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Journal Review by Akshay S. Bhat, XLRI        Strategic       Management         Journal                                  ...
Disclaimer               Information                                           Some verbatim            Extracted from the...
Work I have done is original and my own effort      • No Outsourcing, Collusion      • May have not gone in depth to the d...
History              “The Strategic Management            Society was founded at an initial               meeting in Londo...
Membership•   SMS has nearly 3,000 members from more than eighty different countries. Membership is open to    anyone who ...
Initiatives  The Strategy Research Foundation (SRF)                              The SRF provides support, primarily in th...
SMS - Academia1/24/2013      Akshay S Bhat,XLRI   7
Prefatorily                                    Aspects of Strategic                                       Management      ...
Themes1/24/2013   Akshay S Bhat,XLRI   9
The influence of executive cognition on competitive dynamics                                                              ...
Call For                         Papers                      Audience            Answers                        Questions1...
According                        to SMJ• Influential work asks questions that a  particular audience believes are importan...
Papers must be within the four dimensions (which are         true for all SMJ articles I have read) Traditional and/or   •...
Two                                           elements                                           to every                 ...
Circa                                                   2012    January to     July was      studied                 Segre...
Break                                                           up                                                        ...
2012                         Topic                       Nos   Percentage            Strategic Resource Allocation        ...
2012 SE (Jun)                 Special Edition Focus            Evaluation            Organizational Structure            O...
Circa                                                    2011                                                             ...
Circa                               2011                   Conceptual                      3%                             ...
Circa                                     2011                          Topic                   Nos   Percentage          ...
Circa                                               2010                                                   Strategic Resou...
Circa                               2010                          Topic                  Nos Percentage            Strateg...
Circa                                             2010                                                                    ...
New Section Introduced•    Research Prospective, a new feature of the Strategic Management Journal    (SMJ).•    SMJs goal...
Diminishing, Surging                                    Trends                                      2012 2011 2010        ...
20121/24/2013   Akshay S Bhat,XLRI   27
Seminal                                                  Papers                                                Jan 2012   ...
Seminal                                               Papers                                             Jan 2012When does...
Kind of                           Hypothesis• “Hypothesis 1: CVC funding will be more beneficial to  new venture performan...
MethodologyResearch setting, data, and sample (Extracted Verbatim, internal purposes only)•   We used the VentureXpert dat...
My take-                          Jan 2012• Topics are relevant• Heavily Quant Based• Controlled Environment• Sample findi...
Just to                         Clarify• “Another limitation involves our sample, which  includes only new ventures receiv...
Jan                                           2012                                          Paper 2The differing effects o...
Paper 2                                                   Cntd. Jan                                                     20...
Paper 2                        Cntd. Jan                          2012• Richness of Data, Controlled1/24/2013           Ak...
Jan                           2012                          Article 2longitudinal dataset of both public and private cable...
Jan                          2012                         Article 2            Snapshot of the Article, SMJ 2012, Jan.1/24...
June                                                    2012 SE     Sailing into the wind: Exploring the relationships amo...
June                                                  2012 SESailing into the wind: Exploring the relationships among ambi...
Proposed               Model –                 Cntd.                       • While our qualitative                        ...
Cntd. Exploration,                                              Exploitation, Performance•   “Given our assumptions, Figur...
•   Again Special Edition while focusing on the non Quant Areas/Basically a bit away    from panel data had an Element of ...
June                                  2012 SE                                    2nd                                   Pap...
What this                                          paper                                         tells us•   Integrate ins...
June                            2012 SE                              2nd                             Paper                ...
June                                                2012 SE                                                  2nd          ...
August                                                         2012While product market choices have been central to strat...
August                                                       2012But to study this they took US and UK firmsUnited States ...
August                                                            2012A firms initial choice of capital market in which to...
I                             thought                     This was a new perspective             Can I co-relate this with...
20111/24/2013   Akshay S Bhat,XLRI   52
Just to                                   Recapitulate, Leaders                                       hip is new..        ...
Jan 2011                                                  joint ventures;                                                 ...
Feb                                           2011TESTING MANAGEMENT THEORIES: CRITICAL REALIST PHILOSOPHY AND RESEARCHMET...
Feb                                             2011“Some challenges to testing management theories are inherent to thecom...
Suggested..1/24/2013   Akshay S Bhat,XLRI   57
April                                       2011Are family-friendly workplace practices a valuable firm resource?Work-life...
Few Qualitative studies in SMJ, but was backed by Quantitative dataInterviews took about 50 minutes on average and were ru...
Strategic                        Conceptual                           4%                                              Pape...
Will cover just                                               one, the one on                                             ...
Geographic Diversity –                         Extracted from an old                               SMJ Paper• Membership o...
1/24/2013   Akshay S Bhat,XLRI   63
1/24/2013   Akshay S Bhat,XLRI   64
Afterthought• A typical article in 1980 was a 15-page single-authored theory piece  using 20 references that probably took...
• ‘more empirical research is needed in the field.  We do not want for theories, but we do want for  theories that have be...
Thank You1/24/2013     Akshay S Bhat,XLRI   67
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Strategic Management Journal

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A succinct overview of the trends in the reputed Strategic Management Journal for the last two years.

