Strategic Investment Decision Processes and Organizational Performance: An Empirical Examination
实证检验了战略投资决策过程的特征与组织绩效之间的关系，发现更理性的决策过程、更多财务报告活动和更广泛的参与与更高绩效相关，且长期绩效与决策过程的关系更强。
The central question that this paper aims to answer is whether there is a relationship between organizational performance and the characteristics of strategic investment decision (SID) processes. To do so, it adopts an empirically derived nine‐dimensional framework for classifying SID processes and employs a set of objective and perceptual measures of performance. The empirical results stemming from the process‐performance relationship, suggest that higher performance is strongly related to more rational decision‐making processes (DMPs); more financial reporting activities; broader participation both in terms of departments and in terms of hierarchical levels. Furthermore, our data suggest that long‐term performance appears to be more strongly related to SID processes than short‐term performance and the ‘structural’ characteristics of the DMPs (i.e. rationality, financial reporting) are mainly related to long‐term objective performance, while such ‘behavioural’ characteristics of the DMPs, as problem‐solving dissension, reveal some interesting associations with short‐term performance. In light of these findings, implications for theory and future research are advanced