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Tales of serial exploration

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Author Info
PABLO MARTIN () (Instituto de Empresa)
Abstract

In this paper, we examine the firm and ecological factors that affect the long-term sustainability of exploration. We analysed the investment decisions by US venture capital firms to enter new technological domains over a 43-year period. Our results suggest that in addition to the well studied effects of inertia and slack, exploration is affected by an organization´s knowledge specialization, is conducive to repetitive momentum, and affects an organization´s subsequent exploration when occurring early in an organization´s life. We contribute to the literature on organizational learning by identifying some of the antecedents of exploration and its sustenance over time.

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Paper provided by Instituto de Empresa, Area of Economic Environment in its series Working Papers Economia with number wp06-03.

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Length: 20 pages
Date of creation: Jan 2006
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Handle: RePEc:emp:wpaper:wp06-03

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  1. Levinthal, Daniel & March, James G., 1981. "A model of adaptive organizational search," Journal of Economic Behavior & Organization, Elsevier, vol. 2(4), pages 307-333, December. [Downloadable!] (restricted)
  2. Michael C. Jensen & William H. Heckling, 1995. "Specific And General Knowledge, And Organizational Structure," Journal of Applied Corporate Finance, Morgan Stanley, vol. 8(2), pages 4-18. [Downloadable!] (restricted)
  3. Jatinder S. Sidhu & Henk W. Volberda & Harry R. Commandeur, 2004. "Exploring Exploration Orientation and its Determinants: Some Empirical Evidence," Journal of Management Studies, Blackwell Publishing, vol. 41(6), pages 913-932, 09. [Downloadable!] (restricted)
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This page was last updated on 2009-10-23.

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