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Learning or Inertia? The Impact of Experience and Knowledge Codification on Post-Acquisition Integration 

Date: 30/10/2017 Author(s): Castellaneta, Francesco; Valentini, Giovanni; Zollo, Maurizio Document type: Article in Journal (refereed) This article develops and tests a theory on the evolution of complex organizational decisions, such as the decision to integrate (or not) a target company during the post-acquisition management phase. Using a sample of US bank mergers, we show that persistence in--or variation of--integration decisions depends on two key factors: integration experience ... More information  

Super Partes? Assessing the Effect of Judicial Independence on Entry 

Date: 03/08/2017 Author(s): Valentini, Giovanni; Conti, Raffaele Document type: Article in Journal (refereed) Incumbents can enjoy a cost advantage vis-à-vis new entrants and so deter new firm entry by establishing and leveraging connections with the judicial system. Connected firms may in fact avoid to fully comply with the costly norms implied by a law, a regulation, or a contract. At the same time, they can also credibly threaten to sue new entrants. Therefore, ... More information   Read related article

Remaining a Competitive Force 

Date: 13/12/2016 Author(s): Valentini, Giovanni Document type: Opinion Twenty-five years ago, Harvard Business School professor Michael Porter first came to IESE to deliver a session on international competitiveness, a subject on which he is an authority. For more than three decades, Porter's books have shaped the way we think about business strategy. In a field prone to passing fads, his ideas have staying power. More information  

Bribery and Investment: Firm-Level Evidence from Africa and Latin America 

Date: 09/2016 Author(s): Birhanu, Addis; Gambardella, Alfonso; Valentini, Giovanni Document type: Article in Journal (refereed) Using a unique database that measures firm-level bribery in Africa and Latin America, we corroborate extant results in the literature that paying bribes deters firm investments in fixed assets. Our contribution is to explore four mechanisms. By adopting a reverse causality approach (Gelman and Imbens, 2013), we find evidence consistent with one of ... More information   Read related article

Open Innovation: Are Inbound And Outbound Knowledge Flows Really Complementary? 

Date: 06/2016 Author(s): Cassiman, Bruno; Valentini, Giovanni Document type: Article in Journal (refereed) One novel implication of the open innovation paradigm is that inflows and outflows of knowledge are complementary. We argue that engaging simultaneously in buying and selling knowledge should allow firms to increase innovation outcomes. At the same time, we identify some of the relevant costs (cognitive, transaction, and organizational costs) that ... More information   Read related article

Technology Complexity and Target Selection 

Date: 04/2015 Author(s): Mas, Núria; Valentini, Giovanni Document type: Article in Journal (refereed) This article examines the role of technology in the selection of targets in a merger. Held technology should have a notable impact, especially in contexts in which specific know-how resides with experts as well as within organizational routines that are difficult to reproduce. By acquiring a target, firms obtain novel technologies, along with the knowledge ... More information   Read related article

Strategic Incentives to Human Capital 

Date: 01/01/2015 Author(s): Gambardella, Alfonso; Panico, Claudio; Valentini, Giovanni Document type: Article in Journal (refereed) Motivating human capital in knowledge-intensive activities is a serious managerial challenge because it is difficult to link rewards to actions or performance. Firms instead might motivate knowledge workers by offering them opportunities to increase personal benefits (e.g., learning, satisfaction) through autonomy in the decision-making process. Our ... More information  

The Rejuvenation of Inventors through Corporate Spin-Outs 

Date: 11/2014 Author(s): Cirillo, Bruno; Brusoni, S.; Valentini, Giovanni Document type: Article in Journal (refereed) This article focuses on corporate spinouts as a strategy that can rejuvenate the inventive efforts of inventors with a long tenure in the same company. We rely on an unbalanced panel of 5,604 inventor-year observations to study a matched sample of 431 inventors employed by the Xerox Corporation and find evidence in support of three predictions. First, ... More information  

Selective Learning-by-Exporting: Firm Size and Product Versus Process Innovation 

Date: 01/08/2014 Author(s): Golovko, Elena; Valentini, Giovanni Document type: Article in Journal (refereed) We further examine the 'learning-by-exporting' phenomenon, suggesting that firms gain from the learning opportunity of foreign markets, as they make choices that better fit the specific needs of their innovation strategies. We contend that firm size affects these needs, with large firms being more inclined to pursue process innovations, while SMEs ... More information  

M&A and the Profile of Inventive Activity 

Date: 01/11/2012 Author(s): Valentini, Giovanni; Di Guardo. M.C. Document type: Article in Journal (refereed) This article examines the effect of mergers and acquisitions (M&A) on the profile of merging firms' inventive activity. The authors conceive of the inventive process as a recombinant search, whose outcome can be characterized along two complementary dimensions, which define its profile: its depth of impact on subsequent inventions, and its breadth ... More information  
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