The Spanish corporate structure through interlocking directorates

[EN] The aim of this paper is to determine to what extent globalization pressures are changing interlocking directorate networks modeled on continental capitalism into Anglo-Saxon models. For this purpose we analyse the Spanish network of interlocks, comparing the present structure (2012) with that of 1993 and 2006. We show how, although Spanish corporative structure continues to display characteristics of the continental economies, some major banks are significantly reducing industrial activity. Nevertheless, the financial organizations continue to maintain a close relationship with sectors such as construction and services. The analysis of the network of directorates shows a retreat in activity of industrial banking in Spain. Two large Spanish financial institutions, BSCH and La Caixa, continue to undertake activities of industrial banking in 2006, but this activity is significantly reduced in 2012. According to the theories on the role of the interlocking directorates, the companies in these sectors assure their access to banking credit by incorporating advisors from financial organizations to their board of directors. We cannot conclude that the structure of the Spanish corporate network has become a new case of Anglo-Saxon structure, but we got indications that are becoming less hierarchic as banks seem to slowly abandon centrality positions. This is especially salient if we compare the networks of 2006 and 2012, which show a continuing decrease of the role of banks and insurance companies in the network.

Evolving corporate entrepreneurship strategy: Technology incubation at Philips

Established firms tend to pursue incremental innovation by modifying and refining their existing products and processes rather than developing radical innovations. In the face of resistance to change and incumbent inertia, which prevent the generation of novelty, established firms have turned towards corporate entrepreneurship as a means of exploiting knowledge accumulated within its own boundaries and exploring external markets. This paper focuses on one mode of corporate entrepreneurship, corporate incubation, informed by a study of a Technology Incubator at Philips. An account of the history of the incubator traces its progress from its inception in 2002-2006 when further incubators were formed, building on this experience and focusing on lifestyle and healthcare technologies. We identify ways in which the Philips incubator represents an alternative selection environment that effectively simulated the venture capitalist model of entrepreneurial innovation. © 2009 Blackwell Publishing Ltd.

Trial by market: the Brightstar incubation experiment

Established firms accumulate a significant body of knowledge, expertise and capabilities that are often secondary to their central revenue generating activities. How do they leverage this expertise in non-core technology into future value creation opportunities? In this paper we examine an attempt by the telecommunications firm BT to create value from the accumulated knowledge within its laboratories by setting up an incubator. While conceived by the board as a mechanism for leveraging the value of non-core technology into the workplace, corporate support for the incubator was withdrawn after only three years and prompted the incubator to partner with a venture capital firm, NVP, in the spin-out of ventures. Through analysis of this single case we observe how entering into such a relationship reduces the transaction costs of accessing complementary resources, capabilities and competences, while simultaneously reducing a number of the risks associated with venturing for both parties. Partnering with the venture capitalist allows the established firm to get its intellectual property into the market, for it to be tested by the market and further developed. © 2010 Inderscience Enterprises Ltd.