顶刊推送《Strategic Management Journal》2022-43-2

出品@会计学术联盟(ID：KJXSLM)，顶刊推送管理部；信息来源：https://doi.org/10.1002/smj.3337；跟踪：谭欣苗 新疆大学研究生；编辑：张澳 湖南大学本科生；欢迎联系微信13717527221，提供优质学术信息。

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Strategic Management Journal

Volume 43, Issue 2

（February 2022）

目录

[1]. The long-term consequences of entrepreneurship: Earnings trajectories of former entrepreneurs

Jeroen Mahieu, Francesca Melillo, Peter Thompson

[2]. Dynamic resource redeployment in global semiconductor firms

Sea-Jin Chang, Yoichi Matsumoto

[3]. The invention performance implications of coopetition: How technological, geographical, and product market overlaps shape learning and competitive tension in R&D alliances

Steffen Runge, Christian Schwens, Matthias Schulz

[4]. Pay and networks in organizations: Incentive redesign as a driver of network change

Hitoshi Mitsuhashi, Azusa Nakamura

[5]. A foot in the door: Field experiments on entrepreneurs' network activation strategies for investor referrals

Jared Nai, Yimin Lin, Reddi Kotha, Balagopal Vissa

[6]. Thriving on contradiction: Toward a dialectical alternative to fit-based models in strategy (and beyond)

Moshe Farjoun, Peer C. Fiss

[7]. Demand agglomeration economies, neighbor heterogeneity, and firm survival: The effect of HHGregg's bankruptcy

Siddharth Sharma, Wilbur Chung

摘要与关键词

1 The long-term consequences of entrepreneurship: Earnings trajectories of former entrepreneurs 

Jeroen Mahieu

Assistant Professor of Entrepreneurship, Department of Management and Organisation, Vrije Universiteit Amsterdam, Amsterdam, Netherlands

Francesca Melillo

Assistant Professor of Entrepreneurship, SKEMA Business School, Université Côte d'Azur (GREDEG), Lille, France

Peter Thompson

Professor of Strategic Management, Georgia Institute of Technology, Scheller College of Business, Atlanta, Gerogia, USA 

Abstract：

Research Summary

Previous literature has documented a large short-term earnings gap for entrepreneurs that return to the wage sector. Using matched employer–employee data from the Belgian Labor Market & Social Protection Database, we document how this initial gap is remarkably persistent. Former entrepreneurs earn 27% less than propensity-scored matched controls 5 years after returning to wage work, which is almost unchanged from the short-term earnings drop. About 60% of this gap results from reductions in hours worked while the remaining 40% is due to reductions in the wage rate. We offer evidence that the decline in hours worked is a choice of former entrepreneurs and therefore reflects a compensating differential, while the decline in the wage rate is a penalty resulting from statistical discrimination by employers.

Managerial Summary

While previous work recognizes that entrepreneurs experience reduced earnings when they return to the wage sector, little evidence exists about the long-term consequences of a spell of entrepreneurship. Using detailed administrative data from a large sample of Belgian entrepreneurs and wage employees, we document an earnings gap of about 27% compared with observationally equivalent employees 5 years after returning to wage work. About 60% of this earnings gap results from a reduction in hours worked, and this part appears to be the result of individual choices. The remaining 40% of the earnings gap is due to a decline in the wage rate, and this part appears to be imposed on returning entrepreneurs by employers.

Keywords: 

earnings penalty, entrepreneurship, preferences, returns, Signaling

2 Dynamic resource redeployment in global semiconductor firms 

Sea-Jin Chang

National University of Singapore, Singapore and Korea Advanced Institute of Science and Technology, Seoul Korea

Yoichi Matsumoto

Faculty of Business and Commerce, Keio University, Tokyo, Japan 

Abstract：

This study explores how firms decide in which businesses to further invest and from which businesses to withdraw resources by examining the detailed product portfolios of firms in the global semiconductor industry. Results show that resource redeployment within incumbent businesses is more prevalent than via new entry or complete exit, since the former is more flexible and easily reversible than the latter. This study further finds that, while underutilized resources may drive resource redeployment, resource shortage by a newly entered or expanding incumbent business may also siphon resources away from other incumbent businesses, leading to their exit or temporary retrenchment. Fabless firms with resource that are more fungible, scalable, and decomposable vis-a-vis integrated device manufacturers show a more flexible and gradual pattern of resource redeployment.

Managerial summary

In fast-moving environments, firms should quickly redeploy resources to more promising business areas. We find fabless firms with more fungible, scale free, and decomposable resources engage in more active resource redeployment than integrated device manufacturers with specialized fabs and equipment, like Intel or Samsung. Redeployment among the latter requires a well-planned, synchronized approach so as to avoid idle resources. As such, in order to take advantage of dynamic resource redeployment, managers should begin by assessing the characteristics of firm resources along these dimensions. Managers may also consider business model transformation to separate their activities by specializing in areas in which they can best utilize their resources and capabilities, like fabless firms and foundries in the semiconductor industry.

