How to cite this paper
Aldaas, A. (2021). The effect of firm life cycle on profitability: Evidence from Jordanian firms.Management Science Letters , 11(6), 1919-1926.
Refrences
Adizes, I. (1979), Organizational passages-Diagnosing and treating lifecycle problems of organizations. Organizational Dynamics, 8(1), 3–25
Adizes, I. (1989). Corporate Lifecycles: How and Why Corporations Grow and Die and What to Do About It. Englewood Cliffs, New Jersey: Prentice Hall, 1989.
Ahmad, M.U. & Murray, J. (2019). Understanding the connect between digitalization, sustainability and performance of an organization, International Journal of Business Excellence,17(1), 83–96.
Al Daas, A.; Ahmad, M. U. & Mohammad, S.J. (2020). The dynamics between dividends, financing and investments: Evi-dence from Jordanian companies. International Journal of Financial Research,11(4), 231-240
Almeida, H., Campello M., & Weisbach M. (2004). The cash flow sensitivity of cash. Journal of Finance, 59(4), 1777–1804.
Alzoubi, T. (2019), Firms' Life Cycle Stage and Cash Holding Decisions, Academy of Accounting and Financial Studies Journal, 23(1), 1-8
Anthony, J., & K. Ramesh (1992). Association between accounting performance measures and stock prices: A test of the life cycle hypothesis. Journal of Accounting and Economics, 15(2-3), 203–227.
Black, E. (1998). Life-cycle impacts on the incremental value-relevance of earnings and cash flow measures. Journal of Financial Statement Analysis, 4(1), 40–56.
Bulan, L., Subramanian, N. & Tanlu, L. (2007). On the timing of dividend initiations. Financial Management, 36(4), 31-65.
Chandler, A.D. (1962), Strategy and Structure. MIT Press: Cambridge, MA, USA.
De Angelo, H., De Angelo, L. & Stulz, R. (2006). Dividend policy and the earned/contributed capital mix: A test of the lifecycle theory. Journal of Financial Economics, 81(2), 227-254.
Dickinson, V. (2011). Cash flow patterns as a proxy for firm life-cycle. Accounting Review, 86, 1969–1994.
Faff, R., Kwok, W.C., Podolski, E.J., & Wong, G.J. (2016). Do corporate policies follow a life-cycle?. Journal of Banking & Finance, 69, 95–107.
Fama, E. & French, K. (2001). Disappearing dividends: changing firm characteristics or lower propensity to pay?. Journal of Financial Economics, 60, 3-43.
Gort, M., & S. Klepper (1982). Time paths in the diffusion of product innovation. Economic Journal, 92(367), 630–653.
Hannan, M., & Freeman, J. (1984). Structural inertia and organizational change. American Sociological Review, 49(2), 149–164.
Jawahar, I., & McLaughlin, G. L. (2001). Toward a descriptive stakeholder theory: An organizational life cycle approach. Academy Of Management Review, 26(3), 397-414.
Jensen, M. (1986). The agency costs of free cash flows, corporate finance, and takeovers. American Economic Review,76 (2), 323–329.
Yoo, J., Lee, S., & Park, S. (2019). The effect of firm life cycle on the relationship between R&D expenditures and future performance, earnings uncertainty, and sustainable growth. Sustainability, 11(8), 2371.
Jovanovic, B. (1982). Selection and the evolution of industry. Econometrica, 50 (3), 649–670.
Kazanjian, R. K. (1988). Relation of dominant problems to stages of growth in technology-based new ventures. Academy of Management Journal, 31(2), 257-279.
Koberg, C. S., Uhlenbruck, N., & Sarason, Y. (1996). Facilitators of organizational innovation: The role of life-cycle stage. Journal of Business Venturing, 11(2), 133-149.
Kwon, S.Y. & Moon, B.Y. (2009). Decomposed return on equity, future profitability, and value relevance over the firm life cycle. Korean Management Review, 39, 1231–1249.
La Rocca, M., La Rocca, T. & Cariola, A. (2011). Capital structure decisions during a firm's life cycle. Small Business Economics, 37, 107–130.
Miller, D., & Friesen, P.H. (1984). A longitudinal study of the corporate life cycle. Management Science, 30(10), 1161-1183.
Miller, D., & Friesen, P. H. (1983). Successful and unsuccessful phases of the corporate life cycle. Organization studies, 4(4), 339-356.
