Browsing Working Papers (SMG) by Title
Now showing items 1-20 of 123
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Pedersen, Torben (Frederiksberg, 2009)[More information][Less information]
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How To Realize Its Potential in the Organization FieldVolberda, Henk W.; Foss, Nicolai J.; Lyles, Marjorie A. (Frederiksberg, 2009)[More information][Less information]
Abstract: The purpose of this Perspective Paper is to advance understanding of absorptive capacity, its underlying dimensions, its multi-level antecedents, its impact on firm performance and the contextual factors that affect absorptive capacity. Nineteen years after the Cohen and Levinthal 1990 paper, the field is characterized by a wide array of theoretical perspectives and a wealth of empirical evidence. In this paper, we first review these underlying theories and empirical studies of absorptive capacity. Given the size and diversity of the absorptive capacity literature, we subsequently map the existing terrain of research through a bibliometric analysis. The resulting bibliometric cartography shows the major discrepancies in the organization field, namely that (1) most attention so far has been focused on the tangible outcomes of absorptive capacity; (2) organizational design and individual level antecedents have been relatively neglected in the absorptive capacity literature; and (3) the emergence of absorptive capacity from the actions and interactions of individual, organizational and inter-organizational antecedents remains unclear. Building on the bibliometric analysis, we develop an integrative model that identifies the multi-level antecedents, process dimensions, and outcomes of absorptive capacity as well as the contextual factors that affect absorptive capacity. We argue that realizing the potential of the absorptive capacity concept requires more research that shows how “micro antecedents” and “macroantecedents” influence future outcomes such as competitive advantage, innovation, and firm performance. In particular, we identify conceptual gaps that may guide future research to fully exploit the absorptive capacity concept in the organization field and to explore future fruitful extensions of the concept. URI: http://hdl.handle.net/10398/7955 Files in this item: 1
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Linder, Stefan; Foss, Nicolai J. (Frederiksberg, 2013)[More information][Less information]
Abstract: Agency theory studies the problems and solutions linked to delegation of tasks from principals to agents in the context of conflicting interests between the parties. Beginning from clear assumptions about rationality, contracting and informational conditions, the theory addresses problems of ex ante (“hidden characteristics”) as well as ex post information asymmetry (“hidden action”), and examines conditions under which various kinds of incentive instruments and monitoring arrangements can be deployed to minimize the welfare loss. Its clear predictions and broad applicability have allowed agency theory to enjoy considerable scientific impact on social science; however, it has also attracted considerable criticism. [99 words] URI: http://hdl.handle.net/10398/8693 Files in this item: 1
Linder_Foss_SMGWP2013_7.pdf (759.4Kb) -
Complementary Explanations for Subsidiary Power in Multinational CorporationsMudambi, Ram; Pedersen, Torben (København, 2007)[More information][Less information]
URI: http://hdl.handle.net/10398/7472 Files in this item: 1
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Foss, Nicolai J.; Klein, Peter G. (Frederiksberg, 2010)[More information][Less information]
Abstract: This paper offers a critical perspective on Israel Kirzner’s basic analytical framework. Specifically, we characterize Kirzner’s emphasis on processes of equilibration as a departure from the causal-realist price theory developed by Menger and his nineteenth- and twentieth-century followers. In this context, we contrast Kirzner’s interpretation of entrepreneurship as discovery with a more realistic, and operationally meaningful, idea of entrepreneurship as action. Finally, we discuss an inconsistency in Kirzner’s treatment of the antecedents of entrepreneurial behavior. URI: http://hdl.handle.net/10398/8029 Files in this item: 1
CBS_Forskningsindberetning_SMG_247.pdf (249.8Kb) -
An empirical investigation into the alliance capability development processHeimeriks, Koen H.; Duysters, Geert (København, 2005)[More information][Less information]
Abstract: This study centers around the way in which firms can enhance alliance performance through the development of alliance capabilities. Whereas most research has focused on inter-firm antecedents of alliance performance, research on intra-firm antecedents pointing to prior experience and internal mechanisms to foster knowledge transfer has only recently emerged. As little is known about how firms develop alliance capabilities, this study aims to uncover how differences in sources of alliance capability development explain performance heterogeneity. The data come from a detailed survey held among alliance managers and Vice-Presidents of 151 firms. The survey covers over 2600 alliances for the period 1997-2001. This study not only finds that alliance capabilities partially mediate between alliance experience and alliance performance, but also yields novel insights into the micro-level building blocks underlying the process of alliance capability development. Key words: alliances, learning, knowledge transfer, alliance experience. JEL classification: L14 URI: http://hdl.handle.net/10398/7436 Files in this item: 1
