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Academic Journal
Strategy & Entrepreneurship

“Autonomous Teams and New Product Development”

With its high degree of autonomy, dedication, and co-location, an autonomous team as an emerging tool for new product development (NPD) has more freedom and stronger capabilities to be innovative and entrepreneurial. However, such teams are not a panacea, and implementing them can be costly and disruptive to their parent organization. Hence, in this study we ask under which circumstances an autonomous team is the best choice for NPD. Drawing on both contingency and information-processing theories, we hypothesized that autonomous teams are more effective in developing novelty technology or radical innovation. We tested and confirmed the hypotheses using data from 555 NPD projects by comparing the relative effectiveness of autonomous teams with functional, lightweight, and heavyweight teams in terms of development cost, development speed, and overall product success. The results also suggest that heavyweight teams perform better than other teams in developing incremental innovation. The findings of this study may not only have some important implications for NPD practices but also shed some light on other important topics such as disruptive innovation, new venture, corporate entrepreneurship, and ambidextrous organization.
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734-750 pages 2012 Peerasit Patanakul Jiyao Chen Gary Lynn View on: Google Scholar

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Strategy & Entrepreneurship

“Bacon-Gerasymenko, V. (2024). Investment Horizons in Venture Capital. In: Cumming, D., Hammer, B. (eds) The Palgrave Encyclopedia of Private Equity. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-38738-9_188-1”

Venture capital (VC) funds are long-term investment vehicles with an investment lifetime of 10 years fixed ex ante. We can look at and understand investment horizons in several ways: (1) from a deterministic perspective, the VC fund investment horizon is often defined as the time until the fund’s liquidation after the end of 10 years. (2) From an agentic perspective, within a fund lifetime, VCs may decide upon an investment horizon that is the ex ante expectation of VC general partners (GPs) about the duration of time over which potential investments will generate returns. Because experienced VCs manage several funds concurrently, the time until the liquidation of these funds can also serve as a proxy for investor horizon. Because VCs realize returns upon exit via an initial public offering (IPO), a trade sale, or a liquidation, scholars and practitioners also refer to investment horizon as time-to-exit.
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2024 Palgrave Macmillan Violetta Gerasymenko

Academic Journal
Strategy & Entrepreneurship

“Celebrity CEO, Identity Threat, and Impression Management: Impact of Celebrity Status on Corporate Social Responsibility”

In this study, we examine the impact of CEO celebrity status on the propensity of firms to
engage in corporate social responsibility (CSR). Integrating identity and impression management
theories, we argue that a firm’s engagement in CSR activities is affected by a celebrity CEO’s
impression management motive to maintain his/her identity and status as a celebrity. We then
explore three boundary conditions under which the effects of celebrity status on CSR may be
strengthened. We find that celebrity CEOs’ engagement in CSR activities as an impression
management tactic increases when uncertainty surrounding a firm’s expected performance is
high, when firm performance is low, and the competitive intensity of the industry is high. The
findings of this study provide useful insights into the specific ways by which celebrity CEOs
attempt to protect their established status and reputation. This paper contributes to various
domains of research concerning CEOs, impression management, and CSR.
Details

69-84 pages 2020 Gilsoo Lee Sam Yul Cho Jonathan Arthurs Eun Kyung Lee View on: Google Scholar

Academic Journal
Strategy & Entrepreneurship

“CEO Pay Inequity, CEO-TMT Pay Gap, and Acquisition Premiums”

This study extends previous research on the influence of CEO pay inequity on CEOs' decision-making by examining the relationship in the acquisition context. Focusing on CEOs' compensation vis-à-vis external and internal referents, we find that underpaid CEOs pay higher acquisition premiums and that overpaid CEOs pay lower premiums, although this tendency is reduced as the level of overpayment increases, creating a U-shaped relationship. We further find that the CEO-TMT pay gap moderates the relationship between CEO under-/overpayment and acquisition premiums by adjusting CEOs' perceptions of pay inequity and motivation to restore inequity through their higher or lower sense of self-importance. The findings of this study suggest that CEOs' decision-making is strongly influenced by their framing of gains and losses and the perception of pay inequity
vis-à-vis external and internal referents.
Details

105-116 pages 2019 elsevier Gilsoo Lee Sam Yul Cho Jonathan Arthurs Eun Kyung Lee View on: Google Scholar

Academic Journal
Strategy & Entrepreneurship

“Changing the Business Model: Effects of Venture Capital Firms and Outside CEOs on Portfolio Company Performance”

This study extends extant research on business model change by examining the impact of venture capital firms (VCFs) on the performance of young ventures that have substantially changed their business model. The analysis, using a unique dataset of 163 venture capital-backed portfolio companies (PFCs), reveals a positive relationship between the scope of VCF involvement and PFC performance. Furthermore, the VCFs’ experience with business model change and the recruitment of an outside CEO to the PFC both increase the positive impact of VCF involvement. These findings have implications for theory and practice.
Details

pages 79-98 pages 2015 Strategic Entrepreneurship Journal Violetta Gerasymenko Dirk Clercq Harry Sapienza View on: Google Scholar