Start-ups,entrepreneurial networks and equity crowdfunding: A processual perspective

This paper outlines findings from a large-scale interview based study of start-ups who obtained equity crowdfunding in the UK. It takes a novel integrative approach towards the analysis of entrepreneurial networks by examining both personal and business networks involved in the equity crowdfunding process. Adopting a processual perspective, the empirical findings show that networks and social capital play a critical role in the crowdfunding process. Start-ups leverage, build and draw upon a complex array of network actors and “ties” as they move through the different stages of their crowdfunding journey. The paper shows that this form of funding confers important relational benefits to recipients which amount to “more than money”. It concludes that equity crowdfunding is a highly “relational” form of entrepreneurial finance, requiring holistic forms of empirical investigation. Implications for theoretical development, managerial practice and further research are outlined.     

Sense-making and management in business networks — some observations, considerations, and a research agenda

Business networks are complex webs of interdependent exchange relationships within which companies and individual managers operate. They consist of manifold actors, complex interactions, as well as organizational structures and resource transformation processes. Business managers cannot just capitulate vis-à-vis this complexity. Making sense of complex business networks helps managers to understand their own position, as well as their available options for change. Similarly, research in the area of sense-making and management in business networks may help us understand how managers cope with the contextual complexity in business networks, and how managers construct the forms in which this complexity appears. This paper identifies six major research themes that need to be taken up in the future with regard to sense-making and management in business networks, and discusses some methodological issues to advance our knowledge in this area.     

Networking under uncertainty: Concepts and research agenda

This paper has two aims: Firstly, to develop the interpretation of business management as a process of ‘networking’ between companies by relating networking to the concepts of managerial uncertainties and abilities. Secondly, to suggest some areas of potential research that arise from the view of management as networking under uncertainty.The paper builds on the Activities, Actors, Resources (ARA) structure (Håkansson & Snehota 1995) and the Model of Managing in Business Networks (Håkansson et al., 2009) and interprets business interaction as a problem-coping process that involves a set of choices for interacting actors within particular business relationships that are unique in time and space. The paper then relates these choices to the uncertainties and abilities of interacting counterparts.     

Inter-organizational collaborations for social innovation and social value creation: Towards the development of new research agenda and theoretical perspectives

The intensifying poverty and poorer living conditions, the need for greater social welfare along with ongoing damages to the natural environment in several contexts of the world have proved the increasing importance of social innovation for creating positive social and environmental change. This special issue addresses to the limitations in social innovation literature by providing insights into the role of inter-organizational collaborations in the process, practice and outcome of social innovation. Thus, the papers published in this special issue advance current knowledge and scholarship on different aspects of the social innovation phenomena occurring in inter-organizational contexts. The current paper reviews existing perspectives and studies on social innovation undertaken inter-organizational contexts, develops the future agenda for improving scholarship on social innovation occurring through inter-organizational collaborations, and provides the development of new theoretical ideas by focusing on some key studies in the literature and papers published in this special issue. With a focus on subsistence contexts that are characterized by limiting institutional environments, this paper identifies the types of partnerships that are being formed by social enterprises and individual social entrepreneurs, and how they may facilitate and foster social innovation practice and performance through social value creation.     

Gender and teleworking identities in the risk society: a research agenda

This paper discusses the potential implications of a risk society on identities due to alterations in work practices. The promise of 'flexibility' via at-home telework entails a renegotiation of the home–work boundary. This brings into play the gendered identities and roles attached to these different spheres of life. After deconstructing promises made on behalf of telework, we construct an alternative research agenda engaging with writings on changing work identities in the risk society where traditional sureties are called into question.     

Competition between exchanges: A research agenda

This paper describes open research questions related to the competition and market structure of financial exchanges and argues that only a combination of industrial organization and finance can satisfactorily attack these questions. Two examples are discussed to illustrate how the combination of these two approaches can significantly enrich the analysis: the “network externality puzzle”, which refers to the question of why trading for the same security is often split across trading venues, and the impact of the multi-sided character of financial exchanges on pricing and profitability.     

Toward a theory of competitive market signaling: A research agenda

Competitive market signals are conceptualized as announcements or previews of potential actions intended to convey or to gain information from competitors. This paper develops a set of propositions based on research in economics, social psychology, and marketing on the risk/reward trade-off in signaling, the receiver's signal interpretation, and the receiver's reaction alternatives. The overall objective is to develop a research agenda toward a theory of competitive market signaling.     

