Vermeire, Jacob; Bruton, G.; Cai, L. (Review of Social Economy, 2017)
In an effort to help address severe levels of poverty, multinational firms are increasingly seeking to include African smallholders in their global value chains (GVCs). Despite efforts of multinationals to provide such opportunities, the number of successful inclusions remains limited. We draw from the entrepreneurship domain to approach this important issue from an opportunity perspective. At the heart of our effort to develop a greater theoretical understanding is the insight that opportunities can both be discovered and created by smallholders. The key implication of this insight is that multinationals will gain more from their efforts to include small landholders in their GVCs if they adapt their value chain systems in ways that also accommodate joint creation of opportunities with smallholders rather than expect that all smallholders adapt to the systems developed by the large global firms for their large suppliers.
Shymko, Yuliya; Roulet, Thomas (Academy of Management Journal, 2017)
Does corporate philanthropy have an indiscriminately positive effect on recipients? Our baseline argument asserts that relationships with stakeholders outside the field, such as corporate donors, can be perceived as a deviation from the dominant logic at the industry level, and thus as a negative signal by peers. How can recipients mitigate this adverse effect on social evaluations? To answer this question, we study how corporate benefaction affects the process of peer recognition in the context of Russian theaters from 2004 to 2011. First, we engage in a qualitative exploration of our setting to contextualize our hypotheses and understand how relationships with corporate donors, depending on their characteristics, affect peer recognition. We then quantitatively test our hypotheses and confirm that the salience of the relationship with extraneous stakeholders—operationalized as the number of corporate donors—has a negative effect on peer recognition. However, we find that this effect can be mitigated if theaters choose to limit the breadth, depth, and negative valence of the relationship. We contribute to both the institutional logics and stakeholder literatures by bringing in a signaling perspective: we show that peer recognition, upon which themaintenance of a dominant logic lies, is directly impacted by the nature of relationships with extraneous stakeholders.
Integrating the behavioral and institutional perspectives, we propose that a country's formal institutions, particularly its legal frameworks, affect managers' deployment of slack resources. Specifically, we explore the moderating effects of creditor and employee rights on the performance effects of slack. Using longitudinal data from 162,633 European private firms in 26 countries, we find that financial slack enhances firm performance at diminishing rates, whereas human resource (HR) slack lowers performance at diminishing rates. However, financial slack has a more positive effect on firm performance in countries with weaker creditor rights, whereas HR slack has a more negative effect on performance in countries with stronger employee rights. The results provide a richer view of the relationship between slack and firm performance than currently assumed in the literature.
Neckebrouck, Jeroen; Manigart, Sophie; Meuleman, Miguel (Venture capital, 2017)
More and more family firms open their capital for outside investors, yet existing studies mainly conclude that family firms are more reluctant than nonfamily firms to hand over control to outside investors. In this study, we build on an organizational identification perspective to explore why family firms differ in their attitudes toward outside investors. We hypothesize that family members who identify strongly with their firms are less willing to cede control to outside investors and, if they do cede control, have a stronger preference for investors who may readily identify with family firms, such as family offices or high net worth individuals, rather than investors who may not fit well with a familial identity, such as private equity sponsors or financial investors. We also hypothesize that social identification mediates the relationship between important family firm governance characteristics and preferences for outside investor. Exploratory evidence from a sample of Belgian family firms is supportive of most of our predictions.
Meuleman, Miguel; Jääskeläinen, Mikko; Maula, Markku V.J.; Wright, Mike (Journal of Business Venturing, 2017)
Syndicating with prior partners through relationally embedded ties may be widespread, but not always optimal when investing across borders especially if few prior partners operate in the focal market. However, the substitutes of relational embeddedness for trust creation in cross-border partner selection are poorly understood. We develop and test a model of how relational embeddedness interacts with structural embeddedness and legal and normative institutions and how relational embeddedness and these three substitutes jointly affect cross-border partner selection in venture capital syndicates. We test the hypotheses in the context of cross-border venture capital syndication in 12 European countries. Our findings based on a case-control analysis suggest that although relational embeddedness is a key driver of future partnering, structural embeddedness and trust generating institutions such as high quality legal frameworks and industry associations facilitate cross-border partnering and diminish the need to rely on relationally embedded ties in cross-border partner selection.
Salonen, A.; Saglam, O.; Hacklin, Fredrik (Journal of Service Management, 2017)
The purpose of this paper is to explain why product-centric manufacturers utilize advanced services not as vehicles of transformation, but of reinforcement, to strengthen their established business model logic based on selling products and basic product-related services.
Maker technologies, including collaborative digital fabrication tools like 3-D printers, enable entrepreneurial opportunities and new business models. To date, relatively few highly successful maker startups have emerged, possibly due to the dominant mindset of the makers being one of cooperation and sharing. However, makers also strive for financial stability and many have profit motives. We use a multiple case study approach to explore makers' experiences regarding the tension between sharing and commercialization and their ways of dealing with it. We conducted interviews with maker initiatives across Europe including Fab Labs, a maker R&D center, and other networks of makers. We unpack and contextualize the concepts of sharing and commercialization. Our cross-case analysis leads to a new framework for understanding these entrepreneurs' position with respect to common-good versus commercial offerings. Using the framework, we describe archetypal trajectories that maker initiatives go through in the dynamic transition from makers to social enterprises and social entrepreneurs.
Verwaeren, Bart; Van Hoye, Greet; Baeten, Xavier (International Journal of Human Resource Management, 2017)
Even though some organizations are trying to attract high-level applicants through offering superior compensation and benefits, reward statements in job advertisements are sometimes rather general and vague. On the basis of person-environment fit theories, we examine whether providing more specific information on attractive reward packages in job advertisements leads to higher perceived person-reward fit and subsequent job pursuit intentions. Furthermore, based on signaling theory, we propose that person-reward fit allows job seekers to make inferences about broader person-organization fit. Applying an online experimental design among 283 experienced potential applicants, we find that more specific compensation and benefits information results in higher job pursuit intentions and that this relationship is fully mediated by person-reward fit perceptions. In turn, the effect of person-reward fit is partially mediated by perceptions of person-organization fit, indicating that people might use reward information as signals for other organizational attributes in early stages of recruitment.
Firms in the biopharmaceutical industry send signals to investors about the value of their knowledge by disclosing it in the form of patents and publications. In this way, they can gain reputation even before having products on the market. This paper compares the patenting and publishing activities of university spinoffs with other biopharmaceutical firms. The findings suggest that successful university spinoffs and successful other firms (not university spinoffs) tend to follow different knowledge disclosure strategies. Whereas successful university spinoffs tend to emphasize the scientific value of their knowledge and gain reputation through their high-quality publications, other successful firms tend to emphasize the commercial value of their knowledge and gain reputation through high-quality patents.
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