Browsing Working Papers (SMG) by Year Published
Now showing items 1-20 of 123
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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) -
Minbaeva, Dana; Park, Chansoo; Vertinsky, Ilan (Frederiksberg, 2013)[More information][Less information]
Abstract: This paper attempts to fill this gap in the literature by focusing on the influence of knowledge senders’ willingness to share knowledge, their disseminative capacities and the knowledge-transfer opportunities they create on the effectiveness of knowledge transfer. We develop a theoretical framework that examines the impacts of key knowledge-senders’ abilities and behaviors on the knowledge-transfer process. We test our theory using survey data collected from 199 South Korean IJVs. We find that the willingness of foreign parent firms to share knowledge is manifested in their efforts to increase their abilities to articulate and codify knowledge, and to apply those skills to the codification of knowledge relevant to their IJVs. A willingness to share knowledge also plays a role in increasing the opportunities for two-way interactions, especially face-to-face interactions between the parents and their IJVs. The impact of the abilities of foreign parent firms to articulate and codify knowledge for transfer is mediated by the efficacy of their organizational communication systems. We also find that the opportunities created for the transfer of explicit knowledge have a significant impact on such transfers. However, opportunities for transfer of tacit knowledge only have an impact when senders and receivers have similar products and technologies. URI: http://hdl.handle.net/10398/8625 Files in this item: 1
Minbaeva_Park_Vertinsky_SMGWP2013_2.pdf (991.3Kb) -
The Role of Mentalizing for Reward Design and Managenemt in Principal-Agent RelationsFoss, Nicolai J.; Stea, Diego (Frederiksberg, 2013)[More information][Less information]
Abstract: Agency theory is one of the most important foundational theories in management research, but it rests on tenuous cognitive assumptions. We combine classical agency theory with a realistic theory of the intrinsically imperfect human potential for interpersonal sensemaking. This allows us to systematically show how the principal’s ability to mentalize with the agent influences value creation in principal-agent relations, and to link this to organizational sensemaking instruments. URI: http://hdl.handle.net/10398/8624 Files in this item: 1
Foss_Stea_SMGWP2013_1.pdf (1.149Mb) -
Foss, Nicilai J.; Klein, Peter G.; Linder, Stefan (Frederiksberg, 2013)[More information][Less information]
Abstract: Austrian economics focuses on markets, but has much to say about organizations. In particular, Austrian insights on the structure of production, the heterogeneity and subjectivity of resources, the nature of uncertainty, the role of monetary calculation, and the function of the entrepreneur provide solid foundations for a distinctly Austrian theory of organizations. We review these insights, discuss recent literature on Austrian economics and the theory of the firm, and suggest new directions for developing and extending an Austrian approach to organizations. URI: http://hdl.handle.net/10398/8692 Files in this item: 1
Foss_Klein_Linder_SMGWP2013.pdf (544.3Kb) -
A Goal-Framing Perspective on the Drivers of Value CreationFoss, Nicolai J.; Lindenberg, Siegwart (Frederiksberg, 2013)[More information][Less information]
Abstract: Scholars increasingly seek to proffer microfoundations for macro management theory, notably strategic management theory. These microfoundations naturally revolve around human resources. We argue that proper microfoundations for strategic management theory must recognize that the management of motivation is first and foremost a matter of the management of cognitions of organizational members, an insight that we found in goal-framing theory, an emerging perspective based on cognitive science, behavioral economics, and social psychology. Building on this insight, we argue that a key reason why strategic goals matter to firm performance──that is, firm-level value creation and value capture and sustained competitive heterogeneity──is that such goals influence value creation rooted in employee motivations. Unfolding this idea allows us to generate new insight in the relations between value creation, strategic leadership and strategic goals. URI: http://hdl.handle.net/10398/8668 Files in this item: 1
SMGWP2013_5.pdf (711.6Kb) -
The Case of DenmarkMoberg, Kåre; Vestergaard, Lene; Jørgensen, Casper; Markussen, Elisabeth; Hakverdyan, Sose (Frederiksberg, 2013)[More information][Less information]
