Bøger i Innovation und Entrepreneurship serien

The author's findings challenge theories of linguistic relativity, foreign language effects, and cultural accommodation, and enrich the empirical basis for fundamental research on language and behavior.

Michael Moedl examines the impact and signaling effects of crowd-based start-up financing on subsequent venture capital funding rounds.

Individuals and firms can improve their performance through collaboration and competition. Jonas Heite investigates this question by assessing efforts to stimulate R&D collaboration and by examining properties as well as underlying mechanisms (e.g., effort, risk, confidence and stress) of ability configurations in contests.

Thomas von Eggelkraut-Gottanka entwickelt einen fur die Wissenschaft und Praxis grundlegend neuartigen Ansatz, um auf Grundlage von Echtzeit-Positionsdaten potentielle gesprachsbasierte Kommunikation zu erfassen. Im Rahmen einer grozahligen empirischen Analyse befasst er sich mit der Frage, wie sich personenbezogene und raumbezogene Faktoren auf die Kommunikationswahrscheinlichkeit der Untersuchungsteilnehmer auswirken.

Christian Tausend analysiert den Selektionsprozess sowie die Kriterien, die Investoren zur Auswahl von einzelnen VC-Fonds heranziehen. Die Ergebnisse zeigen, dass Investoren vor allem auf die Erfahrung des Management-Teams eines VC-Fonds achten, aber auch die Zusammensetzung des Teams berucksichtigen.

Collective knowledge and the associated concepts of collectively learning, remembering and inventing are increasingly important in today's economy and society. Based on novel data sets which identify founders as inventors on patents and survey data collected from senior management, the author investigates questions about knowledge processing.

Applying novel datasets, Fabian Gassler analyzes how key aspects of the current patent system in Europe and Germany, respectively, affect patent enforcement and patent trade.

Using cooperative game theory, this book shows how bargaining structure affects the distribution of value among the constituent firms of the value chain.

Whenever an economic institution is being transformed, researchers have an unusual opportunity to study causes and effects of the transformation and to test the economic theory related to the institution itself. Over the course of the last decade the global securities exchange industry has undergone such a tremendous change. Stock exchanges have demutualized and have turned into for-profit entities. Securities exchanges play a crucial role in modern market economies. They provide market participants with financial instruments of all sorts, serve as mechanism for price discovery and are an important source for external financing. Despite their important role, research covering the demutualization of stock exchanges has been sparse. Felix Treptow seeks to fill this gap in the literature and presents in this book an in depth analysis of the demutualization phenomenon. In his thesis, he applies advanced econometric methods to data sets which were assem­ bled specifically for the purpose of his analysis. Each of the three self-contained chapters of this volume addresses different issues which are of importance to the various stake­ holders in this process. The analysis covers the micro- and macroeconomic causes of demutualization, its impact on market liquidity and the changing relationship between exchanges and issuers.

Research on the patent system and the analysis of patenting activities have become an important field in economics and l)usin(\ss administration. The global demand for patcuit protection has been increasing strongly over the last decades. Institutional changes as well as the broadening of patentable subject matter pose new challenges to patentees and patent offices alike. Especially in Europe, the debate on the patentabihty of biotechnology and softwa- related inventions led to broad public attention to the design of the patent system. Given these developments, it is no wonder that practitioners as well as policy makers are turning to researchers for answers on how to cope with new challenges threatening the patent system. In his dissertation, Stefan Wagner attempts to answer some of these questions. Wagner apphes advanced econometric methods to large-scale data sets which were assembled specifically for the purpose of this thesis. His analysis focuses on various aspects of patent filings, examination and opposition at the European Patent Office. Each of the four self-contained chapters of this book addresses different issues which are important to all stake-holders of the patent system. Wagner closely analyzes institutional features of the European Patent Office, such as the duration of the examination of patent applications, the determinants of the occurrence of patent oppositions and the patentability of business methods under the European Patent Convention. In his concluding chapter he examines the managerial decision between outsourcing patent-related services to patent attorneys or generating them in-house.

Marc Gruber untersucht die Marketingplanung während der Gründungsvorbereitung. Aufbauend auf einer umfassenden Analyse des Forschungsstands leitet er Hypothesen zum Planungsprozess im Marketing ab, die er anhand multivariater Analysen bei wagniskapitalfinanzierten Unternehmensgründungen überprüft.

