Martin Kunc Michael Mannor Edward Desmarais Luca Berchicci Jonathan Doh Andrew King Derek Ruth Idalene Kesner Bridgette Sullivan-Taylor Bente R. Lowendahl Alva Taylor Laura Costanzo Paul Knott Mark Kriger Kirsten Foss George Wright Livia Markoczy Sylvia Maxfield David King Daniel Degravel Hannes Pichler Sarah Dixon Rajiv Nag Anna Nadolska Sanjay Jain David Seidl Rafael Corredoira Benjamin Campbell Vivek Tandon Justin Davis Bill Wooldridge Samina Karim Simona Giorgi MB Sarkar Øystein Fjeldstad Kevin Boudreau Florian Bertram Stéphane Girod Michel Ghertman Christian Lechner Cristina M Longo Leif Melin Marco Romano Carmela Elita Schillaci Hsin-Mei Lin John McGee Julian Lowe Olof Brunninge Doug Schuler Thomas Brush Maria Gabriela Utrera Manish Srivastava David Benson Hart Posen Sam Ransbotham Andreas Hinterhuber Michael Ciuchta Jamal Shamsie Changqi Wu Nile Hatch Daniel H Simon Andrew Watson Mark Hansen Dawn Harris Sotiris Rompas Allegre Hadida Paul Olk Gabriel Szulanski Xiang Nong Song Bahman Ebrahimi Jared Harris Rosario Faraci Brian McCann David Croson Steven Postrel Daphne Yiu Randi Lunnan Denis Lacoste Koen Heimeriks Simone Ferriani Richard Yu Yuan Hung Irem Demirkan Shyam Kumar Adrian Caldart Sudi Sudarsanam Erik Wetter Sverre Tomassen Luiz Mesquita Michele Simoni Sonya Wen Antoine Hermens Mariko Sakakibara Ulas Burkay Bernard Garrette Kamel Mellahi Xiaoying Li Antoinette Weibel Rudi K F Bresser Katja Rost Kang-Ning Xia Martin Inganäs Christian Powalla Thorsten Teichert Xavier Martin Christiane Prange David Major Curba M Lampert Fredrik Tell Yan Zhang James Robins Paul Bilsdorfer R. Scott Livengood Rui Baptista Joseph T Mahoney Petra Christmann Sujin Han Michelle Chen Jeff Dyer Fabrice Lumineau Mark Washburn Elena Novelli Alfred Marcus Duncan Angwin Dodo zu Knyphausen-Aufsess Esther Solomon Quy Huy Edward Zajac Curtis Moore Philipp Zimmermann Dimo Dimov Carsten Zimmermann Hadi Alhorr Aviad Pe‘er Manuela Presutti Will Lamb Carlos Rufin Jorge Walter Felipe Csaszar Werner Hoffmann Christoph Zott Akie Iriyama David Bryce Andrew Hess Ravi Madhavan Bertrand Monnet Rhonda Reger Aurélien Eminet Jimmy Brown Salvatore Vicari Valerie Claude-Gaudillat Gianmario Verona Devendra Singh Xin Li Pei Sun Paulina Junni Tom Elfring Duncan Robertson Christian Goeke James Davis Sari Stenfors Annette Biedermann Patrick Reinmoeller Renee Rottner Thomas Durand Jean McGuire Ilya Cuypers Page West Avraham Meshulach Guoli Chen Ilya Okhmatovskiy Reynaldo Valle Thiele Amy Hillman David Sirmon Moacir Oliveira Jr. Joan Allatta Srilata Zaheer Thomas Keil George Yip Rita Shea-Van Fossen Jun Li Miguel Angel Campo-Rembado Abhijit Mandal Laura Cardinal Wouter Stam Ansgar Richter Christoph Grimpe Anthony Sadler Wolfgang Sofka Rafael Lucea Stephen Gates Turanay Caner Christian Stadler Tina Bratkovic Jennifer Chen Philippe Very Terence Fan Roberto Garcia-Castro Torben Juul Andersen Valerie Moatti Wolfgang H Guettel Peter Jaeger Zeynep Erden Francisco Gonçalves Toyah Miller Andrea Lanza Jamie Collins Anuja Gupta Lawrence Plummer Liisa Valikangas Stephen Chen Thomas Clarke Dara Szyliowicz Haim Kedar-Levy Anna Jonsson Herbert Kimura Vinh Chau Chamu Sundaramurthy Peng Zhao Markus Fitza Robert White Monia Mtar Kerem Gurses Louis Hébert Corey Phelps Devi Gnyawali Roland Szabo Inga Voss Hong Zhu Margaret White Taco Reus Nir Brueller Subrata Chakrabarty Brian Boyd Qing Cao Giovanni Battista Dagnino Daniel Tzabbar Daniela Blettner Patrick Maggitti Takashi Hikino Richard Bettis Aylin Ates Elisa Alvarez-Garrido Gabriel R G Benito Howard Viney Christina Lindskog Krsto Pandza Naomi Gardberg Scott Rockart Margarethe Wiersema David Stiles Donald E Hatfield Erkko Autio Juan Santalo Luca Pirolo Enzo Peruffo Margit Osterloh Kerrie O’Sullivan Pierre Dussauge Zenlin Kwee Witold Henisz Paul Godfrey Philippe Byosiere Helen Wei Hu Michael Valente Garry Bruton Michael Devaughn Elie Matta Karen Schnatterly Marco Huesch Hakan Ener Jeremy Marcel Weilei (Stone) Shi Tammy E Beck Marc Jones Sotirios Paroutis Lucia Marchegiani Daniel Grönquist Ruth Clarke Malte Brettel Bertrand Quelin Manuela Batul Giangrande Frederic Leroy Alvaro Espejo Asli Colpan Pia Hurmelinna-Laukkanen Chih-Pin Lin Asda Chintakananda Ming-Jer Chen Terry Porter Steve Gove Anja Tuschke Annique Un Parthiban David Karl-Heinz Leitner Tina Claudia Ambos Chunli Zhao Florian Hotz Steven Floyd Riccardo Vecchiato Mario Schijven Mitja Ruzzier Bostjan Antoncic Felipe Monteiro Paul Baines Casper Van der Veen Riitta Katila Marvin Lieberman Lilla Hortovanyi Alexander Falkenberg Ana Elisa Iglesias Massimo Colombo Deepak Sethi Linda Tegarden Hun Lee Deepak Somaya Frank Rothaermel Riku Österman Tony Tong Sharon Alvarez Sharon D. James Han-Lin Li Johan Wallin Viva Bartkus Steven McGuire Thomas P. Moliterno Morten Huse Masoud Yasai-Ardekani Kimberly Ellis Kirill Yurov Linda Walstra Kyeng-Eun Kim Bodo B Schlegelmilch Peter Sicher Tomi Haapaniemi Marilyn Taylor Andrew Sangster Johann Peter Murmann Manisha Singal Howard Thomas Gerry McNamara Ikenna Uzuegbunam Robert Strom William Judge Xavier Castaner Akbar Zaheer Louise Nemanich Flora Ferlic Gerrit Willem Ziggers Richard McGowan Jay Barney Thomas Lawton Heike Rindfleisch Alexander Zimmermann John Isaksen Maureen Meadows Fabian Homberg Aramburu Goya Jose Mata Mata Justin Jansen Barnas Nothnagel Dror Etzion Sebastian Raisch Urs Peter Jäger Yoon Suk Baik Dennis Yao Roberto Ragozzino Heechun Kim Susan Perkins Willow Sheremata PuayKhoon Toh Philip Bromiley Joan Penner-Hahn John F Mahon Yue Zhou Ronald Klingebiel Helen Rothberg Tandy Dilworth Vernon Bachor Jeffrey Reuer Marjorie Lyles Paul Drnevich Brian Connelly Miguel Ramos Tyson Mackey Warren Miller Christine Shropshire Naga Lakshmi Damaraju Kai-Yu Hsieh Michael Leiblein Marc Thompson Rafael Ramirez Susan Segal-Horn Amit Jain Markus Menz John Horn Alison Mackey Anu Wadhwa Bradley Staats Stephen In-Ho Kim Nikolaos Kavadis Michael A. Hitt Gyeong Mook Kim Paul Vlaar Bruce Gurd Michael Byung-Yoon Lee Lalit Manral Robert Hoskisson Anne Parmigiani Anatoly Kandel William Newburry Marcus Osborn Rita McGrath Xia Zhao Christoph Lechner Nicholas O‘Regan Robert Wood Yu Shih Lee Gautam Ahuja Toru Yoshikawa Gary Dushnitsky John Bell Tzu-Ju Ann Peng Jean-Philippe Bonardi Todd Alessandri Kaan Sonpar Jason Park Dong Chen Monica Nakielski Timo Santalainen Patricia Klarner Chiyoge B Sifa Vikas Aggarwal Julie Feickert Govert Vroom Arik Lifschitz Hugh Courtney Marta Ortiz-de-Urbina-Criado Edgar Hutte Luis AngelT Guerras-Martinhe Pao-Lien Chen Chris Tuggle Saikat Chaudhuri Seemantini Pathak Joan E. Ricart Thomas Mellewigt Yan Ling Francisco Polidoro Samia Belaounia Carolin Decker Shad Morris Niklas Hallberg Donde A Plowman Constanta Mindruta Lois Shelton Shih-chi Chiu Vitor Gonçalves Richard Johnson John Hagedoorn Stephen B Tallman Ebony Bridwell-Mitchell Rajshree Agarwal Frithjof Pils Maria Isabella Leone Tim Andrews Christian Seelos Edward Kasabov Zeki Simsek Alvaro Cuervo-Cazurra Ajit Prasad Yolanda Sarason Jason Pattit Nan Jia Catherine Maritan Gideon Markman Candace Martinez Tina Dacin Carmen Weigelt Michele E Yoder Lars Schweizer Duane Ireland Jay Lee Nils Plambeck Gianluca Elia Aldo Romano Stefan Gueldenberg Passiante Giuseppina Michael Lubatkin Prashant Kale Laurence Capron Alexander Alscher Anne Fuller Frank Butler Josune Saenz Richard Reed Martin Ganco Michael Lenox Steven Boivie Tomi Laamanen Santiago Mingo Fariss-Terry Mousa Mike Peng Beverly Tyler Chuck Bamford Stuart Horsburgh Mina Lee Shalei Simms Theodore Khoury Robert Wright Patrick Gibbons Annette Ranft Bennet Zelner Thomas Fritz Klaus Meyer Björn Ambos Margaret Cording Usha Haley Jennifer Woolley Dovev Lavie Francisca Silva Margaret DalzielC Ana Pérez-hallengesLuño Basak Yakis-Douglas Eli Segev Kim-Chi Wakefield TrinhMartin Kunc Michael Mannor Edward Desmarais Luca Berchicci Jonathan Doh Andrew King Derek Ruth Idalene Kesner Bridgette Sullivan-Taylor Bente R. Lowendahl Alva Taylor Laura Costanzo Paul Knott Mark Kriger Kirsten Foss George Wright Livia Markoczy Sylvia Maxfield David King Daniel Degravel Hannes Pichler Sarah Dixon Rajiv Nag Anna Nadolska Sanjay Jain David Seidl Rafael Corredoira Benjamin Campbell Vivek Tandon Justin Davis Bill Wooldridge Samina Karim Simona Giorgi MB Sarkar Øystein Fjeldstad Kevin Boudreau Florian Bertram Stéphane Girod Michel Ghertman Christian Lechner Cristina M Longo Leif Melin Marco Romano Carmela Elita Schillaci Hsin-Mei Lin John McGee Julian Lowe Olof Brunninge Doug Schuler Thomas Brush Maria Gabriela Utrera Manish Srivastava David Benson Hart Posen Sam Ransbotham Andreas Hinterhuber Michael Ciuchta Jamal Shamsie Changqi Wu Nile Hatch Daniel H Simon Andrew Watson Mark Hansen Dawn Harris Sotiris Rompas Allegre Hadida Paul Olk Gabriel Szulanski Xiang Nong Song Bahman Ebrahimi Jared Harris Rosario Faraci Brian McCann David Croson Steven Postrel Daphne Yiu Randi Lunnan Denis Lacoste Koen Heimerikos Simone Ferrianif R ichardN Yu Yuan Hungon-Mar Irem Demirkan Shyam Kumar Adrian Caldart Sudi Sudarsanakm Erik Wetteret Sverre Tomassen Luiz Mesquita Michele Simoni Sonya Wen Antoine Hermens Mariko Sakakibara Ulas Burkay Bernard Garrette Kamel Mellahi Xiaoying Li Antoinette Weibel Rudi K F Bresser Katja Rost Kang-Ning Xia Martin Inganäs Christian Powalla Thorsten Teichert Xavier Martin Christiane Prange David Major Curba M Lampert Fredrik Tell Yan Zhang James Robins Paul Bilsdorfer R. Scott Livengood Rui Baptista Joseph T Mahoney Petra Christmann Sujin Han Michelle Chen Jeff Dyer Fabrice Lumineau Mark Washburn Elena Novelli Alfred Marcus Duncan Angwin Dodo zu Knyphausen-Aufsess Esther Solomon Quy Huy Edward Zajac Curtis Moore Philipp Zimmermann Dimo Dimov Carsten Zimmermann Hadi Alhorr Aviad Pe‘er Manuela Presutti Will Lamb Carlos Rufin Jorge Walter Felipe Csaszar Werner Hoffmann Christoph Zott Akie Iriyama David Bryce Andrew Hess Ravi Madhavan Bertrand Monnet Rhonda Reger Aurélien Eminet Jimmy Brown Salvatore Vicari Valerie Claude-Gaudillat Gianmario Verona Devendra Singh Xin Li Pei Sun Paulina Junni Tom Elfring Duncan Robertson Christian Goeke James Davis Sari Stenfors Annette Biedermann Patrick ReinmoellerIn Renee Rottnerf Tholuencesmas Durand Jean McGuire Ilya Cuypers Page West Avraham Meshulach Guoli Chen Ilya Okhmatovskiy Reynaldo Valle Thiele Amy Hillman David Sirmon Moacir Oliveira Jr. Joan Allatta Srilata Zaheer Thomas Keil George Yip Rita Shea-Van Fossen Jun Li Miguel Angel Campo-Rembado Abhijit Mandal Laura Cardinal Wouter Stam Ansgar Richter Christoph Grimpe Anthony Sadler Wolfgang Sofka Rafael Lucea Stephen Gates Turanay Caner Christian Stadler Tina Bratkovic Jennifer Chen Philippe Very Terence Fan Roberto Garcia-Castro Torben Juul Andersen Valerie Moatti Wolfgang H Guettel Peter Jaeger Zeynep Erden Francisco Gonçalves Toyah Miller Andrea Lanza Jamie Collins Anuja Gupta Lawrence Plummer Liisa Valikangas Stephen Chen Thomas Clarke Dara Szyliowicz Haim Kedar-Levy Anna Jonsson Herbert Kimura Vinh Chau Chamu Sundaramurthy Peng Zhao Markus Fitza Robert White Monia Mtar Kerem Gurses Louis Hébert Corey Phelps Devi Gnyawali Roland Szabo Inga Voss Hong Zhu Margaret White Taco Reus Nir Brueller Subrata Chakrabarty Brian Boyd Qing Cao Giovanni Battista Dagnino Daniel Tzabbar Daniela Blettner Patrick Maggitti Takashi Hikino Richard Bettis Aylin Ates Elisa Alvarez-Garrido Gabriel R G Benito Howard Vineyon Christina Lindskog Krsto PandzaMar Naomi Gardberg Scott Rockartk Margaretheet Wiersema David Stiles Donald E Hatfield Erkko Autio Juan Santalo Luca Pirolo Enzo Peruffo Margit Osterloh Kerrie O’Sullivan Pierre Dussauge Zenlin Kwee Witold Henisz Paul Godfrey Philippe Byosiere Helen Wei Hu Michael Valente Garry Bruton Michael Devaughn Elie Matta Karen Schnatterly Marco Huesch Hakan Ener Jeremy Marcel Weilei (Stone) Shi Tammy E Beck Marc Jones Sotirios Paroutis Lucia Marchegiani Daniel Grönquist Ruth Clarke Malte Brettel Bertrand Quelin Manuela Batul Giangrande Frederic Leroy Alvaro Espejo Asli Colpan Pia Hurmelinna-Laukkanen Chih-Pin Lin Asda Chintakananda Ming-Jer Chen Terry Porter Steve Gove Anja Tuschke Annique Un Parthiban David Karl-Heinz Leitner Tina Claudia Ambos Chunli Zhao Florian Hotz Steven Floyd Riccardo Vecchiato Mario Schijven Mitja Ruzzier Bostjan Antoncic Felipe Monteiro Paul Baines Casper Van der Veen Riitta Katila Marvin Lieberman Lilla Hortovanyi Alexander Falkenberg Ana Elisa Iglesias Massimo Colombo Deepak Sethi Linda Tegarden Hun Lee Deepak Somaya Frank Rothaermel Riku Österman Tony Tong Sharon Alvarez Sharon D. James Han-Lin Li Johan Wallin Viva Bartkus Steven McGuire Thomas P. Moliterno MortenS Husetrategies Masoud Yasai-Ardekani Kimberly Ellis Kirill Yurov Linda Walstra Kyeng-Eun Kim Bodo B Schlegelmilch Peter Sicher Tomi Haapaniemi Marilyn Taylor Andrew Sangster Johann Peter Murmann Manisha Singal Howard Thomas Gerry McNamara Ikenna Uzuegbunam Robert Strom William Judge Xavier Castaner Akbar Zaheer Louise Nemanich Flora Ferlic Gerrit Willem Ziggers Richard McGowan Jay Barney Thomas Lawton Heike Rindfleisch Alexander Zimmermann John Isaksen Maureen Meadows Fabian Homberg Aramburu Goya Jose Mata Mata Justin Jansen Barnas Nothnagel Dror Etzion Sebastian Raisch Urs Peter Jäger Yoon Suk Baik Dennis Yao Roberto Ragozzino Heechun Kim Susan Perkins Willow Sheremata PuayKhoon Toh Philip Bromiley Joan Penner-Hahn John F Mahon Yue Zhou Ronald Klingebiel Helen Rothberg Tandy Dilworth Vernon Bachor Jeffrey Reuer Marjorie Lyles Paul Drnevich Brian Connelly Miguel Ramos Tyson Mackey Warren Miller Christine Shropshire Naga Lakshmi Damaraju Kai-Yu Hsieh Michael Leiblein Marc Thompson Rafael Ramirez Susan Segal-Horn Amit Jain Markus Menz John Horn Alison Mackey Anu Wadhwa Bradleystrategic Staats Stephen In-H o mKim anage Nikolaos Kavadism Michaelent A. H ittsociety Gyeong Mook Kim Paul Vlaar Bruce Gurd Michael Byung-Yoon Lee Lalit Manral Robert Hoskisson Anne Parmigiani Anatoly Kandel William Newburry Marcus Osborn Rita McGrath Xia Zhao Christoph Lechner Nicholas O‘Regan Robert Wood Yu Shih Lee Gautam Ahuja Toru Yoshikawa Gary Dushnitsky John Bell Tzu-Ju Ann Peng Jean-Philippe Bonardi Todd Alessandri Kaan27th Sonpar annual Jason Park Dong international Chen Monica Nakielski Timo Santalainen con f Patriciaerence Klarner Chiyoge B Sifa Vikas Aggarwal Julie Feickert Govert Vroom Arik Lifschitz Hugh Courtney Marta Ortiz-de-Urbina-Criado Edgar Hutte Luis Angel Guerras-Martin Pao-Lien Chen Chris Tuggle Saikat Chaudhuri Seemantini Pathak Joan E. Ricart Thomas Mellewigt Yan Ling Francisco Polidoro Samia Belaounia Carolin Decker Shad Morris Niklas Hallberg Donde A Plowman Constanta Mindruta Lois Shelton Shih-chi Chiu Vitor Gonçalves Richard Johnson John Hagedoorn Stephen B Tallman Ebony Bridwell-Mitchell Rajshree Agarwal Frithjof Pils Maria Isabella Leone Tim Andrews Christian Seelos Edward Kasabov Zeki Simsek Alvaro Cuervo-Cazurra Ajit Prasad Yolanda Sarason Jason Pattit Nan Jia Catherine Maritan Gideon Markman Candace Martinez Tina Dacin Carmen Weigelt Michele E Yoder Lars Schweizer Duane Ireland Jay Lee Nils Plambeck Gianluca Elia Aldo Romano Stefan Gueldenberg Passiante Giuseppina Michael Lubatkin Prashant Kale Laurence Capron Alexander Alscher Anne Fuller Frank Butler Josune Saenz Richard Reed Martin Ganco Michael Lenox Steven Boivie Tomi Laamanen Santiago Mingo Fariss-Terry Mousa Mike Peng Beverly Tyler Chuck Bamford Stuart Horsburgh Mina Lee Shalei Simms Theodore Khoury Robert Wright Patrick Gibbons Annette Ranft Bennet Zelner Thomas Fritz Klaus Meyer Björn Ambos Margaret Cording Usha Haley Jennifer Woolley Dovev Lavie Francisca Silva Margaret Dalziel Ana Pérez-Luño Basak Yakis-Douglas Eli Segev Kim-Chi Wakefield Trinh c o n F e r e n c e P r o g r a M
san diego, california october 14–17, 2007 table of contents
Welcome...... 3
About the Strategic Management Society...... 5
Conference Tracks...... 7
Past Conferences...... 8
2007 Awards...... 9
Conference Paper Awards...... 10
Conference Information...... 12
2007 SMS Review Committee...... 13
Conference at a Glance...... 14
Hotel Maps...... 15
My Schedule Overview...... 16
y a d n u s Sunday Sessions...... 18
Monday Sessions...... 25
Tuesday Sessions...... 62
Wednesday Sessions...... 96
Presenter Index...... 115
Exhibitors...... 117
Sponsors...... 118
SMS 27th Annual International Conference The Challenges of Non-Market Influences on Market Strategies
My Esteemed Colleagues: excellence in teaching track. Once again, we have enjoyed record interest in the conference and its theme. A total of 176 reviewers Welcome to sunny Southern California! The City of San Diego is from the seven Interest Groups reviewed above 800 submissions. pleased to host the 27th Annual International Conference of the The process of putting together this year’s program has benefited Strategic Management Society (SMS). enormously from the participation of the Program Chairs of the The themes of SMS conferences over the years have sought to focus Interest Groups, Duncan Angwin, David Audretsch, Mark Kriger, on topics that were novel, yet of enduring interest to academics, Bente Lowendahl, Xavier Martin, Mike Peng, and Margarethe practitioners and consultants. I am confident that this year’s theme Wiersema, as well as the active participation of Thomas Mellewigt continues that tradition. of the Free University Berlin, who serves as Associate Program Chair and will assume Program Chair duties next year in Köln, Sessions at this year’s conference will focus broadly on issues such as Germany. We all owe an enormous debt of gratitude to these many Market and Non-Market Strategies and Globalization, Competitive individuals as well as to the Interest Group leadership. Collectively, Strategies, Global Strategies, Knowledge and Innovation and the they are the backbone of the Society and they have made this year’s Practice of Strategy. Other sessions will focus on relationships program possible. between the conference theme and strategy process, corporate strategy and governance, and entrepreneurship and strategy. As has been the case in the past, again this year a number of papers These are topics which, when combined with the influences of non- have been selected as finalists for the SMS Best Conference Paper market forces, can produce discussions charged with sociological, Prize, the new SMS Best Paper for Practice Implications Prize, and political, ethical as well as economic debates. As has been the case the Booz Allen Hamilton / Strategic Management Society PhD in the past, I am certain that you will find these debates open, Fellowship awards. The finalists are highlighted in the program constructive, and grounded in sound theory and rigorous empirical booklet and we urge you to seek out their presentations. research. The goal of the conference is to foster an exchange of ideas among The structure of the conference program keeps faith with the past, professionals in the field of strategic management. I sincerely while continuing the practice of recent years to introduce new hope that each of you here in San Diego will be able to take program elements. In this year’s conference the highly successful full advantage of the hard work of those who put together the innovation of common ground sessions, employed for the first program. Those individuals who are on the program have provided time in. 006 in Vienna at the close of the program on Monday us with a wide variety of ideas to be debated. The same goes for and Tuesday, becomes fully integrated into the program. And the the plenary speakers, the common ground facilitators, competitive San Diego program witnesses the introduction of a new initiative paper session chairs and discussants, reviewers, Interest Group focused on Excellence in Teaching, ably guided by Idie Kessner of leadership, SMS Board members and very specially, the Society’s Indiana University. It not only finds its way into the competitive Executive Office staff whose guidance insured that none of my part of the program but also into that part of the program in which missteps produced serious flaws in the program. attendees meet in plenary session. Enjoy San Diego, have fun, take advantage of the learning This year’s plenary sessions will also enable those in attendance in environment provided by the Society and its membership. San Diego to hear, among others, from distinguished practitioners and scholars such as Martin Coles (COO, Starbucks), Jonathan Murray (Microsoft), Timo Ali-Vehmas (Nokia), C.K. Prahalad (University of Michigan), and David Baron (Stanford University). Peter Smith Ring This year’s competitive program will offer those present in San Conference Program Chair Diego 72 paper and 35 common ground sessions, organized around Loyola Marymount University three conference theme tracks, seven Interest Group tracks and the
San Diego | October 14-17 2007 Dear Conference Attendee: A warm welcome to the 2007 San Diego Conference! We are very happy to have you here for the 27th Annual Meeting of the Strategic Management Society. You will have the opportunity to attend sessions presenting a broad spectrum of current research. Our Interest Groups have done an excellent job of evaluating and selecting the best papers for presentation. Furthermore, Peter Ring, our Conference Program Chair, has developed a set of interesting and exciting plenary sessions. We are enthusiastic about the new Teaching Initiative and the sessions offered in that Track. Finally, San Diego is a great location for the conference offering many opportunities for enjoyment before and after the conference.
Besides this conference, a lot of other exciting things are being undertaken in our Society as well and we invite you to learn more about them: We have developed and are now implementing a new scholarly journal, the Strategic Entrepreneurship Journal, to enhance the value provided to our members and to continue to make contributions to the field. The new journal had a Launch Conference near Chicago this summer. We had an excellent group of papers and participants that made this an exciting and valuable conference. The papers presented at this conference will be developed further and will soon appear in the first volume of the Strategic Entrepreneurship Journal. We have initiated a new award to recognize an Emerging Scholar; our first recipient of the award has been selected and his research will be highlighted during this conference. We’re delighted with this award, and look forward to annually recognizing outstanding young scholars who are making important contributions to the y a d n u s field of strategic management in future years. Recently, we completed two highly successful Special Conferences. The event in Italy focused primarily on entrepreneurship and strategy and had participants from throughout Europe and other parts of the world. The second event in Shanghai focused on strategies employed by Chinese and foreign firms operating in Chinese markets. It also was highly successful with a large number of participants from China, other Asian countries, North America, and Europe. Again, a warm welcome to our meeting and enjoy your days in San Diego!
Michael Hitt Nikolaus Pelka President Executive Director
SMS 27th Annual International Conference About the Strategic Management Society
A Professional Society for the Advancement of Strategic Management
The Strategic Management Society (SMS) is unique in bringing SMS Interest Groups (IG) The primary purpose of the Interest together the worlds of reflective practice and thoughtful scholarship. Groups within the SMS is to act as a catalyst for building and The Society consists of more than 2,000 members representing a disseminating new ideas in research, practice and teaching around kaleidoscope of backgrounds and perspectives from more than fifty a set of core issues in strategic management. Each Interest Group different countries. Membership, composed of academics, business recognizes a major, individual stream of practice and research practitioners, and consultants, focuses on the development and interest, and intents to serve the needs of members with special dissemination of insights on the strategic management process, as interests in this stream of work. Members of the SMS can elect to join up to two Groups of their choice. well as on fostering contacts and interchange around the world.
As an organization that depends upon volunteer help from its members, the SMS is Corporate Strategy & Governance interested in anyone who wants to make a contribution to the field through the various activities of the SMS. Entrepreneurship & Strategy Knowledge & Innovation
History: The Strategic Management Society Strategic Management Society Interest Groups was founded at an initial meeting in London in 1981, founding officers were elected on a second conference held in Montreal in 1982, Competitive Strategy Practice of Strategy and the founding constitution was drawn and approved at the third meeting in Paris Strategy Process Global Strategy in 1983. There were 459 original founding members of the society.
Publications Meetings
The Strategic Management Society is proud to be involved The SMS holds an annual meeting at various sites around with Wiley & Blackwell in the publication of leading journals the world, typically alternating between North America and innovative books, which for more than 25 years have been and Europe; past locations include Amsterdam, Baltimore, vital tools for the benefit of researchers and practitioners in Barcelona, Berlin, Boston, Chicago, London, Mexico City, the field. Montreal, Orlando, Paris, Philadelphia, Phoenix, San Francisco, The Strategic Management Journal (SMJ) has since its inception San Juan, Singapore, Stockholm, Toronto, Vancouver, and in 1980 been the official journal of the Strategic Management most recently Vienna. Society. This A journal is consistently rated one of the top Each conference addresses a current theme, with specific publications in the management area. tracks addressing sub-themes, and presents multiple sessions We are pleased to announce the launch of a new quarterly by leading experts in the field from around the world. The journal, the Strategic Entrepreneurship Journal (SEJ). The SMS has responded to membership interest in special topics intent is for the SEJ to also become a Class A journal and for it through its introduction of a series of smaller, regionally based to promote the development and dissemination of advances in meetings addressing more specific industry or subject themes. the field by maintaining the highest standards of intellectual thought combined with practical relevance, just as its sister publication, the SMJ has done for many years. The SMS Book Series focuses on cutting edge concepts/topics in strategic management theory and practice. The books emphasize building and maintaining bridges between theory and practice. They generate and test theories of strategic management and demonstrate how to learn, understand and apply these theories in practice.
San Diego | October 14-17 2007 About the Strategic Management Society
2007 SMS Board of Directors
Michael A Hitt Robert E Hoskisson Texas A&M University Arizona State University President Term 2007
Joan E Ricart Jan P Oosterveld IESE-University of Navarra IESE-University of Navarra President-Elect Term 2007
Richard A Bettis Carolyn Y Woo University of North Carolina University of Notre Dame Past President Term 2007
Dan Schendel Jay B Barney Purdue University Ohio State University y a d n u s Treasurer Term 2008
Nikolaus Pelka Will G Mitchell Duke University Strategic Management Society Term 2008 Executive Director
Margarethe Wiersema University of California-Irvine Term 2008
SMS 27th Annual International Conference Conference Tracks
The design of the three-day conference is focused on the “tracks” or themes, which are presented concurrently on all three days of the conference as panel, paper, or “common ground” sessions split into overlapping clusters of topical themes:
Conference Theme Tracks Interest Group Tracks
A - Market and Non-Market Strategies E - Competitive Strategy and Globalization F - Corporate Strategy and Governance B - Non-Market Strategies and G - Global Strategy Ownership Forms H - Strategy Process C - Scorecards for Non-Market Strategies I - Knowledge and Innovation D - General J - The Practice of Strategy K - Entrepreneurship & Strategy
It is the primary objective of the SMS conference to provide opportunities for discussion and development of the latest research ideas in strategy. This is consistent with the practice of evaluating proposals rather than finished papers. In this spirit of discussion and development, we work with two session formats for proposal presentations:
Still new: Common Ground Sessions Paper Sessions The “Common Ground” sessions provide an improved opportunity The traditional Paper Sessions provide an opportunity for authors for authors and audience members to interact more directly around to present their research in a comprehensive fashion and aided by a number of papers in a related theme. multimedia equipment, followed by interaction between authors and audience on a number of papers in a related theme. • For the San Diego Conference we are planning a total of 35 common ground sessions, each will be 1 hour 15 minutes. • For the San Diego Conference we are planning a total of 72 • A common ground session is constituted of at least one author paper sessions, each will be 1 hour 15 minutes. of 5-6 proposals, a facilitator, and audience members. • A paper session is constituted of at least one author of 3-4 • The Common Ground sessions will be chaired and facilitated proposals, a session chair, and audience members. Often times, by known scholars in the session’s topic. It is the responsibility the session chair will be one of the presenting authors. of these facilitators to allocate time among participants and • Each presenting author will have 12-15 minutes for their lead a productive discussion. presentation, depending on the number of presentations • We have integrated common ground sessions more fully into within the session. The remaining time will be used for the regular program, where they will now run in parallel with discussion. paper sessions throughout Monday, Tuesday and Wednesday. • Each session room will have a LCD projector available. • To ensure sufficient time for interaction, the facilitator will • Presenters were invited to upload their paper and/or their ask for an initial 3-4 minutes summary presentation of a presentation and make it available for download to other presenter’s study focusing only on the main motivations and conference attendees. findings of each paper. We want the time to be structured as a conversation (i.e., short interventions, highly interactive), not as a sequence of monologues. • Overhead projectors or PowerPoint presentations will not be used. Flipcharts will be available in each room to facilitate visual discussion. Authors, however, were encouraged to make available for download or bring to the session a one-page summary of their theory or their findings, as the case may be. This handout may contain an executive summary of the paper, some figures or tables that are important, or some PowerPoint slides printed in handout form. These handouts will be the main visual aids used during these short presentations.
San Diego | October 14-17 2007 Past Conferences
1981 london 1995 Mexico City “Global Strategic Management in the 1980’s” “Strategic Discovery: Opening New Worlds” Program Chairs: Derek Channon & Hugh Parker Program Chair: Raul Alvarado
1982 Montreal 1996 phoenix “Exploring the Strategy-Making Process” “Competing in the New Economy: Managing Out of Bounds” Program Chairs: Henry Mintzberg & Marianne Jelinek Program Chairs: Gary Hamel & C K Prahalad
1983 paris 1997 barcelona “Making Strategy Work” “Managing in an Interconnected World” Program Chair: Dominiquie Heau Program Chair: Joan E Ricart
1984 philadelphia 1998 orlando “Targeting Strategies” “Tailoring Strategy – One Size Does Not Fit All” Program Chair: Peter Lorange Program Chair: Kevin Coyne
1985 barcelona 1999 berlin “The Essence of Strategic Management” “Winning Strategies in a Deconstructing World” Program Chair: Eduard Ballarin Program Chairs: Dieter Heuskel & Rudi K F Bresser
1986 sIngapore 2000 Vancouver “Cultures and Competitive Strategies” “Strategy in the Entrepreneurial Millennium: New Winners, Program Chairs: Peter FitzRoy & Gordon Redding New Business Models, New Voices” Program Co-Chairs: Raffi Amit, Charles E Lucier & Bertrand G 1987 boston Shelton “Strategy: Prospect and Retrospect” Program Chairs: Joseph Bower & Andrall Pearson 2001 san Francisco “Reinventing Strategic Management – 1988 aMsterdam Old Truths and New Insights” “Winning Strategies for the 1990’s” Program Co-Chairs: Rich Bettis & Derek Dean Program Chair: Jan Eppink
y a d n u s 2002 paris 1989 san Francisco “Old Barriers Crumbling, New Barriers Rising” “Strategies for Innovation” Program Co-Chairs: René Abate & Karel Cool Program Chair: Robert Harris 2003 baltimore 1990 stockholm “Intersections: Strategy Across Conventional Bounderies” “Strategic Bridging: To Meet the Challenges of the Nineties” Program Co-Chairs: Rita Gunther McGrath & Bertrand G Shelton Program Chairs: Leif Melin & Hans-Olof Hagén 2004 san JUAN 1991 toronto “Strategic Balance: Driving Innovation And Maintaining “The Greening of Strategy – Sustaining Performance” Performance” Program Chairs: David Hurst & Rod White Program Co-Chairs: Patricia Gorman Clifford & Steven W Floyd
1992 london 2005 orlando “Strategic Renaissance: The Transformation of Economic “Strategic Management: Achievements And Opportunities” Enterprise” Program Co-Chairs: Irene M Duhaime & Carl W Stern; Associate Program Chair: James Kelly Chair: Javier Gimeno
1993 chicago 2006 Vienna “Integrating Strategy” “Strategy and Governance in a World of Institutional Change” Program Chair: Edward Zajac Program Co-Chairs: Javier Gimeno & Jens Schaedler; Associate Chair: Peter Ring 1994 paris “Strategy Styles: Management Systems, Types and Paradigms” Program Chair: Michel Ghertman
SMS 27th Annual International Conference 2007 Awards
All award winners will be announced and recognized during the Tuesday Awards Luncheon. . Visit the SMS Website (www.strategicmanagement.net) for a complete list of past winners.
Strategic Management Journal Best Paper Prize SMS Best Conference Paper Prize for Practice Implications In 1993, some thirteen years after the Strategic Management Journal was launched, an annual best paper prize was established by co- This award was inaugurated following the initiative of the Practice sponsors John Wiley & Sons and the Strategic Management Society of Strategy Interest Group and is co-sponsored by the publishing to honor substantial work published in the SMJ. The award is for a house Wiley-Blackwell. Nominated authors are invited to submit paper published five or more years prior to the citation itself. This a full version of their submitted proposal for consideration by the delay allows time for the impact of papers to be assessed in terms committee. These papers are reviewed and 5 finalists are named of citations and influence of the paper on teaching, research, and/ prior to the conference. The primary criterion for this prize is or practice. Once eligible, a paper remains eligible until selected practitioner relevance. At the margin some weight may also be as the best paper. Continued eligibility allows recognition to be given to practitioner (co-) authorship or research sponsorship made for those insights and findings that sometimes occur before and funding. The Prize for the best conference paper for practice their time and only become widely recognized as significant until implications consists of a US$ 1000 cash award. other work is published. Authors of the winning paper receive a monetary award of US$ 5,000. Booz Allen Hamilton/ Strategic Management Society PhD Fellowship SMS Emerging Scholar Award The SMS together with Booz Allen Hamilton (BAH) created this Inaugurated in 2007, the prize is awarded annually to a relatively award in. 000 in recognition of a PhD students’ presentation of young or new scholar, who displays exemplary scholarship in an outstanding paper at the SMS Annual International conference. research, education, and related academic activities that seek to The Award is granted to a PhD candidate who is the primary author improve current strategic management practice. The criteria for this of an accepted proposal for the conference and enrolled during award recognizes a portfolio of work that suggests the candidate the current academic year at their PhD granting institution. PhD will make fundamental contributions to the way we think about candidates are invited to submit a full version of their submitted knowledge essential to achieving durable organizational success. proposal for consideration by the review committee. Five winners Eligible to be nominated are members of the SMS. The likely winner are honored as Booz Allen Hamilton/ Strategic Management Society of the award will be under the age of 40 with at least 5 years since PhD Fellows and will receive awards of US$ 1,500 each. his/her PhD, and have a record of publication and professional activity that has demonstrated their work to be significant and with impact. The recipient of this Award will receive US$ 5,000 and has the opportunity to present his research at the SMS Annual Friend of the SMS International Conference. To distinguish those who have contributed over the years and have become pillars of our Society, in. 006 the recognition as Friend SMS Best Conference Paper Prize of the SMS was introduced to the conference. Recognized are conference attendees, who either have been SMS members for 20 The Strategic Management Society first presented this prize in 1998 or more years, attended 10 or more annual conferences, served as to honor the best paper presented at the SMS Annual International a program chair of a past conference, served as a Board member Conference. Nominated authors are invited to submit a full version of the Society, or have been elected to the Fellows Group within of their submitted proposal. These papers are reviewed and 10 the SMS. finalists are named prior to the conference. Decisions are mainly based on the soundness of the conceptual development, the As a sign of recognition and appreciation, a golden SMS logo is originality and application of the appropriate methodology. The added to the conference name badges of these individuals. The Prize for the best conference paper consists of a US$ 1,500 cash names of the Friends of the SMS are also displayed during the award. In addition, four other papers receive Honorable Mention program intermissions on the projection screens of the plenary hall prizes consisting of a US$ 750 cash award. at the conference.
San Diego | October 14-17 2007 conference paper awards
SMS Best Conference Paper Prize
The following ten papers have been nominated for this award. You will find these ten presentations indicated throughout the program on Monday. The winners will be announced at the Tuesday Awards Luncheon.
MONDAY MONDAY 10:30 – 11:45 10:30 – 11:45 Influence Of Core-Competencies On The Relationship Between Building Improvisation Capability In R&D Teams Co-Alignment Variables And Firm Performance louise Nemanich, Arizona State University chiyoge B. Sifa, Africa Nazarene University Dusya Vera, University of Houston
MONDAY MONDAY 10:30 – 11:45 13:15 – 14:30 Tango Of Strategy And Intuition Under Uncertainty Effects Of Business Group And Global Institutional Ownership On anatoly Kandel, Caldwell College R&D Investments Among Korean Technology Firms young-Rok Choi, Singapore Management University Toru Yoshikawa, McMaster University MONDAY Shaker Zahra, University of Minnesota 10:30 – 11:45 Bong Heui Han, Ajou University Political Institution Embeddedness And Market Leadership: Evidence From The Chinese Automobile Industry (1984-2005) pei Sun, University of Nottingham MONDAY Kamel Mellahi, University of Sheffield 17:30 – 18:45 Eric Thun, University of Oxford Dynamic Capabilities And The Ambidextrous Organization: Empirical Results From Research-Intensive Firms Wolfgang Güttel, Vienna University of Economics & MONDAY Business Administration Stefan Konlechner, Vienna University of Economics & 10:30 – 11:45 Business Administration The Different Performance Impacts Of Employee Mobility Between Competitors And Cooperators y a d n u s Deepak Somaya, University of Maryland Ian Williamson, University of Melbourne MONDAY Natalia Lorinkova, University of Maryland 17:30 – 18:45 Gender Diversity In United States Top Management: Impact On Risk-Taking And Acquirer Performance MONDAY sudi Sudarsanam, Cranfield University 10:30 – 11:45 Jian Huang, Cranfield University Cracking The Code: The Joint Importance Of Experience Homogeneity And Heterogeneity In Acquisition Capability Development MONDAY Mario Schijven, Texas A&M University 17:30 – 18:45 Harry Barkema, Tilburg University Knowing When To Acquire: The Relation Between Acquisition Timing And Price In High Technology Acquisitions nir Brueller, Tel Aviv University Shmuel Ellis, Tel Aviv University Eli Segev, Tel Aviv University
1 0 SMS 27th Annual International Conference conference paper awards
SMS Best Conference Paper for Practice Implications Award
The following five papers have been nominated for this award. You will find these five presentations indicated throughout the program on Monday. The winners will be announced at the Tuesday Awards Luncheon.
MONDAY MONDAY 10:30 – 11:45 13:15 – 14:30 Evolutions Of Organizational Structure In The Internationalization The Managerial Knowledge-Base Underlying The Process Of Of Banks: The Case Of UniCredit Group In CEE Strategic Renewal Tina Claudia Ambos, Vienna University of Economics & Bill Wooldridge, University of Massachusetts-Amherst Business Administration Steven Floyd, University of St. Gallen Bodo B. Schlegelmilch, Vienna University of Economics & Business Administration Björn Ambos, Vienna University of Economics & Business MONDAY Administration 13:15 – 14:30 Barbara Brenner, Vienna University of Economics & Do Strategy Workshops Produce Strategic Change? Business Administration Robert MacIntosh, University of Glasgow Donald Maclean, University of Glasgow David Seidl, University of Munich MONDAY 10:30 – 11:45 Profitable Business Models And Market Creation In The Context MONDAY Of Deep Poverty: A Strategic View 17:30 – 18:45 Christian Seelos, IESE Business School- University of Strategic Foresight: Investigating Market And Non-Market Drivers Navarra Of Change In Corporate Organizations Johanna Mair, IESE Business School- University of Navarra Claudio Roveda, Polytechnic of Milan Riccardo Vecchiato, Polytechnic of Milan
Booz Allen Hamilton/STRATEGIC MANAGEMENT SOCIETY PhD Fellowship
The following five PhD primary authors have been nominated for this award. You will find the five presentations indicated throughout the program. The winners will be announced at the Tuesday Awards Luncheon.
MONDAY TUESDAY 10:30 – 11:45 14:00 – 15:15 The Learning Paradox: An Observation Of Knowledge Sharing Process And Outcome Measures Of Environmental Performance At IKEA Japan Dror Etzion, IESE Business School-University of Navarra Anna Jonsson, Lund University
WEDNESDAY MONDAY 8:30 – 9:45 10:30 – 11:45 Social Movements, Regulatory Politics, And Technology Evolution Learning From Mergers And Acquisitions: The Roles Of Acquirer Kerem Gurses, IESE business School-University of Navarra And Target Experience Ilya Cuypers, Tilburg University Youtha Cuypers, Tilburg University WEDNESDAY Xavier Martin, Tilburg University 10:15 – 11:30 Delegation Across Borders: The Case Of Multinational Hierarchies Yue Maggie Zhou, University of Michigan
San Diego | October 14-17 2007 1 1 Conference Information
Recommended Dress Paper Exchange Business casual attire is recommended for all conference sessions. We have made upload/download functionality available on the Monday Evening Event conference website and have invited presenters to make their paper available through this mechanism. If presenters have accepted this Our conference takes place in sunny San Diego and on Monday invitation, you will find a download button next to the paper on night we’ll enjoy Sunset San Diego on the Lanai Shoreline area of the particular session page of the conference website. Papers will the Sheraton Hotel & Marina. The dress for this event is business be available for download on the conference website after the casual. conference. Name Badges Internet Café
Attendees must wear name badges at all times to gain admittance The Sheraton Hotel provides a cluster of Internet enabled PCs and to luncheons and evening events and to help ensure a secure a WLAN located on the Ground Level between the reception area environment during the conference. and the Harbor’s Edge restaurant. Access is free of charge and open 24/7. Hardwired Internet access is available for a charge in every Name Tents sleeping room. Presenters on the program receive a name tent as part of their The Business Center registration materials. If you are a presenter, it is your responsibility to bring this name tent with you to your session and to place it in The Sheraton’s full-service Business Center is located on the Ground front of you on the speaker’s table before your presentation. Level near the entrance to the Executive Center meeting rooms. The Center will be open from 08:00–17:00 on Saturday and Sunday No Smoking Policy and 07:00–17:00 Monday thru Wednesday.
In consideration of all attendees, we request that there be no smoking during all sessions and meal functions.
'(#'+ '(#'+ y a d n u s '(#'+ E9JE8;H E9JE8;H E9JE8;H save the date (&&. (&&. (&&. SMS 28TH ANNUAL international CONFERENCE
COLOGNE, GERMANY OCT 12 - 15, 2008 maritim hotel
Program Co-ChairS: Thomas Mellewigt, Freie Universität Berlin 9EBE=D; 9EBE=D; 9EBE=D; Bolko von Oetinger, Boston Consulting Group ICI(.J>7DDK7B ICI(.J>7DDK7B ICI(.J>7DDK7B learn more at ?DJ;HD7J?ED7B ?DJ;HD7J?ED7B ?DJ;HD7J?ED7B cologne.strategicmanagement.net 9 E D < ; H ; D 9 ; 9 E D < ; H ; D 9 ; 9 E D < ; H ; D 9 ;
1 2 SMS 27th Annual International Conference 2007 SMS Review Committee
The individuals listed below worked with this year’s Program Chair, Peter Ring, to select the proposals and compose the sessions for the different conference tracks and pre-conference sessions. We appreciate and gratefully recognize the tremendous amount of time and effort spent making this a successful event.
Rajshree Agarwal Idie Kesner William Newburry Duncan Angwin Mark Kriger Mike Peng David Audretsch Marjorie Lyles Annette Ranft Pamela Barr Bente R Lowendahl William Schulze Harry Barkema Xavier Martin Sari Stenfors Laura Cardinal Thomas Mellewigt Richard Whittington Tina Dacin Will Mitchell Margarethe Wiersema
The Strategic Management Society sincerely thanks and gratefully recognizes the time and effort of the following persons who served as reviewers for the SMS 27th Annual International Conference
Todd Alessandri Walter Ferrier Michael Lord Susan Segal-Horn Sharon Alvarez Avi Fiegenbaum Richard Lynch Sonali Shah Tina Claudia Ambos Peer Fiss Anoop Madhok Jamal Shamsie Bjorn Ambos Karin M Fladmoe-Lindquist Johanna Mair Nicolaj Siggelkow Jay Anand Timothy Folta Alfred Marcus Francisca Silva Espen Andersen Siw Fosstenløkken Catherine Maritan Tale Skjolsvik Richard Arend Brett Anitra Gilbert Richard McGowan Erik Stam Africa Ariño Anthony Goerzen Gerry McNamara Inger Stensaker Jean-Luc Arregle Steve Gove Michael Meeks Yu-Shan Su Kendall Artz Siggi Gudergan Avraham Meshulach Muthu Subbiah Pamela Barr Taïeb Hafsi Klaus Meyer Li Sun Rene Belderbos Mark Hansen Douglas Miller Stephen B Tallman Lars Bengtsson Dawn Harris Kathrin Moeslein Raymond Thietart Donald Bergh Debbie Harrison Erik Monsen Laszlo Tihanyi Arvind Bhambri Niron Hashai Elaine Mosakowski Tony Tong Steven Boivie Louis Hébert Lilach Nachum Wenpin Tsai Brian Boyd Witold Henisz Patricia Nelson Anja Tuschke Rudi K F Bresser Irene Henriques Odd Nordhaug Lorraine Uhlaner Philip Bromiley Amy Hillman Jonathan O’Brien Hans Van Kranenburg Rolf Buehner Guy Holburn Kenny Oh Gianmario Verona Benjamin Campbell Quy Huy Paul Olk Luis Vives Mason A Carpenter Kiran Ismail Pedro Parada Anu Wadhwa Bruno Cassiman Yi Jiang Francesco Perrini Andrew Ward Dong Chen Richard Johnson Erin Pleggenkuhle-Miles Mark Washburn Joseph Clougherty William Judge Richard Priem Antoinette Weibel Linda M Cohen Franz Kellermanns Bertrand Quelin Margaret White Susan Cohen Theodore Khoury Roberto Ragozzino Johan Wiklund Alvaro Cuervo-Cazurra Andrew King Ramya Rajajagadeesan Robert Wiseman Ilya Cuypers Ragnhild Kvålshaugen Richard Reed Robert Wood Julio de Castro Peter Lane Rhonda Reger Bill Wooldridge David Deeds Kevin Laverty Jeffrey Reuer Mike Wright Irem Demirkan Dovev Lavie James Robins Zhan Wu Gregory Dess Sergio Giovanetti Lazzarini Marco Romano Yasuhiro Yamakawa Charles Dhanaraj Christoph Lechner W Glenn Rowe Peter Zemsky Jonathan Doh Christian Lechner Aradhana Roy Yan Zhang Glen Dowell Peggy Lee Carlos Rufin Kevin Zhou Rodolphe Durand Gwendolyn Lee Mariko Sakakibara Jessie Zhou Thomas Durand Michael Leiblein MB Sarkar Arvids Ziedonis Charles Eesley Richard Leifer Mario Schijven Kimberly Ellis Michael Lenox Carmela Elita Schillaci Joyce Falkenberg Edward Levitas Karen Schnatterly
San Diego | October 14-17 2007 1 3 Conference At A Glance
Sunday Tuesday
07:30 – 21:00 Conference Registration Open 07:30 – 18:00 Conference Registration Open 10:00 – 11:30 Interest Group Session I 08:00 – 18:00 Exhibits Open 11:30 – 13:00 Lunch 08:00 – 09:00 Continental Breakfast 13:00 – 14:30 Interest Group Session II 09:00 – 10:00 Plenary Panel: Strategy & the B-School 14:30 – 15:00 Coffee Break Curriculum: A Panel of Deans 15:00 – 16:30 Interest Group Session III 10:00 – 10:30 Coffee Break 16:00 – 19:00 Exhibits Open 10:30 – 11:45 Parallel Paper/Common Ground/ Panel Sessions 16:30 – 17:30 Interest Group Officers Meeting. in room Seabreeze 12:00 – 13:45 Awards Luncheon . in Grande Ballroom 17:30 – 18:30 Interest Group Meetings. for rooms (see p. 23) 14:00 – 15:15 Parallel Paper/Common Ground/ Panel Sessions 19:00 – 21:00 Opening Reception 15:15 – 15:45 Coffee Break 15:45 – 16:45 Plenary Panel: Stakeholder Strategy as Innovation and Advantage Monday 17:00 – 18:15 Parallel Paper/Common Ground/ 07:30 – 18:00 Conference Registration Open Panel Sessions 07:30 – 08:30 Continental Breakfast 18:30 – 19:00 SMS Business Meeting . in Seabreeze 07:30 – 18:00 Exhibits Open 18:30 – 19:30 Cocktail Hour. 08:30 – 09:00 Program Chair Welcome in Lanai Shoreline area
y a d n u s 09:00 – 10:00 Keynote Speaker: Martin Coles, COO, 19:30 – Evening on Your Own Starbucks 10:00 – 10:30 Coffee Break Wednesday 10:30 – 11:45 Parallel Paper/Common Ground/ Panel Sessions 07:30 – 11:00 Conference Registration Open 12:00 – 13:15 Luncheon on the Bayview Lawn 07:30 – 08:30 Continental Breakfast 13:15 – 14:30 Parallel Paper/Common Ground/ 07:30 – 11:00 Exhibits Open Panel Sessions 08:30 – 09:45 Parallel Paper/Common Ground/ 14:45 – 15:45 Plenary Panel: Points of View on Panel Sessions Strategy Research 09:45 – 10:15 Coffee Break 15:45 – 16:15 Coffee Break 10:15 – 11:30 Parallel Paper/Common Ground/ 16:15 – 17:15 Plenary Panel: Non-Market Forces Panel Sessions and the Need for Strategic Agility 11:45 – 12:45 Plenary Panel: Current State and 17:30 – 18:45 Parallel Paper/Common Ground/ Future Direction of Non-Market Panel Sessions Strategy Scholarship 19:00 – 22:00 SMS Dinner Event on the hotel’s 12:45 – 13:45 Luncheon on the Bayview Lawn Lanai Shoreline area
1 4 SMS 27th Annual International Conference hotel maps
San Diego | October 14-17 2007 1 5 My schedule overview
Sunday, October 14, 2007 07:30 – 21:00 Conference Registration Open 10:00 – 11:30 Interest Group SESSION ROOM PAGE # Session I
11:30 – 13:00 Lunch 13:00 – 14:30 Interest Group SESSION ROOM PAGE # Session II
14:30 – 15:00 Coffee Break 15:00 – 16:30 Interest Group SESSION ROOM PAGE # Session III
16:00 – 19:00 Exhibits Open 16:30 – 17:30 Interest Group Officers Meeting in Seabreeze 17:30 – 18:30 Interest Group Meetings see page 23 for rooms 19:00 – 21:00 Opening Reception on Bayview Lawn
Monday, October 15, 2007 07:30 – 18:00 Conference Registration Open 07:30 – 08:30 Continental Breakfast 07:30 – 18:00 Exhibits Open 08:30 – 09:00 Program Chair Welcome y a d n u s 09:00 – 10:00 Keynote Speaker: Martin Coles, COO, Starbucks 10:00 – 10:30 Coffee Break 10:30 – 11:45 Parallel Paper/ SESSION ROOM PAGE # Common Ground/ Panel Sessions
12:00 – 13:15 Luncheon on the Bayview Lawn 13:15 – 14:30 Parallel Paper/ SESSION ROOM PAGE # Common Ground/ Panel Sessions
14:45 – 15:45 Plenary Panel: Points of View on Strategy Research 15:45 – 16:15 Coffee Break 16:15 – 17:15 Plenary Panel: Non-Market Forces and the Need for Strategic Agility 17:30 – 18:45 Parallel Paper/ SESSION ROOM PAGE # Common Ground/ Panel Sessions
19:00 – 22:00 SMS Dinner Event on the hotel’s Lanai Shoreline area
1 6 SMS 27th Annual International Conference Tuesday, October 16, 2007 07:30 – 18:00 Conference Registration Open 08:00 – 18:00 Exhibits Open 08:00 – 09:00 Continental Breakfast 09:00 – 10:00 Plenary Panel: Strategy & the B-School Curriculum 10:00 – 10:30 Coffee Break 10:30 – 11:45 Parallel Paper/ SESSION ROOM PAGE # Common Ground/ Panel Sessions
12:00 – 13:45 Awards Luncheon 14:00 – 15:15 Parallel Paper/ SESSION ROOM PAGE # Common Ground/ Panel Sessions
15:15 – 15:45 Coffee Break 15:45 – 16:45 Plenary Panel: Stakeholder Strategy as Innovation and Advantage 17:00 – 18:15 Parallel Paper/ SESSION ROOM PAGE # Common Ground/ Panel Sessions
18:30 – 19:00 SMS Business Meeting in Seabreeze 18:30 – 19:30 Cocktail Hour in Lanai Shoreline area 19:30 – Evening on Your Own
Wednesday, October 17, 2007 07:30 – 11:00 Conference Registration Open 07:30 – 08:30 Continental Breakfast 07:30 – 11:00 Exhibits Open 08:30 – 09:45 Parallel Paper/ SESSION ROOM PAGE # Common Ground/ Panel Sessions
09:45 – 10:15 Coffee Break 10:15 – 11:30 Parallel Paper/ SESSION ROOM PAGE # Common Ground/ Panel Sessions
11:45 – 12:45 Plenary Panel: Current State and Future Direction of Non-Market Strategy Scholarship 12:45 – 13:45 Luncheon on the Bayview Lawn
San Diego | October 14-17 2007 1 7 sunday sessions | 10:00 - 11:30
Interest Group Session 1501 Interest Group Session 1504 Competitive strategy and strategy process Global Strategy y ay d n u s Track E & H Date Sunday, October 14 Track G Date Sunday, October 14 Time 10:00-11:30 h Time 10:00-11:30 h Panel Session Room Seabreeze Panel Session Room Marina 3 Strategy Process Meets Competitive Strategy Global Corporate Reputations
10:00 - 11:30 Session Chair Session Chair Christoph Lechner, University of St. Gallen William Newburry, Florida International University Panelists Panelists Philip Bromiley, University of California-Irvine Naomi Gardberg, City University of New York Steven Floyd, University of St. Gallen Leonard J. Ponzi, Reputation Institute Cathy Maritan, Syracuse University Reputation is an important element of corporate strategy, and has Edward Zajac, Northwestern University been demonstrated to be associated with numerous important This session explores the potential that the interplay of strategy firm outcomes, as well as supportive behaviors of individuals. process and competitive strategy research can offer for the However, our understanding of firm reputations is often limited explanation of above-average performance. Although both to such lists as the Fortune 500 firms. This panel will attempt to research streams share the same objective, they have taken identify some of the key components of corporate reputations, different paths for its understanding. On the one side, process which much of the presentation based on data taken from the research has concentrated on all factors that significantly impact Global RepTrak 2007 study conducted by the Reputation Institute the actual formation of strategies in organizational units, such as to measure the reputations of 700 of the world’s largest companies agenda-building, decision-making, strategic change, consensus or in 25 countries. conflict. On the other side, competitive strategy has addressed the interaction of a firm and its environment by examining sources of Interest Group Session 1503 advantages, issues of competitive dynamics, strategic positioning, Knowledge and Innovation etc. In order to capture the potential of an exchange, this session a. focuses on constructs that are critical for both research streams Track I Date Sunday, October 14 (e.g. decision-making, routines, capabilities), b. shows how insights Time 10:00-11:30 h of one research stream can help in explaining phenomena of Panel Session Room Executive Center 2 the other stream, and c. debates which research projects at the crossroads of both streams are worthwhile to be explored. Key Issues and Emerging Questions for Knowledge and Innovation Research in Strategic Management Interest Group Session 1507 Session Chair Corporate Strategy Pamela Barr, Georgia State University Panelists Track F Date Sunday, October 14 Harry Barkema, Tilburg University Time 10:00-11:30 h Thomas Durand, École Centrale Paris Room Executive Center 3 Marjorie Lyles, Indiana University Thomas Mellewigt, Freie Universität Berlin Session Chair Gautam Ahuja, University of Michigan Recent academic and management literature suggests that Strategies For Sourcing Innovation From Outside: knowledge and innovation resources and activities are becoming Big Research Questions – And Some Answers – For increasingly central to the creation of value and competitive The Next 5-10 Years advantage. This panel features some of the top scholars in knowledge and innovation and is designed to highlight some of An important trend in practice is the tendency to replace internal the most critical issues and questions that lie at the intersection of innovation by strategies to source ideas from outside, popularly strategic management and knowledge and innovation. This session known as “Open Innovation.” is designed to be interactive and will begin with each panelist Acquisitions, alliances, corporate venturing, in-licensing, outsourcing expressing his or her views on what are the key issues and emerging of R&D, customer idea tapping websites, “corporate campuses” questions for knowledge and innovation research in strategy. The with other firms, closely knit ecosystems with external clients and session will then be opened up for discussion between the panelists suppliers are all such examples of open innovation. What are the and between the panelists and session attendees so that the end key contingencies and mechanisms for successful open innovation? result of the session will be the identification of some of the more Which emerging strategies and “big” research questions should we promising avenues for future research and practice. focus on in the coming 5-10 years? What are the questions leaders of innovative firms focus on, and which new research questions do they inspire? Which theories and methodologies – possibly involving learning from and with practitioners – are particularly important/promising/exciting, and would likely lead to high impact, empirically valid knowledge? What will help Strategy researchers to lead, and produce valid high-impact knowledge, ideas, and designs, rather than tail this important trend?
