Strategic Management Journal最新文献_第2页

Fading corporate survival prospects: Impact of co‐selection bias in resource allocation on strategic intent 企业生存前景黯淡：资源分配中的共同选择偏差对战略意图的影响

IF 6.5 1区管理学

Strategic Management Journal Pub Date : 2024-08-08 DOI: 10.1002/smj.3652

Robert A. Burgelman, Pertti Aaltonen

{"title":"Fading corporate survival prospects: Impact of co‐selection bias in resource allocation on strategic intent","authors":"Robert A. Burgelman, Pertti Aaltonen","doi":"10.1002/smj.3652","DOIUrl":"https://doi.org/10.1002/smj.3652","url":null,"abstract":"Our field study of new business development in a German‐based global pharmaceutical company reveals that the emergence of co‐selection bias in project‐level state‐gate resource allocation engendered a corporate‐level innovation portfolio imbalance. We show how the corporate portfolio imbalance resulted from incoherent managerial activities in the multilevel resource allocation process (RAP) decision context and how this caused fizzling out of the proactively established incipient strategic context of the favored‐for‐growth business unit. Moreover, we identify strategic RAP exploitation challenges that explain why sequential exploitation capability and exploitation drive deficits caused an exploitation trap that limited strategic discretion and stymied top management strategic intent to maintain the company's independence. Our integrated frameworks augment strategic management theory of corporate RAP and offer guidance for future research.We draw attention to the little‐noticed phenomenon of co‐selection bias emerging in the project‐level state‐gate resource allocation to new business development and maladaptive corporate‐level innovation portfolio outcomes that it may produce. We show how top management can use the Bower–Burgelman RAP model to analyze the multilevel RAP decision context and identify the forces that may engender out‐of‐context managerial agency, such as co‐selection bias. We highlight strategic RAP exploitation challenges that top management must meet by matching the RAP exploitation drive with a commensurate RAP exploitation capability to avoid an exploitation trap, thereby increasing the chances of company survival.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":6.5,"publicationDate":"2024-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141928473","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Political competition and the rechanneling of corporate bribery into politically connected charity donations: Evidence from South Korea 政治竞争与企业贿赂转为与政治相关的慈善捐款：韩国的证据

IF 8.3 1区管理学

Strategic Management Journal Pub Date : 2024-08-08 DOI: 10.1002/smj.3640

Yujin Jeong, Jordan I. Siegel

{"title":"Political competition and the rechanneling of corporate bribery into politically connected charity donations: Evidence from South Korea","authors":"Yujin Jeong, Jordan I. Siegel","doi":"10.1002/smj.3640","DOIUrl":"https://doi.org/10.1002/smj.3640","url":null,"abstract":"Research SummaryWe examine the relationship between political competition, corporate bribery, and corporate contributions to politically connected charities, and whether there is a shift from covert to concealed corporate nonmarket action as political competition increases. Panel analysis using rare corporate bribery and charity donations panel data from South Korea reveals that as political competition increases, corporate bribery decreases, whereas corporate contributions to politically connected charities increase. Subsequent panel analysis uncovers that amid increased political competition, firms that made larger bribes in the prior year contribute more to politically connected charities in the subsequent year, and that this form of rechanneling is more pronounced for smaller business groups. Implications are discussed.Managerial SummaryThis study argues that the field of strategy needs to do more to analyze firms' illegal strategic behavior, both to gain a deeper understanding of business practices in the corporate world and to develop recommendations for policymakers on how to curb such behavior over time. Using comprehensive and rare firm‐level data on bribery of high‐level government officials and donations to politically connected charities from South Korea, this study analyzes how businesses rechannel their bribery of senior‐level politicians to contributions to politically connected charities as the country's level of political competition becomes stronger. This study proposes a theory of rechanneling and demonstrates support for the theory using the extensive data set on bribery and politically connected charity donations from South Korea.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141938170","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Rewiring the organizational network: Corporate offsites and network tie formation 重新布线组织网络：企业异地办公与网络纽带的形成

