Strategic decision making in international firms: effect of top management team internationalization on international strategic decision process

In this research project, I have integrated two research streams on international strategic decisions making in international firms: upper echelons or top management teams (TMT) internationalization research and international strategic decision making process research. Both research streams in international business literature have evolved independently, but there is a potential in combining these two streams of research. The first empirical paper “TMT internationalization and international strategic decision making process: a decision level analysis of rationality, speed, and performance” explores the influence of TMT internationalization on strategic decision rationality and speed and, subsequently, their effect on international strategic decision effectiveness (performance). The results show that the internationalization of TMT is positively related to decision effectiveness and this relationship is mediated by decision rationality while the hypotheses regarding the association between TMT internationalization and decision speed, and the mediating effect of speed were not supported. The second paper “TMT internationalization and international strategic decision rationality: the mediating role of international information” of my thesis is a simple but logical extension of first paper. The first paper showed that TMT Internationalization has a significant positive effect on international strategic decision rationality. The second paper explicitly showed that TMT internationalization affect on international strategic decision rationality comes from two sources: international experience (personal international knowledge and information) and international information collected from managerial international contacts. For this research project, I have collected data from international software firms in Pakistan. My research contributes to the literature on upper echelons theory and strategic decision making in context of international business and international firms by explicitly examining the link between TMT internationalization and characteristics of strategic decisions making process (i.e. rationality and speed) in international firms and their possible mediating effect on performance.

The Effect of Support Measures on Involvement in Technology Transfer

The present PhD dissertation is dedicated to the general topic of knowledge transfer from academia to industry and the role of various measures at both institutional and university levels in support of commercialization of university research. The overall contribution of the present dissertation work refers to presenting an in-depth and comprehensive analysis of the main critical issues that currently exist with regard to commercial exploitation of academic research, while providing evidence on the role of previously underexplored areas (e.g. strategic use of academic patents; female academic patenting) in a general debate on the ways to successful knowledge transfer from academia to industry. The first paper, included in the present PhD dissertation, aims to address this gap by developing a taxonomy of literature, based on a comprehensive review of the existing body of research on government measures in support of knowledge transfer from academia to industry. The results of the review reveal that there is a considerable gap in the analysis of the impact and relative effectiveness of the public policy measures, especially in what regards the measures aimed at building knowledge and expertise among academic faculty and technology transfer agents. The second paper, presented as a part of the dissertation, focuses on the role of interorganizational collaborations and their effect on the likelihood of an academic patent to remain unused, and points to the strategic management of patents by universities. In the third paper I turn to the issue of female participation in patenting and commercialization; in particular, I find evidence on the positive role of university and its internal support structures in closing the gender gap in female academic patenting. The results of the research, carried out for the present dissertation, provide important implications for policy makers in crafting measures to increase the efficient use of university knowledge stock.

The Impact Of Inward Licensing On New Venture’s Performance. Is inward licensing a winning strategy?

The original idea of the thesis draws on interrelated assumptions: 1) among the tools used, in the markets for technology, for the acquisition of external knowledge, the licensing agreements are acknowledged as one of the most important contractual mechanisms; 2) the liabilities of newness and the liabilities of smallness force new venture to strongly rely on external knowledge sources. Albeit the relevance of this topic, little attention has been paid so far to its investigation, especially in the licensing context; 3) nowadays there is an increasing trend in licensing practices, but the literature on markets for technology focuses almost exclusively on the incentives and rationales that foster firms’ decisions to trade their technologies, under-investigating the role of the acquiring firm, the licensee, overlooking the demand side of the market. Therefore, the thesis investigates the inward licensing phenomenon within the context of new ventures. The main questions that new venture licensee has to address if it decides to undertake an inward licensing strategy, can be summarized as follows: 1) Is convenient for a new venture to choose, as initial technology strategy, the implementation of an inward licensing ? 2) Does this decision affect its survival probabilities? 3) Does the age, at which a new venture becomes a licensee, affect its innovative capabilities? Is it better to undertake a licensing-in strategy soon after founding or to postpone this strategy until the new venture has accumulated significant resources? The findings suggest that new ventures licensees survive less than their non-licensee counterparts; the survival rates are directly connected to the time taken by firms to reach the market;being engaged in licensing-in deals some years after its inception allows a new venture licensee to increase its subsequent capacity to produce innovations.

