Shadow Financial Regulatory Committee statements

Shadow Financial Regulatory Committee statements     

Sharing my way to success: A case study on developing entrepreneurial ventures using social capital in an OSS community

While Open Source Software (OSS) communities provide opportunities for knowledge creation, we have a limited understanding of how entrepreneurs leverage OSS communities for their entrepreneurial ventures. Using social capital theory in a mixed methods case study, we compare entrepreneur and non-entrepreneur behaviors to investigate how entrepreneurs build social capital within an OSS community. This study shows that entrepreneurs differentiate themselves from non-entrepreneurs by focusing on cognitive and relational capital building activities, which in return makes it possible for them to leverage their social capital to influence and shape the environment in which they are operating. Our findings suggest that entrepreneurs strategically select which activities within the community to expend their limited resources on (e.g., developing code over participating in email conversations) and build their social capital more through their actions than through their words (e.g., showing their commitment to the community through code commits, bug fixes, and documentation). Given the liabilities of newness and smallness as well as other challenges faced by entrepreneurs, applying an open innovation strategy in OSS communities could be one approach where entrepreneurs, by developing and freely revealing their intellectual property to the community, share their way to success via OSS-infused entrepreneurial business ventures.     

Behavioral Integration as a Relational Governance Mechanism in Family Firms—The Moderating Role of Family Involvement in Management

In this paper we introduce behavioral integration, a construct established in top management team (TMT) research, into the family firm field. TMT research argues that behavioral integration has a positive performance effect as it fosters commitment to the task at hand, joint goals, and mutual trust among TMT members. Because of these specific characteristics, we argue that behavioral integration might act as a relational governance mechanism that positively influences family firm performance. Based on research on family involvement in management, we posit that this positive performance effect of behavioral integration as a relational governance mechanism is particularly pronounced in family firms with a high degree of family involvement in management.     

The Narrow and Broad Approaches to Evolutionary Modeling in Economics

Some models in evolutionary economics rely on direct analogies to genetic evolution, assuming a population of firms with routines, technologies, and strategies on which forces of diversity generation and selection act. This narrow conception can build upon previous findings from evolutionary biology. Broader concepts of evolution allow many or just one adaptive entity, instead of necessarily requiring a population. Thus, an institution or a society can also be understood as an evolutionary entity. Both the narrow and broad approaches have been extensively used in the literature, albeit in different literature traditions. I provide an overview of the conception and development of both approaches to evolutionary modeling, and argue that a generalization is needed to realize the full potential of evolutionary modeling.