| 1. |
- Anokhin, Sergey, et al.
(författare)
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Corporate venturing deal syndication and innovation : the information exchange paradox
- 2011
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Ingår i: Long range planning. - : Elsevier BV. - 0024-6301 .- 1873-1872. ; 44:2, s. 134-151
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Tidskriftsartikel (refereegranskat)abstract
- Many incumbent corporations make equity investments in young technological start-ups to enhance their innovation effectiveness, and the great majority syndicate at least some of their investments with other incumbents. While syndication is generally held to benefit incumbent corporations, this study demonstrates that it may also be detrimental to corporate innovation, by elaborating the notion of an information exchange paradox - essentially, that information exchanges within CVC networks must, somehow, be both open and closed at the same time. Corporations must try to appropriate the knowledge championed by their investees and fellow-investors, but also protect their own know-how from leaking to competitors. Unlike prior CVC research, we demonstrate that knowledge sharing in open innovation forums may be counterproductive. Using a unique data set of the investment decisions made by 163 corporations over four years we show that, for some, participating in syndicate networks may involve losses that outweigh their gains. Our analysis establishes two key findings. First, corporations need to consider the trade-off between the number of ventures they support and the position they take in their syndication networks. The best strategies appear to be maximizing isolationist (supporting many ventures but staying away from the network centre) or minimizing centralist (supporting few ventures, but occupying a central network position) - the other two options (maximizing centralist and minimizing isolationist strategies) are far less effective in converting CVC investments into corporate innovation. Second, this picture is particularly applicable to highly concentrated industries dominated by several powerful incumbents: in fragmented industries these strategy differences are far less pronounced, so the choice of CVC syndication strategy will depend on other considerations. This supports a contingency view of syndication, implying that ensuring incumbent corporations really benefit from equity investments in start-ups is a not a trivial task for their managers
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| 2. |
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| 3. |
- Anokhin, Sergey, et al.
(författare)
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Risky information exchange : how network position can cause difficulties for corporate innovation
- 2009
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Ingår i: Proceedings of the Twenty-ninth Annual Entrepreneurship Research Conference.
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Konferensbidrag (refereegranskat)abstract
- To enhance innovation effectiveness, many incumbent corporations make equity investments in young technological startups. Four out of five corporate investors syndicate at least some of their investments with other incumbents. While syndication practices may be beneficial to incumbent corporations, in this study we elaborate on the notion of information exchange paradox to demonstrate that syndication may be detrimental to corporate innovation. Using a unique data set of investment decisions of 163 corporations over four years, we show that for some corporations the losses of participating in syndicate networks may outweigh the gains. In particular, we demonstrate that syndication network centrality negatively moderates the ability of a corporation to benefit from its investments. We also show that the effect is particularly strong in highly concentrated industries but is virtually non-existent in industries with low concentration. This supports a contingency view of syndication and implies that benefiting from equity investments in startups is a non-trivial task for managers of incumbent corporations.
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| 4. |
- Arbuthnott, Andrew, 1981-, et al.
(författare)
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Entrepreneurial initiatives as threats : how seasoned industry actors hinder regional restructuring
- 2009
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Ingår i: 54th International Council for Small Business World Conference. - Seoul, Korea : ICSB.
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Konferensbidrag (övrigt vetenskapligt/konstnärligt)abstract
- The aim of this paper was to further understanding of regional restructuring and revitalisation by illustrating how opportunities for regional renewal may be reduced by rigid threat responses by a region’s established actors within declining industries. In an inductive case study of new biorefinery industry initiatives in a region where traditional forestry industries were in decline, we outline how new industry players that created new ways of using existing resources sparked rigid threat responses among established actors. When seasoned industry actors framed new industry initiatives as threats, they responded by (a) reducing new industry actors’ possibilities for new business development, (b) engaging in entrenched resistance, (c) creating collaborative illusions, and (d) undermining the fundamentals of the new industry. Our study contributes to literature by applying the threat-rigidity thesis on a regional level and by illustrating that conflicting behaviours between new and established industry actors can make restructuring and revitalisation problematic.
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| 5. |
- Arbuthnott, A., et al.
(författare)
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Reduced opportunities for regional renewal : The role of rigid threat responses
- 2011
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Ingår i: Entrepreneurship and Regional Development. - : Informa UK Limited. - 0898-5626 .- 1464-5114. ; 23:7-8, s. 603-635
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Tidskriftsartikel (refereegranskat)abstract
- This article illustrates how opportunities for regional renewal in a peripheral region may be reduced by rigid threat responses undertaken by established firms operating within traditional regional industry. In an inductive case study of new biorefinery industry initiatives in a region where traditional pulp-and-paper and forestry industry was in decline, we used primary and secondary data to outline how a set of new industry players who created innovative ways of using existing regional infrastructures and resources sparked rigid threat responses among established firms from the struggling traditional industry. Established industry firms framed new industry initiatives as threats, and responded by (1) reducing new industry actors' possibilities for new business development, (2) engaging in entrenched resistance, (3) creating collaborative illusions and (4) undermining the fundamentals of the new industry. Consequently, this study contributes to existing literature by proposing the potential of applying the threat-rigidity thesis on a regional level. This is achieved by illustrating that conflicting behaviours between new and established regional industry actors constrain opportunities for regional renewal in a peripheral region. As such, relevant directions for future research and policy implications are outlined
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| 6. |
- Arbuthnott, Andrew, et al.