Identity dynamics and the emergence of new organizational arrangements: A multi-level study

Organizational and institutional scholars have advocated the need to examine how processes originating at an individual level can change organizations or even create new organizational arrangements able to affect institutional dynamics (Chreim et al., 2007; Powell & Colyvas, 2008; Smets et al., 2012). Conversely, research on identity work has mainly investigated the different ways individuals can modify the boundaries of their work in actual occupations, thus paying particular attention to ‘internal’ self-crafting (e.g. Wrzesniewski & Dutton, 2001). Drawing from literatures on possible and alternative self and on positive organizational scholarship (e.g., Obodaru, 2012; Roberts & Dutton, 2009), my argument is that individuals’ identity work can go well beyond the boundaries of internal self-crafting to the creation of new organizational arrangements. In this contribution I analyze, through multiple case studies, healthcare professionals who spontaneously participated in the creation of new organizational arrangements, namely health structures called Community Hospitals. The contribution develops this form of identity work by building a grounded model. My findings disclose the process that leads from the search for the enactment of different self-concepts to positive identities, through the creation of a new organizational arrangement. I contend that this is a particularly complex form of collective identity work because it requires, to be successful, concerted actions of several internal, external and institutional actors, and it also requires balanced tensions that – at the same time - enable individuals’ aspirations and organizational equilibrium. I name this process organizational collective crafting. Moreover I inquire the role of context in supporting the triggering power of those unrealized selves. I contribute to the comprehension of the consequences of self-comparisons, organizational identity variance, and positive identity. The study bears important insights on how identity work originating from individuals can influence organizational outcomes and larger social systems.

Understanding the Combined Role of Internal and External Factors in New Service Development Process within the Professional Knowledge Intensive Business Service Firms

Our research asked the following main questions: how the characteristics of professionals service firms allow them to successfully innovate in exploiting through exploring by combining internal and external factors of innovation and how these ambidextrous organisations perceive these factors; and how do successful innovators in professional service firms use corporate entrepreneurship models in their new service development processes? With a goal to shed light on innovation in professional knowledge intensive business service firms’ (PKIBS), we concluded a qualitative analysis of ten globally acting law firms, providing business legal services. We analyse the internal and factors of innovation that are critical for PKIBS’ innovation. We suggest how these firms become ambidextrous in changing environment. Our findings show that this kind of firms has particular type of ambidexterity due to their specific characteristics. As PKIBS are very dependant on its human capital, governance structure, and the high expectations of their clients, their ambidexterity is structural, but also contextual at the same time. In addition, we suggest 3 types of corporate entrepreneurship models that international PKIBS use to enhance innovation in turbulent environments. We looked at how law firms going through turbulent environments were using corporate entrepreneurship activities as a part of their strategies to be more innovative. Using visual mapping methodology, we developed three types of innovation patterns in the law firms. We suggest that corporate entrepreneurship models depend on successful application of mainly three elements: who participates in corporate entrepreneurship initiatives; what are the formal processes that enhances these initiatives; and what are the policies applied to this type of behaviour.

