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Creating and Capturing Value in Public-Private Ties: A Private Actor's Perspective
TL;DR: The authors identify the value creation and capture mechanisms embedded in these ties through a theoretical framework of two conceptual public-private structural alternatives, each associated with different value-creating capacities, rationales, and outcomes.
Abstract: Intersecting the boundaries of public and private economic activity, public-private ties carry important organizational strategy, management, and policy implications. We identify the value creation and capture mechanisms embedded in these ties through a theoretical framework of two conceptual public-private structural alternatives, each associated with different value-creating capacities, rationales, and outcomes. Two important restraints on private value capture--public partner opportunism and external stakeholder activism--arise asymmetrically under each form, carrying a critical effect on partnership outcomes.
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TL;DR: In this article, the authors employed a systematic procedure to review the literature on universities-industry collaboration (UIC) and identified five key aspects, which underpinned the theory of UIC.
Abstract: The collaboration between universities and the industry is increasingly perceived as a vehicle to enhance innovation through knowledge exchange. This is evident by a significant increase in studies that investigate the topic from different perspectives. However, this body of knowledge is still described as fragmented and lacks efficient comprehensive view. To address this gap, we employed a systematic procedure to review the literature on universities-industry collaboration (UIC). The review resulted in identifying five key aspects, which underpinned the theory of UIC. We integrate these key aspects into an overarching process framework, which together with the review, provide a substantial contribution by creating an integrated analysis of the state of literature concerning this phenomenon. Several research avenues are reported as distilled from the analysis.
495 citations
TL;DR: In this article, the authors argue that the time is ripe to rethink academic entrepreneurship and that more stakeholders have become involved in academic entrepreneurship, and that universities have become more strategic in their approach to this activity.
Abstract: Academic entrepreneurship, which refers to efforts undertaken by universities to promote commercialization on campus and in surrounding regions of the university, has changed dramatically in recent years. Two key consequences of this change are that more stakeholders have become involved in academic entrepreneurship and that universities have become more ‘strategic’ in their approach to this activity. The authors assert that the time is ripe to rethink academic entrepreneurship. Specifically, theoretical and empirical research on academic entrepreneurship needs to take account of these changes, so as to improve the rigour and relevance of future studies on this topic. We outline such a framework and provide examples of key research questions that need to be addressed to broaden understanding of academic entrepreneurship.
408 citations
TL;DR: This study analyzes over 1400 publications from a wide range of disciplines over a 20-year time period and synthesizes formerly dispersed research perspectives into a comprehensive multi-dimensional framework of public-private partnerships.
348 citations
01 Jun 1996
TL;DR: A review of the literature on Pareto-optimal allocation of public goods can be found in this paper, where the authors focus on the problem of finding the optimal level of provision of a public good without any explicit assumption concerning the distribution of private goods and hence of utility.
Abstract: The systematic tendency toward underprovision of a public good that seems to be implied by the model of Nash-Cournot equilibrium has encouraged extensive analysis of alternative allocative mechanisms and their evaluation against the yardstick provided by the set of Pareto-efficient allocations. The aim of this chapter, which is necessarily highly selective, is to review some of this large and varied literature. We begin with a closer look at the set of Pareto-efficient, or Paretooptimal, allocations. Pareto-optimal provision of public goods In the public goods economy, just as in its private goods counterpart, the optimality criterion typically identifies not one, but an infinite number of allocations – all the points on the utility possibilities frontier between R and S in Figure 7.1. Any discussion of “the optimum” must presuppose either a very special structure, so that there is, indeed, a single optimal level of Q associated with every allocation along the frontier RS , or else the introduction of some kind of social welfare function that enables us to rank optima and pick out the optimum optimorum. Economists have, however, often expressed and relied upon the hope that certain allocation decisions can be made without reference to distributional considerations. In the present context, this is reflected in many treatments that refer to the optimal level of provision of a public good without any explicit assumption concerning the distribution of private goods and hence of utility.
282 citations
TL;DR: In this paper, a holistic business model framework is developed, which is then used to analyse the empirical evidence from the creative industries, and three new themes for future research are highlighted.
262 citations
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TL;DR: In this article, the authors explore how activism influences corporate social change activities and argue that ideological differences among activist groups motivate them to choose different influence tactics to support their claims, leading to field-level change.