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Strategic Management Journal

  1. 1. Journal Review by Akshay S. Bhat, XLRI Strategic Management Journal Tier I Journal1/24/2013 Akshay S Bhat,XLRI 1
  2. 2. Disclaimer Information Some verbatim Extracted from the statements have websites, hardcopy not been italicized of SMJ What the presenter It may not be very may deem comprehensive but important may not will act as an be your point of indicator of the view. Kindly trends in SMJ appreciate differences1/24/2013 Akshay S Bhat,XLRI 2
  3. 3. Work I have done is original and my own effort • No Outsourcing, Collusion • May have not gone in depth to the degree required in a few cases • Ethics maintained1/24/2013 Akshay S Bhat,XLRI 3
  4. 4. History “The Strategic Management Society was founded at an initial meeting in London in 1981, founding officers were elected on a second conference held in Montreal in 1982, and the founding constitution was drawn and approved at the third meeting in Paris in 1983. There were 459 original founding members of the Society”1/24/2013 Akshay S Bhat,XLRI 4
  5. 5. Membership• SMS has nearly 3,000 members from more than eighty different countries. Membership is open to anyone who is active in the Strategic Management field, either as an academic scholar or teacher, as a business practitioner, or in a consulting capacity. There are three distinct memberships.Regular• Regular membership is open to all individuals who are actively involved in the field of Strategic Management. The membership provides opportunities for exchange and networking through enrollment and participation in two of the currently ten Interest Groups. Involvement in meetings, conferences and calls for papers and proposals are offered to all members, as are preferential rates to all meetings and conferences and discounts for the SMS Book Series. Membership spans an entire calendar year, and includes subscriptions to all three journals.Emeritus• Emeritus membership is offered to individuals who are passed the age of 65 and have been an SMS member for at least 10 years. These individuals can request to have their membership status changed to Emeritus. All rights of the full membership remain.Student• Student membership is offered to individuals who are enrolled full-time, in-residence at the PhD granting institution. Individuals can be SMS student members for up to 5 years. For the initial year of student status, proof of enrollment from the PhD granting institution and confirmation letter from a major professor is required. All rights of the regular membership exist.1/24/2013 Akshay S Bhat,XLRI 5
  6. 6. Initiatives The Strategy Research Foundation (SRF) The SRF provides support, primarily in the • support the generation, form of research grants, to academic • preservation researchers with the aim of promoting their • dissemination of new knowledge in the field of Strategic research and inviting them to tackle problems Management. and issues as defined in the annual SRF call for proposals for the General Research Program and the Dissertation Research Program.1/24/2013 Akshay S Bhat,XLRI 6
  7. 7. SMS - Academia1/24/2013 Akshay S Bhat,XLRI 7
  8. 8. Prefatorily Aspects of Strategic Management Overall, SMJ provides Improvement and a communication Development of forum for advancing Theory –Acads & strategic management Practice theory and practice. Editorial Board acts as Updated and referees plus critiques warranted are published1/24/2013 Akshay S Bhat,XLRI 8
  9. 9. Themes1/24/2013 Akshay S Bhat,XLRI 9
  10. 10. The influence of executive cognition on competitive dynamics Leadership Testing management theories: critical realist philosophy and research methods Evaluation February Exclusivity in licensing alliances: using hostages to support technology commercialization Strategic Alliances The intra-alliance division of value created through collaboration Strategic Alliances A dual agency view of board compensation: the joint effects of outside director and CEO stock options on firm risk Leadership Mutual dependence, partner substitutability, and repeated partnership: the survival of cross-border alliances Strategic Alliances Clarifying the conditions and limits of the contributions of ordinary and dynamic capabilities to relative firm performance Strategic Resource Allocation March MNEs and corruption: the impact of national institutions and subsidiary strategy Evaluation My Who gets the carrot and who gets the stick? Evidence of gender disparities in executive remuneration Capture, governance, and resilience: strategy implications from the history of Rome Are family-friendly workplace practices a valuable firm resource? The implementation and structuring of divestitures: the units perspective Evaluation Strategic Decision Making Strategic Resource Allocation Strategic Resource Allocation Study April Strategic change and termination of interfirm partnerships Strategic Alliances Effects of alliances, time, and network cohesion on the initiation of foreign sales by new ventures Strategic Alliances Role of resource gap and value appropriation: effect of reputation gap on price premium in online auctions Evaluation Actions speak louder than modes: antecedents and implications of parent implementation capabilities on business unit performance Strategic Alliances Resources, environmental change, and survival: asymmetric paths of young independent and subsidiary organizations Leadership May Domestic mindsets and early international performance: The moderating effect of global industry conditions Strategic Alliances Shadow of the contract: how contract structure shapes interfirm dispute resolution Conceptual The relationship between networks, institutional development, and performance in foreign investments Strategic Decision Making Mental models, decision