Cooperative Experience,Organizational Slack and Focal Firms' Value Creation
Song Zhihong1,2, Han Meimei3,Lee Dongmei3
1.Institute of Management and Decision,Shanxi University,Taiyuan 030006,China; 2.School of Economics and Management, Shanxi University,Taiyuan 030006,China; 3.School of Mathematical Sciences,Shanxi University,Taiyuan 030006,China
Abstract：The paper takes the 146 listed companies from January 2008 to June 2013 as focal firms,which involve technical cooperation between related-parties,investigates the impact of organizational slack and cooperative experience on the focal firms' value creation.The empirical results indicate that cooperative experience positively affects value creation,while organizational slack exerts an inverse U-shaped impact on focal firms' value creation,which means that lower or more organizational slack negatively affects focal firms' value creation,and a moderate level of organizational slack has a positive impact on focal firms' value creation.
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2015, 
