ABSTRACT In this paper, we develop a new perspective on what determines firms’ choice of new markets for entry. First, drawing on the open‐system theoretical tradition and literature on inter‐organizational networks, we advance and empirically test the proposition that firms tend to enter new markets to which they are connected by partnership ties. We then show that this network influence is filtered through the structure of firms’ network connections to new markets and firms’ experience. Specifically, we find that multiplicity of connections to new markets, as well as the extensiveness of firms’ experience and its relevance to new markets weaken the effect of network ties on firms’ choice of new markets. The results of this study indicate that firms’ choice of new markets for entry is a nuanced process that is affected by the interplay of firms’ collaborative ties, the structure of their network, and firms’ internal capabilities. We test our hypotheses in the empirical context of the U.S. venture capital (VC) industry using panel data over a 23‐year period and find broad support for them.

ABSTRACT In this paper, we develop a new perspective on what determines firms’ choice of new markets for entry. First, drawing on the open‐system theoretical tradition and literature on inter‐organizational networks, we advance and empirically test the proposition that firms tend to enter new markets to which they are connected by partnership ties. We then show that this network influence is filtered through the structure of firms’ network connections to new markets and firms’ experience. Specifically, we find that multiplicity of connections to new markets, as well as the extensiveness of firms’ experience and its relevance to new markets weaken the effect of network ties on firms’ choice of new markets. The results of this study indicate that firms’ choice of new markets for entry is a nuanced process that is affected by the interplay of firms’ collaborative ties, the structure of their network, and firms’ internal capabilities. We test our hypotheses in the empirical context of the U.S. venture capital (VC) industry using panel data over a 23‐year period and find broad support for them.

While the multidivisional form can foster efficient organization of diverse lines of business, it requires a complementary mechanism to share resources across businesses. This study explores whether the transfer of executive managers across business divisions is driven by inter-divisional resource sharing, and how external market conditions shape the relative advantage of inter-divisional executive transfer over alternatives like within-division appointment or external recruitment. Focusing on Korean business groups, our empirical analysis reveals that the availability of corporate-level resources and given exchange relationships among business divisions influences inter-divisional executive transfer. We also find that intensified product market competition and stronger external capital market control diminish the value of inter-divisional executive transfer and instead promote external recruitment of executives.

This paper investigates the effect of founders’ prior career experiences on technological development of their subsequent ventures in the context of emerging fields of innovation. While existing research has documented that founders’ prior experiences provide the relevant knowledge for their venture development, we have limited understanding about what specific sources of prior experiences can aid technology development in the emerging fields of innovation. Drawing on the idea of paradoxical nature of prior experiences, we specifically compare two major sources of prior experiences: from industry incumbents versus research institutions. Using the data of 71 U.S. technology ventures and their founders in the autonomous driving field, we present the contrasting findings: prior experiences from industry incumbents have a negative effect on technology development, but those from research institutions have a positive effect. We further find that the effects of both sources of prior experiences are amplified as the venture accumulates experiential knowledge. Our research highlights that the founders’ prior experiences, depending on their sources of origin, can have diverging ramifications in their ventures’ technological progress.

This paper examines the relationship between time and performance in the commercialisation of university-originated inventions. Focusing on the commercialisation time, defined as the time taken for a lab-scale invention to be developed for commercial sale, we investigate whether there is any systematic association between commercialisation time and the licensing revenue generated by university-originated inventions. Analysing a sample of inventions from Stanford University, we find that both pre- and postlicensing time of commercialisation are negatively associated with its licensing revenue. We also find that the negative relationship between the postlicensing time of commercialisation and licensing revenue is contingent on the inventor???s orientation towards university-industry collaboration. We discuss theoretical and practical implications of our findings as well as future avenues of research in technology

This study investigates gender differences in managerial turnover among top managers in South Korea. While there is a growing literature on the gender diversity in corporate management, we still have little understanding on the gender gap in workplace in the family business context. We address this research gap by examining the Korean corporate context in which the family plays a crucial role in corporate decision making. We argue that the gender gap in managerial turnover for Korean managers is different for family managers and non-family managers and is dependent upon gender composition of the management. We test our predictions using data from senior managers in Korean firms for the period of 2014-2019. The findings show lower exit rates for female managers compared to male managers, especially when they belong to the family (via either kinship or marital ties) of the ultimate firm owner. In addition, we find that lower exit rates by female managers are subject to gender composition among family managers. By empirically documenting gender difference in managerial turnover in the family business context, our study contributes to the research about gender and management and suggest that firms make strategic decisions in their response to the social pressure of gender diversity by keeping female family members in top management.