rules, and performance heterogeneity Strategic Resource Allocation Corporate Governance and returns on information technology investment: evidence from an emerging market Strategic Decision Making June Synergy, coordination costs, and diversification choices Strategic Alliances Firm resources, competitive actions and performance: investigating a mediated model with evidence from the in-vitro diagnostics industry Planning ProcessesAugust 2010 to July 2012 Multinationals response to major disasters: how does subsidiary investment vary in response to the type of disaster and the quality of country governance? Erratic strategic decisions: when and why managers are inconsistent in strategic decision making Governing collaborative activity: interdependence and the impact of coordination and exploration Organizational Purpose Strategic Decision Making Strategic Alliances The effects of board human and social capital on investor reactions to new CEO selection Leadership July Whats all that (strategic) noise? anticipatory impression management in CEO succession Leadership The role of technical expertise in firm governance structure: evidence from chief financial officer contractual incentives Strategic Resource Allocation Global equity offerings, corporate valuation, and subsequent international diversification Strategic AlliancesAll 24 months covered as per the assignment Differences in managerial discretion across countries: how nation-level institutions affect the degree to which ceos matter Where can capabilities come from? network ties and capability acquisition in business groups August Integrating distributed work: comparing task design, communication, and tacit coordination mechanisms Leadership Strategic Resource Allocation Planning Processes Geographic distance and corporate acquisitions: signals from IPO firms Strategic Decision Making When are assets complementary? star scientists, strategic alliances, and innovation in the pharmaceutical industry Strategic Alliances Doing good deeds in times of need: a strategic perspective on corporate disaster donations Evaluation Opportunistic behaviors in franchise chains: the role of cohesion among franchisees ConceptualComprehensive Excel Sheet September Fast and expensive: the diffusion of a disappointing innovation The impact of norm-conforming behaviors on firm reputation Leaving our comfort zone: Integrating established practices with unique adaptations to conduct survey-based strategy research in nontraditional contexts Evaluation Organizational Purpose Organizational Structure Entry into new niches: the effects of firm age and the expansion of technological capabilities on innovative output and impact Strategic Decision Making Boards, CEOs, and surviving a financial crisis: Evidence from the internet shakeout Leadership The benefits of geographic sales diversification: How exporting facilitates capital investment Strategic Decision Making The value of relational learning in global buyer-supplier exchanges: a dyadic perspective and test of the pie-sharing premise Strategic AlliancesAssigned as per the areas promulgated by SMJ October Examining the performance effects of post spin-off links to parent firms: should the apron strings be cut? Evolving communication patterns in response to an acquisition event MNC strategies, exogenous shocks, and performance outcomes Strategic Alliances Organizational Structure Strategic Decision Making Estimating the patent premium: Evidence from the Australian Inventor Survey Strategic Resource Allocation CEO Dismissal: The role of investment analysts Leadership Social networks and opportunity recognition: A cultural comparison between Taiwan and the United States Strategic Resource Allocation November Value creation and value capture with frictions Organizational PurposeDemarcated only one category, overlapping was eliminated The advantage of foreignness in innovation Utangling Dynamic and Operational Capabilities: Strategy for the (N)ever-Changing World Strategic Resource Allocation Strategic Resource Allocation Do switching costs mediate the relationship between entry timing and performance? Strategic Decision Making Platform envelopment Evaluation December SESimple Statistics done to analyze trendsSeminal Papers were comprehensively Studied (A few have been included in todays presentation)Expectations from SMJ, Call for papersWhat I feel they look at1/24/2013 Akshay S Bhat,XLRI 10
  11. 11. Call For Papers Audience Answers Questions1/24/2013 Akshay S Bhat,XLRI 11
  12. 12. According to SMJ• Influential work asks questions that a particular audience believes are important and• provides answers that the audience believes arise from reliable research design audiences, questions, and answers in the discipline of strategic management scholarship by publishing papers that provide advances in research methods1/24/2013 Akshay S Bhat,XLRI 12
  13. 13. Papers must be within the four dimensions (which are true for all SMJ articles I have read) Traditional and/or • more reliable answers to traditional • questions within existing fields of enquiry, as well as work that opens up new new questions questions and/or expands the audience Within and/or • work that builds within traditional qualitative, quantitative, and logical methodological disciplines and/or work that pulls together intersections of across methods insights across methods Within and/or • that demonstrates how to apply methods used in other fields to • strategic management research as well as work that changes traditional methods in ways that make them more directly applicable to strategic management across fields: questions and scholars Theory-data • varied positions along the theory-data continuum, including developing theory, testing theory, examining data, describing phenomena, and/or improving continuum: reliability and accuracy.1/24/2013 Akshay S Bhat,XLRI 13