smg-wp-12-2005.pdf (436.2Kb) -
Foss, Nicolai J. (København, 2009)[More information][Less information]
Abstract: The emergence over the last two decades or so of "knowledge” as an important part of the explanatory structure of management research is an intellectual breakthrough that is comparable in terms of its transforming impact to the behavioral revolution of the 1960s. A veritable "knowledge movement” has emerged that spans several fields in management. I take stock on alternative research strategies with that movement, distinguishing between "capabilities first”, "networks first” and "individuals first” strategies. Reasons are given why more research attention need to be allocated to the latter strategy if the knowledge movement is to continue making progress, but that the aim should ultimately be to reach towards multi-level research that combines aggregate constructs with top-down processes and bottom-up processes. URI: http://hdl.handle.net/10398/7449 Files in this item: 1
smg wp 2009-01.pdf (238.2Kb) -
Schneider, Cédric (Frederiksberg, 2010)[More information][Less information]
Abstract: This paper describes and analyzes the occurrence and extent of oppositions initiated against plant biotechnology patents granted by the European Patent Office (EPO). The opposition mechanism is a legal procedure that allows any third party to challenge the validity of patents awarded by the EPO. Results indicate that the opposition rate is far greater in plant biotechnology than in other emerging industries. Consistent with theoretical predictions, the empirical findings suggest that opposed patents are disproportionately those that score high on features that proxy for their “value” or “quality”. In contrast to previous findings, however, the results show that large-volume applicants are more likely to be opposed. Because the boundaries of plant biotech patents are ill-defined, large patent portfolios do not promote cooperative behavior such as licensing or settlements. The analysis rejects the hypothesis that awardees are subject to “nuisance” or “frivolous” oppositions. Instead, the opposition procedure serves as an error correction mechanism. URI: http://hdl.handle.net/10398/8220 Files in this item: 1
wp6-2010.pdf (208.9Kb) -
M&A practices as a key instrument to improve M&A integrationHeimeriks, Koen H.; Zollo, Maurizio; Gates, Stephen (København, 2006)[More information][Less information]
Abstract: While firms increasingly rely on mergers and acquisitions as a key growth instrument, many firms have difficulty successfully integrating the target. To counter the disappointing statistics, some firms like IBM and Xerox use M&A practices that capture learnings to improve M&A integrations. Comparing occasional with master acquirers, we find that those that make effective use of such M&A practices increase their chances of success with up to 24%. While there are plenty of reasons for M&A integrations to fail, we derive four key lessons that give master acquirers a leading edge over their occasional counterparts. The findings are based on survey data by 101 firms engaged in 2,447 integrations over the past decade and one dozen expert interviews. The conclusions are based using case examples of master M&A integration practices from six master acquirers IBM, Xerox, Home Depot, Dow Chemical, GE Capital Finance and SC Johnson. JEL code: G34 URI: http://hdl.handle.net/10398/7478 Files in this item: 1
smg 2006-019 koens wp.pdf (95.82Kb) -
Abell, Peter; Felin, Teppo; Foss, Nicolai (København, 2007)[More information][Less information]
Abstract: Micro-foundations have become an important emerging theme in strategic management. This paper addresses micro-foundations in two related ways. First, we argue that the kind of macro (or "collectivist”) explanation that is utilized in the capabilities view in strategic management - which implies a neglect of micro-foundations - is incomplete. There are no mechanisms that work solely on the macro-level, directly connecting routines and capabilities to firm-level outcomes. While routines and capabilities are useful shorthand for complicated patterns of individual action and interaction, ultimately they are best understood at the micro-level. Second, we provide a formal model that shows precisely why macro explanation is incomplete and which exemplifies how explicit micro-foundations may be built for notions of routines and capabilities and for how these impact firm performance. Keywords: Routines, capabilities, micro-foundations, production function. JEL Code: L2, M1 URI: http://hdl.handle.net/10398/7474 Files in this item: 1
wp smg 69.pdf (300.6Kb) -
Juul Andersen, Torben (København, 2005)[More information][Less information]
Abstract: Previous research found that capital structure affects performance when it is adapted to the level of environmental dynamism and pursuit of an innovation strategy. The current study reproduces some of these relationships in a more recent dataset but also identifies significant nuances across industrial environments. Analyses of a large cross sectional sample and various industry sub-samples suggest that other factors have influenced capital structure effects in recent years including flexibilities in multinational organization and effective strategic risk management capabilities. URI: http://hdl.handle.net/10398/7440 Files in this item: 1