1 8 SMS 27th Annual International Conference 10:00 - 11:30 | sunday sessions
Interest Group Session 1506 The Practice of Strategy y ay d n u s Track J Date Sunday, October 14 Time 10:00-11:30 h Presentation Room Marina 2 Session Co-Chairs Duncan Angwin, University of Warwick Sari Stenfors, Stanford University 10:00 - 11:30 Globalization and Competitiveness The sessions will revolve around six separate cases which present different problematics experienced by strategists. Most of the cases will be presented by the practitioners involved and several will be co-presented with researchers. The first session in the morning will begin with a brief introduction to the day and then be followed with three case studies run in parallel. These cases will concentrate on issues and tools related to globalization and competitiveness.
Interest Group Session 1505 entrepreneurship and strategy Track K Date Sunday, October 14 Time 10:00-11:30 h Panel Session Room Nautilius 1 Conversations 1: Entrepreneurship Research in Asia Session Chair Bill Schulze, University of Utah Panelists Mike Peng, University of Texas at Dallas Garry Bruton, Texas Christian University Justin Tan, York University Jay Barney, Ohio State University While economies around the world are becoming increasingly entrepreneurial, differences in institutions, cultures, and resource bases create differences in the environment within which entrepreneurial firms create and execute their strategies. These differences are shaping which research questions may be considered most salient in a region. At the same time, there is an increased pressure for scholars in both Europe and Asia to publish research in mainstream academic journals. Over time, knowledge is accumulating about different aspects of the entrepreneurial phenomenon – but how these various pieces fit together is not clear. In a series of conversations among scholars, we focus on three regions—Asia, US and Europe—to identify “hot” areas of research within each region. The scholars will also discuss challenges—both theory and data related—that researchers face when undertaking their research agenda. In this first panel, we bring together a group of scholars to share their views on the issues that are playing a role in shaping entrepreneurship research in Asia. Panelists will identify commonalities and differences with research being conducted in other regions, and address implications of these differences for the field of strategic entrepreneurship.
San Diego | October 14-17 2007 1 9 sunday sessions | 13:00 - 14:30
Interest Group Session 1602 Interest Group Session 1604 Competitive Strategy global strategy y ay d n u s Track E Date Sunday, October 14 Track G Date Sunday, October 14 Time 13:00-14:30 h Time 13:00-14:30 h Panel Session Room Seabreeze Panel Session Room Marina 3 Strategy and Corporate Responsibility Offshoring and Global Strategy: Myths and Realities
13:00 - 14:30 Session Chair Session Chair Maurizio Zollo, University of Bocconi Jonathan Doh, Villanova University Panelists Panelists Jay Barney, Ohio State University Martin Kenney, University of California-Davis Jared Harris, University of Virginia Joan E. Ricart, University of Navarra, Spain Joe Mahoney, University of Illinois Steve Tallman, University of Richmond This panel will debate questions related to the interdependence The issue of offshoring continues to prompt a wide range of between business and society and its implications for business emotions amongst corporate strategists and laypersons alike. strategy leveraging on recent theoretical insights and empirical This session will attempt to distill some of the myths and realities evidence emerging from the RESPONSE project, the largest empirical of what offshoring is, along with the pervasiveness of its usage. effort to date on these issues. Maurizio Zollo will present the wide Questions discussed will include: which companies are offshoring, range of findings from the project and the panelists will provide and for what purposes; where is offshoring most likely to occur; their reaction based on their own work and ideas, before engaging and who is most likely to benefit and be harmed by offshoring? the participants in a broader debate about what these results mean for the strategy field. The challenge of developing a comprehensive Interest Group Session 1601 model of strategic interaction that includes the responsibilities of the firm towards its environment will be then put forth for small Strategy Process group discussion and reporting to the plenary. A final discussion Track H Date Sunday, October 14 among panelists will try to distill the insights emerged during the Time 13:00-14:30 h day and converge on the content of a possible “call for papers” Panel Session Room Executive Center 1 that will be presented to SMJ for consideration. A Dialogue About Conducting Strategy Process Interest Group Session 1607 Research: Building Theory, Designing Studies, and Corporate Strategy Relevance to Practice Session Co-Chairs Track F Date Sunday, October 14 Mark Kriger, Norwegian School of Management Time 13:00-14:30 h Annette L. Ranft, Florida State University Panel Session (Part 1) Room Executive Center 3 Panelists Greg Dess, University of Texas-Dallas Learning From or Learning With Practioners: Bill Judge, Old Dominion University The New Insights Christoph Lechner, University of St. Gallen Panelists Cathy Maritan, Syracuse University Yves Doz, INSEAD Rhonda Reger, University of Maryland Mikko Kosonen, Nokia In this session panelists and coordinators will briefly present, based Andy van de Ven, University of Minnesota, on their interests, the promising areas of future strategy process Strategy as a field emerged from practice. Yet, many have lamented research including theoretical development, empirical designs and about the wide and perhaps widening gap between research applications to practice. Panelists are also encouraged to discuss and practice. What should the role of learning from and with the unique challenges associated with conducting strategy process practitioners be in this respect? Researchers and practitioners have research. In the latter half of the session, participants will be invited different cognitive contexts, processes and purposes for knowledge to dialogue in small groups with one or more of the panelists creation. How do we manage these tensions and instead use this regarding the issues presented. No prior sign-up is required – but diversity to successfully identify and address “big questions”? do come prepared with your thoughts on future research directions How should objectives, roles, responsibilities and expectations be and challenges in strategy process. defined at the outset? Which research approaches, contexts, and methodologies, in terms of learning with and from practitioners, should become more prominent in the next 5-10 years to unravel important mechanisms underlying strategic choice and performance? How will this help us to bridge the gap between methodologically valid knowledge (disseminated solely through scholarly articles by academics for academics) and relevant, high-impact knowledge making a difference in the strategic practices and performance of firms (disseminated through, e.g., airport books by consultants for practitioners)? This will be a highly interactive session, divided in two parts, where panelists will provide in-dept insights on the basis of their extensive experience, but will also invite session participants to share their most compelling experiences.
2 0 SMS 27th Annual International Conference 13:00 - 14:30 | sunday sessions
Interest Group Session 1603 Interest Group Session 1605 Knowledge and Innovation entrepreneurship and strategy y ay d n u s Track I Date Sunday, October 14 Track K Date Sunday, October 14 Time 13:00-14:30 h Time 13:00-14:30 h Panel Session Room Executive Center 2 Panel Session Room Nautilius 1 Identifying Critical Challenges (and Potential Conversations 2: Entrepreneurship Research in the US
Solutions) Associated with Conducting Knowledge Session Chair 13:00 - 14:30 and Innovation Research Rajshree Agarwal, University of Illinois Session Chair Panelists Pamela Barr, Georgia State University Frank Rothaermel, Georgia Tech Panelists MB Sarkar, University of Central Florida Massimo Colombo, Polytechnic of Milan David Audretsch, Indiana University & Max Planck Institute Erwin Daneels, Worcester Polytechnic Institute Knowledge spillovers related entrepreneurship has spawned the Susan McEvily Cohen, University of Pittsburgh birth and growth of new ventures and regions. In this panel, we Jamal Shamsie, Michigan State University bring together a group of scholars that have conducted research on Edward Zajac, Northwestern University two important sources of knowledge spillover entrepreneurship— Maurizio Zollo, INSEAD universities and existing organizations. Panelists will identify The discussion from the morning session will identify promising commonalities and differences of research being conducted in avenues for knowledge and innovation research in strategic scientist and employee entrepreneurship, with research conducted management, but how might one go about conducting empirical in other regions on the issue and address implications of these research on these issues? This panel features scholars with active differences for the field of strategic entrepreneurship. research programs in knowledge and innovation and will offer observations related to key challenges associated with conducting empirical research in this area as well as offer some potential solutions. Attendees will be encouraged to offer their own insights regarding challenges and/or how to address them. Participants should leave the session with important insights regarding the practicalities of conducting knowledge and innovation research in strategic management.
Interest Group Session 1606 The Practice of Strategy Track J Date Sunday, October 14 y a d n u s Time 13:00-14:30 h Presentation Room Marina 2 Session Co-Chairs Duncan Angwin, University of Warwick Sari Stenfors, Stanford University Strategizing Capabilities and Routines The sessions will revolve around six separate cases which present different problematics experienced by strategists. Most of the cases will be presented by the practitioners involved and several will be co-presented with researchers. The afternoon session will begin with a further three parallel case studies focusing upon strategizing capabilities and routines and conclude with a plenary debriefing session.
San Diego | October 14-17 2007 2 1 sunday sessions | 15:00 - 16:30
Interest Group Session 1702 Interest Group Session 1704 Competitive Strategy Global Strategy y ay d n u s Track E Date Sunday, October 14 Track G Date Sunday, October 14 Time 15:00-16:30 h Time 15:00-16:30 h Panel Session Room Seabreeze Panel Session Room Marina 3 Technological Innovations and Competitive The Domain of Global Strategy
15:00 - 16:30 Strategy: Does Timing Matter? Session Chair Session Co-Chairs Mike Peng, University of Texas–Dallas Riitta Katila, Stanford University Panelists MB Sarkar, University of Central Florida Bodo Schlegelmilch, Vienna University of Economics & Panelists Business Administration Rajshree Agarwal, University of Illinois-Urbana-Champaign Susan Segal-Horn, Open University Gautam Ahuja, University of Michigan Alain Verbeke, University of Calgary Marvin Lieberman, UCLA What makes a strategy “global” is central to the Global Strategy Scott Turner, University of South Carolina Interest Group’s domain. However, it is also one that is ripe for In this session we take a dynamic perspective on competitive multiple interpretations, and as such, one where a discussion of the strategy, and explore issues that lie at the intersection of timing boundaries of global strategy might prove invaluable to scholars and innovation research. Strategy researchers have examined trying to better understand the field. Accordingly, this session will ‘time’ from multiple perspectives, from early research on first and involve a discussion of global strategy’s domain; i.e. how is global second movers to later perspectives on exploration v. exploitation, strategy defined?, what are its boundaries?, etc. The session will and, rhythm and sequencing in technology development. The key begin with short presentations by leading scholars in the “global questions in this area center round understanding how timing strategy” field. Following these introductory presentations, a major of technology and innovation activities, in particular relative to portion of the session will involve discussion between the audience competitors, influences firm performance. This session (1) identifies and the panel. the key research streams in this area, (2) suggests useful connections and bridges for a more integrated view, (3) highlights latest research Interest Group Session 1701 and (4) suggests interesting topics for future work. Strategy Process interest Group Session 1707 Track H Date Sunday, October 14 Corporate Strategy Time 15:00-16:30 h Panel Session Room Executive Center 1 Track F Date Sunday, October 14 Time 15:00-16:30 h Continuing and Sharing the Dialogue About Panel Session (Part 2) Room Executive Center 3 Conducting Strategy Process Research Session Co-chairs Learning From or Learning With Practioners: Mark Kriger, Norwegian School of Management The New Insights Annette L. Ranft, Florida State University Panelists Panelists Yves Doz, INSEAD Greg Dess, University of Texas-Dallas Mikko Kosonen, Nokia Bill Judge, Old Dominion University Andy van de Ven, University of Minnesota, Christoph Lechner, University of St. Gallen Strategy as a field emerged from practice. Yet, many have lamented Cathy Maritan, Syracuse University about the wide and perhaps widening gap between research Rhonda Reger, University of Maryland and practice. What should the role of learning from and with In this session small groups from the first session will continue their practitioners be in this respect? Researchers and practitioners have dialogue. Time will be reserved for reports from groups to be shared different cognitive contexts, processes and purposes for knowledge in plenum. Attendance at the prior IG session is recommended - but creation. How do we manage these tensions and instead use this not mandatory. No prior sign-up is required. diversity to successfully identify and address “big questions”? How should objectives, roles, responsibilities and expectations be defined at the outset? Which research approaches, contexts, and methodologies, in terms of learning with and from practitioners, should become more prominent in the next 5-10 years to unravel important mechanisms underlying strategic choice and performance? How will this help us to bridge the gap between methodologically valid knowledge (disseminated solely through scholarly articles by academics for academics) and relevant, high-impact knowledge making a difference in the strategic practices and performance of firms (disseminated through, e.g., airport books by consultants for practitioners)? This will be a highly interactive session, divided in two parts, where panelists will provide in-dept insights on the basis of their extensive experience, but will also invite session participants to share their most compelling experiences.
SMS 27th Annual International Conference 15:00 - 18:30 | sunday sessions
Interest Group Session 1703 Knowledge and Innovation COMPETITIVE STRATEGY y ay d n u s Track I Date Sunday, October 14 TRACK e Date Sunday, October 14 Time 15:00-16:30 h Time 17:30-18:30 h Panel Session Room Executive Center 2 Business Meeting Room Seabreeze View from the Field: Knowledge and Innovation Chairperson Will Mitchell, Duke University
Challenges Confronting Organizations Today 15:00 - 18:30 Session Chair Pamela Barr, Georgia State University CORPORATE STRATEGY Panelists Peter Bryant, Macquarie Institute for Innovation TRACK f Date Sunday, October 14 T.J. Elliott, ETS Time 17:30-18:30 h Peter Lednor, Shell International Chemicals, BV Business Meeting Room Marina 4 The day’s prior sessions focus on knowledge and innovation issues Chairperson Tina Dacin, Queen’s University from a primarily academic perspective, but what do those in the field think? What do managers and consultants see as some of the more compelling issues in knowledge and innovation work? This panel features individuals who confront the practical challenges of GLOBAL STRATEGY knowledge and innovation work in organizations on a daily basis. TRACK g Date Sunday, October 14 Panelists will share their experiences and ideas to identify current Time 17:30-18:30 h issues and, in conversation with attendees, begin to develop a Business Meeting Room Marina 3 practice and research agenda for the future. Chairperson Susan Segal-Horn, Open University Interest Group Session 1705 entrepreneurship and strategy Track K Date Sunday, October 14 STRATEGY PROCESS Time 15:00-16:30 h TRACK h Date Sunday, October 14 Panel Session Room Nautilius 1 Time 17:30-18:30 h Conversations 3: Entrepreneurship Research in EU Business Meeting Room Marina 2 Session Chair Chairperson Andrew Pettigrew, University of Bath David Audretsch, Max Planck Institute of Economics Panelists Christian Lechner, Groupe ESC - Toulouse Erkko Autio, Imperial College KNOWLEDGE AND INNOVATION Mike Wright, Nottingham University Business School TRACK I Date Sunday, October 14 In this panel, we bring together a round of European Time 17:30-18:30 h entrepreneurship scholars to share their views on the issues that Business Meeting Room Nautilius 1 are playing a role in shaping entrepreneurship research in the EU. Chairperson Siegfried Gudergan, University of Panelists will identify commonalities and differences with research Technology–Sidney being conducted in the EU as contrasted to the USA and other regions, and address implications of these differences for the field of strategic entrepreneurship. ENTREPRENEURSHIP AND STRATEGY TRACK J Date Sunday, October 14 Time 17:30-18:30 h Business Meeting Room Nautilius 2 Chairperson Rajshree Agarwal, University of Illinois-UC
PRACTICE OF STRATEGY TRACK k Date Sunday, October 14 Time 17:30-18:30 h Business Meeting Room Marina 1 Chairperson Duncan Angwin, University of Warwick
San Diego | October 14-17 2007 2 3 monday sessions | 8:30 - 9:00
session 1800 peter smith ring Peter Smith Ring, Ph.D., is Professor of Strategic Management at Loyola plenary Date Monday, Oct 15 Marymount University in Los Angeles, CA. Time 8:30-9:00 h He has been visiting professor/research Room Grande Ballroom scholar at Insead; IESE; Nanyang Business Program Chair Welcome School (as a Fulbright Scholar); CEIBS; University of Bologna; University of Bocconi; Université de Paris IX – Duaphine; University of Catania; and University College Dublin; and currently is an Advanced Institute of Management Research Visiting International Fellow at Strathclyde University. His research focuses on networks and strategic alliances, the processes for managing strategic alliances, the role of trust in inter-organizational relationships, strategies for managing competitive and political environments, and public sector- private sector collaboration. He sits on the Editorial Boards of the Strategic Management Journal and the California
O M Management Review. y ay d n PLENARY
Session 1801 Martin Coles, COO, Starbucks Martin Coles is Starbucks’ chief operating officer. His main responsibility is to drive Plenary Date Monday, Oct 15 Starbucks long-term operational strategy Time 9:00-10:00 h for our core businesses, including Keynote Speech Room Grande Ballroom Starbucks U.S., Starbucks Coffee Starbucks Business Paradigm: Doing Well While International, Global Consumer Products Doing Good and Supply Chain Operations. Martin joined Starbucks in April 2004 as Within two short decades Starbucks grew from a small coffee retail president, Starbucks Coffee International. In that role he company based in Seattle into one of the most recognized brands led teams responsible for the overall management, business in the world. While its financial accomplishments are widely development and operations of Starbucks in all international recognized, Starbucks also has been able to create a model where markets. Prior to Starbucks, Martin served as President and business success is balanced with Corporate Social Responsibility Chief Executive Officer for the Reebok brand. During an practices that not only benefit the full cycle of its business model eight-year tenure at Nike, Inc., he held several executive- but also has influenced stakeholders in related industries to develop level general management, sales and operations positions policies alike. From the coffee farmers to the front line, store for Nike, Inc.’s Global and European operations. His broad baristas and partners (employees) around the world, Starbucks has experience also includes executive positions at Gateway, demonstrated that it can create a customer Experience through Inc., Letsbuyit.com (London) and at one of PepsiCo, Inc.’s an emotional connection that transcends borders and cultures. U.S. Bottling operations. He spent the first ten years of Starbucks business has also been influenced by the forces of his career in roles of increasing responsibility at Procter & globalization with its presence in 43 countries today with 14,500 Gamble both in the U.K. and later the U.S.A. stores worldwide. Growing as a global company while maintaining its small entrepreneurship spirit is an act of true balance.
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mo n d ay 13:15 - 14:30 14:45 - 15:45 | monday sessions
Session 1802 C.K. Prahalad, the Paul and Ruth Strategy Research: Four Points of View McCracken Distinguished University Professor at the Ross School of Business, Plenary Date Monday, Oct 15 University of Michigan, specializes in Time 14:45 - 15:45 h corporate strategy. He received honorary Panel Session Room Grande Ballroom doctorates from the University of Moderator London (Economics), Stevens Institute of Peter Ring, Loyola Marymount University Technology (Engineering) and University of Abertay, Dundee (Business). He was a member of the UN Panelists Blue Ribbon Commission on Private Sector and Development. CK Prahalad, University of Michigan A prominent world-class figure, Professor Prahalad has Kathryn Harrigan, Columbia University consulted with the top management of many of the world’s Bala Chakravarthy, IMD foremost companies. He serves on the Board of Directors of George Yip, Capgemini Consulting NCR Corporation, Hindustan Lever Limited and the World SMS alone has over. 000 members “representing a kaleidoscope Resources Institute. He is the Chairman and Founder of The of backgrounds and perspectives from more than fifty different Next Practice. countries.” Thus, there is no easy way to assess the adequacy of mining operations (for theory or data) on the broad topic of the Kathryn Rudie Harrigan is the Henry process of strategic management. Given that nuggets of strategic O M Kravis Professor of Business Leadership management research continue to be found in many rich veins, we
at Columbia University. She holds a DBA have asked four internationally recognized scholars to offer their ay d n earned at Harvard University in 1979; an views on the currency of that research and where we might look MBA from the University of Texas earned for new strikes in the future. Our speakers bring wide ranging in 1976; as well as a BA, from Macalester experiences in academe, practice, and consulting and they have
earned in 1973. Kathy’s elective courses been asked to employ those experiences in the course of developing PLENARY include: (1) Corporate Growth and their individual points of view. Development and (2) Turnaround Management. She serves on the Boards of Cambrex Corp., traded on the New York Stock Exchange, and the privately held company Ronin Development as well as on advisory boards for MBA start-ups.
Bala Chakravarthy is Professor of Strategy and International Management and holds the Shell Chair in Sustainable Business Growth at IMD, Switzerland. Bala’s research and teaching interests cover three related areas: strategy processes for sustainable business growth, corporate renewal, and leadership dilemmas. Bala has published four books, several case studies and numerous articles on these topics in top journals. He was a member of the Board of Directors of the Strategic Management Society (SMS) from 1999-2004. He is also an inaugural Fellow of the SMS.
George Yip is Vice President and Director of Research & Innovation at Capgemini Consulting, UK. He manages the research and innovation process to develop thought leadership for the company. He was previously Professor of Strategic and International Management and Associate Dean at London Business School, and the Chair of Marketing and Strategy at Cambridge University. George has eleven years of full-time business experience in international business, marketing, and strategy, working in the United States and the United Kingdom. He holds B.A. and M.A. degrees in economics from Cambridge University; and an MBA and doctorate from Harvard Business School.
15:45 - 16.15 coffee break
San Diego | October 14-17 2007 4 7 monday sessions | 16:15 - 17:15
Session 1803 NON-MARKET FORCES AND THE NEED FOR STRATEGIC AGILITY Mikko Kosonen is the Executive Vice President and member of the strategic Plenary Date Monday, Oct 15 management of Sitra. He is responsible Time 16:15 - 17:15 h for heading the newly-established Panel Session Room Grande Balllroom Innovations and New Solutions unit. The Moderator Yves Doz, INSEAD unit’s mandate includes the development and implementation of measures that are in line with Sitra’s Panelists mission of revitalising the Finnish innovation environment. Mikko Kosonen, Sitra The Finnish Innovation Fund Before joining in Sitra Mikko Kosonen worked for over twenty John Zysman, Berkely years in Nokia Group. His tasks covered the roles of CIO and Jonathan Murray, Microsoft SVP, Business Infrastructure and Corporate Planning, of the Timo Ali-Vehmas, Nokia Nokia Group. Additionally, he is the author of many articles Strategic agility results from the interplay between three sets of printed in influential business and research publications on capabilities in firms: strategic sensitivity (both the sharpness of the subject of international business, strategy, organization perception and the intensity of awareness and attention), resource and knowledge management. fluidity (the internal capability to reconfigure business systems O M and redeploy resources rapidly) and collective commitment (the John Zysman is Co-director of BRIE ability of the top team to make bold decisions –fast, without being (Berkeley Roundtable on the International
y ay d n bogged in “win-lose” politics at the top). Economy) and professor of political science Each of these can be strongly influenced by non-market forces, at the University of California Berkeley. His in particular collective or individual actions by governments. writing have focused on corporate strategy Governments may in some cases contribute to fostering the and public policy in Europe, Asia, and the PLENARY strategic agility of firms, and accelerate their development. They United States. Zysman has served on a variety of public and can also, and perhaps more frequently, constrain strategic agility. private boards and served as a consultant to governments The recent Airbus difficulties in Europe can be to a large extent and companies in Europe, Asia, and the United States. attributed to the French and German governments undermining John Zysman received his Ph.D. in Political Science from the leadership unity and constraining resource fluidity by maintaining Massachusetts Institute of Technology (MIT) in 1973 and his a two-headed “dual” organization, with reporting lines to each BA from Harvard College in 1967. country and carefully “balanced” management roles for too long. Jonathan Murray is Microsoft’s Worldwide In addition to introducing the concept of strategic agility and its key Technology Officer for Public Sector. He leads enablers, this session will explore how public policy influences strategic Microsoft’s Technology Officer Network. agility, with a particular emphasis on various facets of regulation. For This group of senior technology policy instance collective processes of pan European regulation made a key specialists drives Microsoft’s engagement contribution to the success of GSM, while later independent approaches with government and academic leaders to third generation (“3G”) data communication hampered the concerning the future direction of high impact technologies development of the market and made strategic agility more difficult and the implication of these trends on social and economic for firms to achieve. We will consider how the transformation of the development. Prior to his current role Jonathan spent 10 economy – and of the IT industry – toward services and solutions is years at Microsoft’s corporate headquarters in Redmond, facilitated or hampered by government policies and regulations, and Washington. Prior to joining Microsoft in 1994, Jonathan spent outline the challenges ahead. five years with ARCO International Oil and Gas as a technology strategist. Jonathan previously worked for Scientific Software Intercomp (SSI), an oil industry consulting company, and for Logica, a leading systems integration company, where he Yves Doz is the Timken Chaired Professor worked on various large-scale public sector systems projects. of Global Technology and Innovation at INSEAD and Visiting Professor at the Timo Ali-Vehmas is Vice President of Nokia Helsinki School of Economics. He was Standardization and Industry Liaison. Dean of Executive Education (1998-2002) He is running the team responsible for and Associate Dean for Research and Nokia’s standardization activities globally. Development (1990-1995) at INSEAD. He joined Nokia in 1980, and he has been Professor Doz also was Director of the working in different units and functions of Management of Technology and Innovation programme Nokia, including GSM and WCDMA system at INSEAD, a multi-disciplinary effort involving about 20 and product development. He started his career in developing faculty members and researchers that ran from 1987 to signal processing algorithms and software for data modems. 1994. Yves Doz received his Doctoral degree from Harvard Timo Ali-Vehmas holds a Master of Science degree in University and is a graduate of the Ecole des Hautes Etudes Telecommunications from Helsinki University of Technology. Commerciales (Jouy-en-Josas, France). He has also taught at He is also a member of the Executive Board of EICTA (the the Harvard Business School, Stanford’s Graduate School of European Industry Association for Information Systems, Business, and Aoyama Gakuin University in Tokyo. Communication Technologies and Consumer Electronics)
4 8 SMS 27th Annual International Conference 17:30 - 18:45 | monday sessions
Special Session 1302 research on the determinants of corporate non-market behavior has used a managerial cognition lens. This paper explores differences in the cognitive maps espoused by Firms and NGOs managers’ TEACHING TRACK Date Monday, Oct 15 in the context of oil exploitation in Ecuador. While significant Time 17:30-18:45 h differences between and among the cognitive structures held by Presentation Room Seabreeze managers in these two types of organizations exist, the central Teaching Across Borders: What You Need to Know finding of this research is that these differences are patterned in When Teaching Strategy Across International particularly significant ways for the theory and practice of non- Environments market environment management. Session Presenters Knowing Might From Right: Strategic And Pierre Dussauge, HEC School of Management Institutional Considerations For Isomorphic Steven Floyd, Universitaet St. Gallen Change In Regulated Contexts Michael Lubatkin, University of Connecticut/ EM Lyon Ebony Bridwell-Mitchell, New York University Marjorie Lyles, Indiana University Despite increasing regulatory attempts to align corporate and social Srilata Zaheer, University of Minnesota goals not all organizations adopt required changes since employees Interested in teaching in another country for the first time? Or, want to may resist governmentally prescribed practices. This article examines improve upon a prior international teaching experience? Participants how organizational members’ perceptions of prescribed practice O M in this session will hear from experienced strategy instructors who influence their adoption propensities. Using a mixed-methods have taught in multiple countries. They will share advice about approach, I find members’ perceptions of imposed change focus on y ay d n how to address differences in student expectations, motivation, and the feasibility, urgency, effectiveness and legitimacy of practices. I also learning styles. In addition, they will offer tips for how to integrate find adoption depends on the feasibility and effectiveness of practices quickly into a new environment and how to get the most from you but the pressures of urgency and the complexities of legitimacy may international teaching activities. Presenters will also share advice have unexpected effects. The work also validates a scale for assessing 17:30 - 18:45 about how to create opportunities for international teaching. Finally, propensities for isomorphic change in various contexts. the session will invite attendees to share their own experiences with international teaching and the lessons they have learned. What Creates Uncertainty For Firms In Non-Market Environments? Session 1191 Jean-Philippe Bonardi, University of Western Ontario Thinking About Non-Market Forces in Guy Holburn, University of Western Ontario Global Contexts Whereas information imperfections are key aspects of recent non-market strategy literature, few empirical study document Track A Date Monday, Oct 15 which factors generate real uncertainty for firms in non-market Time 17:30 - 18:45 h environments. By uncertainty, we mean the difference between Paper Session Room Marina 4 the prediction a firm makes ex ante (e.g. when it has to decide Session Chair Jean-Philippe Bonardi, University of Western whether to engage in a non-market strategy) about a factor and Ontario the true impact of that factor, revealed ex post, on a policy decision. Here, we provide a method to explore this uncertainty empirically Strategic Foresight: Investigating Market And by looking at decisions by U.S. electric utilities to engage in rate- Non-Market Drivers Of Change In Corporate reviews. Our results suggest that higher information imperfection Organizations regarding the preferences of legislators and bureaucrats, the threat Claudio Roveda, Polytechnic of Milan of activists, and the firm’s own knowledge are the factors that are Riccardo Vecchiato, Polytechnic of Milan the hardest for firms to predict. Today many companies, in many industries, continuously monitor the emerging technologies and investigate emerging drivers Session 1237 of change in the economic, political and social environments. The Role of Business Design in Shaping However, it still seems to be lacking a comprehensive framework of Competitive Advantage analysis, that clearly defines how all the foresight activities carried out in a firm could be integrated in an organic way. How should Track D Date Monday, Oct 15 the business environment be defined? How should its investigation Time 17:30 - 18:45 h be carried out? These are the main questions we give an answer, Panel Session Room Nautilus 5 through an on-field research based on interviews to top managers Moderator Joan E. Ricart, IESE Business School of some companies that have established an organizational unit dedicated to foresight and through a literature analysis of several cases of firms able to foresight and to deal successfully with Stephan Billinger, University of Southern Denmark disruptive changes in their industry. Kevin Boudreau, HEC-Paris School of Management Margaret Dalziel, University of Ottawa How And How Much Do Market And Non-Market Kathleen Eisenhardt, Stanford University Cognitions Differ? Implications For Non-Market Christoph Zott, INSEAD Strategy Recently, research has pointed to the role of strategic business Rafael Lucea, The George Washington University design. The way in which firms shape their boundaries, for In spite of the significant contributions derived from cognitive instance, has been found to do more than align a firm with its approaches to the fields of strategy and organization studies, little
San Diego | October 14-17 2007 4 9 monday sessions | 17:30 - 18:45
transactional environment; rather, it has been shown to drive of holism and synthesis, not of reductionism and separateness, firms’ dynamic capabilities. This panel will dig more deeply into the through an empirical study on the experiences of 1,236 new dynamics of business design - i.e., the choice of firms’ boundaries, product development projects supported through the Korean and the configuration of a company’s activities, which drives its Industrial Foundation. The findings are that holism approach gives competitive prospects. The presentations will consider how firms a more meaningful implication about resources as a determinant can shape and manage their boundaries to actively create and yield of business success/failure than reductionism approach, and the competitive advantage in their environment; how boundary and, industry effect on performance exists only if under low competition more broadly, business design yields strategic benefits. By shifting intensity and not big market potential, namely, under monopolistic the focus from the “industry” to the business design (and the way or oligopoly market structure. in which competing business designs interact) we hope to shed new theoretical light, and also help adapt our analytical arsenal to the Institutions And Structural Power quickly evolving competitive realities. Patricia Nelson, Hitotsubashi University/University of Edinburgh Session 1115 How does structural power affect institutions over time? Drawing Forms and Consequences of Resources and from the historical institutionalism literature, I argue that the Dynamic Capabilities structure of power within institutions is key to understanding why institutions develop and adapt to changing circumstances over time. Track E Date Monday, Oct 15 The constellation of power conveys ‘structural power’ to certain O M Time 17:30 - 18:45 h participants within institutions. I employ a longitudinal dataset, Common Ground Session Room Executive Center 2a examine the transformation of power structures in institutions y ay d n Facilitator Jamal Shamsie, Michigan State University and I find that power structures have remained remarkably stable. I argue that structural power offers a convincing explanation as Decomposing Firm Heterogeneity to why certain actors can help institutions adjust to new realities. Furthermore, it can explain how those actors maintain power
17:30 - 18:45 Sendil Ethiraj, University of Michigan Hart Posen, University of Michigan within the new institution, even if it means they must share that power with actors who were not in the original power structure. We examine the relationship between firm-specific capabilities and performance. We argue that a defining characteristic of a Towards A Conceptual Framing Of The Change capability is its non-tradability in markets. Consequently, extracting Capability: An Analysis Of Evolutionism, Resource- value from a capability involves deploying it to enhance the value Based View, And Theories Of Change of tradable assets. We employ data on drug approvals in the Pharmaceutical industry as a natural experiment to estimate the Richard Soparnot, Groupe ESCEM value of capabilities. The change in a firm’s market capitalization Soumaya Ben Dhaou, University of Quebec-Montreal/ following a new drug approval yields a joint estimate of the Dauphine University tradable asset (approved drug) and non-tradable technical and Rate of failure of companies in the matter of change projects hovers marketing capabilities. We isolate the value of these capabilities near about 70%. For a few authors, this difference can be explained and find that a new drug approval for a ‘high-capabilities’ firm by the change capability of the company, causing the mergence yields six times the value of that of a ‘median-capabilities’ firm, of a theoretical shift egging on researchers and practitioners to amounting to a value difference of $1.6 billion. modify their approach to the phenomenon and its management and recommending a shift from change management to the Heterogeneity And Persistence Of Competitive management of change capabilities. However, the low number Advantage of works devoted to the change capability renders understanding Andrea Lanza, University of Calabria of this concept and its mechanisms rather difficult. Though the Antonella Pellegrino, University of Calabria notion of change capability therefore appears to be promising, its Simone Giuseppina, University of Calabria theoretical outlines remain to be defined. The aim of this paper is Heterogeneity has always been considered as a crucial phenomenon therefore to untangle the concept of change capability by drawing in the resource-based perspective and as source of competitive from similar theoretical developments. advantage. Recent literature has also emphasized the distinction between competitive advantage creation and sustainability. In Dynamic Evolvements Of Dynamic Capabilities this paper, after defining the heterogeneity construct, we link Richard Yu Yuan Hung, Toko University it to persistent competitive advantage. The empirical model Bella Ya-Hui Lien, National Cheng Chung University conducted through Lisrel is tested on a sample of 132 firms drawn Yu-Ming Kuo, National Chung Cheng University from the Italian mechanical industry. Heterogeneity has emerged In the changing environment era, Dynamic Capabilities as a relative as a 3-dimension construct whose dimensions are: contextuality, new concept become an important topic in strategy management complexity and intertwinedness. The impact of heterogeneity on discipline. Although Teece, Pisano & Shuen (1997) first define the competitive advantage sustainability has also been confirmed dynamic capabilities, there are still many discussion and doubts in the essence of the dynamic capabilities. This study reviews the past Holism And Synthesis Effect On Business studies on the dynamic capabilities and further using contingencies Performance theory to redefine the dynamic capabilities. In addition, this study Michael Byung-Yoon Lee, Korea Industrial Technology bases on the environment situation propose four types of dynamic Foundation capabilities in enterprises and create three types movement among Stephen In-Ho Kim, Hanyang University these four type enterprises. Therefore, three propositions are This paper attempts to draw some messages about strategic suggested. In conclude this study provides five Taiwanese cases to resources as a decisive determinant of business success in terms explore and explain the propositions.
5 0 SMS 27th Annual International Conference 17:30 - 18:45 | monday sessions
Session 1144 broadening and enhancement of their product lines aiming to create Internal and External Sources of high switching costs. Our findings also suggest that investments in Technological Competence acquisitions and internal development emerged as the two preferred methods to grow in scale and scope. Investments in internal R&D Track E Date Monday, Oct 15 activities are designed to find new uses for established products. Time 17:30 - 18:45 h M&A investments are put to use when healthcare information firms Paper Session Room Marina 2 want to develop new product offerings. Session Chair Eli Segev, Tel Aviv University External Technological Search Strategies In High Networks Of Niche Competent Innovation: A Case Velocity Environments Study Of The Video Game Industry Anuja Gupta, University of Pennsylvania Ikenna Uzuegbunam, Rensselaer Polytechnic Institute In this paper I study what constitutes a successful exploration strategy Satish Nambisan, Rensselaer Polytechnic Institute for firms using strategic alliances as a search mechanism. Strategic In this paper, we propose a framework that incorporates a niche- alliances are an important means of accessing external resources. level focus to analyze the success of interfirm networks under Exploratory alliances, that allow the firm to gain new capabilities regimes of disruptive technological change. We suggest a niche without correspondingly large internal development efforts play a competence model of interfirm networks and argue that superior critical role in maintaining competitive edge. Exploitation alliances, on the other hand, allow firms to exploit past investments and levels of technology niche differentiation and niche market O M specialization enable firms within an interfirm network to succeed current capabilities, and play an equally important role in generating shareholder returns. In terms of technological search through
during periods of creative destruction. In our typology, we argue ay d n that networks can be of four types: nicheless, niche-specialized, alliances then, the question I ask is: How far can firms search from niche-differentiated, or niche-competent. Further, knowledge their current technological capabilities? In other words, what are sharing and complementary product integration are proffered as the different performance effects of exploratory and exploitative technological search? In taking a contingency approach to this meaningful antecedents to the development of niche competence. 17:30 - 18:45 Case study results from the video game sub-sector are used question, I analyze how shareholders react to divergent technological to illustrate the study propositions. Implications of our model search and bring into the analysis important firm level, environment for management of technological discontinuities and network level, and transaction level contingencies influencing this valuation. innovation are offered. Session 1145 Knowing When To Acquire: The Relation Technological Scope, Search and Between Acquisition Timing And Price In High Performance Technology Acquisitions Nir Brueller, Tel Aviv University Track E Date Monday, Oct 15 Shmuel Ellis, Tel Aviv University Time 17:30 - 18:45 h Eli Segev, Tel Aviv University Paper Session Room Nautilus 3 This research focuses on the timing of acquisitions in strategic Session Chair Gianmario Verona, Bocconi University scenarios where serial acquirers in high technology industries acquire small firms to complement their internal innovation Can Market-Related Capabilities Be Beneficial To efforts. Organizational learning and routine based perspectives Science-Based Firms? The Moderating Role Of are employed to explore how firm-specific timing considerations Knowledge Integration influence the price paid for target firms. Empirical analysis of 101 Luigi Mario De Luca, China Europe International Business acquisitions carried out by the. 0 most active serial acquirers in School ICT (Information and Communications Technologies) industries Gianmario Verona, Bocconi University between 1996 and 1999 supports the theoretical expectations. Salvatore Vicari, Bocconi University Results show that deviations from the typical timing characteristics While markets and the economy as a whole have always been of each acquirer’s acquisition strategy benefit the shareholders of considered key sources of innovation in the strategic debate, in the target firm, by allowing them to command a higher price, and the case of science-based and high tech industries their role has thus capture a larger part of the expected synergies at the time of often been overlooked. In this paper we investigate how market- transaction. related capabilities can be beneficial to science-based firms in a representative sample of Italian biotech firms. Our results indicate On Strategic Issues Of Competition In Healthcare that the impact of market-related capabilities on performance of Information Markets: Related Diversification And biotech companies is not univocal and inherently valuable when it Product Line Investments is complemented by a high level of formal knowledge integration Kirill Yurov, University of Illinois-Chicago between scientist and business people in the firm. We discuss our Yuliya Yurova, University of Illinois-Chicago results and provide direction for future research on the topic. Mark Shanley, University of Illinois-Chicago Healthcare information firms compete in a hypercompetitive Search, Innovation, And The Dynamics Of environment that is presently experiencing a strong inflow of new Competition: The Value Of Not Being In Sync entrants as well as a great deal of M&A activities. We analyzed Riitta Katila, Stanford University investment practices and competitive strategies of a number of firms Eric Chen, Stanford University that have endured volatile market conditions to achieve revenue This paper investigates how firms search for new products. In contrast sustainability. We found that these firms continuously invest in with the traditional firm-centric view, we study how the firm’s search
San Diego | October 14-17 2007 5 1 monday sessions | 17:30 - 18:45
depends on that of its competitors. We test hypotheses based on This paper examines the concept of external “virtual” value two seemingly contradictory consequences of competition: that chain orchestration, an emergent pattern of strategizing at the competitors sharpen, validate and expand the focal firm’s search and intersection between markets and hierarchies. Virtual value chain thus promote product innovation, and, that competitors take away the orchestratation is intended as way to create and capture value by exclusivity of search and therefore suppress innovation. Our analysis structuring, coordinating, and integrating activities of previously of 15 years of longitudinal data on 124 Japanese, European, and U.S. unrelated markets and by effectively relating these activities to industrial automation organizations shows that these outcomes are in-house operations with the aim of developing a network of not contradictory but reflect tradeoffs between introducing more activities that create fundamentally new markets. The research products and introducing more innovative products. In particular, the is based on an in-depth analysis of the agrochemical and biotech timing of search relative to competitors is crucial: most innovative industry and is illustrated by two case studies. The paper concludes firms avoid searching in sync with their competitors. that the orchestration of an extended network of diverse partner companies leads to superior financial results if value capture is Separate Units Or Parallel Networks: The Role Of managed following the steps outlined in the paper. Innovation Types In Balanced Structures Success Alexander Zimmermann, University of St Gallen The Impact Of Knowledge Boundaries On This study aims at contributing to the emerging debate on Production Boundaries: Sourcing Choices For how structural solutions are able to reconcile exploitation and Technologically Interdependent Components exploration’s conflicting organizational requirements. Based on a Anne Parmigiani, University of Oregon O M thorough evaluation of the existing literature, we identify separate Will Mitchell, Duke University units and parallel network structures as two distinct patterns Theories of the firm posit that firms determine their boundaries y ay d n of “balanced” organizational designs that seem to be able to through sourcing choices of individual components. This neglects simultaneously achieve both objectives. In several hypotheses, we the possibility for technological interdependence between argue that the type of innovation is a central contingency for the components that affect these choices and lead to joint decisions. structural solutions’ success. While separate units can be expected We predict expertise will affect these decisions and test our 17:30 - 18:45 to be more successful under radical innovation conditions, parallel hypotheses using a dataset that includes the sourcing choices of network structures presumably deliver superior results in a context interdependent and unrelated pairs. We expand the range of of more incremental innovation. We suggest a detailed research choices from make/buy to include concurrent sourcing, when a design for our hypotheses’ upcoming validation. firm both makes and buys a given component. We find that firms source technologically interdependent components via the same Coherence And Incoherence In The US mode and that firm, intrafirm, and interfirm expertise influence Biotechnology Market the choice of mode. Expertise has little influence on the sourcing Theodora Welch, University of Massachusetts-Boston decisions of unrelated components. Laura Hansen, University of Massachusetts-Boston This paper proposal examines the role of cultural institutions and Taking The Blinders Off: Theoretical And Empirical market practices in corporate diversification and company valuation. Barriers To Investigating Interorganizational Firms diversify in ways that are coherent; those that don’t suffer (i.e. Relationships (IORs) the ‘diversification discount’) or do not survive. However, existing Miguel Rivera-Santos, Babson College theories of corporate coherence offer a valuable but incomplete Anne Parmigiani, University of Oregon understanding of corporate diversification. Another, more recent We argue that the current lack of consensus regarding what stream, rooted in the economic sociology of markets presents constitutes an IOR in the literature can be explained by the diversification as socially and culturally mediated. This institutional underlying logics of five main conceptual approaches used by approach has much to offer researchers interested in the rise of researchers in the many disciplines studying IORs. We identify institutional investors as a focal point for analysis on diversification. and label these approaches as ‘positioning’, ‘efficiency’, ‘access’, Our paper extends the traditional corporate coherence approach ‘embeddedness’, and ‘process’. We suggest that these diverse to include the notion of structural incoherence to examine the role approaches have led researchers to perceive IORs differently and of institutional investors and their market intermediaries -- stock accept different implicit assumptions on what constitutes an IOR. analysts -- in constraining public companies in which these financial We argue that the diversity of approaches leads to a variety of actors invest and cover, respectively. We investigate this phenomenon both conceptual definitions and empirical operationalizations for in a sample US biotechnology companies and employ a unique stock IORs, which makes it difficult for researchers to accumulate and analyst database to construct these additional measures. assimilate knowledge across studies.
Session 1245 Acquisitions Of Facilities Service Providers: Do Market Or Power Dominate Managerial Decisions? Value Chain Decisions Fabian Homberg, University of Zurich Track F Date Monday, Oct 15 Margit Osterloh, University of Zurich Time 17:30 - 18:45 h Construction companies and private equity investors pursue Common Ground Session room Marina 1 acquisition strategies by paying skyrocketing prices for facility Facilitator Michael Leiblein, Ohio State University services providers. To explain this phenomenon we offer two hypotheses: (1) the market hypothesis, i.e. acquirors identify firms in Competitive Interactions At The Intersection which it is possible to generate rents through synergies and better Of Markets And Hierarchies: The Emergence Of management. (2) The power hypothesis, i.e. a lack of corporate Virtual Value Chains control due to management hubris and a pursuit of personal well- Andreas Hinterhuber, Hinterhuber & Partners being in home markets. If the latter hypothesis is true a bubble is
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identified which contradicts shareholders’ interests. We contribute we examine the institutional environments of 84 diverse national to the corporate governance debate by investigating examplarily economies. We found that all three forms of isomorphism influence whether managers abuse their power. the adoption of international accounting standards. These results refine and extend our understanding of international governance, Identity Of TMT Executives Who Govern as well as institutional theory at the macro level. In addition, it Outsourcing: Antecedent Contingencies And provides valuable insights into why countries pursue international Performance Implications accounting standards, and what can be done to encourage their Subrata Chakrabarty, Texas A&M University adoption in the future. Dwayne Whitten, Texas A&M University We propose that governance of outsourcing is most effective when Market Reactions To Linked-Firms Via Back: Dated the authority lies with TMT executives who are knowledgeable Stock Options about the functional area being outsourced. Certain antecedent Steve Gove, University of Dayton contingencies determine the choice of the TMT executives and this Jay Janney, University of Dayton choice has performance implications. Empirical findings from a Does taint spread through firms via their common board of field survey of firms outsourcing information technology (IT) work directors? We examine this question and others in a context of show that (a) a firm’s poor financial performance in the past and the. 006 stock options back-dating events involving over 1,000 the number of IT employees in the firm influence the choice of TMT firms. To date over 160 investigations into illegitimate behavior executives for IT outsourcing governance, and (b) when IT-savvy have been launched, and numerous CEOs have been fired from O M TMT executives such as the CIO or IT-head (rather than the non-IT their positions in the wake of these disclosures. We employ an executives such as the CEO, CFO or COO) govern IT outsourcing, then event study to test the effect of taint on linked firms, where the y ay d n greater product quality and transaction cost efficiency is achieved. linkage occurs via a common board of director member. When the focal firm announces an investigation has occurred, we Aligning Procurement Strategies To Environmental examine the abnormal returns to the firms with which it shares Uncertainty: Control Or Adaptation? a common board of director member. We also test for individual, 17:30 - 18:45 John Isaksen, Norwegian Institute of Fisheries and organizational, industry, and timing effects. Aquaculture Research Bent Dreyer, Norwegian Institute of Fisheries and Aquaculture Signal Or Symbol? Interpreting Firms’ Strategic Research Response To Institutional Change In The Brazilian Kjell Gronhaug, Norwegian School of Economics Stock Market In this paper we address how successful firms secure critical input Susan Perkins, Northwestern University when the supply is highly unpredictable. This is important since Edward Zajac, Northwestern University adequate and sufficient supply is crucial for firms to survive and While analyzing how and why firms respond to product market prosper. Here we propose a multi-theoretical approach to the demands has long been a central issue in the strategy literature, make or buy decision in the face of uncertain supply of critical recent research suggests the need for a comparable level of input. Two firms are examined, achieving sustained competitive attention on how and why firms respond to non-market demands. advantages in the same business environment, with different In this study, we theoretically and empirically analyze how sourcing strategies, i.e. equifinality. A key finding is that vertical Brazilian corporations responded to dramatic changes in their integration and flexibility can serve as alternative strategies. Our institutional environment. Specifically, using extensive qualitative findings reveal that the success of a strategy is moderated by firm and quantitative data, we show how the enactment of a new set specific resources, and contribute to a better understanding of of corporate governance guidelines by the Brazilian stock market ambiguous results in earlier research on the vertical integration (aimed at reducing agency problems related to pyramidal group performance relationship. ownership) generated a number of strategic responses by Brazilian firms that suggest improved corporate governance. However, we Session 1081 also find that for numerous firms, the changes observed are more Corporate Governance symbolic than substantive. Track F Date Monday, Oct 15 Ownership Structure And The Voluntary Adoption Time 17:30 - 18:45 h Of Corporate Governance Reforms In The Post- Paper Session Room Nautilus 1 Enron Era Xia Zhao, California State University-Dominguez Hills Session Chair Steve Gove, University of Dayton Richard Harrison, University of Texas-Dallas National Adoption Of International Accounting This study examines the effect of ownership structure on a firm’s Standards: An Institutional Perspective voluntary adoption of a supermajority-independent board and William Judge, Old Dominion University separate CEO/board chair structure. We propose that long-term Shaomin Li, Old Dominion University oriented institutional ownership will have a greater positive impact Robert Pinsker, Old Dominion University on a firm’s likelihood of adopting corporate governance reforms than non-institutional external blockholder ownership. Moreover, In this study, we conceptualize the adoption of international we argue that the positive effect of long-term oriented institutional accounting standards decision as a national governance mechanism ownership on a firm’s likelihood of adopting corporate governance that is influenced by the country’s institutional framework. reforms is stronger when the CEO’s power and firm performance are Specifically, we seek to determine how coercive, mimetic, and lower. The sample of this study will be manufacturing firms listed normative isomorphic pressures within a country are related to the in the S&P 1500 Index throughout the years from January 2002 to adoption of international accounting standards. Using archival data, December 2005.