  14. 14. Two elements to every paper Core: focused core discussion that addresses Supplement the three important points I discussed in the last slide Second, where appropriate, a supplement that includes data, proofs, techniques, and/or other background materials. Ideally, readers of the articles will have access to materials, data, and techniques that will help them learn the methods and apply them to their own work.1/24/2013 Akshay S Bhat,XLRI 14
  15. 15. Circa 2012 January to July was studied Segregation into important themes Strategic Org. Prominent Resource Decision Evaluation Leadership Structure Making Strategic Alliances (Once a favorite), Entrepreneurship covered albeit in backdrop1/24/2013 Akshay S Bhat,XLRI 15
  16. 16. Break up ConceptualPlanning Process Strategic Alliances 1 Strategic Resource Allocation 3 5 2% 7% 11% Organizational Structure Strategic Decision Leadership 7 16% Entrepreneurship Strategic Resource Allocation Organizational Purpose 9 20% Evaluation Planning Process Strategic Decision Organizational Structure 6 Strategic Alliances Evaluation Leadership 13% 9 Conceptual 4 20% 9% Organizational Purpose Entrepreneurship 1 0 2% 0%1/24/2013 Akshay S Bhat,XLRI 16
  17. 17. 2012 Topic Nos Percentage Strategic Resource Allocation 7 17.5 Organizational Structure 2 5 Leadership 2 5 Entrepreneurship 0 0 Organizational Purpose 4 10 Evaluation 11 27.5 Organizational Process 1 2.5 Strategic Decision Making 5 12.5 Strategic Alliances 5 12.5 Conceptual 3 7.5 401/24/2013 Akshay S Bhat,XLRI 17
  18. 18. 2012 SE (Jun) Special Edition Focus Evaluation Organizational Structure Organizational Purpose Leadership Strategic Resource Allocation Strategic Resource Allocation Strategic Alliances Organizational Structure1/24/2013 Akshay S Bhat,XLRI 18
  19. 19. Circa 2011 Strategic Alliances Resource Allocation Organizational Stark Differences Structure , Strategic Prominent, Leadership Full Year was analyzed Alliances, Process was again popular Related Papers were high Process Evaluation Strategic Decision Making Leadership (Only CEO’s? Why?)1/24/2013 Akshay S Bhat,XLRI 19
  20. 20. Circa 2011 Conceptual 3% Strategic Resource Allocation 18% Organizational Strategic Alliances Structure 22% 5% Strategic Decision Leadership Making 14% 15% Evaluation Entrepreneurship Organizational Planning 14% 0% Purpose Processes 6% 3%1/24/2013 Akshay S Bhat,XLRI 20
  21. 21. Circa 2011 Topic Nos Percentage Strategic Resource Allocation 12 18.46 Organizational Structure 3 4.62 Leadership 9 13.85 Entrepreneurship 0 0.00 Organizational Purpose 4 6.15 Evaluation 9 13.85 Planning Processes 2 3.08 Strategic Decision Making 10 15.38 Strategic Alliances 14 21.54 Conceptual 2 3.08 651/24/2013 Akshay S Bhat,XLRI 21
  22. 22. Circa 2010 Strategic Resource Allocation Papers 2010 Conceptual Organizational 4% 8% Structure 7% Strategic Alliances 19% Leadership 11% Strategic Decision Making 22% Evaluation 22% Entrepreneurship 7% Organizational Planning Processes Purpose 0% 0%1/24/2013 Akshay S Bhat,XLRI 22
  23. 23. Circa 2010 Topic Nos Percentage Strategic Resource Allocation 2 7.41 Organizational Structure 2 7.41 Leadership 3 11.11 Entrepreneurship 2 7.41 Organizational Purpose 0 0.00 Evaluation 6 22.22 Planning Processes 0 0.00 Strategic Decision Making 6 22.22 Strategic Alliances 5 18.52 Conceptual 1 3.70 271/24/2013 Akshay S Bhat,XLRI 23
  24. 24. Circa 2010 Strategic Decision Old time favorite was But noted that SEJ has been handling Making andthe ones popular in the Entrepreneurship was Entrepreneurship since Evaluation, Process subsequent years prominent then Related are important topics1/24/2013 Akshay S Bhat,XLRI 24
  25. 25. New Section Introduced• Research Prospective, a new feature of the Strategic Management Journal (SMJ).• SMJs goal of promoting, in an impactful way, the future direction of the strategic management field. SMJ will publish occasional Research Prospectives (RPs), which will be short articles that can generate and focus intellectually stimulating debate on strategic management research.• first RP, a highly engaging discussion by Connie Helfat and Sid Winter that addresses opportunities to advance research on dynamic capabilities, appeared in the November 2011 issue.• The RP places the dynamic capabilities research stream in a critical spotlight, illuminates important issues to be addressed, clarifies concepts, and helps provide a robust foundation for future research• Generally 1~2 per issue1/24/2013 Akshay S Bhat,XLRI 25
  26. 26. Diminishing, Surging Trends 2012 2011 2010 Topic Nos Nos Nos Strategic Resource Allocation 7 12 2 Organizational Structure 2 3 2 Leadership 2 9 3 Entrepreneurship 0 0 2 Organizational Purpose 4 4 0 Evaluation 11 9 6 Organizational Process 1 2 0 Strategic Decision Making 5 10 6 Strategic Alliances 5 14 5 Conceptual 3 2 11/24/2013 Akshay S Bhat,XLRI 26
  27. 27. 20121/24/2013 Akshay S Bhat,XLRI 27
  28. 28. Seminal Papers Jan 2012 Strategic Resource When does corporate venture capital add value for new ventures? Allocation The differing effects of agent and founder CEOs on the firms market expansion Leadership The Impact of Local Demand on Innovation in a Global Industry Evaluation StrategicJan Who leaves, where to, and why worry? employee mobility, entrepreneurship and effects Resource on source firm performance Allocation Strategic Decision Entry into platform-based markets Making Prospectives section of Strategic Management Journal Evaluation The search for asterisks: Compromised statistical tests and flawed theories Conceptual1/24/2013 Akshay S Bhat,XLRI 28
