Crowdfunding Success Through Social Media: Going Beyond Entrepreneurial Orientation in the Context of Small and Medium-Sized Enterprises

This study examines how entrepreneurial orientation (EO) works through firm managers’ perceived contribution of social media (CSM) and influences crowdfunding success in the context of pre-existing Small and Medium-sized Enterprises (SMEs). As a construct, EO has evolved over the last three decades. We build on recent conceptualizations where it is posited as a behavioral construct that motivates directed actions. We propose that EO fosters actions and routines that predict crowdfunding campaign success, and that this relationship is mediated by the perceived contribution of social media to a firm\u27s campaign success. To test these assertions, we surveyed professionals from 322 firms who had conducted crowdfunding campaigns. We created and validated our own 7-item scale for crowdfunding success where we used pre-existing scales for EO and CSM to test our assertions. We found that the CSM mediates the relationship between EO and crowdfunding success (CFS). These findings contribute to the literature on strategic entrepreneurship, innovation, and media strategy

Unpacking the Antecedents of Crowdfunding Campaign\u27s Success: The Effects of Social Media and Innovation Orientation

We applied a capabilities view as the theoretical underpinning to investigate the integrative role of orientation (IO) and the strategic use of social media (SSM) on a firm’s crowdfunding campaign success (CFS). We suggest that IO promotes a firm’s ability to succeed with crowdfunding campaigns, and that this relationship is mediated by the SSM. To check our contentions, we surveyed professionals from 322 firms that conducted crowdfunding campaigns. For IO and SSM, we used preexisting scales, while for CFS we created and validated our own seven‐item scale. We found that IO alone does not fully account for CFS, but rather its effect is based on a firm’s ability to SSM. Our findings contribute to the literature on strategic entrepreneurship, media strategy, and public policy

The influence of R&D investment on the use of corporate venture capital: An industry-level analysis

We consider how internal research and development (R&D) influences the use of corporate venture capital (CVC) and how this relationship varies across industries. We find that, in general, R&D investments increase the number of CVC deals in an industry. We also find that R&D investment has a particularly strong influence on the use of CVC in industries that are growing rapidly and changing technologically. Our analysis provides greater clarity on the relationships involving R&D and CVC in the presence of contingencies by integrating insights of absorptive capacity and real options reasoning.Absorptive capacity R& D Options CVC Exploration

Exploring Value Cocreation in Relationships Between an ERP Vendor and its Partners: A Revelatory Case Study

Contemporary business organizations are increasingly turning their attention to jointly creating value with a variety of stakeholders, such as individual customers and other business organizations. However, a review of the literature reveals that very few studies have systematically examined value cocreation within business-to-business (B2B) contexts. Using a revelatory case study of the relationship between an ERP vendor with a global reputation and its partners, and informed by the resource-based view of the firm and related theoretical perspectives, we develop an understanding of value cocreation in B2B alliances associated with selling, extending, and implementing packaged software, specifically ERP systems. Our study reveals that there are different mechanisms underlying value cocreation within B2B alliances, and also points to several categories of contingency factors that influence these mechanisms. In addition to providing insights about the phenomenon of cocreation itself, the study contributes to the stream of packaged software literature, where the implications of value cocreation in alliances between packaged software vendors and their partners for the client organizations have not been sufficiently explored

Exploring the Innovation Strategies of Young Firms: Corporate Venture Capital and Venture Capital Impact on Alliance Innovation Strategy

We investigate how governance structure and power influence alliance exploration strategy. Adopting a real options perspective and the agency view, we suggest that innovation strategies differ based on the firm\u27s governance authority. We find that the motivations of corporate venture capitalist firms, venture capitalists, and firm founders may have an impact on the formation of exploratory alliances among adolescent firms. Using a sample of 122 adolescent firms, we examine the influence that governance structure has on the firm\u27s alliance portfolio and innovation potential. While the influence of corporate venture capitalist firms alone do affect alliance formation strategy, corporate venture-backed firms with founders having high influence (knowledge or ownership in the firm) are more likely to form innovation-focused alliances. In contrast, venture capitalist-backed firms tend to avoid innovation-focused alliances, preferring more exploitive ones, even when founders have high influence within the firm

Value Destruction in Information Technology Ecosystems : A Mixed-Method Investigation with Interpretive Case Study and Analytical Modeling

Many of today’s software systems are created by leveraging ecosystems consisting of heterogeneous “complementors” and “hub” firms. In fact, the reliance on ecosystems is prevalent in the enterprise resource planning (ERP) domain, where larger ERP vendors form collaborative relationships with smaller industry-specific vendors to co-create value for themselves and their customers. However, value creation and destruction processes are often intertwined. A key motivation for this study is to shed light on the behavioral contingencies and underlying mechanisms that might lead to value destruction over time instead of the initially intended value co-creation. Furthermore, although value co-creation in collaborative relationships associated with ecosystems is often highlighted, research has been scarce on offering an in-depth analysis of the challenges in these relationships that can destroy value. This study attempts to address this issue by uncovering the underlying mechanisms that lead a hub firm and its complementors toward value destruction. Our mixed-methods approach involves the use of a combination of interpretive case study and analytical modeling to highlight nuances and develop conceptual propositions about the conditions that can potentially lead to value destruction. Our context is a globally reputed information technology (IT) firm known for providing business solutions (SOFTCo, a pseudonym) and numerous relatively small, less powerful customer-facing service firms (PartnerCos, a pseudonym). Our findings show that opportunism, unjust appropriation of rents, shirking, exploitation of asymmetric power, and undue dependence can initiate a value destruction process. Furthermore, our study revealed an unexpected emergence of a “pack of wolves,” where resentful PartnerCos formed a collective to tackle the opportunistic behaviors of SOFTCo by starting to align with its competitor, further destroying value for SOFTCo’s ecosystem. Overall, this study contributes to the literature on value co-creation/destruction in IT ecosystems. It also offers an illustration of a mixed-methods study where seemingly incommensurable approaches are harnessed to develop a theoretical understanding