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Unleashing creative potential: The role of stable institutional ownership in exploratory innovation
IF 7.5 1区 管理学
Research Policy Pub Date : 2025-01-21 DOI: 10.1016/j.respol.2024.105166
Xin Deng , Hesham Ali , Heba Aboelkheir
{"title":"Unleashing creative potential: The role of stable institutional ownership in exploratory innovation","authors":"Xin Deng ,&nbsp;Hesham Ali ,&nbsp;Heba Aboelkheir","doi":"10.1016/j.respol.2024.105166","DOIUrl":"10.1016/j.respol.2024.105166","url":null,"abstract":"<div><div>This study investigates the impact of institutional ownership (IO) stability on firms’ pursuit of exploratory innovation. Utilizing a comprehensive dataset of public U.S. firms from 1990 to 2018, we provide robust evidence that firms with stable IO are more inclined to engage in exploratory innovation. Our analysis identifies three key mechanisms through which IO stability facilitates exploratory innovation: <em>disciplinary</em>, <em>informational</em>, and <em>resource-provision</em> channels. Considering the heterogeneous nature of institutional investors, our extended analysis indicates that the positive effect of stable IO on exploratory innovation is driven by active institutional investors, while the stability of both institutional blockholders and non-blockholders contributes to increased exploratory innovation. Furthermore, we find that the nexus between IO stability and exploratory innovation is more pronounced in firms with concentrated IO. Finally, we find that IO stability also leads to a high level of breakthrough innovation. Overall, our study highlights the critical role that stable IO plays in facilitating firms to overcome learning traps and fostering an environment conducive to exploratory activities within organizations.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 3","pages":"Article 105166"},"PeriodicalIF":7.5,"publicationDate":"2025-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143156938","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Simmelian brokerage, tertius iungens orientation, and idea elaboration
IF 7.5 1区 管理学
Research Policy Pub Date : 2025-01-20 DOI: 10.1016/j.respol.2025.105185
Stefano Tasselli , Hongzhi Chen , Brian R. Dineen
{"title":"Simmelian brokerage, tertius iungens orientation, and idea elaboration","authors":"Stefano Tasselli ,&nbsp;Hongzhi Chen ,&nbsp;Brian R. Dineen","doi":"10.1016/j.respol.2025.105185","DOIUrl":"10.1016/j.respol.2025.105185","url":null,"abstract":"<div><div>In organizations, idea elaboration calls for employees to work with inner-circle coworkers, who may be embedded in separate network cliques. Theories are inconclusive concerning how brokerage position between separate cliques will affect the elaboration and improvement of embryonic ideas. In three studies of R&amp;D scientists and medical professionals in various field settings, we first explored and found that being the sole shared member of separate cliques (i.e., Simmelian brokerage) undermines the quantity and quality of elaborated ideas. To explain this finding, we suggest that the Simmelian brokerage position begets a multi-insider trap: while the idea elaborators benefit from obtaining non-redundant feedback across separate cliques, they also encounter the challenge of selecting, aligning, and integrating potentially conflicting feedback. To investigate a boundary condition, we then explored the role of tertius iungens orientation; i.e., the tendency to bring people together with an inclusive mindset to incorporate divergent perspectives. Prior research suggests that this can reduce both the advantages and disadvantages of brokerage positions. Results show that Simmelian brokerage's detrimental effect is mitigated for people with a higher level of tertius iungens orientation. Overall, this exploratory research identifies a pitfall for innovators who are the sole shared member of separate network cliques, and illuminates who might best navigate such a pitfall.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 3","pages":"Article 105185"},"PeriodicalIF":7.5,"publicationDate":"2025-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143157448","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
Is the supermultiplier currently nil? - A replication study of Deleidi and Mazzucato (2021)
IF 7.5 1区 管理学
Research Policy Pub Date : 2025-01-17 DOI: 10.1016/j.respol.2025.105176
Jens Boysen-Hogrefe
{"title":"Is the supermultiplier currently nil? - A replication study of Deleidi and Mazzucato (2021)","authors":"Jens Boysen-Hogrefe","doi":"10.1016/j.respol.2025.105176","DOIUrl":"10.1016/j.respol.2025.105176","url":null,"abstract":"<div><div>Analyzing US macro data via a structural vector-autoregressive model (SVAR), Deleidi and Mazzucato (2021) find strong positive spillovers from mission-oriented government spending on private research and development, as well as on overall economic activity (“crowding in”). Deleidi and Mazzucato apply the SVAR to first-differenced data despite the possibility of cointegration. The replication shows that the result hinges on the transformation of the data and the choice of the sample period. The time variation of the estimation results is substantial. When estimating the model with data starting after 1985, the results point to a temporary “crowding out” of private research and development spending.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 3","pages":"Article 105176"},"PeriodicalIF":7.5,"publicationDate":"2025-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143157478","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Gender diversity in academic entrepreneurship: Social impact motives and the NSF I-corps program
