| 1. |
- Antretter, Torben, et al.
(författare)
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Do Algorithms Make Better - and Fairer - Investments Than Angel Investors?
- 2020
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Ingår i: Harvard Business Review. - : Harvard Business Publishing. - 0017-8012.
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Tidskriftsartikel (övrigt vetenskapligt/konstnärligt)abstract
- Can an algorithm outperform the average angel investor? And if it can, does that also mean it will make less biased investments? Researchers put these questions to the test: They built an investing algorithm and put it head to head with 255 angel investors in a simulation, asking it to select the most promising investment opportunities among 623 deals from one of the largest European angel networks. The results? The algorithm significantly outperformed the average novice investor and even experienced investors who fell prey to cognitive biases, but was bested by the top tier of experienced investors, who could control for their own biases. While the algorithm may have made less biased choices when it came to the race and gender of the founders it picked, it also reflected systemic inequalities, and illustrated the limits of how algorithmic investing can be used to address deep social inequalities. Even so, the experiment offers a vision for how — and when — investors might deploy similar algorithmic aids in their investing, and how it might lead to better and fairer decisions.
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| 2. |
- Cantù, Chiara, et al.
(författare)
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The role of knowledge intermediaries in co-managed innovations
- 2015
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Ingår i: Journal of business & industrial marketing. - 0885-8624 .- 2052-1189. ; 30:8, s. 951-961
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Tidskriftsartikel (refereegranskat)abstract
- Purpose– The purpose of this paper is to investigate how technological hubs (THs), defined as knowledge intermediaries, can assist companies in creating successful partnerships to develop innovations. Specifically, the authors ask how THs can help firms connect with horizontal networks and how THs can assist firms on finding suppliers and customers from the vertical network with whom to collaborate. By answering these two main questions, the paper sheds light on the important role of THs and its incubators as knowledge intermediaries in innovation co-creation. Design/methodology/approach– The research is founded on a longitudinal case study of an Italian technologic hub, ComoNExT, that aims to improve the competitiveness of its local economy. Specific attention is given to the role of the incubator that was formed as a joint effort in the technology hub. Findings– The authors find that THs can facilitate networking among tenants and among tenants and external actors within the same epistemic network. The TH that the authors studied is characterized by a new business model that is founded on providing value-added services and networking. The TH sustains the networking at different levels: within tenants, with local actors, extra-local and international actors. The authors’ analysis suggest that THs become knowledge intermediaries who allow firms to identify innovation parties and transform them into innovation partners and, thus, outline the shift from outsourced innovation to co-managed innovation. Originality/value– The paper shows how knowledge intermediaries facilitate the intermediation between heterogeneous organizations who are located at different network positions and characterized by relational proximity that is the basis for reaching effective innovation. The research depicts how knowledge intermediaries reinforce the drivers of a co-membership network to co-create innovation to improve the strength of a relationship characterized by a shared vision.
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| 3. |
- Hakala, Henri, et al.
(författare)
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Entrepreneurial Orientation and International New Entry : The Moderating Role of Autonomy and Structures in Subsidiaries
- 2016
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Ingår i: Journal of small business management (Print). - : Informa UK Limited. - 0047-2778 .- 1540-627X. ; 54:Suppl. 1, s. 90-112
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Tidskriftsartikel (refereegranskat)abstract
- We study how the entrepreneurial orientation (EO) of subsidiaries influences international initiativesnew entries originating from a subsidiary that go beyond the local environment of the subsidiary. Building on structural contingency theory, we expect to find that the effect of EO is contingent on the structural conditions of decision-making autonomy and the subsidiary decision-making structure. Our results from 294 subsidiaries confirm that decision-making autonomy and internal structures are important boundary conditions delimiting the effectiveness of EO in terms of international new entry. Although autonomy is highly important for international new entries, when it is restricted, formal rather than organic structures benefit new-entry initiatives.
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| 4. |
- Malmström, Malin, et al.
