When do domestic alliances help ventures abroad? Direct and moderating effects from a learning perspective

While the importance of strategic alliances for new venture internationalization is well acknowledged, the effect of domestic partners remains less understood. Building on organizational learning theory's vicarious learning arguments, we suggest that internationally experienced domestic partners positively influence new ventures' international intensity. Moreover, acknowledging that ventures may have multiple learning sources, we argue that the effect is more pronounced when substituting for the lack of new ventures' top management teams' international experience, or when complementing the insights about foreign markets received from foreign alliance partners. The analysis of 194 publicly held new ventures largely supports our hypotheses.     

Smart,connected products change a company’s business strategy orientation

Smart, connected products have the potential to shift rivalries, opening up numerous new avenues for differentiation and value-added services. New entrants in a smart, connected world face significant new obstacles, starting with the high fixed costs of a more complex product design, embedded technology and multiple layers of new IT infrastructure. As smart, connected products expand an industry’s scope and the boundaries of competition, many companies will need to rethink their corporate purpose. As products continue to communicate and collaborate in networks, which are continuously expanding both in number and diversity, many companies will have to re-examine their core mission and value proposition. The authors present an analysis of changes that were initiated by applying new of smart and connected product technologies during creative discussions about disruptive innovation development. The objective of the article is to seek answers to the following research questions: Q 1: What is the role and significance of the new concept of products obtained as a result of substantial innovations? Q 2: How does the new concept of products impact the entrepreneurial strategy of organizations? Q 3: Does this concept trigger a change to the rules of competition?     

Social and family load of Alzheimer’s disease

As the World Health Organization reports, mental illnesses have a serious impact on more than 25% of all population people worldwide at some time during their lives. Mental illnesses are universal; they affect people of any age, both women and men, the rich and the poor, no matter from which urban and rural environment they come from. Mental illnesses have an enormous economic effect on societies and on the quality of people’s life, including their families. The purpose of this study is to describe social and economic aspects of Alzheimer’s disease (AD) with respect to the early diagnosis. The authors provide an analysis of costs of treatment and care in the selected countries where the data from the available studies are recalculated into comparable quantities. Furthermore, the authors analyse aspects and possibilities of care for patients with AD in the informal (home) environment in compliance with individual phases of this disease. In the article, the method of research of available sources focusing on social and economic issues of AD is used. In order to compare costs of treatment and care of the AD patients, the Qualitative Comparative Analysis Method is exploited. The analyses have shown that the metric systems for monitoring the direct and indirect costs for the individual phases of AD are different.     

Science,business, and innovation: understanding networks in technology‐based incubators

This study investigates the formation of networks in a major Canadian technology‐based incubator. Technology‐based incubators have spread around the world as a tool to accelerate the growth and survival of high‐tech companies. One of the central features of incubators is the provision of networking opportunities for tenants to establish collaborative relationships with other organizations. Using a qualitative methodology, this study seeks to better conceptualize the interplay between the networking strategies of high‐tech firms and the environment of incubators. This study reveals that far from an undifferentiated phenomenon, different kinds of networks are created in a high‐tech incubator environment. Factors that enable and constrain such networks are identified. This study points to the variegated nature of networks, suggesting that greater attention is needed to the conceptualization of inter‐organizational interactions in technology‐based incubators.     

The interplay of need and opportunity in venture capital investment syndication

This study examines the syndication of investments novel to a VC firm as a function of the firm's need and opportunity to do so. We distinguish two types of uncertainty that firms face when considering novel investments: egocentric, pertaining to making the right decisions, and altercentric, pertaining to being evaluated as a potential partner on the investment. Whereas the former increases the firm's need to syndicate the investment, the latter reduces the firm's opportunity to do so, making it contingent upon the firm's status and reputation for attracting potential partners. Using data on first-round venture capital investments, we find that novel investments are more likely to be syndicated. Moreover, this relationship is stronger for firms with higher status and weaker for firms with higher reputation. These results highlight a relational aspect of uncertainty, inherent in a particular VC firm — investment dyad, and suggest that status and reputation play different roles in aligning the need and opportunity to syndicate novel investments.     

