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Corporate asset deployment strategie...

Cohee, Garrett Lane.

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Corporate asset deployment strategies during market contractions: A defense sector analysis.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Corporate asset deployment strategies during market contractions: A defense sector analysis./
Author:	Cohee, Garrett Lane.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2017,
Description:	125 p.
Notes:	Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.
Contained By:	Dissertation Abstracts International78-08A(E).
Subject:	Management. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10585605
ISBN:	9781369645552

Corporate asset deployment strategies during market contractions: A defense sector analysis.
Cohee, Garrett Lane.

Corporate asset deployment strategies during market contractions: A defense sector analysis. - Ann Arbor : ProQuest Dissertations & Theses, 2017 - 125 p.

Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.

Thesis (E.D.B.A.)--Rollins College, 2017.

This study investigates the relationship between corporate asset deployment strategies and firm performance in the presence of contracting markets and assesses those strategies having the greatest performance impact. Leveraging two categories of firms (high and low recessionary exposure) within the defense industry during the 2011 to 2015 defense market contraction, various retrenchment, investment, and combined strategies were assessed against firm performance. Correlation and multivariate regression analysis was performed within a longitudinal design to assess five primary and two moderator hypotheses.

ISBN: 9781369645552Subjects--Topical Terms:

516664
Management.

Corporate asset deployment strategies during market contractions: A defense sector analysis.
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100 1 $a Cohee, Garrett Lane. $3 3351505
245 1 0 $a Corporate asset deployment strategies during market contractions: A defense sector analysis.
260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2017
300 $a 125 p.
500 $a Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.
500 $a Adviser: Bob Prescott.
502 $a Thesis (E.D.B.A.)--Rollins College, 2017.
520 $a This study investigates the relationship between corporate asset deployment strategies and firm performance in the presence of contracting markets and assesses those strategies having the greatest performance impact. Leveraging two categories of firms (high and low recessionary exposure) within the defense industry during the 2011 to 2015 defense market contraction, various retrenchment, investment, and combined strategies were assessed against firm performance. Correlation and multivariate regression analysis was performed within a longitudinal design to assess five primary and two moderator hypotheses.
520 $a The study offers three significant findings expanding the body of research. First, distinctly different patterns emerge when comparing those firms having high levels of defense/recessionary exposure to those firms having lower levels. Firm performance amongst the high exposure group is most related to the generation of free cash flow and dividend payouts, whereas firm performance amongst the low exposure group is most related to capital investment. Second, the importance of capital investment changes during different phases of the recessionary period. High defense exposure firms significantly reduced capital investment levels in favor of returning cash to the shareholder during the early phase of the contraction. However, during the latter phase of the contraction, capital investment levels increased, trending closely with overall performance. Conversely, those firms having low defense exposure did not demonstrate as strong a relationship between free cash flow and performance. Instead, their use of cash for capital investment purposes was consistently associated with firm performance throughout the recessionary window. Finally, the direct contribution of merger and acquisition (M&A) and divestiture activities to firm performance was quite modest and actually tended to negatively impact performance. This suggests that more importance should be attached to generation of cash, payouts, and organic capital investment strategies. These findings may be further assessed in future research by extending the analysis into other industries and recessionary periods.
520 $a Because market contractions reflect very real and often deleterious conditions for business leaders, guidance is necessary for these leaders to survive and grow the firm. Through the assessment of specific asset deployment strategies and their resultant effectiveness, this analysis advances the body of knowledge and is applicable to both theory and practice.
590 $a School code: 1948.
650 4 $a Management. $3 516664
650 4 $a Military studies. $3 2197382
690 $a 0454
690 $a 0750
710 2 $a Rollins College. $3 3351506
773 0 $t Dissertation Abstracts International $g 78-08A(E).
790 $a 1948
791 $a E.D.B.A.
792 $a 2017
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10585605