Author Archive

Estimating the Value of Creative Invention

| Chihmao Hsieh |

One final bit of shameless self-promotion, as I soon head off into the figurative sunset from all this blogging: an empirically-oriented working paper of mine entitled “The Identification of Opportunities and the Value of Invention” can now be found here at SSRN. Any comments or suggestions are absolutely welcomed! Description of the research lies below. (more…)

29 June 2007 at 3:43 am Leave a comment

“Made in China”: The Name of a Creative Firm

| Chihmao Hsieh |

Today I received in the mail a sample issue of Fast Company. The cover story — full-text version found here — describes a China that is dramatically shifting from a country of copycat and imitation to a country of creativity and inventiveness. While its education system “does little to inspire,” and both government censorship and a very weak IPR policy do little to help support creativity, China’s younger citizens (e.g., aged 15-35) are finding and institutionalizing platforms to make themselves heard. And yes, the article mentions a London-based creative agency named “Made In China.”

29 June 2007 at 2:31 am Leave a comment

No, Innovation is Not Overrated

| Chihmao Hsieh |

This is posted in response to the book commentary within Peter’s post. If the indented synopsis indeed captures the book’s main thesis, it might be “concise and elegant,” and “provocative” to a person crawling out from underneath prehistoric rock, but suffice it to say it’s about as far from innovative (hmm, how ironic) as it gets. Some might call it the result of being direly underinformed.

What’s technological innovation for? Aside from a few exceptions, and aside from nuances introduced by incentives, technological innovation serves to support and appeal to our physical well-being,* emotional well-being, and psychological well-being in the context of a (limited) 70-100+ yr life span. Full stop. (So O&M founder Nicolai Foss has been passing around a thought-provoking working paper addressing the nature of opportunities, one example cited therein describing the technology of the barbed wire fence. Is the barbed wire fence an invention that appeals to those three sources of well-being? Not directly, it seems. But it is elementary to conclude that its absence would reduce our capability to feed ourselves, which does support physical well-being.) (more…)

25 June 2007 at 9:45 am 3 comments

Group-based Anti-Feng Shui?

| Chihmao Hsieh |

I’ve got a dream of building a house sometime in the next several years. Not for the matter of pride, but because around my 40’s I’d like a bona fide party house. I thought one key would be to have a loft-like open-air layout.

Then I read this post on Dr. Keith Sawyer’s blog about The Building that ‘Threw Up on Itself.’ (more…)

23 June 2007 at 3:32 pm 1 comment

How to Get 19380+ People to Read Your Academic Work? The “F-Bomb” Constitutes Your Entire Title

| Chihmao Hsieh |

I got an auto-generated email early this morning telling me that some research I co-authored with Todd Zenger and Jackson Nickerson made one of the SSRN Top 10 downloaded lists (presumably Top 10 over the last 30 days?), apparently from the Entrepreneurship section of the website. So I’m searching around SSRN trying to find out where in the Top 10 this research landed, and that’s when I inadvertently found a very different, very unfamiliar research paper at the end of this “Top 10 All-Time Downloaded” list.

I hit the “Refresh” button and rubbed my eyes to make sure I wasn’t hallucinating. I don’t anticipate reading the manuscript, but I could see from the abstract that it is likely provocative. (more…)

22 June 2007 at 5:19 am 5 comments

Entrepreneurs are Both Born and Made, in the Interactional Sense

| Chihmao Hsieh |

Well, I’ve coddled this paper long enough, perhaps I should begin to set it free amidst that bit of shameless self-promotion. In a manuscript entitled “Cognition and the interaction between traits and training: the entrepreneur is both born and made,” I argue and provide evidence that an individual’s intelligence and the mode by which they train in multiple domains interact to determine the probability of self-employment. Not yet inclined to throw this up on SSRN just yet, but certainly happy to forward along a copy to interested parties (in hopes of receiving comments!). Just email me at hsiehc at umr dot edu… Below is the long abstract. (more…)

17 June 2007 at 5:22 pm 2 comments

Naming a Nation: Will the Real Wu-Tang Clan Please Stand Up?

| Chihmao Hsieh |

In the USA, the “Wu-Tang clan” refers to a family of Grammy-award-winning rappers formed in the 1990’s. In China, it’s about to refer to, well, just a normal family.

As described in this news report released yesterday by the AFP, today China has roughly 1.3 billion people, and 85% of them are covered by a mere 100 surnames. Ninety-three million people share the surname Wang, while 92 million are called Li and 88 million call themselves Zhang. For comparison, the 2007 estimated population in the United States totals 301 million. (You do the math!) And, as might be expected, the lack of variety in surnames is causing undue confusion in China (kind of like this?).

Thus, according to a recent report by the China Daily as mentioned in that news report, “under a new draft regulation released by the ministry of public security, parents will be able to combine their surnames for their children, a move that could open up 1.28 million new possibilities. (more…)

13 June 2007 at 2:01 am 1 comment

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Our Recent Books

Nicolai J. Foss and Peter G. Klein, Organizing Entrepreneurial Judgment: A New Approach to the Firm (Cambridge University Press, 2012).
Peter G. Klein and Micheal E. Sykuta, eds., The Elgar Companion to Transaction Cost Economics (Edward Elgar, 2010).
Peter G. Klein, The Capitalist and the Entrepreneur: Essays on Organizations and Markets (Mises Institute, 2010).
Richard N. Langlois, The Dynamics of Industrial Capitalism: Schumpeter, Chandler, and the New Economy (Routledge, 2007).
Nicolai J. Foss, Strategy, Economic Organization, and the Knowledge Economy: The Coordination of Firms and Resources (Oxford University Press, 2005).
Raghu Garud, Arun Kumaraswamy, and Richard N. Langlois, eds., Managing in the Modular Age: Architectures, Networks and Organizations (Blackwell, 2003).
Nicolai J. Foss and Peter G. Klein, eds., Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization (Elgar, 2002).
Nicolai J. Foss and Volker Mahnke, eds., Competence, Governance, and Entrepreneurship: Advances in Economic Strategy Research (Oxford, 2000).
Nicolai J. Foss and Paul L. Robertson, eds., Resources, Technology, and Strategy: Explorations in the Resource-based Perspective (Routledge, 2000).