorscorporate life cyclehierarchical linear modelBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 6, Iss 1 (2019) |
| institution |
DOAJ |
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DOAJ |
| language |
EN |
| topic |
taiwan electrical and machinery industry general enterprise investors financial institutional investors corporate life cycle hierarchical linear model Business HF5001-6182 Management. Industrial management HD28-70 |
| spellingShingle |
taiwan electrical and machinery industry general enterprise investors financial institutional investors corporate life cycle hierarchical linear model Business HF5001-6182 Management. Industrial management HD28-70 Chiau-Shi Yang Jonchi Shyu Do institutional investor and group, firm and time effects matter in enterprise performance in the corporate life cycle? |
| description |
Corporations undergo growth, maturity and decline, stages which form the corporate life cycle. This study discusses the influence of group, firm and time effects on enterprise performance variation at the different life cycle stages of Taiwan’s electrical and machinery industry. Results indicate that firm effect has a stronger influence than group effect, and group effect has the strongest influence at the mature stage. Thus, group effect is greatly reduced, whereas firm effect should be reduced but increased at the decline stage, a finding that is different from general perceptions. Institutional investors are important for corporations, and the response strategies of firms for institutional investors vary at different stages of the corporate life cycle. Therefore, this study also discusses the influences of institutional investors on enterprise performance variation at the firm level. Results suggest that firms implement suitable response strategies for institutional investors. Moreover, domestic general enterprise investors have positive and large impacts on enterprise performance, whereas financial institutional investors have a negative impact during the decline stage. |
| format |
article |
| author |
Chiau-Shi Yang Jonchi Shyu |
| author_facet |
Chiau-Shi Yang Jonchi Shyu |
| author_sort |
Chiau-Shi Yang |
| title |
Do institutional investor and group, firm and time effects matter in enterprise performance in the corporate life cycle? |
| title_short |
Do institutional investor and group, firm and time effects matter in enterprise performance in the corporate life cycle? |
| title_full |
Do institutional investor and group, firm and time effects matter in enterprise performance in the corporate life cycle? |
| title_fullStr |
Do institutional investor and group, firm and time effects matter in enterprise performance in the corporate life cycle? |
| title_full_unstemmed |
Do institutional investor and group, firm and time effects matter in enterprise performance in the corporate life cycle? |
| title_sort |
do institutional investor and group, firm and time effects matter in enterprise performance in the corporate life cycle? |
| publisher |
Taylor & Francis Group |
| publishDate |
2019 |
| url |
https://doaj.org/article/f47ecf913ae04b67be5dc58a7b8d8bcd |
| work_keys_str_mv |
AT chiaushiyang doinstitutionalinvestorandgroupfirmandtimeeffectsmatterinenterpriseperformanceinthecorporatelifecycle AT jonchishyu doinstitutionalinvestorandgroupfirmandtimeeffectsmatterinenterpriseperformanceinthecorporatelifecycle |
| _version_ |
1718384447370297344 |