Abstract: In this book chapter we describe how Denmark’s eight universities have developed their supply of entrepreneurship education during the past three years. The governmental initiatives that aim to promote entrepreneurial universities, and the Danish context, are presented and related to this development. An assessment model of entrepreneurship education which includes the wide scope of dimensions important to education in the topic, such as content dimensions, stages in the entrepreneurial project and pedagogical dimensions is presented. By applying this model we have been able to analyse the strengths and weaknesses in the supply of entrepreneurship education at the eight universities. The results show that the Danish universities have developed well regarding entrepreneurship education, especially on the pedagogical dimensions which means that more courses are becoming through and for entrepreneurship, rather than about entrepreneurship. The dominance of universities with business schools do, however, suggest that entrepreneurship education in Denmark is far from reaching maturity. Our results also suggest that it is important to focus on how to sustain the supply of entrepreneurship education rather than just invest in new course development. URI: http://hdl.handle.net/10398/8658 Files in this item: 1
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Foss, Nicolai J.; Klein, Peter G. (Frederiksberg, 2013)[More information][Less information]
Abstract: We briefly survey Hayek’s work and argue for its increasing relevance for organizational scholars. Hayek’s work inspired aspects of the transaction cost approach to the firm as well as knowledge management and knowledge-based view of the firm. But Hayek is usually seen within organizational scholarship as a narrow, technical economist. We hope to change that perception here by pointing to his work on rules, evolution, entrepreneurship and other aspects of his wide-ranging oeuvre with substantive implications for organizational theory. URI: http://hdl.handle.net/10398/8655 Files in this item: 1
Foss_Klein_SMGWP2013_3.pdf (737.3Kb) -
Foss, Nicolai J.; Lyngsie, Jacob; Zahra, Shaker A. (Frederiksberg, 2013)[More information][Less information]
Abstract: Research highlights the role of external knowledge sources in the recognition of strategic opportunities, but is less forthcoming with respect to the role of such sources during the process of exploiting or realizing opportunities. We build on the knowledge-based view to propose that realizing opportunities often involves significant interactions with external knowledge sources. Organizational design can facilitate a firm’s interactions with these sources, while achieving coordination among organizational members engaged in opportunity exploitation. Our analysis of a double-respondent survey involving 536 Danish firms shows that the use of external knowledge sources is positively associated with opportunity exploitation, but the strength of this association is significantly influenced by organizational designs that enable the firm to access external knowledge during the process of exploiting opportunities. URI: http://hdl.handle.net/10398/8680 Files in this item: 1
SMGWP2013_6.pdf (545.6Kb) -
A Research AgendaFoss, Nicolai J.; Argyres, Nicholas; Felin, Teppo; Zenger, Todd (Frederiksberg, 2012)[More information][Less information]
Abstract: For decades, the literatures on firm capabilities and organizational economics have been at odds with each other, specifically relative to explaining organizational boundaries and heterogeneity. We briefly trace the history of the relationship between the capabilities literature and organizational economics and point to the dominance of a “capabilities first” logic in this relationship. We argue that capabilities considerations are inherently intertwined with questions about organizational boundaries and internal organization, and use this point to respond to the prevalent “capabilities first” logic. We offer an integrative research agenda that focuses, first, on the governance of capabilities and, second, on the capability of governance. URI: http://hdl.handle.net/10398/8426 Files in this item: 1
Foss_SMGWP2012_1.pdf (780.0Kb) -
Individuals, Processes, and SturctureFelin, Teppo; Foss, Nicolai J.; Heimeriks, Koen H. (Frederiksberg, 2012)[More information][Less information]
Abstract: We discuss the microfoundations of routines and capabilities, including why a microfoundations view is needed and how it may inform work on organizational and competitive heterogeneity. Building on extant research, we identify three primary categories of micro-level components underlying routines and capabilities: individuals, social processes, and structure and design. We discuss how these components, and their interactions, may affect routines and capabilities. In doing so, we outline a research agenda for advancing the field’s understanding of the microfoundations of routines and capabilities. URI: http://hdl.handle.net/10398/8401 Files in this item: 1
Teppo_Felin_SMG_WP_423.pdf (283.4Kb) -
Andersen, Torben Juul; Oliviero, Roggi (Frederiksberg, 2012)[More information][Less information]