  29. 29. Seminal Papers Jan 2012When does corporate venture capital add value for new ventures?New ventures face a trade-off when considering corporate venture capital (CVC) funding.Corporate investors can provide complementary assets that enhance the commercialization ofnew venture technologies.However, tight links with a particular corporate investor has drawbacks and may constrain newventures from accessing complementary assets from diverse sources in an open market.Explore conditions under which CVC funding is beneficial to new ventures. Using a sample ofcomputer, semiconductor, and wireless venturesCVC funding is particularly beneficial for new ventures when they require specializedcomplementary assets or operate in uncertain environments.1/24/2013 Akshay S Bhat,XLRI 29
  30. 30. Kind of Hypothesis• “Hypothesis 1: CVC funding will be more beneficial to new venture performance when new ventures require specialized complementary assets compared with new ventures that require generic complementary assets.• Hypothesis 2: CVC funding will be more beneficial to new venture performance when new ventures operate in uncertain environments compared with new ventures that operate in stable environments.”• Not simple flowing hypothesis but rather well thought of…1/24/2013 Akshay S Bhat,XLRI 30
  31. 31. MethodologyResearch setting, data, and sample (Extracted Verbatim, internal purposes only)• We used the VentureXpert database as our primary source of data on new ventures, their investors, and VC funding deals. We supplemented the VentureXpert database with several sources, including LinkSV (www.linksv.com), the Internet Archive service (www.archive.org), Factiva, Lexis-Nexis, and hand collected data from Internet searches to increase the accuracy of the data and reduce missing data. In addition, we used COMPUSTAT, the U.S. Patent and Trademark Office (USPTO), and Security Data Corporation (SDC) databases to collect data for various control variables.• Our sample consisted of 198 wireless communications service (VentureXpert code = 1320), 111 computer hardware (VentureXpert code = 2100), and 199 semiconductor (VentureXpert code = 3111//3112) ventures founded in the United States that received their first round of funding from CVC and/or IVC funds between 1990 and 2003. Our sample period facilitated a reasonably complete dataset of venture investments as the frequency of missing data from the VentureXpert database was substantially greater for investments prior to 1990. CVC activities also became prevalent after 1990 (Gaba and Meyer, 2008). A sample period ranging over 14 years ensured sufficient variance of environmental factors, enabling us to test our hypotheses.1/24/2013 Akshay S Bhat,XLRI 31
  32. 32. My take- Jan 2012• Topics are relevant• Heavily Quant Based• Controlled Environment• Sample findings• Sample Size range around 200/500 in most papers• Laboratory Set up feel• Lots of Assumptions• I could be wrong in interpretation• Dependent on standardized data (Databases, Reports etc.)• Ivory Tower Research1/24/2013 Akshay S Bhat,XLRI 32
  33. 33. Just to Clarify• “Another limitation involves our sample, which includes only new ventures receiving venture financing from CVC and/or IVC investors. Given the capital-intensive nature of our sample industries, we suspect that most new ventures in these industries will raise venture capital financing of some sort”• “Another avenue for future research would be to link CVC investment relationships with corporate governance issues. ”• That’s why the previous slide1/24/2013 Akshay S Bhat,XLRI 33
  34. 34. Jan 2012 Paper 2The differing effects of agent and founder CEOs on the firms market expansionThesis that CEO influence evolves differently for founders and agentsTheorize that at the beginning of their tenures, founder CEOs can pursue market expansionmore aggressively than agent CEOs, because they take office with the combination ofmotivation, power, and requisite knowledge that agent CEOs build over timeSubsequently, however, founder CEOs have less access to the administrative infrastructurenecessary to sustain a growing firm, making them less able than agent CEOs to continuemarket expansion mid-tenure and more severely constrained by market complexityA longitudinal study of cable television operators confirms that the firms market expansionfollows an inverted U-shape for agents and a downward slope for founders, while marketcomplexity reduces market expansion, especially for founders1/24/2013 Akshay S Bhat,XLRI 34
  35. 35. Paper 2 Cntd. Jan 2012Research settinghypotheses examined in a longitudinal study of cable television operators in the United States between 1972and 1996.Two reasons. the primary alternatives available to cable operators in this time period were limited to organic growth, market expansion initiatives, vertical integration into cable programming, which only a handful of firms pursuedControl for organic growth opportunities and vertical integration, enabling a clear focus on marketexpansion.Second, there are similar numbers of agent CEOs and founder CEOs in the industry, enabling a robustcomparison of their tenures influence on the expansion of their firms.My observation : Every Paper had justified and defended as to why that particular sample was taken,sometimes mooting for the cause of publication.1/24/2013 Akshay S Bhat,XLRI 35
  36. 36. Paper 2 Cntd. Jan 2012• Richness of Data, Controlled1/24/2013 Akshay S Bhat,XLRI 36
  37. 37. Jan 2012 Article 2longitudinal dataset of both public and private cabletelevision operators allows us to observe how agencyalters the market expansion patterns of CEOsDemonstrate that the inverted U-shaped life cycleapplies only to agent CEOs and that the limits imposedby market complexity are most salient to founder CEOs1/24/2013 Akshay S Bhat,XLRI 37
  38. 38. Jan 2012 Article 2 Snapshot of the Article, SMJ 2012, Jan.1/24/2013 Akshay S Bhat,XLRI 38