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Session 1201 combining arguments made in both streams thereby creating a M&A more comprehensive theory of post-acquisition performance. Track F Date Monday, Oct 15 Pyrrhic Options? Assessing The Cost Of Flexibility Time 17:30 - 18:45 h In Real Options Paper Session Room Marina 3 Akie Iriyama, University of Pittsburgh Session Chair TBD Ravi Madhavan, University of Pittsburgh Extant real options theory, while stressing the importance of flexible Gender Diversity In United States Top investments such as sequential acquisitions, tends to neglect the costs Management: Impact On Risk-Taking And Acquirer of such flexibility. We address this issue by comparing unit deal prices Performance (the cost of acquiring a 1% equity share in the target) among three Sudi Sudarsanam, Cranfield University types of acquisitions: (1) complete acquisition (no options), (2) partial Jian Huang, Cranfield School of Management acquisition (option purchase), and (3) subsequent acquisition (option This paper studies gender diversity and its impact on risk-taking exercise). Data on 35,202 U.S. acquisitions show that partial acquisition and acquirer performance in mergers and acquisitions. It extends unit prices and subsequent acquisition unit prices, on average, exceed the principal-agent paradigm by investigating the impact of complete acquisition unit prices. Also, partial acquisition unit prices gender diversity among top managers on their risk preferences. To tend to exceed subsequent acquisition unit prices. These results suggest that deal pricing reflects tradeoffs with uncertainty, with
O M the extent that risk taking propensity is influenced by gender, the risk-related agency conflict may be mitigated or accentuated by option-purchase deals that preserve flexibility being systematically the gender of the CEO or the gender diversity of the board or other higher priced than option-exercise or no-option deals. y ay d n top management. According to our empirical study, market has more favourable response to the M&A deals conducted by female Session 1224 CEOs than those made by their male counterparts. However, in Competing On Innovations the long run, this difference reverses. Further, we also find that 17:30 - 18:45 risky corporate acquisitions undertaken by female CEOs destroy Track G Date Monday, Oct 15 shareholder’s value in the long run. Time 17:30 - 18:45 h Common Ground Session room Executive Center 4 Post-Acquisition Integration Approaches: A Cluster Facilitator William Newburry, Florida International Analysis Of Change Profiles InA cquired Companies University Duncan Angwin, University of Warwick Maureen Meadows, Open University Professionalism As A Non-Market Strategy The post-acquisition integration phase is now widely recognized as Susan Segal-Horn, Open University a critical part of the M&A process. Just as there are several different Alison Dean, University of Kent motivations for M&A taking place, it has long been assumed these One of the longest-established forms of non-market role is that require different post-acquisition integration approaches and this of the professional. Professionalism is neither determined by, nor has led to the development of several post-acquisition integration is it a response to, market forces. We discuss what constitutes a typologies. However these frameworks are conceptual or based profession; why historically being a professional has been a source upon exploratory data and all suffer from lack of empirical support. of non-market power, providing the basis of non-market strategies; The considerable difficulties inherent in obtaining sufficiently and the ways in which this professional non-market power is now rich data have presented a substantial obstacle to placing these under threat. A transition to the ‘marketized’ professional has typologies onto firmer empirical ground. This paper addresses occurred. Under current market conditions such as commoditization, this need by providing the necessary empirical data. Using cluster globalization, client sophistication and loss of public confidence analysis and CHAID procedures this paper reports the robustness of in professional ethics, the strategic value of professions and prominent post-acquisition typologies. professionalism is declining. Through discussion of global law firms, this paper identifies a long-established area of non-market Placing Process In The Contingency Framework Of power which, until the professions re-assert strategic control over Merger And Acquisition Research its management, is declining rather than strengthening. Taco Reus, Florida Atlantic University Kimberly Ellis, Michigan State University Structural Network Position, Multi-Market Contact, Bruce Lamont, Florida State University And Types of Product Innovation For over two decades, M&A research in strategic management has Christiane Prange, EM Lyon emphasized a contingency framework built on contextual factors Zied Guedri, EM Lyon to investigate determinants of post-acquisition performance. In order to be competitive, companies in the pharmaceutical Considerable lack of support for the strategic fit hypothesis that industry need to focus on both incremental and radical product lies at its core suggests this framework omits variables that may innovation. Drawing on arguments from the resource-based view explain significant post-acquisition performance variance. One of strategy, network and multipoint competition theory, we argue response has been the emergence of another stream of research that a firm’s structural network position and its level of multi-market emphasizing process dimensions that characterize acquisition contact have a differential impact on the respective type of product implementation. However, paying limited attention to contextual innovation output. We developed and tested our hypotheses on factors, the process stream has not enhanced our understanding a sample of 68 firms operating in the U.S. pharmaceutical market of the contingency framework. We review literature from both between 1990 and. 005. Our findings are among the first to streams and present four questions which place process factors evidence the likelihood of different types of product innovation more solidly in the contingency framework and encourage research within an inter-firm network setting.
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Love Thy Neighbour? Inter-Community innovation adoption is dependent on various national level Relationships In Chinese High Technology attributes. However, the influence of these attributes on the Industries (1988-2000) dynamics of adoption is still under debate. Furthermore, the starting Yan Zhang, Rice University point of the rapid growth phase in the dynamics, takeoff point, Haiyang Li, Rice University has only recently received attention in the literature. This paper Claudia Schoonhoven, University of California-Irvine cross-nationally investigates the effects of cultural, population, and wealth attributes on the extent of takeoff time. The study focuses In this paper we take an ecology perspective to examine how on data from five different innovations consisting of 214 national inter-community relationships can affect the growth of industrial time series. The findings suggest that companies can expect takeoff communities. Using a unique data set on the population of all to occur earlier in countries that are more equal, individualistic, national technology development zones ever founded in China, we future oriented, and wealthy. Other contributions of the study and found that regional community density, a community’s geographic possible avenues for further research are also discussed. proximity to the nearest community, and a community’s domain overlap with the nearest community all have a curvilinear effect on community growth. These results support our theoretical argument Session 1126 that industrial communities are embedded in their relationships An Institution-Based View Of Strategy with other industrial communities, which can facilitate both Track G Date Monday, Oct 15 mutualism and competition effects. Time 17:30 - 18:45 h O M How Offshoring Drives Innovation: Relocation Of Paper Session Room Nautilus 4
Non-Core And Core Activities Session Chair Alvaro Cuervo-Cazurra, University of South ay d n Anna Szczygielska, RSM Erasmus University Carolina Justin Jansen, RSM Erasmus University Henk W. Volberda, RSM Erasmus University History, Culture, And The Five Forces Model: The
Frans A.J. Van Den Bosch, RSM Erasmus University Impact Of Non-Market Forces In Determining Firm 17:30 - 18:45 Offshoring has become an important strategy for organizations, yet Strategy research in this area is surprisingly limited. This study distinguishes Ajit Prasad, International Management Institute between non-core and core offshoring and empirically evaluates The Porter’s 5 Forces Model is an interesting way of looking at the their impact on pursuing exploitative and exploratory innovation. influences of non-market forces on firm strategy. While each force Our findings indicate that the type of offshoring has differing is behaviorally determined and is obviously specific to the history effects on a firm’s innovativeness. Non-core offshoring contributes and culture of the social fabric in which it operates, the study gives to extending and improving existing products and services (i.e. a better understanding of resulting firm strategy. Example - the exploitative innovation). Firms relocating core activities to foreign bargaining power of buyers will depend also on the different types locations, on the other hand, benefit from an increased ability to consumers segmented on the basis of religion: Nike’s strategy will generate both exploitative as well as exploratory innovation. Finally, be different for protestant Britain as opposed to the catholic France our study shows that a firm’s absorptive capacity is of importance (Weber and the ‘role of the protestant ethic’). Similar analysis is for organizations offshoring core activities since it strengthens the done for each of the forces and the paper suggests a methodology effect of core offshoring on exploratory innovation. for looking at the MNC Strategy for market entry decisions. Expectation Formation And Market Growth In Multinational Firms’ Ownership Structure Choices Mobile Communication Services In Politically Risky Countries Ulas Burkay, BI Norwegian School of Management Candace Martinez, St Louis University Øystein Fjeldstad, BI Norwegian School of Management Drawing upon transaction costs and new institutional economics Amir Sasson, University College Dublin theories to illuminate the complex relationship between ownership Network services are the enablers of a flat world. We use advanced structure and firm- and institutional-level attributes, I designed statistical models to study factors that impact growth and size an original sample of 122 U.S. manufacturing firms that had 615 of mobile communication networks in a sample of 93 countries subsidiaries in 19 of the most politically risky countries in. 001. over. 4 years of time, and we relate these factors to the timing Received theory has observed that hybrid governance structures are of introduction of mobile communications services into a country. the more efficient solution in transition economies characterized by We find support for the argument that broad affordability of institutional hazards, but a tabulation of the firms comprising the service within a country predicts early introduction. This suggests sample in this study indicates that this may not be so: 83% were that high network effects dominate absolute size of segments wholly-owned, while 17% were joint ventures. Statistical analyses of that can afford the technology. The findings have implications the data reveal that firms prefer full ownership when they possess for the understanding of globalization of network services, for intangible resources, but they choose shared ownership arrangements executive decision making on large cross border investments and when specific assets and certain institutional hazards are high. for consultants analyzing network markets. The Role Of Legal Institutions And Economic Takeoff Time In Innovation Adoption: Cross- Competitiveness: A Global Perspective National Study Of The Effects Of Cultural And Han-Lin Li, National Chiao Tung University National Attributes Yu-Chien Ko, Chung Hua University Tomi Haapaniemi, Tampere University of Technology Garry Bruton, Texas Christian University Saku Mäkinen, Tampere University of Technology Two significant streams of theory has obtained increasing Previous studies have found that the dynamics of the national prominence in the examination of strategy in global settings
San Diego | October 14-17 2007 5 5 monday sessions | 17:30 - 18:45
- institutional theory and economics. How these two theoretical corporate-level strategy have not been researched comprehensively, streams interact to impact strategy has not been well developed. whereas various individual characteristics remain underexposed as This paper examines the impact of legal institutions on the explanatory variables. This paper hypothesizes that when dealing economic competitiveness of nations. This research finds that with corporate strategy, especially positional characteristics whether a nation has a civil or common law foundation has a (hierarchical, functional, regional or governance positions) significant impact on the growth of GDP over time. The research influence managerial beliefs, vis-á-vis demographic characteristics also shows that these legal institutions have a significant impact (age, nationality) and experience characteristics (work, functional on the inflow of investment in nations around the world over or organizational experience). This PhD research is conducted time. The implications of these findings for institutional theory, among 400 executives in six multinational corporations. Preliminary and the economics perspective in the study of strategy in a global results show highly significant relationships, suggesting that it is environment are discussed. important to take differences in belief systems across positions of managers into account when formulating and implementing Intellectual Property Rights Reform, Institutions, corporate-level strategy. And Patenting Theodore Khoury, University of Texas-Dallas Need-Based Incentives As Levers To Culture Alvaro Cuervo-Cazurra, University of South Carolina Change And Knowledge Sharing We analyze the impact of intellectual property rights (IPRs) on Manuela Batul Giangrande, INSEAD patent applications in emerging economies. We argue that strong Culture matters for organizations and their performance (Barney, O M institutions, specifically a democratic political system and a strong 1986; Schein, 1999). Just as organization structure and design may be legal system, reinforce the impact of IPR reform on patenting. The viewed as the skeleton and muscles of the organization, corporate y ay d n results of the empirical analyses of patenting in Latin American culture can be interpreted as the organization’s soul or spirit - the reveal that the behavior of domestic and foreign inventors differs. operating system. Consequently, ‘developing’, transforming, and Foreign patent applications are influenced by the duration of the nurturing the right culture is important for all organizational IPR reform, and this influence is reinforced in more totalitarian processes. The literature related to change in corporate culture 17:30 - 18:45 political systems. In contrast, domestic patent applications are has thus far ignored largely the importance of employee needs as influenced by the strength of the legal system, but not by the levers for change. We argue that managers can facilitate culture duration of IPR reform. These results imply that stricter IPRs are change, i.e. promote a knowledge sharing and creating culture, favored by foreign inventors but not by domestic inventors. by addressing and satisfying employee needs through emotion regulation actions of others (and self). We posit that human needs, Session 1063 in the large sense of the term, are motors of behaviour and thus Aspirations & Actions can be leveraged to favour practices and initiatives that enhance communication and knowledge sharing and integration between Track H Date Monday, Oct 15 management and employees as well as between departments. Time 17:30 - 18:45 h Examples of human needs that have emerged during our three- Paper Session Room Nautilus 2 year inductive study in the context of organizational change are: emotional and temporal needs. Session Chair Casper Van der Veen, Strategy Academy Ambivalence And Action Responses To Strategic Comparing Models Of Social And Self Referent Issues Aspirations Philip Bromiley, University of California-Irvine Nils Plambeck, HEC-Paris Mark Washburn, University of California, Irvine Klaus Weber, Northwestern University Aspiration theory continues to rely on the additive model proposed Grounded in the tradition of the Carnegie School perspective, we by Cyert and March (1963) in which aspiration levels, performance, examine how top executives’ ambivalence about an issue – an and social comparisons are combined to create a future aspiration. issue is evaluated as simultaneously positive and negative – is More recently Bromiley (1991) and others proposed an alternative related to their organizations’ action responses. The importance model that allows for switching of attention between aspirations of ambivalence for action in organizations has been recently and social comparisons depending on their attainment. We emphasized. A systematic empirical study of the consequences of compare these models empirically using data from budget targets ambivalence for action in organizations has been lacking however, of a large international auto manufacturer. We find strong results as has been a thorough grounding of these relationships in a indicating that the influences of prior aspirations do not vary systematic framework of organizational action. Our study fills both relative to industry. gaps. Data come from two surveys of 104 German CEOs who first reported their evaluation of the enlargement of the European Union in. 004 and then reported the actions that their firms Session 1095 initiated in response to this issue in 2005. Assessing And Creating Knowledge Cognitive Diversity Among Corporate Managers: Track I Date Monday, Oct 15 Organizational Positions As Surrogates For Time 17:30 - 18:45 h Corporate Level Strategy Beliefs Common Ground Session room Executive Center 3b Casper Van der Veen, Strategy Academy Facilitator Siegfried Gudergan, University of Technology Sidney Various strategic management research efforts have tested Hambrick and Mason’s (1984) thesis that individual characteristics Gestalt Logic: Empowering Schematic Diversity In could be surrogates for managerial beliefs. However, beliefs on The Context Of Systems Innovation Willow Sheremata, York University
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Although systems innovation can create substantial value for Joint Generation Of Knowledge In Alliances firms and social welfare, integrating technological diversity is Ricarda Bouncken, University of Greifswald difficult. Rather than the dominant logic of a core business, Thorsten Teichert, University of Hamburg general management requires simultaneously dominant yet Michael Koch, University of Hamburg diverse logics – an unstable configuration of schemata that we This study opens a new discussion in alliance research by exploring call ‘gestalt logic’ (Prahalad & Bettis, 1986). We search for the crux the joint generation of new knowledge. Insights are derived from of tension between schematic diversity and distributed influence, an empirical study of 196 alliances. A model is generated and by modeling schematic diversity as a ‘centrifugal’ force that tested that separates two different modes of relational learning enables sensing and knowledge-generation, and the distribution in alliances: the transfer and the generation of knowledge. By of high levels of influence as an integrative ‘centripetal’ force researching the antecedents and outcomes of the two learning (Sheremata, 2000). We conclude that the distribution of influence types, we reveal significant differences in its causes as well as effects. is an effective integration mechanism in a context of task and Specifically, the requirements for learning differ largely and call for goal interdependence. Systems innovation requires requisite alternative project management tools. Findings contribute to the dependence as well as requisite variety (Ashby, 1956). effective management of alliances and indicate further research Connecting The Dots: Uncovering The Process Of potential in socio-cognitive learning processes. Scouting For External Technologies Falling Awake: The Complexities Of The ‘Failure Felipe Monteiro, London Business School Trap’ O M This paper aims at contributing to the existing literature on Andrew Hess, Georgia Institute of Technology knowledge and innovation management by providing a detailed
Sam Ransbotham, Georgia Institute of Technology ay d n account of the process through which large firms systematically Frank Rothaermel, Georgia Institute of Technology search for new technologies across geographic and organizational In this paper we examine the existence of the ‘failure trap’ boundaries. Our data collection effort has extended over the period explicated by Levinthal and March (1993) by investigating the of two years; involved more than 50 semi-structured interviews relative importance of intra- and inter-organizational learning. 17:30 - 18:45 with managers in three continents; numerous field observations To empirically test the relationship between these two constructs and the use of both internal and publicly available archival data. we utilize project-level from 1,251 failure events from 33,905 Our findings seem to indicate that this process of search for projects in the pharmaceutical industry. Though this approach, knowledge across firm and geographic boundaries is filled with we are able to endogenize key characteristics of the failure event, many nuances that a simple search-transfer model is not able to such as value, rarity, and novelty, which previous studies have capture. Our data shows that this technology scouting process treated as exogenous. An additional contribution of our research is comprised of six phases (internal scouting, external scouting, is the empirical investigation of organizational learning through assessment, translation, transfer and follow-up). Our findings two separate methodological approaches. Such an approach also also indicate that external technologies may be internalized not allows us to reduce biases from unobserved heterogeneity often because they are new to a focal firm but because they come with associated with rare event studies. To foreshadow our results, we the market provenness that a technology developed internally does find empirical evidence for the existence of a failure trap, and thus not have. Finally, and most interestingly, we found out that even support for the idea that firms are more likely to learn from the when the external knowledge is related to the firm’s knowledge mistakes of their competitors than they are from their own prior base, it may be not internalized if it is ‘dissonant knowledge’, i.e. failings. if it challenges the firm’s dominant logic. Those results seem to indicate that even when a firm decides to deliberately scout the Reinforcement Learning: Integrating Prior Mental world for emerging technologies, it does not necessarily mean Models, Limited Feedback, And Cognitive Biases that it is managing to access and integrate diverse knowledge but Into Organizational Learning it may be simply importing more of what they already have. Richard Bettis, University of North Carolina Prune To Grow: The Role Of Abandonment In Daniela Blettner, University of North Carolina Technological Resource Creation Organizational learning is a well recognized mechanism for firms to adapt to changing conditions in the environment. In dynamic Sali Li, University of Utah and changing environments, firms are likely to learn by trial and Anu Phene, University of Utah error. A particular mode of trial and error learning is reinforcement Nile Hatch, Brigham Young University learning. In uncertain and ambiguous environments, firms are The paper examines the role of resource abandonment in the likely to be subject to prior mental models, limited feedback, and renewal of a firm’s resource portfolio. Building on recent advances cognitive biases. In sum, reinforcement learning opens up the in the dynamic RBV (Helfat & Peteraf, 2003), we argue that resource opportunity to represent these limitations in the learning process. abandonment is an important, yet largely neglected mechanism, Therefore, we develop a model based on reinforcement learning, stimulating a firm to break with their prior technological paths which can be applied to the context of specific strategic challenges and facilitating the creation of new technological resources. We such as acquisitions, new product development and the dilemma of propose that the size of technological resource abandonment will exploration and exploitation. have an inverted U impact on the subsequent innovation output. The impact will be greater when the abandoned technological resources are more recently developed. Moreover, we suggest that abandonment is more likely to stimulate the resource creation in a relevant technology field. We plan to use patent data to test the above arguments.
San Diego | October 14-17 2007 5 7 monday sessions | 17:30 - 18:45
Session 1099 network differentially influence their ability to benefit from the Strategic Management of Knowledge network in generating breakthrough innovations. We propose Networks that firms using their networks primarily for resource acquisition will mostly generate incremental innovations, whereas those Track I Date Monday, Oct 15 using networks for resource co-development will generate Time 17:30 - 18:45 h more breakthrough innovations. However, resource acquisition Common Ground Session room Executive Center 2b orientation in the presence of high absorptive capacity will Facilitator Randi Lunnan, BI Norwegian School of Management contribute to breakthrough innovations, and resource rich firms with co-development focus will intensify the likelihood of The Influence Of Culture On The Entry Mode Of breakthrough innovations. In absence of deliberate attempts to Multinational Enterprises And Network Mobility maintain network vitality, a firm’s network could become a liability Kang-Ning Xia, National Chengchi University over time and hurt innovation. We plan to test our hypothesis in a This study adapts the culture model proposed by Hall to consider the longitudinal study of global semiconductor industry. dyad relation between the home country and the host country, and Collaborative Networks And Inventors’ to discuss how entry modes and network mobility of multinational Productivity: A Study On The Micro-Foundations enterprises (MNE) will differ when MNEs in high and low context Of Firm Innovative Capabilities culture are placed in host countries of varying degree of cultural Gino Cattani, New York University
O M contexts. This study suggests that when a MNE from a high context culture enters a host country with low context culture, the tendency Simone Ferriani, University of Bologna is to employ a high stock structure option as its entry mode (FDI) This study delves into the micro-foundations of firm level y ay d n and to bring its home network links into the host country. There innovative capabilities and their relation to performance by are still other three possible entry situations (high to high, low to focusing on the influence of inventor level characteristics. high, low to low) discussed in this study. Building on social network theory, we examine how inventors’ structural position (i.e., their centrality) and relational behavior 17:30 - 18:45 Executive Knowledge Schemes: The Fundamental (i.e., propensity to engage in repeated interaction) within the Drivers Of Managerial Scanning intra-organizational network shape the time required to generate Rajiv Nag, University of Arkansas new technologies and the quality of these technologies. We trace Studies of managerial scanning enjoy a rich tradition. Little work, all patented technologies at Corning over the period 1950-1998. however, has been done to understand the elemental drivers of The results show how inventors’ degree of centrality reduces the scanning behaviors. In this paper, I present a mixed-methods study time elapsing between an inventor’s two subsequent patents, but in a single, mature industry. I find that senior executives working has no impact on patent quality. The propensity to repeat a tie in largely similar objective environments show marked differences with the same collaborators, on the contrary, has a curvilinear in their beliefs about knowledge as as strategic resource. These relationship with both outcome measures. beliefs in turn influence the nature and extent of scanning that a Determinants Of Success In R&D Alliances focal executive engages in. Jeff Dyer, Brigham Young University The Effect Of Top Management Team Networks This study examines determinants of innovative success in R&D On The Innovativeness Of Large And Small alliances, focusing on the relative importance of initial conditions Organizations versus execution factors. We examine success, measured through Scott Newbert, Villanova University perceptual measures, patents, and commercialization success, in Kevin Clark, Villanova University a sample of 397 firms involved in 142 R&D alliances. Our results Patrick Maggitti, Temple University show that alliance execution factors are better predictors of success The ability to bring new knowledge resources into the firm is an than alliance formation factors. Firms achieve better performance important factor in innovation output. The position of the Top outcomes when they engage in more frequent communication Management Team (TMT) provides a key boundary spanning with alliance partners and devote more technical personnel to mechanism for the firm. In this study we test for and find a the project to acquire and develop new knowledge. We did find relationship between TMT network characteristics and the rate of that alliances with more participants, those with competitors, and, new product and service introduction in a sample of 70 technology surprisingly, those where the firms had prior alliance experience firms. We also test for differences in the effectiveness of TMT together had lower performance outcomes. However, generally networks for innovation in small versus large firms. We find that speaking, the initial conditions, including stock of R&D resources a liability of smallness exists such that small firms have difficulty of partners, geographic proximity of partners, and the alliance developing extracting value from executive networks. We develop experience of partners, did not influence R&D alliance performance theory as to why this liability of smallness exists and provide advice outcomes. to managers for how to overcome these network disadvantages. Leverage Your Network To Innovate: The Effects Of Inter-Firm Network Orientations On Technological Breakthrough Innovations Devi Gnyawali, Virginia Tech Manish Srivastava, Virginia Tech We develop a contingent view of network effects on technological innovation and argue that firms’ orientations toward their
5 8 SMS 27th Annual International Conference 17:30 - 18:45 | monday sessions
Session 1092 Dynamic Capabilities And The Ambidextrous Development of Dynamic Capabilities Organization: Empirical Results From Research- Intensive Firms Track I Date Monday, Oct 15 Time 17:30 - 18:45 h Wolfgang H Guettel, Vienna University of Economics and Paper Session Room Executive Center 1 Business Administration Stefan Konlechner, Vienna University of Economics and Session Chair Laura Costanzo, University of Surrey Business Administration The dynamic capabilities approach focuses on a firm’s ability Unbundling Path Creation For A Better to develop its resource base in order to meet environmental Understanding Of Dynamic Capabilities expectations and is therefore closely interrelated to issues of Krsto Pandza, University of Leeds balancing exploration and exploitation in organizational learning. The concept of dynamic capabilities is predominantly associated with Scholars argue that organizations can combine both learning modes experiential adaptation to exogenous change and the sustainability by adapting ambidextrous organizational designs. Yet, ambidextrous of path-dependent knowledge histories. From this perspective organizations are faced with perpetual tensions due to strategic the dynamic capability concept falls short of providing convincing contradictions. This paper investigates dynamic capabilities in explanations for the generation of novel knowledge and innovation, ambidextrous organizations that enable these organizations to cope and remains inconclusive on the role of managerial agency in such with contradictory environmental demands and to preserve their evolutionary phenomena. The concept of path creation promises ability to reconcile exploration and exploitation simultaneously. O M a fruitful avenue for investigating the role of managerial agency We use empirical data from research-intensive organizations to
in generating and shaping newel knowledge progressions. This show which mechanisms organizations develop in order to enable ay d n paper reports an in-depth and ongoing case study of an EU-based ambidextrous learning and we discuss the role of high-order dynamic subsidiary of a leading semiconductor corporation that generated capabilities to balance these conflicting learning directions. new organizational capabilities in conducting exploratory research in the area of emergent nanotechnologies in order to illustrate Session 1166 17:30 - 18:45 creative managerial behaviour in path creation processes. Sources of Entrepreneurial Knowledge Variation Reduction And Dynamic Capabilities: Track K Date Monday, Oct 15 Friends Or Foes? Time 17:30 - 18:45 h Bradley Staats, Harvard University Paper Session Room Executive Center 3a A firm’s approach to problem solving impacts its strategy, Session Chair innovation capabilities and learning. In the extant literature, which focuses on the divide between exploring new opportunities versus E2Ps: Entrepreneurs Transition To Philanthropists exploiting existing ones, a paradox has arisen. Benner and Tushman Marilyn Taylor, University of Missouri-Kansas City (2002;. 003) argue that processes which reduce variation inhibit Theresa Coates, Clarkson University an organization’s ability to respond to environmental change, Robert Strom, Kauffman Foundation while Winter and his co-authors suggest the opposite (Winter and Entrepreneurs make significant contributions to our society. Szulanski 2001; Zollo and Winter 2002). We propose that the answer These contributions are highly visible through the companies to this paradox is the contingent nature of variance reducing they initiate and run, but they also contribute more than half the behaviors. Variance reduction focused solely on reducing risk can philanthropic giving in the world. Very little has been done to lead to incremental innovation and compromise an organization’s examine this behavior. One of the major questions this research long-term survival. Alternatively, given the noise and complexity in addresses is how do entrepreneurs’ experiences as entrepreneurs social systems, variance reduction to understand causal relationships influence their philanthropic experiences? Using grounded theory may build capabilities and assist in adaptation. the research examines two entrepreneurs turned philanthropists The Role of Knowledge Structures in Capability (E2Ps), Mr. Ewing and Mr. Marino. Then an exploration of E2P Emergence, Traps, and Transformations in New experiences of 51 entrepreneurs through a content analysis is Technology Spinoffs undertaken. Results suggest that younger E2Ps have different Michael Ciuchta, University of Wisconsin-Madison transitions than older E2Ps. Capabilities research increasingly focuses on the emergence Predicting New Firm Performance: A Novel of capabilities in particular contexts. Using a unique data set of Approach To Absorptive Capacity Measurement technology based spinoffs from a large research university, I Erik Wetter, Stockholm School of Economics attempt to empirically test the role of a specific capability on Frédéric Delmar, EM Lyon organization survival and performance. Importantly, by allowing Absorptive Capacity (ACAP) is the capability of a firm to discover and for the moderating effect of organization knowledge structures, assimilate technological knowledge, and thereby to commercially I explicate how this capability can transform into a more general exploit advances in technological fields. It has been shown to be a capability within some organizations and not in others. Because the valid predictor of firm performance in technological industries. An capability under study pertains to winning awards from the SBA’s established measure for ACAP is the proportion of R&D-staff. This Small Business Innovation Research (SBIR) program, implications measure is problematic when examining the performance of new for that program are also drawn. firms, as these firms rarely have dedicated R&D departments or staff. We propose the proportion of employees with higher technology or science education as an alternative measure for ACAP. Applying this measure on the full population of Swedish start-up firms in
San Diego | October 14-17 2007 5 9 monday sessions | 17:30 - 18:45
technological fields 1995-2002 we find that Absorptive Capacity is a relevant construct when predicting survival and multiple aspects of new firm performance. Theory As A Source Of Entrepreneurial Learning Teppo Felin, Brigham Young University Todd Zenger, Washington University-St Louis How do entrepreneurs and new organizations learn without experience, doing, past history, or, relevant peers? We develop theoretical arguments, building on developmental psychology and philosophy, highlighting the role of theorizing, and the imagination of possibilities, as a source of a priori (before experience and doing) learning in entrepreneurship. Furthermore, theorizing possibilities is not an individual-level activity alone and thus we develop a social theory of entrepreneuring, specifically highlighting the role of social interaction and self-selection in entrepreneurial organizing and learning. O M y ay d n 17:30 - 18:45
6 0 SMS 27th Annual International Conference 9:00 - 10:00 | tuesday sessions
Session 1804 Strategic Management & The B-School Dennis W. Draper, an experienced scholar Curriculum: A Panel of Deans and business administrator, recently joined Loyola Marymount University as dean Plenary Date Tuesday, Oct 16 of College of Business Administration. Time 09:00 - 10:00 h Draper has held senior academic positions Plenary Panel Room Grande Ballroom for more than 20 years, including director of the Center for Investment Studies Moderator and associate professor of finance at the Idie Kesner, Indiana University Marshall School of Business, University of Southern California. Penalists He previously served as vice dean of the graduate programs Dennis Draper, Loyola Marymount University at USC. Draper earned a bachelor’s degree in industrial Bill Glick, Rice University engineering/operations research from Northwestern Steve Mangum, The Ohio State University University, a master’s degree in engineering economic systems Howard Thomas, Warwick Business School from Stanford University and a doctorate in business from Stanford University. How has the role of the strategic management/business policy course changed over time in the business school curriculum? Where William H. Glick, Ph.D., is dean and H. does the strategic management course fit into the business school Joe Nelson III Professor of Management curriculum of the future? Is the strategic management course at the Jesse H. Jones Graduate School of best positioned as a beginning course that sets the stage for the Management, Rice University in Houston, Texas. Prior to joining the Jones School, business education? Or, should it be an ending course that allows Bill Glick was the chair of the department students to reflect on the integration of what they’ve learned? For of management and a Dean’s Council of schools that want to grow beyond their core or required strategic 100 Distinguished Scholars at the W. P. management courses, what should be included in a broad based Carey School of Business at Arizona State strategic management curriculum? Does the strategy course have a University, Tempe. He was a visiting professor at INSEAD in role to play in fulfilling the AACSB standard requiring each degree 2002. Before joining the ASU faculty in 1995, he was the program to provide direct measures to assess student learning. director of the Business Honors Program at the University of What kinds of competencies should the strategic management Texas at Austin and taught there from 1981 to 1995. Bill Glick course focus on to aid in achieving programmatic learning goals? earned his Ph.D. from the University of California at Berkeley These and other questions will be addressed by our prestigious in 1981. panel of Business School Deans. The session will also include a Q&A Stephen L. Mangum is Acting Dean and portion to allow attendees to ask their own questions concerning Senior Associate Dean for Academic the strategic management course and curriculum. Programs and Professor of Management
and Human Resources, Max. M. Fisher ay d s e u t College of Business, The Ohio State University. His educational training includes an undergraduate degree in economics and a master’s degree in human resource management from the University of Utah. He received his Ph.D. in economics from George Washington PLENARY University. His involvement in international human resource development includes activities in Mauritania, Oman, Northern Ireland, India, the United Arab Emirates and Vietnam. Howard Thomas joined Warwick Business School as Dean in 2000. He is Chair of the Global Foundation for Management Education, and former Chair of the board of the Graduate Management Admissions Council. He is a past President of the SMS, and was elected as an Inaugural Fellow. He is Vice-President of the European Foundation for Management Development and the Association of Business Schools. He is a Fellow of the Academy of Management in the USA and the British Academy of Management, where he has also been elected onto its Council. Before arriving at WBS, he was Dean of the College of Commerce and Business Administration at the University of Illinois at Urbana-Champaign for nine years.
10:00 - 10:30 coffee break
San Diego | October 14-17 2007 6 1 tuesday sessions | 10:30 - 11:45
Session 1236 Modeling Social Capital: Choosing The Right Intersection Between Strategy And Network Strategy To Manage Exploration Entrepreneurship Successfully Annette Biedermann, Free University-Berlin Track D Date Tuesday, Oct 16 Rudi K F Bresser, Free University-Berlin Time 10:30 - 11:45 h Reynaldo Valle Thiele, Free University-Berlin Panel Session Room Nautilus 5 Christian Powalla, Free University-Berlin Moderator We develop a social capital model that explains how networks Naga Lakshmi Damaraju, Ohio State University of interorganizational relationships can be structured to manage Panelists exploration processes directed at gaining competitive advantage Jay Barney, Ohio State University in different environmental contexts. We argue that a network Sharon Alvarez, Ohio State University structure of low density and high strength of relationships is Gregory Dess, University of Texas-Dallas beneficial if the main goal of the network is to actively configure Harry Sapienza, University of Minnesota the environment, e.g. under conditions of high environmental Duane Ireland, Texas A&M University complexity. In contrast, a network structure of high density and Strategy and entrepreneurship are independent constructs. Both low strength of relationships is advantageous if the adaptation these fields are internally consistent and have largely developed to changing environmental conditions is the main concern of the independent of each other. Exploiting an entrepreneurial embedded organizations, e. g., in contexts characterized by high opportunity is often necessary to sustain a competitive advantage. environmental variability. The integration of strategy and entrepreneurship can create value for customer and help firms gain sustained competitive advantages. Managing For Enduring Success: A Historic View The purpose of this symposium, particularly in view of the launch Of Dynamic Capabilities In Large European Firms of the Strategic Entrepreneurial Journal, is to hear from expert Christian Stadler, University of Innsbruck panelists about what they think are the crucial questions about the This article addresses a fundamental question in strategic relationship, or lack thereof, between the two fields that would management: how can companies survive and perform over inform further intellectual inquiry. extended periods of times. Using detailed archival and interview data I studied 18 large and established European firms for a period Session 1807 of 50 years. Nine of these firms display superior performance NON-MARKET FORCES AND THE NEED FOR while the comparison group performed only slightly better than STRATEGIC AGILITY the market. By linking my findings with the Dynamic Capability View and literature on transformational leadership I extended the Track D Date Tuesday, Oct 16 concept of dynamic managerial capabilities. I show that charismatic Time 10:30 - 11:45 h leadership cannot explain superior performance. An alternative y ay d s e u t Panel Session Room Seabreeze notion of culturally sensitive management is proposed to explain Moderators: Yves Doz, INSEAD the exercise of dynamic capability. Mikko Kosonen, Sitra - the Finnish Innovation Fund Strategy Evolving: Evolutionary Dynamics Of The Strategic Renewal: Rebuilding Strategic Agility Dominant Paradigms In Strategic Management Giovanni Battista Dagnino, University of Catania Companies become victim of their own success: successful strategies 10:30 - 11:45 turn into rigid recipes which keep repeating themselves, providing This paper aims to identify the dominant paradigms in strategic for momentum. When conditions change, momentum turns to management and to present an elucidation of their evolutionary inertia, and success to failure. Based on their research on strategic history intended as a history of incomplete dominances. The crux agility, Yves Doz and Mikko Kosonen analyze the paths followed of the argument is that, since its founding in the sixties, strategic by companies victim of momentum or inertia and trying not only management has developed and affirmed around one or more to change course, but also to gain strategic agility. Based on a relevant paradigms, which have been the lighthouse illuminating the comparative analysis of Hewlett Packard, IBM, Nokia and SAP, work of all researchers and students in the field. On the basis of an they will propose preliminary findings on the process of regaining evolutionary elucidation, we take into account four core paradigms strategic agility and engage in a dialogue with the session of strategy: (a) the Structure-Behavior-Performance (SCP) paradigm; participants. (b) the Resources-Competences-Performance (RCP) paradigm; (c) the Knowledge-Capabilities-Performance (KCP) paradigm; and, (d) the evolutionary (EP) paradigm. We investigate in brief evolutionary Session 1249 paths, logical structure, causal relationships and main limitations of Discussions about Theories of the Firm each paradigm. Track E Date Tuesday, Oct 16 Time 10:30 - 11:45 h Integrating The Factor Market And Sustainability Common Ground Session room Marina 1 Streams Of The Resource-Based View Katja Nothnagel, Free University-Berlin Facilitator Joseph Mahoney, University of Illinois - Urbana Michael Leiblein, Ohio State University Champaign Thomas Mellewigt, Free University-Berlin This paper provides an integration of the factor market and sustainability streams of the RBV literature. This integration will help address concerns regarding the RBV literature in at least three basic
6 2 SMS 27th Annual International Conference 10:30 - 11:45 | tuesday sessions ways. First, this integration will provide a categorization of core Competitive Acumen: First-And Second-Order concepts – resource characteristics, factor market conditions, and Market Contact Interpretations performance outcomes – that promise to facilitate future construct Wenpin Tsai, Penn State University development. Second, the integration will address concerns Kuo-Hsien Su, National Taiwan University regarding a direct link between resources with ‘valuable’ attributes Ming-Jer Chen, University of Virginia and performance. Finally, this integration will result in the derivation This research proposes the construct of competitive acumen, defined of six central propositions that will facilitate the comparison of as the extent which a focal firm can accurately assess who the primary empirical findings in 191 existing studies, the identification of competitors of a given rival are. We argue that the degree of such methodological problems in these studies, and the development and accuracy is a result of market cues embedded in direct and indirect evaluation of alternative methods of testing resource based work. market relationships between firms. We highlight the significance of Successful Leaps To New Markets: The Relative competitive acumen by revealing its impact on the change of market Importance Of History, Learning, And Dynamic leadership. In particular, we investigate how a firm’s competitive Capabilities acumen for a given rival increases the likelihood of dethroning the rival from its leader position in a market. Using both objective David Bryce, Brigham Young University indicators and perceptual measures in analyzing competitive acumen, Jeff Dyer, Brigham Young University this research advances our knowledge of competitor analysis and Nathan Furr, Stanford University contributes to the literature on interfirm rivalry. When firms undertake a novel and fundamental strategic change they have, by definition, little specific experience to guide them to Multimarket Contact And On-Time Performance In success, and theory predicts negative consequences. Under these The United States Airline Industry conditions, firms have only two primary sources to which they can look Jeffrey T Prince, Cornell University to overcome change constraints – (1) generalizable past experience, Daniel H Simon, Cornell University or (2) vicarious learning through observation of others undertaking We examine the impact of multimarket contact on on-time similar changes. The paper shows that in a sample of firms changing performance in the airline industry. Using flight-level data for their primary industry at the one-digit SIC code level, constraints to more than 3.5 million flights, we find that increases in multimarket change are significant in portending lower performance, but that contact lead to increases in delays, and this result is robust to even general sources of experience and learning are sufficient to several delay measures and the inclusion of carrier-route, as well overcome those constraints in a wide number of cases. as month, fixed effects. We further determine that the effect is Enhancing Board’s Strategic Involvement: Strategic primarily in the form of departure delays, and not due to changes Feedback Gaps Learning To Affect Absorptive in scheduled flight times or time spent in the air. These findings Capacity And Strategic Choices provide support for the mutual forbearance hypothesis, and suggest that multimarket contact facilitates tacit collusion not only Chanan Ben Oz, Technion-Israel Institute of Technology on price – but also on quality.
Avi Fiegenbaum, Technion-Israel Institute of Technology ay d s e u t Henrich Greve, BI Norwegian School of Management Multipoint Competition And Forbearance In The The study proposes a theoretical framework challenging the European Airline Industry: Empirical Results Of A “rubber stamp” view of the board of directors; the board inability Model Based On The Resource-Based View And to affect organization’s strategy and its associated performance. The New Institutional Economics The central argument is that boards have to enhance their strategic Mouyrin Renaud, IAE Aix en Provence - France involvement mainly by enhancing their absorptive capacity; Michel Ghertman, University of Nice 10:30 - 11:45 their ability to acquire external and competitive knowledge, Williamson 1999’s call for a deeper combination of competence assimilate and exploit it towards commercial ends. We develop and governance paradigms in strategic management research finds two propositions; first, that boards should direct their knowledge an echo in multipoint competition analysis. An analytic literature absorptive capacity by feedback learning about the organization’s review of both theoretical and empirical research on multipoint undesirable strategic gaps. Second, the enhancement of board’s competition highlights the difficulties of finding a precise definition absorptive capacity enhances the impact of strategic feedback gaps of the concept of spheres of influence. Applied to the European learning on strategic choices. A sample of. 00 high tech global Airline Industry, this paper aims to improve the conceptualization companies, representing different industries, is collected and will of spheres of influence and empirically tests (2002-2006) the Mutual be used later on to examine the new propositions. Forbearance Hypothesis (Edwards, 1955) in the European Airlines Industry as Gimeno (1999) did in the US airlines one. The authors use Session 1118 a model based on a combination of the Resource Based View (RBV) Conditions and Consequences of and the New Institutional Economics (NIE). The panel data includes Multimarket Contact approximately 20,000 observations on 150 airlines operating on 1800 European city pair markets followed on 10 periods (2002-2006). Track E Date Tuesday, Oct 16 Time 10:30 - 11:45 h To Forbear Or Not to Forbear? The Effects Of Paper Session Room Nautilus 1 Performance And Resource Endowment On Session Chair Michel Ghertman, University of Nice Multimarket Competition Ana Elisa Iglesias, Georgia State University William Bogner, Georgia State University This study examines boundary conditions of the mutual forbearance hypothesis, which predicts an inverted-U-shaped relationship
San Diego | October 14-17 2007 6 3 tuesday sessions | 10:30 - 11:45
between multimarket contact and market entry. Drawing on recent Strategic Positioning And Risk-Return Behavior In developments of the behavioral theory of the firm, we develop Kauffman’s Landscapes a model which explains how firm performance and resource Herbert Kimura, Mackenzie Presbyterian University endowment shapes this relationship. We posit that high-performing Leonardo Basso, Mackenzie Presbyterian University firms will closely respect existing tacit competitive arrangements, Eduardo Kayo, Mackenzie Presbyterian University but that low performing firms will compete according to their Alberto Suen, PRMIA stock of resources: resource-rich firms will take longer to achieve Based on an adaptation, for the business field, of the concept of the point where the deterrence effect begins to operate, and rugged landscapes of Kauffman’s NK model from the evolutionary resource-poor firms will start to forbear sooner. Hypotheses and biology, this paper discusses the search for strategic positioning methodology for empirical analysis are set out. that leads to higher levels of adaptation into the competitive environment. Through mathematical modeling and implementation Session 1121 of a computational algorithm, the behavior of an industry is Interdependent Decisions: Game Theory and simulated. The results suggest that, in simpler models, in which risk Simulation Approaches is not relevant to evaluate strategic alternatives, companies tend to concentrate in some few types of competitive strategies, reflected Track E Date Tuesday, Oct 16 in specific combinations of attributes or characteristics. However, Time 10:30 - 11:45 h the introduction of behavior under risky situations induces an Paper Session Room Marina 3 industry with larger strategic diversity, suggesting, for example, Session Chair Sergio Luis Ibarra, University of Autónoma- organizational inertia or other conflicts of interest that prevent the Queretaro achievement of local maxima.
Analyzing Strategic Coevolution Using Session 1122 Interdependent Performance Landscapes Action Leads to Reaction: Strategic Action Adrian Caldart, University of Warwick and Rival Reaction Fernando Oliveira, University of Warwick The use of agent-based computational models has become Track E Date Tuesday, Oct 16 increasingly relevant among strategy researchers working under the Time 10:30 - 11:45 h paradigm of evolutionary economics. In particular, Kauffman’s NKC Paper Session Room Nautilus 2 model offers the potential to develop simulations of the interaction Session Chair TBD of strategic decisions within a network of interdependent firms in a formal way. In this paper we analyze the NKC model and introduce Strategic Action Portfolios And Performance In The a procedure to deal effectively with its main challenge: dealing the United States Telecom Industry (1984-2004) enormous computational complexity associated to working with Jay Lee, California State University Sacramento y ay d s e u t multiple linked performance landscapes. We develop simulations I investigate how firm corporate strategy portfolios, defined based on the model to analyze whether and how Nash equilibrium as bundles of four key corporate strategy actions, relate to can be achieved by networks of interdependent firms and we deregulatory and technological changes and to performance. I analyze the conditions under which cyclic behavior emerges. hypothesize that frequency and variety of firms’ strategic action Finally, we discuss potential applications of the model in the field portfolios increase when environmental changes take place in the of strategy. marketplace. I also hypothesize that the nature of firm’s strategic 10:30 - 11:45 Should Firms Follow Market Sentiments In action portfolios will be different depending on whether the Launching New Technologies? A Simulation Study changes were deregulatory or technological. After establishing the relationship between environmental changes and firms’ strategic Michele Simoni, Parthenope University of Naples action portfolios, this study measures how firms’ strategic action Gianluca Vagnani, Sapienza, University of Rome portfolios influence performance. All else being equal, firms This study attempts to explore how firms productive opportunity with higher levels of frequency and variety on strategic action and performance evolves differently under different assumptions portfolios are hypothesized to perform better. of firms’ motivation and propensity to explore new technology, given the characteristics of the demand. On the one side, exploiting Resource ProfileC omplexity, Perceived Uncertainty, existing competencies may provide short-term success, but And Interfirm Rivalry competence exploitation can become a hindrance to the firm’s long- Hun Lee, George Mason University term viability. On the other side, deploying resource combinations Masoud Yasai-Ardekani, George Mason University as to an extrinsic motivation inherently mitigate the risk of failure, In this paper, we introduce the role of perceptions in predicting but deploying resource combination as to intrinsic motivation may interfirm rivalry. We suggest that the complexity of a focal firm’s dramatically enlarge the set of all possible deployments that are resource profile influences the extent of a rival’s perceived within someone’s ability and means to execute. A computational uncertainty about the focal firm’s resources and capabilities. We model using agent-based simulation techniques is proposed. The further suggest that the extent of perceived uncertainty about the results of the computational model suggest that the degree of focal firm’s resources and capabilities affect the likelihood of attack heterogeneity of the market strongly affects the performances and imitative response by a rival firm. achievable through different strategic approaches.
6 4 SMS 27th Annual International Conference 10:30 - 11:45 | tuesday sessions
The Structure Of Interfirm Rivalry Network: The Effect Of Growth Type, Intangible Assets, Linking Micro Competitive Behaviour And Macro And Previous Experience On The Growth Method Market Phenomena Choice Kai-Yu Hsieh, London Business School Marta Ortiz-de-Urbina-Criado, University of Rey Juan Carlos A key question in strategy research is how to relate micro competitive Luis Angel Guerras-Martin, University of Rey Juan Carlos behaviour to macro market phenomena. This paper proposes that Angeles Montoro-Sánchez, University of Complutense-Madrid analyzing market environment as a network of interfirm rivalry This paper investigates how growth type, intangible assets ties provides a micro-macro bridge. Firms’ structural positions in and previous experience determine the choice among internal an interfirm rivalry network affect their behavioural autonomy in growth, mergers/acquisitions and cooperative agreements as relation to their market rivals, and therefore affect the way they growth methods. The data set covers 1604 deals announced interact with their market rivals. Network of rivalry ties translates by. 35 European Union firms between. 000 to. 004. We find a small-scale interaction into macro market phenomena, which, in direct effect of intangible assets and undiversified growth on the turn, feedback into micro competitive behaviour. The argument is preference for internal growth. Whereas, previous experience and illustrated by showing how imitation among market rivals results in diversification make more likely the choice of external methods. market-wide diffusion of an organisation strategy. Moreover, intangible assets have a positive moderating effect on the relationship between growth type and growth mode choice. Prior Experience As A Moderator Of Rival Actions: Firm Learning In Dynamic Competition A Systems-Theoretical Analysis Of Corporate David Major, University of Maryland Layoffs And Their Effect On Stock Price With the rivalry model from competitive dynamics research, I explore Lars Schweizer, Grenoble School of Management the moderating impact of a firm’s prior experiences (both market Marco Rummer, University of Oxford and non-market). Experience is subdivided into the firm’s own and Paul Bilsdorfer, Grenoble Ecole de Management others’ experiences (vicarious experience). To these two, I introduce This paper analyses the stock price reaction on corporate layoff a third type, attended experience, as a special case of vicarious announcements within a reference framework based on systems experience – a firm’s experience with rivals to whom it particularly theory. The event study is based on an international sample of 222 attends and responds. I then investigate moderating effects of corporate layoff announcements. Our preliminary results have shown each of the three types on the destructive impact of rival actions. that the announcement of corporate layoffs leads to a significant The empirical setting is the United States automotive industry, negative stock price reaction of –1.06 %. The higher the percentage where archival data is content-coded to capture firm actions and of the company’s work-force being laid off, the more negative responses. Ultimately, final results of the analysis should reveal the stock price reactions will be. Announcements without socially performance differences by experience type. Attended experience acceptable layoff procedures will lead to significant negative stock may also yield the most durable of moderating effects. price reactions just as will announcements perceived as reactive. From a theoretical point of view, it can be seen that companies y ay d s e u t Session 1268 producing no ‘fit’ between the system and the environment have Non-Market Forces Influencing Corporate to expect significant negative stock price reactions. Level Strategy Technology Commercialization And Track F Date Tuesday, Oct 16 Complementary Assets: An Empirical Study Of Time 10:30 - 11:45 h Innovative SMEs
Common Ground Session room Executive Center 3b Elena Novelli, Bocconi University 10:30 - 11:45 Rekha Rao, Sant’Anna School of Advanced Studies Facilitator Gautam Ahuja, University of Michigan We investigate the determinants of strategies for innovative SMEs Measuring Venture Capital Effects: Which Factors and we identify control over complementary assets (CA) as the main Contribute To Start-Up Firms’ Performance factor in choosing a particular strategy. Firms’ choose between Variance? licensing out their technology, embodying it into physical artifacts, Markus Fitza, University of Colorado-Boulder or engaging in cooperative agreements. This empirical analysis Sharon Matusik, University of Colorado-Boulder focuses on a novel dataset on investments in CA and strategies of Elaine Mosakowski, University of Colorado-Boulder all innovating SMEs in U.S. and Europe between 1996-2001. We find that control over CA affects firms’ choices, with presence of In this study we apply approaches from the corporate effects assets decreasing the probability of firms undertaking cooperation literature - which analyzes the determinants of business units’ and licensing while increasing the probability of firms undertaking performance - to start-up firms. To do so we draw an analogy market for products. Also, younger firms are more likely to license between the relationship between the venture capital firm and out or to cooperate then older firms and we observe a country its portfolio companies to the parent corporation and its business effect over the determination of strategies. units. Preliminary results suggest that portfolio company specific effects, VC effects, and year effects account for significant amounts Convergence And Diversity In Corporate of variance in performance (28%, 9%, and 5%, respectively). Effects Governance: Different Governance Systems Are for industry and investment round are not significant. Although Better At Doing Different Things start-ups operate in environments different from those of business Thomas Clarke, University of Technology-Sydney units of corporations, our results indicate the sizes of the effects influencing their performance are similar in many regards. Different ownership and governance forms are better at doing different things. This paper questions whether a universal corporate governance system is practical, necessary or desirable. Each of the
San Diego | October 14-17 2007 6 5 tuesday sessions | 10:30 - 11:45
governance systems is facing pressures they need to make a strategic as their preferred instrument for expansion towards external response to, but often from different directions. As European and markets. This work aims to determine the incidence of a group of Japanese listed corporations are being forced to recognise the internal and external variables over the way Chilean agribusiness importance of shareholder value, Anglo-American corporations firms achieve their productive internationalization. Secondly, we are being sharply reminded of their social responsibilities. With explore the impact of becoming global on the firm’s market and multiple institutions exerting interdependent effects on firm level non-market strategies. outcomes, and with different values informing the objectives for the enterprise in different cultures, the scenario for convergence The Internationalisation Of Firms From Emerging and diversity of corporate governance models is more complex and Economies: The Case Of Bancolombia unpredictable than many commentators suggest. The business case Maria Gabriela Utrera, Bancolombia for diversity is, if anything, even more compelling. Monia Mtar, University of Edinburgh Research is increasingly concerned with understanding how firms Slimmer And Fitter: The Focusing Effect Of Supply from emerging markets (EEMNEs) are able to compete on the Shocks On Diversified Firms global scene. This paper aims to contribute to this debate through Curba M Lampert, University of South Carolina an examination of the internationalisation strategy of a leading Vivek Tandon, University of Michigan bank in Latin America, Bancolombia. In recent years, Latin American Gautam Ahuja, University of Michigan banks have begun to look towards internationalisation. Yet there The two most important prices in the world economy are the price is a distinct lack of research documenting those events. The study, of oil and the price of money (The Economist, 2005). How do firms which is based on interviews with Bancolombia’s executives, shows respond to a broad-based supply shock? Supply shocks encompass that EEMNEs’ successful expansion depends upon their ability to a broad range of industrial possibilities unified by a common exploit their existing capabilities abroad, combined with their effect – a discrete change in the supply conditions that result in a capacity to leverage skills needed to compete internationally. movement of the supply curve itself. Thus, deregulation, dramatic Those processes are strongly influenced by EEMNEs’ country of technological change or striking changes in input costs can all be origin, industry and host country factors. Findings have important regarded as sources of supply shock. theoretical and practical implications.