smg wp 2005-002.pdf (601.2Kb) -
A Learning PerspectiveLyles, Marjorie A.; Pedersen, Torben; Petersen, Bent (København, 2005)[More information][Less information]
Abstract: The study explores how firms close their knowledge gaps in relation to business environments of foreign markets. Potential determinants are derived from traditional internationalization process theory as well as more recent literature on organizational learning processes, including the concept of absorptive capacity. Building on these two literature streams a conceptual model is developed and tested on a set of primary data of Danish firms and their foreign market operations. The empirical study suggests that factors considered essential in traditional internationalization process theory, such as experiential learning, explains only a very limited part of perceived knowledge gaps. When factors pertaining to the concepts of absorptive capacity and superstitious learning are added, the explanatory power improves significantly. Apparently, our understanding of firms’ internationalization processes can be enriched by insights from organizational learning literature. Key words: Internationalization, knowledge gap, absorptive capacity, superstitious learning. JEL Codes: D21, F23, M10 URI: http://hdl.handle.net/10398/7434 Files in this item: 1
cbs forskningsindberetning smg 26.pdf (671.8Kb) -
Knudsen, Line Gry; Nielsen, Bo Bernhard (København, 2008)[More information][Less information]
Abstract: Collaborative capability has predominantly been conceptualized and analyzed from a firm-level perspective, paying inadequate attention to the individual level mechanisms that enable this ability to develop and flourish. Utilizing the dynamic capabilities perspective, we suggest that antecedents of collaborative capabilities can be found at the organizational and individual level. Hence, this study examines the role of collaborative capability in R&D alliances with particular focus on the interplay between organizational and individual level mechanisms. We explore the development of Novozymes’ "Partnering Project” and show how individual level factors work in concert with organizational level mechanisms in creating collaborative capability. Based on the in-depth case study and a review of the extant literature, we propose a framework for explaining the multi-dimensional nature of collaborative capabilities in R&D alliances and show how firms can benefit from increased attention to the interaction between individual and organizational level issues when designing R&D alliances. URI: http://hdl.handle.net/10398/7420 Files in this item: 1
smg wp 2008-10.pdf (856.9Kb) -
Nell, Philip C.; Andersson, Ulf (Frederiksberg, 2012)[More information][Less information]
Abstract: Many studies have focused on the effects of MNC subsidiaries’ external relational embeddedness. Little attention has been given to its antecedents and especially to the potential effect that the business network context might have. We try to fill this gap and attempt to explain variation among subsidiaries’ degree of relational embeddedness. Our results show a strong and robust effect of the business network context -- i.e. the network context in which the direct business relationships between the subsidiary and its partners are embedded -- on the degree of relational embeddedness. However, contrary to previous literature, we find an inverted u-shaped relationship. We discuss our findings with regard to the issue of over-embeddedness and the literature on the strength of weak versus strong ties. URI: http://hdl.handle.net/10398/8402 Files in this item: 1
Philip_Nell_SMG_WP.pdf (202.1Kb) -
An econometric study of an Italian bankGritti, Paola; Foss, Nicolai J. (København, 2007)[More information][Less information]
Abstract: We empirically address how customer satisfaction and loyalty in the banking industry may affect profitability. This helps to identify the strategy and competencies necessary to benefit from customer relationships which are important sources for improved performance in the banking. We do this by analyzing data collected on 2,105 customers of 118 branches of one of the biggest banks of an Italian banking group. We find that customer satisfaction impacts loyalty, which in turn has a direct effect on financial and non-financial customer value/total customer value/complex customer value. Moreover, loyalty is a mediator between financial and not-financial customer value and two sources of customer satisfaction, namely relationships with the front office and the branch, on the one hand, and the products offered, on the other. URI: http://hdl.handle.net/10398/7484 Files in this item: 1
cbs forskningsindberetning smg 113.pdf (217.2Kb) -
Pedersen, Torben (København, 2006)[More information][Less information]