  39. 39. June 2012 SE Sailing into the wind: Exploring the relationships among ambidexterity, vacillation, and organizational performance Evaluation Organizational Organizational structure as a determinant of performance: Evidence from mutual funds Structure Architecture, attention, and adaptation in the multibusiness firm: General electric from Organizational 1951 to 2001 PurposeJune The role of individuals in the information processing perspective Leadership SE Structural knowledge: how executive experience with structural composition affects Strategic Resource intrafirm mobility and unit reconfiguration Allocation Spillovers across organizational architectures: The role of prior resource allocation and Strategic Resource communication in post-acquisition coordination outcomes Allocation The architecture of collaboration Strategic Alliances A network perspective on organizational architecture: performance effects of the Organizational interplay of formal and informal organization Structure1/24/2013 Akshay S Bhat,XLRI 39
  40. 40. June 2012 SESailing into the wind: Exploring the relationships among ambidexterity, vacillation, and organizationalperformanceSustainable high performance requires the capacity to simultaneously explore and exploit, the managementliterature is divided on the most feasible and efficient route toward this end.Two proposed approaches for organizational ambidexterityachieving simultaneously high levelsof exploration and exploitation organizational vacillation.Map these approaches onto a common performance landscape, making precise the empirical question of whichdelivers superior long run performance.Analyze canonical cases from both literatures, examining patterns of decision making and correspondingperformance over time.These cases suggest that vacillation may offer higher long run performance than ambidexterity, whileambidexterity enhances performance on the margin when utilized within larger epochs of vacillationBut Both Complement each other1/24/2013 Akshay S Bhat,XLRI 40
  41. 41. Proposed Model – Cntd. • While our qualitative analysis of historically wide and deep canonical cases provides the benefits of richness critical to understanding the mechanisms that deliver ambidexterity, the method does not provide for conclusive statistical assessment of the competing mechanisms.1/24/2013 Akshay S Bhat,XLRI 41
  42. 42. Cntd. Exploration, Exploitation, Performance• “Given our assumptions, Figure 2 provides a three-dimensional representation of the relationships among the three variables that satisfies our assumptions. Specifically, exploration and exploitation are located along the x- and y-axes, respectively, and performance, as expected economic profitability (a function of such exploration and exploitation combinations), is positioned vertically on the z-axis.”1/24/2013 Akshay S Bhat,XLRI 42
  43. 43. • Again Special Edition while focusing on the non Quant Areas/Basically a bit away from panel data had an Element of Quantitative Methods which is so important to SMJ1/24/2013 Akshay S Bhat,XLRI 43
  44. 44. June 2012 SE 2nd Paper• I chose this paper : “Spillovers across organizational architectures: The role of prior resource allocation and communication in post- acquisition coordination outcomes” as it explicitly chose Prior Resource Allocation as it was one of the most important themes• Discussed Overlap as an important theme – post-acquisition performance – experiments – organizational architecture and design – behavioral uncertainty and coordination1/24/2013 Akshay S Bhat,XLRI 44
  45. 45. What this paper tells us• Integrate insights from – organization design, – economic game theory – social psychology• to examine the role of prior resource allocation and communication in alleviating behavioral uncertainty arising in inter unit coordination settings• Context of post-acquisition coordination, focusing on the extent to which routines created under one organizational architecture (i.e., interorganizational alliances) may transfer to another organizational architecture (i.e., internal divisional structures via acquisition of alliance partners).• Using a randomized experimental design find that “prior resource allocation decisions in the absence of prior communication lowers post-acquisition performance due to the development and transference of pre-acquisition stage routines that may be inappropriate post-acquisition”• Post-acquisition performance is aided, however, by the formation of noncompetitive routines in the pre-acquisition stage in the presence of communication.1/24/2013 Akshay S Bhat,XLRI 45
  46. 46. June 2012 SE 2nd Paper At the core, organization Theory worked design grapples upon is:- with two complementary problems (2) how to (1) how to best reconnect these partition tasks organizational across elements to best organizational realize the players; and organizations strategic goals1/24/2013 Akshay S Bhat,XLRI 46
  47. 47. June 2012 SE 2nd Paper• Explanation with a hypothetical example to elucidate new concepts (New for SMJ, which Caters to an erudite audience)1/24/2013 Akshay S Bhat,XLRI 47
  48. 48. August 2012While product market choices have been central to strategy formulation for firms in the past, the integration of financialmarkets makes the choice of capital markets an equally important strategic decision.Advance a find that internal governance characteristics (founder-CEO, executive incentives, and boardcomparative independence) andinstitutionalperspective to explain external network characteristics (prestigious underwriters, degree of venture capitalistcapital market choice syndication, and board interlocks)by firms making an IPOin a foreign market. significant predictors of foreign capital market choice by foreign IPO firms.This papers results suggest foreign IPO firms select a host market where the firms governancecharacteristics and third party affiliations fit the host markets institutional environment1/24/2013 Akshay S Bhat,XLRI 48