Session 1131 Session 1212 Internationalization and Emerging Building Scope Markets Track H Date Tuesday, Oct 16 Track G Date Tuesday, Oct 16 Time 10:30 - 11:45 h Time 10:30 - 11:45 h Common Ground Session room Executive Center 2b Paper Session Room Executive Center 3a Facilitator Margaret White, Oklahoma State University y ay d s e u t Session Chair Ruth Clarke, Nova Southeastern University Designing M&A Capability: A Balance Act Between Social Capital, Performance, And The Structure And Flexibility Internationalization Of Emerging Market Firms Inga Voss, University of St Gallen Ruth Clarke, Nova Southeastern University Sebastian Knoll, University of St Gallen Ramdas Chandra, Nova Southeastern University M&A markets are of opportunistic nature. Acquisitions are
10:30 - 11:45 This empirical study examines the relationship between social heterogeneous events, and often occur irregularly. This makes capital, as a non-market and facilitating resource, and measures of learning from M&A difficult. Yet, some frequent acquirers succeed performance in the context of the internationalization of emerging in developing M&A capabilities. We assume an acquisition strategy market firms. Performance is measured by objective economic data perspective, and conduct a process study on M&A capability including revenues of the firm, international revenues, and growth development and deployment based on comparative case studies in firm revenues, in revenues from international markets, and combined with some quantitative elements. M&A capability is number of international customers, repeat customers and other conceptualized as a dynamic capability reconfiguring the company’s financial measures of performance. Information on firm motivators existing operating resource and capability base. It comprises the to internationalize, the role of networks in providing access to routinized processes of sensing, adapting, coordinating, and learning. international markets and the extent to which networks are used We investigate the development of these process dimensions in for marketing research and information is collected. The study uses four strategic business units of the multinational Siemens AG. a condensed version of two survey instruments, SOCAT and SC-IQ, Our findings imply that successful capability development and obtained from the World Bank, and is administered in one or two deployment requires both a processual orientation framework and emerging markets. flexibility to adapt to the specific environment. Critical Factors For The Productive The Typology Of Sequence Of Firms’ M&A And Internationalization Of The Chilean Agribusiness Alliance Behaviors: An Exploratory Analysis Firms: Theory And Evidence Weilei (Stone) Shi, University of Pittsburgh Francisca Silva, Catholic University-Chile John Prescott, University of Pittsburgh From the beginnings of the nineties, a strong process of We extend the study of mergers & acquisitions and alliances internationalization of Chilean firms has been carried out. This initiatives to include a temporal perspective. Of particular interest phenomenon reflects a change in the approach of some companies is the sequence of firms’ M&A and alliances behaviors. Combining that have privileged, over direct exports, investment abroad methods of sequence analysis and clustering analysis, we find seven
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distinctive typologies of firms’ patterns of sequences. We provide Managers may recognize and adjust crucial levers in optimizing arguments on the reasons for strategy scholars to pay a close their portfolio configuration approach. attention to the issue of sequence and the pattern of sequence. We also discuss the plan to study how these patterns of sequences Session 1057 will be affected by firm-level resource and capability as well as their Effectiveness performance implication. Our study opens a new window for firms to create competitive advantage, namely, managing strategic actions Track H Date Tuesday, Oct 16 effectively against time. Time 10:30 - 11:45 h Paper Session Room Nautilus 3 The Influence Of Capabilities Gaps, Exchange Hazards, And Complex Knowledge On R&D Session Chair TBD Sourcing The Role Of Internal And External Resources In Jason Pattit, Syracuse University Gaining A Competitive Advantage Catherine Maritan, Syracuse University Andrea Lanza, University of Calabria R&D capabilities involve routines that combine scientific and Antonella Pellegrino, University of Calabria technological knowledge toward the pursuit of new products Simone Giuseppina, University of Calabria and processes. However, a firm’s ability to conduct an R&D project Recent literature in Resource-based view focused on a network is impacted by where in the capabilities lifecycle the firm’s R&D perspective in order to explain why some firms can reach a superior capabilities are. When faced with a capabilities deficiency, a firm performance. This paper aims at exploring the role of external can address this gap by either developing capabilities internally or resources in a specific context, the Italian Mechanical Industry, acquiring them from various non-internal sources. In this study, we in obtaining a competitive advantage over competitors. While explore a two-stage R&D sourcing decision process in the context interesting in verifying the sources of firm performance, the of the medical device industry. We suggest that capabilities issues network approach is considered as a ‘context-dependent’ one. impact the first stage decision between internal and non-internal The search for superior firm performance still remains a hard task, R&D sources, while the second stage decision between the various dependent on specific industry conditions. This paper presents non-internal options is influenced by both transaction cost and the result of an investigation on a 124 firm sample on the role of capabilities factors. internal and external resources in determining firm performance, Strategic Alliance Evolution And Formation: A tested by means of Lisrel. Results show a positive impact of internal Meta-Analytic Study resources and a negative one for those external. Bahman Ebrahimi, University of Denver The Impact Of Organizational Politics On Strategy Paul Olk, University of Denver Effectiveness As an alliance evolves, there are changes in the context – Jane Gunn, Australian National University environment, company characteristics, the relationship between Stephen Chen, Australian National University ay d s e u t the partners – and in the alliance itself. Because of difficulties in This study makes a contribution to an under-explored area in collecting longitudinal data, current research has not developed strategy process research - the relationship between strategy a comprehensive, empirically-based understanding of alliance process effectiveness and organizational politics (OP). This is a evolution. This paper contributes to strategic process research fruitful area of inquiry since strategy processes are related to firm by examining how changes in the context affect early or interim performance while organizational politics has been shown to have
performance and how the context and initial performance affect 10:30 - 11:45 a negative impact many aspects of organizational performance. long term stability and termination of the alliance. To overcome data Results from this study suggest that organizational politics can collection limitations, this study uses meta-analysis methodology have both a positive and negative impact on strategy effectiveness. and draws from the fragmented findings from hundreds of Using structural equation modeling, the paper demonstrates the empirical studies. Our research will contribute not only to the moderating effect of participative, iterative planning and explores process view of strategic alliances but also to our understanding of how power centralization and organizational climate impact the alliance performance. relationship between OP and strategy effectiveness. Implications Towards A Process-Based Model And Rationale Of for further research and management practice are discussed. Resource Allocation In Portfolio Configuration Of Modeling The Relationship Between Strategy, Multibusiness Firms Management Control Systems And Performance In Alexander Alscher, University of St. Gallen The Not-For-Profit Sector Although there has been a long history in examining the Basil Tucker, IGSB, University of South Australia phenomenon of multibusiness firms, their diversification levels, Helen Thorne, University of South Australia and portfolio management, hardly any research has analyzed the Bruce Gurd, University of South Australia process behind the strategic portfolio configuration. Activities of The body of knowledge relating to the interaction between M&A investments, divestitures, and alliances have been analyzed strategy, management control systems (MCS), and organizational as separate activities and as static concepts. This research study performance is relatively embryonic, our understanding of it having contributes to a process perspective of the compound activity of been gained primarily through research grounded in commercial portfolio configuration by theoretically proposing a coherent model organizations. Using the Not-For-Profit (NFP) sector as a vehicle to of portfolio configuration and empirically testing it in the largest test extant knowledge, this paper investigates the strategy-MCS- German multibusiness firms. Thus, a comprehensive understanding performance relationship through a survey of 401 Australian NFP is aimed at understanding the process and revealing rationales of organizations. Our results using structural equation modeling portfolio configuration of multibusiness firms in different contexts.
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indicate that, contrary to expectations, strategy is formulated focal firms’ performance. The model is tested on a sample of 53 predominantly through intended rather than emergent means, the biotechnology firms over a span of 15 years (1990-2004). The design of MCS has limited effect on both strategy formulation and results indicate significant effects of network size, network growth implementation, but the use of MCS is instrumental in influencing and inclusion of new members in the network on the research internal capabilities and indirectly, in influencing performance productivity of biotechnology firms. Moreover, our results reveal the in this sector. Reasons explaining these results are advanced, and significance of the management challenge presented by research implications for future research are discussed. networks, specifically indicating that growing networks by adding new and diverse members presents significant challenges for the The Effective Ambidextreous Organization: A managers of the firms in our study. Model of Integrative Strategy-Making Processes Torben Juul Andersen, Copenhagen Business School In Search Of Innovation: An Examination Of Firm Bo Nielsen, Copenhagen Business School Geographic And Relational Search Behavior The dual requirements for business exploration and economic Manish Srivastava, Virginia Tech exploitation in the strategy process reflect the need for Donald E Hatfield, Virginia Tech organizational ambidexterity to sustain performance. This paper Recent research suggests that firms face several dilemmas with incorporates strategic management and organization theoretical regards to their search behaviors associated with innovation rationales in a model of integrative strategy making that extends generation. In spite of the growing realization of the importance the evolving literature on ambidextrous organizations. Hypotheses of external knowledge search, we have little understanding on relevant model relationships of ambidexterity are developed and of the relative effectiveness –and trade-offs– associated with associated with organizational outcomes. The model is investigated relational and geographic search upon the quantity and quality of on a cross-sectional sample of 185 business units using structural innovations. In our study of semiconductor firms, we investigate equations analyses. The results indicate that centralized and the relative effectiveness of geographic proximate and relational decentralized strategy making processes integrating organizational proximate search behaviors – focusing on the interdependency innovation and coordination capabilities are associated with higher of these. We suggest that it is not enough to consider formal co- strategic responsiveness and superior performance. operative ventures when devising innovation strategies, but to also consider the simultaneous impact of geographic proximity in order Session 1097 to improve the innovativeness of their organization. Interfirm Collaboration and Innovation Innovation And Experience In Technology Track I Date Tuesday, Oct 16 Acquisitions: A Longitudinal Study Time: 10:30 - 11:45 h Derek Ruth, Wichita State University Paper Session Room Executive Center 1 Dinesh Iyer, Ohio University Barton Sharp, Purdue University Session Chair John Hagedoorn, University Maastricht
y ay d s e u t Technology acquisitions are often designed to gain access to Inter-Firm Technology Transfer: Partnership- target firms’ innovations. As a result, patterns of innovation in Embedded Licensing Or Exclusive Licensing potential acquisition participants (both acquirer and acquiree) Agreements? should influence the decision to participate in the joining of John Hagedoorn, University Maastricht the firms. In particular, we expect higher levels of innovation in Stefanie Lorenz-Orlean, University Maastricht potential acquirees to increase the likelihood of their acquisition. Conversely, we expect that lower in-house innovative production 10:30 - 11:45 Hans Van Kranenburg, Radboud University Nijmegen will spur the acquirer to look beyond firm boundaries for new When companies decide to engage in technology transfer through innovations and increase the likelihood of acquiring another firm. licensing to other firms, they have two basic options: to use standard Prior experience with acquisitions is expected to accentuate both of licensing contracts or to set-up more elaborate partnership- these relationships. These predictions are explored in a longitudinal embedded licensing agreements. We find that broader partnership- study of technology acquisitions that took place between 1980 and embedded licensing agreements are preferred with higher levels of 2000. technological sophistication of industries, with greater perceived effectiveness of secrecy as a means of appropriability, and when licensors are smaller than their licensees. Innovative differentials Session 1107 between companies, innovative supremacy of the licensor, and What do strategists do? market and technological overlap between partners appear to have Track J Date Tuesday, Oct 16 no effect on the preference for a particular form of licensing. Time 10:30 - 11:45 h Research Collaboration Networks And Innovation Paper Session Room Nautilus 4 Output Session Chair Leif Melin, Jönköping University Irem Demirkan, Northeastern University David Deeds, University of Texas-Dallas What Strategists Do In Multiple Identity Mike Peng, University of Texas-Dallas Organizations This paper uses a longitudinal approach to test a model of Urs Peter Jäger, University of St Gallen the structure and dynamics of interorganizational research Our research starts from the observation that non-market influences collaboration networks. Using novel longitudinal methods, this leads to the phenomenon of Multiple Identity Organizations (MIO). paper demonstrates how research collaboration networks in the Therefore, it is worth exploring how strategists effectively support biotechnology industry evolve and how this evolution affects strategic change processes in MIO. We analyzed strategic change
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processes in a detailed three-year longitudinal case study analyzing In this study we examine the relationship between entrepreneurial daily practices of the CEO, the top management team, leaders of strategies and performance of technology-based ventures by decentralized organizations, the team of the strategy department testing data from 39 high-tech SMEs of Southern Italy. Specifically, and project managers in a cooperative bank. Our results describe empirical investigation in two different times,. 001 and. 007, how practices effectively influence strategic change processes. wants to disclose the process of wealth creation in relation of These results are counterintuitive: Strategists on the one hand avoid two fundamental elements of entrepreneurial strategies: internal transparency in their actions to support strategic change processes resources/capabilities and external networks. In our paper we and on the other hand spend a high amount of time legitimizing consider 39 high-tech SME operating in the South of Italy, an strategic contents and blending interests to avoid conflicts between environment with specific characteristics of munificence in terms different identities. of conditions that enable and support opportunity seeking and advantage seeking behaviours. With this study, we want to Successful Strategic Issue Sustaining: Practice And analyze the wealth creation processes occurring in high-tech firms Outcomes For Senior Managers operating in less enabling business environments, to develop Basak Yakis-Douglas, Oxford University theoretical insights which could inform further researches on Richard Whittington, University of Oxford strategic entrepreneurship. Our aim is to establish the importance, and explore the nature of, Strategic Issue Sustaining. We also seek to outline the senior The Antecedents Of Technology Partnering management activities/practices required for successful Strategic Issue Networks And Firm Performance Within High-Tech Sustaining and discuss the implications of these kinds of activities Clusters for the development of Human Resource managers’ skills. Taking Christian Lechner, Groupe ESC-Toulouse a practice perspective, we conducted longitudinal, comparative- This research is concerned with antecedents and performance case studies in five high-tech companies over 18 months within 24 effects of technology partnering networks. We test first how issue domains. We propose three categories of activity important the structure of technology partnering networks influences to successful issue sustaining: cognitive/symbolic; structural/ the performance of cluster firms. Second, how reputation and bureaucratic; and political. Cognitive activities included creating information sourcing networks influence the development of and using hard metrics; structural/bureaucratic activities included technology partnering networks. The empirical research is based fixing regular meetings, ensuring appropriate communications, and on an in-depth study of a high-tech cluster in France. The cluster gathering relevant data; and political activities included influencing concerns the full population of the region’s firms (60 firms). The and negotiating activities, and a range of activities designed to keep main contributions are: We test the influence of different networks issues closely connected with strategic objectives. and factors on the development of technology partnering networks. There are important implications for entrepreneurs: how can the The Roles Of Strategic Planning Champions In The development of successful technology partnering networks be Family Business Context favored by the development of other types of networks?
Mattias Nordqvist, Jönköping University ay d s e u t Leif Melin, Jönköping University User-Innovation Beyond Market Barriers: The Case Our purpose is to contribute to the understanding of the craft of Of Machinima strategic planning champions (SPC) in the family business context. Georg Von Krogh, ETH Zurich We draw on a conceptual framework that combines the strategy Stefan Haefliger, ETH Zurich as practice perspective with literature on strategic planning. The Peter Jaeger, ETH Zurich
notion of SPC refers to practitioners who use their technical, In many fields and industries, users create technologies in order to 10:30 - 11:45 practical and intuitive skills and experiences to introduce, promote solve their problems. User-innovation theory examines the role of and implement strategic planning. In an empirical study, we observe users as a main source of innovation and explains the conditions three separate but related roles of SPCs. The roles are additional under which users innovate. This theory’s focus is ‘vertical’ showing to the generic role of the skillful strategic planner. We label how users move from ideas, to solutions, to commercialization. them the social craftsman, the artful interpreter and the known Yet, users can move beyond market boundaries, giving rise to stranger. To perform these three roles and be influential, the SPC ‘horizontal user-innovation theory’. Here, users exploit assets freely must understand, respect and leverage upon the uniqueness of the or restrictively revealed in one market, in another market. In this family business context. article we develop a model of horizontal user-innovation that takes into account the fungibility of complimentary assets, IP regimes, Session 1182 and user entry strategies. We conduct a first test of the model on Entrepreneurship & Innovation the case of Machinima, a community of digital movie entrepreneurs who apply 3D game-engines. Track K Date Tuesday, Oct 16 Time 10:30 - 11:45 h Flexibility And Change: Growing Within And Common Ground Session room Executive Center 2a Across Technology Regimes In The United States Cellular Industry Facilitator William Schulze, University of Utah Pao-Lien Chen, University of Illinois-Urbana Champaign Internal Resources, External Networks And Charles Williams, Duke University Performance: A Longitudinal Study On Technology- This paper compares the adaptive capacity of entrepreneurial Based SMEs Of Southern Italy (2001-2007) startups and diversifying entrants in an emerging market. While Francesco Garraffo, University of Catania entrepreneurial firms are widely viewed as more flexible and Daniele Virgillito, University of Catania adaptive than established firms, research has also found that established companies bring substantial advantages when they
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enter new markets. We propose that the different types of firms have inter-organizational endorsement. Studying a group of VC-backed adaptive advantages under different conditions. Entrepreneurial ventures facing the same opportunity to partner with an industry firms can configure their resources to closely match the demands leader, we found that, with different types of legitimacy provided of the competitive environment as they build their operations, but by their VC investors, ventures exhibited different likelihood as established firms will exhibit greater ability to reconfigure their well as timing of partnering with the industry leader. These results resources after an external shock. We test these propositions in the suggest a more nuanced and elaborate view of legitimacy and U.S. cellular industry, which has gone through several significant legitimacy building. changes in technology standards over the history of the market. Evaluating New Social Ventures: Venture Inventor Bricolage And Technology Development Capitalists’ Assessments Of Effective Social Preeta Banerjee, University of Illinois-Urbana Champaign Entrepreneurship Benjamin Campbell, Ohio State University Toyah Miller, Texas A&M University The literature on bricolage typically overlooks the capabilities of Venture capitalists have long held an important role in the individual, however one resource that can be reallocated and entrepreneurship through their evaluation and funding of new recombined to address new problems and opportunities is human business ventures, and a more recent trend towards venture capital capital. In this paper, we examine the role of inventor bricolage, or funding of social ventures has transformed social entrepreneurship. the construction of technological capabilities through reallocating While research has examined venture capital assessments for extant individual inventors across knowledge development to profit-seeking ventures, little is known about the decision rules address new opportunities. We argue that inventor bricolage is that philanthropic venture capitalists use to select social ventures. affected by both internal and external capabilities. Empirically, we Therefore, I build on the definition of social entrepreneurship, examine the dynamics of individual patent portfolios in Life Science discussing the pluralistic attributes needed for venture Diagnostics firms and explore how inventor bricolage is related to effectiveness (e.g., entrepreneur experience, education, passion, the firm’s stock of existing capabilities and firm’s acquisition of social capital, and innovative thinking) and evaluate the degree external knowledge through merger and acquisition activities. to which philanthropic venture capitalists assess social ventures in terms of these characteristics. The study analyzes responses from Systems Of Innovation: The Impact Of Public R&D philanthropic venture capitalists that evaluated the probability of Investment On Nanotechnology Entrepreneurship effectives of cases on social ventures and puts forth new directions Renee Rottner, University of California, Irvine for research on social entrepreneurship. Jennifer Woolley, University of California-Irvine Despite a growing body of literature on the effects of public research Investment Decision Processes: Established on private sector innovation, the specific channels through which Companies Versus Venture Capital Firms these effects are realized remain poorly understood. In this paper, Dodo zu Knyphausen-Aufsess, University of Bamberg we examine two channels that connect public research support Christian Braeunlich, University Bamberg/Bain&Company
y ay d s e u t to new ventures, specifically state-level technology initiatives, Empirical evidence shows that Venture Capital (VC) firms tend to and university-level technology initiatives to foster innovation in perform better than established companies. Since both types of nanotechnology. We find that the creation of a state technology firm have similar structures – they contain an administrative unit initiative not only reduces the time to the founding of the first (corporate headquarters vs. VC firm) and a number of operating technology firms in the state, but also positively influences the units (divisions or business units vs. portfolio companies) –, number of technology firms founded. We also provide insights a comparison makes sense. We focus on investment decision into the emergence of systems of innovation using the example processes and analyze how these processes look like in both types 10:30 - 11:45 of nanotechnology as a new field of science with no incumbent of companies and what established firms can learn from VCs (and industrial support and little scientific infrastructure. also vice versa). Based on five case studies – two on established and three on VCs –, we show that the basic tenets of the so-called Session 1186 Bower-Burgelman model hold for both types of companies but Financing Entrepreneurship that, especially in the VC case, also important modifications have to be made. Track K Date Tuesday, Oct 16 Time 10:30 - 11:45 h Entrepreneurs’ IPO Decision: An Analysis Of Firm Common Ground Session room Executive Center 4 Risk Propensity And Competitive Dynamics Asda Chintakananda, Marquette University Facilitator TBD Hugh O’Neill, University of North Carolina-Chapel Hill Peeling The Onion Of New Venture Legitimacy: This research examines how young private firms manage their Venture Capital Investors And Partnering With An entrepreneurial growth through the timing of their initial public Industry Leader offering (IPO). Specifically, it examines how the risk propensity of Qing Cao, University of Connecticut firms towards the financial market and product market conditions Dimo Dimov, University of Connecticut may influence firms’ decisions whether to launch and when to launch their IPO differently. We also explore if firms’ response to Associating with legitimate investors or partners is an important uncertainty is contingent upon the level of competition in both mechanism for entrepreneurial ventures to build legitimacy. In this the IPO market and the product market. We also develop a set of paper, we go beyond the general conceptualization of organizational contrasting hypothesis based on real options, risk propensity, and legitimacy as being socially acceptable and desirable, to distinguish competitive dynamics and test them on a set of 3,180 firms that three types of legitimacy – cognitive, moral, and pragmatic – and were established between 1980-1996. examine their distinct effects on ventures’ behaviors in seeking
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The Impact Of Competitive Risk And Board that establishes the role of decision comprehensiveness as a salient Characteristics On IPO Underpricing mediating mechanism through which environmental scanning Shih-chi Chiu, University of Missouri-Columbia influences corporate entrepreneurship. Results from our study of 349 Richard Johnson, University of Missouri small- to medium-sized firms support our model and its associated hypotheses, suggesting that relying solely on the direct effects of Drawing from agency and resource-based theories, this paper environmental scanning provides an incomplete understanding of the extends prior research by examining the relationship between origins of CE. Specifically, we find that decision comprehensiveness is board and managerial characteristics, competitive risks, and IPO significantly influenced by scanning intensity and, in turn, mediates underpricing. We posit that competitive risks strengthen the the impact of scanning intensity on CE. We trace the implications of negative relationship between the agency predictors (insider these findings for research and managerial practice. equity, outsider ownership, and CEO duality) and IPO underpricing. In addition, we argue that resource-based predictors (outsider Start-Up Performance And Incumbent Firm experience, insider experience, and insider ratio) will further reduce Corporate Development Efforts: Opportunities the level of IPO underpricing when competitive risks are identified. And Constraints Based on the sample of 313 ventures that had gone through an Vikas Aggarwal, University of Pennsylvania initial public offering (IPO) between 1990 and 1994, our initial findings suggest that management and board members of IPO This paper examines the impact of incumbent firm relationships on firms facing prominent competitive risks will have more incentives the growth and development of entrepreneurial firms. Strategic to reduce underpricing than firms not facing such risks. relationships between incumbents and start-ups can take on a variety of forms, ranging from technology licensing arrangements to equity alliances and corporate venture capital investments. Session 1168 Whether and when such relationships offer tangible strategic Corporate Entrepreneurship benefits to the start-up (as opposed to the incumbent) depends Track K Date Tuesday, Oct 16 on factors at the firm and dyad levels, including the strategic vs. Time 10:30 - 11:45 h financial intent of the deal and the incumbent firm’s approach Paper Session Room Marina 4 to managing its portfolio of start-up options in anticipation of technological change. Empirical analysis of a sample of start-ups Session Chair TBD examines these relationships and portfolio choices, and explores the consequent opportunities and constraints for entrepreneurial Real Options And The Choice Between Corporate firms. Venture Capital And Acquisition Yong Li, State University of New York-Buffalo Corporate Venture Capitalists As Acquirers Of Tony Tong, State University of New York-Buffalo Entrepreneurial Firms: Trade-Offs And Performance Existing research has utilized real options theory to analyze Implications
venture capital investment, yet little work has empirically studied David Benson, University of Michigan ay d s e u t such investment in a comparative setting. In this paper, we begin Rosemarie Ziedonis, University of Michigan to address this gap by investigating firms’ investment mode choice Acquisitions are a well-recognized means by which established between corporate venture capital (CVC) and acquisition, which firms renew and extend existing product lines and internal provide alternative means for direct equity investment to further research capabilities. This study examines linkages between the firms’ growth initiatives. Our theoretical argument suggests that external venture financing activities of established firms and when uncertainty elevates the value of real options, firms prefer to
their performance when acquiring young technology-intensive 10:30 - 11:45 undertake CVC investment rather than acquisition. In addition, the companies. Drawing on the absorptive capacity and organizational value of real options under uncertainty is also contingent on several learning literatures, we argue that the extent to which corporate factors, which may further condition firms’ investment mode choice. venture capital (CVC) investments will enhance the startup Our findings indicate that uncertainty is positively related to firms’ acquisition performance of corporate investors hinges on (1) the preference for CVC over acquisition, and that the irreversibility share of total R&D dollars devoted towards external ventures (‘CVC of an investment will increase the impact of uncertainty on firms’ intensity’), (2) the internal organization of CVC-related activities preference for CVC, while growth opportunities surrounding the and (3) the stability of CVC investments over time. To test these investment will lessen the impact. Our empirical findings and the predictions, we conduct an event study of abnormal returns comparative approach we adopt to studying CVC have useful based on acquisitions of. 44 venture-backed startups made by implications for theory and research. 36 corporate investors in the information technology sector. As predicted, we find a curvilinear relationship between CVC intensity Environmental Scanning And Corporate and acquisition performance. We also find that established firms Entrepreneurship In SMEs: The Mediating Role Of with stable CVC programs earn significantly greater returns when Decision Comprehensiveness acquiring startups than corporate investors with more sporadic Ciaran Heavey, University of Connecticut patterns of investment. These results suggest that corporate Zeki Simsek, University of Connecticut venture capital and acquisitions of startups can be used as mutually Frank Roche, University College Dublin reinforcing mechanisms for renewal. Aidan Kelly, University College Dublin A firm’s environmental scanning behaviors have implications for its ability to pursue corporate entrepreneurship but the mechanisms underlying this impact have remained largely unexplored. Given that strategic decision makers in the firm are most closely influenced by scanning efforts, we develop and test a parsimonious model
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Session 1172 Education Mix And Magnitude: Lessons From The Venture Capital Analysis Of Venture Capital Team Characteristics Oliver Gottschalg, HEC-Paris Track K Date Tuesday, Oct 16 Nils Plambeck, HEC-Paris Time 10:30 - 11:45 h Paper Session Room Marina 2 How do the characteristics of the venture capital fund investment team influence the performance of this fund’s investments? In Session Chair TBD addressing this question, we focus on different aspects of the educational background of individual managers and the educational The Light And Dark Sides Of Venture Capital: homogeneity in the team. Drawing on a unique dataset with Learning And Innovation In New Ventures information on the financial performance of. 44 venture capital Jeffrey Martin, University of Texas-Austin funds and the education profiles of the 1288 senior managers This paper explores the affordances and constraints that venture running these funds, we find evidence for the important role of capital funding can have on learning and innovation in new degrees in engineering and the arts, diplomas from elite schools, ventures. Much of the literature related to the influence of venture ideally from a mix of elite institutions as positive determinants of capital on new venture emphasizes positive learning aspects like the ability of a venture capital fund to outperform its peers. access to expertise and networks. However, this research finds is that there can be a dark side such learning. The venture capital funding model is a ‘pre-packaged solution’ that aligns the actions and motivations of the individuals in the venture with the goals of the venture capital fund. Yet, in some cases such alignment can prevent entrepreneurs developing and acting on more optimal business strategies. The examination of this issue contributes insights at the intersection of organizational learning, resource dependence theory, and practice theory. Economic Integration’s Effect On International Venture Capital Firm Investing Behavior Curtis Moore, Texas Christian University Hadi Alhorr, Saint Louis University Despite major policies surrounding economic integration among countries (e.g., the European Union, NAFTA, Mercosur), the theoretical and empirical research addressing such policies’ impact on various venture capital firms’ business activities has yet to fully
y ay d s e u t emerge. Partially addressing this issue, this paper examines how various measures of economic integration (e.g., market and currency commonality, economic community membership) impact the level of cross-border entrepreneurial activity occurring for participating venture capital firms by analyzing the VC firm behavior. Using the European Union as the region of study, findings demonstrate that
10:30 - 11:45 broad scale economic integration policies do influence the extent of foreign entrepreneurial activity occurring across member borders by venture capital firms. Do United States Venture Capital Firms Make A Difference? An Analysis Of Liquidity Events In Foreign Biotechnology Firms Elisa Alvarez-Garrido, Wharton, University of Pennsylvania I argue that a venture’s performance is driven by the nature, composition and experience of its investors. I predict that the greater the experience of the investors with previous successful liquidity events, the more likely the venture will witness such successful performance. I also predict that the participation of a U.S. investor in the syndicate will increase the performance of the venture by increasing the likelihood of a successful exit and the likelihood of IPOs over trade-sales. To test these hypotheses I collect a panel of 493 foreign biotechnology investments, from 1990 to 2004. Using an event history analysis, and controlling for endogeneity, I find partial support for the investor’s experience effect and strong support for the presence of a U.S. VC in the syndicate.
7 2 SMS 27th Annual International Conference 14:00 - 15:15 | tuesday sessions
Special Session 1304 Scorecards For Non-Market Strategies: Which Factors Determine Presence And Alignment Of Sustainability Measures With Strategy? TEACHING TRACK Date Tuesday, Oct 16 Stephen Gates, Audencia Time 14:00-15:15 h Christophe Germain, Audencia Presentation Room Seabreeze Few empirical studies exist about whether sustainability measures Strategy Simulations: A Second Life Using Second (i.e., measures of environmental, social or economic non-market Life? performance) are incorporated into scorecards or more broadly into management control systems (MCS). We investigate whether Session Presenter Tony O’Dristoll, North Carolina State University sustainability measures are present in MCS and whether they are Don’t have an avatar yet? Don’t understand what your colleagues aligned with strategy. Using contingency theory, we examine eight are talking about when they mention “virtual worlds”? This session factors to explain why these practices vary across companies. Our will offer attendees an opportunity to learn about multi-user results indicate that capital structure, stock market listing, industry, virtual environments (MUVEs) and discuss whether these new 3D and type of MCS (balanced scorecard versus tableau de bord) explain online digital worlds have a role to play in the next generation of why sustainability measures are more likely to be present in MCS. strategy education. Tony O’Dristoll, the Lead Learning Strategist Companies listed on the stock market and industrial companies with IBM’s Center for Advanced Learning and a Professor at are more likely to align sustainability measures with strategy. North Carolina State University, is responsible for advancing IBM’s Suggestions for future research include adopting a population thought leadership in formal and informal learning. His research ecology perspective. is focused on theory and methodology development and applying this learning in corporate and education settings. A renowned From Measurement To Management: Investigating expert on the topic of learning in virtual environments, Tony Who And What Really Counts Through Non- has advised business leaders around the world on techniques for financial Reporting leveraging technology in order to create a sustainable competitive Francesco Perrini, Bocconi University advantage. Tony will conduct a virtual session via “Second Life,” Clodia Vurro, Bocconi University an example of a 3D online digital world. As part of the session, This paper reviews the experience of the Italian Stock Exchange he will discuss his concept of “the seven sensibilities” of virtual companies that publish a corporate social responsibility (CSR) worlds, and he will share his thoughts on how they could be a report. We aim to contribute to the development of country- key pedagogical tool in teaching. This session will end with a specific descriptive CSR theory by establishing a benchmark discussion by participants of how MUVEs could be employed in understanding of how companies in the same social context their own strategic management classrooms. interpret their responsible relationship with stakeholders. Using content analysis of annual CSR reports, we provide an up-to-date Session 1164 description of current practices, documenting and analyzing current Non-Market Scorecards prioritization in terms of CSR disclosure themes. The results show ay d s e u t that Italian companies share a systematic approach to CSR reports Track C Date Tuesday, Oct 16 that address well-defined categories of stake-holders. Moreover, Time 14:00 - 15:15 h companies amass a wide range of disclosure themes in order to Paper Session Room Executive Center 1 support relation-ships with their social environment and facilitate Session Chair TBD management decisions. 14:00 - 15:15 Process And Outcome Measures Of Show Me The Money: Measuring Corporate Environmental Performance Government Affairs Performance Dror Etzion, IESE Business School Doug Schuler, Rice University The environmental performance of firms is typically assessed using Marc Epstein, Rice University both process and outcome indicators. Utilizing a particularly salient We propose a framework ties corporate and business unit strategies measure of environmental performance - which incorporates to government affairs strategy, evaluates the inputs and processes energy and water usage, greenhouse gas emissions and waste undertaken within government affairs, examines the government generated - I test whether various environmental process affairs’ outputs towards internal and external stakeholders, indicators are tightly or loosely linked to outcomes. Analysis considers how stakeholders’ behavior is affected, and estimates the reveals that declarative processes (environmental reporting, impact on long-term financial performance from such stakeholder environmental policies, and environmental codes of conduct) reactions. Such a model helps senior managers make decisions are significant for determining performance, whereas structural about whether to fund government affairs activities and how to indicators (hierarchical level of environmental executives, board allocate resources among activities. of director involvement) are not. Environmental management systems help environmentally-minded firms achieve performance improvements, even without external auditing/verification, but these systems are not effective for firms that do not prioritize environmental issues.
San Diego | October 14-17 2007 7 3 tuesday sessions | 14:00 - 15:15
Session 1235 model of optimum firm growth. Our research suggests that there are Emerging Multinationals From The firm-specific corridors of optimum growth and that they may have South of the world: challenges and a significant effect on firms’ long term-performance. Our research opportunities shows that a company’s minimum growth requirement results from shareholder’s earnings expectations and that the upper boundary of Track D Date Tuesday, Oct 16 growth is defined by the firm’s sustainable growth rate. Time 14:00 - 15:15 h Panel Session Room Nautilus 5 An Examination Of The Relationship Between Moderator . Perceived Hypercompetition And Strategic Alliance Francesco De Leo, Wind Telecomunicazioni S.p.A Formation Panelists Shalei Simms, Rutgers University Gianni Lorenzoni, University of Bologna dt ogilvie, Rutgers University Joan E. Ricart, IESE Business School In recent years scholars and practitioners alike have demonstrated Richard Rumelt, UCLA an increased interest in hypercompetition, and constant state of Joe Santos, INSEAD escalating competition. However, subsequent research has argued Jonathan Frost, Strawberry Communications that it may not be the environment itself, but the actions of One of the key power-shifts taking place across the corporate organizational leaders that have lead to the perception of such world is the emergence of multinationals coming from the South an environment. We argue that this perception is directly related of the World. For the first time in the history of modern capitalism to the forms of strategic alliances organizations will employ. multinational organizations headquartered in the South side of Specifically higher perceptions of hypercompetition will trigger the world are leading the consolidation of large, scale intensive shorter-term relationship, while lower perception will result in industries, such as telecommunications and steel. This panel aims at longer-term alliances. addressing a number of fundamental issues: 1) While looking at the Focus Or Diversify? Antecedents And power shift taking place across the corporate world, are emerging Consequences Of Organizational Scope Setting multinationals headquartered in the South of the world different Decisions in kind, or do they represent an evolutionary step from traditional organizing models? and. ) Why are they different, and to what Tomi Laamanen, Helsinki University of Technology extent will they affect the allocation of resources on a global basis? Philip Rosenzweig, IMD In this paper, we extend the existing research on technological diversification by examining diversification decisions over the course Session 1246 of the evolution of the global biopharmaceutical industry from 1990 Discussions about Firm Boundaries to 2004. The findings of our empirical analyses corroborate the earlier Track E Date Tuesday, Oct 16 research on the endogenous nature of diversification decisions by
y ay d s e u t Time 14:00 - 15:15 h showing that they tend to be related on the prior performance of Common Ground Session room Executive Center 4 the biopharmaceutical firms. However, as an extension to the earlier research, we find that different performance measures relate to Facilitator Jeffrey Reuer, University of North Carolina diversification decisions differently. Our paper contributes to an The Human Factor: Resource-Based Thresholds to improved understanding of the antecedents and consequences of Optimum Firm Growth organizational scope setting decisions. We also extend the earlier research on the cognitive framing of strategic decisions. 14:00 - 15:15 Flora Ferlic, University of St Gallen Sebastian Raisch, University of St Gallen Alliance Strategy And Value Creation: The One of the most controversial issues in the growth literature Challenge Of Non Market Influences is whether there is an optimal growth rate that maximizes firm Antoine Hermens, University of Technology Sydney performance. Contrary to prior research, we argue that optimum The purpose of this research study is to achieve a greater growth rates are firm-specific and, as such, cannot be established understanding of the countervailing forces that simultaneously across whole populations of firms. Drawing on the literature on the push an alliance together and pull it apart and how these tensions resource-based view of the firm, we develop a model of optimum impact the evolution and outcomes of the alliance. The research firm growth. Our research suggests that there are firm-specific problem the study’ examines is whether alliance performance is corridors of optimum growth and that they may have a significant influenced by market or non market factors. The research findings effect on firms’ long term-performance. Thereby, a company’s suggest that the overall level of contribution (perceived value minimum growth requirement is determined by its amount of created) of an alliance to the individual alliance firms decreases human resource slack and the upper boundary of growth arises out over time. As a result, alliance partners will seek to influence of the ‘Penrose effect’. performance by adopting various approaches. We link the synthesis The Growth Corridor: Financial Thresholds To between paradoxical internal competing forces and non market Optimum Firm Expansion forces to alliance outcomes Flora Ferlic, University of St Gallen Complex Service Organisations: Blown To Bits And One of the most controversial issues in the growth literature is whether Reassembled there is an optimal growth rate that maximizes firm performance. John McGee, University of Warwick Contrary to prior research, we argue that optimum growth rates Bridgette Sullivan-Taylor, University of Warwick are firm-specific and, as such, cannot be established across whole Service organisations and service industries have become more populations of firms. Drawing on financial theories, we develop a complex. Once, it could have been said that service firms employed
7 4 SMS 27th Annual International Conference 14:00 - 15:15 | tuesday sessions simple technologies, manifested short and simple value chains Dynamic Capabilities And Organizational with elementary technology and were held to be the province Transformation In The Russian Oil Industry of unskilled workers and equally unsophisticated managers. Sarah Dixon, Kingston University Following from the seminal ‘Intelligent Enterprise’ (Quinn, 1992), Klaus Meyer, University of Reading writings on service firms began to demonstrate the importance Marc Day, Henley Management College of economies of scale and scope, just as in manufacturing, and In this paper, we develop a theoretical framework that explains knowledge intensity in services has latterly been recognised as the linkages between organizational learning and dynamic one of the key driving forces behind the growth of services and capabilities and how they affect organizational transformation. the emergence of complex service organisations. We explore how In interpreting the findings of four longitudinal case studies in a service provider designs and develops complex services and how the Russian oil industry, covering a 10-year period, we establish the researcher seeks to analyse the structure and dynamics of first, that exploitation learning enhances the dynamic capabilities service offerings. used in the deployment of resources to develop operational capabilities and second, that exploration learning contributes to Session 1142 the search and selection function of dynamic capabilities leading to Capabilities, Scope and Organizational strategic flexibility. The two companies that successfully engaged Change in organizational learning developed dynamic capabilities, that enabled them to lead the modernization of the industry in a Track E Date Tuesday, Oct 16 volatile market environment. Time 14:00 - 15:15 h Paper Session Room Nautilus 3 Strategic Change And Dynamic Capabilities Of The Session Chair Margaret Cording, Rice University Firm Anuja Gupta, University of Pennsylvania The Power Of Feedback: Intermediate Goals Sidney Winter, University of Pennsylvania As Mediators Of Integration Decisions And Some firms seem to possess the capability of performing well over Acquisition Performance extended periods of time in the context of change. These firms are Margaret Cording, Rice University able to make sweeping changes in their strategies in situations David King, U.S. Air Force of environmental turbulence, shifting from one strategic context Petra Christmann, Rutgers University to the other (as if contextual knowledge of the firm does not Integration is a process vital to enhancing performance in acquisitions. matter). A good example is IBM that transformed from a hardware Research typically tests the effects of integration variables directly company into an integrated services company; or Monsanto that on performance. However, the chain of relationships linking these transformed from an agricultural chemicals company to a biotech constructs may be more complex. Drawing on the organizational company. The question is: what are these dynamic capabilities and learning literature, we develop a structural model that introduces how do managers develop them? We identify a tension between intermediate goal achievement as a mediating construct. Our results, alternative views on dynamic capabilities in the literature, and ay d s e u t based on a sample of 129 horizontal acquisitions, indicate that two present a test of these views. intermediate goals internal reorganization and market expansion fully mediate the relationships between integration variables and Session 1112 acquisition performance, providing valuable clarification of the Portfolio Issues theoretical framework linking integration decisions and acquisition performance. Track F Date Tuesday, Oct 16 14:00 - 15:15 Time 14:00 - 15:15 h Creating A Dynamic Capability Portfolio: Paper Session Room Marina 4 Accommodating Variations In External Conditions And Strategic Intent Session Chair: Alexander Alscher, University of St. Gallen Cynthia Lengnick-Hall, U of Texas-San Antonio The Legitimacy Of Strategic Business Exit Tammy E Beck, University of Houston-Clear Lake Carolin Decker, Free University-Berlin This paper identifies four types of dynamic capability that vary in Heike Rindfleisch, Free University-Berlin terms whether they rely on persistent or fluid routines, whether Business exit, or the divestiture of one of a firm’s businesses, is they achieve competence-enhancing or competence-destroying frequently used as a tool for sustainable restructuring which aims outcomes, and whether they rely on complexity reduction or at changing a corporation’s strategic direction. One of the factors complexity absorption to deal with uncertainty. Examples of firms that determine the strategic goals associated with business exit is demonstrating each type are provided. We argue, first, that success the institutional setting in which a firm is embedded and which requires matching external conditions and an effective choice requires legitimate actions. To date, the literature on strategic of strategic intent. Second, over time firms with a diversified business exit hardly pays attention to the legitimating function portfolio of dynamic capability routines will outperform firms with of exit. Thus we adopt an institutional view and ask: When does more limited repertoires. Third, complementary abilities, such as business exit enhance legitimacy? Using data on. 13 business resilience capacity, and knowledge management contribute to a exits between 1999 and 2004 from 91 firms listed at the German firm’s ability to both develop a robust dynamic capability portfolio stock exchange we develop a framework and demonstrate how and select the most appropriate dynamic routines for a particular strategic business exit is associated with economic, technological, point in time. managerial, and investment legitimacy.
San Diego | October 14-17 2007 7 5 tuesday sessions | 14:00 - 15:15
Corporate Portfolio Heterogeneity And stakeholders in evaluating overall corporate governance of a firm Performance: The Impact Of Parenting Styles and explaining its relation to firm performance. Markus Menz, University of St Gallen Making A Good Impression: Composition Of This paper explores the impact of parenting styles on the Central Governance Committees And Analyst diversification-performance link. We review prior research Recommendations on corporate parenting and diversification including various Jean McGuire, Louisiana State University approaches to measure relatedness. Developing a conceptual Elie Matta, HEC-Paris model of corporate strategy we argue that the alignment of parenting styles to the diversification degree of the business We focus on the importance of three key board committees (audit, portfolio will result in performance improvements. Further, we compensation, and nominating) in signaling good governance to suggest an alternative approach to measure diversification that a key constituency, that of financial analysts. Relying on signaling particularly considers portfolio heterogeneity. We hypothesize theory, we assess whether the composition of these committees that a heterogeneous portfolio demands the application of serves as a signal of the strength of financial oversight, corporate different parenting styles simultaneously and propose a two-stage governance, and the firm’s ability to select strong management. research design including qualitative and quantitative methods. We propose that independence of members of these committees, their prestige and their ownership in the firm are positively Sequences, Interactions, And Path Dependence Of associated with analysts’ favorability, uniformity and accuracy Investments, Divestments, Cooperations, And The of recommendations. Hypotheses are tested on the S&P 500 Compound Activity Of Portfolio Configuration firms in. 001 with considerations of lagged effects on analysts’ Alexander Alscher, University of St. Gallen recommendations. Matthias Brauer, University of St Gallen Corporate Governance And Strategic Renewal: Although investments, divestments, and cooperations have A Longitudinal Analysis Of Royal Dutch Shell plc been found to be path dependent on their prior experience and (1959-2004) performance, no study has yet investigated interactions between Zenlin Kwee, RSM Erasmus University these activities and path dependent effects in the compound Frans A.J. Van Den Bosch, RSM Erasmus University activity, i.e. the portfolio configuration. Applying econometric Henk W. Volberda, RSM Erasmus University time series analysis to the portfolio configuration activities of four German multibusiness firms, different orders and forms of How are managers influenced by corporate governance when path dependence in portfolio configuration activities are found adjusting their strategies? What are the roles of a firm’s management subject to the organizations’ degree of de-/centralization. The board in managing strategic renewal? This paper aims at cultivating separate activities of investment, divestment, and cooperation a deeper understanding of how managers do strategy over time exhibit different orders and forms of path dependence than the under the context of corporate governance models. To that end, compound portfolio configuration. The study provides a more we conduct a longitudinal analysis of the influence of Royal Dutch y ay d s e u t coherent theory of path dependence based on the distinction of Shell’s management board (1959-2004), which embodies the three orders of path dependence and a more unifying theory of Rhine and the Anglo-Saxon corporate governance models, on the portfolio configuration including the sequence and interaction of company’s strategic renewal. Our study found that over the long- investments, divestments, and cooperations. run, the company has gradually shifted from the Rhine model to the Anglo-Saxon model. This has the managerial implication in that the firm’s managers do less explorative strategic actions but more Session 1153 external-oriented growth of strategic renewal actions. 14:00 - 15:15 Governance Mechanisms Track F Date Tuesday, Oct 16 Corporate Governance, Political Influence, And Time 14:00 - 15:15 h Corporate Frauds In Transition Economies Paper Session Room Marina 3 Daphne Yiu, Chinese University of Hong Kong William Wan, Texas Tech University Session Chair: Jean McGuire, Louisiana State University Corporate frauds have captured a lot of public attention in Improving Firm Performance With Corporate recent years. However, strategy research has not paid sufficient Governance: Comparing The Effectiveness Of attention to this topic, and most studies focus only on developed Internal And External Governance Mechanisms economies. Our study seeks to extend research on corporate fraud to the context of transition economies where such problems are Manisha Singal, Virginia Tech particularly pronounced. We examine a set of internal and external This proposal seeks to compare internal control mechanisms governance factors that are conducive to corporate frauds in like board structure and executive compensation, with external transitional economies. Because the institutional transition process mechanisms of governance like takeover threats and monitoring by outside blockholders. Our objective is to evaluate the relative is gradual and rudimentary in transition economies, we further effectiveness of such mechanisms in improving firm performance examine how government’s political influence would moderate by reducing agency costs and aligning manager and shareholder the relationships. We test the hypotheses using a panel data of 272 interests. Based on data from publicly traded firms, we construct matched-pairs of fraud and non-fraud Chinese listed firms (a total a broad-based governance score and consider the substitute, of 544 firms) over a seven-year period from 1999 to 2005. interaction, and complementary effects of a set of governance indicators. While past research has looked at such mechanisms mainly in isolation, by studying them as a set, and in tandem, we hope to provide guidance to managers, shareholders, and
7 6 SMS 27th Annual International Conference 14:00 - 15:15 | tuesday sessions
Session 1157 Session 1270 Behavioral Theory & Its Implications for Pushing the Envelope: Looking at the Strategic Action Impacts of Non-Market InfluenceS Track F Date Tuesday, Oct 16 Track G Date Tuesday, Oct 16 Time 14:00 - 15:15 h Time 14:00 - 15:15 h Paper Session Room Nautilus 1 Common Ground Session room Executive Center 2b Session Chair TBD Facilitator Louis Hébert, HEC-Montréal Corporate Malfeasance: Assessing The Factors That Facing Organized Criminal Groups Result In Earnings Manipulation Philippe Very, Groupe EDHEC Margarethe Wiersema, University of California-Irvine Bertrand Monnet, EDHEC Business School James Robins, Singapore Management University The purpose of this research is to understand how companies are Sanjian Zhang, Lehigh University increasingly becoming the targets of organized crime groups. Failures of corporate governance typically have been seen as a result Using a methodology primarily based on case studies, we propose of self-interested behavior by managers. This study is an attempt to a theoretical model of criminal activity directed at business. The expand the scope of governance research by moving away from model is divided into three parts: 1) Typology of criminal activities; the assumption that malfeasance originates in the opportunism of 2) Vulnerability of business organizations to each type of criminal managers. We propose and test an alternative, institutional view activity; and 3) Impact of criminal activities on the business that malfeasance can be a result of managers trying to conceal organization. This study demonstrates the multiple types of crime weaknesses in firm performance. We find a number of factors that which each have its own specific impacts. It also suggests that lead managers to perceive a firm to be in trouble, and we identify companies are NOT equally vulnerable to these threats. conditions when managers are more likely to conceal problems by Are Firm Personality And Political-Market Strategy manipulating reported earnings. Interlinked? An Exploratory Review With Synthesis A Behavioral Agency Perspective Of Risk Taking: Howard Viney, Open University The Role Of Dynamic Aspiration Levels Paul Baines, Cranfield University Michele E Yoder, University of Wisconsin-Madison The paper discusses Public-Market Strategy (PMS) and the various Cynthia E Devers, University of Wisconsin-Madison types of interactions organisations have with government and Mason A Carpenter, University of Wisconsin-Madison regulatory actors in developing and implementing firm level strategy, before introducing a five-stage model of PMS aimed at This proposal synthesizes agency and prospect theories to extend overcoming existing conceptual and semantic difficulties in the behavioral agency models by developing a behavioral agency literature. The model seeks to explore the nature of relationships
perspective of the effects of dynamic aspiration levels on risk taking. ay d s e u t between three sets of variables underpinning organisational PMS: We predict that executives apply aspiration levels to stock options, the intended outcomes of PMS, the resources dedicated to PMS using them as reference points that impact risk taking by defining the activity, and the context in which PMS occurs. In order to test the gain or loss context. Issuing new stock options causes the executive’s validity of the model, the paper develops a series of hypotheses aspiration levels to change, likely inducing a loss context. Thus, the exploring the interrelationship of the variables, as well as a set of positive relationship between the value of stock options and risk hypotheses which explore the relationship of organisational PMS taking is strengthened by the number of times the aspiration level to ‘firm personality’, using the Miles and Snow (1978) typology. 14:00 - 15:15 has changed. We will test our theory in the context of CEO stock options and investment in strategic risk with a sample of large, A Rising Tide? How Non-Market Forces Can Re- publicly owned firms over several years. Float Stranded Industries Differential Aspiration Models And Firm Behavior: Marco Huesch, University of California-Los Angeles Evidence From Financial Misrepresentation Mariko Sakakibara, University of California-Los Angeles Jared Harris, University of Virginia We develop a new conceptual approach for analyzing the Philip Bromiley, University of California-Irvine influence of off-line non-market participants on corporate players in competitive markets. We focus on the informational aspects of Drawing on the behavioral tradition in strategic management, such influence, and demonstrate that under certain conditions, researchers have measured firm aspirations in a variety of different such off-line non-market forces may have positive implications for ways. Although research on aspirations is a prominent and well- market efficiency. Our theoretical model draws on the economics explored research area of the behavioral theory of the firm, of self-confirming equilibria: inefficient industrial steady states differing formulations of aspirations measures have proliferated that arise when apparently rational players play an equilibrium with little evidence to suggest which view of aspirations is most strategy that appears rational given past play, but is based on appropriate. In this exploratory study, we comparatively test the erroneous beliefs about other market participants’ strategies. We influence of several different aspiration measures, contributing show that non-market participants may be able to improve the to our empirical, theoretical, and practical understanding of beliefs of market players, and thus allow more accurate updating aspirations and search. and active learning. Non-market influences are thus seen as a rising tide serving to ‘re-float’ stranded industries.
