Cette thèse porte sur les enjeux encore non explorés du capital-risque d’entreprise (Corporate Venture Capital, ou CVC). Cette recherche mobilise l’approche basée sur les ressources, l’approche fondée sur les connaissances, l’apprentissage organisationnel avec un focus particulier sur le concept d'ambidextérité, l’approche par les options réelles et la théorie des réseaux. L’analyse empirique couvre la période de 1998 à 2017 et est basée sur 4 206 entreprises américaines pour le premier essai, 1 547 entreprises américaines de biotechnologie pour le deuxième et 12 895 investissements effectués par 274 investisseurs en CVC nord-américains pour le troisième. Pour tester toutes nos hypothèses, nous utilisons des régressions multiples (MCO, régression binomiale négative, méthode des doubles moindres carrés,…). Dans le premier essai, nous montrons, en utilisant l’approche par les options réelles, que lorsque l’incertitude exogène est réduite, les entreprises financées par CVC bénéficient de montants d’investissement plus élevés et d’une durée d’investissement plus longue. Deux facteurs réduisent l'incertitude et améliorent le processus d'apprentissage organisationnel: la force des liens et la proximité géographique entre l'investisseur et l’entreprise financée. Les apports supplémentaires d’investissement conduisent à une entrée en bourse plus fréquente pour les entreprises soutenues par le capital-risque indépendant tandis qu’une durée plus importante de l’investissement débouche sur une sortie par acquisition plus fréquente pour les entreprises soutenues par le CVC pour des raisons liées à l’apprentissage organisationnel. Dans le deuxième essai, les entreprises soutenues par CVC affichent des taux d'innovation plus élevés que leurs homologues soutenues par IVC. La performance en termes d’innovation des entreprises soutenues par CVC dépend de leur capacité à tirer parti des ressources complémentaires de leurs investisseurs. Nous proposons trois mécanismes qui améliorent le taux d'innovation: la capacité d'absorption des entreprises financées, la force des liens et la proximité géographique entre les entreprises qui financent et les entreprises financées. Dans le troisième essai, l'ambidextérité séquentielle conduit à une meilleure performance financière pour l’investisseur que les formes équilibrées ou simultanées d'ambidextérité des investissements en CVC. Enfin, la combinaison des formes d'ambidextérité équilibrées et simultanées produit des synergies et améliore la performance financière de l’investissement en CVC. / This thesis addresses unexplored issues on corporate venture capital (CVC). This research is designed on insights from resource-based view, knowledge-based view, organizational learning with a special focus on ambidexterity, real options lens, network theory. Our empirical analysis covers the period between 1998 and 2017 and is based on 4206 U.S. companies for the first essay, 1547 U.S. biotechnology companies for the second essay and 12895 investment-deals from 274 North American corporate investors for the third one. To test all hypotheses, we employ multivariate -regression analyses (e.g., ordinary least squares, negative binomial regression, two-staged least squares). In the first essay, we find that CVC-backed companies exercise real options when exogenous uncertainty is mitigated and as a result, experience higher financial injections and prolonged duration. Two influential factors reduce uncertainty and improve the organizational learning process: tie strength and geographic proximity between the corporate investor and the entrepreneurial company. Additional investment amounts lead to a higher frequency of IPO exit for independent venture capital (IVC) backed companies while longer investment durations motivate a higher frequency of acquisition exit for CVC-backed companies for organizational learning reasons. In the second essay, CVC-backed companies display higher rates of innovation output than their IVC-backed counterparts. The performance of CVC-backed companies is responsive to their ability to leverage the complementary resources of corporate investors. We propose three mechanisms that improve the innovation output: absorptive capacity of entrepreneurial companies, tie strength, geographic proximity. In the third essay, sequential ambidexterity drives to higher corporate investors’ financial performance than balanced or simultaneous forms of ambidexterity in CVC investments. Finally, the combination of balanced and simultaneous forms of ambidexterity produce synergy and enhance the financial performance of CVC investments.

