Articles

A Two-sided Matching Approach for Partner Selection and Assessing Complementarities in Partners’ Attributes in Inter-firm Alliances

D. MINDRUTA, M. MOEEN, R. AGARWAL

Strategic Management Journal

janvier 2016, vol. 37, n°1, pp.206-231

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : Alliance formation, Partner selection, Matching models, Complementarities, Empirical methods

http://ssrn.com/abstract=2536109


Strategic alliances are undertaken to create value through complementarities of resources and capabilities of the partner firms. We develop a matching framework to study strategic alliances, taking a market perspective that explicitly incorporates key features of transactions in strategic alliances: two sided decision making in voluntary collaboration; quest for complementarities between indivisible and heterogeneous partner attributes; and competition on each side for partners on the other side. We assess the relative performance of matching models and binary choice models when estimating parameters within simulations based on a known functional relationship. Within the context of research alliances in the bio-pharmaceutical industry, we hypothesize and find support using the matching model framework for complementarity in partner size, and in upstream research capabilities

Category Spanning, Evaluation, and Performance: Revised Theory and Test on the Corporate Law Market

L. PAOLELLA, R. DURAND

Academy of Management Journal

février 2016, vol. 59, n°1, pp.330-351

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : Categoryn Evaluation, Law firms, Mediation, Performance

http://ssrn.com/abstract=2648295


Studies suggest that category-spanning organizations receive lower evaluation and perform worse than organizations focused on a single category. We propose that (1) these effects are contingent on clients' theory of value and that as clients expect more sophisticated services, they tend to value category spanners more positively and (2) the evaluation of producers mediates the relationship between category spanning and performance. We test our hypotheses using original data on corporate legal services in three markets (London, New York City, and Paris) over the decade 2000-2010. We find that (1) category spanners receive a better evaluation, and more so when their categorical combination is more inclusive and (2) evaluation mediates significantly the relationship between category spanning and performance. This study enriches our understanding of how audiences apprehend a whole market category system and why organizations span categories

Classical Deviation: Organizational and Individual Status as Antecedents of Conformity

R. DURAND, P.-A. KREMP

Academy of Management Journal

février 2016, vol. 59, n°1, pp.65-89

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : Conformity, Deviance, Institutional theory, Status

http://ssrn.com/abstract=2637981


Beside making organizations look like their peers through the adoption of similar attributes (which we call alignment), this paper highlights the fact that conformity also enables organizations to stand out by exhibiting highly salient attributes key to their field or industry (which we call conventionality). Building on the conformity and status literatures, and using the case of major U.S. symphony orchestras and the changes in their concert programing between 1879 and 1969, we hypothesize and find that middle-status organizations are more aligned, and middle-status individual leaders make more conventional choices than their low- and high-status peers. In addition, the extent to which middle-status leaders adopt conventional programming is moderated by the status of the organization and by its level of alignment. This paper offers a novel theory and operationalization of organizational conformity, and contributes to the literature on status effects, and more broadly to the understanding of the key issues of distinctiveness and conformity

Do Ratings of Firms Converge? Implications for Managers, Investors and Strategy Researchers

A. CHATTERJI, R. DURAND, D. LEVINE, S. TOUBOUL

Strategic Management Journal

aout 2016, vol. 37, n°8, pp.1597–1614

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : Corporate social responsibility, Ratings, Corporate governance, Socially responsible investing, Performance measurement

http://ssrn.com/abstract=2524861


Raters of firms play an important role in assessing domains ranging from sustainability to corporate governance to best places to work. Managers, investors, and scholars increasingly rely on these ratings to make strategic decisions, invest trillions of dollars in capital and study corporate social responsibility (CSR), guided by the implicit assumption that the ratings are valid. We document the surprising lack of agreement across social ratings from six well-established raters. These differences remain even when we adjust for explicit differences in the definition of CSR held by different raters, implying the ratings have low validity. Our results suggest that users of social ratings should exercise caution in interpreting their connection to actual CSR and that raters should conduct regular evaluations of their ratings

Does Ownership Matter in Private Equity? The sources of Variance in Buyouts' Performance

F. CASTELLANETA, O. GOTTSCHALG

Strategic Management Journal

février 2016, vol. 37, n°2, pp.330-348

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : Corporate effects, Private equity, Variance decomposition, Multilevel analysis, Firm performance

http://ssrn.com/abstract=2507665


We study the impact of ownership on firm performance in an unexplored governance context: private equity (PE) firms and the buyouts in which they invest. We employ a multiple-membership, cross-classified, multilevel model on a unique database of 6,950 buyouts realized by 255 PE firms between 1973 and 2008 in 77 countries. The results document a significant PE firm effect (4.6%), the importance of which grows as time passes. We then study three contingencies that increase the importance of the PE firm effect: (a) value addition vs. selection strategies; (b) developed vs. emerging economies; and (c) economic downturns. Our findings shed new light on the sources of variance in buyouts’ performance