Milliman, J., Von Glinow, M.A., & Nathan, M. (1991). Organizational life cycles and strategic international human re-source management in multinational companies: Implications for congruence theory. Academy of Management Review, 16(2), 318-339.
Mostafa, M. H., Hossain, M., Cheung, A., & Habib, A. (2015). Corporate life cycle and cost of equity capital. Journal of Contemporary Accounting & Economics, 11(1), 46-60.
Mueller, D. C., & Yun, S. L. (1998). Rates of return over the firm's lifecycle. Industrial and Corporate Change, 7(2), 347-368.
Myers, S. (1977). Determinants of corporate borrowing, Journal of Financial Economics, 5(2), 147–175.
Opler, T., Pinkowitz, L., Stulz, R., & Williamson, R. (1999). The determinants and implications of corporate cash hold-ings. Journal of Financial Economics, 52(1), 3-46.
Owen, S. & Yamson, A. (2010). Corporate life cycle and M&A activity. Journal of Banking & Finance, 34, 427-440.
Perenyi, Á., Selvarajah, C., & Muthaly, S. (2011). Investigating the firm life-cycle theory on Australian SMEs in the ICT sector. Journal of Asia Entrepreneurship and Sustainability, 7(2), 13-51.
Porter, M. E. (1979). The structure within industries and companies' performance. The Review of Economics and Statis-tics, 61(2), 214-227.
Quinn, R. E., & Cameron, K. (1983), Organizational life cycles and shifting criteria of effectiveness: Some preliminary evidence. Management Science, 29(1), 33-51.
Smith, K. G., Mitchell, T.R., & Summer, C.E. (1985). Top level management priorities in different stages of the organiza-tional life cycle, Academy of Management Journal, 28, 799-820.
Spence, M. (1977). Entry, capacity, investment, and oligopolistic pricing. Bell Journal of Economics, 8(2), 534–544.
Wang, Z., Akbar, M., & Akbar, A. (2020). The Interplay between Working Capital Management and a Firm’s Financial Performance across the Corporate Life Cycle. Sustainability, 12, 1661.
Warusawitharana, M. (2013). Profitability and the Lifecycle of Firms. Working paper. Board of Governors of the Federal Reserve System (available at www.federalreserve.gov/pubs/feds/2012/201263/ )
Yan, Z & Zhao, Y. (2010). A new methodology of measuring corporate life-cycle stages. International Journal of Eco-nomic Perspectives, 4(4), 579-587.
Adizes, I. (1989). Corporate Lifecycles: How and Why Corporations Grow and Die and What to Do About It. Englewood Cliffs, New Jersey: Prentice Hall, 1989.
Ahmad, M.U. & Murray, J. (2019). Understanding the connect between digitalization, sustainability and performance of an organization, International Journal of Business Excellence,17(1), 83–96.
Al Daas, A.; Ahmad, M. U. & Mohammad, S.J. (2020). The dynamics between dividends, financing and investments: Evi-dence from Jordanian companies. International Journal of Financial Research,11(4), 231-240
Almeida, H., Campello M., & Weisbach M. (2004). The cash flow sensitivity of cash. Journal of Finance, 59(4), 1777–1804.
Alzoubi, T. (2019), Firms' Life Cycle Stage and Cash Holding Decisions, Academy of Accounting and Financial Studies Journal, 23(1), 1-8
Anthony, J., & K. Ramesh (1992). Association between accounting performance measures and stock prices: A test of the life cycle hypothesis. Journal of Accounting and Economics, 15(2-3), 203–227.
Black, E. (1998). Life-cycle impacts on the incremental value-relevance of earnings and cash flow measures. Journal of Financial Statement Analysis, 4(1), 40–56.
Bulan, L., Subramanian, N. & Tanlu, L. (2007). On the timing of dividend initiations. Financial Management, 36(4), 31-65.
Chandler, A.D. (1962), Strategy and Structure. MIT Press: Cambridge, MA, USA.
De Angelo, H., De Angelo, L. & Stulz, R. (2006). Dividend policy and the earned/contributed capital mix: A test of the lifecycle theory. Journal of Financial Economics, 81(2), 227-254.
Dickinson, V. (2011). Cash flow patterns as a proxy for firm life-cycle. Accounting Review, 86, 1969–1994.
Faff, R., Kwok, W.C., Podolski, E.J., & Wong, G.J. (2016). Do corporate policies follow a life-cycle?. Journal of Banking & Finance, 69, 95–107.
