Person: Castro, Julio de
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Julio de
Last Name
Castro
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IE University
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IE Business School
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Entrepreneurship
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Publication How Long Does It Take to Get to the Learning Curve?(Academy of Management, 2020-02-01) Musaji, Serghei; Schulze, William; Castro, Julio de; https://ror.org/02jjdwm75The learning curve describes learning from experience, even in its earliest phases, as an iterative process in which the ratio of positive to negative outcomes rises sharply with experience before becoming subject to diminishing returns. In contrast, the organizational learning literature suggests that learning when experience is limited is difficult, and unfavorable outcomes are common. Resolution of these competing claims is especially important in the context of strategic decision-making, where the costs of unreliable learning are significant. We develop theory and draw on a unique dataset of strategic decisions – the selection of franchisee applicants by a large global remittances firm over a 14-year period – to test competing predictions about how long it takes to “get to” the learning curve: that is, to the point after which performance trends reliably positive. Results from 3,620 selection decisions in 165 markets indicate that it took this organization about 19 decisions to reach the learning curve. Further, we identify factors that reduce the cost of reaching the learning curve, as well as the number of decisions required to reach it. Implications for organizational learning theory in general and strategic decision-making in particular are explored.Publication Catch Up with the Good and Stay Away from the Bad: CEO Decisions on the Appointment of Chief Sustainability Officers(Wiley, 2023-05-03) Wang, Taiyuan; Fu, Yingzhu; Rui, Oliver; Castro, Julio de; Agencia Estatal de Investigación; https://ror.org/02jjdwm75Why do some chief executive officers (CEOs) appoint chief sustainability officers (CSOs) for their firms while others do not? We answer this question by examining CEOs' attention allocation to competition for stakeholders' approval, which can be triggered by both industry peers' corporate social responsibility (CSR) and corporate social irresponsibility (CSiR). An increase in peers' CSR triggers CEOs' attention allocation by observing that peers have improved and thus pose a competitive threat to their own firms. An increase in peers' CSiR triggers CEOs' attention allocation by perceiving that stakeholders will demand more for sustainability and thus place higher sanctions on their own firms in the future. CEOs' attention allocated to industry peers' CSR and CSiR, in turn, can increase their perceived importance and urgency of appointing CSOs for their firms to ‘catch up with the good’ (responsible peers) and to ‘stay away from the bad’ (irresponsible peers). We also theorize the moderating roles of CEOs' motivational attributes, such that predominantly prevention-focused CEOs are more (less) likely to appoint CSOs as peers increase CSR (CSiR), and future-oriented CEOs are more (less) likely to appoint CSOs as peers increase CSiR (CSR).Publication Theorizing the Grey Area between Legitimacy and Illegitimacy(2023) Siraz, Sonia ; Claes, Björn; Castro, Julio de; Vaara, Eero; Castro, Julio de; Agencia Estatal de Investigación; https://ror.org/02jjdwm75Despite a proliferation of research on legitimacy,the ‘grey area’ that lies between legitimacy and illegitimacy remains undertheorized. Responding to calls for further research,we clarify the construct of legitimacy and extend legitimacy theory by providing a conceptual framework for analyzing the legitimacy-illegitimacy continuum. First,we propose three novel legitimacy states between legitimacy and illegitimacy – conditional legitimacy,unknown legitimacy,and conditional illegitimacy – and elaborate on the distinct qualitative characteristics of the five legitimacy states. Second,we offer a model of the dynamics of legitimacy state change and the (in)stability of the issue-specific reference framework that is used to judge them. Third,we explain how our legitimacy states bridge the research streams on legitimacy judgment formation and legitimation strategies. By doing so,we integrate these research streams and enumerate discursive strategies for each state. Our article contributes to a more robust understanding of both how legitimacy states can be conceptualized and analyzed in future research and how they can be dealt with in managerial practice. © 2022 The Authors. Journal of Management Studies published by Society for the Advancement of Management Studies and John Wiley & Sons Ltd.Publication What is the quack about? Legitimation strategies and their perceived appropriateness in the foie gras industry(2024) Claes, Björn; Siraz, Sonia ; Castro, Julio de; Lapeyre, Eléanor