Abstract: Subsidiary development is a multi-dimensional construct that cannot be captured just by looking at subsidiary roles, activities, etc. Three distinct dimensions of subsidiary development are identified and these are: scope of subsidiary (the breadth of activities), level of subsidiary competence (the depth of activities) and level of integration in the internal MNC-network. Birkinshaw and Hood (1998a) have in their seminal paper proposed a model where subsidiary development is determined by three factors: Headquarter assignment, dynamism of local business environment and subsidiary initiatives. This paper is the first to conduct a statistical test of this model on a large-sample data set including data of more than 2.100 subsidiaries located in seven different countries in Europe. The effect of the three determining factors on subsidiary development is tested simultaneously in a LISREL model. URI: http://hdl.handle.net/10398/7465 Files in this item: 1
cbs forskningsindberetning smg 40.pdf (2.251Mb) -
An Empirical StudyHeimeriks, Koen H.; Duysters, Geert; Vanhaverbeke, Wim (København, 2005)[More information][Less information]
Abstract: This paper assesses the differential performance effects of learning mechanisms on the development of alliance capabilities. Prior research has suggested that different capability levels could be identified in which specific intra-firm learning mechanisms are used to enhance a firm’s alliance capability. However, empirical testing in this field is scarce and little is known as to what extent different learning mechanisms are indeed useful in advancing a firm’s alliance capability. This paper analyzes to what extent intra-firm learning mechanisms help firms develop their alliance capability. Differential learning may explain in what way firms yield superior returns from their alliances in comparison to competitors. The empirical results show that different learning mechanisms have different performance effects at different stages of the alliance capability development process. The main lesson from this paper is that firms can steer the creation and speed of their alliance capability development as different learning mechanisms have differential performance effects and are more appropriate at different levels of alliance capability. Key words: learning mechanisms, alliance capabilities and competitive heterogeneity. JEL classification: L14 URI: http://hdl.handle.net/10398/7459 Files in this item: 1
smg-wp-13-2005.pdf (603.5Kb) -
Bjørnskov, Christian; Foss, Nicolai J. (Frederiksberg, 2010)[More information][Less information]
Abstract: The economics of growth has shown that countries not only grow by deploying higher levels of inputs to production, but also by better allocating whatever resources are at their disposal and by introducing productivity-enhancing innovations. We proffer arguments as to why and how entrepreneurship as well institutions of liberty (i.e., economic freedom, including the rule of law, easy regulations, low taxes and limited government interference in the economy) positively impact total factor productivity (TFP): These institutions allow entrepreneurial experimentation with the combination of factors to take place at low transaction costs. We test these ideas on a unique panel data set derived from Compendia, World Bank data and the Fraser Institute’s economic freedom data. We find that while entrepreneurship positively impacts TFP, the marginal contribution of entrepreneurship to TFP is strongest in economies with substantial government activity. URI: http://hdl.handle.net/10398/8174 Files in this item: 1
CBS Forskningsindberetning SMG 263.pdf (373.1Kb) -
An MNC Subsidiary Perspective on Knowledge OutflowsMahnke, Volker; Pedersen, Torben; Venzin, Markus (København, 2006)[More information][Less information]
Abstract: This empirical paper explores knowledge outflow from MNC subsidiaries and its impact on the MNC performance. We develop and test hypotheses derived from literature on MNC knowledge flows integrated with the perspective of knowledge-creating, self-interested MNC subsidiaries. The hypotheses are developed using a simultaneous equation model applied to a unique dataset encompassing a German MNC, HeidelbergCement. Enablers and impediments of knowledge outflows are assessed in order to explain why subsidiaries share their knowledge with other MNC units. Implications are examined by studying the link between knowledge outflows and subsidiary performance. Our findings suggest that knowledge outflows increase a subsidiary's performance only up to a certain point and that too much knowledge sharing may be detrimental to the contributing subsidiary's performance. URI: http://hdl.handle.net/10398/7464 Files in this item: 1
cbs forskningsindberetning smg 41.pdf (3.066Mb) -
Insights for International Strategic ManagementBenito, Gabriel R.G.; Petersen, Bent; Welch, Lawrence S. (Frederiksberg, 2011)[More information][Less information]
Abstract: Companies’ choice of foreign operation modes (FOM) has been a core subject of international business studies basically from its beginning (Hymer, 1960 [1976]; Root, 1964). A halfcentury of research has brought us a set of established perspectives on companies’ foreign operation mode choices; the most important being the economics based approaches of internalisation and transaction cost theories (Anderson and Gatignon, 1986; Buckley and Casson, 1976; Hennart, 1982), evolutionary and resource based approaches (Andersen, 1997; Kogut and Zander, 1993; Madhok, 1997), institutional approaches (Kostova and Zaheer, 1999; Meyer and Peng, 2005), and process models based on learning and decision behaviour theories (Johanson and Vahlne, 1977, 2009).... URI: http://hdl.handle.net/10398/8363 Files in this item: 1
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