Luigi Orsi

The combined effect of technological relatedness and knowledge utilization on explorative and exploitative invention performance post-M & A

Purpose – The purpose of this paper is to investigate the combined effect of Mergers and Acquisitions (M & A) partners’ technological relatedness and the acquirer’s effective utilization of the target’s knowledge on explorative and exploitative invention performance post-M & A. Design/methodology/approach – Based on the knowledge perspective of an M & A, this study measures how much of the target’s knowledge acquired in an M & A has been effectively transformed into new knowledge. A negative binomial regression on a cross-sectional data set of 152 bio-pharmaceutical firms (59 European firms and 93 North American firms) completing at least one M & A in the period between 2001 and 2005 is conducted. The effect of knowledge utilization is assessed by comparing performance six years before the M & A and six years after. Findings – The effective assimilation and utilization of acquired knowledge positively affects both acquirers’ explorative and exploitative performance post-M & As. The combined effect with te...

Knowledge utilisation drivers in technological M&As

Several contributions look at the effect of technological M&As on the acquirers technological performance. The knowledge-based perspective highlights the critical role that the acquirers targets knowledge absorption plays as the main driver in enhancing post-M&A technological performance. However, absorptive capacity is a rather complex construct, which includes assimilation, utilisation and transformation of the acquired knowledge. In this paper, we focus on knowledge utilisation and investigate two factors whose effects on post-M&A technological performance have been extensively highlighted: technological relatedness and managerial experience. We contribute to the existing literature with a better understanding of the factors underlying the utilisation of the knowledge acquired in M&As. This should help managers to enhance their capacity to manage integration process post-M&As. Our results are based on a cross-sectional data set of 152 biopharmaceutical acquirers that completed at least one M&A between 2001 and 2005.

Traceability and risks: an extended transaction cost perspective

Purpose The aim of the paper is to investigate the determinants leading firms to choose among different voluntary standards within food supply chains. In specific, the authors explored the role of transaction risks, i.e. internal and exogenous risks, in the adoption of different traceability standards. Design/methodology/approach A survey was conducted within the Italian population of 216 food-processing firms that adopt voluntary traceability schemes. The identification of different transaction risks was based on the literature on supply chain management and transaction cost economics. An ordinal regression model was used in the analysis. Findings Empirical results highlight that the transaction risks perceived by food firms play a significant role on the kind of traceability schemes to adopt. There is a positive link between internal risks and the decision to implement complex schemes. Moreover, a negative relationship between the perceived exogenous risks and the complexity of the standard adopted is also observed. Exogenous transaction risk lead to the implementation of standards which do not imply strong co-ordination. On the contrary, internal risks imply complex schemes that lead to closer supply chain relationships. Research limitations/implications The analysis is limited to cross-sectional data for a single country, and further investigation would help assess the generalisation of the findings. Practical implications The analysis can be considered a useful framework to orient firms strategic decisions towards the most appropriate voluntary standard to adopt for an efficient management of vertical relationships within food supply chains. Originality/value The present analysis is the first attempt to explain the determinants leading firms to choose among different kinds of voluntary standards within food supply chains. The approach used reveals that transaction risks can be considered a useful framework to explain firms’ strategic decisions related to the kind of schemes to adopt.

Immigrant entrepreneurship in the Milan metropolitan area: results from an empirical analysis

Immigrant entrepreneurship is increasingly regarded as a potential source of sustainable development. But even while this potential is gaining popularity, the available data are still not sufficient to establishing ad-hoc policies that would support the development of this form of entrepreneurship. This drawback of the current data is mainly due to its descriptive nature and macro character, which do not allow policymakers to address key factors in the start-up of new ventures, such as motivations for becoming an entrepreneur, barriers and enabling factors, and social and economic impacts at both the urban and regional level. The objective of this paper is to advance this area of research by investigating these issues in the context of 118 entrepreneurs currently working in the metropolitan area of Milan. Our results contradict some of the key assumptions generally accepted in literature.

New venture high growth in high-tech environments

ABSTRACT The aim of this article is to understand the triggering factors of new firm growth in high-tech environments (life science, knowledge-intensive business services [KIBS] and engineering) by studying a representative sample of high-growth Italian start-ups. Our empirical research uses the information gathered during direct interviews with managers through a semi-structured questionnaire, which was presented to 382 new Italian firms. Considering the characteristics of new firms, this article summarizes the key growth factors. Investment in acquiring new competencies both in technology and marketing, development of dynamic capabilities (investment in human resources and new routines) and access to external knowledge and information sources emerged as significant.

