Research SummaryBuilding on business model research and the social entrepreneurship literature, we conceptually develop a set of business model choices for social ventures. These choices specify the scope of venture beneficiaries, the extent that customers and beneficiaries overlap, and how social meaning is attached to the venture's value proposition. Concurrent configurations of these choices give rise to four types of social business models: (1) Social Stimulators, (2) Social Providers, (3) Social Producers, and (4) Social Intermediaries. We illustrate this typology using data from seven social ventures and formulate propositions about the implications these business model choices have for a venture's value creation and value capture potential. We then discuss contributions to the literature on social ventures and social entrepreneurship, and the literature on business models.Managerial SummaryIn this article, we propose a framework outlining key business model choices for social ventures. These choices include the scope of target beneficiaries of the venture, the degree of overlap between customers and beneficiaries, and how the venture communicates its social mission through its value proposition. By combining these choices in different ways, we identify four distinct types of social business models which we call Social Stimulators, Social Providers, Social Producers, and Social Intermediaries. To bring this framework to life, we have examined data from seven real‐world social ventures, offering concrete examples to illustrate each type. For each of these four types of social business models, we have also formulated propositions about how the business model choices impact a venture's value creation and value capture potential.
{"title":"Doing good while making profits: A typology of business models for social ventures","authors":"Lien De Cuyper, Bart Clarysse, Mike Wright","doi":"10.1002/sej.1502","DOIUrl":"https://doi.org/10.1002/sej.1502","url":null,"abstract":"Research SummaryBuilding on business model research and the social entrepreneurship literature, we conceptually develop a set of business model choices for social ventures. These choices specify the scope of venture beneficiaries, the extent that customers and beneficiaries overlap, and how social meaning is attached to the venture's value proposition. Concurrent configurations of these choices give rise to four types of social business models: (1) Social Stimulators, (2) Social Providers, (3) Social Producers, and (4) Social Intermediaries. We illustrate this typology using data from seven social ventures and formulate propositions about the implications these business model choices have for a venture's value creation and value capture potential. We then discuss contributions to the literature on social ventures and social entrepreneurship, and the literature on business models.Managerial SummaryIn this article, we propose a framework outlining key business model choices for social ventures. These choices include the scope of target beneficiaries of the venture, the degree of overlap between customers and beneficiaries, and how the venture communicates its social mission through its value proposition. By combining these choices in different ways, we identify four distinct types of social business models which we call Social Stimulators, Social Providers, Social Producers, and Social Intermediaries. To bring this framework to life, we have examined data from seven real‐world social ventures, offering concrete examples to illustrate each type. For each of these four types of social business models, we have also formulated propositions about how the business model choices impact a venture's value creation and value capture potential.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140845968","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Research SummaryWhat drives platform complementors to adopt boundary resources? We address this question by drawing on optimal distinctiveness. We suggest that competitors' adoption of a platform boundary resource on the one hand increases the legitimacy of the resource, but on the other hand decreases a focal complementor's ability to differentiate by adopting it. We therefore hypothesize an inverted U‐shaped relationship between prior and future adoption of a platform boundary resource. In a dataset of health and fitness apps on the Apple iOS platform and through three online experiments, we find support for this relationship and for the existence of two important complementor‐specific contingencies that moderate this relationship. This paper expands our understanding of how optimal distinctiveness drives the dynamics of platform‐mediated markets.Managerial SummaryIn platform markets, complementors face a dilemma: which of the available platform boundary resources should they adopt? We show that a focal complementor's decision to adopt a boundary resource is the result of a strategic trade‐off between the desire to be both legitimate and to be differentiated from competitors. The result is that initially many complementors adopt the boundary resource and it becomes viewed as increasingly attractive by other platform complementors. However, over time as many complementors have adopted the boundary resource, the remaining complementors begin to shy away from adopting it because they worry that doing so might hurt their ability to be differentiated on the platform. These results are shaped by the complementors' performance and how dedicated they are to the platform.