San Diego | October 14-17 2007 7 7 tuesday sessions | 14:00 - 15:15
Institutional Targeting In Patent Enforcement: subsidiaries in their partners’ countries of origin can overcome Revisiting Firm-Environment Fit In The Non-Market some of the liabilities of API. Context Organizational Search Behavior As A Driver Of Deepak Somaya, University of Maryland International Alliances Christine McDaniel, US Department of Commerce Hakan Ener, INSEAD Scholarship on firm-environment fit has traditionally held that Ha Thi Hoang, INSEAD firms must adapt their strategies and capabilities to fit with their environments. In this paper we examine the targeting of specific In a stratified longitudinal sample of more than 1300 drug non-market institutional venues by firms, and ask if these strategies development projects pursued by fifty-two biopharmaceutical firms may be driven by attempts to ‘choose environments’ that fit with and their alliance partners, we identify a new driver of international the firms’ characteristics instead. We propose a theory wherein firms alliance formation. We show that problemistic search, resulting choose between specialized and generic institutions based on the from low firm performance relative to aspirations, drives the fit with their prior market strategy decisions, the characteristics of timing and extent of international alliance activity. Moreover, the their competitors, and their own capabilities. Using data on patent performance of international alliances is found to be influenced by enforcement against foreign importers, we find robust support the search process preceding their formation. When such alliances for the hypothesized determinants of institutional targeting. Our are undertaken under conditions of problemistic search, we find research also provides a direct empirical test for the proposition that they have better outcomes than when they are initiated under that firms may derive benefits from the integration of their market success-driven slack search. We conclude that organizational search and non-market strategies. In addition, our findings shed light behavior significantly influences a firm’s internationalization on the linkages between patent strategies and the non-market process and its subsequent performance in cross-border alliances. institutions that define these property rights. Cross-Border M&As And Domestic/International Corporate Blogging Is A Conversational Strategy: Resource Dependence Structures Is It A Non-Market Strategy? Akie Iriyama, University of Pittsburgh Andrew Watson, Northeastern University Jason Park, University of Pittsburgh Ravi Madhavan, University of Pittsburgh Blogs have increased in number and prominence in recent years. The proposed paper examines the nature of corporate Cross-border M&A’s are an increasingly important phenomenon; blogging: an online conversation between the organization and the aim of this study is to understand the drivers of their formation. its stakeholders, including customers. It is structured around the Using resource dependence theory and Casciaro and Piskorski’s question: is corporate blogging a non-market strategy? It presents (2005) concepts of power imbalance and mutual dependence, we arguments that corporate blogging is a non-market strategy, argue that flows of resources between industries and between followed by arguments that it is not. These arguments are followed countries foster collaborative strategies such as cross-border M&A’s. by conclusions and implications for management research and Our preliminary hypothesis tests show that cross-border power y ay d s e u t practice. imbalance discourages cross-border M&A formation, while cross- border mutual dependence encourages it. Ongoing analysis aims to test additional hypotheses on how domestic power imbalance and Session 1276 mutual dependence affect cross-border M&A formation, as well as Alliances And Acquisitions the interaction of power imbalance and mutual dependence. Track G Date Tuesday, Oct 16 Governance Costs In Foreign Direct Investments: 14:00 - 15:15 Time 14:00 - 15:15 h Common Ground Session room Executive Center 2a Acquisitions Versus Greenfields Sverre Tomassen, BI Norwegian School of Management Facilitator Africa Ariño, IESE Business School Gabriel R G Benito, BI Norwegian School of Management Using foreign direct investments as a governance mechanism has The Performance Implications Of Alliance Portfolio a cost side that goes beyond mere production and input costs. Internationalization: Learning Within And Across The governance costs of foreign operations are often vague and Organizational Boundaries underestimated, and sometimes even ignored by companies Dovev Lavie, Technion-Israel Institute of Tech/University of entering a foreign market. This study examines role that entries Texas-Austin through start-up versus take-over have in generating such Stewart Miller, University of Texas costs. Using data from a survey of 160 Norwegian multinational We introduce the notion of Alliance Portfolio Internationalization companies the study shows that type of governance costs depends (API) that captures the national differences between the firm on whether the subsidiary was established as a start-up or through and its immediate alliance partners. Drawing from the learning a take-over. Overall, this study indicates that governance costs play literature, we suggest a sigmoid relationship between API and a significant role when headquarters are evaluates its subsidiary. firm performance. When a firm approaches proximate foreign Hence, be aware of these costs is of utmost importance for the partners it may fail to recognize latent national differences, but management of multinational companies. as it reaches moderately distant partners, its absorptive capacity enables exchange of valuable external knowledge. Nevertheless, Dynamic Capabilities And Network Strategic Fit In over-internationalization undermines performance due to Airline Alliances misapplication of collaborative routines and mounting liabilities of Zhi Wang, Manchester Metropolitan University API, so that performance first declines, then improves, and finally Stuart Horsburgh, Manchester Metropolitan University declines again with increases in API. Still, firms that have gained Whilst empirical research on the resource-based view of the firm is experience with foreign partners and maintain wholly-owned well-established, the capability-based view of strategy (CBV) lacks an
7 8 SMS 27th Annual International Conference 14:00 - 15:15 | tuesday sessions
empirical base. In response, we outline an approach to making CBV into the fashion industry, and granular data of two leading operational by identifying two levels of capabilities, operational international firms, we provide a search model that puts style at and dynamic capabilities. Rather than measure capabilities directly, the core of innovation and, more specifically, of the search process. using a three-stage modeling procedure and employing a large Analogous to the current understanding of search in technical data set drawn from the airline industry, we are able to make settings, we first highlight that style emerges through a process of inferences about the airlines’ capabilities by measuring both the variation, selection, and retention. We then show that the process degree of strategic and dynamic fit for alliance networks. The two of variation is not bounded by the complexity of products and combined provide what we term, network strategic fit. The results the stickiness of knowledge, but is instead characterized by the indicate that dynamic capabilities have flexibility value and this has tendency to look far beyond existing competences. We conclude had a positive impact on airline performance. our work by addressing managerial implications and directions for future research on the topic. Session 1102 The Moderating Effect Of Innovation Types For Learning, Innovation, Interfirm The Firm Resources And Financial Performance Collaboration Relationship Track I Date Tuesday, Oct 16 Turanay Caner, North Carolina State University Time 14:00 - 15:15 h Susan Cohen, University of Pittsburgh Common Ground Session room Marina 1 In this study we examine when- that is under what innovation Facilitator Paul Olk, University of Denver types- firms’ intra and inter-organizational resources enhance their financial performance. We focus on R&D and marketing Leveraging Innovation To Strengthen Strategic capabilities as firms’ intra-organizational resources, and centrality Performance and structural holes as resources firms acquire through their Nicholas O’Regan, Bristol Business School inter-organizational alliance network structure. We theorize and Abby Ghobadian, Henley Management College empirically demonstrate that both kinds of capabilities affect firms’ financial performance to the extent that they contribute to the Innovation is a key contributor to both long-term survival and the success of different types of innovations - explorative innovation development of superior competitiveness. The resource-based view and exploitative innovation. In the context of biopharmaceutical contends that leadership is a key contributory resource. This study industry our results indicate that firms need to allocate their examines the relationship between innovation, leadership and resources based on the innovation types they are engaged in. performance. The results suggest that the level of innovation, the results of innovation, and development of the competencies needed How Does Innovation Impact Profitability And for effective innovation are influenced by the firm’s leadership Productivity? A Joint-Test Of RBV And KBV style. Transformational/human resources leadership style is more Determinants conducive to innovation and new product development whereas
Sonya Wen, National Taiwan University ay d s e u t transactional leadership style is conducive to the modification of Jennifer Chen, National Taiwan University existing products. The findings provide practical guidelines to for managers to consider in order to achieve sustainable competitive What kinds of firm heterogeneity determine the performance performance. of technology-intensive firms? Integrating the resource-based and knowledge-based views, we approached such inquiry by Exploring The Performance Impact Of Knowledge hypothesizing the contrasting performance effects of strategic
Diversity Within Alliance Networks orientations between resource quantity and quality of innovation 14:00 - 15:15 Jamie Collins, Baylor University input, between stock and flow, as well as between scale and scope Patricia Norman, Baylor University of innovation output on the profitability and productivity of Kendall Artz, Baylor University technology-intensive firms. Our results show that resource quality, instead of resource quantity, matters for both profitability and Within the knowledge-based view of the firm, the need for firms to productivity. Innovation flow matters more than stock, as well as access knowledge from external sources is widely recognized. Firms scale matters more in profitability; while the scope of innovation often search for exchange partners with resources or knowledge stock matters in productivity. Therefore, our findings suggest the in areas of particular weakness or need for the firm. Firms also managers to match their strategic orientation in term of innovation use alliance relationships to create knowledge and to access new input and output with their firm-specific performance target. knowledge that can be leveraged to enhance a firm’s existing capabilities or help it to develop new capabilities. An important Knowledge Sharing As Mediator Between Alliance advantage of networks is that firms are able to gain access to Capability And Alliance Performance highly diverse knowledge that firms cannot afford or do not have Dong-Hyun Lee, The Catholic University of Korea the capabilities to develop internally. In this study we examine the ByoungJo Kim, Seoul School of Integrated Sciences and effect of knowledge diversity on overall firm performance and the Technologies moderating influence of a firm’s social capital resources. In spite of the important need to understand how an alliance Search Style In Style Searching: Learning capability develops within a firm, and how it impacts the alliance Exploration Strategies From Fashion Firms success, few research investigates empirically the relationship Paola Cillo, Bocconi University between alliance capability and alliance performance. Previous Gianmario Verona, Bocconi University researches also do not clarify the concept of alliance capability. The basic idea of this paper is that mechanisms and routines of alliance Style is increasingly influencing innovation strategies of firms management can be divided into separate, but closely related competing in different settings. With an in-depth investigation construct such as knowledge sharing and alliance capability. We
San Diego | October 14-17 2007 7 9 tuesday sessions | 14:00 - 15:15
argue that knowledge sharing is a mediator between alliance of knowledge transfer, the interaction context, and the knowledge capability and alliance performance. Therefore alliance capability context into account. From a theoretical viewpoint, the results without knowledge sharing can only have a partial and/or minor presented in this paper are important because they demonstrate impact on alliance performance. that sponsored research, collaborative research and contract research involve distinct ways of organizing science-industry Session 1103 knowledge transfer. From a managerial perspective, the paper Management of Knowledge and contributes to an improved understanding on how to use these Innovation, interorganizational forms of interaction in practice and under what conditions one form is to prefer over the other. Track I Date Tuesday, Oct 16 Time 14:00 - 15:15 h Management Innovation And Dynamic Common Ground Session room Executive Center 3b Institutionalization: Evidence From The United States Industries (1855-2005) Facilitator: Jamal Shamsie, Michigan State University Patrick Reinmoeller, Erasmus University-Rotterdam Does Stakeholder Engagement Promote Management innovations deliver advantages to the innovators Innovation Orientation? and can disrupt established hierarchies in industries (Hamel 2006). Silvia Ayuso, IESE Business School Firms have developed many principles and systems and adopted Miguel Angel Rodriguez, IESE Business School management innovations introduced by other firms but most Roberto Garcia-Castro, IESE Business School were dropped quickly (Abrahamson 1996). Institutional forces and organizational ambition lead firms to develop breakthroughs in Despite the increasing research about the importance of cooperation management, adopt and abandon them. This paper explains the for innovation, existing business literature lacks an understanding dynamics of (de)institutionalization of management innovation of how stakeholder-regarding behavior influences innovation. in the 25 major US industries and explain superior organizational The present study focuses on the contribution of stakeholder performance with differences in how firms create, develop and engagement to firms’ innovation orientation within the context renew their strategic innovations. of sustainable development. It investigates whether engagement with customers, employees, external stakeholders and knowledge The Effects Of Interpersonal Relationships On management lead to higher innovativeness in the firms drawing Knowledge Transmission Within Organizations upon data from an international sample of large companies. Roland Szabo, Corvinus University of Budapest Empirical results showed that knowledge sourced from engagement Lilla Hortovanyi, Corvinus University of Budapest with customers, employees and external stakeholders contributes to a firm’s innovation orientation, but that this knowledge has to This paper focuses on the role of interpersonal relationships in the be managed by the firm internally. knowledge flow within organizations addressing the questions of how does organizational learning take place and how is knowledge
y ay d s e u t Co-Opetition For Technological Innovation: shared and transmitted? We identified four types of learning: An In-Depth Exploratory Study Collaborative, Cooperative, Constrained and Competitive. Since Devi Gnyawali, Virginia Tech human relationships tend to be instable over time we also propose a Byung Jin Park, Virginia Tech learning cycle model that draws attention on the influence of social structures. By highlighting the underlying drivers of knowledge We examine drivers, dynamics, and consequences of co-opetition sharing our qualitative study has two important contributions. for technological innovation. We propose multi-level drivers of First, improves our understanding of how structural embeddedness 14:00 - 15:15 co-opetition: industry, dyadic, and firm-level. Industry level drivers imposes limits upon interactions that are essential for organizational include technological convergence, increasing R&D costs, and short learning, and innovation. Second, by elaborating how interpersonal product life cycles; dyadic factors include partner technological relations influence knowledge sharing process practitioners can capability, resource complementarity, and overlapping knowledge better manage knowledge, learning, and innovation. bases; and firm-level factors contributing to co-opetition include prospecting strategy, top management co-opetition mindset, and Strategic Antecedents Of Firm-Level Perfomance inducement and opportunity for co-opetition. Since little conceptual Differences In Patent Exploitation: What Patent and empirical research exists on this emerging phenomenon, Sharks Reveal About Appropriability Theory we conduct an in-depth case study of competitive-collaborative Joachim Henkel, Munich Technical University dynamics between Samsung and Sony, the two major players in the Markus Reitzig, London Business School LCD segment of the TV industry. Results from the case study will Ferdinand Schneider, Munich University of Technology help refine the conceptual framework, create measures for future empirical research, and suggest implications for managers. Patent ‘sharks’ are firms that own patents essential to the production of goods sold by R&D-intensive manufacturers. The Towards A Model Of Context And Interaction In sharks’ unique value proposition is to allow R&D manufacturing Science-Industry Knowledge Transfer firms continuing to use the sharks’ technology against (excessive) Martin Inganäs, ETH Zurich fees at a point when the manufacturers infringe upon the troll’s Fritz Fahrni, ETH Zurich technology. The existence of sharks challenges the established Christian Marxt, ETH Zurich theory of appropriability whereby the successful use of patents is largely predetermined by industry (e.g. cross-licensing, with or This paper contributes to improving our understanding of the without net payments, in industries such as software or computer way science and industry interact. It provides a categorization of hardware). Studying performance differences of all 45 different three common forms of interaction, namely sponsored research, shark firms ever reported in the public media, we provide empirical contract research and collaborative research, by taking the process evidence for the existence and performance relevance of firm-
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level value appropriation strategies. Our study moreover identifies of system-performance target. Tighter component-level tolerances monitoring criteria relevant to R&D-intensive manufacturers. improve the chances that the components can be integrated into a successful system, but are more difficult and expensive to hit. Session 1098 Tougher system-level targets increase profitability if met, but drive Product Devel, Customer Knowledge, higher (and riskier) costs. Companies must balance these costs Organizational Forms and benefits in deciding whether to attempt big leaps in system performance or to follow a ‘rapid inching’ policy of incremental Track I Date Tuesday, Oct 16 product improvement. Time 14:00 - 15:15 h Paper Session Room Nautilus 2 Organizing For New Product Development Laura Cardinal, Tulane University Session Chair TBD Michael Fern, University of Victoria Reproducing Knowledge: Inaccurate Replication Scott Turner, University of Maryland And Failure In Franchise Organizations Richard Burton, Duke University Sidney Winter, University of Pennsylvania Drawing on research that distinguishes among three industrial Gabriel Szulanski, INSEAD contexts for product development, we develop three congruent Dimo Ringov, INSEAD project designs using information processing theory. First, our Robert Jensen, Brigham Young University research suggests that different project environments involve different performance priorities, different project designs yield The recognition that better use of existing knowledge can enhance different performance outcome. Second, we observe the benefits performance has spawned substantial interest in the replication of of midrange product development processes, which incorporate productive knowledge within organizations. In particular, it has moderate communication richness and moderate concurrency, in been argued that, when guided by a template, the exploitation of complex and uncertain environments. Our research has significant a business model by replication is more successful if the template implications for theory development in the area of new product is copied precisely. Using unique longitudinal data, we report the development as well as for practitioners involved with project first large sample empirical investigation of this proposition by design choice for new product development efforts. examining the effect that deviation from prescribed practice has on the survival chances of franchise units within a large franchise organization. Our analyses provide strong support for the merit of Session 1105 precise replication. Innovation, growth, spin-offs, and intellectual capital Strategically Managing Integrated Customer Knowledge: Leveraging Global Account Track I Date Tuesday, Oct 16 Management’s Hidden Value Time 14:00 - 15:15 h
Paper Session Room Executive Center 3a ay d s e u t Florian Kohlbacher, German Institute for Japanese Studies, Tokyo Session Chair Linda Tegarden, Virginia Tech Peter Sicher, Vienna University of Economics & Business Administration Organizational Innovativeness And Firm Growth: In most multinational corporations today, global account An Empirical Study Of The Innovation-Promoting management is high on the strategic agenda, and it has now Basic Conditions found widespread acceptance in industrial and high-technology Ulrich Bauer, Graz University of Technology 14:00 - 15:15 companies, and is even beginning to take hold in the consumer Stefan Gueldenberg, Vienna University of Economics & goods industry. As a result, global account management has Business Administration attracted significant research attention in recent years. This paper Hannes Pichler, Graz University of Technology takes a knowledge-based view of global account management This paper explores the relationship between innovation-promoting and deals with the question of the strategic management of basic conditions, organizational innovativeness and the growth integrated local and global customer knowledge in multinational performance of companies. Five potential basic conditions to increase corporations. It builds on the knowledge-based view of the firm innovativeness of companies could be derived from the analysis and a conceptual framework of knowledge-based marketing. We of innovation-relevant studies and the in-depth study, which was review the relevant global account management literature, identify conducted. Empirical data was gathered in a questionnaire-based major shortcomings and finally propose a conceptual framework of survey in Austria from 112 Top-500-companies. The questionnaire knowledge-based global account management. contained. 88 items covering the topics of innovation sources, process and networking, as well as climate, motivation, controlling Strategic Stretch And Modularity Management In and strategy. The results of the analysis show that companies Product Development fulfilling these basic conditions: 1) produce a higher percentage of David Croson, Southern Methodist University radical innovations; 2) record significantly higher turnover growth; Steven Postrel, Southern Methodist University and 3) large companies tend to fulfill these basic conditions in a Product development often requires the integration of work better way than small companies. products from specialized component designers whose knowledge is hard to transmit. We study the tradeoffs facing a system designer/project manager who must decide a) how far to ‘stretch’ in setting a target for system performance and b) what component- performance targets to assign to each designer given the choice
San Diego | October 14-17 2007 8 1 tuesday sessions | 14:00 - 15:15
Research Publications And Tacit Knowledge: An Session 1110 Industry Life Cycle Perspective On Why Firms Consulting Practices Publish Track J Date Tuesday, Oct 16 Linda Tegarden, Virginia Tech Time 14:00 - 15:15 h Will Lamb, Ohio University Paper Session Room Marina 2 Donald E Hatfield, Virginia Tech We propose that within the technology life cycle framework, firm Session Chair Ansgar Richter, European Business School incentives to publish will vary depending on their ability to reap the benefits – and avoid the costs – of publishing articles which may Positioning Of Management Consulting Firms: reduce their knowledge advantages. Firms that publish research Segmenting The German Market For Consulting findings are more likely to gain greater access to research networks Services and tacit knowledge. We expect the benefits and costs to vary Kerim Galal, European Business School across the industry life cycle. Using the context of the emerging Ansgar Richter, European Business School fiber optics industry (1976-1994), we test the impact of firm The consulting market is characterized by growing competition and characteristics on the extent and timing of research publications. rising client expectations. Therefore, consulting firms should benefit Our results indicate that dominant firms (those with large size, wide from positioning themselves carefully vis-à-vis their competitors. technology scope, and significant market power) are best able to We address the question of whether management consulting firms push the development of technologies in an emerging market, and can be distinguished and grouped on the basis of their services. most likely to publish articles in the embryonic stage of an industry. We apply cluster analysis to a sample of 70 consulting companies We discuss how these results inform research in the knowledge and operating in the German market. The results indicate that relatively innovation areas. many firms position themselves as providers of tailored strategy and organization consulting services. There are, however, consulting The IBM Innovation Jam: A Methodology For firms that seek to differentiate themselves from this model, for Mobilizing Intellectual Capital? example by providing more standardized consulting solutions. Robert Wood, San Jose State University David Hover, San Jose State University Applicability Of Business Models In Strategy Recent research emphasizes the difficulty of managing knowledge. Execution: Lessons From The ATLAS Experiment At This poses profound challenges for firms with valuable knowledge CERN that is not yet practically useful, such as research laboratory Timo Santalainen, Helsinki School of Economics/STRATNET discoveries. We report on an on-going real-time study of a Markus Nordberg, CERN corporate attack on this challenge. In early 2006 Sam Palmisano, Ram Baliga, Wake Forest University IBM chief executive, visited IBM Research. Excited by what he saw, CERN (European Organization for Nuclear Research) is the world’s he proposed the company use its Jam technology for a massively largest particle-physics research centre. The objective of this y ay d s e u t parallel conversation among employees and selected outsiders laboratory is to understand how matter was created and what on turning the technologies into products. Data from participant it is ultimately made of. As part of its latest project, the Large observation, interviews, and transcripts indicates the Jam has Hadron Collider (LHC), ATLAS is amongst the largest collaborative created knowledge structures and networks that may contribute to efforts ever attempted in the physical sciences. Over 1800 physicists effective mobilization of IBM’s knowledge. However, fundamental (including some 300 students) from more than 150 universities and problems of mobilizing knowledge for strategic innovation are far laboratories in 30 countries are involved in this physics experiment.
14:00 - 15:15 from being totally solved. ATLAS management hired a consultant to identify and address issues that could affect ATLAS success. Through discussions with Learning And The Paradox Of Innovation representatives of ATLAS management, the consultant determined Changsu Kim, Ewha Womans University a number of issues that needed to be addressed. The sessions This paper examines the relationship between learning and were built around Hamel’s Business Model (Hamel, 2000) and the innovation, focusing on the trade-off between exploitation and ‘Strategy Diamond’ (Hambrick & Fredrikson, 2001) frameworks. This exploration in learning and innovation. We identify three types paper will focus on the challenges of strategy execution (Bossidy of learning and two elements of innovation. We propose that & Charan,. 002) in a world-class research institution involved in exploitation and exploration in learning are inversely associated probably its most critical experiments to date. We conclude with a with innovation rates and impacts. While exploitative, localized discussion of how the lessons learnt at ATLAS could be valuable to learning is positively associated with the rates but negatively corporations (e.g. pharmaceutical companies) and universities that associated with the impacts of innovation, explorative learning- are struggling to enhance their research productivity. by-experimentation shows the opposite relationship. We call this trade-off a ‘paradox of innovation’. We also suggest that R&D The Evaluation of Strategy: Developing Guidelines alliances contribute to both innovation rates and impacts. The to Improve Managerial Practices panel data in the global chemical/pharmaceutical industry support Don Antunes, IMD our ‘paradox of innovation’ view. Abhijit Mandal, University of Warwick Bettina Büchel, IMD This paper advances discussion on strategy evaluation, a topic of crucial relevance for the practice of the top management team and strategy consultants. Building on the classical work from Rumelt (1980) it compares the practice of strategy evaluation in four leading companies that have recently undergone strategy evaluation reviews. The paper highlights the relevance of the topic,
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discusses the obstacles to good practice of strategy evaluation and resource-based social capital. In particular, resource network argues that to improve the quality of strategy evaluation four intensity can have a positive influence on firm growth, whereas fundamental guidelines should be taken into account: integration, the central resource network person friendship can be negatively accessibility, modularity, and transparency. related to firm growth. Putting Intellectual Capital To Work Utilizing The On The Relationship Between Venture Capital Intellectual Potential Framework Financing And The Growth Of New Technology- Carl-Henric Nilsson, Lund University Based Firms: The Type Of Investor Matters Christina Lindskog, KunskapsPartner AB Luca Grilli, Polytechnic of Milan The critical point of strategy is making it happen. Much research is Massimo Colombo, Polytechnic of Milan done on Strategy, however there is still ample room for improvement Fabio Bertoni, Polytechnic of Milan when it comes to research concerning the art of strategizing The financial literature claims that Venture Capital (VC) financing (Starbuck, 1992), or in other words making strategies happen. This spurs the growth of New Technology-Based Firms (NTBFs). First, paper is about putting the Intellectual Capital, sojourned in the VC investors allegedly have superior scouting capabilities, so employees of a company, to work by using the Intellectual Potential they provide great hidden value firms with the financing they Framework. The Intellectual Potential framework rests on four would otherwise be unable to obtain. Second they also provide cornerstones: Change Management, Strategy, Process Orientation monitoring and coaching services to portfolio companies. Third, and Measurement Systems. VC financing has a ‘certification’ effect, making easier for portfolio firms obtaining support from third parties. Nevertheless, the extent Session 1161 to which these functions are performed, and so the benefits of VC Social Capital & Entrepreneurial financing, are likely to depend on the type of investor. In this paper Performance we distinguish financial intermediaries (FVC) and non-financial companies (i.e. corporate venture capital, CVC) as a source of Track K Date Tuesday, Oct 16 VC. The aim of the paper is to test whether i) VC financing has a Time 14:00 - 15:15 h positive effect on the subsequent growth of sales and employment Paper Session Room Nautilus 4 of portfolio companies, and ii) the magnitude of this effect differs according to the type of investor (i.e. FVC vs. CVC). Session Chair TBD The Dynamics Of Inter-Organizational Social Examining Diversity And Closure Theoretical Capital: Implications For Start-Ups’ Performance Antecedents For Nascent Entrepreneurial Projects Natalia Weisz, IAE - Universidad Austral Manuela Presutti, University of Bologna Roberto Vassolo, IAE Business School Luca Pirolo, Luiss Guido Carli University Arnold Cooper, Purdue University We attempt to provide a better understanding of how the
Luiz Mesquita, Arizona State University ay d s e u t performance of start-ups – measured by both economic and We theoretically and empirically explore the effect of social capital innovation task performance outcomes - may be influenced by on nascent entrepreneurial teams’ performance. We focus on different configurations of the inter-organizational social capital the trade-offs between internal social capital and demographic with their customers according to different stages of a start-up’s diversity. Though both aspects would be expected to positively life cycle. We confirm that there are different configurations of affect teams’ performance, they are, in principle, negatively social capital able to influence performance during the start-up life
correlated since factors associated with demographic diversity may 14:00 - 15:15 cycle, according both to our selected measures of task performance inhibit initial internal social capital, and vice versa. We survey all outcomes and to the selected stage of its life cycle. We suggest the members of 74 nascent entrepreneurial teams. We find that in importance to follow a contingent view when studying the value of nascent entrepreneurial teams, demographic diversity has a more inter-organizational social capital for start-up performance, since positive impact on performance than internal social capital. In the the necessity to adapt its social capital configurations to changing face of a critical trade-off between demographic diversity and task and resource requirements to reinforce the performance. internal social capital, nascent entrepreneurial teams that favor Linking Strategic Utilization Of The demographic diversity are better off. Entrepreneurial Resource-Based Social Capital To Small Firm Growth Bostjan Antoncic, University of Primorska Mitja Ruzzier, University of Primorska Tina Bratkovic, University of Primorska Social capital of entrepreneurs can be important for their firm growth. The creation of a network can be in a large extent strategy determined. This study makes a contribution by developing and testing a model of the entrepreneur’s social capital driven firm growth by considering the entrepreneur’s resource acquisition network ties. In the model a controversial combination of strong and weak tie arguments is proposed. Regression analysis was conducted using structured-questionnaire survey data from small firm entrepreneurs in Slovenia. Findings suggest that firm growth can be influenced by strategic utilization of the entrepreneur’s
San Diego | October 14-17 2007 8 3 tuesday sessions | 15:45 - 16:45
15:15 - 15:45 coffee break
Session 1805 Mike Lord is Director of the Flow Institute for International Studies, NOT A CHALLENGE, BUT AN OPPortunity: Sisel Fellow in Strategy, and Director Stakeholder Strategy as innovation and of the China Program at the Babcock innovation Graduate School of Management of Plenary Date Tuesday, Oct 16 Wake Forest University. Mike also Time 15:45 - 16:45 h serves as chairman of the research Panel Session Room Grande Ballroom committee and board member of the Foundation for Public Affairs of the Public Affairs Council, the U.S.-based association of senior corporate public affairs Session Chairs executives. Mike Lord received an BA in Government & Michael Lord, Wake Forest University International Relations from Harvard University; an MBA Mark Kramer, FSG Social Impact Advisors in International Management from Baylor University; and ‘Non-market’ influences – e.g., diverse global stakeholder his PhD in Strategic Management from the University of concerns, corporate social responsibility, public affairs, and North Carolina at Chapel Hill. government relations – long have been posed most often as risks, threats, or problems to which firms and their leaders must react Mark Kramer is founder and managing or adjust. This panel instead casts these ‘non-market’ influences director of FSG Social Impact Advisors, in a different light – i.e., as potential font of innovation and Senior Fellow in the CSR Initiative advantage. Panel members will discuss the consensually at Harvard’s Kennedy School of emerging model for stakeholder strategy not as a peripheral, Government, and co-founder of the tactical, or reactive afterthought, but rather instead as a rich and Center for Effective Philanthropy, a positive source of innovation and advantage central to the very nonprofit research organization in conception of business strategy. The demand for a more positive Cambridge, Massachusetts. Prior to and proactive strategic attitude toward these ‘non-market’ founding FSG, Mark served for twelve years as President influences only will grow. y ay d s e u t of Kramer Capital Management, a venture capital firm, and before that as an Associate at the law firm of Ropes & Gray in Boston. He received a B.A. summa cum laude from Brandeis University, an M.B.A. from The Wharton School, and a J.D. magna cum laude from the University of Pennsylvania Law School. PLENARY
8 4 SMS 27th Annual International Conference 17:00 - 18:15 | tuesday sessions
Special Session 1305 percentage holdings by ‘pressure-resistant’ institutional investors are negatively related to the pay-for-performance sensitivity of stock-based incentives. TEACHING TRACK Date Tuesday, Oct16 Time 17:00-18:15 h The Influence Of Firm Strategy On Attracting Planning Session Room Seabreeze Institutional Investors Session Facilitator Idie Kesner, Indiana University Fariss-Terry Mousa, Washington State University Richard Reed, Washington State University The Future of the SMS Teaching Initiative This paper provides a new perspective on the relationship between Do you want to play a leadership role in the future of SMS’s teaching R&D spending and institutional investors by examining the influence initiative? Are you interested in creating a new SMS Teaching that R&D has on attracting or discouraging investment by institutional Interest Group? Come to this planning session and participate in investors. We divide institutional investors into two main groups: the launch of this initiative. Attendees will be asked to participate pension-funds and professional-investment management funds in planning future teaching sessions and assuming leadership roles (mutual funds, banks, and investment banks). We also show that in order to move forward on this new idea. The session will include the differing behavior of these two groups is further influenced by a brainstorming activity to identify future events and the individuals institutional herding. who will lead them . The session will also include a discussion of ideas for building a virtual teaching community to share best practices and Non-Market Influences, Corporate Form, And The teaching materials. Structure Of Innovation R. Daniel Wadwhani, University of the Pacific Dara Szyliowicz, University of the Pacific Session 1178 Organizational Capabilities This paper examines the impact of non-market forces on the evolution of industry structure and ownership/governance form. Track B Date Tuesday, Oct 16 Focusing on the personal finance industry in Germany, Great Time 17:00 - 18:15 h Britain, and the United States, we examine the causes of divergence Paper Session Room Nautilus 3 in the structure and dominant ownership form in the industry in the formative period between 1870 and 1930. While market- Session Chair Richard Reed, Washington State University based developments, like changes in the size of the market and the Unbundling Lobbying Capability: Non-Market introduction of innovations, explain part of the national divergence, Strategy Development In An Exogenous Policy we find that a number of non-market developments (including Context new regulations, forms of political organization, and differences in public opinion) had significant effects on the structure of the Thomas Lawton, Imperial College London industry in each country. Tazeeb Rajwani, Imperial College London y ay d s e u t We deploy a dynamic resource-based perspective to unbundle Session 1219 the development of micro level lobbying processes as a strategic capability for airline companies in the exogenous policy context of Scorecards and CRS post-September 11th, 2001. Using an inductive model, our findings Track C Date Tuesday, Oct 16 indicate that cognitive blueprints play a vital role in guiding and Time 17:00 - 18:15 h developing lobbying capabilities by allowing senior managers Paper Session Room Executive Center 3a to choose the level of investments in human capital, network 17:00 - 18:15 relationships, structural modification and lobbying competencies. Session Chair This heterogeneous capability is developed differently in private and public airlines as a result of different ownership structures and The Strategic Control Of Non-Market Industries: time compositions that interplay with organizational cognitive Findings From United Kingdom Regulated blueprints. The article contributes to ongoing dialogue in both Monopoly Network Utilities the dynamic capabilities and the corporate political activity Vinh Chau, University of East Anglia literatures. Barry Witcher, University of East Anglia (UEA) The paper presents key findings from a longitudinal tracer project Re-Examination Of The Relationship Between which took place between April 2002 and March 2004 in the U.K. on Institutional Ownership Composition And The the impact of regulatory policy incentives on the strategic control of Structure Of CEO Compensation three utility companies. The research concerned three detailed case Jae Yong Shin, University of Illinois-Urbana Champaign studies in exemplar companies, which were regional monopolies, Jeongil Seo, KDI School of Public Policy & Management and involved following their entire planning and decision-making This study investigates the relationship between the structure of cycles to understand how exactly specific regulatory policy CEO compensation and the composition of firms’ institutional implications affected daily work and management – this involved ownership in terms of legal type. We question the assumption of a methodological approach known as tracer studies (which is previous literature that ‘pressure-resistant’ institutional investors rare in management research). The key findings suggest that (e.g. public pension funds, mutual funds, and endowments and regulatory control of companies is most prominent in the general foundations) are more likely to influence their portfolio firms price-capping form, rather than specific policies, and companies’ to design CEO compensation packages that are more sensitive responses seem to relate more to it. The most common approach of to firm performance than ‘pressure-sensitive’ institutional companies in building regulatory imposition into their performance investors (e.g., banks, insurance companies). We found that the management systems is the use of balanced scorecards. The exact
San Diego | October 14-17 2007 8 5 tuesday sessions | 17:00 - 18:15
meaning of these varies from company to company, as well as Session 1247 the meaning of balance. However, what is commonplace across Discussions about Technology, Scope and the companies is that multi-stakeholder considerations must be Performance understood well in order for multiple-objectives to be managed well. This quintessentially requires participation of the company at Track E Date Tuesday, Oct 16 the holistic and cross-functional levels. Time 17:00 - 18:15 h Common Ground Session room Executive Center 2a A Balanced Scorecard-Based Evaluation Of Facilitator Marvin Lieberman, UCLA Corporate Governance Structure Gyeong Mook Kim, Duksung Womens University Information Technology Enabled Product In this study, I borrowed the process idea from balanced scorecard Modularization: A Value-Based Approach perspective to test the corporate governance effectiveness. Views Integrating Supply And Demand Perspectives were tested with 324 Korean listed companies. The results showed Judith Gebauer, University of Illinois-Urbana Champaign that foreign investors’ stock ownership was positively related to Joseph T Mahoney, University of Illinois-Urbana Champaign balanced investments. The results, further, demonstrated that the This research paper examines why and under what conditions product proportion of outside directors and institutional investors’ stock modularization will occur in a market, in particular as a result of ownership moderated the relationship between foreign investors’ the availability of modern information systems and internet-based stock ownership and balanced investments. Implications for theory communication standards. Even though modularization has been and practice are suggested. discussed widely in research areas such as Product Development, Competitive Strategy and Organizational Economics, the dynamics Effects Of Performance Measurement Systems that support or hinder greater modularization are not fully Veronica Martinez, Cranfield University understood. We present a value-based approach to modularization Mike Kennerley, Cranfield University that integrates supply and demand perspectives, and suggest that This research investigates the effects of performance measurement product modularization in a market will occur if it results in net systems, using the goal setting theory. It identifies a mix of positive benefit, as determined by impacts on: 1) product performance; and negative effects from an in-depth case study and generalizes the 2) production costs; 3) transaction costs; 4) market value; and 5) case study’s findings with a survey study in 121 large UK organizations buyer-perceived product value. operating in the manufacturing and service sectors. Our evidence shows that 12 effects, out of 38 positive effects found from the case Demand-Side Diversification In Industries Based study, were found significantly relevant to UK organizations in areas On Systemic Technologies of people’s behavior, capabilities and performance. Conversely, four Lalit Manral, Long Island University out of nine negative effects identified in the in-depth case were Horizontal fragmentation poses a strategic dilemma for incumbents highly significant in UK organizations. The findings suggest four whether to diversify to offer new complements and/ or enter y ay d s e u t factors that moderate the firms’ results. Finally, this research discusses new geographical sub-markets to increase their overall market- the implications to the body of knowledge and practice. share. This paper captures the dynamics of strategic implications – for incumbents and potential entrants – of increasing horizontal Linking Corporate Social Responsibility To Strategy fragmentation within a particular industry. It models firms’ With The Balanced Scorecard: A Ricoh Corporation diversification behavior in a horizontally fragmenting industry Case Study as endogenous entry. In doing so, it also addresses the gap in
17:00 - 18:15 Sylvia Maxfield, Simmons College the empirical literature on endogenous models of entry which Monica Nakielski, Palldium Group predominantly focuses on idiosyncratic firm characteristics to explain Jay Wolfgram, Palladium Group de novo and de alio entry while assuming away the variation in The most popular CSR tools are stand-alone reports of environmental structural characteristics. The unique proprietary NECA PSL dataset and social performance following the Global Reporting Initiative. of US Long-distance Telecommunications Services industry allows Reporting alone does not necessarily reflect or spur strategic us to identify market characteristics that influence entry. integration of CSR activities. Although examples abound of CSR initiatives related to corporate core competencies or unique Why Some Firms Never Invest In R&D business objectives, there are few corporations that have changed Alvaro Cuervo-Cazurra, University of South Carolina company-wide managerial hierarchies/reporting lines, budget Annique Un, University of South Carolina processes, personnel performance assessment and/or other aspects We analyze why some firms never invest in research and development of organizational life in order to engage operating managers (R&D). We identify and test four explanations for this behavior. in activities that highlight social issues based on their strategic We first reverse the logic of two prior explanations in related R&D importance. Surveys indicate that CSR leadership remains isolated investment literature and discuss (1) the lack of competitive pressures in the boardroom. Based on interviews, this paper explores the and (2) lack of resources. We then add two novel explanations: case of Ricoh, which decentralized CSR leadership using a balanced (3) reliance on other firms for technology and (4) lack of need for scorecard framework to incorporate CSR metrics into its corporate proprietary technology in the firm’s activities. The empirical analysis strategic management process. confirms that each of the explanations is a significant determinant of a firm’s decision never to invest in R&D. However, we find that, in comparison to firms that always invest in R&D, while a lack of resources determines that a firm never invests in R&D, it does not explain why a firm sometimes does not invest in R&D.
8 6 SMS 27th Annual International Conference 17:00 - 18:15 | tuesday sessions
Research And Development Expenditures, Toward A Relationship-Based Theory Of Strategy Research Outcomes, And Firm Profitability: Insights Xin Li, University of London Into The Software Industry This paper proposes a relationship-based theory of strategy, which Annetta Fortune, Drexel University is based on the relationship-based view of the firm (R–BV). The R– Lois Shelton, California State University-Northridge BV treats a firm as a collection of relationships between the firm Using the theoretical foundation of the resource-based view, we and its stakeholders. So the relationship-based theory of strategy examine the relationship between capabilities, resources and firm argues that an effective strategy starts from building and developing performance in the context of the research intensive, knowledge harmonious firm-stakeholder relationships, and has three essential based software industry. Empirical analysis of 604 firms reveals that elements: competitive advantage, strategic intent and strategic capabilities in the form of research and development expenditures architecture. A truly competitive company is a one that can mediate the relationship between intangible resources and firm effectively create relationship advantage, and then transform it into profitability, even though both, knowledge based intangible assets, intermediate advantages such as quality and innovation advantages, and organizational research and development capabilities are each and finally integrate into product attractiveness advantage such as positively related to firm performance. Thus, we find support for low cost, differentiation or the combination of the two. In essence, the role of knowledge-based firm resources serving as feedstocks the relationship-based theory of strategy is about total relationship to guide the development and deployment of organizational management (TRM). capabilities. Social Capital Competitive Advantage: An The Spread Of A Technology: The Evolution Of Empirical Analysis Polymerase Chain Reaction (PCR) James Davis, University of Notre Dame Joan Penner-Hahn, Wayne State University Viva Bartkus, University of Notre Dame Anna Ejakova, Wayne State University Social capital represents the willingness to be vulnerable toward a The development and transfer of new technological skills is an group that one may not know and whose actions one can neither important strategic aspect for many firms. In order to better monitor nor control. Social capital is a construct composed of three understand the movement of technological discoveries, we examine factors: the identification of members with the network, the norms the case of a specific technology, the Polymerase Chain Reaction shared among them, and the a priori abilities and resources that are (PCR). PCR is considered one of the most important biotechnological brought individually or held by the group collectively. In this paper discoveries. Discovered by Kary Mullis in 1987, he received the Nobel we argue that social capital plays a mediating role between these Prize for it in 1993. We use the patents which cite the original PCR internal characteristics of the firm and its economic performance; patent to investigate the path of the technology development. We in other words, that social capital gives the firm its sustainable plan to use ArcView, a geographical information system, to enrich competitive advantage. We test our proposed model with a sample our understanding of the factors that lead to technology transfer of employees of a major, public multinational corporation. and spread. This will be a unique methodological contribution to the field of strategy. Strategic Alliances And Competitive Performance ay d s e u t Francisco Goncalves, ISEG Lisboa University Strategic Risk Management And Corporate Vitor Goncalves, ISEG Lisboa University Performance Effects This paper presents an explanatory model, built on a Dynamic Torben Juul Andersen, Copenhagen Business School Capabilities View (DCV). It proposes that the frequently-established Corporate risk management is in vogue and there is increased focus association between alliances and performance can be further on formal enterprise risk management practices. It seems apparent explained by dynamic capabilities (DCs). In fact, it offers two main 17:00 - 18:15 that strategic response capabilities dealing with uncertainty and contributions. First, it critically reviews some published literature exposures that are hard to quantify may constitute an important regarding the DCV and highlights a specific role for DCs, that of competitive edge. However, few management studies have moderators. Second, it seeks to advance the current knowledge investigated whether the ability to handle exogenous risk factors on the impacts of the strategic alliance on performance by testing and thereby reduce earnings variability is associated with superior a stratified approach. Specifically, this paper explores the role performance. Hence, this study analyzes the relationship between of alliance management capability in shaping that relationship, strategic risk management and financial returns and finds that raising some interesting implications for theory and for practice. effective risk management has a positive association to corporate Finally, an empirical application of the proposed role for performance that is enhanced by low financial leverage and alliance management capability is conducted on the Portuguese investment in innovation. pharmaceutical industry.
Session 1147 Theoretical Clustering, Institutional Clustering, And Academic Social Networks: A Study Of The Allying and Allying Well: Alliance Strategic Management Journal Capability and Performance Duncan Robertson, University of Warwick Track E Date Tuesday, Oct 16 We undertake a social network analysis of strategic management Time 17:00 - 18:15 h co-authorships derived from a data set of 70,000 papers cited in the Paper Session Room Nautilus 4 Strategic Management Journal. We present evidence of clustering Session Chair Duncan Robertson, University of Warwick within this academic social network, grouping within academics’ co-authors’ institutional affiliations, and we perform a longitudinal study of the evolution of the development of strategic management as a discipline.
San Diego | October 14-17 2007 8 7 tuesday sessions | 17:00 - 18:15
Session 1074 the performance influence of CEOs is manifest in the actions taken CEO Succession by firms whereas CEOs’ influence apart from those actions does not appear to have a consistent effect on firm performance. Track F Date Tuesday, Oct 16 Time 17:00 - 18:15 h Competition For CEO Succession: Retired Directors Common Ground Session room Executive Center 2b And Disinherited Heirs Facilitator Margarethe Wiersema, University of California- Scott Johnson, Oklahoma State University Irving Karen Schnatterly, University of Missouri-Columbia In this study, we examine the circumstances under which a firm is Examining The Effects Of Top Management Team either likely to choose a new CEO from the board (as opposed to Turnover On Firm Performance: A Meta-Analysis either an insider or outsider) or not choose an heir apparent as a Frank Butler, Florida State University new CEO. Previous research has focused largely on heirs apparent Alexa Perryman, Florida State University vs outsiders as choices for the CEO’s successor. We suggest that a Annette Ranft, Florida State University succession event where an outside board member becomes the Differing perspectives exist regarding the importance of retaining new CEO is likely to indicate a power struggle in which the existing managers in an acquired firm. A market for corporate control CEO is forced out by a board member instead of being replaced by perspective suggests the need to ‘prune managerial deadwood’ in a hand-picked successor. an acquired firm to improve financial health. Other research from a resource-based perspective highlights that acquired managers The Effect Of CEO Succession On Firm Performance may be important to retain, especially during the integration And Stock Analyst Ratings of an acquired firm to ensure positive performance outcomes. Margarethe Wiersema, University of California-Irvine In this study, we employ meta-analytic techniques to review Mark Washburn, University of California, Irvine and synthesize empirical research that has examined the link Even with the strong link between antecedent poor performance between executive turnover in an acquired firm and subsequent and CEO succession, it is not clear what effect CEO succession has performance. Using a sample of. . studies investigating 5,394 on subsequent performance. The present paper addresses this issue firms we find a negative relationship between turnover and by comparing performance over time in firms that experience CEO performance in support of the resource-based view. Implications successions to relative performance of firms that retain their chief for research and practice are discussed. executives. Surprisingly, we find that firm performance measured using stock analyst ratings always improves after CEO succession, When Labor Has A Voice: The Impact Of Employee even when firm performance measured as ROA does not. Ownership On CEO Dismissal Zied Guedri, EM Lyon The Employment Of Interim Chief Executive Xavier Hollandts, EM Lyon Officers And Subsequent Firm Performance
y ay d s e u t Pierre Yves Gomez, EM Lyon Gary Ballinger, University of Virginia This paper builds upon and extends previous research examining Jeremy Marcel, University of Virginia the antecedents of CEO dismissal by suggesting that employee We investigated an unexplored but growing phenomenon in ownership may moderate the relationship between firm corporate governance - the board of director’s choice to employ an performance and CEO dismissal likelihood. In particular, we argue ‘interim’ CEO. We examined 540 CEO succession episodes occurring that employee ownership might be used by CEOs to reduce the between 1996 and 1998, and found that 96 (18%) of these successions
17:00 - 18:15 efficiency of internal and external corporate control mechanisms, involved an interim CEO. We leverage theory to debate the pros and hence, to prevent their own dismissal even in the presence and cons of this practice, and empirically test the influence of this of poor firm performance. We also suggest that the likelihood of choice on subsequent firm financial performance and survival. We CEO dismissal of poorly performing firms is further reduced when found that the use of an interim CEO was negatively associated employee owners have a voice on the board of directors. This ‘dark with financial performance and survival after the permanent CEO side’ of employee ownership and board representation is, however, finally took the job. Firms that used an interim CEO in cases of counterbalanced in the presence of large outside blockholders. voluntary CEO succession were more prone to failure over a seven- Results drawn from a sample of 189 French firms provide support year period relative to those that did not use an interim CEO. for our hypotheses. Session 1077 A Bayesian Examination Of The CEO Effect On Firm Diversification and Firm Performance Performance Mark Hansen, Brigham Young University Track F Date Tuesday, Oct 16 Shane Reese, Brigham Young University Time 17:00 - 18:15 h Lee Perry, Brigham Young University Paper Session Room Nautilus 2 Management scholars have been interested in various antecedents Session Chair TBD of firm performance for decades. This paper bridges two lines of inquiry that have developed in the literature, namely the firm Multidimensional Relatedness, Financial effect vs. industry effect and the CEO effect on firm performance. Performance, And The Diversification Discount: A Bayesian model is developed that allows the examination of Industry-Specific Evidence the CEO effect, the effect of actions taken by the firm, the firm Frithjof Pils, Jacobs University Bremen effect, and the industry effect. CEOs that have been the CEO at two Business relatedness is fundamental to the performance implications different firms are studied to isolate the CEO effect. We find that of diversification strategy. The construct of relatedness being
8 8 SMS 27th Annual International Conference 17:00 - 18:15 | tuesday sessions
multidimensional in nature, however, there is sporadic empirical institutional investors add another voice to the debate about their evidence only on how different types of relatedness impact influence on companies’ scope of activities, and call for further performance. Moreover, if synergies by means of scope economies research to better understand this phenomenon. is the economic justification for multi-business firms to exist, then some at least of the multi-business firms with the highest levels of Session 1271 relatedness should trade at a premium rather than at a discount. Country By Country: An Assessment of Non- In this study, I test the separate and joint effects of multiple Market Influences types of relatedness on corporate accounting- and market-based performance. I conduct industry-specific analyses for a number of Track G Date Tuesday, Oct 16 350 large manufacturing firms in seven primary industries over the Time 17:00 - 18:15 h period 1985-2006 and derive implications for corporate strategy Paper Session Room Marina 1 theory and practice. Session Chair Martin Kunc, Universidad Adolfo Ibanez The Heterogeneous Effects Of Diversification On Managing Corporate Reputation In Emerging Firm Value Countries: A Comparative Case Study Of Two Tyson Mackey, Texas A&M University Chilean Firms This paper examines why diversification creates value for some Martin Kunc, Universidad Adolfo Ibanez firms but does not create value for others. Using a Bayesian linear Chile has grown in economic and societal aspects during the last hierarchical model, firm-specific effects of diversification on firm 20 years due to sound macroeconomic policies and the return of performance are estimated as a function of firm attributes. The main democracy. These changes generated a new environment for doing finding of this paper is that firms are rational in their expectations business as advocacy groups have grown in influence supported by about diversification’s effect on firm value. Firms that are diversified a more sophisticated news media system. In this paper, I provide a are, on average, creating value from diversification while focused comparative case study of the evolution of the corporate reputation firms would not, on average, create value from diversifying. Related of two Chilean leaders in the market pulp manufacturing. One of diversifiers, on average, have higher firm-specific value creation them had problems with stakeholders after it started building a from diversification than unrelated diversifiers. new huge market pulp mill. The second firm had its corporate When Do Firms Value The Whole Versus A Part? reputation relatively intact even though it built simultaneously a Acquisition Of Multi-Location Targets market pulp mills as large as the other’s company. Miguel Ramos, University of Massachusetts Dartmouth Non-Market Influences On Market Strategies Of Firms with presence in multiple locations are often acquired. I examine Russian Banks: State Representatives On Corporate the conditions that make acquirers value the collective location Boards And Performance characteristics of such multi-location targets versus a particular Ilya Okhmatovskiy, McGill University location when selecting them. I predict that, under conditions ay d s e u t An important feature of many transition economies is persistent that make market-seeking acquisitions more likely, acquirers value involvement of the state in governance of large corporations, aggregate geographic characteristics of multi-location targets such even after their full or partial privatization. In this paper I consider as their total market access and geographic dispersion. I also predict benefits and constraints associated with the presence of state that, under conditions that make knowledge-seeking acquisitions representatives on the boards of directors of Russian banks. more likely, acquirers may value and select a multi-location target Board seats provide state representatives with an opportunity to because of its presence in a knowledge intensive location. I test influence banks’ strategies and I study how priorities of directors 17:00 - 18:15 these predictions by analyzing U.S. acquisitions activity from 2002 to representing different state organizations affect growth and 2004. This research contributes to strategy research by studying the profitability of banks. influence of geography on acquisition activity while acknowledging firms’ often complex geographic configurations. Meeting The Environmental Challenges: Strategies Against Counterfeiters In China When Ownership Structure InfluencesC orporate Diversification Strategies Zheng Han, International University-Bremen Chunli Zhao, International University-Bremen Denis Lacoste, Groupe ESC-Toulouse Sven Voelpel, International University-Bremen Stéphanie Lavigne, Groupe ESC-Toulouse This paper develops a holistic anti-counterfeit strategy model, Eric Rigamonti, ESSCA which helps companies to first understand different sources This paper tries to show the influence of the share of capital of threats within the unique Chinese environment, second to held by managers, blockholders, and institutional investors on examine and improve their existing corporate strategies against diversification strategies. The study focuses on the companies that counterfeit, and third to develop and introduce new effective make up the CAC 40 (the leading French stock market index). The approaches against counterfeit. The model includes five different results show that (i) companies in which managers hold a large strategic perspectives, i.e.: the marketing perspective, the share of the capital tend to undertake unrelated diversifications, channel perspective, the defensive perspective, the relationship (ii) companies in which blockholders are present pursue related perspective, and the surveillance perspective. Several cases are used diversification strategies, (iii) companies’ diversification strategies to support discussion of each perspective and deduct managerial are independent of the share of capital held by institutional implications. investors. This research largely confirms, in another context and using a different methodology, the findings of the agency theory supporters and in a way disconfirms the results of the stewardship approach. The results concerning the negligible influence of
San Diego | October 14-17 2007 8 9 tuesday sessions | 17:00 - 18:15
Upgrading Natural Resource-Based Industries: The Nature Of Strategy Evaluation: Existing The Role Of National Systems Of Innovations In Perceptions Developing Countries Xiang Nong Song, University of Warwick Martin Kunc, Universidad Adolfo Ibanez Abhijit Mandal, University of Warwick Tomas Gabriel Bas, University of Adolfo Ibanez In the light of contemporary event and the intriguing nature of While natural resource based industries are very efficient exploiting strategy effectiveness, an underdeveloped area of strategic process the natural endowments in developing countries and having an research – strategy evaluation – calls for attention. We propose a important participation in world markets (e.g., copper in Chile), paper that to echo such a need. It primarily focuses on reviewing the most of them have not generated development in their societies. current state of literature as the rationale to throw up suggestions This paper attempts to answer the following question ‘what is for future research directions. The initial major dimensions are the role of the national system of innovations in the process of concerned with the scope of strategy evaluation and the timing upgrading the cluster of firms around natural resource based of strategy evaluation. Our preliminary analysis suggests certain industries?’ using the Chilean copper mining industry as an example. secondary dimensions that may deliver more insights about the role We observed very low investment in research and development of performance and the role of strategy in strategy evaluation. without a relevant impact in terms of upgrading local suppliers or generating new entrepreneurial activity even though the industry An End-To-End Process View Of Strategy is booming with exports around $17 billion (USD). Management: A Research Framework Aylin Ates, University of Strathclyde Session 1171 Umit Bititci, University of Strathclyde Holistic Models Robert Van der Meer, University of Strathclyde Jillian MacBryde, Strathclyde University Track H Date Tuesday, Oct 16 This study develops a research framework, which offers a coherent, Time 17:00 - 18:15 h holistic and explicit understanding of strategy process by means Common Ground Session room Executive Center 4 of tasks and contextual factors fitting together for successful Facilitator Arvind Bhambri, University of Southern California outcomes. Current research suggests that context, process and content (outcome of strategy) views of strategy management Strategic Heterogeneity And Firm Performance: A are interrelated. However the current literature fails to articulate Co-evolutionary View the links among them. By taking a process view of strategy Giovanni Battista Dagnino, University of Catania management, this paper seeks to develop an end-to-end view Maria Cristina Cinici, University of Catania of strategy management that captures these linkages. Through This paper suggests a co-evolutionary analysis of the relationship discussion of the existing literature, a draft process model is between heterogeneity and firm performance advocating a more presented. The paper then reports on primary research including