The Road to Poverty Reduction: Corporate Governance and Female Participation in MFIs

1.Microfinance Industry – Context of Analysis. This paper is an introduction to the microfinance industry. It serves as a context of analysis, for the empirical settings and basis for building the theoretical argument for the thesis. 2.Women in Microfinance Institutions: The Road to Poverty Reduction and Gender Equality? One of the unique aspects of microfinance institutions is their focus on outreach, i.e. their ability to reach the poor. This paper explores whether the presence of women in microfinance institutions is associated with improved outreach. Building on prior research that shows that women tend to improve financial performance and social responsibility, we examine an original dataset of 226 microfinance institutions. The empirical results suggest that the presence of a female CEO, female managers and female loan officers is directly related to improved outreach, while the presence of women board members is not. 3. Women in Microfinance Institutions: Is There a Trade-Off Between Outreach and Sustainability? Abstract This paper’s contribution to the understanding of microfinance is two-fold. First, while it has been shown that female CEOs in MFIs increase financial performance, it will be argued that female managers, female loan officers and female board members will do the same. Secondly, having previously shown that having a female presence in management in MFIs improves social performance the outreach, it will be argued that having females in the MFIs’ management will not lead to a trade-off between outreach and sustainability. These findings are based on an original data set of 226 MFIs. Statistical analysis demonstrates that a weak relationship between female managers and female loan officers vis-à-vis financial performance, but female board members do not. The trade-off between outreach and sustainability can be avoided with the appointment of females to the MFIs’ management positions, but the same cannot be concluded for female board members.

Fellow travelers: an ethnographic study of the dynamics of inter-organizational collaboration

The research is a 13-months ethnographic field work on the early operations of a Multi-party alliance active in the global field of indoor positioning. The study aims to understand and investigate empirically the challenges that at the individual and group level influence the organizing principle guiding the alliance operations and evolution. Its contribution rests on the dynamics affecting ecosystems of innovation and collaborative spaces of value co-creation in inter-organizational projects.

Essays in Media and Finance

This Ph.D. thesis consists in three research papers focused on the relationship between media industry and the financial sector. The importance of a correct understanding what is the effect of media on financial markets is becoming increasingly important as long as fully informed markets hypothesis has been challenged. Therefore, if financial markets do not have access to complete information, the importance of information professionals, the media, follows. On the other side, another challenge for economic and finance scholar is to understand how financial features are able to influence media and to condition information disclosure. The main aim of this Ph.D. dissertation is to contribute to a better comprehension for both the phenomena. The first paper analyzes the effects of owning equity shares in a newspaper- publishing firm. The main findings show how for a firm being part of the ownership structure of a media firm ends to receive more and better coverage. This confirms the view in which owning a media outlet is a source of conflicts of interest. The second paper focuses on the effect of media-delivered information on financial markets. In the framework of IPO in the U.S. market, we found empirical evidence of a significant effect of the media role in the IPO pricing. Specifically, increasing the quantity and the quality of the coverage increases the first-day returns (i.e. the underpricing). Finally the third paper tries to summarize what has been done in studying the relationship between media and financial industries, putting together contributes from economic, business, and financial scholars. The main finding of this dissertation is therefore to have underlined the importance and the effectiveness of the relationship between media industry and the financial sector, contributing to the stream of research that investigates about the media role and media effectiveness in the financial and business sectors.

Flexibility and firm value: the role of inventories

In the present thesis I study the contribution to firm value of inventories management from a risk management perspective. I find a significant contribution of inventories to the value of risk management especially through the operating flexibility channel. In contrast, I do not find evidence supporting the view of inventories a reserve of liquidity. Inventories substitute, albeit not perfectly, derivatives or cash holdings. The substitution between hedging with derivatives and inventory is moderated by the correlation between cash flow and the underlying asset in the derivative contract. Hedge ratios increase with the effectiveness of derivatives. The decision to hedge with cash holdings or inventories is strongly influenced by the degree of complementarity between production factors and by cash flow volatility. In addition, I provide a risk management based explanation of the secular substitution between inventories and cash holdings documented, among others, in Bates et al. (2009), Journal of Finance. In a sample of U.S. firms between 1980 and 2006, I empirically confirm the negative relation between inventories and cash and provide evidence on the poor performance of investment cash flow sensitivities as a measure of financial constraints also in the case of inventories investment. This result can be explained by firms' scarce reliance on inventories as a reserve of liquidity. Finally, as an extension of my study, I contrast with empirical data the theoretical predictions of a model on the integrated management of inventories, trade credit and cash holdings.

