Articles

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

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

Equity crowdfunding: A new phenomena

N. VULKAN, T. ASTEBRO, M. FERNANDEZ SIERRA

Journal of Business Venturing Insights

juin 2016, vol. 5, pp.37–49

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

Mots clés : Equity crowdfunding, UK, Campaign success

http://dx.doi.org/10.2139/ssrn.2700236


Crowdfunding has recently become available for entrepreneurs. Most academic studies analyse data from rewards-based (pre-selling) campaigns. In contrast, in this paper we analyse 636 campaigns, encompassing 17,188 investors and 64,831 investments between 2012 and 2015, from one of the leading European equity crowdfunding platforms. We provide descriptive statistics and carry out cross-campaign regression analysis. The descriptive statistics address its size, growth and geographic distributions in the UK. The regressions analyse which factors are associated with the probability of a successful campaign. We find some similarities and some interesting dissimilarities when comparing the descriptive statistics and regression results to research on rewards-based crowding. The data show that equity crowdfunding will likely pose great challenges to VC and business angel financiers in the near future. We discuss some research challenges and opportunities with these kind of data

Hierarchies and entrepreneurship

J. TAG, T. ASTEBRO, P. THOMPSON

European Economic Review

octobre 2016, vol. 89, pp.129–147

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

Mots clés : Entrepreneurship, Employee mobility, Hierarchy, Rank; Small firm effect

http://www.sciencedirect.com/science/article/pii/S0014292116301179


We establish a correlation between the hierarchical structure of a firm and the likelihood of business creation among its former employees, using a sample of 16 million observations of Swedish workers and a novel proxy for hierarchies based on occupation data. Conditional on firm size and many other variables, employees in firms with more layers are less likely to enter entrepreneurship, to become self-employed, and to switch to another employer. The effects of layers are much stronger for business creation than for job-switching and they are stronger for entrepreneurship than for self-employment. We discuss two potential explanations for the distinctive hierarchy effect we find. Part of the effect could be to be due to preference sorting by employees, and part due to employees in firms with fewer layers having a broader range of skills. One test showing that the probability of entrepreneurship increases with their prior rank in an organization is consistent with ability sorting and inconsistent with preference sorting

Invention Quality and Entrepreneurial Earnings: The Role of Prior Employment Variety

T. ASTEBRO, K. YONG

Entrepreneurship: Theory and Practice

mars 2016, vol. 40, n°2, pp.381-400

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

http://ssrn.com/abstract=2744148


We use creativity theory to analyze the effects of occupational job variety and industry variety on invention quality, and entrepreneurial earnings. We test our ideas with survey data from 770 inventor–entrepreneurs who commercialized their own inventions. Results suggest that occupational and industry variety substitute for each other in positively affecting invention quality whereas a lack of industry variety is associated with greater entrepreneurial earnings. Results are consistent with the idea that high levels of both occupational and industry variety enables the generation and discovery of inventions, but these ideas are usually not technically feasible or financially viable

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


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

Taking a Second Look in a Warped Crystal Ball: Explaining the Accuracy of Revised Forecasts

V. BACON-GERASYMENKO, R. COFF, R. DURAND

Journal of Management Studies

décembre 2016, vol. 53, n°8, pp.1292-1319

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

Mots clés : Forecasting, Syndication, Value-adding commitment, Venture capital


The fundamental questions we address are whether firms with a higher initial forecasting ability are able to accurately revise the exit forecasts of their investments; and how co-investment partners and value-adding commitment with their investment influence the main effect. We explore these questions with novel and unique data collected via mixed research methods on venture capital firms’ forecasts of 114 portfolio companies. We find that venture capital firms that are better at making initial forecasts are less effective in revising their forecasts. In addition, while the number of co-investment partners positively moderate this relationship, venture capital firms’ value-adding commitment moderates it negatively. Our findings contribute to the literature on organizational forecasting as well as inter-organizational knowledge transfer and knowledge creation. They also provide novel insights into venture capital literature and practice


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