研究摘要是什么促使平台互补者采用边界资源？我们通过借鉴最佳独特性来解决这个问题。我们认为，竞争对手对平台边界资源的采用一方面增加了该资源的合法性，但另一方面却降低了焦点补充者通过采用该资源实现差异化的能力。因此，我们假设平台边界资源的先前采用与未来采用之间存在倒 U 型关系。通过苹果 iOS 平台上的健康和健身应用程序数据集以及三个在线实验，我们发现这种关系得到了支持，并且存在两个重要的补充者特定或然因素来缓和这种关系。本文拓展了我们对最佳独特性如何驱动平台中介市场动态的理解。管理总结在平台市场中，互补者面临着两难选择：他们应该采用哪种可用的平台边界资源？我们的研究表明，焦点互补者决定采用哪种边界资源，是在既要合法又要区别于竞争对手这两种愿望之间进行战略权衡的结果。其结果是，最初许多互补者会采用边界资源，其他平台互补者也会认为边界资源越来越有吸引力。然而，随着时间的推移，随着许多补充者采用了边界资源，剩下的补充者开始回避采用边界资源，因为他们担心这样做可能会损害他们在平台上的差异化能力。这些结果是由补充者的表现以及他们对平台的专注程度决定的。
{"title":"How optimal distinctiveness shapes platform complementors' adoption of boundary resources","authors":"Hye Young Kang, Stine Grodal","doi":"10.1002/sej.1501","DOIUrl":"https://doi.org/10.1002/sej.1501","url":null,"abstract":"Research SummaryWhat drives platform complementors to adopt boundary resources? We address this question by drawing on optimal distinctiveness. We suggest that competitors' adoption of a platform boundary resource on the one hand increases the legitimacy of the resource, but on the other hand decreases a focal complementor's ability to differentiate by adopting it. We therefore hypothesize an inverted U‐shaped relationship between prior and future adoption of a platform boundary resource. In a dataset of health and fitness apps on the Apple iOS platform and through three online experiments, we find support for this relationship and for the existence of two important complementor‐specific contingencies that moderate this relationship. This paper expands our understanding of how optimal distinctiveness drives the dynamics of platform‐mediated markets.Managerial SummaryIn platform markets, complementors face a dilemma: which of the available platform boundary resources should they adopt? We show that a focal complementor's decision to adopt a boundary resource is the result of a strategic trade‐off between the desire to be both legitimate and to be differentiated from competitors. The result is that initially many complementors adopt the boundary resource and it becomes viewed as increasingly attractive by other platform complementors. However, over time as many complementors have adopted the boundary resource, the remaining complementors begin to shy away from adopting it because they worry that doing so might hurt their ability to be differentiated on the platform. These results are shaped by the complementors' performance and how dedicated they are to the platform.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140317172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Marcus T. Wolfe, Daniel Blaseg, Pankaj C. Patel, Richard Chan
Research SummaryDistinctiveness is an essential element of crafts. Building on optimal distinctiveness theory, we examine the relationship between craft‐based ventures, distinctiveness, and crowdfunding performance. Using a sample of 10,915 craft campaigns and 429,290 non‐craft campaigns, we find that craft‐based campaigns have higher distinctiveness but realize lower success through distinctiveness. Additionally, craft‐based campaigns with a higher risk index have lower distinctiveness, those with higher strategy breadth have higher distinctiveness, and those with lower cognitive complexity have higher distinctiveness. The findings have implications for crafts‐based entrepreneurs in leveraging distinctiveness and the value of lowering perceptions of distinctiveness through elements of strategic entrepreneurship—strategy breadth and cognitive complexity.Managerial SummaryOur study aids craft‐based entrepreneurs in presenting their ventures in crowdfunding contexts. We find that increasing the distinctiveness of craft‐based ventures results in lower crowdfunding campaign performance. Additionally, our results indicate that craft‐based campaigns that have higher risk have lower levels of distinctiveness. Conversely, we find that craft‐based campaigns with higher levels of strategic breadth and lower levels of cognitive complexity exhibit higher levels of distinctiveness. These findings have important implications regarding best practices related to how craft‐based entrepreneurs can best present their ventures within crowdfunding contexts. Specifically, our results indicate that craft‐based ventures can realize better crowdfunding performance via lower levels of distinctiveness within their campaigns.