Background: In a highly competitive world, leaders of firms highly dependent on innovation, such astelecom companies, must acquire data-driven managerial skills to systematically analyze datasets from multiple points of view to aid decision-making in the new context of Industry 4.0. Data mining can be performed on both tangible and intangible assets of Big Data sets, but systematic analytics performed on Small data can function as a crucial refinement for such insights. In addition, they are usable to train the algorithms during machine learning supervised stage, for example, when treating datasets in the field of psychometrics: originated by human perceptions and behaviors. This applies to the exploitation of strategic information, for business purposes, from intangible reservoirs, such as human capital aspects. Ambidexterity is a leadership conduct, primarily focusing on human capital and encompassing the behaviors of exploration and exploitation of new ideas. It has been historically proven to be essential for innovation. However, leaders and companies often limitedly focus on the exploitation of human capital aspects through psychometrics inserted in a data-driven framework. For business models that consider innovation as a matter to be pursued at any levels of the organization and not only confined to one specific department such as R&D, this is indeed a crucial element to be investigated to foster innovation and retaining a competitive edge. This research is performed in collaboration with a world leading telecom company and has been requested by its Innovation Leader. Objectives: The first objective of the research is to provide a flexible conceptual model and standardized methodology, suitable for incumbent, cross-country companies, highly dependent on innovation that intend to begin investigation on how those aspects influence their business performances. Second, the hypothesis testing of the conceptual model has the purpose of identifying the human capital aspects of national and corporate culture that show statistically significant andstronger cause-effect relationship towards enhancing innovation ambidexterity. Third, predictions interms of prevalence of explorative or exploitative innovative behaviors are aimed at providing indications on what the company could expect in terms of Innovation Ambidexterity with their current conditions. An automatable and replicable method that is data-driven-based for company`s decision makers is provided. It is also suitable for further integration within machine learning algorithms or simply as refinement of data mining insights and these aspects addressed are within the possibilities for improvement. The objective of the thesis is to test the methodology on a relatively small size sample to show to the company executives and Innovation Leader, the potential of the approach and the value that these data can have for decision making. They can decide to develop further the research involving larger samples at a later stage: inserting the analyses into an automatic periodical routine with dashboarding of the outcomes. During the post survey interviews, awareness among the management and executives has also been raised about the potential of such approach to obtain strategic business information unavailable until now. Please note that it was not the purpose of thisstudy to provide a conceptual model that was specific and suitable for the human capital`s characteristics of one specific company. The purpose was instead to provide a data-driven framework and a conceptual model that could be used by any company of the telecom sector to approach the task and to find moderating or mediating factors. It will also allow companies of different sectors to refine the model based on their needs at a later stage, as a possibility for future improvement. Methodology: A conceptual model, partially newly designed for this research is introduced. It incorporates selected elements of national and corporate culture appearing to be crucial for innovation ambidexterity, according to an extensive literature review. The quantitative analysis is also extensive.A less extensive analysis would have left too much uncertainty in the findings, undermining the confidence of executives in taking into consideration the results aimed at business actions. For these reasons, we recommend to researchers who are tackling the exploitation of intangible assets (such as human capital) to perform an extensive set of analyses. From the main dataset, the analyses of the methodology have been replicated on 5 sub-data sets based on the heterogeneity measured. The methodology includes CTA, PLS-SEM modeling on the outer model, PLS-SEM on the inner model including bootstrapping, MGA, FIMIX-PLS, IPMA, blindfolding for the predictive relevance of the model followed by POS and Weka predictions. Cause-effect relationships, mediating and