IF 7.5 1区 管理学
Research Policy Pub Date : 2025-01-16 DOI: 10.1016/j.respol.2024.105169
April Burrage , Nilanjana Dasgupta , Ina Ganguli
{"title":"Gender diversity in academic entrepreneurship: Social impact motives and the NSF I-corps program","authors":"April Burrage ,&nbsp;Nilanjana Dasgupta ,&nbsp;Ina Ganguli","doi":"10.1016/j.respol.2024.105169","DOIUrl":"10.1016/j.respol.2024.105169","url":null,"abstract":"<div><div>This study examines gender differences in the social impact and commercial motives for academic entrepreneurship using the National Science Foundation's Innovation Corps (NSF I-Corps) program. I-Corps provides experiential entrepreneurship training to faculty and graduate student researchers at local I-Corps university sites and through a nationwide program. Since the inception of I-Corps, only 20 % of participants have been women. We first use survey data from one I-Corps university site to show that women had higher social entrepreneurial intentions compared to commercial entrepreneurial intentions, and their social entrepreneurial intentions were higher than men's. We then extend and generalize this finding by analyzing 1267 publicly available project summaries from the National I-Corps Program from 2011 to 2019. We find that women PIs' project proposals emphasized social impact significantly more than men, while projects for all PIs emphasized commercial impact to a similar degree. We next ran a field experiment to estimate the causal impact of social impact vs. commercial motives by experimentally manipulating the recruitment email messages inviting researchers to participate in the I-Corps training program. We find that women were more likely to show interest in a social impact version of a message compared to a commercial version, while men showed equal interest in both types of messages. Taken together, our results indicate that women are more interested in pursuing commercialization and entrepreneurship activities when they are tackling societal problems. They suggest that low-cost interventions that emphasize the social impact value of entrepreneurial opportunities may increase gender diversity in entrepreneurship activities.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 3","pages":"Article 105169"},"PeriodicalIF":7.5,"publicationDate":"2025-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143157450","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
Accounting backgrounds and technological innovation: Are accountant CEOs inferior innovators?
IF 7.5 1区 管理学
Research Policy Pub Date : 2025-01-16 DOI: 10.1016/j.respol.2025.105175
Jian Cao , Feng Chen , Mingxiang Li , Xin Luo
{"title":"Accounting backgrounds and technological innovation: Are accountant CEOs inferior innovators?","authors":"Jian Cao ,&nbsp;Feng Chen ,&nbsp;Mingxiang Li ,&nbsp;Xin Luo","doi":"10.1016/j.respol.2025.105175","DOIUrl":"10.1016/j.respol.2025.105175","url":null,"abstract":"<div><div>Studies grounded in the theory of vocational personality suggest that accountants exhibit a conventional personality type in virtue of which they tend to be relatively uncreative. The well-observed phenomenon whereby corporations appoint CEOs with accounting backgrounds raises the question of how effectively accountant CEOs lead technological innovation. Using a large dataset of patents issued to U.S. firms from 2001 through 2018, we find that firms with accountant CEOs are associated with lower innovation output and a weaker propensity to pursue explorative innovations but greater efficiency in generating innovation output per unit of resource input. We also show that industry growth mitigates the negative effects of accountant CEOs on exploration and innovation while enhancing their capacity to promote innovation efficiency. Our findings delineate the trade-offs associated with accountant CEO appointments and highlight a significant yet underexplored aspect of a CEO's personal background—underlying vocational personality traits—as determinants that influence innovation pathways and strategic outcomes.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 3","pages":"Article 105175"},"PeriodicalIF":7.5,"publicationDate":"2025-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143157451","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
Innovation and zombie firms: Empirical evidence from Italy
IF 7.5 1区 管理学
Research Policy Pub Date : 2025-01-16 DOI: 10.1016/j.respol.2025.105172
Andrea Ascani , Lakshmi Balachandran Nair
