Entrepreneurial Orientation In Management Buy-Outs And The Contribution Of Venture Capital

This paper focuses on the development of entrepreneurial orientation (EO)after a management buy-out (MBO) and on the role played by venture capitalfirms in enhancing EO. It presents results of two exploratory case studiesof divisional buy-outs with regard to their EO and the areas where theventure capital firm (VC) has been of greatest help. We discuss theircontribution to elements of the EO of the buy-out firm. The key output isexpected to be a better understanding of the functioning and operations ofthe VC with regard to their contribution to the EO of the firm after an MBO.This will also benefit the management team that seeks venture capitalsupport to improve the firm?s economic performance by using its upsidepotential.governance;venture capital;entrepreneurial orientation;management buy-outs

Successful management buyouts: Are they really more entrepreneurial?

The paper explores the impact of entrepreneurial management dimensions on post-MBO financial performance. We use Stevenson’s conceptualization of entrepreneurship (1983), empirically validated by Brown, Davidsson and Wiklund (2001), positing that entrepreneurial companies will be involved in recognizing and exploiting opportunity, regardless of the resources controlled. From the literature we hypothesize positive effects of entrepreneurial management dimensions on post-MBO financial performance. We find that successful buyout managers cannot be classified as entrepreneurs on all entrepreneurial dimensions. Instead they ambidextrously combine the pursuit of valuable opportunities with the exploitation and control of their resources. Implications for theory and managerial practice are discussed.Entrepreneurial Management;Financial Performance;Management Buyouts

Interrogating the Founding Gestures of the New Materialism

In this article, I aim to further thinking in the broadly ‘new materialist’ field by insisting it attends to some ubiquitous assumptions. More specifically, I critically interrogate what Sara Ahmed has termed ‘the founding gestures of the “new materialism”’. These founding rhetorical gestures revolve around a perceived neglect of the matter of materiality in ‘postmodernism’ and ‘poststructuralism’ and are meant to pave the way for new materialism’s own conception of matter-in/of-the-world. I argue in this article that an engagement with the postmodern critique of language as constitutive, as well as the poststructuralist critique of pure self-presence, does not warrant these founding gestures to be so uncritically rehearsed. Moreover, I demonstrate that texts which rely on these gestures, or at least the ones I discuss in this article, are not only founded on a misrepresentation of postmodern and poststructuralist thought, but are also guilty of repeating the perceived mistakes of which they are critical, such as upholding the language/matter dichotomy. I discuss a small selection of texts that make use of those popular rhetorical gestures to juxtapose the past that is invoked with a more nuanced reading of that past. My contention is that if ‘the founding gestures of the “new materialism”’ are not addressed, the complexity of the postmodern and poststructuralist positions continues to be obscured, with damaging consequences for the further development of the emerging field of new materialism, as well as our understanding of cultural theory’s past

Modeling Micro-Porous Surfaces for Secondary Electron Emission Control to Suppress Multipactor

This work seeks to understand how the topography of a surface can be engineered to control secondary electron emission (SEE) for multipactor suppression. Two unique, semi-empirical models for the secondary electron yield (SEY) of a micro-porous surface are derived and compared. The first model is based on a two-dimensional (2D) pore geometry. The second model is based on a three-dimensional (3D) pore geometry. The SEY of both models is shown to depend on two categories of surface parameters: chemistry and topography. An important parameter in these models is the probability of electron emissions to escape the surface pores. This probability is shown by both models to depend exclusively on the aspect ratio of the pore (the ratio of the pore height to the pore diameter). The increased accuracy of the 3D model (compared to the 2D model) results in lower electron escape probabilities with the greatest reductions occurring for aspect ratios less than two. In order to validate these models, a variety of micro-porous gold surfaces were designed and fabricated using photolithography and electroplating processes. The use of an additive metal-deposition process (instead of the more commonly used subtractive metal-etch process) provided geometrically ideal pores which were necessary to accurately assess the 2D and 3D models. Comparison of the experimentally measured SEY data with model predictions from both the 2D and 3D models illustrates the improved accuracy of the 3D model. For a micro-porous gold surface consisting of pores with aspect ratios of two and a 50% pore density, the 3D model predicts that the maximum total SEY will be one. This provides optimal engineered surface design objectives to pursue for multipactor suppression using gold surfaces