Patent nonnuse: are patent pools as possible solution?

Studies have depicted that the rate of unused patents comprises a high portion of patents in North America, Europe and Japan. Particularly, studies have identified a considerable share of strategic patents which are left unused due to pure strategic reasons. While such patents might generate strategic rents to their owner, they may have harmful consequences for the society if by blocking alternative solutions that other inventions provide they hamper the possibility of better solutions. Accordingly, the importance of the issue of nonuse is highlighted within the literature on strategic patenting, IPR policy and innovation economics. Moreover, the current literature has emphasized on the role of patent pools in dealing with potential issues such as excessive transaction cost caused by patent thickets and blocking patents. In fact, patent pools have emerged as policy tools facilitating technology commercialization and alleviating patent litigation among rivals holding overlapping IPRs. In this dissertation I provide a critical literature review on strategic patenting, identify present gaps and discuss some future research paths. Moreover, I investigate the drivers of strategic non-use of patents with particular focus on unused strategic play patents. Finally, I examine if participation intensity in patent pools by pool members explains their willingness to use their non-pooled patents. I also investigate which characteristics of the patent pools are associated to the willingness to use non-pooled patents through pool participation. I show that technological uncertainty and technological complexity are two technology environment factors that drive unused play patents. I also show that pool members participating more intensively in patent pools are more likely to be willing to use their non-pooled patents through pool participation. I further depict that pool licensors are more likely to be willing to use their non-pooled patents by participating in pools with higher level of technological complementarity to their own technology.

Identity Changes and Consumer Behavior. How Becoming Parents Changes Our Consumption Choices

This research aims at investigating the impact of the identity change on consumption. An identity change is defined as the acquisition of a new identity after a life change event. For instance after the birth of the first child the new identity as parent is acquired and a woman can define herself as a mother. Despite marketing research recognizes that individuals’ identity is unstable and susceptible to change, the investigation of the identity change is still in its infancy. Furthermore, marketing research did not investigate the contextual effect of the new as well as the old identity on individuals’ reaction toward identity-marketing. In order words, whether people show a more favorable reaction toward product related to their new or their old identities after an identity change is still unclear. In order to answer this question, five studies are conducted. Results show that when the new identity substitutes the old one, people show a more positive reaction toward new-identity related products, while when the new identity is added to the old ones, people show a more positive reaction toward old-identity related products. This is the case also when the new identity accounts for high levels of identification (study three) and when the old identity is squeezed by the new one (studies four and five). A new concept, the identity strain, is then introduced and discussed.

Knowledge management in intelligent tutoring systems

In the last years, Intelligent Tutoring Systems have been a very successful way for improving learning experience. Many issues must be addressed until this technology can be defined mature. One of the main problems within the Intelligent Tutoring Systems is the process of contents authoring: knowledge acquisition and manipulation processes are difficult tasks because they require a specialised skills on computer programming and knowledge engineering. In this thesis we discuss a general framework for knowledge management in an Intelligent Tutoring System and propose a mechanism based on first order data mining to partially automate the process of knowledge acquisition that have to be used in the ITS during the tutoring process. Such a mechanism can be applied in Constraint Based Tutor and in the Pseudo-Cognitive Tutor. We design and implement a part of the proposed architecture, mainly the module of knowledge acquisition from examples based on first order data mining. We then show that the algorithm can be applied at least two different domains: first order algebra equation and some topics of C programming language. Finally we discuss the limitation of current approach and the possible improvements of the whole framework.