Abstract: Using insights from the social movement literature and institutional change theory, we explore how activism influences corporate social change activities. As the responsibility for addressing a variety of social issues is transferred from the state to the private sector, activist groups increasingly challenge firms to take up such issues, seeking to influence the nature and level of corporate social change activities. Eventually, they aim to bring about field-level change. We argue that ideological differences among activist groups motivate them to choose different influence tactics to support their claims.
615 citations
01 Jan 2010
TL;DR: In this article, the authors explore how activism influences corporate social change activities and argue that ideological differences among activist groups motivate them to choose different influence tactics to support their claims, leading to field-level change.
Abstract: Using insights from the social movement literature and institutional change theory, we explore how activism influences corporate social change activities. As the responsibility for addressing a variety of social issues is transferred from the state to the private sector, activist groups increasingly challenge firms to take up such issues, seeking to influence the nature and level of corporate social change activities. Eventually, they aim to bring about field-level change. We argue that ideological differences among activist groups motivate them to choose different influence tactics to support their claims.
614 citations
TL;DR: The authors make the case for a triangular alignment between the triumvirate of governance structure, transaction, and resource attributes and demonstrate how the identity and strategy of a particular firm influences how its resources interact with the transaction and how the firm chooses to govern it.
Abstract: In this paper, three points are argued. The first is that Ronald Coase, best known as the forefather of transaction cost theory, foresaw many of the critical questions that proponents of the resource-based view are concerned with today. The second is that resource-based theory plays a potentially much more critical role in economic theory and in explaining the institutional structure of production than even many resource-based scholars recognize. The last point is that a more complete understanding of the organization of economic activity requires a greater sensitivity to the interdependence of production and exchange relations. The arguments presented in this paper highlight important, but relatively ignored, elements in Coase's work that inform strategy research. More importantly, this paper makes the case for a triangular alignment between the triumvirate of governance structure, transaction, and resource attributes and demonstrates how the identity and strategy of a particular firm influences how its resources interact with the transaction and how the firm chooses to govern it. The general argument is then applied to the context of interfirm collaborative relations, where the key focus is broadened from just cost to also include skills/knowledge and the interdependence between cost and skills with respect to firm boundaries, both in terms of choice and nature. Such a broadening of focus enables us to additionally examine the transacting process as a productive endeavor, which underpins the co-evolution of the competencies of partner firms. Copyright © 2002 John Wiley & Sons, Ltd.
611 citations
TL;DR: This paper builds upon and advances Mitchell, Agle, and Wood's stakeholder saliency and identification framework by defining saliency in terms of actions, not perceptions, and proposing that power, legitimacy, and urgency arise out of the nature of stakeholder–request–firm triplets.
Abstract: In this paper, we explore the conditions under which secondary stakeholder groups are likely to elicit positive firm responses. To this end, we build upon and advance Mitchell, Agle, and Wood's (1997) stakeholder saliency and identification framework by defining saliency in terms of actions, not perceptions, and by proposing that power, legitimacy, and urgency arise out of the nature of stakeholder–request–firm triplets. To test this framework, we build a unique dataset of over 600 secondary stakeholder actions within the United States, all concerning environmental issues over the period 1971–2003. Copyright © 2006 John Wiley & Sons, Ltd.
591 citations
TL;DR: In this article, the authors examined the effectiveness of contractual and relational governance in constraining opportunism under volatility and ambiguity and found that relational contracts are robust to volatility but not ambiguity, whereas formal contracts will be robust to ambiguity but not volatility.
Abstract: Volatility and ambiguity are generally thought to create exchange situations more conducive towards opportunism. We examine the effectiveness of contractual and relational governance in constraining opportunism under volatility and ambiguity. We hypothesize that relational contracts will be robust to volatility but not ambiguity, whereas formal contracts will be robust to ambiguity but not volatility. The hypotheses are supported using data from 125 interorganizational relationships involving R&D for new product development. Our findings suggest that formal and relational contracts each may have advantages and disadvantages relative to the other in specific situations, so that they are not simply substitutes. The results have important implications for transaction cost and relational contracting theory, and challenge the view that relational contracts are not so susceptible to opportunism. A revised comparative governance schema is theorized for future research.
583 citations