Person: Pasquini, Martina
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Martina
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Pasquini
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IE University
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IE Business School
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Strategy
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Publication Leveraging synergies versus resource redeployment: Sales growth and variance in product portfolios of diversified firms(Wiley, 2021-04-02) Pasquini, Martina; Giarratana, Marco; Santaló, Juan; State Research Agency; https://ror.org/02jjdwm75Research Summary This article analyzes the relationship between sales growth and variance for diversified firms. Distinguishing product niches linked by scale free versus non-scale free resources, this study predicts that the more a firm diversifies leveraging on a non-scale free resource, the more likely its sales growth and variance are positively correlated. However, this relationship is negatively moderated by the presence of a scale-free resource such that the presence of scale-free resources of high value implies a negative correlation. These theoretical intuitions are consistent with data from 2008 to 2013, reflecting firm sales growth rates in five industries spanning 45 product niches in seven EU countries and the United Kingdom. These industries prioritize shelf space as a non-scale free resource, and brand as a scale free resource. Managerial Summary Diversifiers may base their value creation either in pursuing synergies or in exploiting the benefits derived by internal resource redeployment across products or across industries. Here, we highlight the different managerial implications on risk/performance structure derived from diversification based on resource redeployment compared to diversified companies exploiting synergies. Can the disparity of sales growth between products of the same firm's portfolio be good for the corporate performance? Here, we show that diversification based on resource redeployment goes hand in hand with a positive relation between overall firm growth and variance of results within the same firm. On the contrary, firm diversification based on synergies implies a negative relationship between within firm disparity and overall firm growth.Publication In User's Shoes: An Experimental Design on the Role of Perspective Taking in Discovering Entrepreneurial Opportunities(Elsevier, 2016-05-01) Prandelli, Emanuela; Verona, Gianmario; Pasquini, Martina; https://ror.org/02jjdwm75Research in entrepreneurship has investigated cognitive traits that in addition to stock of information can spur market opportunities. In this paper we focus on a specific cognitive mechanism: user perspective taking, which means assuming the user’s perspective when approaching a market. We specifically deduce two hypotheses that untangle cognitive processes of user perspective taking in an entrepreneurial setting, highlighting how an entrepreneur can enhance her ability to identify market opportunities by putting herself in the user’s mind. User perspective taking can in fact provide the linking and underlying mechanism to develop not only the needed knowledge about a specific market segment but also the motivation to act-as by entering oneself in users’ minds and being able to figure out how to meet their expectations can increase one’s confidence in one’s actions and intrinsic motivation to find an appropriate solution to the needs of those whose perspective has been shared.To validate our conceptual and anecdotal intuitions, we set up one experimental study. The main results show that user perspective taking actually enhances an entrepreneur’s ability to recognize market opportunities. It also shows that prior knowledge measured as technical expertise of the entrepreneur positively moderates the relationship between user perspective taking and opportunity recognition.Overall, we believe that our study makes three main contributions to entrepreneurship research.First and most important, we suggest that user perspective taking represents a new and powerful cognitive variable. While entrepreneurship studies have begun to highlight cognitive properties that characterize entrepreneurs’ alertness, we suggest that user perspective taking adds an important extra dimension. In particular, taking the user’s perspective can enhance entrepreneurs’ creativity by allowing them to better identify latent user needs and to address user needs by recombining and integrating their previous knowledge. User perspective taking lets entrepreneurs identify market opportunities that are not only more innovative, but also more desirable and aligned with user needs.Second, our study shows, on the one hand, how prior knowledge negatively impacts opportunity identification but, on the other, acts as a positive moderating mechanism in the relationship between user perspective taking and opportunity identification. We show that when entrepreneurs are equipped with coherent cumulated expertise they can better leverage their ability to assume the user’s perspective to understand the user’s problems and find a proper solution. Hence, by introducing the interaction between user perspective taking and prior knowledge, we contribute to shed further light on the relationship between an individual’s prior knowledge and her ability to cognitively process information and identify entrepreneurial opportunities.Third, our work provides a contribution to the user innovation literature. By allowing entrepreneurs to overcome cognitive barriers to knowledge transfer and to discover new market opportunities, user perspective taking may be a fungible way to connect entrepreneurs with users. Entrepreneurs’ propensity to take users’ perspective can enhance their ability to recognize opportunities and their chances to create new ventures that match specific market preferences. The stronger this effect the more user perspective taking is combined with prior entrepreneur’s knowledge.We