| 1. |
- Anokhin, Sergey, et al.
(författare)
-
Corporate venturing deal syndication and innovation : the information exchange paradox
- 2011
-
Ingår i: Long range planning. - : Elsevier BV. - 0024-6301 .- 1873-1872. ; 44:2, s. 134-151
-
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
|
|
| 2. |
|
|
| 3. |
- Anokhin, Sergey, et al.
(författare)
-
Risky information exchange : how network position can cause difficulties for corporate innovation
- 2009
-
Ingår i: Proceedings of the Twenty-ninth Annual Entrepreneurship Research Conference.
-
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.
|
|
| 4. |
- Drnovšek, Mateja, et al.
(författare)
-
The effectiveness of coping strategies used by entrepreneurs and their impact on personal well-being and venture performance
- 2010
-
Ingår i: Zbornik Radova Ekonomskog Fakulteta u Rijeci. - : University of Rijeka. - 1331-8004 .- 1846-7520. ; 28:2, s. 193-220
-
Tidskriftsartikel (refereegranskat)abstract
- This paper analyzes effectiveness of coping strategies that entrepreneurs use to daily manage work related stress. Coping is the process of expending efforts to solve personal and interpersonal problems and reducing stress induced by unpleasant and stressful situations. Two broad strategies of coping are identified; problem-based coping refers to a cognitively-based response behavior that includes efforts to alleviate stressful circumstances while emotion-based coping involves behavioral responses to regulate the affective consequences of stressful events. The purpose of this research is to analyze relationships among the coping strategies used by entrepreneurs and a set of antecedents influencing the selection of coping strategies. The methodology used is based on structural equation modeling and empirical data of 469 entrepreneurs from two European countries. Our results show that problem-based coping facilitates well-being and venture performance. In addition, our findings also support interaction effects of founder centrality and contextual conditions of venturing on the extent entrepreneurs engage in coping. We believe that our insights can help in training entrepreneurs in the development of effective coping strategies that are context dependent. In specific, our results suggest entrepreneurs to engage in problem-focused strategies when they want to effectively address the economic aspects of their lives whereas when they engage in emotion-based strategies they seem to increase the self-knowledge they need to start subsequent ventures and facilitate learning from failure. Future studies on coping strategies could study the interplay of coping strategies used to resolve challenging social situations that various stakeholders of practicing entrepreneurs impose.
|
|
| 5. |
- Drnovsek, Mateja, et al.
(författare)
-
Who, what and when to cope with role stress? : coping strategies used by entrepreneurs in new ventures
- 2008
-
Ingår i: Frontiers of Entrepreneurship Research 2007. - : Babson College Center. - 091089728X
-
Konferensbidrag (refereegranskat)abstract
- We use a self regulation perspective to argue that entrepreneurial effectiveness is driven by the coping strategies entrepreneurs use to meet expectations of stakeholders involved in the opportunity exploitation processes. As stakeholders advance their expectations and thus impact the roles of entrepreneurs in the process, role related conflicts, ambiguities and overloads, easily emerge. To resolve such conflicts entrepreneurs engage in coping strategies. We posit that four coping strategies are relevant for entrepreneurial effectiveness: structural role redefinition, personal role redefinition, reactive role behavior, and passive role behavior.
|
|
| 6. |
|
|
| 7. |
|
|
| 8. |
|
|
| 9. |
- Ejdemo, Thomas
(författare)
-
Entrepreneurship and the Geography of Innovation : Essays on the Role of Related Variety
- 2021
-
Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- The traditional view that large industrial corporations are the primary engines of innovation and economic progress has gradually been replaced by the notion that place is the key organizing platform for innovative activity in the modern knowledge economy. The geography of innovation has shown that innovative activities tend to cluster in space, due to the advantages of certain cities and regions. Recent literature suggests that a regional diversity of economic activities that are related in a cognitive or technological sense is advantageous, as it facilitates knowledge spillovers that foster positive economic outcomes. This re-specifies the traditional dichotomy between economic specialization and diversity and opens up new lines of inquiry. This thesis aims to contribute to the literature on the geography of innovation and related variety with studies that treat the relationships between related industry variety, innovation and entrepreneurship in explicit fashions, thus addressing important research gaps. The overall purpose of the thesis is therefore to examine and explain the relationship between regional related variety and regional economic change, in terms of: (a) entrepreneurship, and; (b) innovation. The thesis consists of an introductory text and five appended papers. Paper 1 provides a bibliometric study of the literature on related variety, while papers 2 to 5 provide empirical analyses that address the implications of related variety for regional economic outcomes in terms of growth, entrepreneurship and innovation. The main findings of the thesis work suggest that related variety facilitates knowledge spillovers that unlock entrepreneurial opportunities, and that knowledge spillover entrepreneurship underpins the external economies of scope that arise from related variety. In addition, the thesis finds that entrepreneurship is an important driver of economic diversification in related activities. Furthermore, findings presented in the thesis align with previous literature that has reported a positive influence of related variety on regional innovation, which indicates the presence of positive knowledge externalities that foster innovation. It is however argued that the thesis work extends on previous findings by emphasizing the function of entrepreneurship in realizing the knowledge spillover effects of related variety. The importance of entrepreneurship is further reinforced by the finding that unrelated variety in particular is associated with firm-level entrepreneurial innovation. Drawing on the notion of Knightian uncertainty, the thesis work concludes that the process of innovation may require business decisions under ‘true’ uncertainty about expected returns, particularly when combinations of unrelated knowledge are attempted as they are new and unprecedented, and such pursuits can be understood as acts of entrepreneurial innovation.
|
|
| 10. |
- Ejdemo, Thomas, et al.
(författare)
-
Exploring a leading and lagging regions dichotomy : does entrepreneurship and diversity explain it?
- 2021
-
Ingår i: Journal of Innovation and Entrepreneurship. - : Springer. - 2192-5372. ; 10
-
Tidskriftsartikel (refereegranskat)abstract
- There has been a long debate about the role of industry structure in the literature on why some regions successfully achieve economic growth, while other regions stagnate or decline. This paper provides an empirical analysis in which we, based on a cluster analysis, develop a taxonomy for regional growth. In a second part of the study, we explore how specialization and entrepreneurship are meaningful to discriminate between the different types of regions. Our results suggest that regional entrepreneurship and industry diversity characterized by relatedness are key elements in understanding why some regions are leading while others lag behind. The suggested taxonomy is argued to contribute with a nuanced perspective that can enhance discussions about improvements of regional development policies and to further empirical analysis on the topic.
|
|