  49. 49. August 2012But to study this they took US and UK firmsUnited States Formal Regulation Market Transactions Interests of shareholders vis a vis managers Incentive AlignmentUK Social Networks Actors play a central role MonitoringAn understanding of these fundamental institutional differences helps to provide general perceptions ofwhat constitutes ‘good governance,’ identify powerful stakeholders in these two markets, and explain theexchange listing decisions of foreign IPOs.This institutional argument suggests that firm-level characteristics interact with institutional environments tojointly affect the strategic choices of firm1/24/2013 Akshay S Bhat,XLRI 49
  50. 50. August 2012A firms initial choice of capital market in which to make its first public equity offer is an importantdomain choice that may impact its growth and development in the long run.This paper offers theoretical and empirical insights into how firms make their IPO market decision when theyconsider a listing outside their home markets.By combining IPO the authors offer a richer theoretical frameworkresearch withinstitutional suggests that economic rationale behind these choices should be analyzed within a more contextualized approachperspective Focus on issues related to institutional fit.A more contextualized approach offers a number of further research avenues that may lead to a more holisticview of the complex interrelationship between governance and key strategic decisions.1/24/2013 Akshay S Bhat,XLRI 50
  51. 51. I thought This was a new perspective Can I co-relate this with Strategic Alliances Trust, Faith, Brand Reputation, Legacy of a Corporate Firm in addition to what they have already touched upon “Corporate Governance” Again Quantitative, tells you What is connected but not the How part, a Qualitative survey would have captured it If they started with a few Heuristics did not maintain that tempo  midway a quantitative study But a new insightful paper1/24/2013 Akshay S Bhat,XLRI 51
  52. 52. 20111/24/2013 Akshay S Bhat,XLRI 52
  53. 53. Just to Recapitulate, Leaders hip is new.. Strategic Resource Allocation 12 18.46 Organizational Structure 3 4.62 Leadership 9 13.85 Entrepreneurship 0 0.00 Organizational Purpose 4 6.15 Evaluation 9 13.85 Planning Processes 2 3.08 Strategic Decision Making 10 15.38 Strategic Alliances 14 21.54 Conceptual 2 3.08 65 Or rather … Leadership has lost focus in SMJ..1/24/2013 Akshay S Bhat,XLRI 53
  54. 54. Jan 2011 joint ventures; value creation; transaction cost economics; resource-based view; event studiesAre joint ventures positive sum games? The relative effects of cooperative and noncooperative behaviorExamining the interrelationship between the values created for two partners when they announce a JV.If cooperative behavior and common benefits are more influential than noncooperative behavior and privatebenefits, there will be a positive association between the values created for the two partners.Conversely, if private benefits and no cooperative behavior are more influential, there will be a negativeassociation as partners derive value at the expense of each other rather than by creating new opportunitiesthrough the JV.Using a sample of 344 evidence of a positive association between the values created for the two partners aftercontrolling for various factors.This suggests that the stock market perceives JVs to be positive sum games rather than zero sum games, andthat value creation in JVs is mainly attributable to synergies rather than appropriation of resources.This paper then also reveals other conditions under which cooperative behavior and noncooperative behaviorbecome dominant, such as the strength of the resources of the two partners, product market competition, andJV experience1/24/2013 Akshay S Bhat,XLRI 54
  55. 55. Feb 2011TESTING MANAGEMENT THEORIES: CRITICAL REALIST PHILOSOPHY AND RESEARCHMETHODSThis study the importance of falsification and verification efforts for progress in theoryidentifies the development.practical andphilosophical advocate a four-step approach for advancing theory testing that prioritizesdifficulties identifying and testingassociated withtesting strategic for the presence and effects of hypothesized causal mechanisms, rather thanmanagement solely focusing onand organizationtheories. correlational methods to jointly test the set of effects composing aWorking from a theoretical system.critical realistperspective:- Going beyond prior critical realist writings, by providing practical guidance for deploying established research methods to test management theories.1/24/2013 Akshay S Bhat,XLRI 55
  56. 56. Feb 2011“Some challenges to testing management theories are inherent to thecomplex, open, and changing nature of organizations and their contexts”(Verbatim extraction)Most empirical studies in strategic management use correlationalmethods that do not directly test the explanatory mechanisms proposedby our theories empirical research grows in the management field andmethods proliferate we need to recheck our methodsMacro-organizational phenomena are often not amenable to laboratory research, although it maybe possible to extrapolate, mutatis mutandis, from laboratory research on individuals and groupsto the organization level.Efforts to isolate Has artificialitysocial phenomena Alteration of behavorial responsesin laboratory All nitty gritties cannot be incorporated Initial conditions are difficult to get1/24/2013 Akshay S Bhat,XLRI 56
  57. 57. Suggested..1/24/2013 Akshay S Bhat,XLRI 57