(författare)
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Reduced opportunities for regional renewal : The role of rigid threat responses among a region's established firms
- 2011
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Ingår i: Entrepreneurship and Regional Development. - : Routledge. - 0898-5626 .- 1464-5114. ; 23:7-8, s. 603-635
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Tidskriftsartikel (refereegranskat)abstract
- This article illustrates how opportunities for regional renewal in a peripheral region may be reduced by rigid threat responses undertaken by established firms operating within traditional regional industry. In an inductive case study of new biorefinery industry initiatives in a region where traditional pulp-and-paper and forestry industry was in decline, we used primary and secondary data to outline how a set of new industry players who created innovative ways of using existing regional infrastructures and resources sparked rigid threat responses among established firms from the struggling traditional industry. Established industry firms framed new industry initiatives as threats, and responded by (1) reducing new industry actors' possibilities for new business development, (2) engaging in entrenched resistance, (3) creating collaborative illusions and (4) undermining the fundamentals of the new industry. Consequently, this study contributes to existing literature by proposing the potential of applying the threat-rigidity thesis on a regional level. This is achieved by illustrating that conflicting behaviours between new and established regional industry actors constrain opportunities for regional renewal in a peripheral region. As such, relevant directions for future research and policy implications are outlined.
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| 7. |
- Bergh, Pontus, 1976-, et al.
(författare)
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Entrepreneurs learning together : the importance of building trust for learning and exploiting business opportunities
- 2011
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Ingår i: The International Entrepreneurship and Management Journal. - : Springer Science. - 1554-7191 .- 1555-1938. ; 7:1, s. 17-37
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Tidskriftsartikel (refereegranskat)abstract
- This longitudinal, qualitative case study examines trust-building processes and learning outcomes among entrepreneurs who participated in formal networks designed to develop competence and knowledge. This study is built on rich data collected through observation and video recordings made during network meetings and get-togethers. Additional data was gleaned from personal interviews with participating entrepreneurs. All data sources reveal on how trust develops and how entrepreneurs can use networks to learn and improve their capacity to exploit business opportunities. Studying how trust is built over time among entrepreneurs who demonstrate a low level of trust when they join the network, this study provides insights into micro-processes and important components of building trust. Findings suggest three processes that build commitment, companionship, and competence trust. Moreover, acknowledging the notion of social learning, the findings suggest that when entrepreneurs build trust with one another they can experience cognitive, emotional, and social changes by participating in a network. This may bring potential consequences for their exploiting opportunities. Implications for academics and managers are discussed.
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| 8. |
- Bergh, Pontus, 1976-, et al.
(författare)
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Entrepreneurs learning together : The importance of building trust for learning and exploiting business opportunities
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Annan publikation (populärvet., debatt m.m.)abstract
- This longitudinal, qualitative case study examines trust-building processes and learning outcomes among entrepreneurs who participated in formal networks designed to develop competence and knowledge. This study is built on rich data collected through observation and video recordings made during network meetings and get-togethers. Additional data was gleaned from personal interviews with participating entrepreneurs. All data sources reveal on how trust develops and how entrepreneurs can use networks to learn and improve their capacity to exploit business opportunities. Studying how trust is built over time among entrepreneurs who demonstrate a low level of trust when they join the network, this study provides insights into micro-processes and important components of building trust. Findings suggest three processes that build commitment, companionship, and competence trust. Moreover, acknowledging the notion of social learning, the findings suggest that when entrepreneurs build trust with one another they can experience cognitive, emotional, and social changes by participating in a network. This may bring potential consequences for their exploiting opportunies. Implications for academics and managers are discussed.
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| 9. |
- Bergh, Pontus, 1976-, et al.
(författare)
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Trust and self-efficacy in formal learning networks : the effects on entrepreneurs’ capacity to act upon business opportunities
- 2012
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Ingår i: International Journal of Innovation and Learning. - : Inderscience. - 1471-8197 .- 1741-8089. ; 12:2
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Tidskriftsartikel (refereegranskat)abstract
- In efforts to promote better realization of business opportunities, government support of formal policy led learning networks among entrepreneurs has been a popular approach world-wide. This article uses survey data from 109 entrepreneurs who took part in formal learning networks to examine how trust in network partners influences the capacity to act upon business opportunities for entrepreneurs. Further, we examine how this influence is moderated by the entrepreneurs’ own self-efficacy. Our results support a positive relationship between developing trust in other networking entrepreneurs and the capacity to act upon business opportunities. Self-efficacy was found to moderate this relationship. For entrepreneurs with low self-efficacy, results support an inverted U-shaped relationship, with the greatest outcomes reached with an intermediate level of trust. For entrepreneurs with high self-efficacy, a positive linear relationship is supported. We discuss implications for further research on trust and realization of opportunities, and for learning network policy.
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| 10. |
- Frishammar, Johan, et al.
(författare)
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The Telephone Game, or Clear as Crystal? How to Effectively Craft Responses to Reviewer Comments
- 2018
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Ingår i: Creativity and Innovation Management. - : John Wiley & Sons. - 0963-1690 .- 1467-8691. ; 27:3, s. 239-243
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Tidskriftsartikel (refereegranskat)abstract
- This brief note focuses on how to communicate with reviewers through the response letter. Specifically, we elaborate on how to minimize the risk that reviewers underestimate the quality of the study because of poor communication in the response letter. We outline ideas for how to plan and organize a revision, and then crafting the response letter. We organize the discussion around how common writing rules, such as “Make it simple to read” and “Write for the target audience”, may apply to response letters but need adaptation to be effective. In summary, while the changes made in the actual paper are most important in any revision, this note provides an additional resource to use in order to increase the chances that the revised paper reaches its greatest potential.
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