| 1. |
- Ström, Viktor, 1992, et al.
(författare)
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Making an M&A work: equal strategic partnerships smooth the path
- 2024
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Ingår i: Journal of Business Strategy. - : Emerald Group Publishing Limited. - 0275-6668 .- 2052-1197. ; 45:2, s. 142 - 150
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: By providing equal weight to buyers and sellers, the purpose of this paper is to enhance our understanding of the determinants underlying successful mergers and acquisitions (M&As) involving a specific segment of firms involved in such undertakings, i.e., knowledge-intensive innovative and entrepreneurial (KIE) firms. Design/methodology/approach: A multiple case study, based on eight semi-structured interviews with CEOs representing acquirers and the acquired firms, investigates the focal phenomenon this study addresses. Findings: The results suggest that knowledge-intensive, innovative and entrepreneurial firms promote entrepreneurial intentions and allow value creation of M&As through four overarching measures. These are buyer–seller fit, aligned incentives, long-term thinking and perpetual alliance. Research limitations/implications: The outcomes of this research may have limited generalizable due to the chosen research methodology. Therefore, this study recommends future studies testing the validity of these findings. Practical implications: The authors have clarified the drawbacks of integration when being involved in M&As with KIE firms. These drawbacks primarily revolved around not eliminating the entrepreneurs’ autonomy and their routines, but it is also partly related to letting them keep their identity (i.e. their brand) as well as retaining employees’ trust in the new owner. Originality/value: Contrary to most papers, this study has taken an approach giving equal weight to both buyers and sellers. In doing so, this study clarified the drawbacks of integration when it involves M&As with KIE firms.
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| 4. |
- Braunerhjelm, Pontus, 1953-, et al.
(författare)
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Climate change, complexity, and policy design
- 2023
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Ingår i: Oxford review of economic policy. - : Oxford University Press. - 0266-903X .- 1460-2121. ; 39:4, s. 667-679
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Tidskriftsartikel (refereegranskat)abstract
- The challenges of combatting climate change are unprecedented and now very urgent. Current approaches are not working fast enough. This paper, and this journal issue, conceive of the challenge as one of non-marginal structural and institutional change. Several different conceptual frameworks and pluralist theories are considered, emanating from complexity theory, economics, natural sciences, political economy, and strategy. These are deployed to identify potential accelerators, including synergies between climate action and other key political issues, and beneficial non-linear dynamics such as shifts in consumer preferences and technology learning curves. The delays in action also mean that removing carbon dioxide from the atmosphere is now necessary, and even unconventional geoengineering approaches may need to be considered. A pluralist and practical approach to climate action, accounting for different institutional and social contexts across countries, is argued to be required to accelerate action. © The Author(s) 2023.
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| 5. |
- Braunerhjelm, Pontus, 1953-, et al.
(författare)
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Employees' entrepreneurial human capital and firm performance
- 2023
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Ingår i: Research Policy. - : Elsevier. - 0048-7333 .- 1873-7625. ; 52:2
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Tidskriftsartikel (refereegranskat)abstract
- We introduce a new measure of human capital, defined as employees' former involvement in entrepreneurship. Such entrepreneurial human capital (EHC) complements traditional human capital measures accumulated through work experience and education. Using detailed longitudinal register data, we track the previous years of entrepreneurial experience for the population of employees in Swedish private sector firms. We provide evidence that higher EHC among employees is associated with significantly higher levels of firm productivity. The baseline result implies that a 10 % increase in employees being former entrepreneurs increases firm-level productivity by 3.9 %. Additionally, we provide evidence that heterogeneity in employees' previous entrepreneurial experience (e.g., the reason for entering and exiting entrepreneurship, type of venture, length of entrepreneurial experiences, and relatedness of technology) influences the impact of EHC on productivity. The results are shown to be robust to various estimation techniques, alternative definitions of EHC, and other performance measures. © 2022 The Authors
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| 6. |
- Braunerhjelm, Pontus, 1953-, et al.
(författare)
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Entreprenöriellt humankapitaloch produktivitet
- 2023
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Ingår i: Ekonomisk Debatt. - : Nationalekonomiska föreningen. - 0345-2646. ; 51:5
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Tidskriftsartikel (övrigt vetenskapligt/konstnärligt)abstract
- Vi introducerar en ny produktionsfaktor baserat på anställdas tidigare erfarenheter som entreprenörer (EHC) för samtliga svenska aktiebolag under perioden2009–18. Det kan jämföras med andra humankapitalmått som utbildning ellerarbetslivserfarenhet. Därefter analyseras empiriskt sambandet mellan EHCoch produktivitet på företagsnivå samtidigt som vi tar hänsyn till ett stort antalindivid- och företagsspecifika faktorer. Resultaten visar att EHC har en starkpositiv effekt på företagens produktivitet oavsett vilka kontrollvariabler somadderas, skattningsmetod eller alternativa EHC-mått. Det bidrar till att förståskillnaderna i företagens produktivitet och är relevant för såväl företagare sombeslutsfattare inom politiken, tex vad gäller rörlighet på arbetsmarknaden.
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| 7. |
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| 8. |
- $$$Braunerhjelm, Pontus, et al.
(författare)
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Handbook of innovation and regulation
- 2023
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Bok (övrigt vetenskapligt/konstnärligt)abstract
- This comprehensive Handbook presents thoughtful analysis on how regulations can impact innovation within a number of fields and markets, and provides a greater understanding of regulatory complexity and the challenging task it presents for future research. The Handbook of Innovation and Regulation embraces some of the key policy areas such as the regulation of markets, critical sectors, and global and regional aspects, focussing particularly on those regulations which target innovation. Reviewing these often interconnected policy areas in terms of both macroeconomic and microeconomic issues, this Handbook expertly studies how regulations in differing fields can affect innovative activities. By placing innovation centre stage, the contributors emphasise the direct and indirect effects of imposed regulations. Further, they illustrate the critically important overall impact of innovation to make firms competitive, promote economic growth and increase societal welfare. Addressing research and policy challenges, this Handbook would be an excellent resource for academics in regulatory economics, innovation and entrepreneurship, international trade, regional economics as well as environment and digitisation and policymakers in both national and international organisations.
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| 10. |
- Braunerhjelm, Pontus, 1953-, et al.
(författare)
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Inventions, commercialization strategies, and knowledge spillovers in SMEs
- 2023
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Ingår i: Small Business Economics. - : Springer. - 0921-898X .- 1573-0913.
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Tidskriftsartikel (refereegranskat)abstract
- Despite the comprehensive previous research on different aspects of inventions and externalities spanning both the micro- and macrolevels, no prior studies have, to our knowledge, examined the relationship between the commercialization strategies of inventions/patents and social knowledge spillovers. To bridge this gap in the literature, we examine how such spillovers, measured as forward citations, covary with four commercialization modes: (1) setting up a new firm, (2) commercialization within an existing firm where the inventor either is employed or (3) has an ownership stake, and (4) licensing/selling patents to other firms. Alternatively, an inventor may refrain from commercialization. Utilizing unique survey data on patents owned by small- and medium-sized enterprises and individuals, we provide evidence that commercialization through licensing/selling is the most efficient way of generating knowledge diffusion. We also find some support for new ventures being an important source of knowledge spillovers. © 2023, The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature.
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