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Playing catch-up: how less developed nations can jump-start technology innovation
No full textInternational audienceThis study aims to investigate the historical technological catch-up processes with particular attention to the role of windows of opportunity (WoO). As Industry 4.0 becomes the benchmark of many latecomer countries, this paper may provide guidelines to both policymakers and business practitioners. For clarifying how to catch up with the incumbents and leaders, the authors summarize the lessons based on the historical observations to conclude the pathways for latecomers who aim to reduce the gaps to leaders and manage catch-up. This study enriches the literature of catch-up from a holistic view with fresh insights into how and where to catch up
Risk-adjusted performance of portfolio insurance and investors’ preferences
No full textInternational audienceThis paper draws a clear line between investors’ risk preferences and their choice of either Option Based Portfolio Insurance (OBPI) or Constant Proportion Portfolio Insurance (CPPI). For this purpose, OBPI and CPPI are compared using partial-moments-based risk-adjusted performance measures, which are adequate for comparing asymmetric return distributions and can be easily tailored to reflect investors’ preferences. The analysis covers expected utility and prospect utility investors, among others, and the results show investors’ risk preferences in the gain domain are the key determinants of the choice between OBPI and CPPI
An organizational capability perspective on multi-unit franchising
No full textInternational audiencePrevious research on multi-unit franchising (MUF) has primarily focused on agency and transaction cost perspectives. The present study develops and tests an organizational capability (OC) model of the franchisor’s choice of MUF. According to the OC view, the franchisor gains a competitive advantage by exploration and exploitation of firm-specific resources and capabilities. We hypothesize that, if the franchisor expects to obtain a competitive advantage resulting from higher exploration and exploitation capabilities when using MUF as opposed to single-unit franchising, the franchisor will more likely choose MUF as a governance mode of the franchise system. Based on empirical data from the German and Swiss franchise sectors, the results of the regression analysis support these hypotheses. Our main contribution to the franchise literature is the development of an OC model of the franchisor’s choice of MUF that complements the existing organizational economics explanation of MUF
Technology-enabled community data for gaining pre-release brand insights
No full textInternational audienceIn the past, studies have investigated brand equity only in the ‘post-launch’ context, hence missing opportunities to make early corrections in cases of negative favourability. Using technology-enabled online community data, this study examines whether ‘pre-launch’ brand favourability can predict community's post-launch purchase decisions, by introducing a new construct called community-based brand equity (CoBBE). This study also investigates whether CoBBE can predict future sales of new products. Weekly data are collected for eight weeks before and after product launch from a movie-based online community for a period of 16 months. The results show that community-based variables such as pre-launch brand awareness level, brand favourability and brand strength have a significant influence on 1) community members' post-release purchase decisions both in the opening week as well as the entire lifetime of products, and 2) satisfaction level. The study also finds that CoBBE is a significant predictor of future market sales, thus showing the usefulness of CoBBE as an early warning diagnostic tool which will enable movie studios to gain early brand-related insights as well as to make early corrective actions when needed
Easy to read, easy to cite?
No full textInternational audienceEase of readability of Economics Letters abstracts, and number of works cited in an article, is positively related to future citations. Readability appears to particularly matter for mathematical and quantitative methods and macroeconomics papers, while number of works cited is generally important across all articles
Innovative Entrepreneurial Knowledge-based Business Ecosystems: Old Wine in New Bottles?