Driven by the convergence of international ?nancial public markets, investors around the globe are searching for alternative asset classes which provide diversi?cation of their portfolios while earning attractive returns. Private equity, denominating equity investments in privately held companies, promises to ful?ll both criteria. Over the last three decades, the global private equity industry has experienced an enormous growth. Private equity has become an important ingredient in the portfolios of institutional investors, such as banks, insurance companies and pension funds. Despite its increasing importance, relatively few are known about the characteristics and specialities of private equity. Therefore, practitioners are turning to researchers for systematic information in order to take sound investment decisions. In his dissertation, Ulrich Lossen contributes to this need of information. Lossen applies advanced econometric methods to a unique data set which he assembled speci?cally for the purpose of this thesis. His analysis focuses on the choice of portfolio strategies by private equity ?rms and the impact of this choice on funds¿ performance. His research proceeds in three steps. First, Lossen models the trade-o? between diversi?cation and specialization in private equity funds theoretically. Secondly, he analyzes the in?uence of external factors on the choice of private equity ?rms to diversify their portfolios across di?erent dimensions, such as ?nancing stages, industries, and geographic regions. Finally, he examines the impact of such diversi?cation on private equity funds¿ performance.

Over the last decade, the commercial world has more and more embraced open source software such as the Linux operating system. What started out as an ideological movement for ¿Free Software¿ and as a hobbyists¿ thing has largely turned into a ma- stream part of the IT industry. By 2008, even the long-time open source critic Microsoft has created two open source licenses, and it comes as little surprise when Google - leases the complete mobile operating system stack of its Android phone as open source. Yet, how exactly open source software and in particular the open source style of software development are integrated into commercial enterprises is far from being - derstood. Research into open source software and open innovation more broadly only just starts to address these issues. But these questions are of obvious importance for firms considering to launch or extend their open source engagement, and of academic interest to scholars studying open innovation processes.

The economic importance of entrepreneurs as innovators, drivers of societal change, and contributors to wealth creation is uncontested. Researchers from various disciplines have investigated the process of new firm creation as well as the role of entrepreneurs in that process. In the same fashion, the role of venture capital investors as supporters of entrepreneurs has been widely studied and is reasonably well understood by entrepreneurship scholars today. Rapid firm growth fueled by venture capital investments triggers tremendous dynamics in the development of young firms. However, entrepreneurship - search frequently ascribes a rather static role to the entrepreneur in his start-up company. The phenomenon of founder turnover ¿ a situation in which entrep- neurs decide to leave their initially taken job position ¿ has mostly been - glected in the literature. Moreover, little is known about the frequency, causes and the impact of founder turnover. With the present book, Martin Heibel seeks to fill this gap by analyzing founder turnover in German venture capital backed start-up companies. Martin Heibel develops two unique data sets specifically assembled through an expe- ment and an online survey. His in-depth analyses cover antecedents and p- formance implications of founder turnover. They combine venture capitalists¿ as well as entrepreneurs¿ perspectives on founder turnover, and yield detailed - sights into the interaction between financiers and founders.

Florian Jell empirically investigates the objectives that companies pursue with their patenting activities and presents empirical insights into how patent management is organized within industrial companies. The book concludes with a case study of how a company reacted to its competitor's patenting - which led to a patent arms race.

Carolin Häussler analyzes the following topics: Do inter-firm collaborations increase firm value? Does value enhancement vary according to firm and collaboration characteristics? What determines the allocation of control rights between asymmetrical partners? Does the contractual structure influence the success of collaboration? Is collaboration supporting firm restructuring in times of change?

"Toolkits for User Innovation and Design" sind virtuelle Werkzeuge, die es dem Kunden erlauben, sich ein Produkt nach seinen Wünschen selbst zu entwerfen. Es wird dann vom Hersteller produziert und geliefert. Martin Schreier zeigt, dass sich für den Kunden ein subjektiver Wertzuwachs (gemessen durch Zahlungsbereitschaften) aus folgenden Punkten ergibt: dem erhöhten funktionalen Nutzen durch die verbesserte Anpassung an die individuellen Wünsche, der Befriedigung des Bedürfnisses nach einem individualisierten Produkt, dem Stolz auf die eigene Leistung und dem wahrgenommenen Prozessnutzen.

Philip Mayrhofer compiled individual-level survey data as well as an original panel data set of Facebook applications in order to examine the market for Facebook applications in detail.

Mit einem Geleitwort von Prof. Dr . Nikolaus Franke

With the astounding success of social networking systems such as Facebook, Bebo, LinkedIn, and MySpace, interest in social networks soared amongst researchers and pr- titioners. Organised groups of individuals can be of considerable value to ?rms, but a deeper understanding of the phenomenon is still lacking. User communities are social networks of individuals who group together with the purpose of exchanging ideas, insights and experiences with each other. Although the concept of leveraging user communities for innovation management is not new, most of the literature has assumed the ready existence of user communities and has concentrated on examining how ?rms can cooperate with them. Research on the emergence and persistence of user communities has mostly been neglected. Celine Schulz attempts to ?ll this gap by focussing on why user communities exist, what their goals are and how they function. In her dissertation, Celine Schulz undertakes a study of individuals in user communities of the software ?rm Computer Associates (CA). Using an online survey, a unique data set of users in 161 di?erent CA user groups was assembled. Thisdissertationconsistsofthreeempiricalstudiesbasedonthisdataset. The ?rst two studies analyse why individuals communicate with other members in their user communities, that is why they are willing to share information with each other and how they bene?t from the interaction with their user communities. The third study examines how user communities can be leveraged for ?rms¿ innovation processes, by speci?cally investigating the individual- and group-speci?c attributes of customer collaborators from user communities.

