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Article
Publication date: 10 June 2021

Ciro Troise, Diego Matricano, Elena Candelo and Mario Sorrentino

Starting from the state-of-the-art of Fintech development, this study aims to propose some research propositions comparing reward-crowdfunding (RCF) and…

Abstract

Purpose

Starting from the state-of-the-art of Fintech development, this study aims to propose some research propositions comparing reward-crowdfunding (RCF) and equity-crowdfunding (ECF). In this sense, the present research provides a comprehensive analysis of fintech development and – to conceptualize the comparison between RCF and ECF – it focuses on campaigns’ characteristics, aims and post-campaigns scenarios.

Design/methodology/approach

All the research propositions related to the comparison between RCF and ECF are rooted in dedicated literature. The methodological approach adopted in the present paper can be referred to theorizing.

Findings

This study suggests that five key elements characterize the development of fintech: regulation, infrastructure, technologies, finance and innovations. The research provides nine propositions: four related to the campaigns’ characteristics; two related to the use of crowdfunding models by entrepreneurs; and three related to the performance of crowdfunded companies.

Practical implications

By offering nine research propositions, this study is expected to foster and support the investigation of fintech development from an entrepreneurial and managerial point of view.

Originality/value

To the best of authors’ knowledge, this study is among the first to explore the fintech development and to propose a comparative approach between RCF and ECF. This research contributes to the current debate on fintech development as well as on the comparison between crowdfunding models.

Details

Measuring Business Excellence, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1368-3047

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Article
Publication date: 27 July 2021

Diego Matricano, Elena Candelo and Mario Sorrentino

The food industry has always been supplier dominated, characterised by low research intensity, product line extensions and me-too products. However, recent changes have…

Abstract

Purpose

The food industry has always been supplier dominated, characterised by low research intensity, product line extensions and me-too products. However, recent changes have led new firms operating in the food industry to invest in research and development (R&D) activities in order to introduce innovations into the market and achieve superior performance. This paper aims to verify whether these changes are noteworthy by investigating whether and which innovation-related factors (investments in R&D activities, qualified scientists/engineers and holding a patent) can affect the performance of food start-ups.

Design/methodology/approach

A sample of 108 innovative start-ups operating in the food industry in Italy was selected, and a stochastic frontier analysis was carried out. This methodology was chosen because of the factorisation of the error term, which is divided into a unilateral component (revealing the inefficiency of the statistical model) and a symmetric component (revealing random gaps).

Findings

Statistical elaborations provide two interesting results. One concerns the error term (only random inefficiency affects results) and the other relates to innovation-related factors. Only investments in R&D activities positively affect the performance of innovative start-ups in the Italian food industry.

Originality/value

Results confirm the relevance of investments in R&D activities for Italian start-ups aiming to achieve superior performance in the food industry. These results confirm relevant changes are occurring in what was a supplier-dominated industry and disclose how start-ups should master the dynamics of innovation and allow for speculation on future industry trends.

Details

British Food Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 6 July 2021

Diego Matricano, Laura Castaldi, Mario Sorrentino and Elena Candelo

Organizational culture plays a central role when dealing with the issue of digital business transformation (DBT). Managers handling a DBT and involved in digital…

Abstract

Purpose

Organizational culture plays a central role when dealing with the issue of digital business transformation (DBT). Managers handling a DBT and involved in digital strateging are expected to modify the organizational culture of firms to make it more fitting with the paradigm of digital economy and having more chance of success. Thus, it is noteworthy to inspect the role they can have over DBTs. Accordingly, the purpose of this paper is to investigate the behavior that managers assume when they approach DBTs by investigating whether they act as mentors/facilitators or entrepreneurs/innovators, as coordinators or decision makers.

Design/methodology/approach

To achieve the above purpose, ten case studies about manufacturing firms have been selected. Case studies, retrieved by the Digital Innovation Observatories of the School of Management of the Politecnico di Milano, are studied and analyzed by means of a qualitative content analysis on textual data. This allows getting specific insights into organizational culture before and after DBT and about the role played by managers.

Findings

Achieved results disclose that managers need to modify the organizational culture of their firms to handle a successful DBT. However, firms can assume different organizational culture and thus the role assumed by managers handling a DBT can change as well.

Originality/value

To the authors knowledge, this paper is among the first that aim to investigate the role that mangers assume when handling DBTs. In particular, originality lies in the fact that assumed roles are rebuilt in reference to their ability to modify organizational culture.