{"title":"Mix with the crowd? Craft‐based campaigns and the value of distinctiveness in campaign success","authors":"Marcus T. Wolfe, Daniel Blaseg, Pankaj C. Patel, Richard Chan","doi":"10.1002/sej.1500","DOIUrl":"https://doi.org/10.1002/sej.1500","url":null,"abstract":"Research SummaryDistinctiveness is an essential element of crafts. Building on optimal distinctiveness theory, we examine the relationship between craft‐based ventures, distinctiveness, and crowdfunding performance. Using a sample of 10,915 craft campaigns and 429,290 non‐craft campaigns, we find that craft‐based campaigns have higher distinctiveness but realize lower success through distinctiveness. Additionally, craft‐based campaigns with a higher risk index have lower distinctiveness, those with higher strategy breadth have higher distinctiveness, and those with lower cognitive complexity have higher distinctiveness. The findings have implications for crafts‐based entrepreneurs in leveraging distinctiveness and the value of lowering perceptions of distinctiveness through elements of strategic entrepreneurship—strategy breadth and cognitive complexity.Managerial SummaryOur study aids craft‐based entrepreneurs in presenting their ventures in crowdfunding contexts. We find that increasing the distinctiveness of craft‐based ventures results in lower crowdfunding campaign performance. Additionally, our results indicate that craft‐based campaigns that have higher risk have lower levels of distinctiveness. Conversely, we find that craft‐based campaigns with higher levels of strategic breadth and lower levels of cognitive complexity exhibit higher levels of distinctiveness. These findings have important implications regarding best practices related to how craft‐based entrepreneurs can best present their ventures within crowdfunding contexts. Specifically, our results indicate that craft‐based ventures can realize better crowdfunding performance via lower levels of distinctiveness within their campaigns.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140016594","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Zeki Simsek, Ciaran Heavey, Andreas König, Wouter Stam
CONFLICT OF INTEREST STATEMENT
The authors declare no conflicts of interest.
利益冲突声明作者声明没有利益冲突。
{"title":"Leading digital transformation in incumbent firms: A strategic entrepreneurship framing","authors":"Zeki Simsek, Ciaran Heavey, Andreas König, Wouter Stam","doi":"10.1002/sej.1499","DOIUrl":"https://doi.org/10.1002/sej.1499","url":null,"abstract":"<h2> CONFLICT OF INTEREST STATEMENT</h2>\u0000<p>The authors declare no conflicts of interest.</p>","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139994814","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Sara R. S. T. A. Elias, Amanda Peticca‐Harris, Nadia deGama
Research SummaryStrategic entrepreneurship research has long focused on high growth and wealth maximization in the creation of primarily economic value. As such, it has largely overlooked craft entrepreneurs, who prioritize skill, materiality, and immersive action in creating broader forms of value. Deep engagement with materials, alongside daily aesthetic (sensory, tacit, embodied) practices are key to how craft entrepreneurs create unique value and strengthen competitive distinction. Drawing on ethnographic data from two craft‐based settings, we abductively generated three dimensions and associated tensions by which craft entrepreneurs leverage aesthetics for strategic entrepreneuring: materializing, enchanting, empathizing. Our key contribution is to unpack the embodied—and very human—processes by which craft entrepreneurs imagine and give life to unique offerings while creating distinctive value for both themselves and their stakeholders.Managerial SummaryThe focus of strategic entrepreneurship research is often on economic value creation, along with high growth and wealth maximization. By exploring the everyday practices of craft entrepreneurs, we unpack how creating broader forms of value (e.g., symbolic, artistic, social, cultural) through immersive and embodied actions contributes to stylistic and competitive distinction. For the craft entrepreneurs in our study, remaining competitive is about engaging in sensuous practices that result in meaningful and authentic offerings, for both themselves and their stakeholders. By capturing and exploring these daily practices, along with the tensions that undergird real‐time exchanges with stakeholders, we provide fresh insights into how craft entrepreneurs create unique value while delicately balancing tradition with innovation to strengthen competitive distinction.
{"title":"Truly, madly, deeply: Strategic entrepreneuring and the aesthetic practices of craft entrepreneurs","authors":"Sara R. S. T. A. Elias, Amanda Peticca‐Harris, Nadia deGama","doi":"10.1002/sej.1498","DOIUrl":"https://doi.org/10.1002/sej.1498","url":null,"abstract":"Research SummaryStrategic entrepreneurship research has long focused on high growth and wealth maximization in the creation of primarily economic value. As such, it has largely overlooked craft entrepreneurs, who prioritize skill, materiality, and immersive action in creating broader forms of value. Deep engagement with materials, alongside daily aesthetic (sensory, tacit, embodied) practices are key to how craft entrepreneurs create unique value and strengthen competitive distinction. Drawing on ethnographic data from two craft‐based settings, we abductively generated three dimensions and associated tensions by which craft entrepreneurs leverage aesthetics for strategic entrepreneuring: <jats:italic>materializing</jats:italic>, <jats:italic>enchanting</jats:italic>, <jats:italic>empathizing</jats:italic>. Our key contribution is to unpack the embodied—and very human—processes by which craft entrepreneurs imagine and give life to unique offerings while creating distinctive value for both themselves and their stakeholders.Managerial SummaryThe focus of strategic entrepreneurship research is often on economic value creation, along with high growth and wealth maximization. By exploring the everyday practices of craft entrepreneurs, we unpack how creating broader forms of value (e.g., symbolic, artistic, social, cultural) through immersive and embodied actions contributes to stylistic and competitive distinction. For the craft entrepreneurs in our study, remaining competitive is about engaging in sensuous practices that result in meaningful and authentic offerings, for both themselves and their stakeholders. By capturing and exploring these daily practices, along with the tensions that undergird real‐time exchanges with stakeholders, we provide fresh insights into how craft entrepreneurs create unique value while delicately balancing tradition with innovation to strengthen competitive distinction.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139938918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Commercial success in craft-based industries requires projecting authentic identities but direct claims of authenticity can backfire and raise suspicions of pecuniary motivation, an antithesis to authenticity. Managing authentic identities is thus central to the success of craft-based ventures. We argue that organizations can shape their audience's perceptions of authenticity and appeal by tacitly and indirectly conveying a resonant identity meaning with visibility and credibility. Our empirical analysis, set in the US craft beer industry, reveals strong support for the idea that craft ventures can raise authenticity and appeal through managing the content/meaning, visibility, and credibility of their identity claims. We discuss the implications of our theory and findings for the role of organizations in the social construction of authenticity and appeal.