(författare)
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A Meta-Analysis of the Impact of Entrepreneurs’ Gender on their Access to Bank Finance
- 2024
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Ingår i: Journal of Business Ethics. - : Springer Nature. - 0167-4544 .- 1573-0697. ; 192, s. 803-820
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Tidskriftsartikel (refereegranskat)abstract
- This meta-analysis of 31 studies over 20 years advances our understanding of the gender gap in entrepreneurial bank finance. Findings from previous research on the relationship between entrepreneurs’ gender and bank financing are mixed, which suggests the need to pay particular attention to entrepreneurs’ social context. In this study, we develop a model of how social gender norms explain variation in women entrepreneurs’ (vis-à-vis men entrepreneurs’) access to bank finance. Specifically, we theorize how women’s formal (their nations’ political ideologies) and informal (women’s empowerment) social standing within their societies influence gender discrimination in entrepreneurial bank financing. Consistent with most previous studies, our baseline results show that women entrepreneurs’ business loan applications are rejected to a greater extent than men entrepreneurs’ loan applications. Women entrepreneurs also pay higher interest rates on loans than men entrepreneurs. Further, in societies dominated by a conservative (rather than a liberal) political ideology, the positive relationship between women entrepreneurs and loan interest rates is more positive. Interestingly, gender discrimination in loan rejection and interest rates is magnified in societies with greater women’s empowerment. Taking a social gender-norm perspective, our analysis establishes a gender gap in entrepreneurial bank finance, and we outline an agenda for further research.
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| 5. |
- Nordström, Carin, 1971-, et al.
(författare)
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Passion in hybrid entrepreneurship : the impact of entrepreneurial teams and tenure
- 2016
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Ingår i: Baltic Journal of Management. - 1746-5265 .- 1746-5273. ; 11:2, s. 167-186
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Tidskriftsartikel (refereegranskat)abstract
- Purpose – The present study draws on the theory of choice overload to examine how entrepreneurial tenure and involvement in entrepreneurial teams influence passion for engaging in entrepreneurship.Design/methodology/approach – A survey was administered to 262 Swedish hybrid entrepreneurs, which refers to individuals who engage in entrepreneurship while also maintaining wage work; this arrangement is becoming more and more common in the Nordic economies. Hypotheses proposed associations between the entrepreneurial tenure (the length of engagement in the side business) and entrepreneurial teams (leading the business with one or more team members) with passion for entrepreneurship. Logistic regression was used to test the hypotheses.Findings – Results from logistic regression support the hypotheses with three findings: 1) the longer the individual has had the side business, the less likely passion to be the main motive behind entrepreneurship; 2) passion is less likely to be the main motive behind entrepreneurship among those who are part of an entrepreneurial team, and 3) involvement in an entrepreneurial team strengthens the negative association between entrepreneurial tenure and passion for entrepreneurship.Research limitations/implications – The data are limited to the creative sector in Sweden and to the hybrid entrepreneurship context.Practical implications – The results support the impact of choice overload and the notions that entrepreneurship passion will decrease the longer the business is up running and if the venturing occurs with another team member. In practice,this means that interventions for re-kindling passion in entrepreneurship should focus on dealing with choice overload under conditions of long-term tenure and team-funded ventures. If entrepreneurswant tomaintain high levels of passion, quick and isolated entrepreneurial processes reduce the choice overload that may threaten maintaining a high passion for entrepreneurship.Originality/value – This study is the first to apply choice theory to an entrepreneurship context and to find support for possible negative effects of choice overload on passion for entrepreneurship.
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| 6. |
- Sirén, Charlotta A., et al.
(författare)
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Exploration and exploitation strategies, profit performance, and the mediating role of strategic learning : Escaping the exploitation trap
- 2012
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Ingår i: Strategic Entrepreneurship Journal. - : Wiley. - 1932-4391 .- 1932-443X. ; 6:1, s. 18-41
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Tidskriftsartikel (refereegranskat)abstract
- This study focuses on the role of strategic learning as a mediating construct between opportunity-seeking (exploration) and advantage-seeking (exploitation) strategies and profit performance. Prior studies argue that the effect of these core elements of strategic entrepreneurship (exploration and exploitation) cannot be fully captured through their direct effects on profit performance, but that this relationship consists of mediating factors. This study proposes that the process of strategic learning, through its intraorganizational elements that enable the dissemination, interpretation, and implementation of strategic knowledge, enables firms to capitalize on the benefits of both exploration and exploitation strategies. Results from 206 Finnish software firms indicate that strategic learning fully mediates the relationship between exploration, exploitation, and profit performance. The result contributes by stressing the importance of strategic learning processes, especially in conjunction with entrepreneurial exploration strategies. Furthermore, the study demonstrates that the effect from exploration to strategic learning is moderated by the level of exploitation. This moderation effect suggests that the strategic learning is limited, being a path dependent capability that favors exploitation over exploration when stretched. However, strategic learning effectively allows both types of strategies to improve profit performance
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| 7. |
- Sirén, Charlotta A., et al.
