1,721,000 research outputs found
A Matter of Location: The Role of Regional Social Capital in Overcoming the Liability of Newness in R&D Acquisition Activities
No full textExternal knowledge acquisition represents a precondition for firms’ competitive advantage. However, young firms find it particularly difficult to gain access to external sources of knowledge: young firms suffer from a liability of newness by exhibiting significantly lower propensities to invest in external R&D than their older counterparts. We explore the role of geographically bound social capital in moderating this liability. By employing a Nested Logit approach, our findings show that geographically bound social capital moderates the liability of newness related to R&D acquisition, suggesting that the liability exists only in regions associated with low levels of social capital
A Matter of Location: The Role of Regional Social Capital in Overcoming the Liability of Newness in R&D Acquisition Activities
No full textHow much are flexibility and uncertainty worth in patent licensing?
No full textAs patent licensing has become the prime driver of technology trade, understanding the rationales behind a properly-defined payment structure of the agreements is essential. Specifically, among the other remuneration components, upfront fees are critical in license negotiations since they imply a significant initial investment y the licensee and represent a source of liquidity for the licensor. We investigate how contractual flexibility, market uncertainty and technical uncertainty shape pfront fees from the licensee’s perspective. Upfront fees are shown to be positively associated with contractual flexibility and market uncertainty, while technical ncertainty is positively associated with upfront fees only if the license warrants contractual flexibility to the licensee. Licensees therefore do not necessarily see ncertainty as a negative attribute of a patent license, but rather as a potential value, above all if in presence of contractual flexibility
License to learn: an investigation into thin and thick licensing contracts
No full textThis article introduces the distinction between thin and thick contracts to the investigation of licensing-in as a mechanism for technological learning. Thick contracts include a clause specifying that the licensors are obligated to assist the licensees in assimilating and integrating the technology. Drawing on a sample of 133 licensees and an equal number of matched non licensees, we present empirical evidence that thick contracts propel the licensees’ likelihood of introducing new inventions. It is also found that thick contracts act as a substitute for licensees’ absorptive capacity. Licensees that are more familiar with the
licensed technology are in less need of assistance from the licensors to assimilate and integrate the knowledge. However, this substitution effect is neutralized once the hurdle of invention has been overcome, meaning that the licensees have succeeded to ignite the invention process, suggesting the exploitation of the learning curve, triggered by their mutual understanding
Evading the Boomerang Effect: Using the Grant-Back Clause to Further Generative Appropriability from Technology Licensing Deals
No full textTechnology licensing agreements potentially can create future appropriabilityproblems. Drawing on the appropriability literature, we argue that the inclusion of a grantback clause in technology licensing agreements is an attempt to balance the gains from and protection of the focal firms’ technologies. We hypothesize that the closer the licensed technology is to the licensor’s core patented technologies, the more likely the licensing agreement will include a grant-back clause, while the closer the licensed technology is to the licensee’s core patent portfolio, the less likely the agreement will include a grant-back clause. We hypothesize also that technological uncertainty is a positive moderator in the decision to include a grant-back clause, if the licensed technology is close to either the licensee’s or the licensor’s core technologies. We employ a hierarchical nested decision model to test the hypotheses on a sample of 397 licensed technologies. This method allows us to model the choice to include a grant-back clause as nested in the decision about which technologies to license out. We find broad support for our theoretical arguments
Gender disparities in entrepreneurial finance: the overlooked demand side
No full textDOTTORATOQuesta tesi analizza le disparità di genere nel finanziamento imprenditoriale e si compone di tre articoli. Il primo articolo è una revisione sistematica della letteratura di riferimento. Il secondo utilizza approcci sperimentali per indagare i comportamenti omofili per genere degli imprenditori nella ricerca di investimenti nelle fasi iniziali. Il terzo approfondisce i meccanismi e le condizioni di contesto che influenzano l’omofilia di genere degli imprenditori verso gli investitori, identificando e analizzando possibili moderatori a livello individuale, organizzativo e istituzionale.
