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Chandlerian Firms vs. Entrepreneurship

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  • Alfonso Gambardella
  • Marco Giarratana

Abstract

This paper employs an original dataset for 146 US metropolitan areas to test some propositions that characterize two different models of organizing firms and industries: the managerial firm, epitomized by the work of Alfred Chandler, and the entrepreneurial system, recently highlighted by many authors. We discuss the reasons why, compared to the entrepreneurial systems, the Chandlerian world entails a lower spread of managerial salaries, greater product diversification, and a greater degree of products “exploitation” vs “exploration”. If there are knowledge spillovers, the entrepreneurial model produces higher expected managerial salaries. By providing systematic evidence about their characteristics, our study contributes to our understanding of the nature, the comparative advantages, and the potential division of labor between the two models.

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Bibliographic Info

Paper provided by Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy in its series LEM Papers Series with number 2004/12.

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Date of creation: 15 Jun 2004
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Handle: RePEc:ssa:lemwps:2004/12

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Related research

Keywords: Chandlerian Firms; Entrepreneurship; Diversification; Technology;

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References

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  1. Holmstrom, Bengt, 1989. "Agency costs and innovation," Journal of Economic Behavior & Organization, Elsevier, vol. 12(3), pages 305-327, December.
  2. Olav Sorenson, 2003. "Social networks and industrial geography," Journal of Evolutionary Economics, Springer, vol. 13(5), pages 513-527, December.
  3. Steven Klepper & Sally Sleeper, 2005. "Entry by Spinoffs," Management Science, INFORMS, vol. 51(8), pages 1291-1306, August.
  4. Hall, Bronwyn H & Jaffe, Adam B & Trajtenberg, Manuel, 2001. "The NBER Patent Citations Data File: Lessons, Insights and Methodological Tools," CEPR Discussion Papers 3094, C.E.P.R. Discussion Papers.
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  6. Adam B. Jaffe & Manuel Trajtenberg & Rebecca Henderson, 1992. "Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations," NBER Working Papers 3993, National Bureau of Economic Research, Inc.
  7. Agrawal, Ajay & Cockburn, Iain, 2003. "The anchor tenant hypothesis: exploring the role of large, local, R&D-intensive firms in regional innovation systems," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1227-1253, November.
  8. Joseph Lampel & Jamal Shamsie, 2003. "Capabilities in Motion: New Organizational Forms and the Reshaping of the Hollywood Movie Industry," Journal of Management Studies, Wiley Blackwell, vol. 40(8), pages 2189-2210, December.
  9. Klepper, Steven, 1997. "Industry Life Cycles," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 145-81.
  10. Rebecca Henderson & Iain Cockburn, 1996. "Scale, Scope, and Spillovers: The Determinants of Research Productivity in Drug Discovery," RAND Journal of Economics, The RAND Corporation, vol. 27(1), pages 32-59, Spring.
  11. Holmström, Bengt, 1989. "Agency Costs and Innovation," Working Paper Series 214, Research Institute of Industrial Economics.
  12. Audretsch, David B & Thurik, A Roy, 2001. "What's New about the New Economy?," Industrial and Corporate Change, Oxford University Press, vol. 10(1), pages 267-315, March.
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