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Is Public Ownership Bad for Professional Service Firms? Ad Agency Ownership, Performance, and Creativity
Andrew Von Nordenflycht
The Academy of Management Journal
Vol. 50, No. 2 (Apr., 2007), pp. 429-445
Published by: Academy of Management
Stable URL: http://www.jstor.org/stable/20159862
Page Count: 17
You can always find the topics here!Topics: Professional services, Public ownership, Business structures, Collaboration, Ownership incentives, Revenue, Human capital, Creativity, Advertising industry, Professional associations
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Does public ownership create negative consequences for professional service firms by reducing employee incentives? This question was addressed with a panel of advertising agencies. Public ownership was associated with inferior performance for small agencies but not for large agencies, and there was no association between ownership and agency creativity, indicating that public ownership did not preclude agencies from competing with strategies requiring highly skilled professionals. The results challenge existing theories about the ownership of professional service firms.
The Academy of Management Journal © 2007 Academy of Management