{"title":"Organizational authenticity: How craft-based ventures manage authentic identities and audience appeal","authors":"Stanislav D. Dobrev, J. Cameron Verhaal","doi":"10.1002/sej.1496","DOIUrl":"https://doi.org/10.1002/sej.1496","url":null,"abstract":"Commercial success in craft-based industries requires projecting authentic identities but direct claims of authenticity can backfire and raise suspicions of pecuniary motivation, an antithesis to authenticity. Managing authentic identities is thus central to the success of craft-based ventures. We argue that organizations can shape their audience's perceptions of authenticity and appeal by tacitly and indirectly conveying a resonant <i>identity meaning</i> with <i>visibility</i> and <i>credibility</i>. Our empirical analysis, set in the US craft beer industry, reveals strong support for the idea that craft ventures can raise authenticity and appeal through managing the content/meaning, visibility, and credibility of their identity claims. We discuss the implications of our theory and findings for the role of organizations in the social construction of authenticity and appeal.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139696325","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We integrate the emerging literature on the strategic role of firm owners in firms' value creation with Penrosean growth theory to investigate how and under what conditions two experience-based competences among owners—matching competence and governance competence—influence firm growth. Employing a longitudinal sample of 2509 owner-managed German firms, we find a positive relationship between owners' experience-based competences and firm growth. Further, we find that in family firms, the positive relationship between owners' experience-based governance competence and firm growth is weaker and that both experience-based competences matter more in younger firms compared with older firms. Our findings make important contributions to research on strategic ownership and Penrosean growth theory.
{"title":"The strategic role of owners in firm growth: Contextualizing ownership competence in private firms","authors":"Jannis von Nitzsch, Miriam Bird, Ed Saiedi","doi":"10.1002/sej.1497","DOIUrl":"https://doi.org/10.1002/sej.1497","url":null,"abstract":"We integrate the emerging literature on the strategic role of firm owners in firms' value creation with Penrosean growth theory to investigate how and under what conditions two experience-based competences among owners—matching competence and governance competence—influence firm growth. Employing a longitudinal sample of 2509 owner-managed German firms, we find a positive relationship between owners' experience-based competences and firm growth. Further, we find that in family firms, the positive relationship between owners' experience-based governance competence and firm growth is weaker and that both experience-based competences matter more in younger firms compared with older firms. Our findings make important contributions to research on strategic ownership and Penrosean growth theory.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139510954","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Collecting fine-grained, longitudinal data to study new venture creation (NVC) is critical but empirically challenging given the partly invisible, collective, and highly discursive nature of NVC. This article offers the ethnography/accelerator approach as one powerful solution to this problem. This approach theorizes the implications raised by the invisible, collective, and highly discursive nature of NVC as challenges of accessibility, multivocality, and reflexivity. It provides a framework articulating these challenges with key ethnographic insights to advance data collection and theory building, before discussing five implications of this approach for NVC research and providing recommendations and points of caution.
