This paper examines the relationship between the licensing of knowledge and the creation of product innovations. We consider that firms organize licensing activities in different ways and that licensees are heterogeneous with respect to the attention available to apply and transform in-licensed knowledge to create new product innovations. …Read More
University-based research is an important generator of fundamental scientific knowledge in society, and may also be the basis for valuable commercial activity. We aim to update and extend our knowledge of the processes of translating academic discoveries and inventions by studying the administrative data from Penn Center for Innovation (PCI). …Read More
In recent years, digital innovations have fundamentally changed how many services and resources are put together and deployed. These include marketplaces like Uber and Airbnb that help match decentralized supply with demand. …Read More
In this project, I am continuing to use the empirical context of the evolution of cardiac surgery regulation in New York State to understand the challenges involved using empirically-documented social science findings into public policy. …Read More
In this study, we identify a novel pattern of deal-making activity—spinoffs followed by acquisitions—that has yet to be analyzed in the corporate strategy literature. We present a set of descriptive results showing that firms undertake spinoffs followed by acquisitions at a rate that is too high to be attributable to random chance.…Read More
Word-of-mouth testimonials from consumers are effective in driving online sales. But these signals are even more powerful in communities where people have closer ties and trust each other, according to new research by Wharton marketing professor David Bell and Jae Lee. …Read More
This study investigates a recent phenomenon in the market for technology: online marketplaces for technological inventions, which support the listing, search, and exchange of technological inventions by sellers and buyers. Focusing on three salient theoretical factors that affect markets for technology—search costs, ambiguity about the underlying knowledge and its applications, and expropriation concerns—our research systematically explores which industries are served by online marketplaces.…Read More
Although knowledge assets provide multinational corporations with competitive advantages in foreign markets, it can be difficult for firms to protect their knowledge in foreign countries – especially countries with weak intellectual property (IP) protection.…Read More
We develop and apply a new set of empirical tools consistent with the tenets of value-based business strategies, leveraging the principle that “no good deal comes undone” and the methods of revealed preferences to empirically estimate drivers of value creation.…Read More
We study information aggregation in organizational decision-making for the financing of entrepreneurial ventures. We introduce a formal model of voting where agents face costly tacit information to improve their decision quality.…Read More
In this project, we explore the impact of startup firms’ social media activities on their entrepreneurial financing performance. Social media can mitigate information problems in entrepreneurial financing in two ways.…Read More
This paper considers the possibility of efficient trade in bilateral bargaining through an informed broker. I propose a cross-subsidization mechanism that implements efficient trade in dominant strategies. I provide a condition on the broker’s information such that efficient trade can be achieved.…Read More
This paper investigates how spin-offs affect capital allocation decisions in diversified firms. The sensitivity of capital expenditures to investment opportunities, representing the efficiency of capital allocation decisions, improves when firms undertake spin-offs.…Read More
Though one-stop shops seem like an obvious business strategy, research finds that client-supplier relationships play a stronger role in value creation.…Read More
Crowdfunding platforms such as Kickstarter have been popular in the U.S. for several years, allowing everyday consumers to fund entrepreneurial ventures in return for the finished product. While such “reward-based” crowdfunding can open many doors for entrepreneurs, could it also close others?…Read More
Our study examines the relationship between a firm’s multinationality and its performance. In a much-cited study, Lu and Beamish (2004) found evidence of an S-shaped relationship—with firm performance first decreasing, then increasing, then decreasing again as firms internationalized—in a sample of Japanese firms from 1986 to 1997.…Read More
Dealing with the threat of new entrants into its market is among the most fundamental strategic imperatives for any firm. This threat could be enhanced for various reasons, most prominently institutional or technological changes.…Read More
Innovative new products come with hope, but also risk that they will not work as well as hoped. Thus testing and monitoring are key strategic decisions of an innovative firm in any market, and in some markets these strategic decisions will be intertwined with government regulatory policy.…Read More
In knowledge-based industries, continuous human-capital investments are essential for firms to enhance capabilities and sustain competitive advantage. However, such investments present a dilemma for firms, because human resources are mobile.…Read More
Betting on the most promising new ideas is key to creativity and innovation in organizations, but predicting the success of novel ideas can be difficult. To select the best ideas, creators and managers must excel at “creative forecasting”—i.e., predicting the outcomes of new ideas.…Read More
