Cahiers de recherche

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Départements : Stratégie et Politique d’Entreprise

The rate at which experimental studies are published in the field of strategy has steadily increased over the past few years. Still, experimental papers account for only a small fraction of strategy papers. This may not come as a surprise given the skepticism surrounding the experimental method, which is often seen as uninterested in establishing external validity, and too “micro” for a field in which the level of analysis is primarily organizational and inter-organizational. Is this skepticism founded? To what extent can experiments be a useful tool for strategy research? To answer this question, we start by examining experimental strategy papers published between 1980 and 2016. Results from the analysis alleviate doubts about the suitability of experimental methods for the study of questions of strategic interest to firms. We next discuss the main advantages associated with the use of experiments and why they make strategy an exciting field in which to be an experimentalist today.

Mots clés : Causal Inference, Experiments, Decision Making, Behavioral Strategy, Apophenia, Microfoundations


Départements : Stratégie et Politique d’Entreprise

We build a social structural model of fame, which departs from the atomistic view of prior literature where creativity is the sole driver of fame in creative markets. We test the model in a significant empirical context: 90 pioneers of the early 20th century (1910–25) abstract art movement. We find that an artist in a brokerage rather than a closure position was likely to become more famous. This effect was not, however, associated with the artist’s creativity, which we measured using both objective computational methods and subjective expert evaluations, and which was not itself related to fame. Rather than creativity, brokerage networks were associated with cosmopolitan identities—broker’s alters were likely to differ more from each other’s nationalities--and this was the key social-structural driver of fame.


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

To investigate time compression dis-economies (TCD), this study estimated time-cost elasticities using 459 oil and gas global investment projects (1997-2010). Results show that the average cost of accelerating investments is negative: a firm could cut $6.3 million in costs of a single project by accumulating asset stocks one month faster. About 88 percent of the projects exhibit negative time-cost elasticities with over 39 percent of unrealized economies of time compression. Only 12 percent of the projects are subject to TCD. These time inefficiencies or frictions do not negate the existence of TCD, but suggest they are less prevalent than assumed in the literature. Management experience, R&D investment, firm size, economic development and political stability are shown to be associated with greater time compression efficiency.

Mots clés : Sustainable Competitive Advantage, Temporal Frictions, Time Compression Diseconomies, Time Inefficiencies, Time-Cost Tradeoff


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

We consider the formation of alliances that potentially create complementarities, that is, when the value function is super-modular in firm resources. We show that, in a frictionless world where information is perfect and managers optimize, firm alliances disproportionately increase the value of high-resource-level firms, resulting in higher variance and higher skewness of the distribution of firm value; moreover, higher-value alliances are subject to regression to the mean at a faster rate. These effects are magnified if the degree of complementarities is endogenously determined by each firm’s investment. We also consider alliances where matching and/or information about firm resources are imperfect, and show that complementarities are a necessary but not sufficient condition for alliances to cause an increase in firm value; and that complementarities are neither a necessary nor a sufficient condition for alliances to be correlated with higher firm value.

Mots clés : Firm Alliances, Matching, Competitive Advantage


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

This review assembles two highly referenced streams of research in organization and management studies over the past decade: institutional logics and categories. We present the gist of each literature focusing on the interaction within and between organizations vis-à-vis the institutional logics and category systems that condition behavior. Then, we suggest that both streams have compatible assumptions that warrant further integration and suggest opportunities for future research stemming from (1) complementarities related to inter-and-intra-audience variance, formation and recombination of logics and categories, and actors’ identity and (2) differences related to theory level of analysis, incorporation of conflict, and methods of analysis. Integration can lead to better specified mechanisms, processes, and contexts important to improving accuracy and development of these research streams.

Mots clés : Institutional Logics, Categories


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

In this paper, we investigate family firms’ position in the intercorporate ownership network. Rooting our predictions in the Behavioral Agency Model and a Network analytical framework, we predict and find that family involvement decreases the likelihood of business group affiliation and of cross-group ties leading to a lower embeddedness within the overall network. We predict and find the opposite effect for community involvement. We use the complete longitudinal dataset of publicly listed firms’ corporate ownership ties in India (2001, 2005, and 2009). Theoretical and substantive contributions are to research on family businesses and to research on interorganizational networks.

Mots clés : Family Firms, Community, Embeddedness, Network


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

We advance research on corporate diversification by joining insights from the demand-side and relational views in strategy to offer a novel theory of client-led diversification. We propose that client-led diversification results from a combination of the customer-driven opportunities emphasized in the demand-side view and the creation of added value through relational assets that is a central tenet of the relational view. Furthermore, we hypothesize that suppliers’ client-specific knowledge, clients’ relational commitment to suppliers, and growth opportunities in clients’ markets (relative to the suppliers’ own markets) will magnify the client-led diversification effect. We test our hypotheses using a longitudinal dataset on patent law firms and their diversification into new domains of patent prosecution work for their corporate clients.


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

Organizational adaptation is a concept that describes both congruence within organizations, with respect to the strategies and structures deployed, and across organizations, with respect to the degrees to which organizations meet the expectations of their environments. A wide array of research traditions have explored the concept of adaptation, albeit with many different labels. This annotated bibliography tracks the foundations of organizational adaptation, its digressions, and its challenges. Such a review provides important resources for scholars interested in conducting research in organizational adaptation by identifying the multitude of perspectives that encompass adaptation.

Mots clés : Adaptation, Organizational Change, Strategic Choice


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

The impact of socially responsible corporate behavior on economic performance is a major preoccupation of managers today. This article explores the links between narrowly defined constructs: stakeholder orientation, environmental proactivity and profitability, from the perspectives of stakeholder theory and resource-based theory. We collected data on the food and beverage, and household and personal products, industries. Using structural equation modeling, this paper makes two contributions. We found a negative link between companies simply having a higher stakeholder orientation and profitability. Importantly, however, environmental proactivity not only had a positive impact on profitability, but also appeared to mediate the relationship between stakeholder orientation and profitability. In other words, if a company is more environmentally proactive, it will be more attentive to a broad array of stakeholders, and this will in turn contribute positively to profitability.

Mots clés : environmental proactivity, firm profitability, resource-based theory, stakeholder theory, stakeholder orientation


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

In this paper, we develop a theoretical model and offer a first empirical test of how competitive dethronement affects managerial risk taking. Drawing on the mechanism of endowment effect and reference-dependent utility theory, we predict that former market leaders take more risks compared to, otherwise identical, competitors. We empirically test this prediction using two contexts allowing us to use different methods to operationalize risk. The first setting draws on field data from a two-month banking sales contest. The second, quasi-laboratory, data comes from an educational game. Consistent with model’s prediction, we find that dethronement is associated with increased risk taking but that the endowment effect leading to such response decays over time. In contrast, a mere decline in performance ranking does not have the same effect.

Contacts  

Département Stratégie et Politique d’Entreprise

Campus HEC Paris
1, rue de la Libération
78351 Jouy-en-Josas cedex
France

Faculté  

Pierre DUSSAUGE

Stratégie et Politique d'Entreprise (GREGHEC)

Voir le CV

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