Keywords: 

resource redeployment, economies of scope, entry, exit, resource-based theory

3 The invention performance implications of coopetition: How technological, geographical, and product market overlaps shape learning and competitive tension in R&D alliances 

Steffen Runge

Faculty of Management, Economics and Social Sciences, Endowed Chair for Interdisciplinary Management Science, University of Cologne, Cologne, Germany

Christian Schwens

Faculty of Management, Economics and Social Sciences, Endowed Chair for Interdisciplinary Management Science, University of Cologne, Cologne, Germany

Matthias Schulz

Faculty of Management, Economics and Social Sciences, Endowed Chair for Interdisciplinary Management Science, University of Cologne, Cologne, Germany 

Abstract：

Research Summary

We examine how technological, geographical, and product market overlaps between a firm and its alliance partner influence the firm's invention performance by shaping the learning and competitive tension in an R&D alliance. Drawing on research on learning in alliances and competitive dynamics, we argue that the firm's invention performance is influenced positively by technological and geographical overlaps and negatively by product market overlap. We further argue that product market overlap negatively moderates the positive relationships between technological and geographical overlaps and the firm's invention performance. Testing our theory on a dataset of 215 R&D alliances provides support for most of our hypotheses. We discuss how our theory and findings enrich coopetition and alliance research.

Managerial Summary

Prominent R&D alliances, such as between BioNtech and Pfizer or Samsung and Sony, typify coopetition—the collaboration between competing firms. In this context of coopetition, we study how a firm's invention performance is influenced by the technological, geographical, and product market overlaps it has with its R&D alliance partner. Empirical results from a sample of 215 R&D alliances formed between U.S. pharmaceutical firms confirm our theory that product market overlap is distinct from the other types of overlap: it changes the thrust of the alliance from joint value creation toward private value appropriation. This way, product market overlap not only decreases a firm's invention performance, but also weakens the positive impacts of technological and geographical overlaps on a firm's invention performance.

Keywords: 

coopetition; learning in R&D alliances; competitive dynamics; invention  performance; product market overlap

4 Pay and networks in organizations: Incentive redesign as a driver of network change 

Hitoshi Mitsuhashi

School of Commerce, Waseda University, Tokyo, Japan

Azusa Nakamura

Department of Management and Technology, Bocconi University, Milan, Italy 

Abstract：

Research summary

We examine how corporate innovators adapt their intraorganizational networks when firms introduce performance-based incentive plans that center on the short-term achievement of individuals' measurable outputs. We postulate that such plans prompt individuals to revise goals and reconfigure their networks accordingly. Using the co-patenting data, we analyzed cases of this incentive redesign by Japanese electronics firms in the 1990s. We found that the redesign engendered the emergence of more closed and smaller networks in organizations. Although inconsistent, we found some evidence that it promoted corporate innovators to build networks with others with similar expertise. These findings support the notion of incentive-induced network adaptation and suggest a new theme to study the effects of incentive redesign on network evolution.

Managerial summary

Research suggests that innovators' networks assist with generating novel ideas, and that some structural characteristics encourage innovation. However, knowledge about how managers can create social conditions that promote the emergence of “ideal” networks in their firms is limited. We focus on the effects of incentive redesign and explore how corporate innovators can change their intraorganizational networks when firms introduce performance-based incentive plans. We found that the redesign engendered the emergence of more closed and smaller networks in organizations. We also obtained some evidence that suggests that the redesign prompts inventors to include those with similar expertise in their networks. Thus, it is possible that managers can use incentive plans to design innovation networks in organizations.

Keywords: 

Incentive redesign, performance-based incentive, social networks, innovation, inventors

5 A foot in the door: Field experiments on entrepreneurs' network activation strategies for investor referrals 

Jared Nai

Lee Kong Chian School of Business, Singapore Management University, Singapore

Yimin Lin

Lee Kong Chian School of Business, Singapore Management University, Singapore

Reddi Kotha

Lee Kong Chian School of Business, Singapore Management University, Singapore

Balagopal Vissa

Entrepreneurship and Family Enterprise Area, INSEAD, Singapore 

Abstract：

Research summary

We investigate entrepreneurial network activation—the processes by which entrepreneurs select specific contacts from their existing personal network and persuade the selected contacts to provide referrals to access targeted early-stage investors (venture capitalists or angel-investors). We differentiate between selection of entrepreneur-centric contacts versus investor-centric contacts. We also distinguish between persuasion tactics that induce contacts' cooperation through promises of reciprocity versus offers of monetary incentives. We conducted two field-experiments in India and one in Singapore. Our primary field-experiment involved 42 Singapore-based entrepreneurs seeking referrals from 684 network contacts to reach a panel of four investors. Our evidence suggests that selecting investor-centric contacts leads to greater referral success; in addition, persuasion by promising reciprocity also leads to greater referral success.

