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Understanding when entrants might have an advantage over an industry’s incumbent firms in developing and adopting new technologies is a question which several scholars have explained in terms of technological capabilities or organizational dynamics. This paper proposes that the value network—the context within which a firm competes and solves customers’ problems—is an important factor affecting whether incumbent or entrant firms will most successfully innovate. In a study of technology development in the disk drive industry, the authors found that incumbents led the industry in developing and adopting new technologies of every sort identified by earlier scholars—at component and architectural levels; competency-enhancing and competency-destroying; incremental and radical—as long as the technology addressed customers’ needs within the value network in which the incumbents competed. Entrants led in developing and adopting technologies which addressed user needs in different, emerging value networks. It is in these innovations, which disrupted established trajectories of technological progress in established markets, that attackers proved to have an advantage. The rate of improvement in product performance which technologists provide may exceed the rate of improvement demanded in established markets. This mismatch between trajectories enables firms entering emerging value networks subsequently to attack the industry’s established markets as well.

Launching a new product successfully in a multi-brand portfolio is one of the major challenges a pharmaceutical marketer faces. This study aims to examine the role of detailing of new brands on physicians’ prescription behaviour as compared to established brands. Further, the study explores mediating role of detailing priority and detailing time on the relationship between detailing of new versus established brands and physician’s prescription behaviour.

This study was conducted as a real-world observational study involving field research. In total, 338 physicians, 90 PSRs and 44 field managers participated in this study. A serial mediation model (Hayes, Model 6) was used to examine the relationship. Regression analysis with bootstrapping was used to test the hypotheses.

Detailing of new versus established brands has a differential effect on physicians’ prescription behaviour. In addition, this relationship is serially mediated by detailing priority and detailing time.

Results suggest that detailing priority and detailing time positively and significantly alter the relationship between the detailing of new brands and physicians’ prescription behaviour as compared to established brands. While, in the absence of mediators, established brands generate higher prescriptions than new brands, the serial mediating effect helps new brands to generate more prescriptions as compared to established brands.

This research highlights the importance of detailing priority and detailing time for the successful launch of the new products. It presents compelling evidence for practicing managers to effectively use a “predetermined detailing plan” vis-à-vis “individualized detailing strategy” during the launch of a new brand.

To the best of the authors’ knowledge, this is the first study to evaluate the role of detailing priority and detailing time as mediators between the relationship of detailing and physicians’ prescription behaviour. This is also one of the rare studies to use real-world observational study methodology for conducting research.

This paper aims to understand what prevents established law firms from embracing digitalization and discusses barriers to solving the emerging ambidexterity problem. Law firms have been organized in the same way for decades. However, digital opportunities are emerging and new competitors are challenging established firms. This presents established law firms with an ambidexterity problem: How can law firms simultaneously uphold their successful way of working while entering a new world of digitalization, artificial intelligence (AI) and machine learning?

Previous research suggests that law firms are slow in digital transformation, compared to other Professional Service Firms (PSFs). In this paper, the authors explore why this happens. Interview data from representatives in law firms are complemented with data from architects as well as legal industry data and field notes. The data have been analyzed to spot patterns and emerging themes.

The authors find that established law firms face structural and cultural barriers to applying ambidextrous solutions. When comparing law firms with architecture firms, the authors see that while established architecture firms have combined digital exploration with ongoing exploitation, established law firms have focused on exploitation, leaving digital exploration to new legal tech firms. This difference can be attributed to industry context and professional culture.

This paper shows that both structural and contextual ambidexterity is a challenge for established law firms. This paper contributes to the understanding of barriers to embrace digital technology, and supports practitioners in efforts to remove these barriers.

The purpose of this paper is to provide a unique approach to examining issues related to initial public offerings (IPOs).

The price behavior of IPOs in new industries is analyzed relative to IPOs in established industries.

The results show that there are fundamental differences between IPOs of companies in new industries and those in established industries in that there is greater uncertainty regarding future earnings, less competition and fewer barriers to entry. The results indicate that IPOs in new industries outperform IPOs in established industries during holding periods of one to ten years. Furthermore, IPOs in new industries tend to merge less often, declare bankruptcy less often and are delisted less often than firms conducting an IPO in established industries.