Abstract: Corporate failures, periodic recessions, regional debt crises and volatile financial markets have intensified the focus on risk management as the means to deal with turbulent conditions. The ability to respond effectively to abrupt environmental impacts is considered an important source of competitive advantage. Yet, surprisingly little research has analyzed whether the presumed advantages of effective risk management are associated with superior outcomes. Here we present a comprehensive study of risk management effectiveness and the relationship to corporate performance based on more than 33,500 observations in 3,400 firms over the turbulent 20-year period 1991-2010. Determining effective risk management as the ability to reduce earnings and cash flow volatility, we find that both have significant positive relationships to lagged performance measures after controlling for industry effects, company size and financial leverage. URI: http://hdl.handle.net/10398/8697 Files in this item: 1
Torben Andersen Roggi.pdf (135.5Kb) -
Andersen, Torben Juul; Roggi, Oliviero (Frederiksberg, 2012)[More information][Less information]
Abstract: Major corporate failures, periodic recessions, regional debt crises and volatile markets have intensified the focus on corporate risk management as the means to deal better with turbulent business conditions. Hence, the ability to respond effectively to the often dramatic environmental changes is considered an important source of competitive advantage. However, surprisingly little research has analyzed if the presumed advantages of effective risk management lead to superior performance or assessed important antecedents of effective risk management capabilities. Here we present a comprehensive study of risk management effectiveness and the relationship to corporate performance based on panel data for more than 3,400 firms accounting for over 33,500 annual observations during the turbulent period 1991- 2010. Determining effective risk management as the ability to reduce earnings and cash flow volatility, we find that it has significant positive relationships to lagged performance measures after controlling for industry effects and company size. We also find that availability of slack resources and investment commitments affect the risk management capabilities and their relationship to performance. URI: http://hdl.handle.net/10398/8696 Files in this item: 1
Torben Andersen.pdf (170.6Kb) -
Laursen, Keld; Foss, Nicolai J. (Frederiksberg, 2012)[More information][Less information]
Abstract: We survey, organize, and discuss the literature on the role of organizational practices for explaining innovation outcomes. We discuss how individual practices influence innovation, and how the clustering of specific practices matters for innovation outcomes. Relatedly, we discuss various possible mediators of the HRM/innovation link, such as knowledge sharing, social capital and network effects. We argue that the causal mechanisms underlying the HRM/innovation links are still ill-understood, calling for further research. URI: http://hdl.handle.net/10398/8516 Files in this item: 1
Laursen_Foss_SMGWP2012_5.pdf (914.1Kb) -
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) -
Klein, Peter G.; Barney, Jay B.; Foss, Nicolai J. (Frederiksberg, 2012)[More information][Less information]
Abstract: Strategic entrepreneurship is a newly recognized field that draws, not surprisingly, from the fields of strategic management and entrepreneurship. The field emerged officially with the 2001 special issue of the Strategic Management Journal on “strategic entrepreneurship”; the first dedicated periodical, the Strategic Entrepreneurship Journal, appeared in 2007. Strategic entrepreneurship is built around two core ideas. (1) Strategy formulation and execution involves attributes that are fundamentally entrepreneurial, such as alertness, creativity, and judgment, and entrepreneurs try to create and capture value through resource acquisition and competitive posi-tioning. (2) Opportunity-seeking and advantage-seeking—the former the central subject of the entrepreneurship field, the latter the central subject of the strategic management field—are pro-cesses that should be considered jointly. This entry explains the specific links between strategy and entrepreneurship, reviews the emergence and development of the strategic entrepreneurship field, and discusses key implications and applications. URI: http://hdl.handle.net/10398/8514 Files in this item: 1
Klein_Barney_Foss_SMGWP2012_3.pdf (457.4Kb) -
The Sensing of Frontline Employees Against Executive ExpectationsHallin, Carina Antonia; Andersen, Torben J.; Tveterås, Sigbjørn (Frederiksberg, 2012)[More information][Less information]