y ay d s e u t dynamic view of strategic heterogeneity. Drawing on previous three exploratory case studies. The initial findings imply that broad model of business process theory can help us identify relationships research in behavioral and evolutionary economics of heterogeneity amongst context, process and content views. and performance, we propose a conceptual framework that clarifies how the co-evolution of strategic heterogeneity and firm Applying Systems Thinking To The Development performance occurs over time. We theorize that heterogeneity and Of A Strategy Formulation Model performance co-evolve through strategic interrelatedness, circular Jimmy Brown, Hewlett-Packard 17:00 - 18:15 causality and feedforward processes. In addition, we detect two Strategy is about driving sustainable competitive advantage. main levels of heterogeneity sources within and between firms, Recently, however, there has been a realization that the current and advance taxonomy of conditions that epitomize the causal strategy paradigms do not always live up to their potential, and relationships between heterogeneity and performance. In the last there have been calls for new approaches to these processes (Collis section, we suggest a few speculative issues laying the groundwork & Montgomery, 1995; Cummings & Angwin, 2004; Mintzberg, 1994). for prospective research in strategy. This proposal describes research that attempts to respond to those calls by applying a systems thinking lens to the current strategy Deploying Early Warning Signal Scanning And ontologies in an effort to develop a new model that addresses some Data Monitoring To Enhance and Extend Scenario of the criticisms. The result was the Multi-Dimensional Strategy Investment Values: Enabling Scenarios To Become Model (MDSM) that defines how top performing organizations Processes integrate information from diverse perspectives, and then make Rafael Ramirez, University of Oxford sense of those various kinds of data. Daniel Grönquist, NormannPartners Riku Österman, Nokia Corporation Continuity In Change: Strategy Dynamics In Two This paper relates environmental scanning and managerial Swedish Multinationals discretion by comparing two systems that relate environmental Olof Brunninge, Jönköping University change tracking to scenario practices. it uses a process-based view Leif Melin, Jönköping University of strategy to analyse these. Stability and change are central concepts in strategy research. However, while they are often depicted as a dichotomy in the literature. Empirical evidence shows that the two occur as a duality rather than two mutually exclusive opposites. This means that stability and change, though being seemingly contradictory are actually interwoven. We therefore propose using the concept of
9 0 SMS 27th Annual International Conference 17:00 - 18:15 | tuesday sessions
continuity to investigate how stability and change can be combined shifting environments. We see the answer in an organization’s in strategy processes. Strategic continuity implies that even while strategic change capacity and, consequently, develop a conceptual changes in strategy occur, the outcome of change has enough model of this construct. A set of research propositions is presented similarity with history to be recognized as its continuous follower. that deals with the theoretically distilled antecedents of strategic Two cases from multinational Swedish firms show how strategists change capacity as well as the latter’s impact on corporate can manage the interplay between stability and change in order to performance. Our study contributes to the existent findings on create changes that are perceived as continuous. radical organizational changes by adding the upcoming literature approach on organizational change capacity. This will improve Session 1065 our understanding of how top management can successfully Alignment & Turbulence manage radical strategic changes in order to achieve sustained organizational effectiveness. Track H Date Tuesday, Oct 16 Time 17:00 - 18:15 h Strategic Alignment In The Call Center Industry: Paper Session Room Nautilus 1 Empirical Findings From Four Developing Countries Moacir Oliveira Jr., University of Sao Paulo Session Chair Stéphane Girod, University of Oxford Chris Benner, Pennsylvania State University Performance Implications Of Organizational Paulo Giao, University of Sao Paulo – USP Restructuring: The Moderating Effect Of The main purpose of this article was to analyze the strategic Environmental Velocity And Multinationality alignment in the call center industry in four developing countries Stéphane Girod, University of Oxford (Brazil, India, Poland and South Africa) using bidirectional statistical David Barron, University of Oxford tools (strategy defining internal procedures and vice-versa). For this Richard Whittington, University of Oxford a survey was carried out. The strategic alignment was not found in the industry as a whole in the countries. It seems that strategic In classic strategy and organization theories, periodic changes alignment should not be possible to be identified in a complete of formal corporate structure have been seen as important and sector. Additional mathematical tools were applied and find that positive for performance. But in a context of allegedly rising it is possible to identify some cases among all cases in an industry. hypercompetitive environment, several scholars have cast doubts A proposed framework was structured improving analysis for on restructuring benefits, especially for firms evolving in high strategic alignment and can be applied in other industries. velocity environments and for multinational enterprises. The value of restructuring is now contested, therefore. However, Session 1104 empirical research has not kept pace with the debate. Thus, on Innovation equals integration: Beyond behalf of academic and practicing managers, we cannot yet either invention or openess, toward an predict whether organizational restructuring can make a positive integrated model
difference, and when this is more or less likely to be the case. We ay d s e u t explore these questions with a large-scale longitudinal study of Track I Date Tuesday, Oct 16 the restructuring-economic performance relationships among the Time 17:00 - 18:15 h fifty largest American industrial firms between 1985 and 2004. Panel Session Room Nautilus 5 Friend Or Foe? Corporate Control And Strategic Moderator Decision-Making Speed At The Strategic Business Michael Lord, Wake Forest University Unit Level Panelists 17:00 - 18:15 Maximilian Kownatzki, Mercer Management Consulting Don DeBethizy, Targacept Inc Christoph Lechner, University of St Gallen Jeff Wager, ArtisanPharma Inc Jorge Walter, Portland State University Carol Strohecker, Center for Design Innovation Our study combines both qualitative and quantitative approaches This panel explores an emerging new global model for both corporate to develop a taxonomy of corporate control behavior and to and entrepreneurial innovation – i.e., Innovation as Integration. examine how it affects strategic decision-making speed at the SBU- Most conceptions and operationalizations of innovation continue level. In particular, we analyze 40 interviews in five multi-business to place undue emphasis on raw creativity and ideation, on simple companies and a variety of secondary data sources, employing a invention and patents and stylized design, from whatever the grounded theory approach, to derive 9 mechanisms of corporate source. Drawing on a rich collaborative research program, as well control. In a subsequent quantitative analysis, based on the repertory as on their diverse experience as innovation consultants, executives, grid technique, we relate these corporate control mechanisms to and entrepreneurs, this panel instead focuses on how Integration the speed of strategic decision making. By explaining aggregated is the primary factor and vital competence that distinguishes effects of corporate control behavior our results make corporate successful innovation. Innovation as Integration operates at three management processes more comprehensible and manageable. different, but all critical and mutually-reinforcing, levels of analysis: 1) component-product integration;. ) strategic-organizational Strategic Responses To Environmental Shifts: integration; and 3) macro-market (ecological) integration. The Building Strategic Change Capacity emerging new model for innovation is neither ‘closed’ nor ‘open’, Patricia Klarner, University of Geneva but Integrated. Gilbert Probst, University of Geneva In our study, we address the question of how organizations can anticipate, develop and implement a series of radical strategic changes over time in order to maintain congruence with their
San Diego | October 14-17 2007 9 1 tuesday sessions | 17:00 - 18:15
Session 1088 discontinuous knowledge flows. The proposed model contributes Knowledge Flows and MNCs to an understanding of the linkage between knowledge and innovation dynamics by re-embedding knowledge transfers within Track I Date Tuesday, Oct 16 the firm in the larger context of structure and innovation. Time 17:00 - 18:15 h Paper Session Room Executive Center 1 Knowledge Management Within MNE’s Intranet: Session Chair TBD The Contingency Of Dyadic Organizational Factors For Knowledge Sharing Knowledge Transfer And Communities Of Practice: Hsin-Mei Lin, National Chinan University Dynamic Learning In MNCs Chih-Pin Lin, Aletheia University Stephen B Tallman, University of Richmond Heng-Yih Liu, Yuan Ze University Knowledge acquisition and transfer within its network of This study examines important contingencies that facilitate subsidiaries and affiliates is the key source of competitive advantage knowledge transferring within MNE’s intra-network. Drawing of the MNC. The literature addressing this phenomenon describes on the organization perspective and knowledge management a shift of focus from center-to-subsidiary knowledge movement theories, we empirically explore major dyadic organizational factors to recognition of subsidiaries as sources of new knowledge. that determine knowledge sharing in form of internalization, What is not clear is the mechanism of knowledge development externalization, socialization, and combination (Nonaka, 1994) and dissemination among subsidiaries. This paper proposes a among peer subsidiaries. Using dyadic data from. 6 subsidiaries model built on the concept of Communities of Practice as the key within a MNEs headquartered in German and testing with MRQAP sources of know-how creation and of practice-based architectural empirically, we argue that the similarity in organizational strategy knowledge as the key to absorptive capacity that conditions and structure facilitate knowledge externalization, while the learning across organizational boundaries. It uses these concepts to similarity in structure and management process are positively derive a framework for knowledge absorption and dissemination associated to internalization. Similarity in structure and technology throughout the MNC. strengthen the knowledge externalization, and similarity in strategy and culture facilitate socialization. Knowledge Flows Within Multinational Corporations: Explaining Subsidiary Isolation And Session 1090 Its Performance Implications Knowledge impact Felipe Monteiro, London Business School Niklas Arvidsson, NormannPartners Track I Date Tuesday, Oct 16 Julian Birkinshaw, London Business School Time 17:00 - 18:15 h Paper Session Room Marina 2 This paper provides some initial insight to the little-researched phenomenon of why some subsidiaries are isolated from knowledge Session Chair Aramburu Goya, University of Deusto y ay d s e u t transfer activities within the multinational corporation. Knowledge transfer is framed as a problemistic search process initiated by the Does Knowledge Mediate The Relation Between recipient unit. We show that knowledge flows from units that are The Environment And The Decision To Innovate Or perceived to be highly capable to units that perceive themselves Imitate? to be highly capable. Knowledge flows are also associated with Ana Pérez-Luño, Pablo De Olavide University-Seville existing levels of communication and reciprocity. Taken together, Ramon Valle, Pablo De Olavide University-Seville
17:00 - 18:15 these findings suggest that knowledge transfers in MNCs typically Johan Wiklund, Jönköping University occur between highly capable members of an in-crowd, while This paper describes the mediator role of knowledge (codifiability and the isolated minority rarely, if ever, engage in knowledge sharing complexity) between the environment (dynamism, sophistication, activities. Finally, we show that the isolated minority underperforms and hostility) and the decision to innovate or to imitate. We argue other subsidiaries, suggesting the possibility of a ‘liability of internal that innovation and imitation are the endpoints of a continuum, isolation’. and that each is associated with different degrees of knowledge codifiability and complexity. Our results support this argument, Organizing For Discontinuous Knowledge Flows: reveal the influence of environmental dimensions on knowledge A New Perspective On The Management Of types, and on the decision of innovating and imitating, and provide Knowledge And Innovation In MNCs a positive answer to the traditional question: ‘Are innovators more Bjorn Ambos, Vienna University of Economics & Business profitable than imitators?’ We tested our hypotheses with a survey Administration of. 38 firms from the most innovative Spanish industries using Tina Claudia Ambos, Vienna University of Economics & structural equation modeling. Business Administration Over the last two decades, a growing body of literature has turned Knowledge Sharing And Innovation Performance: to knowledge as an intriguing and powerful explanation of why Empirical Evidence some firms are able to build sustainable competitive advantages Josune Saenz, Orkestra - The Institute of Kompetitiveness + and others are not. However, by critically reviewing the literature, Development we came to the conclusion that three misconceptions are found Aramburu Goya, University of Deusto consistently in contemporary knowledge management literature. Olga Rivera, University of Deusto The notion that knowledge flows continuously, that transfer is an The aim of this paper is to analyze the degree of impact of undisputed aim in itself, and that all knowledge creation is the knowledge sharing on innovation performance in the case of Spanish driver of value creation. We develop an organizational model of companies. Additionally, the following issues are addressed: is there
9 2 SMS 27th Annual International Conference 17:00 - 18:15 | tuesday sessions any type of knowledge sharing (for instance, people-based versus Value Appropriation As An Organizational IT-based) more effective than others in order to enhance innovation Capability: The Case Of IP Protection Through performance?; what is the impact of a management context which Patents is in accordance with the ‘middle-up-down’ management model Markus Reitzig, London Business School (Nonaka & Takeuchi, 1995; Nonaka, Toyama & Byosi re, 2003) on Phanish Puranam, London Business School knowledge sharing?; are all types of knowledge sharing equally We develop and test a theoretical framework that describes the enhanced by such a management model? For the hypotheses of the organizational antecedents of value appropriation capabilities in research to be tested, structural equation modeling (SEM) based on the context of obtaining patent protection. We argue that firm- partial least squares (PLS) has been used. level differences in how intellectual property (IP) protection and Managing Innovation And Learning In Dynamic IP generation activities are coordinated underlie differences in the Environments: The Role Of Rapid Response ability to obtain rapid patent protection. Using a unique dataset Capabilities that combines survey and patent (application) data, and employing advanced estimation methodology we show that firm level effects Christoph Grimpe, Centre for European Economic Research (ZEW) on the likelihood of obtaining a fast patent grant are significantly Wolfgang Sofka, Centre for European Economic Research (ZEW) related to the patterns of specialization and co-ordination across Spanish fashion retailer ZARA has been the prototype for a new functional areas such as R&D, business development and law that kind of competitive strategy by beating its rivals through superior underlie IP generation and protection. flexibility and speed to market with new products. We embed this organizational ability that we call ‘rapid response capabilities’ as a The Option Value Of Patent Licenses strategy to learn from the market and respond to it in the capability Maria Isabella Leone, Luiss Guido Carli University based view of the firm. We investigate their antecedents as a Raffaele Oriani, Luiss Guido Carli University combination of absorptive capacities and/or a dynamic competitive The recent diffusion of markets for technology confirms firms’ shift environment. The hypotheses are tested for a comprehensive sample to more open models of innovation based on collaboration and of 3,360 German companies. Our results show that rapid response external sourcing of technological knowledge. However, there capabilities are either built around exploiting existing absorptive still exist several factors hampering firms’ technology exchange. capacities or exploring options given strong environmental Among others, there is the lack of reliable methods for valuing pressures from the technological or demand side. Targeted strategy patents. Patent valuation is especially challenging primary because recommendations for developing such capabilities are developed. of the great uncertainty affecting their returns. As a consequence, Systemic Approach To The Internationalization Of the most recent and promising attempts in this research field have Firms: The Role Of Knowledge, Innovation, And been developed within the real option theory, which recognizes Social Capital the effect of uncertainty on patent value. The aim of this paper is to propose and empirically test a real option-based valuation Enzo Peruffo, Luiss Guido Carli University model of licensed patents whose value, we argue, represents a
Lucia Marchegiani, Luiss Guido Carli University ay d s e u t good market-based proxy of patents value. Luca Pirolo, Luiss Guido Carli University Increasing competitive pressures in dispersed geographical contexts Knowledge Network Evolution: Effects impel firms to continuously innovate, and to expand their boundaries Of Exploration Into Unrelated Areas For to reach foreign markets. Nevertheless, the interrelations between Semiconductor Patents innovation and internationalization are not clear, and a better Rafael Corredoira, University of Pennsylvania understanding is required of the causal relation that drives the Preeta Banerjee, University of Illinois-Urbana Champaign 17:00 - 18:15 growth of firms. This paper focuses on the analysis of international This paper investigates the building of an industry knowledge firms’ performances in terms of activities related to innovation, and network and how the type of exploration affects the innovation’s its main drivers. Thus, internal and external types of knowledge, breadth (number of citations) and depth (generality). The purpose viewed as sources of innovation, are analyzed, as well as the firm’s of this paper is to test how patents that 1) utilize knowledge from initiatives to exploit them. This feeds a Structural Equation Model to new areas (spanning) or 2) combine knowledge from areas never examine the causal relations between the drivers of the growth of utilized together (bridging), perform in terms of number of citations international firms, with a particular emphasis on the mediation role and generality and shape the evolution of technology. Among of knowledge. 8,913 patents issued in 1990-1994, bridging patents receive more citations and have higher generality. On the other hand, spanning Session 1096 patents receive fewer citations with no difference in generality Strategic Value of Patents Interaction affects knowledge network building negatively. Finally, preliminary results indicate the bridging has a larger impact in Track I Date Tuesday, Oct 16 opening new streams of innovations than spanning. Time 17:00 - 18:15 h Paper Session Room Marina 3 Session Chair Warren Miller, Beckmill Research
San Diego | October 14-17 2007 9 3 tuesday sessions | 17:00 - 18:15
Session 1188 considerations are effectively embraced. We suggest a statistically International Entrepreneurship more valid technique, the Multi-Dimensional Scaling (MDS). We believe that our study extend current theory and to make Track K Date Tuesday, Oct 16 contributions to the corporate entrepreneurship literature in two Time 17:00 - 18:15 h ways. First, it suggests a new research methodology. Second, the Common Ground Session room Executive Center 3b comparison of two emerging markets – Peru and Hungary – opens Facilitator Rui Baptista, Technical University of Lisbon up the measurement of strategy and entrepreneurship constructs. Capability And Resource Interactions Within International New Venture Growth: The International Entrepreneurship: Is There A Logic Institutional And The Network Embeddness Of For International Sourcing? Opportunity Recognition Carsten Zimmermann, University of Cambridge Ana Elisa Iglesias, Georgia State University Dieter Lange, Capgemini Consulting Drawing on institutional and network theories, this study examines Philipp Zimmermann, Capgemini Consulting international new venture growth, focusing on how international The ‘strategic logic’ for international sourcing of young enterprises entrepreneurs discover new opportunities in foreign markets where has largely been neglected in the international management and they are already operating. Although opportunity recognition entrepreneurship literatures. We ascertain the ways in which resource research advocates that weak ties provide access to a broader and capability constraints determine whether entrepreneurial firms array of information as compared to strong ties, entrepreneurs engage in international sourcing, as distinguished from combined facing unknown institutional environments may favor spotting modes of internationalization. Primary data from over six hundred opportunities from strong ties as a means of avoiding uncertainty. enterprises in the United Kingdom suggest that resource and This study explores how institutional knowledge, that is the extent capability constraints, and their combinations, are more crucial in to which entrepreneurs know the ‘rules of the game’ in a given downstream and combined modes of internationalization, than country, influences how international entrepreneurs trade-off in determining upstream internationalization itself. Interview between flexibility from weak ties and safety from strong ties in evidence sheds light on the most appropriate ways in which to discovering opportunities in foreign countries. interpret the econometric estimates and highlights a policy blind- spot. Commercialization Strategies For High-Tech Start- Ups: The IP Based Business Model Mutual Enhancement Between Exploitation Simone Ferriani, University of Bologna And Exploration: A Wealth Creation Process In Elizabeth Garnsey, University of Cambridge Emerging Market Firms Gianno Lorenzoni, Bologna University Hong Zhu, Texas A&M University Ian Phillips, ARM Ltd Duane Ireland, Texas A&M University Because of their youth and size, technological start-ups usually
y ay d s e u t We integrate theories of strategic entrepreneurship, resource have little experience in the markets for which their innovations management, and exploitation and exploration to examine how are most appropriate, and do not have a clear business model to emerging market firms lacking competitive advantages enter guide their strategic choices. For these firms, a key management foreign markets to create value and maintain a successful presence challenge is therefore how to translate promising technologies into over time. We highlight the importance of opportunities in the a stream of economic returns for their stakeholders, particularly internationalization of emerging market firms. Our argument is that when their management is linked to the company’s business model
17:00 - 18:15 emerging market firms identify appropriate and valuable foreign and innovation process. The objective for this study is to gain a market opportunities that can be exploited by managing limited more detailed understanding of the capabilities through which resources and capabilities and create value in the process of doing technological start-ups capitalize on their intellectual property. To so. Further, we investigate how emerging market firms balance achieve these goal, we adopted an inductive research methodology opportunity exploitation and exploration to maintain success across based upon an in depth case study of ARM, the number one time in foreign markets. Our work extends internationalization worldwide provider of semiconductor IP. Drawing insights from theory, suggesting that firms need not initially possess competitive qualitative data collected through an extensive interview program advantages as the foundation for entering and maintaining success as well as multiple secondary sources we extend the literature in foreign markets. examining the effective management of technological innovations in new ventures. In particular, we highlight some of the critical Reviewing Scientific Study Of The Entrepreneurial resources and capabilities required to create, leverage and evolve a Processes: The Case Of Two Emerging Markets start-up IP-based business model in an uncertain environment. Lilla Hortovanyi, Corvinus University of Budapest Roland Szabo, Corvinus University of Budapest Ilona Papp, Széchenyi István University Jorge Merzthal Toranzo, ESADE-ESAN Entrepreneurial behaviors are necessary for firms of all size to prosper and flourish in competitive environments. In order to strengthen theorizing on entrepreneurial activity we have addressed the question what are the appropriate research methods for a scientific study of the entrepreneurial process? After carefully reviewing previous studies we have designed such an empirical validation in which the previously ignored methodological
9 4 SMS 27th Annual International Conference 17:00 - 18:15 | tuesday sessions
Session 1180 themselves in a virtuous cycle can use certain network strategies to Entrepreneurial Networks further fuel the virtuous cycle. Potential contributions to alliance, network, and competitive dynamics literatures are discussed. Track K Date Tuesday, Oct 16 Time 17:00 - 18:15 h Entrepreneurial Networks: Mentor-Protégé Effects Paper Session Room Marina 4 On New Venture Performance Session Chair Tom Elfring, Vrije University-Amsterdam R. Scott Livengood, University of Maryland Entrepreneurial actions (innovations) help to create new knowledge, A Study Of Networks, Entrepreneurship, And but due to the tacit nature of this new knowledge, those working Performance: Examining Relational, Structural, with the original entrepreneur should be at an advantage to learn And Brokerage Effects about the innovation. This empirical paper examines the effects of Curtis Moore, Texas Christian University the transfer of new knowledge created by entrepreneurial actions G Tyge Payne, Texas Tech University on employees who leave the entrepreneurial firm to create their Chad Autry, Texas Christian University own new ventures. Archival data is used to trace and compare Drawing upon the theoretical concepts of network theory, the performance of firms created by co-workers (‘protégés’) of transaction cost economics, and resource dependence theory, innovators (‘mentors’). I use a social network lens to explore this this paper aims to make a contribution to the understanding mentor-protégé relationship (termed entrepreneurial networks), of how different strengths and types of network ties influence focusing on an understudied aspect of networks – the value of organizational performance. This study takes a project level certain ties – and examine the relative performance of firms created of analysis to analyze how firms utilize multi-organizational by protégés after they leave the mentor firm. networks to compete with other multi-organizational networks. Based on theoretical arguments and empirical findings, this study will utilize a large, longitudinal sample of construction firms to demonstrate the importance of social networks in a dynamic and fluid, multi-organizational context. In light of the findings, suggestions for structuring effective networks and enhancing collaborative interaction among participating organizations are given. Specifically, the discussion will focus on firms whose primary operations revolve around large contracted jobs. Interorganizational Knowledge Networks And The Performance Of Entrepreneurial Firms Wouter Stam, VU University Amsterdam
Tom Elfring, Vrije University-Amsterdam ay d s e u t Drawing on knowledge-based and network theories, this study examined how the relatedness and heterogeneity of knowledge that is accessible through a start-up’s intra-industry network ties are related to firm performance. To generate a better understanding of the conditions under which inter-organizational knowledge
transfer occurs, this research also investigated the structural and 17:00 - 18:15 relational network properties that strengthen the link between access to novel and heterogeneous knowledge and performance. We examine these relationships at two levels of analysis: 1) the human capital and external ties of the founding team; and. ) the knowledge resources and external collaborations of the firm. Hypotheses are tested using an original dataset of the complete network of informal and formal ties among 90 new ventures in the emerging open source software industry. Firms And Networks: Co-evolution Of Alliance Portfolio, Strategy, And Firm Growth In Interdependent Markets Pinar Ozcan, IESE Business School-University of Navarra Alliance portfolios are beneficial for firm performance, however research fails to show how alliance portfolios change over time, and interact with firm growth and performance. To address his gap, I conducted a multiple-case inductive study on how alliance SMS business meeting portfolios co-evolve with firm growth and strategy. Through Date Tuesday, Oct 16 qualitative and quantitative methods, I traced the development of Time 18:30-19:00 h 6 entrepreneurial firms in the wireless gaming market for 2.5 years. Business Meeting Room Seabreeze The results show that based on the centrality of their portfolio, firms enter a virtuous or vicious cycle that further strengthens or President Michael Hitt, Texas A&M University weakens their portfolio. Moreover, I observed that firms that find
San Diego | October 14-17 2007 9 5 wednesday sessions | 8:30 - 9:45
Session 1184 Global Versus Local Legitimacy In Institutional Globalizing CSSR Reform: Government Interventions In The Private Power Generation Projects Track A Date Wednesday, Oct 17 Witold Henisz, University of Pennsylvania Time 08:30 - 9:45 h Guy Holburn, University of Western Ontario Paper Session Room Seabreeze Bennet Zelner, Duke University Session Chair Michael Lenox, Duke University We build on neo-institutional theory to examine the temporal persistence of newly implemented privatization reforms in the Does The Market Respond To Institutional infrastructure sector. While prior research on institutional change has Endorsement Of Social Responsibility? emphasized factors underpinning the adoption of new institutions, Jonathan Doh, Villanova University we ask why institutional replacements are sometimes subsequently Shawn Howton, Villanova University rejected. We argue that while global pressures for legitimacy can Shelly Howton, Villanova University lead to initial adoption, this may conflict with local actors’ ascription Drawing on institutional theory, we explore whether institutional of moral legitimacy to the institutional replacement. We test our endorsement (or repudiation) of corporate responsibility affects predictions using data on government interventions in private power shareholder wealth. We test our hypotheses by assessing whether generation projects in 60 countries that had previously adopted additions to and deletions from the Calvert Social Index affect market-oriented institutional reforms. Using a novel methodology market valuations of firms. We find that short-term firm valuation that allows us to create a fine-grained, time-varying measure of is unaffected by additions, but that deletions result in negative legitimacy, we find that the incidence of ex post intervention abnormal returns. We also find that firms that added to a social index increases significantly when privatization reforms are deemed locally have higher market-adjusted returns and more positive changes in illegitimate and during times of local conflict. operating performance in the year prior to the index change than their deleted peers and that the announcement day reaction to Session 1194 additions to and deletions from the index is inversely related to the The Rich Texture Of Non-Market Forces amount of information asymmetry surrounding the event. We draw implications for firms non-market strategies. Track A Date Wednesday, Oct 17 Time 08:30 - 9:45 h Private Environmental Activism And The Selection Paper Session Room Executive Center 1 And Response Of Firm Targets Session Chair Alfred Marcus, University of Minnesota Michael Lenox, Duke University Charles Eesley, Massachusetts Institute of Technology Strategy And The Informal Economy Environmental activists are increasingly resorting to private strategies Paul Godfrey, Brigham Young University such as boycotts and protests focused on changing individual firms’ Corporations are making great strides in reaching the world’s poor behavior. In this paper, we examine activists’ use of such ‘private through new and innovative products. Unless strategists focus on politics’ to engender firm compliance with activist objectives. developing factor markets (labor and supplier bases) within the We begin by developing a simple theoretical model of an activist developing world, citizens will lack the basic income and skills to campaign then we develop a series of propositions in response to these purchase products. This paper argues that strategic management questions. We then derive from these propositions a set of empirical theories should have much to add as corporations, government hypotheses based on a set of observable features of firms. Finally, we leaders, and academics search for ways to develop the informal test our hypotheses using a unique dataset of environmental activist economy within many developing countries. campaigns against firms in the U.S. from 1988-2003. This paper fills an important need in the literature as one of the first empirical Rethinking Governments: How Much To Interfere? attempts to examine the private political strategies of activists and Johan Wallin, Synocus Group has important implications for the burgeoning literatures on industry Globalization and global warming are issues that lately have posed self-regulation and the non-market strategies of firms. political decision makers with the oxymoron of business leaders Competing By Doing Good: Does Competition In telling them, that governments have to make more regulations, so The Product Market Originate More Responsible that they as business leaders can act in the long term interest of the society. The ambition of this paper is to present reflections on the
y ay d s e n d e w Corporations? Daniel Fernandez, Saint Louis University question of how much governments should interfere. The research Juan Santalo, Institute of Empresa-Madrid to be conducted is in the form of action research, using the case of Finland as the basis for the discussion. The action research is We investigate the empirical link between Product Market complemented with comparative case studies of Ireland, New Competition and Corporate Social Responsibility with a Panel Zealand, South Korea, and Sweden. data of U.S. companies during the period 1994-2005. We find that Product Market Competition affects positively the level of The Tension Between Market And Non-Market Corporate Social Responsibility. Our results are robust to the use of Strategies In The Internationalization Process different proxies of Product Market Competition that control for 8:30 - 9:45 Carlos Rufin, Babson College endogeneity and for unobserved firm characteristics. Our findings Pedro Parada, ESADE also hold regardless of the subset of Corporate Social Responsibility The coordination of market and non-market strategies for measures we use in our empirical analysis. Our results suggest a companies undergoing internationalization is not a given. For strategic use of CSR in which firms use CSR strategies to differentiate internationalizing utility companies, significant tension may when under the pressure of strong market competition arise between the local nature of regulation and the global
9 6 SMS 27th Annual International Conference 8:30 - 9:45 | wednesday sessions competitive pressures affecting utility industries. Drawing on Non-Market Influences And The Threat Of interviews with utility executives from Europe and North America, Strategic Lock-In we inductively develop several hypotheses about the way in Barnas Nothnagel, Free University-Berlin which internationalizing companies manage the tension between Jochen Koch, Free University-Berlin market and non-market strategies. Companies initially lack an Martin Eisend, Free University-Berlin explicit international non-market strategy, which leads to the rise In this paper we discuss how non-market factors affect a firm on of tensions over time between emergent market and non-market its strategic and organizational level. Referring to path dependency strategies; tensions may be resolved by conferring primacy to theory, we investigate how particular feedback loops between non- either of these strategies, but also through organizational changes. market factors and a firm’s initial resource allocation may entail To manage relationships with public officials, companies develop an organizational process of ongoing specialization. This can lead centralized risk management capacities. to a strategic lock-in situation in case of future changes of the Youth Bulges, Violent Conflict, And A Firm’s relevant non-market factors. We assume that: 1) a successful non- Market And Non-Market Strategies market strategy increases the likelihood of a closed feedback; 2) an organization is more likely to specialize in matching capabilities; Alfred Marcus, University of Minnesota and 3) the more an organization specializes (driven by non-market Mazhar Islam, University of Minnesota factors), the more it reduces its ability to react to future changes. John Moloney, Moody’s Investors Service Our preliminary empirical findings in the German hospital sector We examine violent conflict’s determinants, scrutinizing the corroborate these assumptions. assertion that youth bulges are an important cause. With respect to strategic managerial implications we examine a paradox. On Performance Of Privatized Firms In A Competitive the one hand, youth bulges are associated with robust economies, Market Environment: Too Good To Be True? which suggest investment. On the other hand, they are associated Kim-Chi Wakefield Trinh, National University of Singapore with violent conflict, which suggests excessive risk. Our study This proposal draws on the frameworks of privatization and x- covers observations from 127 nations for 1997-2005 period. We efficiency theories to examine a potential moderating effect find effects of population size, infant mortality, GDP, number of between ownership structure and competitive environment on ethnic groups, prevalence of Muslims, and lawlessness as well firm performance. Statistical analysis employs survey data of 153 as youth bulges are significantly related to conflicts. Instead of privatized Vietnamese firms over a three-year period following resolving all these issues, we raise them in the realm of strategic privatization. Preliminary regression results confirm the effects management scholarship. Specifically, we discuss implications of of ownership structure and competitive market environment on our findings on market and non-market strategies. firm performance. However, these effects vary by the number of years following privatization and the returns on assets of firms Session 1278 before privatization. For researchers, these results raise questions Extending of Views Of Ownership In Non- on how time and firm quality can potentially moderate the effects Market Contexts of ownership structure and competition on firm performance. For investors, these results raise questions on the timing of entry and Track B Date Wednesday, Oct 17 exit of investments in high quality privatized firms. Time 08:30 - 9:45 h Common Ground Session room Executive Center 4 Ownership Forms Across Nations: Non-Market Facilitator Michael Lord, Wake Forrest University Influence Of National Culture, And Some Moderation By Law Enforcement Reevaluating The Privatization Process: An Subrata Chakrabarty, Texas A&M University Analysis Of Argentine Oil Industry Asghar Zardkoohi, Texas A&M University Richard McGowan, Boston College National culture can be considered to be a non-market influence on John F Mahon, University of Maine the corporate ownership structures around the world, which at times Governments are faced with the question whether to privatize is moderated by non-market law enforcement. As hypothesized, the or nationalize valuable assets. Recently, Venezuela decided to national culture dimension of uncertainty avoidance is found with nationalize its oil assets. In 1993, President Menem of Argentina be correlated with anti-director rights and creditor rights. Also, offered a landmark IPO for its oil company, Yacimentos Petroliferos the national culture dimension of power distance is found to be
Fiscales (YPF). The goal of this paper is to assess the benefits positively correlated with the ownership of the largest shareholders. ay d s e n d e w and limitations of privatization, using YPF as a case study. The Furthermore, the national culture dimension of individualism is paper will provide a brief history of YPF. A model to evaluate positively correlated with the extent of widely held firms, and the privatization process will be developed to determine the but negatively correlated the extent of family control. Finally, the economic and political factors involved in privatization. The effects national culture of masculinity is found to be positively correlated that YPF’s privatization had on the revenues that the Argentine with the probability that a member of an ownership controlling government received from the Oil industry after privatization will family is also in a top management position. be presented. Finally how Argentine’s need for control and its need for revenue can be generalized. Ownership Forms And Market Valuation In Chinese Corporate Governance 8:30 - 9:45 Helen Wei Hu, RMIT University Chinese literature concerning ownership structure has been characterised by mixed empirical findings about the impact of concentrated state ownership. Driven by the continued debate on
San Diego | October 14-17 2007 9 7 wednesday sessions | 8:30 - 9:45
the efficiency of state ownership, this study investigates whether access to future opportunities (Bowman & Hurry, 1993; McGrath, or not ownership forms affect market valuation of Chinese listed 1997). This is especially true when uncertainty and irreversibility companies, Tobin’s Q. A stratified random sample of 308 companies exist. Resolving this uncertainty motivates firms to take action is examined and a significant difference between ownership forms to increase the chance of project success, thus real options have and firm value is found. Results suggest that state ownership is less an element of agency. This study focuses on this agency as a key efficient than other ownership forms. Firms controlled directly or success factor when firms use an intentional real options approach. indirectly by the state often exhibit high ownership concentration and By using a case study, the propositions set forth are demonstrated, poor firm performance, whereas firms with legal-person ownership which is a step toward empirical investigation of the benefits or are less concentrated and able to achieve higher firm value. detriments of a real options strategy for corporations.
Session 1146 When To Commit: Game-Theoretic Real Option Models And Their Application Really Optional? Timing and Agency Issues from a Real Options Perspective Hugh Courtney, University of Maryland Jayanti Kar, McKinsey & Company Track E Date Wednesday, Oct 17 Game-theoretic real option models take into account both Time 08:30 - 9:45 h exogenous market uncertainty and endogenous competitive Paper Session Room Marina 2 conduct uncertainty when determining the optimal timing of Session Chair TBD strategic commitment decisions. These models quantify the tradeoffs associated with making commitments today versus The Influence Of Governance Mechanisms On staging and/or postponing decisions to a later date. Nonetheless, Growth Option Value the extant literature is bereft of forward-looking, prescriptive case Todd Alessandri, Syracuse University studies that demonstrate how game-theoretic real option models Tony Tong, State University of New York-Buffalo can be developed and used in practice to guide real-world strategy choices. This paper seeks to fill this void by presenting two detailed Growth option value is a key component of firm value. We focus case studies from the mining and petrochemicals industries in on organizational mechanisms that influence growth option value. which such models were used to evaluate the timing of major Growth option investments represent a potential agency conflict commitment decisions. due to the uncertainty and discretionary nature associated with them. We argue that governance mechanisms will impact growth options investments, thereby influencing growth option value. It is Session 1080 hypothesized that incentive alignment and monitoring mechanisms Mergers & Acquisitions will produce varying effects on growth option value. We examine Track F Date Wednesday, Oct 17 these relationships using panel data for 370 firms from 1994-2001. Time 08:30 - 9:45 h In addition, we expect to examine the sensitivity of our findings, Common Ground Session room Executive Center 2b including testing the moderating effects of uncertainty to support an ‘option’ effect. Preliminary findings indicate stock option pay Facilitator TBD positively influences growth option value, while institutional ownership negatively impacts growth option value. Acquisition Versus Internal-Development As Entry Modes For New Business Development: The Deferral And Growth Options Under Sequential Dynamics Of Firm-Market Relevance Innovation Gwendolyn Lee, University of Florida Michael Leiblein, Ohio State University Marvin Lieberman, University of California-Los Angeles Arvids Ziedonis, University of Michigan This paper addresses a long-standing empirical puzzle in the This paper examines the application of real option theory to relationship between entry mode and firm-market relatedness. sequential investment decision-making. In an effort to contribute By making the distinction between entries inside versus outside a to the development of criteria that discriminate between firm’s primary business domain, we help to resolve the ambiguity investments that confer growth options from those that confer in prior work on choices of entry mode (acquisition versus internal deferral options, we introduce a conceptual model that explains development). By taking advantage of a longitudinal fine-grained technological adoption as a sequence of embedded options. Upon data set, we also develop measures of relevance that capture the
y ay d s e n d e w the introduction of each successive technological generation, a firm dynamics of firm-market relationship -- the degree of relevance, may either defer investment and wait for the arrival of a future the change in degree of relevance, and the duration of relevance. generation or invest immediately to obtain experience that provides For entries inside a firm’s primary business domain, acquisitions a claim on adoption of subsequent generations. We propose and are used to fill persistent gaps in the firm’s product portfolio. For test whether deferral and growth option value is dependent on entries outside a firm’s primary business domain, acquisitions are the magnitude, frequency, and uncertainty of inter-generational used to redeploy excess resources in exploring new trajectories. change, and the nature of rivalry. Who Leads And Who Follows In Merger Waves Agency As A Key Element Of The Real Options Gerry McNamara, Michigan State University 8:30 - 9:45 Strategy Jerayr Haleblian, University of California-Riverside Tandy Dilworth, University of Colorado Bernadine Dykes, Michigan State University Real options is in its infancy as a management approach to We draw from the behavioral theory of the firm to develop strategy, but research is starting to elucidate that a real options arguments about which organizational characteristics are likely to approach to investments allows firms flexibility and preferential influence whether a firm will act early or late in a merger wave
9 8 SMS 27th Annual International Conference 8:30 - 9:45 | wednesday sessions as well as how the positioning in the wave influences acquisition Predicting Market Exit On The Basis Of Market behavior. Our findings suggest that both the type of search a firm Entry Strategy is employing and firm size influence when an acquirer is likely to Valerie Claude-Gaudillat, Audencia act in a wave. Additionally, we find that at what point an acquiring Bertrand Quelin, HEC-Paris firm acts within a wave influences the types of acquisition actions While market entry has received considerable attention in the they take. Specifically, we find that position in the wave influences literature, few studies have established a relationship between the likelihood they will acquire a firm located near them, the type market entry, market development, and market exit. In this paper, of financing they use, and their acquisition speed. we build on the literature on entry strategies and knowledge Initial Public Offerings And The Acquisition Of building modes within a new market to predict a U-inverted Newly Public Firms relationship between the timing of entry and the timing of exit, i.e. early and late entrants will have the highest probability of exiting Roberto Ragozzino, University of Illinois - Chicago a new market. Market tenure should negatively affect market exit. Jeffrey Reuer, University of North Carolina We also predict a negative relationship between the knowledge Information asymmetries between buyers and sellers can create accumulated through internal modes and the probability of exiting inefficiencies in M&A markets and prevent acquirers from gaining the market. The model is tested in the US online brokerage market. access to valuable resources and capabilities via acquisitions. Implications for the literature on market entry and exit are discussed Entrepreneurial firms face similar problems in raising external in the last section. capital, due to the asymmetric information that separates them from prospective investors. In this paper, we bring together the Session 1154 strategy, financial economics, and entrepreneurship literatures and exploit the IPO context to examine the informational Strategy Restructuring characteristics of newly public entrepreneurial firms. We Track F Date Wednesday, Oct 17 construct hazard models that offer strong evidence that certain Time 08:30 - 9:45 h IPO characteristics signal the value of entrepreneurial firms and Paper Session Room Executive Center 2a attract M&A suitors. Session Chair Thomas Brush, Purdue University Increasing M&A Success: The Influence Of Perspectives On Cooperation With Market And Shareholder Heterogeneity And Strategic Non-Market Actors Reorientation: Foreign Portfolio Investment And Linda Walstra, Strategy Academy Domestic Relational Ownership In Japanese Industry Evidence shows that many M&A-ventures remain unsuccessful. Despite decades of extensive research into M&A-success factors, an Asli Colpan, Doshisha University incomplete understanding of the phenomenon still persists. This Toru Yoshikawa, McMaster University PhD-research adds a new success factor to the existing literature, Takashi Hikino, Kyoto University namely the way in which merging companies value and exercise This research focuses on the dynamic relationships between cooperation with both their market (e.g. buyers, suppliers) and shareholder characteristics and strategic choice in Japan’s electronics non-market actors (e.g. political, economic actors). Preliminary industry during recent recession. Foreign portfolio shareholders results of this research, which will be finalized in March. 007, represent market investors aiming at financial returns, while suggest that a divergence of perspectives between M&A-partners domestic institutional shareholding embodies relational investment on cooperation with market and non-market actors negatively whose primary objectives are strategic. Our statistical tests confirm influences the performance of the combined entity. that for strategic reorientations toward focusing and investment foreign owners exhibited consistent preference that is sensitive to Knowledge Transfers In Mergers And Acquisitions: the performance fluctuations of invested firms. Domestic investors The Roles Of Fear Of Exploitation And by contrast valued their transactional and business interest over Contamination their portfolio return; hence they showed strong preference for Paulina Junni, Swedish School of Economics and Business diversified growth and capital commitment. Our findings suggest Administration that heterogeneous owners with different investment goals Knowledge transfers play an important role in the creation of demonstrate their distinct preferences, while the top management synergies in mergers and acquisitions (M&As). In fact, acquisitions of the invested enterprises caters to the collective needs of the y ay d s e n d e w are often justified by accessing and creating new knowledge, shareholders. because they provide an opportunity for learning. Yet, surprisingly Performance Feedback, Slack, And The Direction little research has focused on the transfer of knowledge in the Of Diversification M&A context. To partly bridge this research gap, this paper aims to empirically test some propositions made in Empson’s (2001) case Dinesh Iyer, Ohio University studies of knowledge transfers in M&As: that the fear of being Thomas Brush, Purdue University exploited or contaminated by the other party will have a profound We propose to investigate the type of diversification a firm engages negative effect on the transfer of knowledge in acquisitions. in. We focus on the effects of performance feedback and slack as These hypotheses are tested on a sample of Finnish companies’ informed by the behavioral theory of the firm in explaining the 8:30 - 9:45 acquisitions in. 001-2004, and they are largely supported by the direction of diversification. We use a multinomial logit model to empirical analyses. determine the likelihood of acquisitions among U.S. manufacturing firms from 1984 to 1996. Our preliminary results indicate that related acquisitions are largely explained by performance feedback, while unrelated acquisitions are explained more by the shift-in-focus of
San Diego | October 14-17 2007 9 9 wednesday sessions | 8:30 - 9:45
attention between survival, aspirations, and slack. Problemistic Strategic managers need to understand which companies are likely search leads to related acquisitions for firms performing both to be boycotted by which stakeholder groups to better manage above and below aspirations while unrelated acquisitions are more strategic issues facing their firms. We apply social identity theory likely by firms performing above their aspirations. Also, firms do to identify which groups are likely to boycott in general, as well not seem to show characteristics of local and distant search when as boycott specific firms. Overall, our analysis of 27,722 individual performing below aspirations. evaluations of 59 companies suggests social identities based on gender, race, age and socio-economic status influence boycotting Corporate Governance And Strategy Formulation: behavior. Individuals are less likely to boycott companies about Exploring The Effects Of Directors’ Learning which they are knowledgeable and more likely to boycott Experiences On Firms’ Investment Strategy companies subject to organized boycotts. Additionally, we find Leonard Bierman, Texas A&M University interactions between specific social identities and common boycott David Sirmon, Texas A&M University types associated with strategic issues. Our research suggests that Donald Fraser, Texas A&M University social identity theory may provide insight into the mechanisms Michael A. Hitt, Texas A&M University affecting boycott support. Christopher Tuggle, University of Missouri Babu G. Baradwaj, Towson University Social Movements, Regulatory Politics, And Board of Directors (BoD) perform several functions within the firm. Technology Evolution We focus on the BoD’s strategy formulation function. We explore Kerem Gurses, IESE Business School-University of Navarra how board members’ professional knowledge, and prior board This case study of the evolution of technology in pay TV documents learning (inter-industry and intra-industry) affect strategic decisions how creation of a social movement and the emergent technology’s and actions, specifically focused on the aggressiveness of the firm’s interaction with regulatory powers can influence the technological investment strategy. Using attention-based theory and learning trajectory in an industry sector. I study how a social movement theory, we hypothesize and find support for the positive effect of started by TV broadcasters limited the growth of an emerging myopic learning experiences (other intra-industry board experience) technology, over the air pay TV, by its influence on the regulatory on the aggressiveness of the firm investment strategy, while inter- agency, but failed to thwart an alternative technology, cable TV, industry and professional training in law reduce this investment due to the initial lack of FCC jurisdiction in this new technology aggressiveness. The results contribute to the growing body of and the increasing positive public opinion. I argue that in highly literature relating BoD’s with the performance of corporations and regulated industries, social movements and regulatory politics are learning theory more generally. It also adds a new perspective to key to understand political causes of technology dominance. corporate governance research. Staying The Corporate Social Performance Course New Entrant Strategy: Market Entry And Following Mergers And Acquisitions Competition With An Arch-Incumbent Kimberly Ellis, Michigan State University Terence Fan, Singapore Management University Margaret White, Oklahoma State University By extending the extant literature from both corporate strategy Jill Hough, University of Tulsa and entrepreneurship, this paper proposes to examine the impact Trying to find consistent evidence about what leads to success in of market entry strategies of new industry entrants on their mergers and acquisitions (M&A) has proven daunting for strategy survival. By definition, new entrants do not share many contact researchers. King, et al. (2004) concluded in their meta-analysis that points with incumbents, and are subject to aggressive retaliation previous research provides little insight into what factors enhance at the outset. Recognizing that market structure presents both post-deal performance. Our paper takes a different view. Rather profit opportunities for and potential threats of competitive action than looking at what enhances performance, we examine what against new industry entrants, this paper investigates how these conditions help a firm to “maintain” position in a critical strategic conflicting influences combine to affect new entrant survival. area-corporate social responsibility (CSP). The premise is that for Specific implications of extant perspectives on new entrants, such as many strategically important areas, M&As should focus on staying those posed by multiple-market entries vis-à-vis an arch-incumbent, the course rather than value creation and improved performance. will be examined. Data on new entrants in the integrated and Our results indicate that in CSP, at least, the acquirer’s rating is deregulated scheduled airline industry in the European Union will more important than the target’s except when potential legal be used. issues loom because of the target’s CSP activities. y ay d s e n d e w Session 1267 Nonprofit Organizations As Nonmarket Producers: Their Strategic Options And InfluenceO n Market Non-Market Influences on the Strategies Implementation of Corporate Level Strategy Edward Desmarais, Salem State College Track F Date Wednesday, Oct 17 Howard Brodsky, CCA Global Partners Time 08:30 - 9:45 h Nonprofit organizations are quintessential nonmarket producers of Paper Session Room Nautilus 2 goods and services. Nonprofit economic models rely extensively on Session Chair Kimberly Ellis, Michigan State University third party payers (e.g., government, foundations, corporate and 8:30 - 9:45 individual sponsors) to fund activities traditional markets do not Who Boycotts Whom? Social Identities And address. Unlike traditional market exchanges, third party payers Strategic Issues are not the customers. In the case of social services (e.g., homeless Naomi Gardberg, City University of New York people), nonprofits are intermediaries between the payers and William Newburry, Florida International Business the recipients of the goods and services. Nonprofits are unique nonmarket organizations and have relationships, heretofore, not
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addressed in the nonmarket literature. Through the lens of resource yet most studies draw exclusively on the interpretations of top dependency, network, agency, stakeholder and political market executives, with no consideration of the role that middle managers theories, the paper examines nonprofit and nonmarket research play in shaping organizational interpretations. In this paper we streams to identify for-profit and nonprofit strategic options. These present a theoretical model of organizational interpretation that options have significant implications for nonprofit and for profit explains how interpretations of events – both market driven and non- organizations’ managers and society. market driven – differ by hierarchical level (vertically) and by stage of the interpretation process (horizontally). Cognitive psychology Session 1132 offers a theoretical framework for identifying how interpretations Profiting From The Bottom Of The Pyramid of the same event will likely be different for strategic and front- line managers, necessitating a translation or re-interpretation by Track G Date Wednesday, Oct 17 middle managers. We offer propositions regarding the specific Time 08:30 - 9:45 h interpretation role for middle managers at each stage. Paper Session Room Marina 4 Inside Greening: An Empirical Study Of Middle Session Chair TBD Managers’ Role In Proactive Environmental Turnaround Process In South Africa: Strategy Breaking The Ice Terry Porter, University of Maine Alexander Falkenberg, University of St Gallen This paper reports on an empirical study of middle managers’ role in Saleem Symalin, University of St Gallen/Asia Research Centre realizing environmental strategy. While recent research has shown that an upstream, proactive approach to environmental strategy South Africa has recently seen spectacular business failures such as can lead to the ‘win-win’ outcome of improved environmental and Retail Apparel Group despite a generally positive market environment. financial performance (Hart, 1997; Porter & van der Linde, 1995), To date, academic research has not investigated the turnaround little is yet known about precisely how companies develop resources process in South Africa. A Straussian grounded theory method based and capabilities for ongoing environmental improvement. This on 27 interviews with South African turnaround experts leads us to study takes a multilevel approach to better understand how middle conclude that the turnaround process in South Africa is comprised managers’ activities and attitudes affect bottom up environmental of three phases: a ‘recognition phase’, a ‘decline-stemming and strategy. Sixty four facilities in three ‘greening’ companies were negotiation phase’ and a ‘revitalisation and embedding phase’. We studied: multilevel regression results showed that middle managers conclude from the structure of the turnaround process that early do indeed make a significant difference to environmental strategy recognition systems on the management/Board level will have the realization, and that unexpected multilevel patterns of influence highest impact in reducing failure rates in South Africa. varied from one organization to another. Multinationals At The Bottom-Of-The-Pyramid: A Resource-Based Perspective On Cross-Sector Triggering A Proactive Change When Nothing Goes Collaborations Wrong: Process Of Building A Sense Of Urgency Sujin Han, Korea University Edgar Hutte, Bocconi University Eonsoo Kim, Korea University This study analyzes why and how multinationals collaborate with Kyeng-Eun Kim, Samil Pricewaterhouse Coopers Consulting nonprofit and public organizations when introducing new products A sense of urgency is prerequisite for any change, since it contributes and services to the poor at the Bottom-of-the-Pyramid (BOP). Taking to increasing readiness and decreasing resistances. However, most a resource-based perspective, the paper argues that multinationals research assumes that internal or external crisis is present at the form such cross-sector alliances to obtain resources and capabilities time of organizational change. We ask, ‘If there is little incentive that are not internally available. This research intends to build or crisis for a change, and the organization is producing steady new theory on cross-sector collaborations at the BOP and applies a performance, how is it possible to generate a sense of urgency multiple case study approach by analyzing several empirical cases of resulting in proactive change?’ We propose a process of model of multinationals in a variety of industries around the world. As such, it building a sense of urgency and analyze the process in a comparative does not only contribute to our theoretical and practical knowledge case study. We argue that, in order for a sense of urgency to be about doing business at the BOP and cross-sector alliances, but also established, aspiration level and cognitive map of employees extends the RBV tradition and research on strategic alliances. have to be changed simultaneously, which are influenced by top management’s envisioning and routine disruption respectively. Session 1058 ay d s e n d e w Proactive Change Sustaining Competitive Advantage Through Dynamic Adaptation Track H Date Wednesday, Oct 17 Time 08:30 - 9:45 h Deepak Sethi, Old Dominion University Paper Session Room Marina 3 William Judge, Old Dominion University Propensities of firms to cope with the continually changing Session Chair William Judge, Old Dominion University environment vary widely, and firms that consistently adapt to such changes, better and quicker than rivals, sustain their competitive Middle Managers And Organizational advantage. This study seeks to add to the dynamic capabilities 8:30 - 9:45 Interpretation: Towards A Middle Range Theory literature by positing the notion of dynamic adaptation. We present Tammy E Beck, University of Houston-Clear Lake a conceptual framework that can holistically view the sequencing, Donde A Plowman, University of Tennessee coordination, and orchestration of the numerous interlinked, intra- How organizations interpret events is seen increasingly as an firm processes that impact their adaptation capability. We then important area of study in the strategic management literature, illustrate the application of the framework through comprehensive
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case studies of two large, diversified rival firms that have consistently and also observes that absorptive capacity has no significant effect. exhibited widely varying dynamic adaptation capabilities, which We collected data from senior ICT representatives from eighty-six thus affected their inter se competitive advantage. Canadian subsidiaries of foreign owned firms that have recently experienced significant ICT transfers from abroad, mandated by the Session 1086 parent organization. The perceived success of the ICT knowledge transfer as well as the ICT adoption varied widely across these firms. Absorptive Capacity Our findings suggest that in a situation of substantial knowledge Track I Date Wednesday, Oct 17 tacitness, high levels of procedural fairness are critical to effective Time 08:30 - 9:45 h knowledge transfer and ICT adoption. Paper Session Room Executive Center 3a Session 1109 Session Chair Paul Drnevich, University of Alabama Strategy Practices Using Communities Of Practice To Build Absorptive Capacity Track J Date Wednesday, Oct 17 Time 08:30 - 9:45 h Chamu Sundaramurthy, San Diego State University Common Ground Session room Executive Center 3b Ann Welsh, University of Cincinnati Although management scholars, particularly organization theorists Facilitator Sari Stenfors, Stanford University and strategists have noted the value of communities of practice, Managerial Practices In Professional Service Firms: none have outlined how specific attributes of these communities A Strategic Approach contribute systematically to the knowledge creation process. In this paper we describe attributes of communities of practice and Søren Henneing Jensen, Copenhagen Business School examine how they can build learning meta-capabilities that enable Flemming Poulfelt, Copenhagen Business School firms to generate absorptive capacity a dynamic knowledge Sascha Kraus, University of Oldenburg capability fundamental for sustained competitive advantage. More Applying a resource based view this paper investigates managerial specifically, we demonstrate how the operational processes of practices in professional service firms (PSFs) and how these communities of practice develop three learning meta-capabilities: practices create capabilities and strategies within the PSFs. The receptivity, diffusion and creation. We offer a model depicting paper illustrates how PSFs through their managerial practices how peripheral contact between communities creates a dynamism attract, utilize and develop knowledge resources and how this facilitating knowledge flow and experimentation, leading to new leads to the emerge of certain strategies constituted by either resource configurations. Further, we identify how these meta- the resource input, the interaction with clients or the output to capabilities develop absorptive capacity in varying environmental the clients. Based upon this analysis, it is shown that by using the and performance contexts. concepts of managerial practices, we get a further understanding of how knowledge resources are being turned into competitive Knowledge Breadth Versus Knowledge Depth: advantages. The paper also discusses the links between a resource- Clarifying Competing Measures Of Absorptive based view, capabilities, and managerial practices. Capacity Michael Withers, University of Alabama Strategizing Capabilities: Conceptual And Paul Drnevich, University of Alabama Empirical Insights From A Multi-Method Study John Burr, Purdue University Sotirios Paroutis, Warwick Business School Absorptive capacity is a dynamic capability that may enable a firm to Studies suggest that the pace of change in organizations requires experience higher levels of innovation and performance. However, an emergent approach to strategy. It is also claimed that in dealing while recent research has made significant progress in attempting with these dynamic processes the roles of strategists are changing to clarify the construct, the literature continues to operationalize and so are their capabilities. However, our understanding of these it through competing measurement approaches. Specifically, there capabilities remains scarce. Using interview and survey data from appears to be an issue regarding whether, when, and under what a multi-business firm, this paper reveals the capabilities required circumstances absorptive capacity operationalizations refer to breadth by strategists during the strategy process and discusses how these of knowledge versus depth of knowledge. In this paper, we clarify this capabilities evolve over time. Findings indicate that strategists utilize issue by discussing the competing operationalizations and empirically three complementary sets of capabilities: technical, interaction, and y ay d s e n d e w examining the conditions under which each conceptualization may meta-level. This study also demonstrates that strategists in complex be most effective. The paper’s major contribution is to address this organizations, like the multibusiness firm, utilize recursive ways of conflict in the literature and bring clarity to the boundary conditions acting based on technical and analytical capabilities while at the and implications of the competing measures of absorptive capacity. same time developing adaptive activities based on meta-level skills. Effects Of Absorptive Capacity And Procedural Mapping Strategic Issues Interpretations: How Justice On ICT Knowledge Transfer In The MNE Executives Construe Critical Business Issues Vernon Bachor, University of Calgary Robert Wright, Hong Kong Polytechnic University Chun Ming (Nicholas) Cheung, Hong Kong Polytechnic
8:30 - 9:45 Alain Verbeke, University of Calgary This paper tests empirically the effectiveness of information University and communications technology (ICT) knowledge transfer and Strategic issues have important implications to organizational adoption in the multinational enterprise. The research supports the performance. More compelling is how these issues are interpreted proposition that perceptions of procedural fairness determine such by strategists during the work of strategizing. How they see, effectiveness, especially in cases of high tacit knowledge transfers, interpret and make sense of strategic issues provided the impetus