(författare)
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How do harmonious passion and obsessive passion moderate the influence of a CEO's change-oriented leadership on company performance?
- 2016
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Ingår i: Leadership Quarterly. - : Elsevier BV. - 1048-9843 .- 1873-3409. ; 27:4, s. 653-670
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Tidskriftsartikel (refereegranskat)abstract
- This study focuses upon CEOs' change-oriented leadership, CEOs' passion, and firm performance. Using survey data collected from 80 CEOs, and 163 followers working closely with the CEO, and archival longitudinal firm performance data (2010–2013), we find support for the presence of change-oriented leadership having a direct effect on firm performance. Furthermore, we find that CEOs with harmonious passion strengthen relationship between change-oriented leadership and firm performance. In contrast, firms with change-oriented CEOs that embody obsessive passion do not benefit from higher firm performance. These findings extend the relationship between change-oriented leadership, firm performance, and the nature of the leader's passion in the context of strategic change leadership. We also discuss the implications of our research for leadership literature.
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| 8. |
- Sirén, Charlotta A., et al.
(författare)
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Stretching strategic learning to the limit : The interaction between strategic planning and learning
- 2016
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Ingår i: Journal of Business Research. - : Elsevier BV. - 0148-2963 .- 1873-7978. ; 69:2, s. 653-663
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Tidskriftsartikel (refereegranskat)abstract
- This study sets out to analyze the potential performance benefits of the interaction between strategic planning and strategic learning processes. First, this study analyzes whether strategic learning positively moderates the relationship between strategic planning and firm performance. Second, extending the literature on the limitations of firm-level learning capabilities, the nonlinear interaction between strategic planning and learning is examined. Results from 182 small and medium-sized software firms, including pre- and post-performance measures, indicate that strategic learning positively moderates the relationship between strategic planning and performance. Furthermore, the study reveals that the moderating effect of strategic learning is nonlinear (represented by an inverted U-shape). Low to medium levels of learning offer an important mechanism to enhance the positive performance benefits derived from planning. However, at higher levels of learning, the interaction between learning and planning on performance becomes negative, suggesting that knowledge overload can expose the limitations of the learning process.
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| 9. |
- Sirén, Charlotta, et al.
(författare)
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Breaking the Routines : Entrepreneurial Orientation, Strategic Learning, Firm Size, and Age
- 2017
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Ingår i: Long range planning. - : Elsevier. - 0024-6301 .- 1873-1872. ; 50:2, s. 145-167
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Tidskriftsartikel (refereegranskat)abstract
- Drawing upon prior research suggesting inertia prevents organizations from learning, we suggest that the relationship between entrepreneurial orientation (EO) and strategic learning (SL) is not as straightforward and linear as has been suggested. The size and age of an organization, considered indicators of inertia, are important factors affecting how EO contributes to the components of SL. Data from 182 software companies confirm the non-linear relationships between EO and the dissemination, interpretation, and implementation components of SL. The results also indicate that the U-shaped association between EO and specific components of SL is more pronounced for larger and established companies than for younger and smaller ones. These findings depart from previous work based on strategic learning from mistakes, and offer a specific understanding of the relationship between EO and the four distinct components of SL. These results suggest that companies should opt to facilitate the individual components of SL as they are affected differently depending on the level of EO, and the age and size of the organization.
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| 10. |
- Sirén, Charlotta, et al.
(författare)
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CEO burnout, managerial discretion, and firm performance : The role of CEO locus of control, structural power, and organizational factors
- 2018
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Ingår i: Long range planning. - : Elsevier. - 0024-6301 .- 1873-1872. ; 51:6, s. 953-971
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Tidskriftsartikel (refereegranskat)abstract
- Despite the possibility of burnout resulting from dynamics in firms' upper echelons, little if any work has focused on chief executive officer's (CEO's) burnout and firm performance. Drawing on managerial discretion theory, this article analyzes the influence of CEO burnout on firm performance and the moderating roles of the individual (CEO locus of control), structural power (CEO duality and CEO tenure), and organizational characteristics (size, age, and resource availability) related to managerial discretion. Using a sample of 156 CEOs in Swedish firms, we find a negative association between CEOs who report higher burnout and firm performance. Our results confirm that CEO duality and resource availability ameliorate and firm size exacerbates the negative association between CEO burnout and firm performance. Contrary to our expectations, CEO locus of control, CEO tenure, and firm age do not influence this relationship. We discuss the implications of our research for upper echelons theory and strategic leadership theory.
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