Michael J. Leiblein
Ohio State University
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Publication
Featured researches published by Michael J. Leiblein.
Academy of Management Journal | 1996
Kent D. Miller; Michael J. Leiblein
This study tested a model of firm risk-return relations in which risk was conceptualized in terms of downside outcomes. Drawing on the behavioral theory of the firm, we developed a set of hypothese...
Journal of Management | 2003
Michael J. Leiblein
This paper develops an approach to organizational governance decisions that recognizes how the choice of organizational governance form affects both the creation and appropriation of economic value. The paper begins with a detailed survey of three theoretical approaches— transaction cost economics (TCE), the resource-based view (RBV), and Real Options analysis (RoA) to the study of organizational governance. This review serves to provide background material on each theory as well as to identify the similarities and differences in the assumptions underlying these perspectives. A concluding section provides a series of propositions for future empirical research that may help to integrate these theories by incorporating notions of both value creation and value appropriation.
Academy of Management Journal | 2000
Jeffrey J. Reuer; Michael J. Leiblein
Investments in dispersed foreign subsidiaries and international joint ventures (IJVs) are often thought to enhance corporate flexibility and thereby reduce risk. The authors tested these prediction...
Journal of Management | 2011
Michael J. Leiblein
The purpose of this editorial is to review the basic definitions, assumptions, and propositions offered by the resource-based, strategic factor market, and dynamic capability literature streams. Considering the underlying definitions and assumptions associated with these approaches leads directly to a set of refutable propositions that highlight the distinct insights offered by each of these literatures. It is hoped that accentuating these distinctions may stimulate dialogue regarding the underlying causal mechanisms associated with these approaches and foster future empirical work testing these related perspectives.
Journal of Management | 2013
Sharon D. James; Michael J. Leiblein; Shaohua Lu
Over the past 25 years, the technology strategy literature has examined how four primary mechanisms—patents, secrecy, lead time, and complementary assets—influence whether and to what extent firms capture value generated by their innovations. Although this literature has had a profound impact on our understanding of how firms capture value from innovation, we have yet to develop a robust theory that allows us to unbundle the characteristics of institutions, industries, firms, and individual technologies that affect the selection of particular value capture mechanisms. The purpose of this article is to provide a foundation for addressing these gaps in the literature. We identify and assess relevant scholarly work regarding value capture mechanisms published in top-tier peer-reviewed management journals between 1980 and 2011. We then review the assumptions, insights, and causal mechanisms for the antecedents and consequences of the value capture mechanisms highlighted in these articles. The ultimate objective is to identify research opportunities that help to better understand the conditions under which specific bundles of value capture mechanisms are most likely to help innovating firms achieve persistent superior performance.
Journal of Industrial Economics | 2003
Ricardo Cabral; Michael J. Leiblein
This article analyzes the adoption of a new process technology in the global semiconductor manufacturing industry. The paper extends research on the relationship between learning-by-doing and technology adoption by examining the stability of learning effects across technological generations. While the results indicate that production experience with the immediately preceding technological generation is associated with a higher likelihood of adoption, we find no evidence that experience with older technologies or regional knowledge spillovers influence adoption. Finally, the results indicate that large firms and memory manufacturers have a higher likelihood of adoption than small firms and non-memory manufacturers, respectively. Copyright 2001 by Blackwell Publishing Ltd
Archive | 2006
Michael J. Leiblein; Arvids A. Ziedonis
This paper examines the application of real option theory to sequential investment decision-making. In an effort to contribute to the development of criteria that discriminate between investments that confer growth options from those that confer deferral options, we introduce a conceptual model that explains technological adoption as a sequence of embedded options. Upon the introduction of each successive technological generation, a firm may either defer investment and wait for the arrival of a future generation or invest immediately to obtain experience that provides a claim on adoption of subsequent generations. We propose that deferral and growth option value is dependent on the magnitude, frequency, and uncertainty of inter-generational change, and the nature of rivalry.
Journal of Management | 2017
Michael J. Leiblein; John S. Chen; Hart E. Posen
This paper develops a realistic real option theory of resource allocation decisions in strategic factor markets. Competitive advantage in factor markets is underpinned by market failures that allow firms to acquire assets at less than their value in use. We recognize that market failure may result from uncertainty regarding the current and/or future value of an asset, which map, respectively, to uncertainty as modeled in the feedback learning and real options literatures. The realistic real option framework we develop grafts insights from the strategic factor market, feedback learning, and real option valuation literatures. We argue that competitive advantage may emerge not only from luck, or ex ante differences in information or complementary assets, but also because firms differ in a specific type of learning ability — the ability to integrate new information to exercise a contingent claim on an asset in a factor market. We dimensionalize these differences in terms of information processing and belief updating, argue that these differences lead to different resource allocation decisions, and suggest how these decisions may generate competitive advantage.
Strategic Management Journal | 2003
Michael J. Leiblein; Douglas J. Miller
Strategic Management Journal | 2002
Michael J. Leiblein; Jeffrey J. Reuer; Frédéric Dalsace