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for their strategic decisions and subsequent actions. We report on Session 1187 a preliminary study based on interviews with 15 General Managers Entrepreneurship Theory of a publicly listed company about how well they are dealing with Critical Business Issues facing their organization. Employing a clinical Track K Date Wednesday, Oct 17 psychological methodology, we were able to elicit senior executives’ Time 08:30 - 9:45 h theories-in-use and identify the core perceptual dimensions framing Common Ground Session room Marina 1 their sensemaking of strategic issues. Implications to theory building Facilitator TBD and strategy-as-practice research are discussed. How Do Entrepreneurs Attract (High Valuation Strategy As Practice In A Late Modern World: From From) Outsiders? Micro To Macro Gary Dushnitsky, University of Pennsylvania Yolanda Sarason, Colorado State University We investigate which actions entrepreneurs pursue to attract Anne Huff, Technical University of Munich outsiders. Popular entrepreneurial actions include (a) Disclosure Strategy as a field of study is receiving increasing criticism. One of the invention, and (b) a Contingent Payment Scheme offer attempt to refocus attention has coalesced around the idea of (e.g., salary deferral, royalty-based license). We identify four ‘strategy as practice’. We argue that the inclusion of this more stylized characteristics of entrepreneurial settings (information- micro level influence should be broadened to consider the macro asymmetries, weak invention protection, limited-wealth, and conditions of what is referred to as a ‘late modern world’ (Giddens, optimism), and explore their impact on entrepreneurial action. 1990; 1991). These conditions include: 1) increasingly blurred space/ Using a parsimonious formal model, we answer the opening time boundaries;. ) greater use of disembedding mechanisms; question and derive novel insights regarding entrepreneurs choices and 3) increasing importance of reflexivity. Propositions are and the idiosyncratic role of optimism. presented around the effects of late modernity on strategizing and organizational identity. We suggest that efforts to focus attention Contingency Modeling In Strategy: Use, Disuse, on strategy as practice at a micro level of analysis is more broadly Or Misuse applicable if it can be connected to insights into changes in the Brian Boyd, Arizona State University more macro environment. Katalin Haynes, Arizona State University Making Sense of Strategic Tools Usefulness: When Contingency models -- studying how the relationship between two Theories-in-Use Determine the Usefulness of variables are affected by a third or more variables -- are a core theme Theories of strategic management. However, most empirical studies focus on simpler main effect models. This paper presents the results of a Robert Wright, Hong Kong Polytechnic University content analysis on the use of contingency models among articles How useful are the strategic tools we teach in business schools published in SMJ between 1980 and 2005. in helping practicing managers make better decisions? Managers enrolled in a masters program in a large applied university were Explaining Lobbying With The Competence-Based required to carry out a strategic audit of a listed company using Theory Of The Firm thirteen strategic tools taught throughout a capstone strategy Martin Gersch, Ruhr-University Bochum course. Upon completion of the semester project, they were Christian Goeke, Ruhr-University Bochum interviewed using a cognitive mapping methodology to determine Joerg Freiling, University of Bremen how they made sense of the usefulness of each of the strategic Extant work on lobbying primarily focuses on who is lobbied and tools in helping them make better decisions. Results provide a strategies of exerting influence. More fundamentally, this proposal unique contribution to the strategic tools literature from a practice addresses the question of what drives firms to engage in lobbying perspective by eliciting cognitive frames of managerial sensemaking activities at all. One intention is to further anchor this ‘non-market about tools. Implications to business schools and strategy tools phenomenon’ in the scientific discourse of strategic management. makers are addressed in light of these findings. Lobbying can be explained very well with competence theories’ Strategy Practice In A Diversified Global Food MNC rationale, as especially path dependencies and resource/competence specificity cause organizational inertia and limited adaptability Kerrie O’Sullivan, University Of Limerick to changing environmental conditions. This is the common base James Cunningham, National University of Ireland-Galway for lobbying activities, since interfering in the evolution of such A macro focus on the process of strategy by the popular strategy conditions is the aim of lobbying. The propositions made in this ay d s e n d e w writers has led to a distinct lack of guidance in the strategy proposal were derived from fieldwork in the German healthcare literature on how to become a strategist and what type of micro sector in the context of its 2004 and 2006//2007 reforms. activities lead to successful strategising in organisations. This leads to the foundation of this paper, which examines the micro levels Competitive Behavior With Heterogeneous of strategy, by testing the integrated strategy practice model Firm Objectives: Entry And Exit Decisions Of purported by Whittington (2002) which focuses on the gaps in Entrepreneurs And Professional Managers the previous research in strategy, namely the workers, work, and Anthony Scime, Purdue University tools of strategy or the strategy practitioners, strategy praxis and Govert Vroom, Purdue University strategy practices. The primary focus of this paper is to examine Brian McCann, Purdue University 8:30 - 9:45 the fundamental existence of the integrated strategy practice This paper studies how competitive behavior is impacted by model through empirical examination of a Global Food MNC heterogeneous firm objectives. We argue entrepreneurs are also headquartered in Ireland. motivated by non-market influences, the psychic enjoyment of owning a business, while professional managers are primarily driven
San Diego | October 14-17 2007 1 0 3 wednesday sessions | 8:30 - 9:45
by profit maximization. Using data on 895 markets in the Texas hotel and stewardship to present a continuum of founder influence with industry from 1997 through. 005, we show how these different endpoints based on the firm-centered and self-centered CEO. Changes objectives influence the dynamics of entry and exit. in founder CEO attitudes and behaviors are investigated longitudinally with regards to compensation and administrative (agency) expenses. New Value Creation In The Resource-Based View: These differences are compared to firms run by non-founder CEOs How Transaction Costs And Property Rights Shape using a matched sample of S&P 500 firms. Entrepreneurship Kirsten Foss, Copenhagen Business School Firm-Level Entrepreneurship And Performance: A Nicolai Foss, Copenhagen Business School Meta-Analytic Investigation Of Moderators And Resources hold a number of attributes (i.e., functionalities, Measures Of The Entrepreneurial Orientation characteristics, uses, services), some of which may not yet have been Construct discovered by resource owners and entrepreneurs. Property rights Justin Davis, Ohio University are held over resource attributes. The value of resource attributes G Tyge Payne, Texas Tech University (and therefore overall resource value) is influenced by how well Literature in the area of firm-level entrepreneurship has received defined and enforced these rights are which in turn depends on an increasing amount of attention in recent years. The current transaction costs. Because they impact expected rewards, transaction study proposes a theoretical and empirical summary of research costs and property rights influence which resource attributes will in this area, with primary emphasis placed on moderators of the be discovered and exploited by entrepreneurs, that is, new value Entrepreneurial Orientation (EO)-firm performance relationship creation. Exploring the intersection of entrepreneurship, property and suggestions for improvements in the measurement of the EO rights, and experience yields new insights into the RBV analysis of construct. Empirical analyses focus on the dimensionality of the EO the determinants of resource value and into the understanding of construct and the impact of environmental dynamism and hostility resource ownership and the boundaries of the firm. on the EO-performance relationship. Analyses will also offer a new methodological approach to the analysis of moderating variables Session 1170 in meta-analytic study, providing insight into the examination Linking the Entrepreneur to New Venture of study-level moderators (as opposed to the traditional analysis Performance of study-characteristics). Suggestions for future research in this growing body of literature are provided. Track K Date Wednesday, Oct 17 Time 08:30 - 9:45 h Immigrant Entrepreneurs: Founding Team Paper Session Room Nautilus 1 Composition And Its Effects On Eventual Firm Performance Session Chair Jun Li, University of New Hampshire Anthony Sadler, University of Wisconsin-Madison Founding Team Characteristics, Environmental Today, immigrant-led enterprises are also found in an important Uncertainty, And New Venture Creation: A Study sector of the economy – high technology – as immigration policy Of Nascent Ventures has been adjusted in order to attract highly skilled workers from Jun Li, University of New Hampshire other countries. As one of the early attempts in tackling the Jianwen Liao, Illinois Institute of Technology strategic process of immigrant-led start-ups in high technology, this study investigates: 1) how highly skilled foreign-born This paper examines nascent ventures at their gestation process. By immigrant entrepreneurs assemble their founding teams and. ) integrating multiple theoretical perspectives, mainly the resource how the structuring of the founding teams impact these firms’ based view, upper echelons theory, and top management team performance. Grounded in institutional and learning theories, process literature, our study attempts to explore the relationships I argue that differential institutional constraints on immigrants between two important founding team characteristics – founding and non-immigrants lead to different founding team composition team heterogeneity and team compatibility and the likelihood of for immigrant entrepreneurs who start companies compared to success/failure of venture creation, as well as the moderating roles non-immigrants who start companies. Specifically, immigrant of environmental uncertainty. Specifically, we posit that the greater entrepreneurs derive more functionally diverse founding teams the degree of heterogeneity and compatibility of a founding and this leads to better firm performance. team, the greater the degree of likelihood of venture formation, especially under the uncertain environmental conditions. We test
y ay d s e n d e w our hypotheses using a unique longitudinal dataset of Panel Study Session 1198 of Entrepreneurial Dynamics (PSED). The study contributes to Non-Market Influences On The Creation And literature of both new venture formation and new venture teams. Protection Of Ideas Firm-Centered Versus Self-Centered CEOs: Track A Date Wednesday, Oct 17 A Longitudinal Study On the InfluenceO f Time 10:15 - 11:30 h Founder CEOs Common Ground Session room Executive Center 4 Rita Shea-Van Fossen, Ramapo College of New Jersey Facilitator Alfred Marcus, University of Minnesota Helaine Korn, City University of New York 8:30 - 9:45 Research has shown that firms run by a founder CEO perform better The Effects Of Embeddedness On The Transaction financially and have lower CEO salaries than firms run by non-founders. Of Mutual Funds A contrary view of founders has been seen in recent episodes of Chih-Pin Lin, Aletheia University malfeasance by founder executives. To understand these competing Hsin-Mei Lin, National Chinan University views of founder CEO influence, this study uses the theories of agency Yuan-Ju Tseng, Fuh Hwa Securities Investment Trust
1 0 4 SMS 27th Annual International Conference 8:30 - 9:45 | wednesday sessions
To complement the deficiency of financial economics in explaining the international services provided by university incubators to set asset management market, this research constructs a strategic model and strengthen their spin-off competitiveness in entering into for the sales of mutual funds in assets management market. We global markets. We reconstruct the most relevant initiatives made argue that investors perceive essential hazards in making decision available by the Italian university incubators. We obtain some to invest in mutual funds. To govern the transaction hazards and recommendations in practice encouraging academic entrepreneurs create transaction benefits, some social mechanisms must exist to leveraging international markets. The contribution goes into between investors and mutual funds, e.g. trust, information detail on Åeclose-ups’ of the essential elements which co-determine channel, and reciprocity. Relational embeddedness and structural the internationalization of academic spin-offs. Further empirical embeddedness breed trust, align information channel, and inspire studies are required. reciprocity and thus facilitate the transaction of mutual funds. Using data of 12,809 transactions between nonfinancial firms and Does Institutional Reform Of Intellectual Property mutual funds in Taiwan, we will test the effects of embeddedness Rights Lead To More FDI In Emerging Economies? on the likelihood of new transactions empirically. This research is Theodore Khoury, University of Texas-Dallas not only essential to theory development of strategic management Mike Peng, University of Texas-Dallas but also to management practice and financial market efficiency. Does institutional reform in the area of strengthening intellectual property rights (IPRs) lead to more FDI in emerging economies? A Cross-National Study Of Intellectual Property We address this crucial question, by leveraging the context of Right Laws And Firm Strategies A Science-Based institutional change for IPR reform in 18 Latin American and Industry Caribbean countries over a 14-year period (1990-2003). We use Johann Peter Murmann, AGSM - University of New South Wales the adoption of a major international patent treaty, the Paris A historical perspective on how firms acquire, leverage, and protect Convention on Industrial Property Rights, as a significant and technological competencies in different markets reveals that it is far uniform institutional change in IPRs. With this reform measure, from obvious that extensive patenting by firms will lead to long-term we analyze the post-adoption rate of inbound FDI, while also competitive success. German and Swiss firms in the early years of the considering the moderating effects of a nation’s prospective market synthetic dye industry created technological competencies that were opportunity and innovation-based activities. superior to their British and French counterparts precisely because they were initially not able to obtain patent monopolies in their Session 1250 home markets. Analyzing the history of the synthetic dye industry The Firm in the World from 1857-1914 and other historical examples, the paper develops strategies for how firms can develop organizational capabilities for Track E Date Wednesday, Oct 17 remaining competitive even after their patents expire. Time 10:15 - 11:30 h Common Ground Session room Executive Center 2b The Implications Of Increasing Market Scope In Technology Transfer Offices Facilitator Yves Doz, INSEAD Julie Feickert, University of Utah A Decision Model For The Global Sourcing Of Recently Technology Transfer Offices (TTO) have shifted from Services licensing technology only to large established firms and instead George Yip, Capgemini Consulting now also license technology to small firms and start-up firms. If This presentation will report on an in-depth study of the global these markets are sufficiently related, TTOs could potentially sourcing of services. The decision model in our study has at its centre, benefit from economies of scope in addition to increasing revenue, ‘Sourcing Options.’ The essence of the model is that for a given leveraging idle resources and the potential reputational benefits service activity, an organisation needs to evaluate whether and how of promoting entrepreneurial activities. However, if the markets to source it globally. The sourcing options constitute a classic 3 x 3 are not sufficiently related we would expect to see negative of location (on-, near-, or off-shore) and ownership (in-house, joint performance implications. This paper presents and tests hypotheses venture, or third party). In addition, these sourcing options need related to the level of resource efficiency and finds that for to be combined with choices on the nature of management and certain TTO resources, efficiency of use decreases as market scope coordination (e.g., loose or tight) to comprise the global sourcing increases. mode. We test this model from data collected in interviews and Academic Entrepreneurship In International surveys at several major multinational companies. y ay d s e n d e w Markets: The Challenge Of Italian University Subsidiary Capabilities In An Era Of Incubators Regionalization Carmela Elita Schillaci, University of Catania Alain Verbeke, University of Calgary Marco Romano, University of Catania Wenlong Yuan, University of Calgary Cristina M Longo, University of Catania We explore the effects of regional distance on the capabilities In the global economy the remarkable acceleration in scientific of multinational enterprise (MNE) subsidiaries, with an empirical process and advances in the latest technologies have created application to 50 foreign subsidiaries operating in Canada. We new opportunities for academic entrepreneurship. Market conclude that the regional distance (or lack thereof) of an MNE globalization is leading a large number of governments to adopt 8:30 - 9:45 parent to a host country affects the capabilities of its foreign competitiveness-enhancing policies that affect the country’s subsidiaries. Specifically, American MNEs, which are insiders in the industries productivity. In such context, academic entrepreneurship NAFTA zone, do face a liability of inter-regional foreignness as is a growing phenomenon. The aim of this study is to investigate compared to outsider MNE subsidiaries, in this case EU firms with the impact of university incubators programs on academic spin- operations in Canada. However, such liability tends to diminish offs internationalization. Our research question is focused on
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over time, as subsidiaries from outsider MNEs engage in learning economy. This investigation explores the societal contexts that have processes, and build up capabilities similar to those held by insider allowed this development to take place, and the impact they have subsidiaries. Such dynamics varies for the various value chain on competitive and corporate level strategies. Two aspects arose as activities considered. the most critical: the open-market strategy followed by Chile, which had better enabled Chilean companies to access external markets Delegation Across Borders: The Case Of during the last two decades, and the development of know-how Multinational Hierarchies related to food quality standards, demanded by foreign buyers and Yue Zhou, University of Michigan consumers, that has spread between food industries becoming a This study investigates the role of organization structure in key element in enhancing competitiveness and making Chile one accommodating firms’ international diversification strategies. of the most reliable suppliers in the Region. Based on data of organizational structure of U.S. multinational firms from 1993 to. 003, I find that, business units in countries Session 1123 with more skilled labor are delegated with more managerial responsibilities. On the other hand, units in countries with weaker Don’t Do to Me What I May Do to You: institutions are delegated with less managerial responsibilities. Imitation and Deterrence Furthermore, weak institutions have a more pronounced negative Track E Date Wednesday, Oct 17 impact on managerial autonomy for countries with more skilled Time 10:15 - 11:30 h labor. The results are consistent with theories that point to structure Paper Session Room Marina 4 as a design tool to achieve better adaptation and control within multinational firms through delegation. Session Chair Sharon D. James, Ohio State University Does Internationalization Interact With Product Imitation Versus Substitution: Technological Diversity To Explain Differences In Performance? Competition And Defense Of Technological Samia Belaounia, Groupe ESC ROUEN Innovations Against Imitation In spite of the growing globalization of the customers’ needs and the Francisco Polidoro, University of Texas-Austin transactions, diversification is commonly defined in a sectorial way. PuayKhoon Toh, University of Michigan How strongly does internationalization influence the relationship In this paper we examine the influence of competition between between product diversity and performance? To date, only a few technological innovations building on different knowledge on empirical studies deal with such a question. From. 000 to. 004, firms’ propensity to deter imitation. While highlighting the link the study of a sample composed of the CAC 40 groups shows that between the possession of inimitable resources and competitive internationalization moderates the negative relationship between advantage, prior research overlooked the tradeoff between product - diversity and financial performance without being able to imitation and substitution. When innovations of different types balance it. On the other hand, product - diversity does not appear compete in a product category, imitation deterrence may induce to influence economic profitability. This may be due to the absence rivals to create other types of innovations that can eventually of technical synergies or by their weakness in the total operating replace the firm’s innovation. We argue that such competition synergies. As product diversity does not affect economic profitability, contributes to diminishing firms’ incentives to deter imitation. We it would influence financial profitability through the risk premium also argue that it contributes to reducing firms’ incentives to deter required by the money lenders and cost of debt. The significant the imitation of innovations drawing on new knowledge, which results obtained with the market-to-book ratio go in this direction. albeit being potentially more valuable are more strongly affected by this type of technological competition. Individual And Organizational Determinants Of Innovation In Chile: A Multilevel Approach Competition, Learning, Or Legitimacy: Alvaro Espejo, University of Adolfo Ibañez Understanding Imitation In Adoption Of Websites Villena Marcelo, University of Adolfo Ibañez By Consumer Magazines This study uses multilevel techniques to analyze the effects of Daniel H Simon, Cornell University organizational and personal factors on innovative behaviors in Marvin Lieberman, University of California-Los Angeles Chilean organizations. We analyze the role of organizational When rivals adopt a new technology, a firm may imitate for several factors, such as entrepreneurial culture, awareness of competition reasons: 1) the rival adopters pose a competitive threat; 2) the firm and of clients, value for innovation, decentralized decision-making learns from rival adopters; and 3) rival adoption creates legitimacy y ay d s e n d e w and leadership style, and perceived organizational support, in the pressures. We discriminate among these explanations using data generation of innovative behaviors. We will also study how these on adoption of websites by consumer magazines during the early factors moderate the relationship between innovative behaviors Internet era. The results provide evidence that magazines imitated and individual factors, such as creative personality and citizenship rival adopters primarily because they learned from them. Our behaviors. We are gathering data from at least ten organizations, findings suggest the importance of learning-based imitation under with a minimum of 100 employees per organization. Preliminary conditions of substantial uncertainty. results, with the first organization completed, support a direct effect of individual and organizational factors. When Do Firms Voluntarily Disclose Strategic
10:15 - 11:30 Information About R&D Projects? Enabling Environments For The Chilean Agro- Industrial Development And Practices Of Strategic Sharon D. James, Ohio State University Management Some publicly traded firms face a dilemma in making R&D disclosures. By reducing investor uncertainty, greater disclosure Francisca Silva, Catholic University-Chile can help to lower financing costs. However, disclosure can The Chilean food processing industry has shown a high rate of unintentionally increase imitation risk by making R&D projects expansion, becoming one of the most promising sectors in the
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more transparent. This paper examines this ‘paradox of disclosure’ stand to harm forbearing allies and thus jeopardize the state of in a study of the conditions under which firms make voluntary forbearance. We theorize on how entrants penetrate forbearing R&D disclosures. Utilizing a random effects negative binomial markets, conjuncture on the consequence of entry to profit margins, model, I test this theory on a sample of 155 communications and discuss the implications for mutual forbearance theory. equipment and 165 pharmaceutical firms over the period 1991 to. 003. The results are consistent with the prediction that Domino Theory In Strategic Management firms make greater R&D disclosures when the potential benefits Tomi Laamanen, Helsinki University of Technology outweigh the strategic costs. The findings suggest that keeping Thomas Keil, Helsinki University of Technology R&D projects secret may be a winning strategy for firms that face Rita McGrath, Columbia University greater imitation risk. In order to understand the dynamics of the creation of sustainable competitive advantage, we analyze the evolution of the software The Importance Of Imitation Lags: Expropriability industry in the United States from 1980 to 2004. We examine the And Innovation product-market strategies, acquisition and alliance strategies, Pia Hurmelinna-Laukkanen, Lappeenranta University of and their combined long-term performance implications for the Technology population of over 1400 software firms in the United States. Based The potential of competitors to capture the essential knowledge on our analysis, we propose the concept of Domino Strategy that of the firm and its possibilities to prevent it have an effect on the involves multiple coordinated strategic moves through which profit margins and incentives to invest in innovation. Therefore, expanding firms utilize their strong positions in complementary examination of expropriability issues, the ability of non-inventing segments to enter new segments and one by one and eliminate companies to extract information about innovation, is relevant competition in them. We find that firms can create and leverage in strategy research. These issues are approached in this study these complementarities either internally or through acquisitions drawing propositions from prior research and theory. As a result, and alliances. Our paper contributes to a novel complementarity- the relationship of appropriability and expropriability is clarified based perspective of diversification. and basis for empirical studies is provided. Subsequently, this study contributes to understanding of strategic knowledge Agglomeration Effects And Pricing Response To Entry management and protection. Brian McCann, Purdue University Govert Vroom, Purdue University Session 1124 In contrast to the traditional approach of attempting to explain Entry and Reaction to Entry or demonstrate the how, when, where, and why of incumbents cutting price in the face of entry, we investigate whether firms Track E Date Wednesday, Oct 17 may have an incentive to raise price in this situation. Drawing from Time 10:15 - 11:30 h agglomeration theory, which describes the benefit from co-locating Paper Session Room Marina 2 with competitors, and using a unique data set of Texas hotels, we Session Chair Govert Vroom, Purdue University find that establishments price higher when facing entrants who are more likely to generate agglomeration externalities, namely larger The Strategic Determinants Of Tardy Entry: Is and high-resource entrants. Moreover, we find that this association Timeliness Next To Godliness? is stronger for establishments that have greater recent experience Luca Berchicci, Ecole Polytechnique Federale de Lausanne with entry. Andrew King, Dartmouth College Christopher Tucci, EPFL Session 1141 Previous research has considered extensively the causes and effects Linking Resources to Sustained of market entry order and timing. It has neglected, however, the Performance timeliness of such entry – the degree to which a firm delivered a Track E Date Wednesday, Oct 17 new product on the date it had set for its release. In this article, we Time 10:15 - 11:30 h begin to fill the need for such research by evaluating some strategic Paper Session Room Nautilus 1 explanations for why a firm might miss a scheduled entry date. We then test whether such tardy entry influences sales performance in Session Chair Thomas P. Moliterno, University of South Carolina the new market. Strategic Assets, Institutional Environments, ay d s e n d e w Entry And Its Impact On Mutual Forbearance And Film Performance: A United States-French Theodore Waldron, University of Georgia Comparison Gideon Markman, University of Georgia Allegre Hadida, University of Cambridge Mutual forbearance theory explains that incumbents enjoy This article combines the New Institutional Economics (NIE) and attractive profit margins by curtailing hostility. Barriers to entry Resource-Based View (RBV) to explore the relative importance of support forbearing market conditions by warding off most, but strategic assets in explaining movie performance across institutional not all potential entrants. The theory under-specifies how entrants environments. A structural equation model is developed and exploit the tacit rules of engagement that characterize forbearing tested in the USA and France from 1988 to 1997. Results reveal the 10:15 - 11:30 markets. This conceptual essay offers a framework to extend mutual mediating role of production budget and different hierarchies of forbearance theory. We explain that incumbents maintain mutual assets in the two countries, with the influence on performance of forbearance to keep margins elevated, but the motivation to lead actors’ track record central in the USA and that of directorsÅf preserve forbearance also limits their repertoire of actions against track record core in France. This difference echoes discrepancies entrants. For instance, when incumbents strike at intruders they in the U.S. and French institutional environments, and points
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to coherent systems of cinema production, consumption and Session 1205 evaluation in the two countries that NIE or RBV alone would not Input (and Output) Factors: have revealed. Economic Perspectives The Role Of Resources And Capabilities In Value Track E Date Wednesday, Oct 17 Appropriation Time 10:15 - 11:30 h Niklas Hallberg, Lund University Paper Session Room Seabreeze John Gibe, Lund University Session Chair Paul Drnevich, University of Alabama The matter of who appropriates the economic value created by a firm’s resources and capabilities has remained largely unresolved Why Firms Make Unilateral Investments Specific To in strategic management. The aim of the paper is to highlight Other Firms: The Case Of OEM Suppliers some of the shortcomings of established strategic management Kang Min-Ping, Shih Hsin University theory in explaining value appropriation, outline key examples of Joseph T Mahoney, University of Illinois-Urbana Champaign value appropriation mechanisms, and empirically illustrate the link Danchi Tan, National Cheng-Chi University between these mechanisms and specific firm-level resources and This research paper examines why and under what conditions a capabilities. Results show that particular resources and capabilities firm will make unilateral relationship-specific investments to their affect value appropriation through increased control, information, transaction partners. We test empirically our developed theory and switching costs. The results imply that commitment to in the context of Taiwanese suppliers of original equipment resources and capabilities facilitating value appropriation through manufacturers (OEMs). We suggest that firms are more likely to elevated control, information and switching costs can constitute an make unilateral relation-specific investments when (1) transactional alternative avenue for firms to reach competitive advantage. hazards are mitigated and (2) the investment yields values for other transactions with the same partners and for third transaction The Concept And Empirical Measurement Of The parties. Competitive Advantage Period: A Kolmogorov- Smirnov Approach Resources, Capabilities, And Performance Andreas Bausch, University of Jena Heterogeneity Thomas Fritz, Jacobs University Paul Drnevich, University of Alabama With this paper we aim at testing whether performance differences Aldas Kriauciunas, Purdue University between firm are sustainable and if yes, at quantifying the competitive Mark Shanley, University of Illinois-Chicago advantage period (CAP) – the number of subsequent years during Thomas Brush, Purdue University which a firm can on average sustain a superior competitive position A common issue in strategy research involves determining potential resulting in superior economic performance. Based on a sample sources of inter-firm performance differences. Research on this issue of 3,208 firms from 64 industries (four-digit standard industry predominately argues that competitive advantage is attributable classification), we find on average a CAP of seven to eight years. This to variation in resources and capabilities. However, this relationship result confirms that in general a certain sustainability of competitive is difficult to establish theoretically and support empirically. advantages is achieved. Nevertheless, it underlines at the same time This study addresses that gap by theoretically establishing, and that competitive processes seem to erode competitive advantages empirically examining how ‘zero-order’ ordinary and ‘first-order’ relatively fast. Furthermore, we show that both the length of the dynamic capabilities, and their heterogeneity, contribute to CAP and its variability differs strongly across industries. However, the inter-firm performance differences. Results confirm that both length of the CAP is on industry level significantly influenced by the ordinary and dynamic capabilities are associated with superior chosen performance measure. firm performance, but fail to support common presumptions of the necessity of heterogeneity. Therefore these findings question Strategic Alignment And Organizational Change: A one core assumption of RBV, and may hold implications for related Preliminary Test Of The V-P-C Framework research. Thus, this study’s major contribution is to address current Thomas P. Moliterno, University of South Carolina conflicting arguments regarding capability heterogeneity versus Christopher Zatzick, Simon Fraser University commonality. The Value, Price, and Cost (VPC) framework recently has been suggested as a theoretical lens through which to view and Dancing With The Stars: The Interplay Between y ay d s e n d e w analyze sustained differences in firm-level performance. To date, Strategy And Finance this potentially valuable framework has received theoretical Herbert Kimura, Mackenzie Presbyterian University specification, and some limited empirical examination, but the Leonardo Basso, Mackenzie Presbyterian University model has not been validated through empirical analysis. In this Eduardo Kayo, Mackenzie Presbyterian University paper, we report a study that uses the VPC framework to examine Considering a possible alignment and an appropriate coordination whether alignment between efficiency-oriented change and an between finance and strategy, we suggest a new perspective for organization’s strategy results in greater performance returns to analysis of competitive advantage and value creation: the assets and change. The findings of this study are informative regarding the attitudes approach (AAA). We include resources and capabilities in
10:15 - 11:30 change/performance relationship, and represent an early empirical the concept of assets and we incorporate aspects related to attitudes application and validation of the VPC framework. As such, the study as relevant factors in the establishment of competitive advantage. reported here suggests substantial directions for future research The inclusion of attitudes as a mechanism linked to competitive both applying and testing the VPC framework. advantage makes behavioral aspects as valuable as resources and capabilities in the study of strategy. Besides, regarding the financial theory, the discount rate of cash flows can become dependent not
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only on the sensibility of the cash flows in relation to risk factors, auto-parts industry. Our data reveal that the existence of vertical but on the attitudes towards risk and on the assets such resources alliances inhibits the development of horizontal alliances, but only and capabilities. when technological uncertainty is relatively low. When components are subject to higher technological change, those two types of The Mechanics Of Substitution alliances do not seem to significantly affect one another. Amit Jain, INSEAD Karel Cool, INSEAD The Choice Among Acquisitions And Alliances This paper explores the concept of substitution. It first defines the Versus Internal Development: The Role Of concept from the lens of economics, marketing and strategy, and Imitation And Experience highlights differences. Second, it shows that factor side substitution Valerie Moatti, ESCP-EAP is not independent of product market substitution. Factor price This paper examines how firms choose among acquisitions, alliances changes flow through and lead to substitution in product markets. or internal development when they find it necessary to expand Product substitution, in turn, has a reverse flow through effect their activity within their own industry. We suggest that mergers on factor prices and demand. Development of this flow through & acquisitions and alliances formation are influenced by both concept shows that resource based competitive advantage in internal and external factors. More precisely, we investigate the abstraction of product markets may not be sustainable, and vice role of imitation and experience as distinct learning mechanisms, versa. Both environmental and firm internal criteria, and their both separately and simultaneously. Using isomorphism theoretical effects on one another need to be taken into consideration background, we show that the choice of expansion mode is highly sustainable competitive advantage. Finally, the paper lists the influenced by competitor moves. We confirmed most of our key factors influencing the willingness of managers to engage in hypotheses empirically with a sample of 83 firms from the retail substitution. industry from 1984 through 2003. Our results also show that imitation mechanism differ whether we consider M&As or alliances. Session 1275 Resource-Based Explanations Of Make Or Ally Mode Of Expansion And Vertical Scope Decisions: The Moderating Role Of Environmental Track E Date Wednesday, Oct 17 Uncertainty Time 10:15 - 11:30 h Werner Hoffmann, Vienna University of Economics and Paper Session Room Marina 3 Business Administration Kerstin Neumann, Vienna University of Economics & Business Session Chair Administration Performance Implications Of Dual Sourcing: Gerhard Speckbacher, Vienna University of Economics and Managing The EfficiencyA nd Adaptability Trade-Off Business Administration Carmen Weigelt, Rice University This paper argues that resource based theory complements the MB Sarkar, University of Central Florida traditional propositions of TCE concerning boundary choices of firms in two ways. First, resource attributes are important to assess Although an integral part of firm strategy, dual sourcing has the value generating potential of ‘make or cooperate’ decisions and received little attention in the firm boundaries literature. This paper therefore their inclusion can significantly extend the explanatory explores how dual sourcing impacts performance. We argue that a power of models based exclusively on TCE variables. Second, we firmÅfs level of outsourcing places it in the midst of a performance argue that the (moderating) effects of environmental uncertainty paradox wherein it faces a trade-off between increasing efficiency can be better understood using RBT while TCE highlights the effects and losing adaptability in customer service. Our findings reflect this of behavioral uncertainty. We test our hypotheses using a sample of performance trade-off: initially outsourcing yields efficiency gains 167 integration/ collaboration decisions by automotive suppliers. that, however, occur at a diminishing rate as outsourcing increases. In contrast, outsourcing hurts adaptability. This performance trade-off is, however, mitigated by a firmÅfs market exploration. Session 1158 Our setting is outsourcing of information technology for Internet Strategic Adaptation to the Environment banking. Our data is both archival and based on two surveys Track F Date Wednesday, Oct 17 conducted a year apart with the same U.S. banks. Time 10:15 - 11:30 h Buyer-Supplier And Supplier-Supplier Alliances: Do Common Ground Session room Marina 1 ay d s e n d e w They Reinforce Or Undermine One Another? Facilitator TBD Sergio Giovanetti Lazzarini, IBMEC Danny Pimentel Claro, Ibmec Sáo Paulo Struggling For Supremacy In Institutional Luiz Mesquita, Arizona State University Competition: How The United States Automobile Research has emphasized the inter-organizational learning that Industry Re-Constructed Product Safety occurs at the horizontal level and generates positive vertical Simona Giorgi, Northwestern University alliance spillovers. Other researches propose instead a negative Edward Zajac, Northwestern University interplay: when crafting vertical alliances, for instance, buyers may This study investigates the competitive interplay between external 10:15 - 11:30 inhibit the formation of horizontal alliances as a way to preserve stakeholders and corporations in the context of product safety their bargaining power vis-á-vis suppliers. We analyze whether in the automobile industry. We show how entrepreneurs of the interaction between vertical and horizontal alliances depends the consumer movement deftly framed and established auto on a particular contingency: uncertain technological change. We safety as a legitimate problem and gained political support. We empirically test the hypotheses using survey data from the Brazilian then explain how the U.S. auto makers, despite initial setbacks
San Diego | October 14-17 2007 1 0 9 wednesday sessions | 10:15 - 11:30
in promoting an alternative frame, subsequently succeeded in arises from organizational dysfunction create a fundamental developing a repertoire of rhetorical and practical solutions that tension in organization theory. Substantial research has examined effectively ‘normalized’ and ‘de-radicalized’ the issue in the media related issues including the spread of bureaucracy, the adoption and the political environment, transforming the problem into of specific organizational practices and how organizational change a technical issue that signaled business as usual. Our analysis of affects survival, but there has been surprisingly little research on the the re-construction of auto safety highlights that competition and value or dysfunctional nature of ongoing consistency in following strategy issues apply to firms’ non-market environments, as well as rules for decision making. This paper develops measures based on their traditional business environment. the definition of consistency as close adherence over time to a set of simple rules for conducting business. We explore the sources of Hysteresis And The Flexibility Of Multinationals In consistency and test whether greater consistency is a beneficial Reacting To Uncertainty high point in organizational development or reflects Emerson’s Shyam Kumar, City University of New York notion of a ‘hobgoblin of little minds.’ We argue that compared to domestic firms, multinationals are likely to exhibit lower levels of hysteresis, and are likely to react more The Dynamics Of Intended, Emergent And Realized fluidly to changes in uncertainty. Multinationals can shift resources Strategies In SMEs to other markets and scale back operations in the face of increased Karl-Heinz Leitner, ARC Systems Research GmbH uncertainty. In contrast domestic firms do not have this flexibility, The paper studies the nature of strategy process and its impact on and may be constrained to maintain their scale of operations in firm performance using a longitudinal study of SMEs in Austria. order to cover fixed costs. As a result, multinationals may also be In two surveys in 1995 and 2003 data on the strategic behavior better positioned to capture upside gains while avoiding downside and performance of the same group of 91 firms was gathered. losses in a particular market when compared to domestic firms. In contrast to other studies the strategic making mode was not Empirical results support these propositions. only assessed by a self-assessment of the managers but by the analysis of strategic content. Based on four competitive strategies, Shaping The Context For Organizational Learning: emergent and deliberate strategies were identified using criteria Corporate Alignment Initiatives, Environmental for intentions, formalization and activities in the corresponding Munificence, And Firm Performance field. The aim is to identify determinants for effective emergent Florian Hotz, University of St Gallen and implemented strategy formation over the period observed Sebastian Raisch, University of St Gallen considering a set of strategy process design factors. Jörg Schläpfer, University of St Gallen The paper highlights organizations’ dynamic alignment moves that Session 1073 influence organizational learning processes, and their performance CEO Compensation effects in different external contexts. Our conceptual argument posits that the success of exploration- or exploitation-oriented alignment Track F Date Wednesday, Oct 17 activities depends on the intensity of change and is moderated by Time 10:15 - 11:30 h different levels of environmental munificence. In contrast to previous Paper Session Room Executive Center 2a studies, we rely on a multi-layer conceptual model that incorporates Session Chair Julian Lowe, University of Ballarat concrete and manageable corporate alignment initiatives. We furthermore propose a quantitative and longitudinal field study to Strategic Leadership, Performance, Industry extend existing empirical studies’ static and often narrow scope. Dynamics, And CEO Turnover Parallel Paths: How Top Executive Movement Julian Lowe, University of Ballarat Shapes The Market Evolution Of Firms Lili Pi, University of Ballarat This paper looks at the impact of entrepreneurial and corporate Charles Williams, Duke University leadership styles on the performance of Chinese companies and Samina Karim, Boston University the turnover of their CEOs. CEO turnover is determined by firm This paper studies how the movement of executives between units performance, corporate governance and their ‘fit’ with the strategy and levels shapes the evolution of firms. To understand how the and organization of the business (Henderson et al.. 006). The pattern of executive movement will shape market entry and exit, research confirms the impact of industry type and performance on we develop a theoretical approach that combines an attention- CEO tenure and identifies Åeentrepreneurial’ CEOs as an important based view of the firm with an evolutionary logic. We propose sub-group who have to meet strict performance criteria that horizontal movement of executives between business units y ay d s e n d e w will increase variation through recombination of information, Heterogeneity In Executive Compensation: Where managerial skills, and knowledge. We predict that increased You Work Versus Who You Are variation in the firm will lead to subsequent innovative market Alison Mackey, Texas A&M University entry. On the other hand, we predict that vertical movement of Heterogeneity in executive compensation practices persists widely executives to and from the corporate level will strengthen a firm’s both within and between industries. Two broad explanations of selection environment and increase exit. We test these hypotheses the heterogeneity in executive compensation can be identified: (1) on a sample of firms in the health and pharmaceutical industry. differences between firms–‘where you work’ and (2) differences between executives–‘who you are’. Using a matched-longitudinal 10:15 - 11:30 High Point Or Hobgoblin? Consistency And Performance In Organizations firm-executive dataset with over 1110 executives from S&P 1500 firms with measures for compensation, career and educational Scott Rockart, Duke University background as well as biographical information, the extent to Will Mitchell, Duke University which heterogeneity in executive compensation is due to ‘where Max Weber’s argument that organizations benefit when they operate you work’ versus ‘who you are’ is estimated. ‘Where you work’ is consistently and Robert Merton’s counter-point that consistency found to be more important than ‘who you are’ in determining
1 1 0 SMS 27th Annual International Conference 10:15 - 11:30 | wednesday sessions executive compensation differentials. Implications for this result the same time, we find that transformational CEOs’ impact on the are discussed. firm performance in SMEs was stronger when CEOs are the founders of the firm or are long tenured. All these findings demonstrate the A Woman’s Worth: Composition Of Compensation importance of considering conditional variables when examining Packages For Male And Female Top Executives CEO leadership’s impact on firm outcomes. Erika James, University of Virginia Peggy Lee, Arizona State University Strategic Renewal: An Evolutionary Perspective Christine Shropshire, Arizona State University Patrick Gibbons, University College Dublin Do women executives receive the same pay as their male Patrick McEvoy, University College Dublin counterparts? What accounts for this difference? Has this wage-gap This study examines the strategic renewal process in a bank over narrowed over time? While previous studies continue to show that a thirty year period. Specifically it addresses how evolutionary a wage gap exists, there has been a lack of theoretical development processes influenced the management of key strategic initiatives to explain and parse out these persistent differences. We attempt over the period. It concludes by highlighting how senior managers to fill this gap by drawing from the extensive gender literature can influence the evolutionary process within an organisation. to develop hypotheses that are based on theories of comparable worth, human capital, and organizational context. Furthermore, Strategic Process: Organisational Innovation, we have constructed a unique dataset that includes all of the top Technical Innovation, And Renewal executives of the top 1,000 largest firms in terms of revenues from Rafael Ramirez, University of Oxford 1990 to. 003. This panel dataset allows us to include contextual Marc Thompson, Oxford University factors, as well as consider a temporal perspective on gender-based Eric Allen, European Patent Office pay inequity. Leo Roodhart, Shell International This paper analyses with a process view of strategy the 10 year CEO Compensation After Refocusing: The Impact history of the gamechanger process in Shell - comparing it with Of Refocusing Intensity And Contextual Factors similar processes in other organisations. It argues that the Seemantini Pathak, Arizona State University gamechanger process is an organisational innovation, not mereley Robert Hoskisson, Arizona State University a means to produce technical innovations, and that organisational Agency theory-based research has identified governance problems innovations enable the technical innovations upon which strategy as an important theoretical antecedent to refocusing (also renewal depends. known as corporate restructuring). However, there has been little empirical investigation of how refocusing affects subsequent firm Getting Inside Your Competitor’s Head governance. This proposal using normative and behavioral agency Hugh Courtney, University of Maryland theory suggests that as a firm reduces its scope (measured by firm John Horn, McKinsey & Company divestiture intensity), firm risk gets shifted to top managers. We Jayanti Kar, McKinsey & Company posit that refocusing firms, desirous of achieving strategy change Companies are often surprised by unforeseen competitor moves and good performance, try to overcome managerial risk aversion that undermine their own strategies. These competitor moves by reducing the risk borne by CEOs, in part, through executive are hard to predict since firms are heterogeneous, endowed with compensation. Additionally, we suggest that the relationship different resources and capabilities and managed by decision- between divestiture intensity and CEO compensation is moderated makers with different incentives and biases. Nonetheless, lessons by the composition of the board of directors, technological from the resource-based view of the firm, agency theory, and opportunity and type of post-refocusing diversification strategy. behavioral economics can help companies better understand their heterogeneous competitors and the moves they are likely to Session 1215 make. Companies that embed these lessons in their competitive Senior Management Challenges intelligence activities are more likely to ‘get inside their competitors’ heads’ and avoid competitive surprises. Track H Date Wednesday, Oct 17 Time 10:15 - 11:30 h Session 1093 Paper Session Room Executive Center 3a Creation of Knowledge In Organizations Session Chair Hugh Courtney, University of Maryland Track I Date Wednesday, Oct 17 Time 10:15 - 11:30 h
Transformational CEOs And Firm Performance: ay d s e n d e w The Case In SMEs And Moderating Role Of CEOs’ Paper Session Room Nautilus 2 Positions Session Chair Corey Phelps, University of Washington Yan Ling, George Mason University Zeki Simsek, University of Connecticut Explorative-Exploitative Search And Knowledge Michael Lubatkin, University of Connecticut/EM Lyon Creation: A Contingency Perspective John Veiga, University of Connecticut Jatinder Sidhu, Erasmus University-Rotterdam While empirical research focusing on large public organizations This paper examines how the technology environment moderates has been equivocal about whether transformational CEOs play an the impact of local exploitative and non-local explorative search 10:15 - 11:30 important role in affecting firm-level performance, our findings on knowledge creation. It particularly argues that a firm’s ability suggest that this equivocality may have more to do with the sample to produce valuable inventions is contingent on the extent to frame studied than with the strength of the theory per se. We which temporal and experiential search entails proximal or distal argue that transformational CEOs’ impact on firm performance is knowledge elements given the technology life-cycle stage. The particularly salient in small- to medium-sized private firms (SMEs). theoretical ideas are tested using time-series patent data from Results based on 142 SMEs offered support for our prediction. At cross-sections of firms in the paint and semiconductor industries.
San Diego | October 14-17 2007 1 1 1 wednesday sessions | 10:15 - 11:30
The empirical results by and large support the initial predictions. Session 1108 The findings highlight that it is not only imperative for firms to have Strategic Planning an appropriate exploration-exploitation balance at a point in time, they also need to be adept at adjusting this balance longitudinally Track J Date Wednesday, Oct 17 as a technology paradigm unfolds. I discuss the implications of this Time 10:15 - 11:30 h study for research and practice. Common Ground Session room Executive Center 3b Facilitator Sotirios Paroutis, Warwick Business School Speed Of Socialization In Organizational Knowledge Creation: A Model And Preliminary Managerial Constraints: Aligning Strategic Results Planning And Environmental Awareness Georg Von Krogh, ETH Zurich Nicholas O’Regan, Bristol Business School Ikujiro Nonaka, Hitotsubashi University Abby Ghobadian, Henley Management College Zeynep Erden, ETH Zurich Martin Sims, University of Hertfordshire Organizational knowledge creation theory explains the process David Gallear, Brunel University of making available and amplifying knowledge created by The results of this study indicate that strategic planning in individuals as well as crystallizing and connecting it to an manufacturing SMEs is positively linked to overall corporate organization’s knowledge system. A research question concerns performance and that the degree of awareness of external the speed with which knowledge is created in the organization. environment threats is associated with the degree of overall In the article we review some of the central elements in emphasis on the strategic planning process. The findings suggest organizational knowledge creation theory, develop propositions the need to align the degree of emphasis on strategic planning on the factors that impact on socialization speed in knowledge and environmental awareness. From a practitioner perspective, creation in a group and on the relationship between socialization the analysis suggests that increased strategic focus improves speed and the quality of tacit knowledge shared. As a last step performance and that increased environmental awareness at we test the validity of the propositions, discuss implications for the strategic planning level will improve financial performance research and management practice. significantly. However diminishing returns appear to operate with regard to environmental awareness and firms should establish the Learning From Start-Ups: Corporate Venture point at further increases in environmental awareness do not lead Capital And Exploratory Knowledge Creation to increased benefits. Anu Wadhwa, EPFL Corey Phelps, University of Washington Real Political Options For The Public Affairs Suresh Kotha, University of Washington Consultant Corporate Venture Capital (CVC) -- minority equity investments by Marcus Osborn, R&R Partners established companies in privately held start-ups -- has become an Richard Osborn, Wayne State University important strategic tool for large companies. Firms often pursue CVC Margaret Smoller, Wayne State University investing as a way to learn about novel technologies. Although CVC The purpose of this paper is to suggest how a government relations is inherently exploratory and has been found to enhance investing consultant can use real political options as a decision making tool to firm innovation, research has not established when CVC investing help clients analyze proposed public affairs actions. A real political results in exploratory innovations (i.e., innovations that embody option may be seen as a political, strategic or operational decision relatively novel knowledge). We argue that three characteristics of that creates the opportunity to make a subsequent beneficial choice an investing firm’s portfolio of start-ups will enhance its creation followed by a political influence action to anticipate or respond to of exploratory knowledge. Using longitudinal data on a panel of a change in public policy. For this opportunity to be ‘in the money’ 36 telecommunications equipment manufacturers, we find that the firm must (a) act on the new information and emergent events, investing firms produce more exploratory knowledge when their and (b) determine that the subsequent action can have some portfolios include start-ups that are diverse, mature, and possess beneficial effect for an issue in a ‘policy window.’ codified knowledge. Scenario Planning Interventions In Organizations: Knowledge Creation In Alliance-Portfolios The Causes Of Success And Failure Shalini Manrakhan, University of Mauritius George Wright, Durham University Srilata Zaheer, University of Minnesota We demonstrate that analysis of the answers given by workshop Akbar Zaheer, University of Minnesota
y ay d s e n d e w participants in pre-intervention interviews can be helpful in Researchers have posited that a portfolio of strategic alliances can determining the receptiveness of an organization to a subsequent enhance performance, but little is known about knowledge creation scenario intervention. We theorise that strategic inertia - in the portfolio over and above the effect of dyadic relationships. We characterized by coping patterns of bolstering failing strategy, suggest that firm-specific knowledge (technological knowledge held procrastination (over a strategic dilemma) and buck-passing (the by the firm unshared with its alliance portfolio) as well as portfolio- responsibility for the dilemma’s resolution), is the result of the specific knowledge (the portfolio’s knowledge that is not shared by psychological attenuation of the perceived level of environmental the firm) will both positively influence knowledge creation in the threat to the organisation, culminating in unconflicted adherence focal firm. We test these hypotheses on a sample of 304 firms in to the currently-followed strategy. We contend that the expression 10:15 - 11:30 the biotechnology and pharmaceutical industry, using patents as of such coping behavior is antithetical to a subsequent successful the dependent variable. We find firm-specific unique knowledge scenario exercise since, if the exercise fails to identify an unconflicted appears to be always beneficial, while there are limits to the extent strategic alternative, the sharp focus of the scenarios on futures that firms can benefit from portfolio-specific unique knowledge. We unfavourable to business-as-usual strategy will re-activate the get ambiguous results for knowledge-bridging alliances. cognitive stress-reduction mechanisms.
1 1 2 SMS 27th Annual International Conference 10:15 - 11:30 | wednesday sessions
Scenario-Based Decision Making And Cognitive Capabilities And Technological Change: The Style: A Research Agenda Role Of Science-Based Versus Business-Based Maureen Meadows, Open University Entrepreneurs In New Venture Performance Luis Alberto Franco, University of Warwick Alva Taylor, Dartmouth College In recent years, scenario planning approaches have enjoyed Miguel Angel Campo-Rembado, Dartmouth College wide acceptance among practitioners and academics as decision Drawing on the idea that capabilities are context specific to the support aids in the strategic decision making process. Recently, competitive environment, this paper argues that entrepreneurial managerial cognition scholars have suggested that differences scientists and business entrepreneurs will react differently to in group composition and cognitive styles will have an impact on venturing opportunities afforded by technological change. It also the effectiveness of scenario-based decision making processes. suggests that the value of capabilities of venture founders, and new This paper examines the potential role of cognitive style during ventures performance, will differ based on the technological change the different stages of a scenario-based decision making process, faced at venture entry. We show that talented entrepreneurial proposes a research design to conduct a formal evaluation of scientists are more likely to enter prior to a dramatic technological such a process from a cognitive style perspective, and discusses its shift, and talented business entrepreneurs are less likely to enter. potential implications for the research and practice of scenario- Ventures founded after a technological shift are worth more, based decision making processes. but have lower success rates. Finally, we find opposing results of capabilities on venture value and performance. Factors Affecting The Use Of Contingency Planning By Business Strategists The Effect Of Faculty Founders On New Andrew Sangster, Argosy University Technology Venture Performance This study examines the use of contingency planning devices (and Anne Fuller, Georgia Institute of Technology associated thought processes) in the formation and evolution of This proposal is an exploratory analysis of the growing phenomena business strategies. It predicts a positive relationship between this of U.S. academic entrepreneurship. Building on prior work type of strategizing, and the subject planner’s perceived uncertainty demonstrating the embryonic state of science and engineering about a competitorÅfs initiatives and responses, mediated by research that is licensed through the university (Jensen & Thursby the level of the perceived competitive threat. This perceived 2001), we extend this framework to include university inventions uncertainty is further hypothesized to be a positive function of the commercialized by a new technology venture (NTV). We posit planner’s experience with the competitor, and an inverse function that the presence of faculty inventor patents and founders will be of the planner’s perception of the efficacy of shareholder wealth beneficial to the NTV. This supposition is tested with a uniquely maximizing at the competitor. This study attempts to illuminate constructed dataset representing a variety of university and further the Åffogging’ effect of agency problems upon the process industry settings. Preliminary results indicate faculty patents in the of business strategizing. early stages of a new venture increase the likelihood the firm will stay independent and private. The presence of faculty founders Session 1173 however significantly increases the probability of acquisition by an University Entrepreneurship incumbent firm. Track K Date Wednesday, Oct 17 Building Legitimacy For Novel Technologies: The Time 10:15 - 11:30 h Case Of WARF And Human Embryonic Stem Cells Paper Session Room Executive Center 1 Sanjay Jain, University of Wisconsin-Madison Session Chair Anne Fuller, Georgia Institute of Technology We highlight the role that institutional entrepreneurs play in building legitimacy for novel technologies. To illustrate this role, My Star Is Not Your Star: Sources Of Value Creation we carry out an in-depth study of the Wisconsin Alumni Research In University-Firm Research Collaborations Foundation’s (WARF) initiatives to support the emergence of human Constanta Mindruta, University of Illinois-Urbana Champaign embryonic stem cell technology. Our narrative account reveals that institutional entrepreneurs often take on three sub-roles; that of University research-based technological opportunities are often protector, propagator and influencer of the nascent technology. created and exploited through joint corporate and academic We highlight how the underlying identity of the institutional entrepreneurship activities such as university-industry research entrepreneur, i.e. their private and societal interests, can influence collaborations. What determines a match between academic how they engage in these roles, which in turn impact the trajectory scientists and firms that seek to apply basic research for
of the technology. The implications of these findings for the ay d s e n d e w commercialization? To answer the question, this paper models literature on institutional entrepreneurship and the emergence/ firm-scientist alliance formation as an endogenous matching evolution of new technologies are discussed. process driven by the synergy in knowledge-creation capabilities of the partners. The model is then applied to empirically investigate whether and when attributes such as knowledge breadth and depth, scientific and technological capabilities are complements or substitutes in knowledge creation. The paper contributes by specifying a theoretical framework which describes
the formation of university-firm alliances. It also identifies the 10:15 - 11:30 set of complementary capabilities required for a successful cross- boundary research alliance.
San Diego | October 14-17 2007 1 1 3 wednesday sessions | 11:30 - 12:30
Session 1806 The Current State and Future Direction of David Baron is the David S. and Ann M. Non-Market Strategy Scholarship Barlow Professor of Political Economy and Strategy in the Graduate School of Track A Date Wednesday, Oct 17 Business, Emeritus, at Stanford University. Time 11:45 - 12:45 h He received a BS from the University of Panel Session Room Grande Ballroom Michigan, an MBA from Harvard University, Moderator and a Doctorate in Business Administration Michael Lenox, Duke University from Indiana University. In 2005 he was Panelists awarded an honorary doctorate degree by the Katholieke David Baron, Stanford University Universiteit Leuven. His principal research interests have been David Vogel, University of California-Berkley the theory of the firm, the economics of regulation, mechanism Witold Henisz, University of Pennsylvania design and its applications, political economics, and nonmarket Andrew King, Dartmouth College strategy. His current research focuses on political economics and strategy in the business environment. Challenges arising from globalization, corporate scandals, and degradation of the natural environment, among others, have David Vogel is Professor of Business dramatized the strategic importance of issues often considered and Political Science at the Haas School outside the traditional competitive domain. Increasingly, firms are of Business, University of California, recognizing that their “non-market” strategies to address these Berkeley, and holds the Solomon P. Lee challenges are critical to their ability to create and sustain competitive Distinguished Professorship in Business success. In response to these trends, a rich academic literature has Ethics. His research has focused on the emerged on the topic of non-market strategy. This literature has politics of business, the comparative intellectual roots stretching back decades and has been pioneered by study of consumer and environmental scholars investigating business behavior in areas where markets are policy, trade and environment, usiness ethics, and corporate inchoate or simply do not exist. In this symposium, we will hear from social responsibility. Vogel has been editor of the California leading scholars of non-market strategy. Each speaker will discuss Management Review since 1982. David Vogel received a BA the state of scholarship in their own areas of expertise and propose in political science from the City College of New York and a where scholarship should go in the future. Ph.D. in politics from Princeton University.
Witold J. Henisz is an Associate Professor of Management at the Wharton School, The University of Pennsylvania. He received his Ph.D. in Business and Public Policy from the Haas School of Business at University of California, Berkeley in 1998 and previously received a M.A. in International Relations from the Johns Hopkins School of Advanced International Studies. His research examines the impact of political hazards on international investment strategy. He also is currently a principal in the risk management consultancy The Probity Group, which provides executives with insight into high- impact risks to business and government activity.
Andrew A. King is a Marvin Bower Michael J. Lenox is an Associate Professor Fellow at the Harvard Business School of Business at the Fuqua School of and an Associate Professor at the Tuck Business, Duke University and holds a School of Business. Prior to joining secondary appointment as Associate Tuck, he was a faculty member at the Professor of Environmental Policy at the Stern School of Business at NYU. He y ay d s e n d e w Nicholas School of Environment, Duke has held visiting positions at both University. He currently serves as the area the University of Michigan and MIT. coordinator for the newly formed Strategy He has authored numerous publications on technology Area and is the faculty director and founder of Duke’s new strategy, environmental management, and industry self- Corporate Sustainability Initiative. He received his Ph.D. in regulation. Andrew King holds a PhD in management Technology Management and Policy from the Massachusetts from the Massachusetts Institute of Technology, an MS in Institute of Technology in 1999 and the degrees of Bachelor mechanical engineering from the University of California and Master of Science in Systems Engineering from the at Berkeley; and a BA in mechanical engineering from
PLENARY University of Virginia. Brown University.