A longitudinal approach allows analysis of IPOs of firms relative to other IPOs within the same industry that occurred before or after. By performing such a longitudinal study, issues could be examined which would not have been possible to analyze using a cross section of IPOs from a single time period. The usefulness of this study is that it provides new information to the investor when selecting between IPOs in new or established industries, and also when selecting among IPOs of firms entering a new industry in the early, middle or latter stage of its market cycle.

On the basis of behavioural agency theory and resource-based view, this study investigates the influence of family firm birth mode (i.e. indirect-established or direct-established), family entering time on R&D investment and the moderating role of the family entering time on the relationship between birth mode and R&D investment.

The authors collected 2,990 firm-year observations from family firms listed on A-share in China from 2008 to 2016 in the China Stock Market and Accounting Research database. They used pooled regression for data analysis and Tobit regression for robustness checks.

Indirect-established family firms show more inclined behaviour towards R&D investment than direct-established counterparts. Family entering time positively affects the R&D investment of family firms. Moreover, family entering time plays a significant moderating role in the relationship between family firm birth mode (i.e. indirect-established or direct-established) and R&D investment.

To the best of the authors’ knowledge, this work is a pioneering study that introduced the concept of family firm birth mode (i.e. indirect-established or direct-established) and family entering time. This work is novel because it differentiated family firms according to their birth modes, an approach which is a contribution to the existing literature of family firms. Moreover, the investigation of the moderating role of family entering time has also produced notable results that help understand the impact of family entering time on different types of family firms. The interpretation of outcomes according to behavioural agency theory also produced useful insights for future researchers as well as for policymakers.

The purpose of this paper is to analyse the interaction between a profit maximising mortgagor and a newcomer to a mortgage market with Bertrand competition where the newcomer has a populistic entry strategy and undercuts mortgage market rates. The intention of the paper is to relate the populistic entry strategy to mortgage market characteristics and the strategic market position of both the established mortgagor and the newcomer in question.

The paper analyses a mortgage market by combining the behaviour of a profit maximising mortgagor with that of a newcomer to the mortgage market which has a populistic entry strategy and does not maximise profits. The short-run market solution provides comparative statics on the strategic market position of both the established mortgagor and the newcomer to the mortgage market during the entry phase both related to product differentiation and to price mirroring and undercutting of mortgage rates.

The model finds a mortgage market solution where a lower mortgage rate helps the newcomer gain a customer base. As the newcomer's strategy to mirror prices makes it unable to pass-through funding cost to its mortgage rate, the strategy is unsustainable over time. The established mortgagor has a strategically beneficial position as the mortgage market rates only relate to its funding cost. Unless the newcomer has a funding cost advantage, the established mortgagor has a higher interest rate margin. Differentiation impacts the newcomers’ interest rate margin positively. If the newcomer lacks a funding cost advantage, there is a critical mirroring rate that ensures it a higher interest rate margin. The higher the newcomers’ own funding cost, the higher is the upper bound for price mirroring, relating market entry to a small undercutting of mortgage rates and a mortgage market with weak competition. The funding cost of the established mortgagor pulls pricing in the opposite direction, allowing for a lower mirroring rate and tougher mortgage market competition during entry.

The paper aims to contribute to the understanding of market equilibrium in the absence of profit maximising behaviour. Framing a mortgage market in terms of a duopoly where a newcomer enters with a populistic entry strategy offering a lower mortgage rate and a mortgage product with a different loan-to-value (LTV) ratio, a novel mortgage market case comes about. The populistic entry strategy produces an augmented reaction curve, crucial for the mortgage market rates.

The purpose of this manuscript, a state feedback gain depends on the optimal design of fractional order PID controller to time-delay system is established. In established optimal design known as advanced cuttlefish optimizer and random decision forest that is combined performance of random decision forest algorithm (RDFA) and advanced cuttlefish optimizer (ACFO).

The proposed ACFO uses the concept of crossover and mutation operator depend on position upgrading to enhance its search behavior, calculational speed as well as convergence profile at basic cuttlefish optimizer.

