Excited to share a new working paper on “The mid-sized market trap in entrepreneurial scaling” co-authored with @EdSaiedi! Using large-scale website language adoption and interview data, we find that startups from mid-sized markets delay targeting new markets crucial for growth, increasing their adaptation costs. These results suggest that startups from mid-sized markets face a "satisficing" dilemma that can constrain their growth. https://t.co/snY97LUWzV
Should you have a side project during your PhD?
Often PhD students are discouraged to do so. My side project with with @KofiGilbert @SinziDorobantu @FlladiZilja turned out beautifully, I learned a lot, and can only recommend being open to opportunities! https://t.co/ZlBnuFssfb
Colin Cameron, econometrician and author with Trivedi of a fantastic econometrics textbook, has a deck of slides on causal inference for those interested.
https://t.co/UpkPuOvhro
@sc_cath@paulgp@Marco_DaRin Here's the extract while I thought the rest of this section makes for great reading. They explain how 40-70% hurdle rates, hence get justified.
@sc_cath@paulgp@Marco_DaRin and Thomas Hellmann have a nice chapter section 5.2.3d in their book where they explain why the high hurdle rate demanded by VCs makes sense, given an illiquidity premium, a failure rate premium and a service/monitoring premium.
"AI and illusions of understanding in scientific research"
Interesting paper about the role and limits of AI in science. Outlines four AI use cases (oracle, surrogate, quant and arbiter) and risks from becoming over-reliant on it.
Professor Ed Saiedi of Norwegian Business School @HandelshoyskBI on applying AI in businesses: "You don't need to replace your employees with AI solutions. You can scale your employees' work and capabilities by utilizing AI." #technology#ArtificialIntelligence#productivity
STR event at 9am EST Feb 27: "Strategic Human Capital Research"
👍Presenters: Thomaz Teodorovicz @TTeodorovicz, Shinjae Won, Federica De Stefano @De_Stefano_Fede, Philipp Meyer-Doyle
👍Discussants: Vanessa Burbano, Seth Carnahan @sethcarnahan
Signup🔎https://t.co/oW82s5XYts
❓ Most firms avoid hiring #refugees but what happens to the few that decide to employ them? In this study just out in @OrganizationSci, w/ Grazia Santangelo and Wolfgang Sofka, we explain why hiring refugees can lead to profitability gains for employers. https://t.co/5XFaaiuqqU
Perhaps as a telling is a quote they start with “On one side, ICT with mostly low technology risk and high market risk, and on the other side, biotech with high technology risk and low market risk… The problems start when we move outside of these two .. blueprints, …” (BCG, 21)
Ever wondered why deep tech startups have a harder time getting off the ground? Excellent paper on why deep tech startups still struggle to capture value explains, by Ashish Arora, Andrea Fosfuri and Thomas Rønde: https://t.co/cQnjzQVeeE
"This introduces a bias in the direction of innovation as projects that are primarily characterized by one type of challenge are more attractive investments compared to projects, equally or more valuable, which face both challenges."
Waiting for the payday? The market for startups and the timing of entrepreneurial exit
Management Science (2021)
by Ashish Arora, Andrea Fosfuri, Thomas Rønde
https://t.co/2D4itqY7t6
How does generative AI affect costly signaling, communication, and screening? Excited to share a new working paper with @bocowgill!
https://t.co/QonPCYiqDe
Happy to share that our paper "The strategic role of owners in firm growth" has been published in Strategic Entrepreneurship Journal. Thanks to my great co-authors Miriam Bird, Jannis von Nitzsch and Prof. @petergklein for his very helpful editorial work! https://t.co/YrcrDvyOfy
As far as we know, we're the first to empirically test some boundary conditions for the seminal piece by Nicolai J. Foss, Peter Klein, Lasse Lien, Thomas Zellweger and Todd Zenger in SMJ on "Ownership Competence", looking at a specific aspect of value creation, via firm growth.
We find:
-Owner-managers' competences increase growth
-Owner-managers in family firms don't benefit as much of their governance competence, due to the families' focus on "staying in control"
-Firm's reliance on owners' competences decreases with firm age & professionalization