A5012467332- Corporate Finance and Governance
- Innovation and Knowledge Management
- Business Strategy and Innovation
- Management and Organizational Studies
- Capital Investment and Risk Analysis
- Economic Theory and Institutions
- Private Equity and Venture Capital
- Accounting and Organizational Management
- Outsourcing and Supply Chain Management
- International Business and FDI
- Intellectual Capital and Performance Analysis
- Firm Innovation and Growth
- Entrepreneurship Studies and Influences
- Law, Economics, and Judicial Systems
- Management Theory and Practice
- Digital Platforms and Economics
- Complex Systems and Decision Making
- Financial Reporting and Valuation Research
- Auditing, Earnings Management, Governance
- Experimental Behavioral Economics Studies
- Economic theories and models
- Auction Theory and Applications
- Corporate Social Responsibility Reporting
- Public Procurement and Policy
- Global and Cross-Cultural Management
University of Illinois Urbana-Champaign
2015-2024
Caterpillar (United States)
2011-2024
Allen Institute
2022-2024
Allen Institute for Brain Science
2022-2024
Council of Science Editors
2019
University of Illinois System
1998-2018
Small Business Administration
2002-2013
Illinois College
2012
University of Colorado Boulder
2009
University of South Carolina
2007
Abstract The resource‐based approach is an emerging framework that has stimulated discussion between scholars from three research perspectives. First, the theory incorporates traditional strategy insights concerning a firm's distinctive competencies and heterogeneous capabilities. also provides value‐added theoretical propositions are testable within diversification literature. Second, view fits comfortably organizational economics paradigm. Third, complementary to industrial organization...
Abstract This paper investigates interrelationships of product design, organization processes for learning and managing knowledge, competitive strategy. uses the principles nearly decomposable systems to investigate ability standardized interfaces between components in a design embed coordination development processes. Embedded creates ‘hierarchical coordination’ without need continually exercise authority—enabling effective tight coupling organizational structures. We develop concepts...
To help understand how firms develop and maintain dynamic capabilities, we examine the effects of dynamics, management, governance R & D marketing resource deployments on firm-level economic performance. In a sample technology-based entrepreneurial firms, find that history increased investments in is an enduring source competitive advantage. We also managers' firm-specific experience positively moderates relationship between deployment intensity returns. addition, institutional ownership...
Abstract Vertical integration is a fundamental corporate strategy of interest to the fields strategic management and organizational economics. This paper synthesizes theoretical arguments empirical findings from this literature identify underlying advantages disadvantages choosing vertical financial ownership relative contracts. It then suggests that in absence agency transaction costs, contracting are equivalent governance structures for achieving objectives. However, given world positive...
abstract We review and develop a subjectivist theory of entrepreneurship that focuses on individuals, their knowledge, resources skills, the processes discovery creativity, which constitute heart entrepreneurship. First, we establish fundamental importance subjectivity in entrepreneurial creativity. Second, build Penrose (1959 ) to elaborate how entrepreneurs' perceptions personal knowledge shape firm's subjective productive opportunity set . Third, explain partly originate from experiences...
Abstract This article maintains that the consistent application of subjectivism helps reconcile contemporary entrepreneurship theory with strategic management literature, particularly resource‐based view firm. The synthesizes theoretical insights from Austrian economics, Penrose's (1959) resources approach, and modern theory, focusing on essential subjectivity entrepreneurial process. new synthesis describes as a creative team act in which heterogeneous managerial mental models interact to...
Property rights theory has common antecedents with contractual theories of the firm such as transaction costs and agency theories, is yet distinct from these theories. We illustrate fundamental theoretical principles derived three by analyzing business case oil field unitization. Theoretical application to unitization are each summarized. From this, it possible see how property well suited explain situations where inefficient economic outcomes persist. Additionally, forges new connections...
The predominant focus in research on organizations is private or public institutions without consistent consideration of their interdependencies. emphasis scholarship interests has strengthened as disciplinary and professional knowledge deepened: Management scholars, for example, tend to consider the corporation unit analysis, whereas scholars policy often analyze governmental, multilateral, community, nonprofit organizations. This article advocates a partial merging these agendas grounds...
Transaction cost economics ( TCE ) is one of the most widely referenced organization theories in operations and supply chain management research. Even though a broadly applicable theory governance, its specific topics interest—the make‐or‐buy decision—readily aligns with some central research questions on how firms manage chains. However, both general researchers sometimes misunderstand misapply 's aims, assumptions, logic. A common mistake to read as competence or power. While relates both,...
