What does board capital really bring to the table? Exploring the effect of directors' human and social capital on effective governance during international expansion

What constitutes effective corporate governance? Which director characteristics render boards effective at positively influencing firm-level performance outcomes? This dissertation examines these questions by taking a multilevel, multidisciplinary approach to corporate governance. I explore the individual-, team-, and firm- level factors that enable directors to serve effectively as strategic resources during international expansion. I argue that directors' international experience improves their ability to serve as effective strategic consultants and resource providers to firms during the complex internationalization process. However, unlike prior research, which tends to assume that directors with the potential to provide important resources uniformly do so, I acknowledge contextual factors (i.e. board cohesiveness, strategic relevance of directors' experience) that affect their propensity to actually influence outcomes. I explore these issues in three essays: one review essay and two empirical essays.^ In the first empirical essay, I integrate resource dependence theory with insights from social-psychological research to explore the influence of board capital on firms' cross-border M&A performance. Using a sample of cross-border M&As completed by S&P 500 firms from 2004-2009, I find evidence that directors' depth of international experience is associated with superior pre-deal outcomes. This suggests that boards' deep, market-specific knowledge is valuable during the target selection phase. I further find that directors' breadth of international experience is associated with superior post-deal performance, suggesting that these directors' global mindset helps firms in the post-M&A integration phase. I also find that these relationships are positively moderated by board cohesiveness, measured by boards' internal social ties.^ In the second empirical essay, I explore the boundary conditions of international board capital by examining how the characteristics of firms' internationalization strategy moderate the relationship between board capital and firm performance. Using a panel of 377 S&P 500 firms observed from 2004-2011, I find that boards' depth of international experience and social capital are more important during early stages of internationalization, when firms tend to lack market knowledge and legitimacy in the host markets. On the other hand, I find that breadth of international experience has a stronger relationship with performance when firms' have higher scope of internationalization, when information-processing demands are higher.^

What Does Board Capital Really Bring to the Table? Exploring the Effect of Directors’ Human and Social Capital on Effective Governance During International Expansion

What constitutes effective corporate governance? Which director characteristics render boards effective at positively influencing firm-level performance outcomes? This dissertation examines these questions by taking a multilevel, multidisciplinary approach to corporate governance. I explore the individual-, team-, and firm- level factors that enable directors to serve effectively as strategic resources during international expansion. I argue that directors’ international experience improves their ability to serve as effective strategic consultants and resource providers to firms during the complex internationalization process. However, unlike prior research, which tends to assume that directors with the potential to provide important resources uniformly do so, I acknowledge contextual factors (i.e. board cohesiveness, strategic relevance of directors’ experience) that affect their propensity to actually influence outcomes. I explore these issues in three essays: one review essay and two empirical essays. In the first empirical essay, I integrate resource dependence theory with insights from social-psychological research to explore the influence of board capital on firms’ cross-border M&A performance. Using a sample of cross-border M&As completed by S&P 500 firms from 2004-2009, I find evidence that directors’ depth of international experience is associated with superior pre-deal outcomes. This suggests that boards’ deep, market-specific knowledge is valuable during the target selection phase. I further find that directors’ breadth of international experience is associated with superior post-deal performance, suggesting that these directors’ global mindset helps firms in the post-M&A integration phase. I also find that these relationships are positively moderated by board cohesiveness, measured by boards’ internal social ties. In the second empirical essay, I explore the boundary conditions of international board capital by examining how the characteristics of firms’ internationalization strategy moderate the relationship between board capital and firm performance. Using a panel of 377 S&P 500 firms observed from 2004-2011, I find that boards’ depth of international experience and social capital are more important during early stages of internationalization, when firms tend to lack market knowledge and legitimacy in the host markets. On the other hand, I find that breadth of international experience has a stronger relationship with performance when firms’ have higher scope of internationalization, when information-processing demands are higher.

A study of the relationship between U.S. hotel companies and travel agency companies: Determinants of the success of the relationship

The primary objectives of this study were to describe the relationship that U.S. hotel companies have with travel agency companies and to identify the determinants of a successful relationship.^ The unit of analysis was hotel companies operating in U.S. One hundred and three hotel companies contributed information for this research. The data were collected through a questionnaire developed from previous empirical studies and from interviews with hospitality management professors and hotel sales and marketing directors.^ Simple and multiple regression analyses indicated that in order to have successful relationships with travel agency companies, hotel companies should (a) show more commitment or dedication to working with the travel agents, (b) have more trust in the travel agents themselves, and (c) be less dependent on any one travel agent for their business.^ Additionally, the results suggest that hotel companies who coordinate activities with travel agents companies and who communicate with them in a timely, accurate, adequate, complete and credible manner have more successful interorganizational relationships than those who do not.^ Furthermore, hotel companies who share proprietary sales and any other information with travel agents reported better relationships. (Abstract shortened by UMI.) ^

Inventing indigenous religious belief and practice within the spaces of Ghanaian Pentecostalism : the Mame Wata healing churches of Half Assini

Goddesses in African religions are spirits that affect humans and demand reverence from them. They are also embodiments of ideas that African people have about women, their powers and their roles in society. This study focused on Mame Wata, a goddess in Half Assini, an Nzema-speaking coastal community in western Ghana. It sought to resolve a paradox, that is, the fact that, the goddess is at the center of a Pentecostalist tradition even though traditional Pentecostalism in Ghana views her as an agent of the devil. The study involved fieldwork in this community of the goddess's female worshippers led by Agyimah, a charismatic man, and an agent of the goddess. The study interpreted the goddess as a post-colonial invented symbol personifying both pre-colonial and emerging ideas about female power. Findings from the study also show that through Mame Wata the followers celebrate the spirituality of the female.