Abstract: The literature suggests that important strategic initiatives can derive from employees within the organization as they respond to needs and opportunities observed in daily operations. This seems to indicate that employees have a good sense of the firm’s operational capabilities observed through direct interactions with colleagues, customers and partners. Executives make their own judgments about the corporate capabilities from discussions with various managers, other executives and industry specialists. But, the information gathered by executives may be qualitatively different from the conditions sensed by the employees. So, we arranged a contest between operational capabilities assessed by employees and executives and the relationship to subsequent firm performance. Based on more than 400 individual data points collected from two medium-sized organizations over a period of eighteen months, advanced distributed lag time-series analyses show that the sensing of front-line employees (surprisingly) is a better medium-term predictor of organizational performance than executive judgments. These results have implications for the way organizations set up their management information and communication structure. URI: http://hdl.handle.net/10398/8471 Files in this item: 1
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Too Much of Two Good Things?Moberg, Kåre (Frederiksberg, 2012)[More information][Less information]
Abstract: I present an analysis of a survey in which the effect of entrepreneurship education and project-based education on students at lower secondary level is investigated. The results are based on a random sample of 2000 Danish students. The analysis indicates that entrepreneurship education has a positive effect on students’ personal development, and that its effect on entrepreneurial intentions is fully mediated by its effect on students’ self-conception. A finding with important policy implications is that there is a negative interaction effect between entrepreneurship education and project-based education regarding impact on students’ self-conception. The implication of the results is that we should replace project-based education with entrepreneurship education rather than having them run in parallel. URI: http://hdl.handle.net/10398/8515 Files in this item: 1
Moberg_SMGWP_4_2012.pdf (1.038Mb) -
Moberg, Kåre (Frederiksberg, 2012)[More information][Less information]
Abstract: In this book chapter I present a multidimensional entrepreneurial self-efficacy (ESE) scale. The scale builds on three established ESE-scales, but the reliability of it is improved compared to the original three scales as the highly discipline-specific jargon is transformed to a more neutral wording of the items. The scale has been tested in a large scale survey including 445 students from twelve different programmes at three universities in Denmark and one university in Sweden. Exploratory factor analysis (EFA) has been applied in order to investigate the multidimensionality of the items in the scale, and confirmatory factor analysis (CFA) has been applied to investigate its convergent, discriminatory and nomological validity. The results demonstrate support for a multidimensional ESE-scale with high predictive validity regarding entrepreneurial behaviours and with high reliability as the items are comprehensible to respondents, regardless if they have entrepreneurial experience or not. The scale can thus be used in programme evaluations that include control groups or other type of individuals that lack entrepreneurial experience. URI: http://hdl.handle.net/10398/8565 Files in this item: 1
Moberg_SMGWP2012_6.pdf (855.5Kb) -
Foss, Nicolai J. (Frederiksberg, 2011)[More information][Less information]
Abstract: A concern with teams was central to early attempts to grasp the nature of the firm, but fell out of favor in later work. We encourage a return to the emphasis on teams, but argue that the idea of teams as central to the nature of the firm needs to be grounded in an appreciation of the importance of We frames and group agency. We use converging insights from evolutionary anthropology, cognitive social psychology and work on team agency to develop such a grounding, and link it to the issues of the existence and boundaries of firms. URI: http://hdl.handle.net/10398/8362 Files in this item: 1
Nicolai_J_Foss_SMG_2011.pdf (345.3Kb) -
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Abstract: While the extant literature on offshore outsourcing deals with this operation mode in isolation, and typically with a focus on cost effects, we address the broader question of how companies choose and use outsourcing as part of foreign operation mode development and as a contributor to internationalization. We use a case study of the Danish company SimCorp and the development of its operations in Kiev, Ukraine, to show how learning in various forms, control concerns, and relations with foreign partners may interact and build momentum for mode change. SimCorp’s experience demonstrates that outsourcing can be used proactively to promote expanded international operations. URI: http://hdl.handle.net/10398/8360 Files in this item: 1
SMG WP 9_2011_Ny udg_28nov2011.pdf (144.2Kb)
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