moderating factors of national and internal culture have been also identified and indicated as part of the possiblefuture personalization of the model on the specific company`s human capital characteristics. The national culture attributes consist of power distance, uncertainty avoidance, collectivism, masculinity (unrelated to the gender) and gender diversity. The corporate culture attributes are categorized into caring climate, creative instability, boundary spanning, decision making and strategic horizon. The methodology employs a bottom-up survey design to collect data through an online questionnaire across three company sites located in Sweden, Italy, and China. The pieces of software used were SmartPLS 3 for Structural Equation Modeling and Predictions Oriented Segmentation and Weka 3.8.5 for a machine learning algorithm (an artificial neural network was used), as a double check on PLS-POS predictions. Some qualitative interpretations, pre and post survey interviews were also added. Results: Hypothesis testing and cross-comparisons are performed on groups such as employees, leaders, and the different geographical sites. During the evaluation of the results, special attention was put on the parameters related to the quality and statistical relevance, not only of the model tested on the six cohorts, but also on the single national and corporate attributes that build it up. The results show that explorative behaviors predict innovation ambidexterity to a larger extent than purely exploitative ones, confirming the main hypothesis. Predictions that were POS-based and verified by Weka machine learning algorithm have shown instead how the pursuit of innovation ambidexterity within the company is unbalanced towards exploitative behaviors. The study has provided PLS-SEM indications on how company executives may wish to pursue explorative behaviors towards innovation, but the company middle management is steering in the opposite direction, focusing on attributes more linked to efficiency and constant delivery. Consequently, what initially appeared to be a complex national culture issue of employees interfering with corporate culture, has been linked instead to a possible middle management issue related to two different business models: where one prevails over the other, instead of cooperating to reach innovation ambidexterity. This is a valuable strategic input for the company executives. The quantitative methodology uncovered results and patterns that the Innovation Leader had so far only intuitively perceived, and it offered such counterintuitive interpretation of the causes. With regards to national culture: power distance increases exploitative behaviors; gender diversity increases explorative behaviors, while it decreases exploitative behaviors. With regards to corporate culture: creative instability crucially increases explorative behaviors but decreases exploitative behaviors. Boundary spanning decreases exploitative behaviors. Conclusions: The thesis answered to the research question. It provided a scientific contribution, allowing a better understanding of how national and corporate cultures interact to generate explorativeand exploitative behaviors and ultimately innovation ambidexterity. It provided a flexible conceptual model and a standardized, automatable data-driven methodology suitable to discover insights from human capital aspects that influence innovation in a business: taking the analyses of human capital data performed by the firm “to the next level”. Recommendations for future research: A recommendation is to apply the proposed conceptual model to compare bigger size samples with even less heterogeneity, according to the optimal datasample`s characteristics identified. This will also allow a further personalization of the flexible andgeneral conceptual model presented (which is so far suitable for the general telecommunication sector), to more specific characteristics of the company which is the object of analysis. In a completely automated framework, it is also recommended to consider the possibilities of applying thisdata-driven, decision-making approach to other companies or industrial domains. This means, for example, integrating the proposed methodology within a machine learning algorithm in its supervised stage. The algorithm can be trained using the current analyses as refinement of insights provided by Big Data mining performed on sets related to innovation and collected within the firm`s organizational or production systems. It is also important to clarify that, according to the indication of the authors of this study, the results of the data-driven framework can be compared among different companies. However, to collect data from different companies through the same questionnaire shall be avoided because the quality of the results is highly dependent on the homogeneity of groups` mindsets and perceptions.