Sustainability indicators for environmental management and decision making

The general objective of this research is to explore theories and methodologies of sustainability indicators, environmental management and decision making disciplines with the operational purpose of producing scientific, robust and relevant information for supporting system understanding and decision making in real case studies. Several tools have been applied in order to increase the understanding of socio-ecological systems as well as providing relevant information on the choice between alternatives. These tools have always been applied having in mind the complexity of the issues and the uncertainty tied to the partial knowledge of the systems under study. Two case studies with specific application to performances measurement (environmental performances in the case of the K8 approach and sustainable development performances in the case of the EU Sustainable Development Strategy) and a case study about the selection of sustainable development indicators amongst Municipalities in Scotland, are discussed in the first part of the work. In the second part of the work, the common denominator among subjects consists in the application of spatial indices and indicators to address operational problems in land use management within the territory of the Ravenna province (Italy). The main conclusion of the thesis is that a ‘perfect’ methodological approach which always produces the best results in assessing sustainability performances does not exist. Rather, there is a pool of correct approaches answering different evaluation questions, to be used when methodologies fit the purpose of the analysis. For this reason, methodological limits and conceptual assumptions as well as consistency and transparency of the assessment, become the key factors for assessing the quality of the analysis.

Ultra-low power WSNs: distributed signal processing and dynamic resource management

This thesis presents several data processing and compression techniques capable of addressing the strict requirements of wireless sensor networks. After introducing a general overview of sensor networks, the energy problem is introduced, dividing the different energy reduction approaches according to the different subsystem they try to optimize. To manage the complexity brought by these techniques, a quick overview of the most common middlewares for WSNs is given, describing in detail SPINE2, a framework for data processing in the node environment. The focus is then shifted on the in-network aggregation techniques, used to reduce data sent by the network nodes trying to prolong the network lifetime as long as possible. Among the several techniques, the most promising approach is the Compressive Sensing (CS). To investigate this technique, a practical implementation of the algorithm is compared against a simpler aggregation scheme, deriving a mixed algorithm able to successfully reduce the power consumption. The analysis moves from compression implemented on single nodes to CS for signal ensembles, trying to exploit the correlations among sensors and nodes to improve compression and reconstruction quality. The two main techniques for signal ensembles, Distributed CS (DCS) and Kronecker CS (KCS), are introduced and compared against a common set of data gathered by real deployments. The best trade-off between reconstruction quality and power consumption is then investigated. The usage of CS is also addressed when the signal of interest is sampled at a Sub-Nyquist rate, evaluating the reconstruction performance. Finally the group sparsity CS (GS-CS) is compared to another well-known technique for reconstruction of signals from an highly sub-sampled version. These two frameworks are compared again against a real data-set and an insightful analysis of the trade-off between reconstruction quality and lifetime is given.

Adulthood with Turner Syndrome: Quality of life, psychosocial adjustment and clinical management in 70 Italian women

Abstract Background: Turner syndrome (TS) is a chromosomal abnormality (total or partial absence of one of the sexual chromosomes in some or all cells of the body), which affects approximately 1:2000 female. Principal characteristics are short stature and gonadal disgenesis. Clinical management consist of Growth Hormone (GH) treatment and oestrogen replacement therapy (HRT), to induce development of secondary characteristics and to avoid the sequelae of oestrogen deficiency. Aim of the study: To assess clinical management, quality of life (QoL) and general psychosocial adjustment of women with TS. Population: 70 adult Caucasian females with TS (mean age: 27.8, ± 7.6; range 18-48 y.). Setting: Specialist service for Rare Disease care, University Hospital. Methods: Subjects were required to fill in questionnaires collecting ASR, WHOQOL, and 8 open questions. Data were compared with those of the Italian population or to those collected in a comparison group (70 healthy females, mean age: 27.9, ±7.3, range 21-48 y.). Results: Women with TS are educated as well as the Italian Population, but they have a less successful professional life. They show good QoL in general, but they appeared less satisfied in social area. They had statistically higher scores than the comparison group for depression, anxiety and withdrawal. Are less involved in a love relationship. Diagnosis communication was mostly performed by doctors or parents, satisfaction was higher when information was given by parents. Main preoccupation about TS are infertility, feeling of being different and future health problem. Conclusions: Italian people with TS were generally well adapted and have a good QoL, but lived more often with parents and show impaired sentimental and sexual life. They have higher degree of psychological distress compared to a comparison group. Psychological intervention should firstly address parents in order to encourage an open communication on diagnosis issues and on sexual education.