{"title":"Innovation and zombie firms: Empirical evidence from Italy","authors":"Andrea Ascani ,&nbsp;Lakshmi Balachandran Nair","doi":"10.1016/j.respol.2025.105172","DOIUrl":"10.1016/j.respol.2025.105172","url":null,"abstract":"<div><div>Zombie firms are businesses that cannot repay debt from current profits over an extended period and yet continue to operate and avoid failure. This article specifically investigates whether and under what circumstances the presence of zombies in an industry constitutes a barrier to the innovativeness of non-zombies in the same sector. Conceptually, non-zombie firms may face tougher access to finance and fiercer market competition when zombies are in business, and this could reduce their innovative efforts. By analysing matched patent-firm data from Bureau van Dijk ORBIS Intellectual Property on 426,130 Italian firms from 2012 to 2018, we find evidence in favour of this negative intra-industry spillover. Nonetheless, this general relationship is subject to various contingencies. Specifically, zombies are detrimental to healthy firms that (i) depend on external sources of finance, (ii) operate in highly competitive markets, (iii) are more exposed to the erosion of their market shares, and (iv) do not possess a pre-existing strong knowledge base. Our findings have relevant policy and managerial implications.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 3","pages":"Article 105172"},"PeriodicalIF":7.5,"publicationDate":"2025-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143157449","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Gender biases in assistant professor recruitment: Does discipline matter?
IF 7.5 1区 管理学
Research Policy Pub Date : 2025-01-15 DOI: 10.1016/j.respol.2024.105170
Heike Solga , Alessandra Rusconi , Sophie Hofmeister
{"title":"Gender biases in assistant professor recruitment: Does discipline matter?","authors":"Heike Solga ,&nbsp;Alessandra Rusconi ,&nbsp;Sophie Hofmeister","doi":"10.1016/j.respol.2024.105170","DOIUrl":"10.1016/j.respol.2024.105170","url":null,"abstract":"<div><div>Higher education institutions have implemented various affirmative action policies aimed at increasing the representation of female professors, including measures to reduce gender bias in professorship appointments. This raises the question of whether gender bias still exists. Research on gender bias in assistant professor appointments remains sparse. We therefore examine whether gender bias in assistant professor recruitment exists and differs across disciplines (looking at mathematics/physics, economics/sociology/political science, and German studies). Our analysis is based on a factorial survey experiment with 1857 professors from German universities in 2020. We draw on Crandall and Eshleman's (2003) justification-suppression model to argue that gender policies can help suppress the expression of prejudices (negative stereotypes) against female applicants. Our results show that in all disciplines studied, female applicants receive higher ratings than male applicants, both for perceived qualification for an assistant professorship and for being invited for an interview. The female advantage is more pronounced in mathematics/physics when applicants are perceived to be equally qualified, suggesting a greater normative pressure to comply with gender-based preferential selection. In mathematics/physics, however, we also find a smaller premium for having received a research grant among female applicants. Overall, the observed female advantage is rather small in all disciplines studied.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 3","pages":"Article 105170"},"PeriodicalIF":7.5,"publicationDate":"2025-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143100852","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Interpretive aspects of claim language and patent scope
IF 7.5 1区 管理学
Research Policy Pub Date : 2025-01-03 DOI: 10.1016/j.respol.2024.105171
Srinivasan Ananthraman , Bart Cambré , Henry Delcamp
{"title":"Interpretive aspects of claim language and patent scope","authors":"Srinivasan Ananthraman ,&nbsp;Bart Cambré ,&nbsp;Henry Delcamp","doi":"10.1016/j.respol.2024.105171","DOIUrl":"10.1016/j.respol.2024.105171","url":null,"abstract":"<div><div>Patent scope is an important patent policy lever. We distinguish between the verbose and interpretive aspects of claim language wherein the latter is predominantly characterized by scope-broadening terms and the former is exclusively constructed from scope-narrowing terms and operationalize these aspects based on the proportions of the corresponding characterizing terms in the claims. Using samples ranging from half a million to two million patents, we test and validate the association between our scope measures and several established indicators of patent value and find that the association is not only statistically significant but also economically substantive. Our study contributes to theory by expounding the salience of verbose and interpretive aspects of claim language to patent scope studies and empirical literature by advancing valid and reliable indicators of patent scope based on claim interpretation. For patent policymakers, our study enables a more precise assessment of patent scope during patent examinations. Innovators can benefit from the knowledge of our patent scope measures by enhancing the quality and eventual value of their patents and patent portfolios.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 2","pages":"Article 105171"},"PeriodicalIF":7.5,"publicationDate":"2025-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143128968","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
Does shareholder overlap alleviate patent holdup?