Does slack always affect resilience? A study of quasi-medium-sized Italian firms

Alessandra TOGNAZZO, Paolo GUBITTA, S. D. FAVARON

Entrepreneurship and Regional Development

2016, vol. 28, n°9-10, pp.768-790

Départements : Stratégie et Politique d’Entreprise

Mots clés : SMEs profitability, SMEs growth, crisis, organizational slack, Italian firms

http://www.tandfonline.com/doi/abs/10.1080/08985626.2016.1250820


Research on organizational slack, which has focused mainly on its effect in large, publicly traded firms and on transitional economies, has found that slack functions as a buffer in periods of crisis. However, little work has been done on the value of slack resources for smaller firms in mature industries. This study contributes to the resource-based literature with a quantitative analysis of a broad sample of Italian SMEs that operate in the traditional ‘Made in Italy’ industries. The purpose of the paper is to use longitudinal data from before and after the 2008 world financial crisis to determine whether slack resources drive growth and profitability in organizations with limited resources that operate in mature industries in periods of recession. The results of two-stage least squares regression indicate that, similar to their larger counterparts, small firms must secure high levels of profitability in order to achieve sound growth during recessions. Potential financial slack is equally important in driving profitability in these periods, although it is not related to higher growth. Investing in R&D does not affect small firms’ ability to be profitable and grow during recessions.

Employee Mobility and Organizational Outcomes: An Integrative Conceptual Framework and Research Agenda

J. K. MAWDSLEY, D. SOMAYA

Journal of Management

janvier 2016, vol. 42, n°1, pp.85-113

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : Employee mobility, Human capital, Relational capital, Organizational outcomes


A large and growing literature spanning multiple fields has identified employee mobility as a critical influence on several important organizational outcomes. However, extant research on the topic is highly fragmented and lacks a unifying theoretical framework, impeding the development of a cumulative conceptually-integrated body of research. We seek to remedy this situation by undertaking a review of research on employee mobility and its organizational impacts, and casting it within a novel integrative conceptual framework. As a critical foundation for this framework, we highlight how the various organizational impacts of employee mobility are ultimately engendered by different dimensions of human and/or relational capital that are conveyed by mobile individuals. Building on this foundation, we describe how multi-level contextual factors – characterized as attributes of the employee, source and destination firms, and environmental conditions – may moderate the transfer and utilization of human and relational capital held by mobile individuals. Finally, we review how constraining factors, such as labor market imperfections on both demand and supply sides, can impede employee mobility, and also how alternative competing channels – for example, alliances, networks and geographic spillovers, and acquisitions – may be used for effectuating the same organizational impacts as mobility events. These constraints and competing channels are important because they circumscribe the conditions under which employee mobility can be a critical influence on organizational outcomes. We seek to provide a rich integrative theoretical understanding of employee mobility, and spur future research on important unanswered research questions

Global Cities and Liability of Foreignness

K. MEHLSEN, G. WERNICKE

European Journal of International Management

2016, vol. 10, n°1, pp.78-94

Départements : Stratégie et Politique d’Entreprise

Mots clés : global cities; liability of foreignness; multinational enterprises; MNEs; institutional distance; location choices; cosmopolitanism; service availability; advanced producer services; interconnectedness; Nordic countries; Japan; industrial characteristics; globalisation

http://www.inderscience.com/info/inarticle.php?artid=73983


In this paper, we combine the concepts of location, liability of foreignness (LoF), and their relation to factors that drive multinational enterprises (MNEs) towards, or away from, global cities. We argue that three interrelated characteristics of global cities - cosmopolitanism, availability of advanced producer services, and interconnectedness - help MNEs to overcome the liability of foreignness. We operationalise liability of foreignness as institutional distance and analyse its influence on the worldwide location of a large sample of subsidiaries of Nordic and Japanese MNEs. Our results indicate that MNEs have a stronger propensity to locate in global cities than in metropolitan or peripheral areas, and that these locational choices are affected by institutional distance and industrial characteristics. The results provide empirical support for our argument that locating in a global city can reduce the liability of foreignness suffered by MNEs, and that global cities play a central role in the process of globalisation

L'Enseignement de la sociologie des organisations

Henri BERGERON, Erhard FRIEDBERG, Fabienne PAVIS, B. RAMANANTSOA, Jean-Claude THOENIG, Olivier TIRMARCHE, Gwenaële ROT, Denis SEGRESTIN

Entreprises et Histoire

septembre 2016, vol. 84, n°3, pp.123-142

Départements : Stratégie et Politique d’Entreprise

http://www.cairn.info/revue-entreprises-et-histoire-2016-3-page-123.htm


Quand et comment l’enseignement de la sociologie des organisations a-t-il débuté en France dans les universités, les écoles, les autres établissements, en formation initiale et en formation des adultes ? Quelles ont été les expériences d’enseignement dans les années 1970 ? Où en est cet enseignement aujourd’hui ? Quels sont les apports de la sociologie des organisations ?

Logic combination and performance across occupational communities: The case of French film directors

R. DURAND, A. HADIDA

Journal of Business Research

juillet 2016, vol. 69, n°7, pp.2371–2379

Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : Logic combination, Cinema, Occupational community, Cultural entrepreneur, France

http://www.repository.cam.ac.uk/handle/1810/247283


This article analyzes the effects of logic combination on cultural entrepreneurs' performance in both their original (artistic) and new (business) occupational communities. An analysis of the impact of the director-producer logic combination on artistic and commercial performance in French cinema confirms an asymmetry in outcomes: (1) although performance in the original artistic community is impaired by repeated logic combination (receiving fewer awards), (2) performance in the new business community benefits from logic combination (increased box office returns) as long as directors remain close to the boundary separating their original and new occupational communities


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