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Insecure Advantage? Markets for Technology and the Value of Resources for Entrepreneurial Ventures

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  • Ashish Arora
  • Anand Nandkumar

Abstract

We study how the impact of capabilities for performance is contingent upon the environment. Using a novel dataset of information security start‐ups, we study how markets for technology change the relative impact of technology and marketing capabilities on performance. Since internal technical effort enables firms to generate technology inputs instead of acquiring them from the market (substitute), a greater supply of technology diminishes the importance of technical ability as a source of competitive advantage. Moreover, since marketing capability complements technology inputs, a greater supply of technology enhances the impact of marketing capability on performance. Copyright © 2011 John Wiley & Sons, Ltd.

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  • Ashish Arora & Anand Nandkumar, 2012. "Insecure Advantage? Markets for Technology and the Value of Resources for Entrepreneurial Ventures," Strategic Management Journal, Wiley Blackwell, vol. 33(3), pages 231-251, March.
    • Handle: RePEc:bla:stratm:v:33:y:2012:i:3:p:231-251
    DOI: 10.1002/smj.953
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    Cited by:

    1. Lee Branstetter & Neil Gandal & Nadav Kuniesky, 2017. "Network-Mediated Knowledge Spillovers: A Cross-Country Comparative Analysis of Information Security Innovations," NBER Working Papers 23808, National Bureau of Economic Research, Inc.
    2. Peters, Bettina & Marks, Hannes & Trunschke, Markus & Grimpe, Christoph & Sofka, Wolfgang & Czarnitzki, Dirk, 2023. "Schwerpunktstudie Technologiemärkte," Studien zum deutschen Innovationssystem 9-2023, Expertenkommission Forschung und Innovation (EFI) - Commission of Experts for Research and Innovation, Berlin.
    3. Ralitza Nikolaeva, 2014. "Post-shakeout Performance, Survivor Bias and the Meaning of Success," Working Papers Series 2 14-04, ISCTE-IUL, Business Research Unit (BRU-IUL).
    4. Castaldi Carolina & Mafini Dosso, 2018. "From R&D to market: using trademarks to capture the market capability of top R&D investors," JRC Working Papers on Corporate R&D and Innovation 2018-01, Joint Research Centre.
    5. Carnevale, Marina & Nachum, Lilac & Korn, Helaine, 2017. "Why does MNE performance vary across countries?," International Business Review, Elsevier, vol. 26(6), pages 1196-1207.
    6. Grimpe, Christoph & Sofka, Wolfgang & Schulz, Philipp & Borchhardt, Geoffrey Thilo, 2019. "Markets for technology in Europe: Mapping demand and its drivers," ZEW Discussion Papers 19-043, ZEW - Leibniz Centre for European Economic Research.
    7. Yang, Jie, 2018. "Subnational Institutions and Location Choice of Emerging Market Firms," Journal of International Management, Elsevier, vol. 24(4), pages 317-332.
    8. Marx, Matt & Hsu, David H., 2015. "Strategic switchbacks: Dynamic commercialization strategies for technology entrepreneurs," Research Policy, Elsevier, vol. 44(10), pages 1815-1826.
    9. Castaldi, Carolina, 2018. "To trademark or not to trademark: The case of the creative and cultural industries," Research Policy, Elsevier, vol. 47(3), pages 606-616.
    10. de Leeuw, Tim & Gilsing, Victor & Duysters, Geert, 2019. "Greater adaptivity or greater control? Adaptation of IOR portfolios in response to technological change," Research Policy, Elsevier, vol. 48(6), pages 1586-1600.
    11. Peters, Bettina & Diekhof, Josefine & Marks, Hannes & Grimpe, Christoph & Sofka, Wolfgang, 2021. "Machbarkeitsstudie "Technologiemärkte". Bericht an die Expertenkommission für Forschung und Innovation: Abschlussbericht (10.05.2021)," ZEW Expertises, ZEW - Leibniz Centre for European Economic Research, number 243274.
    12. Weiguo Zhong & Ya Lin & Danxue Gao & Haibin Yang, 2019. "Does politician turnover affect foreign subsidiary performance? Evidence in China," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(7), pages 1184-1212, September.
    13. Peters, Bettina & Diekhof, Josefine & Grimpe, Christoph & Marks, Hannes & Sofka, Wolfgang, 2023. "Machbarkeitsstudie Technologiemärkte," Studien zum deutschen Innovationssystem 8-2023, Expertenkommission Forschung und Innovation (EFI) - Commission of Experts for Research and Innovation, Berlin.
    14. Laurie Ciaramella & Catalina Martínez & Yann Ménière, 2017. "Tracking patent transfers in different European countries: methods and a first application to medical technologies," Scientometrics, Springer;Akadémiai Kiadó, vol. 112(2), pages 817-850, August.
    15. Bei, Xiaoshu, 2019. "Trademarks, specialized complementary assets, and the external sourcing of innovation," Research Policy, Elsevier, vol. 48(9), pages 1-1.
    16. Vivek Tandon & Navid Asgari & Ram Ranganathan, 2023. "Divestment of relational assets following acquisitions: Evidence from the biopharmaceutical industry," Strategic Management Journal, Wiley Blackwell, vol. 44(4), pages 1013-1052, April.
    17. Ashish Arora & Michelle Gittelman & Sarah Kaplan & John Lynch & Will Mitchell & Nicolaj Siggelkow & Deepa Mani & Anand Nandkumar, 2016. "The differential impacts of markets for technology on the value of technological resources: An application of group-based trajectory models," Strategic Management Journal, Wiley Blackwell, vol. 37(1), pages 192-205, January.
    18. Jane Boeske & Peter A. Murray, 2022. "The Intellectual Domains of Sustainability Leadership in SMEs," Sustainability, MDPI, vol. 14(4), pages 1-19, February.
    19. Gandal Neil & Kunievsky Nadav & Branstetter Lee, 2021. "Network-Mediated Knowledge Spillovers in ICT/Information Security," Review of Network Economics, De Gruyter, vol. 19(2), pages 85-114, January.
    20. Rosa Jordá-Borrell & Francisca Ruiz-Rodríguez & Reyes González-Relaño, 2015. "Factors and taxonomy of technology purchase (TP) by internationalized innovative companies in peripheral European regions," Papers in Regional Science, Wiley Blackwell, vol. 94, pages 139-174, November.
    21. Carlos J. Serrano & Rosemarie Ziedonis, 2018. "How Redeployable are Patent Assets? Evidence from Failed Startups," NBER Working Papers 24526, National Bureau of Economic Research, Inc.
    22. Grimpe, Christoph & Sofka, Wolfgang, 2016. "Complementarities in the search for innovation—Managing markets and relationships," Research Policy, Elsevier, vol. 45(10), pages 2036-2053.
    23. Hsu, Sean Tsu-Hsiang & Iriyama, Akie & Prescott, John E., 2016. "Lost in Translation or Lost in Your Neighbor's Yard: The Moderating Role of Leverage and Protection Mechanisms for the MNC Subsidiary Technology Sourcing–Performance Relationship," Journal of International Management, Elsevier, vol. 22(1), pages 84-99.
    24. Ciaramella, Laurie, 2023. "Taxation and the transfer of patents: Evidence from Europe," European Economic Review, Elsevier, vol. 151(C).

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