Details

International Journal of Entrepreneurial Behavior & Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2554

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Article
Publication date: 4 June 2020

Ciro Troise, Diego Matricano, Elena Candelo and Mario Sorrentino

This paper aims to investigate whether and to what extent equity crowdfunding (ECF) is able to build enduring businesses. This research explores the post-campaign growth…

Abstract

Purpose

This paper aims to investigate whether and to what extent equity crowdfunding (ECF) is able to build enduring businesses. This research explores the post-campaign growth of equity-crowdfunded companies and analyses the impact of intellectual capital (IC) on their growth. To achieve the above aim, we provide a theoretical framework that includes the three well-known dimensions of IC – i.e. human, structural and relational capital – as independent variables and company growth, meant as sales and employment growth, as dependent variable.

Design/methodology/approach

This research uses a quantitative methodology based on two regression analyses. The authors use hand-collected data on 51 successful equity-crowdfunded projects listed on seven Italian platforms.

Findings

The authors find that three variables, namely prior industry experience (human-capital), product innovation (structural-capital) and equity offered (relational-capital) are significant and positively related to the growth of equity-crowdfunded companies. In particular, prior industry experience positively influences sales growth; product innovation positively influences employment growth. Equity offered, instead, has a strong positive impact on both sales and employment growth. Companies that offer a larger percentage of equity during the campaign disclose higher probabilities of growth.

Practical implications

The study has useful implications for several stakeholders, in particular, founders, platform managers, crowdfunders, policy makers and authorities.

Originality/value

The results shed some light on the nascent research field related to post-campaign scenarios of equity-crowdfunded companies. This paper is the first to explore the impact of IC on the growth of companies funded through ECF.

Details

Measuring Business Excellence, vol. 24 no. 4
Type: Research Article
ISSN: 1368-3047

Keywords

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Article
Publication date: 13 May 2019

Diego Matricano, Elena Candelo, Mario Sorrentino and Aurora Martínez-Martínez

The purpose of this paper is to investigate the way companies involved in Open Innovation Processes (OIPs) routinize the procedure through which they can absorb in-bound…

Abstract

Purpose

The purpose of this paper is to investigate the way companies involved in Open Innovation Processes (OIPs) routinize the procedure through which they can absorb in-bound knowledge, i.e. knowledge that comes from the outside and, in particular, from the crowd. In-bound knowledge passes through the phases of acquisition, assimilation, transformation and exploitation. Thus, companies need to define mechanisms and paths – related to their potential and realized absorptive capacity –to manage and exploit it.

Design/methodology/approach

The present paper is based on a longitudinal case study, an OIP launched by Fiat Chrysler Automobiles (FCA) that has already been implemented for three times. Multiple direct interviews with FCA top managers have allowed rebuilding the routinized procedure through which the company absorbs in-bound knowledge.

Findings

To routinize the procedure of absorbing in-bound knowledge, the company has settled specific mechanisms and paths and has established some bottlenecks over the process of acquisition, assimilation, transformation and exploitation of in-bound knowledge. These mechanisms and path, as well as these bottlenecks, are identified and descripted in the paper.

Research limitations/implications

Beyond the limitations linked to the use of a single case study, another limitation might be the reference to a big company in a specific industry. Anyway, with due caution, achieved findings can be referred to other industries as well.

Originality/value

This paper contributes to exploring if and how companies managing OIPs routinize the procedure through which they can absorb in-bound knowledge.

Details

Journal of Knowledge Management, vol. 23 no. 4
Type: Research Article
ISSN: 1367-3270

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Article
Publication date: 18 May 2021

Elena Candelo, Ciro Troise, Diego Matricano, Amedeo Lepore and Mario Sorrentino

Fundamental management innovations have been ideated and developed in the automotive industry. Over the years, carmakers have radically modified their innovation…

Abstract

Purpose

Fundamental management innovations have been ideated and developed in the automotive industry. Over the years, carmakers have radically modified their innovation strategies. Currently, carmakers are increasingly adopting open innovation approaches, moving from a closed to open innovation paradigm. The aim of this paper is to reconstruct the evolution of the innovation activities performed by carmakers and to propose an original periodisation of innovation strategies in the automotive industry since its origins.

Design/methodology/approach

This paper analyses the relevant literature and proposes a theoretical framework that defines how innovation strategies have changed from the birth of the automotive industry to current times. A detailed in-depth case study of Fiat Chrysler Automobiles (FCA), one of the top ten global carmakers, is used to corroborate the theoretical framework. The case study reconstructs the entire evolution of the innovation strategies of the company from its origins to the present day.

Findings

The paper proposes an original periodisation by identifying three evolutionary phases of innovation strategies pursued by carmakers: “internal innovation”, “collaborative innovation” and “towards open innovation”. Each phase embraces a historical period, and for each period, the most relevant managerial aspects, as well as the types and direction of knowledge flows for fostering innovation, are analysed. The case study provides clear evidence that FCA has undergone the three above-cited phases in fostering its innovation strategies.