Coalition loyalty-programme adoption and urban commercial-network effectiveness evaluation

Purpose – To counter the proliferation of out-of-town shopping centres, a spontaneous or planned coalition loyalty programme (CLP), one involving most retailers in an urban network, may positively affect a town centres capacity to entice customers and may enhance its competitiveness. The purpose of this paper is to assess the effectiveness of CLP implementation in town-centre management (TCM) as a tool for enhancing urban commercial-system attractiveness. Design/methodology/approach – The theoretical framework used in this study is supported by the evaluation methodologies of an empirical case study: the Savigliano Card project. CLP performance analysis uses a dynamic network-competitiveness index, an approach based on Laspeyres-type decomposition. The effects on each retailers profitability are then tested by matching network and regression analyses. Findings – The results suggest that CLPs implementation in a TCM scheme can produce benefits and positive externalities for customers, retailers and urban...

The evolution of the social understanding of ethnic entrepreneurship: results from a bibliometric analysis of the literature

There is growing attention toward the role of ethnic entrepreneurship as a potential source of social integration and economic growth. Despite this recent interest, there is in fact a long tradition of studies focusing on ethnic entrepreneurship. Furthermore, there are also a number of qualitative literature reviews that attempt to systematise the main findings in this field of study. We contribute to existing literature by providing a more objective representation of how this concept has evolved on the basis of a bibliometric review of the literature. Our results are based on a sample of 102 publications published on this topic since 1990. Our main contribution is to show that the concept of ethnic entrepreneurship has evolved into three phases. In the first phase, scholars focused mainly on cultural factors in order to explain the differences in entrepreneurship across ethnic communities. In the second phase, the focus shifted toward the structure of opportunities available in the host society. Nowadays, scholars are focusing on the role of networking and embeddedness, and on the creation of seedbed conditions for the development of ethnic entrepreneurship in metropolitan areas.

Dimensioni di attrattività della città e implicazioni di marketing. Una ricerca sulle percezioni dei potenziali cittadini

L’articolo si focalizza sul tema dell’attrattivita di una citta e del suo territorio su scala internazionale. L’obiettivo e quello di riflettere su quali dimensioni e quali fattori critici di successo i decision makers debbano lavorare. La tematica viene inserita in un contesto specifico, attraverso la presentazione dei risultati di un’indagine percettiva realizzata sulla citta di Milano nel periodo 2009-2010. L’analisi - effettuata su 2000 cittadini non residenti (1000 italiani e 1000 stranieri) - porta in evidenza interessanti implicazioni di marketing e dimensioni di attrattivita agli occhi dei potenziali cittadini di Milano che nei prossimi anni vedranno il sistema territoriale milanese trasformarsi in modo significativo.

Mapping Inventors’ Networks to Trace Knowledge Flows Among EU Regions

Recent literature on technological changes has highlighted the role of knowledge recombination in innovation. Evidence suggests that the production of scientific and technological knowledge is becoming an increasingly collective phenomenon. Thus, in rapidly developing industries, it is almost inevitable to develop inter-organizational collaborations to identify new opportunities for new technologies.

Turismo del benessere e offerta agrituristica: l'agri-Spa come nuovo modello di business

Wellness tourism provides the visitor with a range of activities and/ or treatments which are aimed at developing, maintaining and improving the body-mind-spirit; it covers the broadest scope of engagement: ranging from weekend hotel-Spa (salus per aquam) breaks that include massage treatments, to intensive month-long yoga and spiritual retreats. The proliferation of wellness centres, holistic retreats, Spas, spiritual pilgrimages, complementary and alternative therapies is nowadays unprecedented. Nevertheless, the analysis of the economics and management of the wellness sector is scarce. This work aims to fill this gap, analysing in details a special type of emergent segment of wellness tourism in Italy: the agri-Spa. Our paper investigates this phenomenon providing an interesting picture of the agri-Spa business in Italy. Our arguments are supported by an empirical analysis based on data coming from a sample of 1572 firms operating in 2010 in Italy.