Il primo articolo, una revisione sistematica della letteratura, chiarisce i fattori che determinano le disparità di genere nel finanziamento imprenditoriale, i meccanismi teorici sottostanti e le condizioni di contesto che le amplificano o mitigano. Applicando un metodo rigoroso, sono stati identificati 123 articoli pubblicati in 54 riviste scientifiche di alta qualità dal 1988 all’aprile 2023. Viene proposto un quadro concettuale per sistematizzare la letteratura, articolato su tre dimensioni: i diversi canali di finanziamento utilizzati dagli imprenditori, i lati dell’offerta e della domanda nei mercati finanziari, e i livelli di analisi micro, meso e macro. Il quadro evidenzia lacune critiche nella letteratura e suggerisce direzioni future per la ricerca. Le imprenditrici tendono spesso a evitare finanziamenti esterni a causa della carenza di capitale umano e sociale e dello stereotipo pervasivo che vede l’imprenditorialità come un ambito maschile. Coloro che cercano finanziamenti possono riceverne meno del necessario o subire rifiuti dovuti a discriminazioni di tipo gusti-personali o statistico da parte dei finanziatori. Inoltre, condizioni di contesto come la dimensione aziendale, i cicli economici, fattori istituzionali e canali alternativi di finanziamento possono attenuare o peggiorare le disparità di genere, ma sono spesso trascurate. Mentre la letteratura ha studiato ampiamente il lato dell’offerta a livello individuale, servono ulteriori ricerche per comprendere i fattori dal lato della domanda che portano le imprenditrici a rinunciare, ricevere meno fondi o affrontare rifiuti. Anche i fattori a livello meso (es. dinamiche organizzative) e macro (es. uguaglianza di genere, sviluppo dei mercati) e le loro interazioni con i fattori micro rimangono poco esplorati.
Il secondo articolo si basa sulle teorie dell’omofilia di genere e del modello di contenuto degli stereotipi per esaminare come gli effetti di genere influenzano le percezioni e i comportamenti delle imprenditrici nel contesto del finanziamento early-stage rispetto a un contesto neutro. Studi precedenti suggeriscono che l’omofilia di genere incide significativamente sulle decisioni di finanziamento delle investitrici verso imprese guidate da donne. Si ipotizza che anche le imprenditrici, come le investitrici, mostrino una preferenza per relazioni con persone dello stesso genere, in linea con il principio che individui simili tendono a interagire più frequentemente tra loro (McPherson et al., 2001). Per testare questa ipotesi è stato condotto un esperimento con vignette su un campione di 393 aspiranti o attuali imprenditori/e residenti negli Stati Uniti (51,4% uomini e 48,6% donne). I risultati confermano l’ipotesi: le imprenditrici mostrano una preferenza più marcata per contesti in cui vi è una maggiore presenza di investitrici, rispetto a un contesto neutro. Inoltre, sono più propense a entrare in contatto con investitrici e ad accettare le loro offerte, anche controllando per la percezione della competenza e del calore delle investitrici. Questi risultati indicano che la scarsità di investitrici contribuisce alle disparità di genere nell’imprenditorialità: la predominanza di business angel uomini, unita alla preferenza delle imprenditrici per relazioni con donne, può portarle ad auto-escludersi dal finanziamento tramite business angel.
Il terzo articolo si basa sul medesimo esperimento del secondo, con variazioni nel campione e nel focus analitico. Più precisamente, sono stati analizzati 338 imprenditori/e attuali residenti negli Stati Uniti (49,7% uomini e 50,3% donne). L’articolo indaga i meccanismi che guidano la preferenza delle imprenditrici verso investitrici e analizza le condizioni di contesto a livello individuale, organizzativo e istituzionale. In particolare, l’inclinazione delle imprenditrici verso le investitrici deriva sia da preferenze personali sia da considerazioni razionali: si aspettano una comunicazione e un coordinamento più fluidi, ma riconoscono anche il rischio di essere stigmatizzate come meno competenti. I risultati mostrano che l’effetto di omofilia si indebolisce quando le imprenditrici conoscono già gli investitori, il che consente loro di comunicare e coordinarsi efficacemente indipendentemente dal genere, oppure quando le loro imprese generano già ricavi, segnalando così validità e legittimità. Al contrario, la preferenza per l’omofilia si rafforza negli Stati con una maggiore rappresentanza di investitrici, poiché le imprenditrici percepiscono una maggiore legittimità nel ricevere investimenti da donne. Inoltre, l’impatto negativo del mancato accesso a capitale aggiuntivo si riduce quando sono presenti più investitrici disponibili a supportare successivi round di finanziamento.This dissertation studies gender disparities in entrepreneurial finance and consists of three papers. The first paper systematically reviews the focal literature. The second paper employs experimental approaches to investigate entrepreneurs’ gender homophilic behaviours when seeking early-stage investments. The third paper delves into the mechanisms and boundary conditions of entrepreneurs’ gender homophily towards investors, identifying and analyzing potential moderators at the individual, organizational, and institutional levels.