Fractional order proportional-integrator-derivative (FOPID) controller, apart from as tuning parameters (kp, ki and kd) it consists of two extra tuning parameters λ and µ. In established technology, the increase of FOPID controller is adjusted to reach needed responses that demonstrated using RDFA theory as well as RDF weight matrices is probable to the help of the ACFO method. The uniqueness of the established method is to decrease the failure of the FOPID controller at greater order time delay method with the help of controller maximize restrictions. The objective of the established method is selected to consider parameters set point as well as achieved parameters of time-delay system.

In the established technique used to evade large order delays as well as reliability restrictions such as small excesses, time resolution, as well as fixed condition defect. These methods is implemented at MATLAB/Simulink platform as well as outcomes compared to various existing methods such as Ziegler-Nichols fit, curve fit, Wang method, regression and invasive weed optimization and linear-quadratic regression method.

To review the alliance partner selection criteria research in order to shed light on how entrepreneurial firms should choose established firms as alliance partners.

Critical differences between entrepreneurial and established firms are presented to emphasize the special risks in alliances between these two types of firms. Extant literature on partner selection criteria is reviewed to show that adequate research adopting the perspective of entrepreneurial firms is lacking. A list of recommendations is developed for entrepreneurial firms in their choice of established firms as alliance partners. Illustrative cases are presented of both successful and unsuccessful cases of strategic alliances between entrepreneurial and established firms.

Provides evidence that entrepreneurial firms have not been adequately recognized in the research on partner selection criteria in strategic alliances. Based on a comprehensive review of the literature, the paper identifies 15 intrinsic and alliancing difference factors between entrepreneurial and established firms.

Five key guidelines are developed to assist entrepreneurial firms in selecting established firms as alliance partners.

This paper fills a gap in the two literatures on entrepreneurship and strategic alliances regarding research‐based guidance available for entrepreneurial firms in the selection of established firms as partners in strategic alliances.

Beginning farmers have unique challenges securing credit because they are less likely to have established sales and collateral for secured loans. This article explores US beginning farmers’ financing strategies relative to those of established operations, with a focus on the source of financing and debt structure (short- vs long-term usage). Agricultural operations commonly use nontraditional financing tools and strategies to start, build and/or sustain their businesses. This article provides a comparative overview of financing strategies comparing established operators to operations with only beginning operators, as well as those multigenerational operations with at least one beginning operator.

The study uses 2013–2016 USDA Agricultural Resource Management Survey data to explore how various financing patterns vary across US beginning farmers and ranchers with a particular focus on understanding differences where (1) all operators are beginning, (2) there is a mix of beginning and established operators and (3) all operators are established.

This article explores how the nature of beginning farmer status, human capital resources and alternative marketing strategies may influence financial management strategies and lead to differential use of nontraditional financing sources for beginning farmers and ranchers.

Though exploratory, the authors hope that attention to patterns among US beginning farmers and ranchers of reliance on human capital resources including off-farm income and type of beginning farm operation, nontraditional government support programs and alternative marketing strategies can provide important information as to the role of nontraditional credit in the US farm economy.

Over the last decade several studies have focused on what have been called International New Ventures or Born Globals – firms that engage in significant international activity a short time after being established. Building on an empirical study of small firms in Norway and France, it was found that more than half of the exporting firms established since 1990 could be classified as Born Globals. This implies that the Born Global issue is not limited to just a few firms, it includes the majority of newly established exporting firms. Furthermore, in terms of global orientation, export strategy, competitive advantages and market situation – the newly established, highly‐involved exporters possess similar characteristics to the old global firms. Also, newly established low level involvement exporters resemble old low level involvement exporters. Examining the differences between newly established firms with high or low export involvement levels revealed that a decision maker’s global orientation and market conditions (home and export markets) are important factors. Because this study found that a firm is either Born Global or “born as local”, the relevance of internationalization process stage models, as described in previous research, came into question. A key implication is that the decisions made during the establishment process of the firm may be more important to future export development than expected, according to the internationalization process models. In many countries export development programs target the established firms in order to help them succeed in export markets. Alternatively, our findings recommend that export assistance programs place their focus on newly established highly‐involved exporters.