Alzheimer's disease (AD) is the leading cause of dementia in older adults. Although AD progression characterized by stereotyped accumulation proteinopathies, affected cellular populations remain understudied. Here we use multiomics, spatial genomics and reference atlases from BRAIN Initiative to study middle temporal gyrus cell types 84 donors with varying pathologies. This cohort includes 33 male 51 female donors, an average age at time death 88 years. We used quantitative neuropathology...
ABSTRACT We argue that Rugman and Verbeke (2002 ) underestimate the importance of Penrose's (1959 contributions to modern resource‐based view firm. In particular, we take issue with Verbeke's arguments concerning our knowledge of: (1) creation competitive advantage, (2) sustaining (3) isolating mechanisms, (4) advantage economic rents. response, show Penrose has both directly indirectly influenced strategic management.
As this paper documents, Edith Tilton Penrose’s (1959) classic The Theory of the Growth Firm is one most influential books second half twentieth century bridging economics and management. Yet, there little understanding process by which came about lessons to be learned concerning research creativity. This explores ‘resources approach’ growth firm as an iterative scientific discovery via induction justification deductive reasoning. We focus on: (1) that led classic; (2) book’s contributions...
Abstract This study examines why and under what conditions firms will make unilateral relationship‐specific investments to their transaction partners. We propose that are more likely such when the investment yields positive economic spillover values for other transactions with same exchange partners as well third‐party transactions. also model two types of inter‐project effects a may generate: knowledge spillovers reputation spillovers. find empirical support our developed theory in context...
This paper explores how management theories can be extended and applied to innovation, experimentation, creativity in the public domain. Researchers various disciplines have studied entrepreneurship, but there is little research specifically on of organizations innovate interest. We begin by extending concepts entrepreneur domain, then turn role fostering institutional change. The conclusion refines theory state incorporate entrepreneurs organizing private institutions.
abstract This paper develops an integrative organizational economics framework explaining and predicting multinational firms' managerial resource deployments based on resource‐based, agency, transaction costs theories. Our empirical findings suggest that the governance decision for services of firms is influenced not only by comparative capabilities managers, but also economic to firm influencing behaviours managers through contracting.
Public organizations are relatively understudied in the strategic entrepreneurship literature. In this article, we submit that public usefully analyzed as entities create and capture value both private sectors a capabilities lens sheds important new insights on their behavior. As they try to value, can act entrepreneurially by creating or leveraging bundles of capabilities, which may then shape subsequent entrepreneurial action. Such processes involve complex interactions among actors. For...
Abstract This paper experimentally examines the determinants of deviation between potential and realized value creation in strategic alliances. To better understand how decision making alliances may influence success, we use an experimental design that juxtaposes two important factors affect alliance members' decisions: economic incentives communication. The evidence from our experiment sheds light on relative impact each, more importantly, both interact to explain successful outcomes....
Governance gives life to an organization by establishing the rules that shape organizational action. Structures of governance rest on stakeholder engagement, particularly how stakeholders assess prospects for earning a return committing their specialized resources organization. Once formalized, structures and processes can resist change. Yet, under special circumstances, some are party may seek adapt in response changes external environment surrounds Adaptation often requires renegotiation:...
This paper shows that market frictions are fundamental building blocks for an organizational economics approach to strategic management. Various economic approaches (transaction costs, property rights, real options, and resource‐based) have distinctive focal problems emphasize different combinations of frictions. A wider recognition the role is useful three main objectives. First, it helps identify evolving market‐frictions paradigm in Second, how two primary questions strategy why firms...
This paper elaborates on how the human capital perspective value creation can be advanced by joining capabilities and governance approaches. Investments in firm-specific an important pathway to building enhancing a firm's core competencies. Thus, it is vital build mechanisms systems that encourage development safeguarding of these capital-based capabilities. Our unpacks notion presents view why this form especially matters today's business context. We review pitfalls shortcomings traditional...
Research Summary In recent years, strategy scholarship expanded its scope beyond the realm of private firms. Despite notable advances, field still lacks theoretical and empirical frameworks for fully understanding how public nonprofit organizations interact with firms to create appropriate value. By recognizing inherent complexity interactions between different purposes existing challenges designing effective governance arrangements, we assess addresses some dilemmas related both value...