Archive for 6 December 2006
John Chapman at AEI
| Peter Klein |
Kudos to my former PhD student John Chapman for landing a prestigious National Research Initiative Fellowship with the American Enterprise Institute. John is working on a book with Glenn Hubbard (official link; fun link) on the history and economic impact of the US private equity sector. For more information about the project contact John.
The October Issue of the AMJ
| Nicolai Foss |
The October issue of the Academy of Management Journal is the best in a very long time. It contains at least three articles that 1) are excellent and 2) should be of direct interest to O&M readers. They are:
- Rekha Krishnan, Xavier Martin and Niels G Noorderhaven. “When Does Trust Matter to Alliance Performance?”. One of the few empirical studies that takes seriously the Williamsonian distinction between behavioral uncertainty and environmental uncertainty.
- Kyle J Mayer and Robert M Salomon. “Capabilities, Contractual Hazards and Governance: Integrating Resource-based and Transaction Cost Perspectives” (WP version here). The latest paper in a small but expanding literature that empirically integrates TCE and RBV. Argues that strong internal technological capabilities may ease outsourcing.
- Stephen J Carson, Anoop Madhok, and Tao Wu. “Uncertainty, Opportunism, and Governance: The Effects of Volatility and Ambiguity on Formal and Relational Contracting.” Clearly distinguishes between the effects of ambiguity and the effects of volatility on opportunism, and compares the effectiveness of relational and contractual governance with respect to constraining opportunism under these two situations. Interesting that Madhok seems to be coming full circle round to TCE.
How Long Is Long, and How Short Is Short?
| Lasse Lien |
Are spells of market leadership long or short? A Chandlerian will argue that they tend to be long, while a Schumpeterian will argue that they tend to be short. But what is long and what is short? This is a special case of a fairly frequent problem in empirical research, in which the ability to decide is limited by the lack of a clear benchmark. In a forthcoming AER paper John Sutton addresses this problem in a way that seems potentially useful in many situations with similar characteristics (testing the RBV is but one example).
What Sutton does is define a benchmark which is neither long or short. How? Essentially he compares the length of actual market leadership spells to what one would expect if market share changes followed a random walk (given the initial market share gap and a measure of the industry specific volatility in market shares). This benchmark is neither long or short in the (more…)
Another Irritating Practice
| Nicolai Foss |
OK — here I go again: Another jeremiad related to the institutions of publishing in the learned journals (for other O&M jeremiads on this subject, see here, here, here, here, and here).
Recently, I received a paper from two very bright assistant professors at one of the top Euro BSchools. They happily informed me that their paper had now been accepted for a top journal, and that, knowing that I took an interest in the issues that the paper dealt with, they were happy to forward the accepted paper to me. (more…)
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