Family firms play an important role in most economies. This fact is due not only to family firms¿ share of overall revenues or jobs, but also because they are commonly assumed to be more long-term oriented than comparable non-family firms. This view, however, is largely based on - amples and case studies, while large-scale quantitative studies are so far missing. In more detail, we have very limited knowledge about how family and non-family firms compare along various - mensions of long-term orientation such as R&D activity, human resource policy, and incentive pay for executives. Furthermore, it is an open question how the hypothesized long-term orientation of family firms depends on the exact definition of this type of firm, in particular on management by family members and on the extent of family ownership. Jörn Block addresses the above questions in this pioneering book. Well-grounded in theory, he develops hypotheses regarding various dimensions of long-term orientation. Using an impressive data set on US stock-listed firms that draws on several data sources, the author then tests his - potheses using leading-edge empirical methods. Noteworthy, he not only proceeds by classical null hypotheses testing, but also employs Bayesian econometrics, a so far rather rarely used method. Jörn Block complements his comprehensive empirical work by an elegant principal-agent model of paying a non-family manager in a family firm.

Companies need intangible assets such as knowledge and brands to develop and to sell new products. Although intangibles become increasingly important, formal reporting procedures to reliably assess their monetary value do not exist. In his dissertation, Philipp Sandner aims at examining portfolios of intellectual property (IP) rights to assess the market valuation of companies¿ intangible assets. Specifically, patents and trademarks are used to approach technology-based and market-based assets, resp- tively. He applies econometric methods to a unique dataset which he assembled specifically for the purpose of this thesis. The thesis consists of four main chapters. First, Philipp Sandner presents in some detail the European trademark system. Research in business administration and e- nomics has rarely relied on trademark data, and the complexity of the institutions is presumably one reason for the current dearth of studies. The first chapter in this study creates a sound foundation for the subsequent chapters. It is also helpful to other researchers who wish to understand the trademark system. The next chapter analyzes the contribution of R&D, patents and trademarks to companies¿ market value. Philipp Sandner is one of the first authors to quantify the impact of different types of intan- bles. In another chapter he scrutinizes trademark portfolios in-depth and explores different filing strategies employed by companies. In the final chapter, he analyzes patterns of stock movement and traces them back to the effect of technology- and market-based assets.

Im Innovationsmanagement nimmt die Frage, wie Unternehmen von ihren Erfindungen profitieren können, eine zentrale Stellung ein. Wichtige Antworten darauf sind von David Teece gegeben worden. Bestimmend für die Aneignung von Innovationsgewinnen sind demnach der Zeitpunkt der Innovation, das Verfügen über komplementäre Güter sowie das Aneignungsregime, was vor allem die Wirksamkeit von Patentschutz und Geheimhaltung beschreibt. Empirische Studien, darunter besonders prominent das Yale Survey und das Carnegie Mellon Survey, haben die relative Effektivität verschiedener Mechanismen untersucht, die die Aneignung von Innovationsgewinnen unterstützen. Die Liste von Untersuchungen zu diesem Thema ließe sich fast beliebig fortsetzen. Erstaunlicherweise findet ein grundlegender Punkt jedoch kaum Bedeutung: die Freiheit, eine Erfindung zu nutzen. Während sich zahllose Publikationen dem Thema Patentierung widmen, wird Nutzungsfreiheit dagegen kaum behandelt und scheinbar als selbstverständlich vorausgesetzt. Selbstverständlich ist sie jedoch keinesfalls: Wird eine Erfindung von einem anderen Unternehmen dupliziert und zum Patent angemeldet, läuft der Ersterfinder Gefahr, von der Nutzung seiner eigenen Erfindung ausgeschlossen zu werden.

Entrepreneurship education at tertiary institutions ranks high on policy agendas in Europe and the US. Richard Weber addresses this question and analyzes the effects of a large-scale compulsory entrepreneurship course on students' entrepreneurial intentions by employing a quasi-experimental approach.

How some firms manage to capture more value than others is a question central to practitioners and researchers alike. In this context, Timo Fischer conducts three empirical studies.

The reuse of existing code through their software developers is critical for firms to ensure efficient development of high-quality software. Manuel Sojer empirically investigates which factors influence software developers to reuse open source code and what causes them to comply with the resulting license obligations or not.