Maéva; Castro, Julio de; https://ror.org/02jjdwm75This study contributes to the legitimacy literature by investigating the perceived appropriateness of legitimation strategies used by controversial organizations. Through a mixed-method approach comprising interviews and conjoint experiments,we shed light on how evaluators perceive the appropriateness of five legitimation strategies used by the foie gras industry in France and how evaluators' environmentalism and media skepticism influence their perceptions. Some strategies favored by the industry are perceived as inappropriate by evaluators and thus may obstruct or,worse,counter the intended goal of legitimacy enhancement. Moreover,we observe that evaluators' high environmentalism and high media skepticism affect the perceived appropriateness of the strategies,albeit not of all five. Evaluators with high media skepticism favor explanation discourses and strategies that establish a common identity of the industry. Evaluators with high environmentalism favor the use of recognizable quality standards and labels,yet they are wary of high levels of organization through structured representation of industry interests. © 2024 The Authors. European Management Review published by John Wiley & Sons Ltd on behalf of European Academy of Management (EURAM).Publication La Legitimidad Empresarial Como Un Intangible. Un Análisis En El Contexto De Industrias Controversiales(2019) Castro, Julio de; Siraz, Sonia; https://ror.org/02jjdwm75Una revisión de la literatura permite identificar las dimensiones que afectan la legitimidad socio-política de las “industrias controvertidas”, que son aquellas relacionadas con productos, conceptos o servicios que, por razones de decencia, delicadeza, moralidad, o miedo, causan sensaciones de disgusto, ofensa, o rabia cuando se las menciona o presenta de una manera abierta. Dichas dimensiones se refieren al bienestar animal, bienestar del medio ambiente, bienestar humano, bienestar moral, protección de la herencia cultural y bienestar socio económico. Con esta clasificación y sus ejemplos se pretende un mejor examen de los determinantes de legitimidad en industrias controvertidas, lo que resulta un área de gran interés para la investigación de activos intangibles.Publication Entry of Providers Onto a Sharing Economy Platform: Macro-Level Factors and Social Interaction(SAGE Publications, 2020-02-11) Gerwe, Oskana; Silva, Rosario; Castro, Julio de; https://ror.org/02jjdwm75Despite the recent proliferation of sharing economy platforms, little is known about what drives providers (individual people who own assets) to enter onto a sharing economy platform. The platform does not own the assets that underlie transactions but depends on individuals to provide them. In the burgeoning market of home rental properties, we investigate the role of macro-level factors to explain geographical differences in the number of entries of providers with diverse motivations onto a sharing economy platform. Using a sample of listings posted by property owners on the Airbnb platform across different cities in Spain between 2010 and 2015, we examine how social and economic motivations of providers interact with macro-level antecedents to affect their entry. We show that macro-level drivers have a different effect on the entry of providers depending on the degree of face-to-face interaction between host and guest. We find that industry growth and the availability of underused assets increase the entry onto the platform of hosts who have little face-to-face interaction with guests, while the strictness of regulation decreases their entry. By contrast, the entry of hosts with high face-to-face interaction with guests is not affected by these factors. We discuss theoretical and research implications of the role of social interaction in provider entry and offer practical advice for those in the sharing economy about the role of social interaction in driving providers onto their platforms. The research reported in this paper was partially funded by the Spanish Ministry of Economy and Competitiveness and European Regional Development Fund (ERDF) Grant ECO2016-77205-P.Publication Breaking down the decision to externalise new corporate ventures(Taylor & Francis, 2018-10-08) Castro, Julio de; Palacios Florencio, Beatriz; Galán González, José Luis; Pizarro Moreno, María Isabel; https://ror.org/02jjdwm75Companies are faced with the problem of balancing autonomy and control of new corporate ventures created within the organisation. Utilising both transaction-cost and resource-based theories, we analyse what issues drive managers when making the decision of internalising or spinning off a Corporate Venturing (CV). Our results indicate that the primary drivers of such strategic decisions are near-term profitability, the risks involved and synergies with the firm. Our results indicate that rather than the potential of the venture in itself, the main driver of decisions are the potentials benefits and/or damage that CV could cause to the parent firm.