A Theory of Experimentation in New Ventures

Working Papers

Experimentation has been the center of a fascinating debate among entrepreneurship practitioners throughout the past decade. While intellectually stimulating and practically relevant, this discussion has received little attention from management research, and therefore has no scientific support. Read More

Experimentation and Appropriability in Early-Stage Ventures: Evidence from the U.S. Software Industry

Working Papers

This study examines the tension between learning and appropriability in the experimentation process of early-stage ventures. I build a stylized model to argue that, when formal intellectual property is weak, the learning benefit of experimentation may be offset by its imitation risk. Read More

Beyond Jacks-of-all-Trades: Functional Diversity of Work Experiences and Employee Corporate Venturing

Working Papers

Many large firms try to encourage entrepreneurial initiatives by their employees, but the question of which employees undertake such initiatives has not been explored. In this study, we argue that the formal division of labor within a firm affects employees’ likelihood of engaging in internal corporate venturing. Read More

Who Benefits from Having a Partner? Intrinsic Motivation, Partnership Decisions, and the Chance of Becoming a Profitable Firm

Working Papers

Entrepreneurs and entrepreneurial firms are often the drivers of innovation, and success for entrepreneurial firms often means development and introduction of innovative products and services. This project examines the role that having a partner plays in early-stage entrepreneurial firm performance.Read More

Multiplexity and Information Transmission: Evidence from the Diffusion of Microfinance in Rural India

Working Papers

This study evaluates how having multiple kinds of relations – multiplexity – affects diffusion by word-of-mouth information transmission. The study uses data from a field experiment in 49 remote villages in Karnataka, India.Read More

Intellectual Property Rights, Holdup, and the Incentives for Innovation Disclosure

Working Papers

We will examine the cost of inventor mobility from a talent poaching perspective. It is either prohibitively costly or impossible to contract over all states of the world (Grossman and Hart, 1986; Tirole, 1999).Read More

Borrow and Buy: Complementarity and Substitutability of Acquirer’s Alliances and Technology Acquisitions

Working Papers

I aim to contribute to corporate strategy and technology and innovation management literatures by refining the way we think about how firms’ externally accessible resources and capabilities influence those firms’ heterogeneous boundary choices and their resulting outcomes. Read More

The Dark Side of Outsourcing: Task Scope, Prior Vendor Relationships, and Market Value Creation in Software Services

Working Papers

As outsourcing expands in scope to increasingly higher-end tasks, the tension between value creation and appropriation in such inter-firm relationships raises important questions regarding the extent to which a firm should outsource activities in the value-chain and engage with its suppliers.Read More

Back to the familiar? How attention and rare experiences overcome local search in external technology sourcing.

Working Papers

In this paper, we develop and test a theoretical framework that considers how established firms forming partnerships with startups may be subject to spatial and temporal myopia and how these tendencies are moderated by the established firms’ histories of experiencing essential failures and successes in solving R&D problems. Read More

Capability-Enhancing Foreign Investments, and Evolution of Corporate Scope In Software Services Offshore Outsourcing: Market Reactions and Implications for Competitive Advantage

Working Papers

How does the stock market react to competitive actions by firms and their rivals? In this study we empirically explore capability-seeking investments by firms from different strategic groups within an industry and examine their impact on rival firms in the competitive context of global software services.Read More

Does Unlimited Vacation Benefit Firms? An Examination of How and When

Working Papers

This paper addresses the recent trend of offering unlimited vacation to employees. While potentially useful for acquiring human capital benefits, unlimited vacation is a risky perk for firms due to the possibility of abuse.Read More

Feedback and Contagion through Distressed Competition

Working Papers

Firms tend to compete on prices more aggressively when they are in financial distress; the intensified competition in turn reduces firms’ profit margins, pushing them further into distress. Competitors’ aggressive pricing reactions could be attributed to both predatory and self-defensive incentives.Read More

Algorithmic Literacy in the Labor Market

Working Papers

Using data on employer job search, this study demonstrates that employers are seeking algorithmic literacy from workers in a particularly broad class of occupations because familiarity with algorithms in downstream “using” occupations is important for integrating AI and data science into production. Read More

Economics of Leveraged Buyouts: Theory and Evidence from the UK Private Equity Industry

Working Papers

Empirical analysis of a sample of companies with private equity (PE) ownership in the UK shows that PE firms act as deep-pocket investors for their portfolio companies, rescuing them if they fall in financial distress.Read More

Initial Coin Offerings, Speculators, and Asset Tokenization

Working Papers

Initial Coin Offerings (ICOs) are an emerging form of fundraising for Blockchain-based startups. We propose a simple model of matching supply with demand with ICOs by companies involved in production of physical products.Read More

Physician-Industry Interactions: Persuasion and Welfare

Working Papers

In markets where consumers seek expert advice regarding purchases, firms seek to influence experts, raising concerns about biased advice. We combine a model of supply and demand with a local instrumental variables strategy based on regional spillovers from academic medical center conflict-of-interest policies. Read More

The Impact of Acquisitions on Clinical Decisions: Evidence from Physician Practice Management Companies

Working Papers

Mergers and acquisitions are rapidly transforming the organization of physician services in the United States, raising concerns over the cost and the quality of health care. This paper studies how medical practice acquisitions by Physician Practice Management Companies (PPMCs) impact physician behavior and patient health.Read More

The Short-run Effects of GDPR on Consumer Engagement and Search

Working Papers

In today’s connected world, individuals are no longer mere consumers of goods, information and services, but public producers of often valuable data. In fact, personal data is becoming such a core input that The Economist called it “the world’s most valuable resource” ahead of oil.Read More