The first paper is a systematic literature review, elucidating the drivers of gender disparities in entrepreneurial finance, the theoretical mechanisms underlying and the boundary conditions that amplify or mitigate them. By applying a robust method to identify 123 papers published in 54 high-quality journals from 1988 to April 2023, we propose a conceptual framework to systematize this literature. The framework considers three dimensions: the various financial channels entrepreneurs utilize, the supply and demand sides of the financial markets, and the micro, meso, and macro levels of analysis. This framework highlights critical gaps in the literature and suggests future research directions. Female entrepreneurs often avoid external financing due to a lack of human and social capital and the pervasive stereotype that entrepreneurship is male-dominated. Those who seek funding may receive less than desired or face rejection due to taste-based or statistical discrimination by capital providers. Besides, boundary conditions, such as business size, economic cycles, institutional factors, and alternative financing channels, may alleviate or exacerbate gender disparities but are often overlooked. While scholars have extensively studied the supply side at the individual level, more research is needed to understand the demand-side factors that lead female entrepreneurs to opt out, receive less funding, or face rejection. Additionally, meso-level factors (e.g., organizational dynamics) and macro-level factors (e.g., gender equality, market development) and their interactions with micro-level factors remain underexplored.
The second paper draws on the theoretical lenses of gender homophily and the stereotype content model to examine how same-gender effects influence female entrepreneurs’ perceptions and behaviors in the context of early-stage financing compared to a neutral context. Existing studies suggest that gender homophily significantly impacts female investors’ funding decisions in female-led businesses. We hypothesize that female entrepreneurs, like female investors, exhibit a preference for same-gender relationships, as homophily suggests that similar individuals interact more frequently than dissimilar ones (McPherson et al., 2001). To test our hypotheses, we conducted a vignette experiment with 393 US-based prospective or current entrepreneurs (51.4% men and 48.6% women). The results support our hypothesis: female entrepreneurs exhibit stronger preferences for environments with higher female investors’ presence in the early-stage financing context compared to a neutral context. Moreover, they are more likely to initiate contact with female investors and accept their offers, even after controlling for their perception of investors’ warmth and competence. These findings suggest that the scarcity of female investors contributes to gender disparities in entrepreneurship. The predominance of male business angels, combined with female entrepreneurs’ same-gender preferences, may lead female entrepreneurs to self-select out of business angel financing.
The third paper builds on the same experiment as the second paper, with variations in the sample and analytical focus. More specifically, 338 US-based current entrepreneurs (49.7 men and 50.3% women) were included. It investigates the mechanisms driving female entrepreneurs’ preference for same-gender investors and explores boundary conditions at the individual, organizational, and institutional levels. More specifically, female entrepreneurs’ inclination toward female investors stems from both personal preferences and rational considerations. They expect smoother communication and coordination with same-gender investors, but this same-gender partnership may come with the risk of being stigmatized as less competent. The results demonstrate that the gender homophily effect weakens when female entrepreneurs have known investors, thus enabling them to communicate and coordinate effectively with investors regardless of gender, or when their businesses are already generating revenue, thereby signaling their viability and legitimacy. Conversely, their gender homophily preference for investors strengthens in states with a higher representation of female investors, as female entrepreneurs perceive greater legitimacy when receiving investments from female investors. Moreover, the negative impact of not securing additional capital diminishes if there are more female investors available to support subsequent funding rounds.DIPARTIMENTO DI INGEGNERIA GESTIONALE35CANIATO, FEDERICO FRANCESCO ANGELOARNABOLDI, MICHEL
Firm Growth Rate Distributions, Firm Size Distributions and the Industry Life Cycle:Combining Evolutionary Simulation and Empirical Analysis
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Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
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