Managerial summary

A vital first-step for resource-starved entrepreneurs seeking funding for their scalable business-idea is to obtain referrals to early-stage investors, because such investors pay more attention to referrals from trusted contacts. Using field-experiments, we examine how entrepreneurs' choices in selecting network contacts and persuading them to provide referrals drive their access to investors. Results suggest that compared with the habitual pattern of requesting referrals from contacts proximate to themselves, entrepreneurs are about six times more likely to secure successful referrals when they select investor-centric contacts for referral requests. Furthermore, actively persuading contacts by promising future reciprocity results in about three times higher likelihood of securing successful referrals. Our findings show how thoughtful activation of existing contacts can enable even modestly connected entrepreneurs to gain investor access.

Keywords: 

entrepreneurship, field experiments, network activation, social networks, venture financing

6 Thriving on contradiction: Toward a dialectical alternative to fit-based models in strategy (and beyond) 

Moshe Farjoun

Schulich School of Business, York University, Toronto, Ontario, Canada

Peer C. Fiss

Marshall School of Business, University of Southern California, Los Angeles, California, USA 

Abstract：

Research Summary

While the established, coherence view of internal fit provides a compact representation of firms and strategy, it also discounts the strategic benefits of tensions and contradictions, and downplays strategy creation and change. Here, we develop a novel dialectical alternative to fit-based models of strategy. Within our model, contradictions and tensions serve as a key engine for strategic renewal and transformation. If carefully harnessed through what we call “disciplined incoherence,” contradictions can help firms establish and change their strategies and business models, adapt to and shape their environment, and enhance and sustain their competitive advantage. We offer a dynamic, endogenous view of how configurations are generated, transformed, and maintained, and present a processual alternative to current strategy models that are grounded in equilibrium and coherence assumptions.

Managerial Summary

Prior thinking suggests that firm strategies should focus on achieving fit between the firm's different elements such as activities, organizational structures, and policies, and that tensions and inconsistencies should be eliminated or minimized. We argue that this view overlooks the important role of contradictions in fostering innovation and competitive advantage and driving strategic change and renewal. Conflicts and contradictions pose their own risks. Yet, given the potential for their firms to thrive on contradictions, managers and strategists should neither dismiss these challenges nor be paralyzed by them. Instead of stamping out tensions and contradictions, managers can apply a process of “disciplined incoherence” where they relinquish some control while drawing on organizational arrangements and their own creativity and skills to allow contradictions to develop.

Keywords: 

Fit-based models, Dialectics, Process View, Strategic Renewal and Transformation, Competitive Advantage

7 Demand agglomeration economies, neighbor heterogeneity, and firm survival: The effect of HHGregg's bankruptcy 

Siddharth Sharma

Indian School of Business, Mohali, Punjab, India

Wilbur Chung

Robert H. Smith School of Business, University of Maryland, College Park, Maryland, USA 

Abstract：

Research Summary

While agglomeration economies can enhance collocated firms' performance, firms' gains will be heterogeneous. Gains will be driven not only by firms' own traits, but also by their neighboring firms' traits. We expect a focal firm gains more from neighbors that are larger, more proximate geographically, and more related in economic activity. We leverage a quasi-experiment that features micro-geographic, establishment-level data: the exit of the HHGregg electronics retailer in outdoor shopping malls, to estimate the intensity of demand agglomeration benefits from two sources: (a) a focal-pair—how HHGregg's exit harms a focal store's survival, and (b) the other neighbors—how the attributes of the remaining neighbors attenuate this reduced survival effect. We find results consistent with the focal store's, HHGregg's, and neighbors' heterogeneity in size and distance affecting the focal store's survival.

Managerial Summary

While firms can benefit from being located near one another, the benefits vary with both a focal firm's characteristics but also neighboring firms' characteristics. A firm should benefit more from neighbors that are larger, physically closer, and engaged in more similar activity. We examine how the bankruptcy of the HHGregg electronics retailer negatively affected other stores in outdoor shopping malls, and how that loss in benefit was attenuated by the remaining neighbors. We find that a focal store's survival is affected by the focal store's, HHGregg's, and neighbors' heterogeneity in size and physical distance.

Keywords: 

demand agglomeration, firm heterogeneity, neighbor heterogeneity, survival

END

本期人员

跟踪：谭欣苗 新疆大学 研究生

审核：王建洋 长春工业大学 本科生

编辑：张澳 湖南大学 本科生

编辑团队成员名单：

李欣颖 青海民族大学 会计张澳 湖南大学 大四 会计学石庚岩 信阳师范学院 研二 会计学
吴伟 浙江工商大学 会计学 研三
王萃芳 东北财经大学 企业管理 博二
王俊苏 重庆理工大学 MPACC 研一

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