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Courting the Sharks: The Influence of CEO Narcissistic Admiration and Rivalry on New Venture Funding
No full textWe draw from the social psychology literature to introduce an alternative conceptualization of executive narcissism—narcissistic admiration and rivalry. In the context of chief executive officers (CEOs) pitching to investors, we theorize how narcissistic CEOs may use distinct behavioral strategies to pursue status, thereby shaping investor sentiment and ultimately affecting investors’ funding decisions. Using Shark Tank data, we find evidence that narcissistic admiration and rivalry are associated with opposing patterns in new venture funding, as shaped by investor sentiment. Specifically, CEO narcissistic admiration is positively associated with new venture funding by increasing investor sentiment, whereas CEO narcissistic rivalry is negatively associated with new venture funding by decreasing investor sentiment. These results highlight the need to separate narcissistic admiration and rivalry in executive narcissism research and illustrate the underlying mechanisms through which executive narcissism shapes organizational outcomes. Overall, this study provides new insights into two pathways of executive narcissism and offers evidence consistent with the idea that executive narcissism matters in entrepreneurial contexts. Supplemental Material: The online appendices are available at https://doi.org/10.1287/orsc.2022.17024
Creating and applying the Ecosystem Pie Model as a design theory
No full textInnovation ecosystems have become pivotal phenomena in a world of increasing specialization and complexity, in which single ventures cannot develop and commercialize technology-driven value propositions alone. In this setting, various firms and other actors need to work together in creating and building an innovation ecosystem around a shared value proposition. The Ecosystem Pie Model (EPM), published in Long Range Planning in 2020, is the first comprehensive tool for mapping and assessing the risk profile of a prospective innovation ecosystem. We describe, and reflect on, how the so-called design theory underlying the EPM was developed. This design theory includes its key constructs, design principles, visual instantiation, detailed application guidelines, and assessment of how mutable its applications are. The initial design theory was used to develop more than 240 ecosystem constellations to assess its applicability and mutability. We also outline various applications of EPM design theory by others. Overall, this paper contributes to the entrepreneurship and innovation literature by developing a complete design theory, one that covers the entire spectrum from theoretical underpinnings to detailed application guidelines and an initial body of applications.(European Commission
Rising Star Monitor 2025: Decoding how fit young scale-ups are for future growth
No full textThe tenth edition of the Rising Star Monitor, an annual study by Deloitte Belgium in collaboration with the Vlerick Centre for Excellence in Scale-ups, once again charts how Belgian scale-ups are performing on crucial growth capabilities such as governance, finance, sales, talent, digitalisation and AI. This year, a clear paradox emerges: scale-ups have strong products, but suffer from structural organisational weakness that hinders their scalability. Although 37% of young companies aim for rapid growth, they score on average 17 points lower than SMEs on organisational maturity. In particular, governance, talent management, financial planning and the scalability of sales and operations are lagging behind, leaving a lot of potential untapped
Handbook of research on scaling and high-growth firms
No full textThis pioneering Handbook explores the nature of scaling and high growth. It identifies specific patterns and strategies, and discusses important drivers and determinants of high growth, presenting a state-of-the-art overview of existing research and introducing crucial new insights into the field, both for academics and scaleup entrepreneurs, advisors and ecosystem stakeholders
The Palgrave Handbook of Change and Resilience at Work
No full textTechnological advancements, changing work patterns, and the need for more flexible employment options have given rise to gig work (Petriglieri et al., Administrative Science Quarterly, 64(1):124–170, 2019). Gig workers engage in externalized paid work organized around projects or tasks that are typically limited in time, without holding a formal appointment within a particular organization (Caza et al., Human Relations, 75(11):2122–2159, 2022). Studies estimate that gig workers represent around 14 percent of the workforce in OECD countries and will continue to rise in the decades to come (OECD, Employment outlook 2019: The future of work, OECD Publishing, 2019). Research showed that workers face multiple challenges in the gig economy, including viability, identity, relational, emotional, and career-related challenges (Caza et al., Human Relations, 75(11):2122–2159, 2022). These challenges underscore the need for building resilience to respond to setbacks. Prior research highlighted various strategies that help workers cope with their challenges, with less attention paid to workers’ distancing strategies, that is, strategies aimed at creating psychological, emotional, or physical space from targets to enhance workers’ resilience and face the challenges of the gig economy. In this chapter, we adopt a boundary theory lens (Langley et al., Academy of Management Annals, 13(2):704–736, 2019) and review the nascent body of research on gig work to highlight workers’ distancing strategies through setting boundaries to build resilience and mitigate the challenges of the gig economy. We conclude by outlining a future research agenda aimed at enhancing our understanding of the new world of work