Media ownership and communications: Enriching the research agenda

This paper examines whether diverse opinions make their way into the communication policy decisions. Specifically, it examines whether academics from distinct disciplines engage one another and whether Federal Communications Commission (FCC) experts rely on a multidisciplinary body of research in making telecommunications-related decisions. After tracing how narrow expertise can lead to shallow policy perspectives, the paper employs a social network analysis of citations to assess the breadth of the media ownership debate. The case of media ownership was considered a worthy choice for analysis because it was so high on the policy agenda. The paper found that the media ownership policy network is extremely hierarchical; it comprises relatively few connected members around which clusters form and the majority of communication takes place. Lacking overlap among subgroups, there is very little interaction across disciplinary boundaries. An analysis of FCC citations demonstrates the impact that the dominant journals have on the FCC decision-making process, with significant implications for FCC decision making in all aspects of telecommunications.     

Three decades of research on corporate governance and R&D investments: a systematic review and research agenda

This paper reviews and systematizes the empirical research on the nexus between corporate governance (CG) and investments in research and development (R&D) published in leading business, management, economics and finance journals over the past 30 years. We find that CG is key in shaping R&D investments. Moreover, the effects of both firm- and country-level CG are important for both internal and external R&D investments. Drawing on our review, we welcome future studies to examine the effect of the interplay between various CG mechanisms and different types of R&D investments, and possibly identify mediating variables besides the moderating ones. Moreover, we highlight the need for future interdisciplinary studies, as well as investigations of private companies and across developing countries. Whenever causal interpretations are attempted, both sample selection and endogeneity problems should be addressed, along with testing the CG-R&D investment nexus for nonlinear dynamics. The implications of the study for both theory and practice are also discussed.     

Strategy research: governance and competence perspectives

Business strategy is a complex subject and is usefully examined from several perspectives. This paper applies the lenses of governance and competence to the study of strategy. Both the governance and the competence perspectives have had the benefit of distinguished antecedents. They have also had to deal with tautological reputations. I begin with the governance perspective, with emphasis on the six key moves through which it has been operationalized. I then examine the competence perspective in these same six respects. Governance challenges the competence perspective to apply itself more assiduously to operationalization, including the need to choose and give definition to one or more units of analysis (of which the ‘routine’ is a promising candidate). The research challenges posed by competence to which governance can and should respond include dynamic transaction costs, learning, and the need to push beyond generic governance to address strategy issues faced by particular firms (with their distinctive strengths and disabilities). A lively research future for these two perspectives, individually and in combination, is projected. Copyright © 1999 John Wiley & Sons, Ltd.     

CEO duality,succession-planning and agency theory: research agenda

In response to Harris and Helfat's commentary on our article, ‘One hat too many: Key executive plurality and shareholder wealth,’ we suggest that their arguments are quite plausible, but we believe further empirical tests are needed. These proposed tests are described in our response. © 1998 John Wiley & Sons, Ltd.     

Regulation and transaction costs in telecommunications: A research agenda

Antitrust and regulatory policies influence the vertical and horizontal integration of firms and the characteristics of their contractual arrangements. This paper examines the relevance of transaction cost economics for the analysis of regulatory policy in telecommunications. It explores the impact of changes in national telecommunications regulation on the level of transaction costs. After building a new theoretical framework based upon previous transaction cost contributions, the paper sets out a research agenda concerning the importance of transaction costs for antitrust and regulatory policies.     

Key trends in business-to-business services marketing strategies: Developing a practice-based research agenda

The marketing of B2B services has become an important field of academic enquiry. Industrial Marketing Management scholars have contributed to building a robust body of scholarship on the role of services as an indispensable aspect of company’s strategic performance process. However, with digitization, there is a clear need for theoretical concepts and frameworks that can guide companies in the development of contemporary and strategic roadmaps for their B2B service marketing strategies and performance practice. This position paper outlines an agenda and delineates issues in B2B service delivery that need to be addressed to close the gap between service marketing theory and practice and collaborate on the development of strategic service capabilities for the industrial marketing space. More specifically, we identify and discuss the impact of 5 important trends shaping B2B services: 1) gamification, 2) personalization, 3) Mixed Reality (MR), 4) data visualization, and 5) privacy. On the basis of these, we will offer a number of specific directions for future research by industrial marketing researchers.     

A NICE agenda for IMP research

The IMP (Industrial Marketing and Purchasing) Group has engaged in a number of interesting developments in the past few years. Particularly adventurous have been the agendas of ‘pictures’ and sense-making and of time. In this paper we argue that borrowing and combining contemporary foci within social science on narratives, identity, culture and epoché temporality (for which we use the acronym N.I.C.E) allows the construction of an approach that can integrate these IMP agendas into a new research direction for the group that will keep it at the leading edge of marketing research. The purpose of our paper is to introduce and integrate discursive and temporal elements into the understanding and research of business networks to develop a more dynamic and hermeneutic approach. Our purpose is to provide a contribution to the field in exploring how identities are formed within business networks through narrative episodes in interconnecting relationships over time. We bring together all of the elements of a NICE agenda in an attempt to provide an integrative, ‘multi-lens’ theory of business networks focussed within the IMP research tradition. In doing so, we construct meaning as itself networked; sense-making involves relating presently narrated episodes to symbolic and material aspects of other narrative network episodes and events through emplotment and storying.     