Originality/value

The study reconstructs the evolution of the innovation strategies performed by global carmakers, proposing an original periodisation of the transitions that occurred in practice in the automotive industry. This paper is among the first to explore the evolution of innovation strategies in the automotive industry since its origins to date and to highlight the salient differences that have occurred over time.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

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Article
Publication date: 3 December 2020

Diego Matricano, Elena Candelo, Mario Sorrentino and Giuseppe Cappiello

This paper investigates the link between Intellectual Capital (IC) and Open Innovation (OI). Scholars worldwide consider the topics as standing alone and so they give…

Abstract

Purpose

This paper investigates the link between Intellectual Capital (IC) and Open Innovation (OI). Scholars worldwide consider the topics as standing alone and so they give scarce attention to the possible link between them. Managerial experiences (and few theoretical contributions), instead, hypothesize a significant role that IC can play over OI processes in order make them successful.

Design/methodology/approach

The methodology of a single case study is used to investigate the link between IC and OI. In particular, an OI process managed by a global company, LEGO, and named Mindstorms is rebuilt and analysed herein.

Findings

Intermediate results achieved by LEGO through its OI process were unsuccessful since the company had not developed its own IC (made up of relational, human and structural capital). The subsequent development of IC, instead, has driven to successful results. This suggests that if companies do not develop their IC before launching OI processes, then these processes might be not successful.

Research limitations/implications

One limitation is the use of a single case study. Despite this, the present article is a warning for all the companies: before launching OI processes they need to develop their IC.

Originality/value

To the best knowledge of the authors, this is one of the first works that deepens the investigation of the link between IC and OI. Very often, scholars investigating IC shyly refer to OI, without mentioning it, while the scholars investigating OI allude to IC, without citing it. In this study, IC and OI are investigated together.

Details

Journal of Intellectual Capital, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1469-1930

Keywords

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Article
Publication date: 10 October 2016

Diego Matricano

According to an emerging research trend, which seeks to apply the concept of intellectual capital (IC) to the field of entrepreneurship, the purpose of this paper is to…

Abstract

Purpose

According to an emerging research trend, which seeks to apply the concept of intellectual capital (IC) to the field of entrepreneurship, the purpose of this paper is to test whether IC can affect the start-up expectations of aspiring entrepreneurs.

Design/methodology/approach

Binary logistic regression models, based on empirical data derived from the Global Entrepreneurship Monitor website and referring to Italy over the years 2005-2010, are used to test the influence of IC (comprising human, structural and relational capital) on start-up expectations.

Findings

Binary logistic regression models reveal robust results. Human, structural and relational capitals affect start-up expectations in Italy. Only in 2010 did structural capital fail to do so.

Research limitations/implications

This study has three main limitations. The first concerns the need for further research to confirm the influence of IC on start-up expectations. The second concerns in-depth, more exhaustive analyses that cannot be carried out due to the use of second- hand data. The third deals with the reference only to Italy, over a limited time-span (2005-2010).

Originality/value

To the best knowledge of the author, this is one of the first empirical studies that investigate whether IC can affect start-up expectations. Results revealed by the regression models might steer other scholars’ interest toward this research path (linking IC and entrepreneurship) that has not yet been properly considered.

Details

Journal of Intellectual Capital, vol. 17 no. 4
Type: Research Article
ISSN: 1469-1930

Keywords

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Book part
Publication date: 28 August 2018

Diego Matricano

Many companies worldwide are currently involved in open innovation processes (OIPs), through which they aim to collect innovative insights and ideas from the crowd. The…

Abstract

Many companies worldwide are currently involved in open innovation processes (OIPs), through which they aim to collect innovative insights and ideas from the crowd. The phenomenon has grown – and is destined to continue to grow – massively. As a result, there is strong interest from scholars and practitioners in rebuilding the relevant processes and developing a set of best practices. What seems to be missing from this developing topic of research is a focus on its antecedents and consequences. Since the phenomenon is so new, a focus on its consequences seems untimely. A focus on its antecedents, on the other hand, seems both promising and intriguing.

The fact that more and more companies are involved in OIPs suggests that they have already developed an organizational open innovation (OI) culture. If an OI culture already exists, how widespread is it and to what extent is it shared among those involved in knowledge ecosystems? With this question in mind, it seems worthwhile to investigate whether OI is supported culturally at both social and individual levels.

Finally, this chapter summarizes the state of the art of OI culture at social, organizational and individual levels and considers how an OI culture developed at company level may serve to drive its development at the social and individual levels.

Details

Exploring the Culture of Open Innovation
Type: Book
ISBN: 978-1-78743-789-0

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Book part
Publication date: 28 August 2018

Abstract

Details

Exploring the Culture of Open Innovation
Type: Book
ISBN: 978-1-78743-789-0

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