Integrating Forecasting and Inventory Decisions Using Machine Learning
No full textCan inventory ordering decisions be improved by integrating forecasting and inventory decisions using machine learning? That is the question addressed in this study of three large Belgian companies in the food industry. Van der Haar, Sagaert, and Boute investigate the performance of methods that predict optimal order quantities directly, instead of !rst forecasting and then calculating optimal inventory quantities. Their results show that using an integrated approach can lead to substantial cost savings for smoother time series, yet the opposite holds when applying it to erratic and lumpy time series
Financial versus strategic buyer interest: initiation, competition and persistence during the private bidding process
No full textPurpose This paper aims to explore how target firm attributes affect the interest and persistence of financial versus strategic bidders in the private stages of a corporate takeover process. We study strategic and financial bidder attraction from deal initiation onwards, as such it is unaffected by deal process characteristics or pricing strategies. Design/methodology/approach Relying on the Edgar filings published by the U.S. Securities and Exchange Commission (SEC), we hand-collected the number of strategic and financial bidders in each stage of the private bidding process for a sample of 606 takeovers announced between 2005 and 2016. To assess bidder interest, we use three proxies: bidder initiation, bidder competition in the private bidding process, and bidder persistence throughout the entire bidding process. In addition, we compare acquired targets to a matched control group of non-targets. Findings Our results indicate that financial bidders, compared to strategic bidders, are more likely to display interest across the various private deal stages in targets with low market-to-book ratios, high cash flow generation and low R&D expenses. Financial buyers, hence, are particularly attracted when targets offer stand-alone value improvement potential or are undervalued, when cash flow generation allows for exploiting the benefits of debt financing and when technological innovation is low. Originality/value This paper is the first to investigate strategic versus financial bidder interest in the private phases of the M&A process, allowing us to explore true interest in specific targets rather than the outcome of a competitive deal process. Our results provide valuable insights into how targets’ antecedents attract both types of bidders
Compulsory Licensing as an Instrument to Tackle High Medicine Prices: A Realist Review of Industrial and Health Consequences
No full textAlthough compulsory licensing of medicines is traditionally discussed in the context of low- and middle-income countries tackling high prices, it has recently sparked debate in several high-income countries. This study aims to examine the industrial and health consequences of compulsory licensing when applied by a high-income country. Our literature review found that the impact of compulsory licensing is challenging to predict as it can have multiple (opposing) consequences in terms of economic activity, patient outcomes and public health. Compulsory licensing can, under particular circumstances, serve as a lever of industrial policy in a country that wishes to develop its domestic generic pharmaceutical industry. However, originator pharmaceutical companies and other industries may reduce investment, which can be negative for countries with a high presence of innovators, adversely impacting long-term economic activity. Compulsory licensing may also induce state retaliation against the license-issuing country. From a health policy perspective, compulsory licensing likely increases patient access to expensive medicines and frees up resources that can be invested in other (health) programs. However, pharmaceutical companies may delay medicine launches or cancel clinical trials in the license-issuing country. Although there are benefits resulting from a credible threat to use compulsory licensing, the overall desirability of actually using it depends on the specific context and needs to be assessed on a case-by-case basis.(Belgian Health Care Knowledge Centre|KCE_HSR 2020-50
How top dogs negotiate: Nestlé Purina Petcare and Amazon Europe
No full textEvaluating Nestlé Purina PetCare's negotiation strategy and tactics, and preparation for the negotiation. Understanding the complexity of negotiating in a turbulent market where both parties occupied a dominant role in their market segments. Considering key challenges in digital strategy, ecosystem development and sustainability initiatives and their potential impact on negotiation preparation, negotiation strategy, and execution.This case provides insight into the complexities of online negotiations between two global market leaders about pricing and terms in the context of a turbulent environment. It requires students to put themselves in the position of the Nestlé Purina PetCare negotiation team who had to negotiate pricing and terms with Amazon Europe. Students have to discuss which of three options for its future to commence the negotiations with, which strategy to kick off the negotiations with, under what circumstances to adapt it and what tactics to apply. Students are also challenged to discuss the impact of the negotiation outcomes on Nestlé Purina PetCare's commitment to sustainability, its digital strategy and development of its pet care ecosystem