Corruption as an Occupational Choice: Endogenous Corruption and Tax Policy

Corruption is endemic in many countries, and empirical studies have demonstrated how it impacts on macroeconomic indicators. Theoretical studies have generally assumed an exogenously given proportion of the population are corrupt or that the public sector is fixed in size; far fewer explore how corruption emerges endogenously. We endogenize corruption as an occupational choice. Workers choose private or public employment; public employees can be honest or corrupt. Corruption is subject to a social sanction that results in a loss of self-esteem. Those who care little about the social sanction choose to be corrupt. When a firm meets a corrupt public employee it pays a bribe to secure a reduction in the tax rate. The economy has two self-sustaining equilibria with different levels of corruption. Corruption reduces tax revenue and the tax rate that maximizes revenue. An increase in the social sanction reduces corruption but also reduces tax revenues if the economy is in a high-corruption equilibrium. Paying a wage premium to public sector workers can result in all public sector workers being corrupt. Public sector audits to detect corrupt workers always reduce corruption but can only increase welfare when they are cheap to conduct and the economy is in a low-corruption equilibrium.     

HOW SENSITIVE ARE RETIREMENT DECISIONS TO FINANCIAL INCENTIVES? A STATED PREFERENCE ANALYSIS

We study the effects of financial incentives on retirement decisions using stated preference data. Dutch survey respondents were given hypothetical retirement scenarios describing age(s) of (partial and full) retirement and replacement rate(s). A stylized model is estimated in which utility is the discounted sum of within‐period utilities that depend on employment status and income. Parameters of the utility function vary with observed and unobserved characteristics. Simulations show that the income and substitution effects of pensions as a function of the retirement age are substantial and larger than according to studies using data on actual retirement decisions in the Netherlands. Copyright © 2013 John Wiley & Sons, Ltd.     

Service quality and tipping: The moderating role of the quality of food

A substantial body of empirical research has analyzed the disparity between tip size and service evaluation but there has been surprisingly little emphasis on food quality. Since customers rate food quality relatively high along with service and atmosphere, the present study examined food quality as a moderator in the service–tipping relationship.     

Bronchodilator reliever use and its association with the economic and humanistic burden of COPD: a propensity-matched study

Background and aims: Short-acting bronchodilators are normally used as supplemental relief medication for breakthrough symptoms in COPD patients. The objective of this cross-sectional study was to assess if more frequent vs infrequent use of relief medication in maintenance-treated COPD patients, split by the severity dyspnea, was associated with an increase in the overall disease burden.

Methods: A population-based cross-sectional survey (Adelphi DSP) was conducted among patients with COPD in five European countries. Information was collected on demographic and clinical characteristics, reliever inhaler use, dyspnea (mMRC), health status (CAT, EQ-5D), sleep quality (JSEQ) and healthcare resource use including moderate–severe COPD exacerbations, physician visits, COPD medications and other COPD related resources. The humanistic and economic burden was compared between patients with infrequent reliever use (<1 occasion/week) and more frequent use (≥ 1 occasion/week). The association between increased reliever use and economic burden was also examined after matching patients based on propensity-scores balancing demographic and disease burden characteristics.

Results: Among the 1373 COPD patients prescribed a reliever inhaler, 29% reported using reliever medication ≥1 occasion/week. In the unmatched cohort, more frequent reliever use (n?=?377) compared to infrequent use (n?=?996) was linked to poorer health status (CAT: 25.7 vs 20.0; p?p?p?p?p?=?.0001). In the propensity-score matched population, more frequent reliever use was also associated with significantly higher annual costs for COPD management (€5,034 vs €3,705, p?=?.0327) compared to patients with infrequent reliever use.

Conclusion: In moderate-to-severe COPD, more frequent reliever use is associated with increased exacerbation risk and increased management costs.