{"title":"Fulfilling the process promise in new venture creation research: The ethnography/accelerator approach","authors":"Guillaume Dumont","doi":"10.1002/sej.1494","DOIUrl":"https://doi.org/10.1002/sej.1494","url":null,"abstract":"Collecting fine-grained, longitudinal data to study new venture creation (NVC) is critical but empirically challenging given the partly invisible, collective, and highly discursive nature of NVC. This article offers the ethnography/accelerator approach as one powerful solution to this problem. This approach theorizes the implications raised by the invisible, collective, and highly discursive nature of NVC as challenges of accessibility, multivocality, and reflexivity. It provides a framework articulating these challenges with key ethnographic insights to advance data collection and theory building, before discussing five implications of this approach for NVC research and providing recommendations and points of caution.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139110299","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
How a new venture improves performance when facing both principal and agency problems is an important yet understudied question. This study examines the effectiveness of CEO duality in mitigating the principal problem and enhancing entrepreneurial success. By granting more power to CEOs, CEO duality can alleviate the principal problem; however, CEO duality may simultaneously exacerbate CEOs' agency problems. Using manually collected panel data on 1403 newly established U.S. commercial banks, we find a positive relationship between CEO duality and new venture performance. The CEO duality–new venture performance relationship strengthens when CEOs are also founders of their firms and weakens when the share of corporate ownership reflects heavy investment by incumbent firms. Our findings highlight that venture governance needs to address principal and agency problems simultaneously.
新创企业如何在同时面临委托问题和代理问题的情况下提高绩效，这是一个重要但研究不足的问题。本研究探讨了首席执行官双重身份在缓解委托人问题和提高创业成功率方面的有效性。首席执行官双重身份赋予首席执行官更多权力，可以缓解委托人问题；但首席执行官双重身份可能同时加剧首席执行官的代理问题。利用人工收集的 1403 家新成立的美国商业银行的面板数据，我们发现 CEO 双重性与新企业绩效之间存在正相关关系。当首席执行官同时也是其公司的创始人时，首席执行官双重性与新创企业绩效之间的关系就会加强，而当公司所有权份额反映了在位公司的大量投资时，这种关系就会减弱。我们的研究结果突出表明，风险治理需要同时解决委托和代理问题。
{"title":"Venture governance, CEO duality, and new venture performance","authors":"Mingxiang Li, Zhi Cao, Siri Terjesen","doi":"10.1002/sej.1495","DOIUrl":"https://doi.org/10.1002/sej.1495","url":null,"abstract":"How a new venture improves performance when facing both principal and agency problems is an important yet understudied question. This study examines the effectiveness of CEO duality in mitigating the principal problem and enhancing entrepreneurial success. By granting more power to CEOs, CEO duality can alleviate the principal problem; however, CEO duality may simultaneously exacerbate CEOs' agency problems. Using manually collected panel data on 1403 newly established U.S. commercial banks, we find a positive relationship between CEO duality and new venture performance. The CEO duality–new venture performance relationship strengthens when CEOs are also founders of their firms and weakens when the share of corporate ownership reflects heavy investment by incumbent firms. Our findings highlight that venture governance needs to address principal and agency problems simultaneously.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139110317","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The question of why and how strategic leaders differ in the ecosystems they envision is central to firms' digital transformation. We unpack the cognitive microfoundations of how strategic leaders form their ecosystem vision—a mental model of a firm's multilateral complementarities with its partners to realize a value proposition. Our motivated interactional lens emphasizes the role of strategic leaders' cognitive motivation for shaping four interaction types with (prospective) partners: participatory, selective, collaborative, and reclusive. We theorize how these interactions shape the changes strategic leaders make in their mental models, and thus, to envision different levels and types of complementarities with (prospective) partners in the digital transformation. Our theory illuminates the roles of strategic leaders, their cognitive motivations, and social interactions in firms' ecosystem leadership.
{"title":"Strategic leaders' ecosystem vision formation and digital transformation: A motivated interactional lens","authors":"Emmanuelle Reuter, Steven Floyd","doi":"10.1002/sej.1493","DOIUrl":"https://doi.org/10.1002/sej.1493","url":null,"abstract":"The question of why and how strategic leaders differ in the ecosystems they envision is central to firms' digital transformation. We unpack the cognitive microfoundations of how strategic leaders form their <i>ecosystem vision</i>—a mental model of a firm's multilateral complementarities with its partners to realize a value proposition. Our motivated interactional lens emphasizes the role of strategic leaders' cognitive motivation for shaping four interaction types with (prospective) partners: participatory, selective, collaborative, and reclusive. We theorize how these interactions shape the changes strategic leaders make in their mental models, and thus, to envision different levels and types of complementarities with (prospective) partners in the digital transformation. Our theory illuminates the roles of strategic leaders, their cognitive motivations, and social interactions in firms' ecosystem leadership.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2023-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139061365","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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