L’intensité concurrentielle et les évolutions technologiques n’ont jamais été aussi intenses. Aussi, les entreprises en quête de pérennité sont-elles de plus en plus confrontées à une nécessité d’exploiter leurs activités actuelles et d’explorer des activités futures. Or la gestion de ce double impératif est loin d’être évidente, générant potentiellement d’importantes tensions au sein des entreprises. Bien que la recherche en management ait permis de mieux appréhender cette tension d’Exploration/Exploitation, il reste des zones de contradiction et des espaces non explorés. En particulier, il n’y a pas de consensus sur les définitions des concepts d’exploration et d’exploitation, ne permettant pas ainsi de garantir une certaine cohérence dans la recherche (Birkinshaw & Gupta, 2013). D’autre part, la tension Exploration/Exploitation n’a que très peu été étudiée dans le contexte des jeunes entreprises de croissance - également appelées « scale-up » - qui ont la particularité d’être exposées à de forts enjeux de survie. Ainsi, afin de contribuer à une meilleure compréhension des problématiques que soulève cette tension au sein de celles-ci, un format de thèse sur travaux, comprenant trois études complémentaires, est adopté.Au préalable, afin de cadrer conceptuellement la thèse, je réponds, dans une première étude, à l’appel des chercheurs pour la clarification des concepts d’exploration et d’exploitation en proposant une typologie d’exploration. Puis, par l’intermédiaire d’une approche multi-cas longitudinale menée auprès de huit jeunes entreprises de croissance, j’explore tout d’abord, dans une deuxième étude, les facteurs influençant les orientations stratégiques des entreprises quant à leurs activités d’exploration et d’exploitation. Enfin, dans la troisième étude, je cherche à comprendre comment le fonctionnement des équipes de direction définit les rôles de chacun dans les activités d’exploration et d’exploitation. / Competition and technological change have never been as intense as they are today. To survive, companies must increasingly carry out current activities at the same time that they explore future ones. It is no easy task to operate on both of these fronts, and doing so is a potential source of tension and contradiction. Although management research has provided insight into the exploration and exploitation tension, there are still contradictions and unexplored areas. In particular, there is no consensus on the definition of the concepts of exploration and exploitation, which means the research lacks a certain level of consistency. In addition, there has been very little attention paid to the Exploration/Exploitation tension in the context of young, growing “scale-up” companies, which are particularly exposed to threats to their survival. To obtain a better understanding of the situations this tension causes in these companies, we have adopted a multi-paper dissertation consisting of three complementary studies.In the first study, to create a conceptual framework for the thesis, we answer researchers’ call for a clarification of the concepts of exploration and exploitation by proposing a typology of exploration. Then, based on a longitudinal, multi-case approach focused on eight scale-up companies, we first explore, in a second study, the factors influencing firms’ strategic orientations vis-à-vis exploration and exploitation activities. Finally, in the third study, we seek to understand how management teams define their individual roles with respect to exploration and exploitation activities.

Cette thèse étudie la façon dont l’atteinte ou non des objectifs et la gouvernance influencent la direction du changement organisationnel – en termes d’exploration et d’exploitation - et analyse l’impact de ces effets sur la performance de l’entreprise au fil du temps. Dans un premier temps, je procède à une analyse détaillée de la littérature sur le Corporate Venture Capital afin de positionner mon propre travail de recherche dans le champs considéré et confirmer l’originalité de mes contributions. Ensuite, dans la première étude, j’examine comment la non-atteinte des objectifs fixés influe sur la direction du changement organisationnel mis en oeuvre dans l'entreprise, et étudie la façon dont ces changements sont influencés par la place qu’occupent les actionnaires stables ou passagers dans le capital de l’entreprise. Dans la seconde étude, je vérifie empiriquement la validité des propositions formulées en examinant les investissements de corporate venture capital (CVC) réalisés par un échantillon d’entreprises ayant une forte activité CVC. Enfin, l'équilibre entre exploration et exploitation au fil du temps, ainsi que les caractéristiques des oscillations entre ces deux types d’activités sont examinés dans la troisième étude constituant cette thèse. Les analyses empiriques portent sur les investissements de CVC effectués par 286 entreprises des États-Unis sur la période 1993-2013. Cette thèse contribue à la théorie comportementale de l’entreprise (Behavioral Theory of the Firm) en examinant la façon dont la structure du