Fama, E. & French, K. (2001). Disappearing dividends: changing firm characteristics or lower propensity to pay?. Journal of Financial Economics, 60, 3-43.
Gort, M., & S. Klepper (1982). Time paths in the diffusion of product innovation. Economic Journal, 92(367), 630–653.
Hannan, M., & Freeman, J. (1984). Structural inertia and organizational change. American Sociological Review, 49(2), 149–164.
Jawahar, I., & McLaughlin, G. L. (2001). Toward a descriptive stakeholder theory: An organizational life cycle approach. Academy Of Management Review, 26(3), 397-414.
Jensen, M. (1986). The agency costs of free cash flows, corporate finance, and takeovers. American Economic Review,76 (2), 323–329.
Yoo, J., Lee, S., & Park, S. (2019). The effect of firm life cycle on the relationship between R&D expenditures and future performance, earnings uncertainty, and sustainable growth. Sustainability, 11(8), 2371.
Jovanovic, B. (1982). Selection and the evolution of industry. Econometrica, 50 (3), 649–670.
Kazanjian, R. K. (1988). Relation of dominant problems to stages of growth in technology-based new ventures. Academy of Management Journal, 31(2), 257-279.
Koberg, C. S., Uhlenbruck, N., & Sarason, Y. (1996). Facilitators of organizational innovation: The role of life-cycle stage. Journal of Business Venturing, 11(2), 133-149.
Kwon, S.Y. & Moon, B.Y. (2009). Decomposed return on equity, future profitability, and value relevance over the firm life cycle. Korean Management Review, 39, 1231–1249.
La Rocca, M., La Rocca, T. & Cariola, A. (2011). Capital structure decisions during a firm's life cycle. Small Business Economics, 37, 107–130.
Miller, D., & Friesen, P.H. (1984). A longitudinal study of the corporate life cycle. Management Science, 30(10), 1161-1183.
Miller, D., & Friesen, P. H. (1983). Successful and unsuccessful phases of the corporate life cycle. Organization studies, 4(4), 339-356.
Milliman, J., Von Glinow, M.A., & Nathan, M. (1991). Organizational life cycles and strategic international human re-source management in multinational companies: Implications for congruence theory. Academy of Management Review, 16(2), 318-339.
Mostafa, M. H., Hossain, M., Cheung, A., & Habib, A. (2015). Corporate life cycle and cost of equity capital. Journal of Contemporary Accounting & Economics, 11(1), 46-60.
Mueller, D. C., & Yun, S. L. (1998). Rates of return over the firm's lifecycle. Industrial and Corporate Change, 7(2), 347-368.
Myers, S. (1977). Determinants of corporate borrowing, Journal of Financial Economics, 5(2), 147–175.
Opler, T., Pinkowitz, L., Stulz, R., & Williamson, R. (1999). The determinants and implications of corporate cash hold-ings. Journal of Financial Economics, 52(1), 3-46.
Owen, S. & Yamson, A. (2010). Corporate life cycle and M&A activity. Journal of Banking & Finance, 34, 427-440.
Perenyi, Á., Selvarajah, C., & Muthaly, S. (2011). Investigating the firm life-cycle theory on Australian SMEs in the ICT sector. Journal of Asia Entrepreneurship and Sustainability, 7(2), 13-51.
Porter, M. E. (1979). The structure within industries and companies' performance. The Review of Economics and Statis-tics, 61(2), 214-227.
Quinn, R. E., & Cameron, K. (1983), Organizational life cycles and shifting criteria of effectiveness: Some preliminary evidence. Management Science, 29(1), 33-51.
Smith, K. G., Mitchell, T.R., & Summer, C.E. (1985). Top level management priorities in different stages of the organiza-tional life cycle, Academy of Management Journal, 28, 799-820.
Spence, M. (1977). Entry, capacity, investment, and oligopolistic pricing. Bell Journal of Economics, 8(2), 534–544.
Wang, Z., Akbar, M., & Akbar, A. (2020). The Interplay between Working Capital Management and a Firm’s Financial Performance across the Corporate Life Cycle. Sustainability, 12, 1661.
Warusawitharana, M. (2013). Profitability and the Lifecycle of Firms. Working paper. Board of Governors of the Federal Reserve System (available at www.federalreserve.gov/pubs/feds/2012/201263/ )
Yan, Z & Zhao, Y. (2010). A new methodology of measuring corporate life-cycle stages. International Journal of Eco-nomic Perspectives, 4(4), 579-587.