IF 8.3 1区管理学

Strategic Management Journal Pub Date : 2024-08-08 DOI: 10.1002/smj.3653

Madeline K. Kneeland, Adam M. Kleinbaum

{"title":"Rewiring the organizational network: Corporate offsites and network tie formation","authors":"Madeline K. Kneeland, Adam M. Kleinbaum","doi":"10.1002/smj.3653","DOIUrl":"https://doi.org/10.1002/smj.3653","url":null,"abstract":"Research SummarySocial networks are integral to collaborative work, but research on network change has shed little light on the mechanisms firms use to stimulate collaborative network ties among their employees. In this study, we examine the effects of corporate offsites on the evolution of social networks within an organization. We find that offsites lead to rewiring of intraorganizational networks, but with a surprising asymmetry: they stimulate everyone to initiate more collaboration ties, but only those who attend the offsite receive more ties. These results are consistent with a conceptualization of offsites as direct interventions that focus on social interactions for those who attend, but also as indirect interventions that signal the value of collaboration to everyone, even those who do not attend.Managerial SummaryCorporate offsites are events that convene people from across a firm to interact outside their regular work environment. Despite their popularity, this article offers the first data‐driven analysis of their effectiveness in promoting collaboration among employees. Offsites facilitate employees' awareness of who knows what, build trust, and foster interpersonal affect among employees. This study shows that offsites have a dual effect on the social network of an organization: they prompt everyone in the firm to initiate more collaborative ties following an offsite, but those who actually attend the offsite attract more of those collaborative tie requests. Therefore, offsites can be a useful tool to boost collaboration—with benefits accruing both to the individuals whose networks grow and to the firm in which they work.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141938169","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Double‐edged stars: Michelin stars, reactivity, and restaurant exits in New York City 双刃星：米其林星级、反应能力和纽约市餐厅的退出

IF 8.3 1区管理学

Strategic Management Journal Pub Date : 2024-08-06 DOI: 10.1002/smj.3651

Daniel B. Sands

{"title":"Double‐edged stars: Michelin stars, reactivity, and restaurant exits in New York City","authors":"Daniel B. Sands","doi":"10.1002/smj.3651","DOIUrl":"https://doi.org/10.1002/smj.3651","url":null,"abstract":"Research SummaryThis article develops a theoretical framework to explicate how third parties, who are not transactionally involved in a given exchange relationship, can promote or impede the creation and capture of value by influencing market actor beliefs and behaviors. I investigate these issues empirically through an abductive mixed‐method case study of the Michelin Guide's entry into New York City. An examination of two decades of the openings and closings of New York City's elite restaurants indicates that receiving a Michelin star corresponded to an increased likelihood of restaurant exit. Michelin stars appear to have fostered disruptions at recipients' upstream and downstream interfaces, which inhibited their ability to capture value. This ultimately underscores how value network reactivity to third‐party evaluations may lead to unintended consequences for firms.Managerial SummaryThis article explains how third‐party evaluators' reviews, ratings, and rankings can promote or impede the creation and capture of value. This occurs because third‐party evaluations engender reactions by those being evaluated, as well as reactions by other market actors such as competitors and exchange partners. I study these issues within the context of the Michelin Guide's entry into New York City, and my findings indicate that restaurants that received a Michelin star were more likely to close in subsequent years. Evidence suggests that intensified bargaining problems with landlords, suppliers, and employees, along with heightened consumer expectations, created new challenges for these Michelin‐starred restaurants, which ultimately made it more difficult for them to stay in business.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141938131","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Resource reallocation across successive systemic innovations: How Rolls‐Royce shaped the evolution of the turbojet, turboprop, and turbofan 在连续的系统创新中重新分配资源：罗尔斯-罗伊斯公司如何塑造涡轮喷气发动机、涡轮螺旋桨发动机和涡轮风扇发动机的发展历程