capital et l’actionnariat influe sur la prise de décisions en matière d’innovation et de changement. En étudiant la façon dont l'inertie organisationnelle et les phases de changement affectent les activités d'exploitation et d'exploration, cette thèse contribue aussi à la recherche sur l’ambidextrie organisationnelle. Pour finir, ce travail participe à la recherche sur le corporate venture capital au travers de l’étude des antécédents et des conséquences des activités d'exploration et d’exploitation dans le cadre de l’investissement CVC. / This dissertation addresses unexplored issues on the antecedents, management, and outcomes of corporate venture capital (CVC). More specifically, I examine how negative performance feedback and corporate governance influence the direction of organizational change ˗ in terms of exploration and exploitation ˗ and how balancing such change over time influences firm performance in the CVC context. I first review the extant literature on CVC and lay out the unique contributions of my research. Then, in the first essay, I theorize on how poor firm performance influences the resource allocation decisions on exploration and exploitation and how such decisions are affected by the concentration of dedicated and transient shareholders and by the board of directors' monitoring and advising intensities. In the second essay, I empirically examine how the resource allocation decisions on exploration and exploitation are influenced by dedicated and transient shareholders in the context of CVC investing. In the third essay, I examine how balancing exploration and exploitation over time and the characteristics of oscillation impact firm performance. The empirical analysis in the latter two essays is based on CVC investments made by 286 U.S. companies during 1993-2013. This dissertation contributes to the Behavioral Theory of the Firm and Corporate Governance research by introducing how shareholders and boards influence managerial decision-making in search and change, Ambidexterity research by studying how continuous change and organizational inertia impact temporal spillover between exploration and exploitation, and CVC research by examining the antecedents and consequences of explorative and exploitative initiatives in CVC investing.

No description available.

No description available.

Kay Fiskers Plads lies at the junction of Copenhagen’s south-bound  metro line, M1, and the Øresundtog train route connecting the city with Malmö, Sweden across the Øresund channel. Surrounding the plaza are Scandinavia’s largest shopping mall, Fields, Neroport offices, Sweden’s Ferring Pharmaceuticals branch and office spaces owned by KLP Ejendomme, a Norwegian based real estate firm. The plaza is bordered by long, blank façades that struggle to bring life onto the sidewalks, streets and shared spaces between buildings. Businesses come and leave quickly around Kay Fiskers Plads, while strategies to gain a new customer base and attractive nature continue to push forward.   This written presentation of research finds it’s basis in this particular space and sets to accomplish the following tasks: draw attention to the necessity of revitalizing modern urban dead zones; promote methods that, when implemented thoughtfully, can encourage a heightened sense of place / space identity for local residents and businesses; and provide updated and relevant academic literature that promotes knowledge and adds to the conversation surrounding Kay Fiskers Plads and modern urban plaza revitalization.  This research thesis will collect data through methods which include semi-structured interviews and mapping of Kay Fiskers Plads by the researcher (the author). These methodologies will be closely accompanied by theoretical perspectives that aim to draw the story of Kay Fiskers Plads into relevancy against the backdrop of global and local economic phenomena, architectural patterns, mega projects and a heightened need for public, multi-use spaces of quality. Work on this thesis began eight months ago in December 2021. However, it aims to bring about a conversation through scholarship that will be discussed forthcoming between city planners, architects, business owners, investors, frequent users of the space and those who will be acquainted with it in the future. There is a pressing need for all previously mentioned parties to have a solid understanding of the far reaching effects that public space, economy, citizens and vitality play upon one another– in essence, a need for discussion on projects under the umbrella scope of urban studies. / <p>Exam was help online over zoom. </p>