Corporate governance and national institutions: A review and emerging research agenda

We present a critique of corporate governance research grounded in agency theory and propose that cross-national comparison of corporate governance should consider how the nature and extent of agency relationships differ across different institutional contexts. Building on prior governance studies grounded in sociology and organizational theory we argue that performance outcomes of boards of directors, ownership concentration, and executive incentives may differ depending on the legal system and institutional characteristics in a specific country. Institutions may also affect the extent of complimentarity/substitution among different firm-level governance practices producing patterned variations in firm-level governance mechanisms. Our discussion suggests that researchers need to develop more holistic, institutionally embedded governance framework to analyze organizational outcomes of various governance practices.     

Membership and management of a 'virtual' team: the perspectives of a research manager

Many sectors of human activity are growing increasingly dependent on information and its contextual processing in the creation of knowledge. Nowhere is this process more crucial than in distributed R&D communities. This paper draws on experience of working in such communities and on investigations into the role of information and communications technologies. This work may have begun to uncover a framework on which to base the effective application of IT in this context.
A recent research study, supported by the EC Human Capital and Mobility Programme, was undertaken by a team which was itself distributed and comprised those with background disciplines in management science, developmental psychology and information technology. It focused on the communications channels (the media) used by international R&D communities and an analysis of the case study data revealed three significant dimensions:
• individuals and their engagement in the community;
• the nature and stages of R&D tasks;
• management and organization of distributed teams.
This paper focuses on the last of these themes whilst drawing upon the others. It reviews the dynamics of R&D tasks and the way that this requires changing organizational styles which establish, support and maintain each individual's contribution to the collective goal as the task passes through the phases of intention, procedure and operation. It begins to address the issue concerned with capitalizing on diversity rather than the more usual approach of always seeking a unifying consensus.     

Sustainability research in business-to-business markets: An agenda for inquiry

Corporate interest in the topic of sustainability has increased in prominence. Most of the research on sustainability has a business-to-consumer focus, with limited research emphasizing sustainability in the context of business-to-business marketing. The paper examines research on sustainability, published in the journal Industrial Marketing Management, where thirty-eight articles have appeared in the past twenty-seven years, the majority on supply-chain research. Research on sustainability in business-to-business markets is sparse, and some of the fundamental research questions in this area have gone unaddressed. This paper addresses three interrelated research issues associated with sustainability in business-to-business markets. First, what research is available to researchers and practitioners? Second, what framework can be used to examine sustainability research in business-to-business markets? Third, what subareas of sustainability research need focus and deeper examination, and what are the associated research questions? Overall, the findings from this paper suggest the need for additional research in the area because of its substantial implications for theory, research, and practice.     

Sales technology within the salesperson's relationships: A research agenda

The average cost of a sales call has declined approximately 15% over the past decade, while average salesperson compensation has doubled. These statistics illustrate an important benefit of technology: salespeople are more productive. To better understand the impact technology has played on sales and sales management, this paper examines the impact of sales technology from four perspectives: the salesperson, the field sales manager, the sales executive, and the customer. Noting that the needs and evaluations of technology vary, depending upon the functional position and viewpoint, a research agenda is offered that reflects these various perspectives.     

Reviewing the intellectual structure of product modularization: Toward a common view and future research agenda

Product modularization in new product development has attracted considerable interest among scholars and practitioners from diverse fields of specialization. This has resulted in cross-disciplinary diversity in the field, diverting attention from its overall intellectual structure and hindering the development of a common view and shared concepts. Extant research lacks an integrative review, transcending a focal discipline that could identify gaps and ambiguities while making recommendations to advance the field. Considering a period of 30 years (1990–2020), we generate a data set of 2988 citing publications to which we apply a co-citation analysis. Thereby, we uncover the intellectual structure of the field and find three research perspectives that represent key knowledge bases: (1) product system, (2) production system, and (3) organizational system. Delimiting the data set into four periods, we can track developments over time, where we notice an increasing disintegration of the product system perspective, which is rooted in the discipline of engineering design. Within the two other perspectives, we document extensive dynamism in terms of publications, especially in the two most recent periods, indicating an active discussion and a potential receptivity to new trends. For these periods, we also identify an emerging cluster of fundamental publications and an increasing emphasis on the concept of system architecture. Leveraging the synthesis of these results, we forge links between neighboring disciplines and recommend avenues for further research, ideally to develop a more common view.