conclude our contribution by discussing the limitations of our studies and by providing some suggestions for promising avenues for future research in the fields of entrepreneurship, perspective taking and user innovation.Publication What determines university patent commercialization? Empirical evidence on the role of IPR ownership(Taylor & Francis, 2013-09-10) Giuri, Paola; Munari, Federico; Pasquini, Martina; https://ror.org/02jjdwm75This article addresses the commercialization of academic patents, developed in both universities and public research organizations (PROs). We distinguish between university-owned and university- invented patents to analyze if and how patent ownership affects the probability of commercialization and, similarly, if the characteristics of national university intellectual property right (IPR) regimes correlate with it. We study three commercialization channels—sales, licensing, and spin-off formation—appear in a sample of 858 university and PRO patents filed with the European Patent Office between 2003–2005 across 22 countries. To analyze differences in commercialization outcomes, this study employs a multivariate probit model. The results suggest that PRO ownership is negatively associated with the likelihood of selling the patent and creating an academic spin-off; university ownership positively affects the patent’s licensing uses. Finally, the institutional IPR regime has a negative effect on the probability of selling a patent.Publication Product portfolio performance in new foreign markets: The EU trademark dual system(Elsevier, 2018-07-24) Barroso, Alicia; Pasquini, Martina; Giarratana, Marco; European Commission; https://ror.org/02jjdwm75How do intellectual propriety rights (IPRs) help firms profit from their innovation? Innovation literature frequently turns to patents to measure innovative IPR, but more recent work shifts focus to the other side of IPR, namely, trademarks. This article therefore discusses the effects of trademark strategies when companies decide to introduce their product portfolios in a new foreign market. Entrants might opt for a common trademark across different country markets (integration) or use several country-specific trademarks (responsiveness). This empirical study exploits the quasi-natural experiment created by the tariff shock that affected Spain when it joined the European Union in the 1990s. Data from the automotive industry reveal how non-European companies that already operated in other European countries sought to enter Spain rapidly, using various trademark strategies. The product portfolio characteristics are fixed at entry, so this study can specify how and when trademark responsiveness versus integration affects firm performance. The results reveal that trademark responsiveness increases firm performance if the firms suffer high liabilities of foreignness or newness.Publication For Purpose Enterprises and Hybrid Organizational Forms: Implications for Governance and Strategy(2023-09-20) Pasquini, Martina; Giarratana, Marco; https://ror.org/02jjdwm75Nowadays, a company’s social purpose has become a key factor that should be considered in organisational design and strategic decision-making. For-purpose enterprises are for-profit, financially self-sustained organisations, which embed a social aim as one of their main objectives. Companies that simultaneously must envisage a double purpose, namely, social and competitive, face an even greater complexity, i.e., a likely risk of internal logics’ tensions and structural drifts. Scholars have proposed different theoretical and operative frameworks; on the one hand, they describe ad hoc business models to foster synergies between the social impact and economic and competitive-oriented actions. On the other hand, they also try to focus on an organization’s governance, suggesting incentive schemes and organizational designs that could smooth trade-offs and tensions, which could jeopardize a company’s viability. This piece aims at building a comprehensive overview of the studies that, in different fields, have contributed to the understanding of businesses with purposes under different angles. Following Mitnick et al. (2021), scholars have differentiated two clusters of studies: i) instrumental–strategic–economic stream; ii) injunctive–social–behavioural. The first approach perceives as critical the balance between social-oriented aims and profit with a viable business model. Under this perspective, the concept of synergies between the two aims is critical. Its mainstream framework is the stakeholder theory approach, while recent approaches, rooted especially in marketing and strategic human capital studies, bring to the central stage how corporate social responsible actions develop social identity processes with focal stakeholders, which are responsible for reciprocity behaviours. These different perspectives, although complementary, could imply significant differences for the organisation design, product strategy, and the role and power of the chief sustainability officer as well as allocation of resources and capabilities. The second group of studies, i.e., injunctive–social–behavioural, is focused on understanding how to maintain active social aims under economic and competitive constrains. These works are particularly focused in investigating the intrinsic motivations of doing good and the type of tensions that could arise in organizations with a social mission. The works thus analyse the potential drifts, risks, and solutions that could mitigate tension and trade-offs. In this stream, the first line of work is related to social entrepreneurship, especially in developing countries, while the second is more focused on human resource incentive schemes and organizational designs that preserve a company’s social goals under economic constrains. In sum, providing a general and actualized map of the research related to for-purpose enterprises, this article aims to highlight the focal points of investigation that could generate new management theory developments.