Social Science and Technology Seminar Winter 2020
Seminars locations and times are TBD.
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Riitta Katila, Professor, Management Science & Engineering, Stanford Technology Ventures Program
Tim Bresnahan, Professor, Department of Economics
Woody Powell, Professor, Department of Education
Chuck Eesley, Associate Professor, Management Science & Engineering, Stanford Technology Ventures Program
January 23, 2020
Javier Gimeno (INSEAD) - presentation in the Gunn SIEPR Bldg, 3rd Floor, Room 320 (Doll Conference Room)
Resource Acquisition Strategy under Uncertainty: how does input hedging influence output market competition? (with Tieying Yu and Yu Zhang)
This paper explores how the strategies that companies use to hedge the volatility in input costs influence their output pricing (pass-through) behaviour and competitive interactions in the output market. In industries with large dependence on inputs with volatile prices, companies often engage in risk management practices such as natural hedging (vertical integration, alliances) or financial hedging (future contracts, derivatives). When competitors within the industry use different risk management practices, the result is volatile heterogeneity among competitors in terms of accounting costs of inputs and resources. We explore how such heterogeneity is transferred to competitive interactions in the output market, in the context of fuel hedging in the U.S. airline industry. Although textbook economics suggests that firms should deploy resources based on opportunity costs, not historical (accounting) costs, we observe some correlation between hedging windfalls and aggressive pricing. Interestingly, we observe asymmetric treatment in situations of hedging losses, where firms tend to write off the losses rather than recovering them in their price. We also find that the aggressive effect of hedging is more prevalent for firms with growth opportunities, and less prevalent for firms with dominant market positions. The results are consistent with the view that hedging allows firms to invest in growth opportunities when they would otherwise be limited by financial constraints, but also suggests that asymmetric hedging in the market can contribute to the intensity of rivalry.
February 26, 2020
Donald Siegel (ASU) - presentation in the Gunn SIEPR Bldg, 3rd Floor, Room 320 (Doll Conference Room)
Individual and Organizational Issues in Academic Entrepreneurship
My talk will focus on three recent grants from the National Science Foundation (with David Waldman of Arizona State University) and the Kauffman Foundation (with David Waldman of Arizona State University and Marie Mitchell of the University of Georgia) that address three major voids in the literature on academic entrepreneurship (AE):
- The need for more “micro” perspectives on the antecedents and consequences of AE and how we view the role of entrepreneurial support organizations (e.g., technology transfer offices and university-based incubators and accelerators). More specifically, I will focus on the roles of identity, motivation, championing, education, work-life balance, and organizational justice, or perceptions on the part of faculty regarding how they are treated by the technology transfer office and the university administration. The Kauffman study will focus on the role of championing and leadership, as it affects the propensity of postdocs to become engaged in AE. I will also consider the implications of these findings for entrepreneurial support organizations.
- The need for more analysis of the role of postdocs, as opposed to faculty, in AE
- The need for more analysis, at both the “micro” and “macro” levels, of technology transfer and other efforts to promote entrepreneurship at federal/national labs, as opposed studying this phenomenon at universities.
March 11, 2020
Samina Karim (Northeastern) - SEMINAR CANCELLED!