This study analyzes the effect of different external technology sourcing modes on the creation of radical innovation in companies. Moreover, since prior research has indicated that exploration consists of looking beyond both organizational and technological boundaries, the role of technological distance between the partnering firms and the role of technological newness are also included. In particular, this paper examines how they affect the relationship between external technology sourcing and the creation of pioneering technologies (technologies that do not build on any existing technologies), which are used as a proxy for radical innovations. Using a sample of companies that were from the pharmaceutical industry, the results indicate that strategic alliances and corporate venture capital investments have a positive effect on the creation of pioneering technologies, whereas the effect of M&As is found to be negative. Additionally, the results show that the impact of these governance modes on the creation of pioneering technology is indeed affected by the newness of the technology and relatedness of the technological portfolios of the partnering firms. A larger technological distance between the two partnering firms increases the effect of strategic alliances on the creation of pioneering technologies. In addition, the results indicate that technological newness weakens the positive effect of CVC investments and non-equity alliances on the creation of pioneering technologies.
Based on expectancy theory, goal-setting theory and control theory, we propose a model in which perceived fairness mediates the relationship between characteristics of employee performance management (PM) systems and their perceived effectiveness by employees. PM system characteristics we propose are the frequency and length of formal reviews, the frequency of informal reviews and feedback, whether the formal conversation focused on evaluation or development and finally the degree of participation. The model was tested on a cross-industry sample of 3192 employees in Belgium. The measurement and structural models were simultaneously tested using structural equation modeling, and we used a bootstrapping approach to test the mediation hypothesis. Our findings indicate that performance review focus and employee participation strongly relate to perceptions of appraisal fairness and PM system effectiveness and that the frequency of informal performance reviews is stronger related to PM system effectiveness than the frequency of formal performance reviews. This suggests that the manifest expressions of PM have more impact on PM system effectiveness rather than the more latent characteristics of PM systems. The findings advance research to the role and functionality of PM systems by showing that (a) the manner in which PM systems are shaped and executed is of fundamental importance for their effectiveness, (b) fairness partially mediates the relationship between PM system characteristics and their effectiveness and (c) the three motivational theories appear useful for understanding the consequences of PM practices on individual employees.
Bacon, Nick; Wright, Mike; Scholes, L.; Meuleman, Miguel (2010)
Private equity firms are accused by trade unions of changing industrial relations in buyouts by demonstrating an unwillingness to recognize and work with trade unions, and by downgrading information and consultation. To explore these important policy issues, this article reports the first representative pan-European survey of managers’ perceptions of the impact of private equity on industrial relations. Managers report that private equity investment does not result in changes to union recognition, membership density or changes in management attitudes to trade union membership. Furthermore, managers in firms recognizing unions after private equity buyouts do not report reductions in the terms and conditions subject to joint regulation. Under private equity ownership more firms report consultative committees, managers regard these as more influential on their decisions, and indicate increased consultation over firm performance and future plans. Comparing industrial relations changes in different social models in Europe, the results suggest private equity firms adapt to national systems and traditional national industrial relations differences persist after buyout.
It is commonly accepted nowadays that external knowledge sources are important for firms' innovative performance. However, it is still not clear, what dimensions of firms' external knowledge search strategy are crucial in determining their innovation success and whether these search strategies are contingent on different innovation modes. In this study, we analyse how the innovative performance is affected by the scope, depth, and orientation of firms' external search strategies. We apply this analysis to firms using STI (science, technology and innovation) and DUI (doing, using and interacting) innovation modes. Based on a survey among firms in China, we find that greater scope and depth of openness for both innovation modes improves innovative performance indicating that open innovation is also relevant beyond science and technology based innovation. Furthermore, we find that decreasing returns in external search strategies, suggested by Laursen and Salter (2006), are not always present and are contingent on the innovation modes. Next, we find that the type of external partners (we label it “orientation of openness”) is crucial in explaining innovative performance and that firms using DUI or STI innovation modes have different sets of relevant innovation partners. This shows that the orientation of openness is an important dimension—in addition to the scope and depth of openness. As respondents are located in China, this study provides evidence that open innovation is also relevant in developing countries.
Baeten, Xavier; Loyens, Said; De Greve, Bert (2018)
This white paper by Prof Xavier Baeten, Said Loyens (Vlerick’s Centre for Excellence in Strategic Rewards) and Bert De Greve (Hudson) proposes concrete and evidence-based ideas on how Belgian firms should manage wage setting in the future.
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