Robert P. Garrett

Governance in Multilateral R&D Alliances

In research and development (RD we also find that alliance scope moderates the relationship between the type of alliance and governance structure. Finally, we find that multilateral R&D alliances with predicted (aligned) governance structures perform better, in terms of alliance longevity, than those with misaligned structures.

Entrepreneur start-up versus persistence decisions: A critical evaluation of expectancy and value

Research suggests that entrepreneurs tend to seek to maximize utility when considering whether to pursue a new venture opportunity. However, when choosing whether to persist with their current venture or not, utility maximization may not be of primary importance. Using a conjoint experiment, this article examines the difference between policies in start-up decisions versus persistence decisions. The analysis of the decisions of 135 entrepreneurs indicates that the manner in which entrepreneurs use expectancy and value in persistence decision policies is significantly different to the way that they use expectancy and value in general opportunity pursuit decision policies. The results offer novel insights into the entrepreneurial decision-making process.

Internal Corporate Venture Operations Independence and Performance: A Knowledge‐Based Perspective

Internal corporate ventures (ICVs) are entrepreneurial initiatives originated within a company and intended from inception as new businesses for the parent. The literature suggests that parent–ICV structural separation positively affects ICV performance. However, the literature also suggests that ICVs can be nurtured within the parents existing organizational structure. Our model explores ICV operations independence as a knowledge flow impediment affecting ICV performance. Primary data from 145 ICVs suggest that operations independence is not associated with ICV performance, but that parent–venture market familiarity, venture opportunity identification mode, and venture planning autonomy moderate the relationship between operations independence and ICV performance.

A Model of Corporate Entrepreneurship as a Strategic Adaptation Mechanism

In business environments characterized by intense competition, globalization, rapid technological diffusion, accelerated product life cycles, and evolving industry boundaries, the ability of firms to adapt effectively to their changing environments is a strategic imperative (Hitt, Keats, & DeMarie, 1998; Nadler & Tushman, 1999). The exhibition of strategic adaptability – the ability of a firm to alter its alignment with the environment through reactive and proactive behaviors (Evans, 1991) – is a function of the goodness-of-fit that exists between the capabilities of a firm and the demands imposed by its relevant industry context (Burgelman & Grove, 1996). When firm capabilities are well aligned with industry success factors, those capabilities constitute strategic assets for the firm, or resources that lead to the achievement of competitive success in that context (Amit & Schoemaker, 1993). The possession of strategic assets thus contributes to a state of adaptation, defined by Chakravarthy (1982) as a state in which an organization exhibits the capacity to survive the conditions of its changing environment. Because of the constantly shifting nature of the environment, a state of adaptation is not a permanent settling point for the organization, but rather a moving target for the organization as it attempts to remain “mapped on” to the exigencies of the environment.

Does employee ownership increase innovation

One way that firms attempt to innovate is through investment in R&D activity. However, there is much heterogeneity in innovations among firms making comparable R&D investments. This article explores employee ownershipʼs moderating effect on the relationship between R&D intensity and innovative output. The basis for the moderation is that ownership increases motivation and commitment to the innovation agenda of the company, and retains employeesʼ entrepreneurial efforts for internal opportunities. Using hierarchical regression, the data support the hypothesis that employee stock ownership positively moderates the relationship between R&D intensity and innovative output. Implications for future research and practice are addressed.

How Do Family Firms Launch New Businesses? A Developmental Perspective on Internal Corporate Venturing in Family Business

This conceptual work depicts internal corporate venturing in family business as consisting of two separate and sequential strategic choices: first, the decision about the degree of relatedness between the parent firm and the venture; second, the definition of the level of venture autonomy. Drawing on stewardship theory, we argue that family business dynamics, and in particular the development of the ownership structure, influence how family firms pursue internal corporate venturing and make decisions related to such two steps. We also discuss the contingent effect of corporate governance characteristics and of the national legal system.

Challenges of quantitative research on internal corporate venturing

Internal corporate ventures are entrepreneurial initiatives that originate within the corporate structure (or within an existing business of the corporation) and are intended from inception as new businesses for the corporation. In spite of the long history associated with the phenomenon of internal corporate venturing, the literature provides surprisingly little quantitative evidence regarding factors important to internal corporate venturing success. Most of the literature is qualitative, while the few quantitative studies that do exist suffer from methodological problems that introduce contamination into their findings. The current paper outlines those methodological problems and proposes techniques for minimising their effects.

Internal corporate venturing in multi-generational family enterprises: A conceptual model

Introduction: What We Know About Family Entrepreneurship (Cristina Bettinelli and Kathleen Randerson) Part I: Intersection Family Business and Entrepreneurship 1. Partitioning Socioemotional Wealth to Stitch Together the Effectual Family Enterprise (Saras Sarasvathy, Ishrat Ali, Joern Block and Eva Lutz) 2. Corporate Family Entrepreneurship, the Seven Circumstances (Salvatore Sciascia and Cristina Bettinelli) 3. Social Family Entrepreneurship: Social issues and stakeholder salience in small- and medium-sized family firms (Giovanna Campopiano, Alfredo De Massis and Lucio Cassia) 4. Internal Corporate Venturing in Multi-Generational Family Enterprises: A Conceptual Model (Justin Craig, Robert Garrett and Clay Dibrell) 5. The Impact of Domestic Drivers and Barriers on the Entrepreneurial Start-up Decision (Rob Lubberink, Vincent Blok, Johan A.C. van Ophem and Onno S.W.F. Omta) Conclusion to part I (Giovanna Dossena) Part II: Intersection Family Business and Family 6. The Process of Identity Construction in The Family Business: A discursive psychology perspective (Richard T. Harrison and Claire M. Leitch) 7. Keeping it in the Family: Financial rewards in family firms (Sara Carter and Friederike Welter) 8. Understanding Entrepreneurial Behaviors in Family Firms: Does the socioemotional wealth model explain differences? (Jonathan Bauweraerts and Olivier Colot) 9. Entrepreneurial Family Firms: A research note on their qualifying characteristics (Angelo Renoldi) Conclusion to part II (Giovanna Dossena) Part III: Intersection Entrepreneurship and Family 10. Family Context and New Venture Creation (Sharon M. Danes) 11. The Role of Networking in the Growth Process of Entrepreneurial Family Firms (Sarah Dodd Drakopoulou, Alistair Anderson and Sarah Jack) 12. Habitual Entrepreneurship and the Socioemotional Wealth of Dynastic Family Enterprise: A synthesis of arguments and directions for future research (Robert VDG Randolph, James Vardaman and Hanqinq Fang) 13. Typology of Interactions and Data Content in Qualitative Family Case Study Research (Celine Barredy) Conclusion: What we need to know about Family Entrepreneurship (Alain Fayolle)

A Review and Comparison of Family Successor Types

Past research demonstrates family successors tend to underperform comparable non-family successors within family firms. However, research also suggests there are many positives to family members ma...

Venture Relatedness, Affordable Loss, and Responsibility for Internal Corporate Venture Planning

Corporations initiate new business ventures that can range from highly related to highly unrelated to their existing business operations. Degree of new internal corporate venture relatedness is assumed to drive the degree of planning autonomy parent corporations grant their ventures. The current research examines the influence of a parent corporation’s financial slack on the relationship between venture relatedness and planning autonomy. Results based on a sample of 145 internal corporate ventures indicate that slack strongly moderates the relationship between relatedness and autonomy, but the direction of the moderating effect depends on the type of relatedness being considered – i.e., either market familiarity or product similarity.