  58. 58. April 2011Are family-friendly workplace practices a valuable firm resource?Work-life balance; family-friendly work practices; nonmarket strategies; firmperformance; management practices; resource-based viewDeterminants and consequences of family-friendly workplace practices (FFWP) using asample of over 450 manufacturing firms in Germany, France, U.K., and U.S.Positive correlation between firm productivity and FFWP.This association disappears, however, once control for a measure of the quality ofmanagement practices.Further firms with a higher proportion of female managers and more skilledworkers, as well as well-managed firms, tend to implement more FFWP.Conversely, a firms environment does not have a significant impact on the FFWP itprovides.1/24/2013 Akshay S Bhat,XLRI 58
  59. 59. Few Qualitative studies in SMJ, but was backed by Quantitative dataInterviews took about 50 minutes on average and were run from a single U.K. site. a high response rate of 54 percent, which was achievedthrough four steps:First, the interview was introduced as ‘a piece of work” without discussion of the firms financial position or company accounts, making itrelatively uncontroversial for managers to participate. Interviewers did not discuss financials in the interviews, both to maximize managersparticipation and to ensure our interviewers were truly blind on the firms financial position.Second, questions were ordered to begin with the least controversial (shop floor management) and finish with the most controversial(pay, promotions, and firings). The FFWP questions were placed at the end of the interview to ensure as much candor as possible in managersresponses.Third, the performance of the interviewers was monitored as was the proportion of interviews achieved, so interviewers were persistent inchasing firmsThe questions are also about practices within the firm that any plant manager can respond to, so there were potentially several managers perfirm who could be contacted.Fourth, written endorsements of the ‘Bundesbank’ (in Germany), the ‘Banque de France,’ and the ‘Treasury’ (in the United Kingdom) helpeddemonstrate to managers that this was an important exercise with official support.1/24/2013 Akshay S Bhat,XLRI 59
  60. 60. Strategic Conceptual 4% Papers 2010 Resource Allocation Strategic 8% Organizational Alliances Structure 19% 7% Leadership 11% Strategic Decision Making 22% Evaluation 22% Planning Organizational Processes Purpose Entrepreneurship 0% 0% 7% 20101/24/2013 Akshay S Bhat,XLRI 60
  61. 61. Will cover just one, the one on EntrepreneurshipThis paper investigates the effect of compensation of corporate personnel on their investment in newtechnologies.Focus on a specific corporate activity, namely corporate venture capital(CVC), describing minority equityinvestment by established-firms in entrepreneurial ventures.The setting offers an opportunity to compare corporate investors to investment experts, the independentventure capitalists (IVCs). On average, there is an observation of a performance gap between corporate investorsand their independent counterparts.Interestingly, the performance gap is sensitive to CVCs’ compensation scheme: it is the largest when CVCpersonnel are awarded performance payStudy the association between incentives and performance but also document a direct relationship betweenincentives and the actions managers undertake.Find a parallel pattern when analyzing the relationship between compensation and another investmentpractice, staging of investment.To conclude, the paper investigates the three elements of the principal-agent framework, thus providing directevidence that compensation schemes (incentives) shape investment practices (managerial action), andultimately investors’ outcome (performance)1/24/2013 Akshay S Bhat,XLRI 61
  62. 62. Geographic Diversity – Extracted from an old SMJ Paper• Membership of the Strategic Management Society and Academy of Management has become increasingly global over the past 20 years• Interestingly, the proportion of North American authors in SMJ has remained fairly constant (around 80% of all authors) over the survey period.• This is not to imply that a lack of trend in the aggregate does not hide some interesting developments at the regional level.• For instance, U.K. authors comprised 16 percent of the authorship in the first 10 years but only 6 percent in the last 10 years. Similarly, Europe and the rest of the world averaged around 20 percent of all authorships in the last 3 years of the sample (1997– 99), up from 9 percent between 1990 and 1996.1/24/2013 Akshay S Bhat,XLRI 62
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  65. 65. Afterthought• A typical article in 1980 was a 15-page single-authored theory piece using 20 references that probably took less than a year to appear in print after submission.• A typical article in 1999 was a multi-authored empirical piece using hundreds of cases, 70 or more references, and running to more than 20 pages in length. The authors could expect to wait over 2 years for their submission to appear in print.• SMJ has expanded the number of issues from four per volume in 1980 to 12 per volume in 1999 and 13 per volume in 2002.• But Lags : A combination of factors may play a role. It may be that longer, more complex articles are taking longer to review and revise. It is also possible that the editorial board may not have expanded to match the increase in submissions,2 or that editorial standards have risen over time so that more revisions are now being required1/24/2013 Akshay S Bhat,XLRI 65
  66. 66. • ‘more empirical research is needed in the field. We do not want for theories, but we do want for theories that have been adequately tested against empirical data. . .future research should, wherever possible, be normative in character. . . future research should be more rigorous.’• the relative infrequency of non empirical papers in recent years suggests that it has become harder to make a competitive contribution1/24/2013 Akshay S Bhat,XLRI 66
  67. 67. Thank You1/24/2013 Akshay S Bhat,XLRI 67

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