IF 8.3 1区管理学

Strategic Management Journal Pub Date : 2024-08-05 DOI: 10.1002/smj.3655

Gino Cattani, Mariano Mastrogiorgio, Giuseppe Carignani

{"title":"Resource reallocation across successive systemic innovations: How Rolls‐Royce shaped the evolution of the turbojet, turboprop, and turbofan","authors":"Gino Cattani, Mariano Mastrogiorgio, Giuseppe Carignani","doi":"10.1002/smj.3655","DOIUrl":"https://doi.org/10.1002/smj.3655","url":null,"abstract":"Research SummaryDespite the importance of resource reallocation in shaping a variety of strategic outcomes, strategy scholars have paid only limited attention to the processes by which firms reallocate their resources across successive systemic innovations. To explore these processes, we conducted an in‐depth historical case study on Rolls‐Royce's role in three distinct systemic innovations that marked the transition from piston engines to jet engines in the civil aviation industry: the turbojet, the turboprop, and the turbofan. The analysis helps explain how and why Rolls‐Royce's central role stemmed from its ability to reallocate existing non‐scale free organizational and technical resources. A key finding of this study is the identification of the horizontal transfer of functional modules as a critical process, especially during the incipient phase of a systemic innovation. The analysis also highlights the role that specific organizational arrangements, particularly a firm's integrative capabilities, have in shaping the effectiveness with which resources are reallocated.Managerial SummaryFocusing on resource reallocation is important to understand why some firms effectively reallocate their resources through successive systemic innovations while others cannot, even if they have similar resources and face the same environmental conditions. By delving into the technological aspects of aeroengine development and exploring why Rolls‐Royce had the capabilities to successfully integrate key functional modules across various modular levels, we clarify the relationship between technology and organization that underlies resource reallocation—a topic that has received only scant attention in the strategy literature.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141938084","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The competitive dynamics of strategic risk-taking, unethical behavior, and entry 战略冒险、不道德行为和进入市场的竞争态势

IF 8.3 1区管理学

Strategic Management Journal Pub Date : 2024-08-05 DOI: 10.1002/smj.3650

James Ostler

引用次数: 0

Disentangling audiences' reactions to creative content and creative packaging 区分受众对创意内容和创意包装的反应

IF 8.3 1区管理学

Strategic Management Journal Pub Date : 2024-08-02 DOI: 10.1002/smj.3649

Davide C. Orazi, Pier Vittorio Mannucci

{"title":"Disentangling audiences' reactions to creative content and creative packaging","authors":"Davide C. Orazi, Pier Vittorio Mannucci","doi":"10.1002/smj.3649","DOIUrl":"https://doi.org/10.1002/smj.3649","url":null,"abstract":"Research SummaryThis research addresses the tension of audiences often rejecting creative products despite creativity being foundational to organizational success. To better understand this issue, we take an abductive approach to disentangle the effects of creative content (how creative the core concept is) and creative packaging (how creatively the core concept is presented and visualized) while accounting for audiences' different expertise levels. Across two archival studies and a pre‐registered experiment, we find that both experts and general audiences react positively to creative content. However, reactions to creative packaging display greater variability: on average, experts react positively whereas general audiences react negatively. We find no interaction between the two variables. We discuss the theoretical implications of these findings for the literature.Managerial SummaryWhile creativity is foundational to organizational success, audiences often reject creative products. Across two archival studies and an experiment, we show how the effect of creativity on different audience's reception can be better understood when disentangling creative content (how creative the core concept is) from creative packaging (how creatively the core concept is presented and visualized). Our results suggest that companies should (a) invest more resources in developing products high in creative content—products that break current norms and are different from others—and (b) acknowledge that heavy investments into novel and visually groundbreaking packaging lend diminishing returns, particularly for general audiences: for the same level of quality a traditional (vs. creative) packaging yields more advantages.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141884893","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Do patent assets have a second life when startups fail? An analysis of the redeployment likelihood and mode of transfer 当初创企业倒闭时，专利资产还有第二次生命吗？重新部署的可能性和转让方式分析

IF 8.3 1区管理学

Strategic Management Journal Pub Date : 2024-08-01 DOI: 10.1002/smj.3644

Carlos J. Serrano, Rosemarie H. Ziedonis

{"title":"Do patent assets have a second life when startups fail? An analysis of the redeployment likelihood and mode of transfer","authors":"Carlos J. Serrano, Rosemarie H. Ziedonis","doi":"10.1002/smj.3644","DOIUrl":"https://doi.org/10.1002/smj.3644","url":null,"abstract":"Research SummaryEntrepreneurial firms are fertile sources of patented inventions. Yet little is known about what happens to patent assets when startups go out of business: Do the assets have a “second life” through redeployment to new owners? Based on 264 failed VC‐backed startups, we document an active market for the patents both as standalone assets and through co‐movement with inventors to the purchasing organization. We then model and test how the redeployment likelihood and mode of transfer is shaped by trading thickness in the secondary patent market and the degree to which asset value is firm‐specific and tied to the original venture. The study sheds new light on conditions that affect the redeployment of intangible assets and the abilities of startups to preserve value in liquidation.Managerial SummaryThe process of innovation naturally gives rise to failed attempts and abandoned projects. While prior studies document that disbanded ventures are important sources of human capital and learning spillovers, we are the first to document an active resale market for their patent assets. This study shines new light on conditions that affect the redeployment likelihood and mode of patent transfer, whether as standalone assets or through co‐mobility with an inventor to the purchasing organization. The evidence is based on 264 VC‐backed startups in the semiconductor, software, and medical device sectors. The formal model and empirical findings suggest that trading conditions in the secondary market not only affect the likelihood that patents originating from failed startups will be sold but also influence managerial incentives to retain inventors and preserve complementarities with the human capital.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141884895","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Competing with the platform: Complementor positioning and cross‐platform response to entry 与平台竞争：补充者定位和跨平台进入的对策