Business model innovation has in recent year become more important for firms looking to gain competitive advantage on dynamic markets. Additionally, incorporating data into a firm’s business model has been shown to lead to improved performance. This development has led to interest in the connection between data utilisation and business model innovation. This thesis provides an in-depth case study of a Swedish space firm active within the satellite industry. The firm operates within an increasingly dynamic market, and ongoing disruptions in the form of new market entrants and rapid technological advancements has led to a search for new business opportunities. As a result, novel ways of utilising the increased amounts of data from space are of significant importance. While the firm is still realising profits utilising their incumbent business model, the firm must simultaneously explore new business opportunities to avoid extinction. The findings show that novel data utilisation, in the form of data processing, leads to business model innovation. Furthermore, the degree of business model transformation is dependent on how many of the business model's underlying elements are affected by data utilisation. Furthermore, the study concludes that a lack of trial-and-error learning impedes radical innovation efforts and hinders the development of ambidextrous capabilities within the firm. Lastly, the study finds a novel connection between the introduction of large-scale projects and improved ambidextrous capabilities. / Innovation av affärsmodeller har under senare år blivit alltmer viktigt för företag som vill uppnå ökad konkurrenskraft på dynamiska marknader. Vidare har det visat sig att företag som använder data för att förändra sin affärsmodell når bättre resultat än sina konkurrenter. Detta har lett till ett intresse för kopplingen mellan datautnyttjande och innovation av affärsmodeller. Detta examensarbete består av en fallstudie av ett svenskt rymdföretag, som har del av sin verksamhet inom satellitbranschen. Företaget verkar på en alltmer dynamisk marknad, och pågående störningar i form av nya marknadsaktörer och tekniska framsteg har lett till att företaget nu måste söka efter nya affärsmöjligheter. Som ett resultat av detta blir nya sätt att använda de ökade mängderna data från rymden av stor betydelse. Fastän företaget fortfarande framgångsrikt nyttjar sin befintliga affärsmodell, måste företaget samtidigt undersöka nya affärsmöjligheter för att undvika att hamna efter marknadsutvecklingen. Studiens resultat visar att nya sätt att använda data, i form av databehandling, leder till innovation av företagets affärsmodell. Dessutom beror graden av innovation på hur många av affärsmodellens underliggande byggstenar som påverkas av införandet av data. Studien drar vidare slutsatsen att en brist på lärande genom ’trial-and-error’ inom företaget hindrar radikala innovationsinsatser och leder till begränsade förutsättningar för att hantera organisatorisk ambidexteritet. Slutligen finner studien att storskaliga innovationsprojekt kan förbättra förutsättningarna för organisatorisk ambidexteritet.

Background: Due to the deficit of knowledge on fine motor skill far transfer from one domain of expertise to another, piano performance and surgical training serve as a relevant, interdisciplinary context in which to study the transfer of motor skills given both have relatively well-established levels of performance and require complex fine motor skills. Musicians tend to demonstrate greater ease in all aspects of procedural knowledge which are known to contribute to the early stages of motor learning. Previous research in the Piano Pedagogy Research Laboratory (PPRL) found that extensive piano training was correlated with faster learning of surgical knot-tying skills. However, the short-term two-day timeline was a limitation of the study. Objective: Our project has built on previous work in the PPRL to address the short-term nature of previous studies by measuring a long-term performance curve as well as retention of surgical training and also expanded on the previous project by focussing this time on laparoscopic tasks. This study compared performance curves of two participant groups (pianists and controls) over five consecutive days and retention one week later, as measured by speed and accuracy of task completion. Laparoscopic training consisted of six tasks repeated at every session. Since laparoscopy involves a variety of abilities concurrently, we also administered a battery of ten psychometric tests to isolate and measure specific aspects of non-motor and fine motor skills. Results: There was no statistical difference between participant groups on the majority of laparoscopic training and psychomotor assessments based on two-way mixed ANOVA and Mann-Whitney U test analysis, respectively. There were also little to no significant correlations between abilities and laparoscopic performance. The only significant confounding variable was that the control group was significantly more interested in surgery than the musician group (p = .037). Conclusion: Overall, these results demonstrate that piano performance training did not far transfer to laparoscopic surgery. This is relevant to the debate on far transfer of motor skills given this study’s robust design which addressed previous shortcomings by including a longer timeline and more specifications of musicians’ characteristics. Our findings indicate that fine motor skills are domain specific to music and surgery, respectively.

No description available.