No full textInternational audienceRooted in the territorial approach, this theoretical paper offers a systematic literature review (SLR) of ecosystems based on a selection of 104 articles and books and their archetypes. First, we identify and discuss the four main types of ecosystems – business, innovation, entrepreneurial, and knowledge ecosystems – and indicate the presence of other transversal concepts. Second, we provide an overview of related and well-established theories from the territorial approach that have been largely omitted although they are ecosystem archetypes. Third, we identify the invariants across the four diverging streams from the ecosystem approach and the seven diverging streams from the territorial approach. Finally, we propose a research framework based on the comparison between key invariants from both approaches and discuss their similarities and differences that could serve as a foundation for future empirical research. This study therefore links the ecosystem and territorial approaches under the complex evolutionary system umbrella by creating a theoretical framework that reflects the complex interconnection between models, theories, and emerging concepts
Bank value and geographic diversification: regional vs global
No full textInternational audienceThis paper analyzes the impact of geographic diversification on bank value by employing a data set comprising the largest banks across the world, originating from both developed and emerging countries. The findings suggest that the value impact of international diversification depends on a bank's home country: higher levels of diversification are associated with changes in valuations only for banks originating from emerging countries. In addition, the locus of destination of the diversification efforts matters for the direction of effects: while higher levels of intra-regional diversification lead to value enhancement, higher levels of inter-regional diversification seem to induce a negative (but statistically less robust) effect on the valuation of emerging country banks
Pre-launch Prediction of Market Performance for Short Lifecycle Products Using Online Community Data
No full textInternational audiencePrediction of sales for short life-cycle products can be problematic. Generic predictive models based on past launches may provide only crude historic data which are unsuited for distinctive, innovative products. This paper investigates the role of online communities in providing pre-launch data to predict post-launch sales. We argue that levels of awareness, word-of-mouth, expectations, and adoption intention prevailing within an online community for an upcoming product have an independent direct effect on the product's future sales. Additionally, we test the complementarity effect of these community variables by introducing a higher order construct called Pre-release Community Buzz, to demonstrate the incremental explanatory power of using pre-launch community variables to predict post-launch sales. Data for community variables were collected from a movie-based online community, and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). We found strong support for both direct and complementarity effects of community variables in predicting a movie's opening week sales. We also found that community variables mediate the effects of generic predictor variables such as MPAA ratings, star cast, production budget and competition on opening week sales. Tests for robustness demonstrated the value of community variables. Models which included community variables had higher predictive power than those without. Implications for theory and practice are presented
Knowledge transfer in alliances: the moderating role of the alliance type
No full textInternational audienceWe analyse how the impact of determinants of inter-firm knowledge transfers in alliances can be moderated by the proximity of the resources pooled by partners. Six factors are examined: relative absorptive capacity (RAC), inter-partner trust, cultural distance between allies, knowledge ambiguity, knowledge protection, and the partners’ learning intent. We distinguish alliances mobilizing similar resources by partners (called ‘endogamies’ as allies build on their similarities) from alliances pooling different resources (called ‘exogamies’ as allies build on their differences). We propose that: (a) the impact of RAC on knowledge transfers is reinforced in exogamies, but reduced in endogamies; (b) the knowledge ambiguity and cultural distance effect is less in endogamies than in exogamies; (c) the trust and knowledge protection impact is stronger in exogamies than in endogamies; (d) the learning intent impact on knowledge transfers is similar in endogamies and exogamies
Free-riding in multi-party alliances: The role of perceived alliance effectiveness and peers' collaboration in a research consortium
No full textInternational audienceMulti-party alliances rely on partners' willingness to commit and pool their efforts in joint endeavors. However, partners face the dilemma of how much to commit to the alliance. We shed light on this issue by analyzing the relationship between partners' free-riding-defined as their effort-withholding-and their perceptions of alliance effectiveness and peers' collaboration. Specifically, we posit a U-shaped relationship between partners' subjective evaluations of alliance effectiveness and their free-riding. We also hypothesize a negative relation between partners' perceptions of the collaboration of peer organizations and their free-riding. Results from a mixed-method study-combining regression analysis of primary data on a major inter-organizational research consortium and evidence from two experimental designs-support our hypotheses, bearing implications for the multi-party alliances literature. Managerial summary: Free-riding is a major concern in multi-party alliances such as large research consortia, since the performance of these governance forms hinges on the joint contribution of multiple partners that often operate according to different logics (e.g., universities, firms, and government agencies). We show that, in such alliances, partners' perceptions have relevant implications for their willingness to contribute to the consortium's shared goals. Specifically, we find that partners free-ride more-that is, contribute less-when they perceive the effectiveness of the overall alliance to be either very low or very high. Partners also gauge their commitment to the alliance on the perception of the effort of their peers-that is, other organizations similar to them. These findings provide managers of multi-party alliances with additional levers to motivate partners to contribute fairly to such joint endeavor