Guatemala: A Failing State?

 Guatemala is not a failed state and is unlikely to become one in the near future. Although the state currently fails to provide adequate security to its citizens or an appropriate range of effective social programs, it does supply a functioning electoral democracy, sound economic management, and a promising new antipoverty program, My Family Progresses (MIFAPRO).  Guatemala is a weak state. The principal security threats represented by expanding Mexican drug trafficking organizations (DTOs), criminal parallel powers, and urban gangs have overwhelmed the resources of the under-resourced and compromised criminal justice system. The UN-sponsored International Commission against Impunity in Guatemala (CICIG), however, has demonstrated that progress against organized crime is possible.  The principal obstacles to strengthening the Guatemalan state lie in the traditional economic elite’s resistance to taxation and the venal political class’ narrow focus on short-term interests. Guatemala lacks a strong, policyoriented, mass-based political party that could develop a coherent national reform program and mobilize public support around it.  The United States should strengthen the Guatemalan state by expanding the Central America Regional Security Initiative (CARSI) and by strongly supporting CICIG, MIFAPRO, and the Supreme Electoral Tribunal (TSE).

Hispanic orientalism: The literary development of a cultural paradigm, from medieval Spain to modern Latin America

This dissertation offers a novel approach to Hispanic Orientalism, developing a dynamic paradigm from its origins in medieval and Renaissance Iberia during the process of the Christian Reconquest, to its transatlantic migration and establishment in the early years of the Colony, from where it changed in late colonial and post-Independence Latin America, and onto modernity. ^ The study argues that Hispanic Orientalism does not necessarily imply a negative depiction of the Other, a quality associated with the traditional critique of Saidian Orientalism. Neither, does it entirely comply with the positivist approach suggested in the theoretical research of Said’s opponents, like Julia Kushigian. This dissertation also argues that sociopolitical changes and the shift in the discourse of powers, from imperial to non-imperial, had a significant impact of the development of Hispanic Orientalism, shaping the relationship with the Other. The methodology involves close reading of representative texts depicting the interactions of the dominant and dominated societies from each of the four historic periods that coincided with significant sociopolitical transformations in Hispanic society. Through an intercultural approach to literary studies, social history, and religious studies, this project develops an original paradigm of Hispanic Orientalism, derived from the image of the reinvented Semitic Other portrayed in the literary works depicting the relationship between the hegemonic and the subaltern cultures during the Reconquest period in Spain. Then, it traces the turn of the original paradigm towards reinterpretation during its transatlantic migration to Latin America through the analysis of the chronicles and travelogs of the first colonizers and explorers. During the transitional late colonial and early Independence periods Latin America sees a significant change in the discourse of powers, and Hispanic Orientalism reflects this oscillation between the past and the present therough the works of the Latin American authors from the seventeenth to the nineteenth centuries. Finally, once the non-imperial discourse of power established itself in the former Colony, a new modern stage in the development of Hispanic Orientalist paradigm takes place. It is marked by the desire to differentiate itself from the O(o)thers, as manifested in the works of the representatives of Modernism and the Boom.^

Hispanic Orientalism: The Literary Development of a Cultural Paradigm, from Medieval Spain to Modern Latin America

This dissertation offers a novel approach to Hispanic Orientalism, developing a dynamic paradigm from its origins in medieval and Renaissance Iberia during the process of the Christian Reconquest, to its transatlantic migration and establishment in the early years of the Colony, from where it changed in late colonial and post-Independence Latin America, and onto modernity. The study argues that Hispanic Orientalism does not necessarily imply a negative depiction of the Other, a quality associated with the traditional critique of Saidian Orientalism. Neither, does it entirely comply with the positivist approach suggested in the theoretical research of Said’s opponents, like Julia Kushigian. This dissertation also argues that sociopolitical changes and the shift in the discourse of powers, from imperial to non-imperial, had a significant impact of the development of Hispanic Orientalism, shaping the relationship with the Other. The methodology involves close reading of representative texts depicting the interactions of the dominant and dominated societies from each of the four historic periods that coincided with significant sociopolitical transformations in Hispanic society. Through an intercultural approach to literary studies, social history, and religious studies, this project develops an original paradigm of Hispanic Orientalism, derived from the image of the reinvented Semitic Other portrayed in the literary works depicting the relationship between the hegemonic and the subaltern cultures during the Reconquest period in Spain. Then, it traces the turn of the original paradigm towards reinterpretation during its transatlantic migration to Latin America through the analysis of the chronicles and travelogs of the first colonizers and explorers. During the transitional late colonial and early Independence periods Latin America sees a significant change in the discourse of powers, and Hispanic Orientalism reflects this oscillation between the past and the present therough the works of the Latin American authors from the seventeenth to the nineteenth centuries. Finally, once the non-imperial discourse of power established itself in the former Colony, a new modern stage in the development of Hispanic Orientalist paradigm takes place. It is marked by the desire to differentiate itself from the O(o)thers, as manifested in the works of the representatives of Modernism and the Boom.