12:45 - 13.45 LUNCHEON ON THE BAYVIEW LAWN
1 1 4 SMS 27th Annual International Conference A Billinger, Stephan - 49 Chuang, Cheng-Min - 44 Bilsdorfer, Paul - 65 Cillo, Paola - 79 E Birkinshaw, Julian - 92 Cinici, Maria Cristina - 90 Achtenhagen, Leona - 40 Bititci, Umit - 90 Ciuchta, Michael - 59 Agarwal, Rajshree - 13, 21-22, 35, 46, Blettner, Daniela - 37, 57 Clark, Kevin - 58 Ebrahimi, Bahman - 67 Aggarwal, Vikas - 71 Boal, Kimberly - 25 Clarke, Ruth - 66 Eckhard, Bjoern - 40 Ahuja, Gautam - 18, 22, 65-66, Bogner, William - 63 Clarke, Thomas - 65 Eesley, Charles - 13, 96 Alessandri, Todd - 13, 98, Boivie, Steven - 13, 38 Claro, Danny Pimentel - 109 Eisend, Martin - 97 Alhorr, Hadi - 25, 72 Bonardi, Jean-Philippe - 26, 49 Claude-Gaudillat, Valerie - 99 Eisenhardt, Kathleen - 49 Ali-Vehmas, Timo - 3, 48 Bosch, Frans A.J Van Den - 55, 76 Clougherty, Joseph - 13 Ejakova, Anna - 87 Allatta, Joan - 43 Boudreau, Kevin - 28, 49 Coates, Theresa - 59 Elfring, Tom - 95 Allen, Eric - 111 Bouncken, Ricarda - 57 Coff, Russell - 44 Elia, Gianluca - 1 Alscher, Alexander - 67, 75-76 Boyd, Brian - 13, 103 Cohen, Linda M - 13 Elliott, TJ - 22 Alvarez, Sharon - 13, 62 Braeunlich, Christian - 70 Cohen, Susan - 13, 79 Ellis, Kimberly - 13, 54, 100 Alvarez-Garrido, Elisa - 72 Bratkovic, Tina - 83 Coles, Martin - 3, 14, 24 Ellis, Shmuel - 10, 51 Ambos, Bjorn - 13, 31, 92 Brauer, Matthias - 76 Collins, Jamie - 79 Eminet, Aurélien - 30 Ambos, Tina Claudia - 13, 31, 92 Brenner, Barbara - 31 Colombo, Massimo - 21, 83 Ener, Hakan - 78 Andersen, Torben Juul - 68, 87 Bresser, Rudi K F - 8, 13, 62 Colpan, Asli - 99 Engelen, Andreas - 35 Andrews, Tim - 30 Brettel, Malte - 35 Connelly, Brian - 36 Ensign, Prescott C - 35 Angelis, Jannis - 40 Bridwell-Mitchell, Ebony - 49 Cool, Karel - 8, 109 Epstein, Marc - 73 Angwin, Duncan - 3, 13, 19, 21, 38, 54 Brodsky, Howard - 100 Cooper, Arnold - 83 Erden, Zeynep - 112 Antoncic, Bostjan - 83 Bromiley, Philip - 13, 18, 56, 77 Cording, Margaret - 75 Erickson, Scott - 43 Antunes, Don - 82 Brown, Jimmy - 90 Corredoira, Rafael - 93 Espejo, Alvaro - 106 Arino, Africa - 78 Brueller, Nir - 10, 51 Costanzo, Laura - 59 Ethiraj, Sendil - 50 Artz, Kendall - 13, 79 Brunninge, Olof - 40, 90 Courtney, Hugh - 98, 111 Etzion, Dror - 11, 73 Arvidsson, Niklas - 92 Brush, Thomas - 99, 108 Croson, David - 81 Ates, Aylin - 90 Bruton, Garry - 19, 55 Csaszar, Felipe - 43 F Audretsch, David - 3, 13, 21, 23 Bryant, Peter - 22 Cuervo-Cazurra, Alvaro - 13, 55-56, 86 Autio, Erkko - 23, 46 Bryce, David - 63 Cunningham, James - 103 Fahrni, Fritz - 80 Autry, Chad - 95 Burkay, Ulas - 55 Cuypers, Ilya - 11, 13, 29 Falkenberg, Alexander - 101 Aviad Pe’er - 45 Burr, John - 102 Cuypers, Youtha - 11, 29 Fan, Terence - 100 Ayuso, Silvia – 80 Burton, Richard - 81 Faraci, Rosario - 1 Butler, Frank - 88 D Feickert, Julie - 105 Byosiere, Philippe - 33 B Felin, Teppo - 60 Büchel, Bettina – 82 Dacin, Tina - 13, 34 Ferlic, Flora - 74 Fern, Michael - 81 Bachor, Vernon - 102 C Dagnino, Giovanni Battista - 62, 90 Baik, Yoon Suk - 26 Dalziel, Margaret - 49 Fernandez, Daniel - 96 Baines, Paul - 77 Damaraju, Naga Lakshmi - 62 Ferriani, Simone - 58, 94 Baliga, Ram - 82 Caldart, Adrian - 64 Dameron, Stephanie - 27 Ferrier, Walter - 13 Ballinger, Gary - 88 Campbell, Benjamin - 13, 45-46, 70 Danneels, Erwin - 21 Fiegenbaum, Avi - 13, 63 Bamford, Chuck - 44 Campo-Rembado, Miguel Angel - 113 David, Parthiban - 1 Fiss, Peer - 13 Banerjee, Preeta - 70, 93 Canales, J Ignacio - 42 Davis, James - 87 Fitza, Markus - 65 Baptista, Rui - 35, 94 Caner, Turanay - 79 Davis, Justin - 104 Fjeldstad, Øystein - 55 Barkema, Harry - 10, 13, 18, 29 Cao, Qing - 38, 70 Day, Marc - 75 Florence, Robert - 36 Barney, Jay - 19-20, 62 Capron, Laurence - 1 Dean, Alison - 54 Floyd, Steven - 11, 18, 42, 49 Baron, David - 3, 114 Cardinal, Laura - 13, 81 DeBethizy, Don - 91 Fortune, Annetta - 87 Barr, Pamela - 13, 18, 21-22 Carpenter, Mason A - 13, 77 Decker, Carolin - 75 Foss, Kirsten - 104 Baron, David - 114 Castaner, Xavier - 38 Deeds, David - 13, 68 Foss, Nicolai - 104 Barron, David - 91 Cattani, Gino - 58 Delmar, Frédéric - 59 Fossen, Rita Shea-Van - 104 Bartkus, Viva - 87 Certo, Trevis - 36 Desmarais, Edward - 100 Franco, April - 46 Bartl, Daniel - 46 Chaddad, Fernando - 37 Dess, Greg - 20, 22 Franco, Luis Alberto - 113 Bas, Tomas Gabriel - 90 Chakrabarty, Subrata - 53, 97 Devaughn, Michael - 45 Fraser, Donald - 100 Basso, Leonardo - 64, 108 Chakravarthy, Bala - 47 Devers, Cynthia E - 77 Freiling, Joerg - 103 Bauer, Ulrich - 81 Chandra, Ramdas - 66 Dhanaraj, Charles - 13, 44 Frost, Jonathan - 74 Bausch, Andreas - 108 Chau, Vinh - 85 Dhaou, Soumaya Ben - 50 Fuller, Anne - 113 Beck, Tammy E - 75, 101 Chaudhuri, Saikat - 29 Dilworth, Tandy - 98 Furr, Nathan - 63 Belaounia, Samia - 106 Chen, Dong - 13, 26 Dimov, Dimo - 70 Furrer, Olivier – 38 Bell, John - 26 Chen, Eric - 51 Dixon, Sarah - 75 Benito, Gabriel R G - 78 Chen, Guoli - 1 Doh, Jonathan - 13, 20, 25, 96 G Benner, Chris - 91 Chen, Jennifer - 79 Doz, Yves - 20, 23, 48, 62, 105 Benson, David - 71 Chen, Michelle - 37 Draper, Denis W - 61 Gabrielsson, Jonas - 30 Berchicci, Luca - 107 Chen, Ming-Jer - 63 Dreyer, Bent - 53 Galal, Kerim - 82 Bergh, Donald - 13 Chen, Pao-Lien - 69 Drnevich, Paul - 102, 108 Gallear, David - 112 Bertoni, Fabio - 83 Chen, Stephen - 67 Durand, Rodolphe - 13 Ganco, Martin - 35 Bertram, Florian - 46 Chien, Ting-Hua - 38 Durand, Thomas - 13, 18, 27 Garcia-Castro, Roberto - 80 Bettis, Richard - 37, 57 Chintakananda, Asda - 70 Dushnitsky, Gary - 103 Gardberg, Naomi - 18, 100 Bhambri, Arvind - 13, 90 Chiu, Shih-chi - 71 Dussauge, Pierre - 38, 49 Garnsey, Elizabeth - 94 Biedermann, Annette - 62 Choi, Young Rok - 40 Dyer, Jeff - 58, 63 Garraffo, Francesco - 69 Bierman, Leonard - 100 Christmann, Petra - 75 Dykes, Bernadine – 98 Garrette, Bernard - 38
San Diego | October 14-17 2007 1 1 5 Gates, Stephen - 73 Hikino, Takashi - 99 Karaöz, Murat - 35 Lednor, Peter - 22 Gebauer, Judith - 86 Hillman, Amy - 13, 36 Karim, Samina - 110 Lee, Dong-Hyun - 79 Germain, Christophe - 73 Hinterhuber, Andreas - 41, 52 Kasabov, Edward - 32 Lee, Gwendolyn - 13, 98 Gersch, Martin - 103 Hitt, Michael A - 6, 100 Katila, Riitta - 22, 51 Lee, Hun - 64 Ghertman, Michel - 8, 27, 63 Hoang, Ha Thi - 78 Kavadis, Nikolaos - 41 Lee, Jay - 64 Ghobadian, Abby - 79, 112 Hoffmann, Werner - 109 Kayo, Eduardo - 64, 108 Lee, Michael Byung-Yoon - 50 Giangrande, Manuela Batul - 56 Holburn, Guy - 13, 49, 96 Kedar-Levy, Haim - 29 Lee, Mina - 1 Giao, Paulo - 91 Holcomb, Tim - 36 Keil, Thomas - 45, 107 Lee, Peggy - 13, 44, 111 Gibbons, Patrick - 111 Hollandts, Xavier - 88 Kelly, Aidan - 71 Lee, Seung-Hyun - 26 Gibe, John - 108 Homberg, Fabian - 52 Kennerley, Mike – 86 Lee, Yu Shih - 34 Giorgi, Simona - 109 Horn, John - 111 Kenney, Martin - 20 Leiblein, Michael - 13, 52, 62, 98 Girod, Stéphane - 91 Horsburgh, Stuart - 78 Kerrie O’Sullivan - 103 Leitner, Karl-Heinz - 36, 110 Giuseppina, Simone - 50, 67 Hortovanyi, Lilla - 80, 94 Kesner, Idie - 13, 25, 61, 85 Lengnick-Hall, Cynthia - 75 Glick, William H - 61 Hoskisson, Robert - 38, 111 Keung, Edmund - 40 Lenox, Michael - 13, 96, 114 Gnyawali, Devi - 58, 80 Hotz, Florian - 110 Khanna, Tarun - 37 Leo, Francesco De - 74 Godfrey, Paul - 96 Hough, Jill - 100 Khoury, Theodore - 13, 56, 105 Leone, Maria Isabella - 93 Goeke, Christian - 103 Hover, David - 82 Kim, ByoungJo - 79 Leroy, Frederic - 43 Gomez, Pierre Yves - 30, 88 Howton, Shawn - 96 Kim, Changsu - 82 Lester, Richard - 36 Gonzalez-Alvarez, Nuria - 28 Howton, Shelly - 96 Kim, Eonsoo - 101 Levitas, Edward - 13, 45 Gonçalves, Francisco - 1 Hsieh, Kai-Yu - 43, 65 Kim, Gyeong Mook - 86 Lewin, Arie - 37 Gonçalves, Vitor - 1 Hu, Helen Wei - 97 Kim, Heechun - 44 Li, Dan - 44 Gottschalg, Oliver - 72 Huang, Jian - 10, 54 Kim, Kyeng-Eun - 101 Li, Haiyang - 55 Gove, Steve - 13, 53 Huesch, Marco - 77 Kim, Stephen In-Ho - 50 Li, Han-Lin - 55 Goya, Aramburu - 92 Huff, Anne - 103 Kimura, Herbert - 64, 108 Li, Jun - 104 Grand, Simon - 46 Hugh O’Neill - 70 King, Andrew - 13, 107, 114 Li, Sali - 57 Greve, Henrich - 63 Hung, Richard Yu Yuan - 50 King, David - 75 Li, Shaomin - 53 Grilli, Luca - 83 Hurmelinna-Laukkanen, Pia - 107 Klarner, Patricia - 91 Li, Xiaoying - 36 Grimpe, Christoph - 93 Huse, Morten - 30, 39 Klingebiel, Ronald - 32 Li, Xin - 87 Gronhaug, Kjell - 53 Hutte, Edgar - 101 Knoll, Sebastian - 41, 66 Li, Yong - 71 Grönquist, Daniel - 90 Huy, Quy - 13, 42 Knott, Paul - 44 Liao, Jianwen - 104 Gudergan, Siegfried - 56 Hébert, Louis - 13, 35, 77 Knyphausen-Aufsess, Dodo zu - 70 Lieberman, Marvin - 22, 86, 98, 106 Guedri, Zied - 54, 88 Ko, Yu-Chien - 55 Lien, Bella Ya-Hui - 50 Gueldenberg, Stefan - 36, 81 I Koch, Jochen - 97 Lifschitz, Arik - 45 Guerras-Martin, Luis Angel - 40, 65 Koch, Michael - 57 Lin, Chih-Pin - 92, 104 Guettel, Wolfgang H - 59 Kohlbacher, Florian - 81 Lin, Hsin-Mei - 92, 104 Gunn, Jane - 67 Iglesias, Ana Elisa - 63, 94 Konlechner, Stefan - 59 Lindeque, Johan - 31 Gupta, Anuja - 51, 75 Inganäs, Martin - 80 Korn, Helaine - 104 Lindskog, Christina - 83 Gurd, Bruce - 67 Ireland, Duane - 62, 94 Kosonen, Mikko - 20, 23, 48, 62 Ling, Yan - 111 Gurses, Kerem - 11, 100 Iriyama, Akie - 54, 78 Kotha, Suresh - 112 Liu, Heng-Yih - 92 Isaksen, John - 53 Kownatzki, Maximilian - 91 Livengood, R. Scott - 95 H Islam, Mazhar - 97 Kramer, Mark - 84 Longo, Cristina M - 105 Iyer, Dinesh - 68, 99 Kranenburg, Hans Van - 13, 68 Lord, Michael - 13, 84, 91, 97 Kraus, Sascha - 102 Lorenz-Orlean, Stefanie - 68 Haapaniemi, Tomi -, 55 J Krenn, Susanne - 41 Lorenzoni, Gianno - 94 Hadida, Allegre - 107 Kriauciunas, Aldas - 108 Lorinkova, Natalia - 10, 28 Haefliger, Stefan - 69 Kriger, Mark - 3, 13, 20, 22 Low, Kathleen Yi Jia - 31 Jaeger, Peter - 69 Hagedoorn, John - 68 Krogh, Georg Von - 69, 112 Lowe, Julian - 110 Jain, Amit - 109 Haleblian, Jerayr - 98 Kumar, Shyam - 110 Lowendahl, Bente - 3, 32 Jain, Sanjay - 113 Haley, Usha - 27 Kunc, Martin - 89-90 Lu, Li-Yin - 43 James, Erika - 111 Hallberg, Niklas - 108 Kuo, Yu-Ming - 50 Lubatkin, Michael - 49, 111 James, Sharon D - 106 Han, Bong Heui - 10, 40 Kwee, Zenlin - 76 Luca, Luigi Mario De - 51 Janney, Jay - 53 Han, Sujin - 101 Lucea, Rafael - 49 Jansen, Justin - 34, 55 Han, Zheng - 89 Luethge, Denise - 33 Jensen, Robert - 81 L Hansen, Mark - 13, 88 Lumineau, Fabrice - 39 Jensen, Søren Henneing - 102 Harrigan, Kathryn - 47 Lund, Mark - 31 Jia, Nan - 1 Harris, Dawn - 13 Laamanen, Tomi - 74, 107 Lunnan, Randi - 31, 58 Johnson, Richard - 13, 39, 71 Harris, Jared - 20, 77 Lacoste, Denis - 89 Lyles, Marjorie - 13, 18, 26, 44, 49 Harrison, Richard - 53 Johnson, Scott - 29, 88 Lamb, Will - 82 Jonathan O’Brien - 13 Hatch, Nile - 57 Lamont, Bruce - 54 M Hatfield, Donald E - 68, 82 Jones, Marc - 1 Lampert, Curba M - 66 Haunschild, Pamela - 38 Jonsson, Anna - 11, 33, 41 Lange, Dieter - 94 Haynes, Katalin - 103 Judge, William - 13, 53, 101 Lange, Donald - 38 MacBryde, Jillian - 90 Heavey, Ciaran – 71 Junni, Paulina - 99 Lanza, Andrea - 50, 67 MacIntosh, Robert - 45 Hébert, Louis - 77 Jäger, Urs Peter - 68 Laverty, Kevin - 13 Mackey, Alison - 110 Heimeriks, Koen - 43 Lavie, Dovev - 13, 78 Mackey, Tyson - 89 Heinemann, Florian - 35 K Lavigne, Stéphanie - 89 Maclean, Donald - 45 Henisz, Witold - 13, 96, 114-115 Lawton, Thomas - 85 Madelon, Camille - 40
Henkel, Joachim - 80 Lazzarini, Sergio Giovanetti - 13, 109 Madhavan, Ravi - 54, 78 Kale, Prashant - 26 Hermens, Antoine - 74 Lechner, Christian - 13, 23, 69 Maggitti, Patrick - 58 Kandel, Anatoly - 10, 32 Hess, Andrew - 45, 57 Lechner, Christoph - 13, 18, 20, 22, 91 Mahon, John F - 97 Kar, Jayanti - 98, 111
1 1 6 SMS 27th Annual International Conference Mahoney, Joseph T - 86, 108 N Perrini, Francesco - 13, 73 Robins, James - 13, 31, 77 Mair, Johanna - 11, 13, 25 Perry, Lee - 88 Robinson, Anthony - 42 Major, David - 65 Perryman, Alexa - 88 Roche, Frank - 71 Mandal, Abhijit - 82, 90 Nachum, Lilach - 13 Peruffo, Enzo - 93 Rockart, Scott - 36-37, 110 Mangum, Stephen L - 61 Nadolska, Anna - 42 Phelps, Corey - 111-112 Rodriguez, Miguel Angel - 80 Mannor, Michael - 33 Nag, Rajiv - 43, 58 Phene, Anu - 57 Romano, Aldo - 1 Manrakhan, Shalini - 112 Nakielski, Monica - 86 Phillips, Ian - 94 Romano, Marco - 13, 105 Manral, Lalit - 86 Nambisan, Satish - 51 Pi, Lili - 110 Rompas, Sotiris - 40 Marcel, Jeremy - 88 Ndofor, Hermann - 45 Pichler, Hannes - 81 Roodhart, Leo - 111 Marcelo, Villena - 106 Nell, Phillip - 30 Pils, Frithjof - 88 Rosenzweig, Philip - 74 Marchegiani, Lucia - 93 Nelson, Patricia - 13, 50 Pinsker, Robert - 53 Rost, Katja - 1 Marcus, Alfred - 13, 96-97, 104 Nemanich, Louise - 10, 34 Pirolo, Luca - 83, 93 Rothaermel, Frank - 21, 45, 57 Maritan, Catherine - 13, 36, 67 Neumann, Kerstin - 109 Plambeck, Nils - 56, 72 Rothberg, Helen - 43 Markman, Gideon - 107 Newbert, Scott - 58 Plowman, Donde A - 101 Rottner, Renee - 70 Martin, Jeffrey - 72 Newburry, William - 13, 18, 30, 100 Plummer, Lawrence - 45 Roveda, Claudio - 11, 28, 49 Martin, Xavier - 3, 11, 13, 29 Nicholas O’Regan - 79, 112 Polidoro, Francisco - 106 Roy, Aradhana - 13 Martinez, Candace - 55 Nielsen, Bo - 68 Ponzi, Leonard J - 18 Rufin, Carlos - 13, 37, 96 Martinez, Veronica - 86 Nieto, Mariano - 28 Porter, Terry - 101 Rumelt, Richard - 74 Marxt, Christian - 80 Nilsson, Carl-Henric - 83 Portugal, Pedro - 35 Rummer, Marco - 65 Mata, Jose - 35 Nonaka, Ikujiro - 112 Posen, Hart - 50 Ruth, Derek - 68 Matta, Elie - 40, 76 Nordberg, Markus - 82 Postrel, Steven - 81 Ruzzier, Mitja - 83 Matusik, Sharon - 65 Nordqvist, Mattias - 69 Poulfelt, Flemming - 102 Maxfield, Sylvia - 86 Norman, Patricia - 79 Powalla, Christian - 62 S McCann, Brian - 103, 107 Nothnagel, Barnas - 97 Prahalad, CK - 47 McDaniel, Christine - 78 Nothnagel, Katja - 62 Prange, Christiane - 54 McEvoy, Patrick - 111 Novelli, Elena - 65 Prasad, Ajit - 55 Sadler, Anthony - 104 McGee, John - 74 Prescott, John - 66 Saenz, Josune - 92 McGowan, Richard - 13, 97 O Presutti, Manuela - 83 Sakakibara, Mariko - 13, 77 McGrath, Rita - 107 Prince, Jeffrey T - 63 Sangster, Andrew - 113
McGuire, Jean - 76 Probst, Gilbert - 91 Santalainen, Timo - 82 Oberholzer-Gee, Felix - 27 McGuire, Steven - 31 Pukthuanthong, Kuntara - 30 Santalo, Juan - 96 ogilvie, dt - 74 McNamara, Gerry - 13, 98 Puranam, Phanish - 93 Santos, Joe - 74 Okhmatovskiy, Ilya - 89 Meadows, Maureen - 54, 113 Pérez-Luño, Ana - 92 Sapienza, Harry - 62 Oliveira, Fernando – 64 Meer, Robert Van der - 90 Sarason, Yolanda - 103 Oliveira Jr., Moacir - 91 Melin, Leif - 8, 68-69, 90 Q Sarkar, MB - 13, 21-22, 34, 109 Olk, Paul - 13, 39, 67, 79 Mellahi, Kamel - 10, 31 Sasson, Amir - 55 Oosterveld, Jan P - 6 Mellewigt, Thomas - 3, 13, 40, 62 Scarbrough, Harry - 40 Oriani, Raffaele - 93 Mendonça, Joana - 35 Quelin, Bertrand - 13, 99 Schendel, Dan - 6 Ortiz-de-Urbina-Criado,Marta - 40, 65 Menz, Markus - 41, 76 Schijven, Mario - 10, 13, 29 Osborn, Marcus - 112 Meshulach, Avraham - 13, 29 R Schillaci, Carmela Elita - 13, 105 Osborn, Richard - 112 Mesquita, Luiz - 83, 109 Schlegelmilch, Bodo B - 30-31 Osterloh, Margit – 52 Metscher, Sven - 32 Schläpfer, Jörg - 110 Österman, Riku - 90 Ragozzino, Roberto - 13, 99 Meyer, Klaus - 13, 75 Schnatterly, Karen - 13, 29, 88 Ouden, Brian den - 38 Raisch, Sebastian - 74, 110 Miller, Stewart - 78 Schneider, Ferdinand - 80 Oz, Chanan Ben - 63 Rajwani, Tazeeb - 85 Miller, Toyah - 70 Schoonhoven, Claudia - 55 Ozcan, Pinar – 95 Ramirez, Rafael - 90, 111 Miller, Warren - 93 Schröder, Richard - 35 Ramos, Miguel - 89 Min-Ping, Kang - 108 Schuler, Doug - 36, 73 Ranft, Annette - 13, 88 Mindruta, Constanta - 113 P Schulze, William - 13, 69 Rangan, Subramanian - 26 Mingo, Santiago - 37 Schweizer, Lars - 41, 65 Ransbotham, Sam - 57 Scime, Anthony - 103 Minichilli, Alessandro - 39 Pandza, Krsto - 59 Rao, Rekha - 65 Seelos, Christian - 25 Mitchell, Will - 13, 52, 110 Papp, Ilona - 94 Reed, Richard - 13, 85 Segal-Horn, Susan - 13, 22, 54 Mitson, Sarah - 38 Parada, Pedro - 13, 96 Reese, Shane - 88 Segev, Eli - 51 Moatti, Valerie - 109 Paris, Thomas - 43 Reger, Rhonda - 13, 20, 22, 32 Seidl, David - 45 Moliterno, Thomas P - 107-108 Park, Byung Jin - 80 Regnér, Patrick - 32 Sengul, Metin - 26 Moloney, John - 97 Park, Jason - 78 Rehbein, Kathleen - 36 Seo, Jeongil - 85 Monnet, Bertrand - 77 Parmigiani, Anne - 52 Reinmoeller, Patrick - 80 Sethi, Deepak - 101 Monteiro, Felipe - 57, 92 Paroutis, Sotirios - 102 Reitzig, Markus - 80, 93 Shamsie, Jamal - 13, 21, 28, 50, 80 Montoro-Sánchez, Angeles - 40, 65 Passiante, Giuseppina - 1 Renaud, Mouyrin - 63 Shanley, Mark - 51, 108 Moore, Curtis - 72, 95 Pathak, Seemantini - 111 Reuer, Jeffrey - 13, 32, 36, 74, 99 Sharp, Barton - 68 Morris, Shad - 33 Pattit, Jason - 67 Reus, Taco - 54 Shelton, Lois - 87 Mosakowski, Elaine - 13, 65 Patzelt, Holger - 41 Ricart, Joan E - 6, 8, 20, 49, 74 Sheremata, Willow - 56 Mousa, Fariss-Terry - 85 Payne, G Tyge - 95, 104 Richter, Ansgar - 82 Shin, Jae Yong - 85 Mtar, Monia - 66 Pazzaglia, Federica - 28 Rigamonti, Eric - 89 Shropshire, Christine - 111 Mulotte, Louis - 38 Pelka, Nikolaus - 4, 6 Rindfleisch, Heike - 75 Sicher, Peter - 81 Murmann, Johann Peter - 105 Pellegrino, Antonella - 50, 67 Rindova, Violina - 32 Sidhu, Jatinder - 111 Murray, Jonathan - 3, 48 Peng, Mike - 3, 13, 19, 22, 68, 105 Ringov, Dimo - 81 Sifa, Chiyoge B - 10, 34 Mäkinen, Saku – 55 Peng, Tzu-Ju Ann - 38 Rivera, Olga - 92 Siggelkow, Nicolaj - 13, 43 Penner-Hahn, Joan - 87 Rivera-Santos, Miguel - 37, 52 Silva, Francisca - 13, 66, 106 Perkins, Susan - 53 Robertson, Duncan - 87 Simms, Shalei - 74
San Diego | October 14-17 2007 1 1 7 Simon, Daniel H - 63, 106 Thiele, Reynaldo Valle - 62 Vroom, Govert - 103, 107 Y Simoni, Michele - 64 Thomas, Howard - 36, 61 Vurro, Clodia – 73 Sims, Martin - 112 Thompson, Marc - 111 Simsek, Zeki - 71, 111 Thorne, Helen - 67 W Yakis-Douglas, Basak - 69 Singal, Manisha - 39, 76 Thun, Eric - 10, 31 Yamanoi, Junichi - 38 Singh, Devendra - 27 Tihanyi, Laszlo - 13, 36 Yang, Haibin - 45 Singh, Harbir - 26 Toh, PuayKhoon - 106 Wadhwa, Anu - 13, 112 Yao, Dennis - 27 Sirmon, David - 100 Tomassen, Sverre - 31, 78 Wadwhani, R Daniel - 85 Yasai-Ardekani, Masoud - 64 Smith Ring, Peter - 4, 8, 13, 47 Tong, Tony - 13, 71, 98 Wager, Jeff - 91 Yip, George - 47, 105 Smoller, Margaret - 112 Toranzo, Jorge Merzthal - 94 Waldron, Theodore - 107 Yiu, Daphne - 76 Snell, Scott - 33 Tournois, Nadine - 27 Wallin, Johan - 96 Yoder, Michele E - 77 Sofka, Wolfgang - 30, 93 Trinh, Kim-Chi Wakefield - 97 Walstra, Linda - 99 Yoshikawa, Toru - 10, 40, 99 Solomon, Esther - 42 Tsai, Wenpin - 13, 63 Walter, Jorge - 91 Yu, Chwo-Ming - 38 Somaya, Deepak - 10, 28, 78 Tseng, Yuan-Ju - 104 Wan, William - 76 Yuan, Wenlong - 105 Song, Xiang Nong - 90 Tucci, Christopher - 107 Wang, Zhi - 78 Yurov, Kirill - 51 Sonpar, Karan - 28 Tucker, Basil - 67 Washburn, Mark - 13, 56, 88 Yurova, Yuliya – 51 Soparnot, Richard - 50 Tuggle, Chris - 39 Watson, Andrew - 78 Speckbacher, Gerhard - 109 Tukiainen, Taina - 39 Weber, Klaus - 56 Z Srivastava, Manish - 58, 68 Turner, Scott - 22, 81 Weibel, Antoinette - 13 Staats, Bradley - 59 Tyler, Beverly - 31-32 Weigelt, Carmen - 109 Zaheer, Akbar - 112 Stadler, Christian - 62 Tzabbar, Daniel - 34 Weisz, Natalia - 83 Zaheer, Srilata - 49, 112 Steensma, Kevin - 44 Welch, Theodora - 52 Zahra, Shaker - 10, 40 Steinhilber, Steve - 26 U Welsh, Ann - 102 Zajac, Edward - 8, 18, 21, 53, 109 Stenfors, Sari - 11, 13, 19, 21, 27, 44 Wen, Sonya - 44, 79 Zardkoohi, Asghar - 36, 97 Stiles, David - 25 West, Page - 44 Zattoni, Alessandro - 39 Strohecker, Carol - 91 Un, Annique - 33, 86 Wetter, Erik - 59 Zatzick, Christopher - 108 Strom, Robert - 59 Utrera, Maria Gabriela - 66 White, Margaret - 13, 42, 66, 100 Zelner, Bennet - 96 Su, Kuo-Hsien - 63 Uzuegbunam, Ikenna - 51 White, Robert - 36 Zeng, Yuping - 31 Subbiah, Muthu - 13, 25 Whitten, Dwayne - 53 Zenger, Todd - 60 Sudarsanam, Sudi - 10, 54 V Whittington, Richard - 13, 69, 91 Zhang, Sanjian - 77 Suen, Alberto - 64 Wiersema, Margarethe - 3, 6, 13, 77, 88 Zhang, Yan - 13, 55 Sullivan-Taylor, Bridgette - 74 Vagnani, Gianluca - 64 Wijk, Raymond Van - 34 Zhao, Chunli - 89 Sun, Pei - 10, 31 Valente, Michael - 25 Wiklund, Johan - 13, 92 Zhao, Peng - 40 Sundaramurthy, Chamu - 30, 102 Valikangas, Liisa - 27 Williams, Charles - 69, 110 Zhao, Xia - 45, 53 Symalin, Saleem - 101 Valle, Ramon - 92 Williamson, Ian - 10, 28 Zhou, Yue - 106 Szabo, Roland - 80, 94 Vassolo, Roberto - 83 Winter, Sidney - 75, 81 Zhu, Hong - 94 Szczygielska, Anna - 55 Vecchiato, Riccardo - 11, 28, 49 Witcher, Barry - 85 Ziedonis, Arvids - 13, 98 Szulanski, Gabriel - 81 van der Veen, Casper - 56 Withers, Michael - 102 Ziedonis, Rosemarie - 71 Szyliowicz, Dara – 85 Veiga, John - 111 Wolfgram, Jay - 86 Ziggers, Gerrit Willem - 38 van de Ven, Andy - 20, 23 T Woo, Carolyn - 6 Zimmermann, Alexander - 52 Vera, Dusya - 10, 34 Wood, Robert - 13, 82 Zimmermann, Carsten - 94 Verbeke, Alain - 22, 102, 105 Wooldridge, Bill - 13, 42 Zimmermann, Joerg - 30 Tacheva, Sabina - 39 Verona, Gianmario - 13, 51, 79 Woolley, Jennifer - 70 Zimmermann, Philipp - 94 Tallman, Stephen B - 13, 92 Very, Philippe - 77 Wright, George - 112 Zollo, Maurizio - 20-21 Tan, Danchi - 108 Vicari, Salvatore - 51 Wright, Mike - 13, 23 Zott, Christoph - 42, 49 Tan, Justin - 19 Vila, Joaquim - 42 Wright, Robert - 102-103 Zysman, John - 48 Tandon, Vivek - 66 Viney, Howard - 77 Wu, Changqi – 31 Tanner, Leena - 11, 44 Virgillito, Daniele - 69 Taylor, Alva - 113 Vlaar, Paul - 39 X Taylor, Marilyn - 59 Voelpel, Sven - 89
Tegarden, Linda - 81-82 Vogel, David - 114 Xia, Kang-Ning – 58 Teichert, Thorsten - 57 Volberda, Henk W - 55, 76 Tell, Fredrik - 33 Voss, Inga - 66
1 1 8 SMS 27th Annual International Conference Exhibitors
Edward Elgar Publishing
Emerald Group Publishing Ltd
Interpretive Simulations
Oxford University Press
McGraw-Hill/Irwin
Palgrave Macmillan
Prentice Hall
Sage
SMS –2008 Cologne
South-Western Thomson
Wiley-Blackwell
San Diego | October 14-17 2007 1 1 9 New from Edward Elgar Publishing
Stop by our display to see these and other new titles!
A Grammar of new paperback Corporate Strategies Organizing Identity and Strategy under International Maria Bengtsson, Tomas How individual Visions Terrorism and Müllern, Anders Söderholm Enable the Design of a Adversity and Nils Wåhlin Market Strategy that Works Edited by Gabriele G.S. Suder Aug 2007 200 pp Hardback Olaf G. Rughase 978 1 84376 604 9 $90.00 2006 240 pp Hardback Nov 2007 256 pp Paperback 978 1 84542 241 7 $100.00 978 1 84720 656 5 $45.00 Handbook of Human Capital, Qualitative Research Measuring Inter-firm Mobility Methods in Organizational and Organizational Entrepreneurship Performance Evolution Edited by Helle Neergaard and Metrics for Entrepreneurship John Parm Ulhøi Johannes M. Pennings and and Strategic Management Filippo Carlo Wezel 2007 520 pp Hardback research 978 1 84376 835 7 $215.00 Nov 2007 304 pp Hardback Elgar original rEfErEncE Robert B. Carton and 978 1 84542 757 3 $125.00 Charles W. Hofer 2007 296 pp Hardback Entrepreneurial 978 1 84542 620 0 $120.00 International Strategy Business Strategy in Emerging Businesses Organizations and Emerging Country in Declining industries the Sustainability Markets Lucio Cassia, Michael Fattore Mosaic The institutional network and Stefano Paleari approach crafting long-Term 2006 320 pp Hardback Hans Jansson 978 1 84542 197 7 $110.00 Ecological and Societal Solutions 2007 320 pp Hardback 978 1 84542 788 7 $130.00 Small and Medium- Edited by Sanjay Sharma, Mark Starik and Bryan Husted Sized Enterprises and 2007 328 pp Hardback A New Generation the Global Economy 978 1 84542 642 2 $145.00 in International Edited by Gerald I. Susman Strategic 2007 360 pp Hardback Trading Places – 978 1 84542 595 1 $140.00 Management SMEs in the Global Edited by Stephen Tallman Economy Dec 2007 c 360 pp Hardback a critical research Handbook 978 1 84720 038 9 c $145.00 Edited by Lester Lloyd-Reason Special preview chapters and Leigh Sear available for viewing at our display! Sept 2007 272 pp Hardback 978 1 84542 039 0 $145.00 Elgar original rEfErEncE
1 2 0 SMS 27th Annual International Conference Emerald welcomes you to the 27th Annual International SMS Conference Exclusive discounts for delegates! For a limited time you can receive a 50% discount on three of Emerald’s Strategy journals!
ISSN 1751-5637 Volume 8 Number 1 2007 Business Strategy Series $249 (list price $499) Business Strategy Series Business Strategy Series provides busy managers with a comprehensive series of executive briefings on a 2007 formerly Handbook of Business Strategy whole range of issues central to all cutting-edge corporate strategies. This journal brings together the strategic thought leaders behind many of the world’s leading corporations including senior executives, top-flight consultants and business school gurus. So you get the expertise and insights of some of the
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ISSN 1087-8572 Volume 35 Number 1 2007 Strategy & Leadership $399 (list price $799)
Strategy & Leadership Each issue of Strategy & Leadership brings you authoritative comment from the world’s leading experts in Inside Issue 1 Competitive and market intelligence best practices: • Connecting intelligence to strategy • Forming effective intelligence teams Plus: corporate strategy and strategic management. Its thoughtful, in-depth analysis looks at strategies, tools • How strategic innovation really gets started • Intellectual property management best practices • Strategic SKU reduction • Strategies for competing when China leaps again and techniques from an objective position and gives advice on where you should be going and what to avoid on your journey.
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San Diego | October 14-17 2007 1 2 1 IS YOUR COMPANY FIT FOR THE FUTURE?
““For the past century, people have worked in the management prisons of the Industrial Age, which has wasted the energy, creativity, and human potential of our people. Gary Hamel outlines the limits of all of this with great clarity. But, more than that, he creates an inspiring and needed vision for the future of management that is not only more human, but can unleash the full potential in all of us.” —RICHARD FLORIDA, PROFESSOR OF BUSINESS AND CREATIVITY, ROTMAN SCHOOL OF MANAGEMENT; AND AUTHOR OF THE RISE OF THE CREATIVE CLASS
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AUTHOR GARY HAMEL www.HBSPress.org
1 SMS 27th Annual International Conference ARE YOU PREPARED TO NAVIGATE THE WORLD?
““Most of us do not need much persuading that the world is still round, but Pankaj Ghemawat redefines its circularity. He shows how companies can benefit from what he calls semiglobalization, while not falling into the traps unwittingly set by those who talk glibly about our ‘globalized world.’” —SIR HOWARD DAVIES, DIRECTOR, LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE, FORMER CHAIRMAN, FINANCIAL SERVICES AUTHORITY, UNITED KINGDOM
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Available wherever books are sold.
AUTHOR PANKAJ GHEMAWAT www.HBSPress.org
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1 2 4 SMS 27th Annual International Conference -ÌÀ}Ê Õ} ÊvÀÊÌ iÊ*," --",o $ESS 2EmECTS THE ,ATEST -ANAGEMENT 4HOUGHT AND 2ESEARCH $ESS PROVIDES SOLID TREATMENT OF TRADITIONAL TOPICS IN STRATEGIC MANAGEMENT AND TAKES A MODERN APPROACH TO STRATEGY WITH THE UNIQUE COVERAGE OF CONTEMPORARY TOPICS SUCH AS ENTREPRENEURIAL STRATEGY AND COMPETITIVE DYNAMICS SOCIAL NETWORKS AND THEIR IMPLICATION FOR KNOWLEDGE MANAGEMENT AND CAREER SUCCESS STRATEGIES TO DEVELOP AND RETAIN 'ENERATION 9 EMPLOYEES AND SO ON 5NIQUE STRONG CONNECTION BETWEEN CHAPTER CONCEPTS AND CASE ISSUES 4HE NEW CASE SELECTION EMPHASIZES VARIETY CURRENCY AND FAMILIAR COMPANY NAMES !DDITIONALLY OF ALL CASES ARE AUTHOR WRITTEN TO ENSURE THE STRONG CONNECTION BETWEEN CHAPTER CONCEPTS AND CASE ISSUES THATS VITAL FOR SUCCESSFUL CASE TEACHING $UE !UTHOR 7RITTEN )NSTRUCTOR -ANUAL AND 4EST "ANK .OVEMBER 5NIQUE IN THIS MARKET THE AUTHORS HAVE PREPARED THEIR OWN INSTRUCTORS MANUAL AND TEST BANK WITH THE PRIMARY GOAL TO SAVE INSTRUCTORS PREP TIME oLÕÌÊ >`iÊvÀÊÌ iÊ-/1 /° 2EmECTING ON #AREER )MPLICATIONS 3HOWS STUDENTS HOW UNDERSTANDING KEY STRATEGY CONCEPTS HELPS THEM EARLY IN THEIR CAREERS ,EARNING FROM -ISTAKES $ESS UNDERSTANDS THAT FAILURE IS INTERESTING TO LEARN FROM WHICH IS WHY EVERY CHAPTER FEATURE OPENS WITH AN EXAMPLE OF WHERE THINGS WENT WRONG
$ESS,UMPKIN%ISNER 3TRATEGIC -ANAGEMENT TH %DITION ¥ #ONCEPTS AND #ASES )3". \ #ONCEPTS ONLY )3". WWWMHHECOMDESSE
/ «ÃÉ-ÌÀV>`É>Li]Ê À>vÌ}Ê>`Ê ÝiVÕÌ}Ê-ÌÀ>Ìi}Þ]Ê£ÈiÊ^ÓäänÊ ÕiÊ-i«ÌiLiÀÊÓn]ÊÓääÇ -YXMOZ^]KXN-K]O] O$3=,8! " f-YXMOZ^]KXN Adopt 8Oa^Y O$>aOX^cOSQR^YP MK]O]K\OXOaNS`O\]O^SWOVcKXN the Gold Standard ^RY_QR^P_VVcM\KP^ONaS^R^ROLO]^MK]OXY^O]YX^ROWK\UO^ -" C -/, C ÜÜÜ° i°VÉÌ «Ã FUN. EASY. EFFECTIVE. & GLO-BUS WWWMHHECOMTHOMPSONSIMS San Diego | October 14-17 2007 1 2 5 NEW FROM Palgrave Macmillan ECONOMICS, STRATEGY AND THE STRATEGIC ORGANIZATIONAL NEW FACULTY FIRM CHANGE A Practical Guide for Academic Beginners, 2nd Paul Cashian Building Change Capabilities in Your Organization Edition September 2007 / 448 pp. Ellen Auster, Krista Wylie and Michael Christopher J. Lucas and John W. Murry, Jr. ISBN: 0-333-99297-0 / ISBN-13: 978-0-333-99297-5 Valente September 2007 / 304 pp. $47.95 pb. (C$55.25) July 2005 / 208 pp. ISBN: 0-230-60002-6 / ISBN-13: 978-0-230-60002-7 ISBN: 1-4039-9149-9 / ISBN-13: 978-1-4039-9149-2 $27.95 pb. (C$32.50) ADVANCED STRATEGIC $49.95 hc. (C$57.50) MANAGEMENT MASTERING STRATEGIC A Multi-Perspective Approach, Second Edition HOW DISRUPTION BROUGHT ORDER MANAGEMENT Edited by Véronique Ambrosini The Story of a Winning Strategy in the World of Tim Hannagan August 2007 / 416 pp. Advertising Palgrave Master Series ISBN: 1-4039-8592-8 / ISBN-13: 978-1-4039-8592-7 Jean-Marie Dru, CEO of TBWA March 2001 / 223 pp. $50.95 pb. (C$58.75) September 2007 / 256 pp. ISBN: 0-333-92746-X / ISBN-13: 978-0-333-92746- ISBN: 0-230-60069-7 / ISBN-13: 978-0-230-60069-0 5$33.95 pb. (C$39.25) EVERYDAY STRATEGIC $27.95 hc. (C$34.95) PREPAREDNESS BRANDSIMPLE The Role of Practical Wisdom in Organization MANAGING RISKS IN PUBLIC How the Best Brands Keep it Simple and Succeed Matt Statler and Johan Roos ORGANISATIONS Allen P.Adamson;foreword by Sir Martin Sorrell August 2007 / 184 pp. Martin Fone and Peter C. Young August 2007 / 256 pp. ISBN: 0-230-51563-0 / ISBN-13: 978-0-230-51563-5 January 2007 / 198 pp. ISBN: 1-4039-8490-5 / ISBN-13: 978-1-4039-8490-6 $93.50 hc. (C$107.50) ISBN: 1-899287-76-0 / ISBN-13: 978-1-899287-76-5 $14.95 pb. (C$17.25) $84.95 pb. (C$97.75) STRATEGIC MANAGEMENT CLASSIC THE NEW AMERICAN WORKPLACE EDITION KEY CONCEPTS IN STRATEGIC James O’Toole and Edward E. Lawler III; H. Igor Ansoff; Introduction by G.I. Nakamura MANAGEMENT foreword by Susan R. Meisinger July 2007 / 272 pp. Jonathan Sutherland and Diane Canwell September 2007 / 256 pp. ISBN: 0-230-52548-2 / ISBN-13: 978-0-230-52548-1 Palgrave Key Concepts ISBN: 1-4039-8491-3 / ISBN-13: 978-1-4039-8491-3 $50.00 hc. (C$57.50) September 2004 / 256 pp. $14.95 pb. (C$17.25) ISBN: 1-4039-2135-0 / ISBN-13: 978-1-4039-2135-2 STRATEGIC OPERATIONS $26.95 pb. (C$31.25) THE STRATEGIC COMMUNITY-BASED MANAGEMENT FIRM A Value Chain Approach KEY CONCEPTS IN INTERNATIONAL Mitsuru Kodama David Walters and Mark Rainbird BUSINESS March 2007 / 256 pp. February 2007 / 420 pp. Jonathan Sutherland and Diane Canwell ISBN: 0-230-00685-X / ISBN-13: 978-0-230-00685-0 ISBN: 0-230-50765-4 / ISBN-13: 978-0-230-50765-4 Palgrave Key Concepts $80.00 hc. (C$92.00) $67.95 pb. (C$78.25) September 2004 / 256 pp. ISBN: 1-4039-1534-2 / ISBN-13: 978-1-4039-1534-4 LEADERSHIP, CHARACTER AND ELEMENTS OF STRATEGY $26.95 pb. (C$31.25) STRATEGY A Pocket Guide to the Essence of Successful Exploring Diversity Business Strategy KEY CONCEPTS IN MANAGEMENT Keith Patching Mark Daniell Jonathan Sutherland and Diane Canwell February 2007 / 320 pp. October 2006 / 112 pp. Palgrave Key Concepts ISBN: 0-230-50084-6 / ISBN-13: 978-0-230-50084-6 ISBN: 0-230-00906-9 / ISBN-13: 978-0-230-00906-6 September 2004 / 320 pp. $42.50 hc. (C$49.00) $28.95 pb. (C$33.50) ISBN: 1-4039-1533-4 / ISBN-13: 978-1-4039-1533-7 $26.95 pb. (C$31.25) STRATEGIC PERFORMANCE INTRODUCTION TO MANAGEMENT MANAGEMENT Fourth Edition A Managerial and Behavioural Approach Richard Pettinger Andre de Waal January 2007 / 656 pp. February 2007 / 416 pp. ISBN: 0-230-00038-X / ISBN-13: 978-0-230-00038-4 ISBN: 1-4039-9884-1 / ISBN-13: 978-1-4039-9884-2 $61.95 pb. (C$71.25) $45.00 pb. (C$52.00) VISIT US AT OUR BOOTH! Distributor of Berg Publishers, Hambledon and London, I.B.Tauris, Manchester University Press, and Zed Books (888) 330-8477 • Fax: (800) 672-2054 • www.palgrave-usa.com 1 2 6 SMS 27th Annual International Conference NEW FROM Palgrave Macmillan ECONOMICS, STRATEGY AND THE STRATEGIC ORGANIZATIONAL NEW FACULTY FIRM CHANGE A Practical Guide for Academic Beginners, 2nd Paul Cashian Building Change Capabilities in Your Organization Edition September 2007 / 448 pp. Ellen Auster, Krista Wylie and Michael Christopher J. Lucas and John W. Murry, Jr. ISBN: 0-333-99297-0 / ISBN-13: 978-0-333-99297-5 Valente September 2007 / 304 pp. $47.95 pb. (C$55.25) July 2005 / 208 pp. ISBN: 0-230-60002-6 / ISBN-13: 978-0-230-60002-7 ISBN: 1-4039-9149-9 / ISBN-13: 978-1-4039-9149-2 $27.95 pb. (C$32.50) ADVANCED STRATEGIC $49.95 hc. (C$57.50) MANAGEMENT MASTERING STRATEGIC A Multi-Perspective Approach, Second Edition HOW DISRUPTION BROUGHT ORDER MANAGEMENT Edited by Véronique Ambrosini The Story of a Winning Strategy in the World of Tim Hannagan August 2007 / 416 pp. Advertising Palgrave Master Series ISBN: 1-4039-8592-8 / ISBN-13: 978-1-4039-8592-7 Jean-Marie Dru, CEO of TBWA March 2001 / 223 pp. $50.95 pb. (C$58.75) September 2007 / 256 pp. ISBN: 0-333-92746-X / ISBN-13: 978-0-333-92746- ISBN: 0-230-60069-7 / ISBN-13: 978-0-230-60069-0 5$33.95 pb. (C$39.25) EVERYDAY STRATEGIC $27.95 hc. (C$34.95) PREPAREDNESS BRANDSIMPLE The Role of Practical Wisdom in Organization MANAGING RISKS IN PUBLIC How the Best Brands Keep it Simple and Succeed Matt Statler and Johan Roos ORGANISATIONS Allen P.Adamson;foreword by Sir Martin Sorrell August 2007 / 184 pp. Martin Fone and Peter C. Young August 2007 / 256 pp. ISBN: 0-230-51563-0 / ISBN-13: 978-0-230-51563-5 January 2007 / 198 pp. ISBN: 1-4039-8490-5 / ISBN-13: 978-1-4039-8490-6 $93.50 hc. (C$107.50) ISBN: 1-899287-76-0 / ISBN-13: 978-1-899287-76-5 $14.95 pb. (C$17.25) $84.95 pb. (C$97.75) STRATEGIC MANAGEMENT CLASSIC THE NEW AMERICAN WORKPLACE EDITION KEY CONCEPTS IN STRATEGIC James O’Toole and Edward E. Lawler III; H. Igor Ansoff; Introduction by G.I. Nakamura MANAGEMENT foreword by Susan R. Meisinger July 2007 / 272 pp. Jonathan Sutherland and Diane Canwell September 2007 / 256 pp. ISBN: 0-230-52548-2 / ISBN-13: 978-0-230-52548-1 Palgrave Key Concepts ISBN: 1-4039-8491-3 / ISBN-13: 978-1-4039-8491-3 $50.00 hc. (C$57.50) September 2004 / 256 pp. $14.95 pb. (C$17.25) ISBN: 1-4039-2135-0 / ISBN-13: 978-1-4039-2135-2 STRATEGIC OPERATIONS $26.95 pb. (C$31.25) THE STRATEGIC COMMUNITY-BASED MANAGEMENT FIRM A Value Chain Approach KEY CONCEPTS IN INTERNATIONAL Mitsuru Kodama David Walters and Mark Rainbird BUSINESS March 2007 / 256 pp. February 2007 / 420 pp. Jonathan Sutherland and Diane Canwell ISBN: 0-230-00685-X / ISBN-13: 978-0-230-00685-0 ISBN: 0-230-50765-4 / ISBN-13: 978-0-230-50765-4 Palgrave Key Concepts $80.00 hc. (C$92.00) $67.95 pb. (C$78.25) September 2004 / 256 pp. ISBN: 1-4039-1534-2 / ISBN-13: 978-1-4039-1534-4 LEADERSHIP, CHARACTER AND ELEMENTS OF STRATEGY $26.95 pb. (C$31.25) STRATEGY A Pocket Guide to the Essence of Successful Exploring Diversity Business Strategy KEY CONCEPTS IN MANAGEMENT Keith Patching Mark Daniell Jonathan Sutherland and Diane Canwell February 2007 / 320 pp. October 2006 / 112 pp. Palgrave Key Concepts ISBN: 0-230-50084-6 / ISBN-13: 978-0-230-50084-6 ISBN: 0-230-00906-9 / ISBN-13: 978-0-230-00906-6 September 2004 / 320 pp. $42.50 hc. (C$49.00) $28.95 pb. (C$33.50) ISBN: 1-4039-1533-4 / ISBN-13: 978-1-4039-1533-7 $26.95 pb. (C$31.25) STRATEGIC PERFORMANCE INTRODUCTION TO MANAGEMENT MANAGEMENT Fourth Edition A Managerial and Behavioural Approach Richard Pettinger Andre de Waal January 2007 / 656 pp. February 2007 / 416 pp. ISBN: 0-230-00038-X / ISBN-13: 978-0-230-00038-4 ISBN: 1-4039-9884-1 / ISBN-13: 978-1-4039-9884-2 $61.95 pb. (C$71.25) $45.00 pb. (C$52.00) VISIT US AT OUR BOOTH! Distributor of Berg Publishers, Hambledon and London, I.B.Tauris, Manchester University Press, and Zed Books (888) 330-8477 • Fax: (800) 672-2054 • www.palgrave-usa.com San Diego | October 14-17 2007 1 2 7 New to SAGE Offi cial Journal of the Midwest Academy of Management Editors: Fred Luthans and John W. Slocum, Jr. Journal of Leadership and Organizational Studies publishes Though JLOS primarily publishes research fi ndings derived high-quality, peer-reviewed research articles on leadership from testing theory-driven hypothesis through strong and organizational studies, focusing in particular on the methodologies, the journal also publishes value-added intersection of these two areas of study. JLOS aims to theoretical and cutting-edge application articles. Articles provide scholarly understanding of the effective application in JLOS apply to both the researcher and the professional, of leadership and other issues in an organizational and in all types of articles, special attention should be given context. In other words, the journal investigates all aspects to practical implications. The Journal also encourages of organizations/management (primarily leadership, international implications and cross-cultural studies as they but also organizational behavior, strategy, and human relate to leadership and organizational studies. resource management). Unlike journals that focus only on leadership or only on organization and management, JLOS coalesces these areas of study into a coherent whole. Now online! http://jlos.sagepub.com On the JLOS homepage you can: • Search for articles • Link to the Midwest Academy of • Access the table of contents to current and Management website previous issues • View Editorial listing and article submission • View the Most-Accessed and Most-Cited guidelines articles • Sign up for Email Alerts Also published by SAGE… gom.sagepub.com hum.sagepub.com jom.sagepub.com lea.sagepub.com org.sagepub.com 1 2 8 SMS 27th Annual International Conference New and Classic Titles from Stanford University Press AVAILABLE IN NOVEMBER 2007 Locating Global Handbook of Organizations and Advantage Transformative Environments Industry Dynamics Cooperation HOWARD E. ALDRICH in the International New Designs and Stanford Business Classics Economy Dynamics $27.95 paper Edited by Edited by MARTIN KENNEY with SANDY KRISTIN PIDERIT, Formal Organizations RICHARD FLORIDA RONALD E. FRY, and A Comparative Innovation and Technology in the DAVID L. COOPERRIDER Approach World Economy $95.00 cloth PETER M. BLAU and $25.95 paper $60.00 cloth W. RICHARD SCOTT Transformation Through Stanford Business Classics Living Into Leadership Global Value Chains $27.95 paper A Journey in Ethics Taking Advantage of BOWEN H. “BUZZ” MCCOY Business Synergies in the United States and China Organizations, Policy, $24.95 cloth and the Natural BEHNAM N. TABRIZI and Environment Collaborative MITCHELL M. TSENG Institutional and Entrepreneurship $39.95 cloth Strategic Perspectives How Communities Edited by of Networked ANDREW J. HOFFMAN and Firms Use Continuous MARC J. VENTRESCA Innovation to $35.95 paper $77.95 cloth Create Economic Wealth Achieving Strategic RAYMOND E. MILES, Excellence GRANT MILES, and An Assessment of CHARLES C. SNOW Human Resource $31.95 cloth Organizations EDWARD E. LAWLER III, Organizational JOHN W. BOUDREAU, and Strategy, Structure, SUSAN ALBERS MOHRMAN and Process with ALICE YEE MARK, RAYMOND E. MILES and BETH NEILSON, and CHARLES C. SNOW NORA OSGANIAN Stanford Business Classics $50.00 paper $27.95 paper Strategizing, The External Control Disequilibrium, of Organizations and Profit A Resource Dependence Perspective JOHN A. MATHEWS $24.95 paper $65.00 cloth JEFFREY PFEFFER and GERALD R. SALANCIK Stanford Business Classics $27.95 paper Stanford University Press 800.621.2736 www.sup.org San Diego | October 14-17 2007 1 2 9 Leading Strategic Management Titles from Thomson South-Western! NEW Edition New Edition Coming Spring 08! Hitt/Ireland/ Hoskisson/Hitt/Ireland Ireland/Hoskisson Peng Hoskisson Competing for Advantage, 2e /Hitt Global Strategy Strategic ISBN: 0-324-31666-6 Understanding ISBN: 0-324-28852-2 Management: Business Strategy: Competitiveness and Concepts & Cases Globalization, 7e ISBN: 0-324-28246-X ISBN: 0-324-31694-1 NEW Edition NEW Edition Harrison/St. John White/Bruton Pitts/Lei Cullen Foundations of The Management Strategic Multinational Strategic of Technology Management: Management: Management, 4e and Innovation: Building and A Strategic ISBN: 0-324-36226-9 A Strategic Approach Sustaining Emphasis, 4e ISBN: 0-324-14497-0 Competitive ISBN: 0-324-42177-X Advantage, 4e ISBN: 0-324-22621-7 Gopinath/Siciliano Abraham Wagner/Weick deWit/Meyer Strategize! 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Please visit the Wiley-Blackwell Booth � Sign up for FREE table of content email alerts � Find out how to submit your article to the top journals in your field � Gain FREE access to online content. View our journals online at: www.blackwell-synergy.com www.interscience.wiley.com/business San Diego | October 14-17 2007 1 3 1 a professional society for the advancement of strategic management The Strategic Management Society (SMS) is unique in bringing together the worlds of reflective practice and thoughtful scholarship. The Society consists of more than 2,000 members representing over 50 different countries. Membership, composed of academics, business practitioners, and consultants, focuses its attention on the development and dissemination of insights on the strategic management process, as well as fostering contacts and interchange around the world. The Society is probably best known through the Strategic Management Journal (SMJ) published by John Wiley & Sons. The SMJ has become the leading scholarly publication in the field of Strategic Management. Since its inception it has sought to promote the development of advances in the field by maintaining the highest standards of intellectual thought combined with practical relevance. SMS Executive Office • Purdue University • 425 W State Street • Krannert Center • West Lafayette, IN 47907-2056 • USA Phone 1 765-494-6984 Fax 1 765-494-1533 e-mail [email protected] Interested? Visit www.strategicmanagement.net