IF 8.3 1区管理学

Strategic Management Journal Pub Date : 2024-07-31 DOI: 10.1002/smj.3643

Aldona Kapacinskaite, Ahmadreza Mostajabi

{"title":"Competing with the platform: Complementor positioning and cross‐platform response to entry","authors":"Aldona Kapacinskaite, Ahmadreza Mostajabi","doi":"10.1002/smj.3643","DOIUrl":"https://doi.org/10.1002/smj.3643","url":null,"abstract":"Research SummaryThis study contrasts traditional entry dynamics with platform owner entry into a complementor market and examines cross‐platform complementor response to competition with the platform. Generalists experience low repositioning cost and are more likely to shift effort away, while specialists focus their effort on the focal platform. We examine Apple's “Files” app entry and find support for our hypotheses: generalists shift effort toward the competing platform, while specialists double down on the focal platform. Moreover, empirically comparing Apple's entry with that of other large firms, we find that only the platform owner elicits a strong complementor response. This article contributes to the competitive and corporate strategy literatures, underscoring how complementor heterogeneity affects cross‐platform allocation of effort when the platform owner becomes a competitor in complementor spaces.Managerial SummaryGiven the growing managerial and regulatory interest in competitive arenas on digital platforms, we analyze how firms respond to competition with the platform owner. We hypothesize that platform‐enabled firms (complementors) with an outside option—those who also operate on a different platform—reposition, while firms only focused on a single platform double down. Examining the case of the “Files” app on Apple's App Store, we find support for these predictions. We also study other large firm entries on App Store (by Microsoft and SanDisk), but do not observe a meaningful response by complementors. We describe how market entry by the platform owner differs from traditional entry and argue stakeholders may benefit from a deeper understanding of the unique nature of competing with a platform.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141869891","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How do US firms grow? New evidence from a growth decomposition 美国公司如何成长？增长分解的新证据

IF 8.3 1区管理学

Strategic Management Journal Pub Date : 2024-07-25 DOI: 10.1002/smj.3641

Jagadeesh Sivadasan, Natarajan Balasubramanian, Ravi Dharwadkar, Charlotte Ren

{"title":"How do US firms grow? New evidence from a growth decomposition","authors":"Jagadeesh Sivadasan, Natarajan Balasubramanian, Ravi Dharwadkar, Charlotte Ren","doi":"10.1002/smj.3641","DOIUrl":"https://doi.org/10.1002/smj.3641","url":null,"abstract":"Research SummaryFirm growth and its underlying modes are rarely examined on their own, which impedes our understanding of their relative importance, correlations among them and their associations with competition and future performance. We address these using a comprehensive seven‐mode decomposition of employment growth in all US firms (2004–2013). We find that organic modes such as opening or closing plants contribute more than transactional modes such as acquisitions and selloffs, and that growth modes exhibit age‐size differences and are generally positively correlated within firms. Trade competition in manufacturing increased closures and decreased acquisitions but had no effect on new units. Transactional growth positively correlates with future survival, unlike organic growth. Together, our findings expand our understanding of firm growth as a composite of multiple growth modes.Managerial SummaryManagers have many ways to grow a firm, but studies typically emphasize transactional modes such as acquisitions and selloffs. Using data on all US firms over 2004–2013, we study seven growth modes in an integrated and comprehensive model. We find that organic modes contribute more to growth than transactional modes, that young, large firms grow less relative to old, large firms, that when firms grow (shrink), they tend to grow (shrink) using multiple modes simultaneously and that growth modes vary in their association with competition. Importantly, transactional growth positively correlates with future survival, unlike organic growth. Together, these findings not only suggest that growth modes vary in their contribution to firm growth but also that they may differently influence subsequent performance.","PeriodicalId":22023,"journal":{"name":"Strategic Management Journal","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141781378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0