IF 7.5 1区 管理学
Research Policy Pub Date : 2024-12-31 DOI: 10.1016/j.respol.2024.105167
Heng Geng , Harald Hau , Sandy Lai , Pengfei Liu
{"title":"Does shareholder overlap alleviate patent holdup?","authors":"Heng Geng ,&nbsp;Harald Hau ,&nbsp;Sandy Lai ,&nbsp;Pengfei Liu","doi":"10.1016/j.respol.2024.105167","DOIUrl":"10.1016/j.respol.2024.105167","url":null,"abstract":"<div><div>Patent protection can generate holdup problems for follow-on innovators when technologies protected in early patents complement their inventions. This study investigates whether institutional shareholder overlap between firms with precursory patents and follow-on innovators can reduce such patent holdup problems. Using patent citation links to track complementary patents, we find empirical support for such a holdup attenuation hypothesis of institutional shareholder overlap. Follow-on innovators with greater institutional shareholder overlap to precursory patent owners enjoy greater success with their patent portfolio, face less patent conflict as measured by patent litigation, and feature higher levels of R&amp;D investments. The holdup attenuation effect is stronger if product complexity makes securing ex ante patent licenses more difficult.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 2","pages":"Article 105167"},"PeriodicalIF":7.5,"publicationDate":"2024-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143128967","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Open innovation in ecosystems: Exploring how the affiliation of an ecosystem partner impacts the benefits of collaboration in open innovation
IF 7.5 1区 管理学
Research Policy Pub Date : 2024-12-23 DOI: 10.1016/j.respol.2024.105168
Sohvi Heaton , Jungwon Min
{"title":"Open innovation in ecosystems: Exploring how the affiliation of an ecosystem partner impacts the benefits of collaboration in open innovation","authors":"Sohvi Heaton ,&nbsp;Jungwon Min","doi":"10.1016/j.respol.2024.105168","DOIUrl":"10.1016/j.respol.2024.105168","url":null,"abstract":"<div><div>By combining insights from the open innovation literature with the dynamic capabilities framework, we investigate how three types of open innovation partner choices—partners from competing ecosystems, partners within the same ecosystem, and partners outside any ecosystem—affect firms' innovation outcomes. Additionally, we examine the moderating role of firms' adaptability in this relationship. Analyzing panel data for 70 global airline companies from 47 countries, we find that collaborating with a partner from a competing open innovation ecosystem enhances a firm's innovation effort more than partnering with a company from the same ecosystem or one without an ecosystem. Moreover, our results indicate that this relationship is particularly pronounced for firms exhibiting greater adaptability in times of crisis. Overall, we contribute to open innovation research by challenging the implicit assumption that open innovation occurs solely within dyadic relationships and viewing the open innovation system as static. Instead, we emphasize the interplay of interdependencies and competition across innovation ecosystems, conceptualizing the open innovation system as more dynamic. In this dynamic system, especially under conditions of uncertainty, we highlight firm-level adaptability as a critical boundary condition for successful open innovation.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 2","pages":"Article 105168"},"PeriodicalIF":7.5,"publicationDate":"2024-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143128966","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
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