The impact of partners’ financial condition on alliance contract design: evidence from biotech-pharma alliances

An Open Innovation Decision Support System to Select a Biopharmaceutical R&D Portfolio

Drugs available in the market today, selected several years ago under very uncertain future scenario, have experienced a long and expensive process of research and development carried out following both a closed and an open innovation path. To support this critical selection process, we propose a Decision Support System, able to choose among different candidates the most promising drugs along their best development path. The Decision Support System, based on a real options portfolio optimization model, mapping tools, and what-if rules as well, has been applied to a numerical example available in literature, and the research findings show interesting managerial and academic implications. Cop…

Network position and innovation capability in the regional innovation network

This paper investigates the positioning of actors characterized by different natures in a regional innovation network and explores how these actors improve their innovation capabilities by assuming prominence or brokering positions. Innovation capability is widely seen to be the driving force in building regional competitive advantage, therefore investigating how the positioning of actors improves their innovation-related activities is relevant in terms of regional competitiveness. This paper builds on a survey conducted on the Sicilian regional area in Italy. A questionnaire was used to collect data concerning the relationships established between actors and the extent to which these relat…

Il prodotto turistico relazionale

Dopo l’onda lunga del turismo di massa vanno sempre più emergendo nuove sensibilità da parte di quanti ritengono che la vacanza sia una complessa esperienza personale. In questo ambito rientra lo studio su forme di turismo e di offerta turistica di tipo relazionale. Nel turismo relazionale il turista-consumatore non acquista alcun pacchetto; al contrario, egli si apre a una esperienza di turismo, e la concreta identificazione del prodotto turistico del quale fruirà non è demandata ad alcuno degli attori che opera dal lato dell’offerta. Vi provvede, piuttosto, il turista stesso attingendo dal territorio le esperienze che questo può dargli con il proprio patrimonio di risorse tangibili, intan…

How risk considerations can affect inter-organization relationship decisions

The new trends in inter-organization relationships push towards network solutions: companies are interested in relationships with partners and customers to overcome resource dependence, enter too risky market or simply differentiate their business portfolio. The present study focuses on network organization aiming at highlighting threats and opportunities to investigate the double nature of the risk concept. In literature the risk concept is often associated to the amount and probability of business losses and the effort is on manage the risk at operative level. In this paper the risk is evaluated in pair with the opportunities is brought in and the risk management is tackled both at strate…

The role of product-based crowdfunding in attracting traditional startup funding

CORPORATE VENTURE CAPITAL SYNDICATION STRATEGIES: A DYNAMIC NETWORK PERSPECTIVE

Corporate Venture Capital (CVC) syndication is embraced by over 80% of corporates which co-investing the same startups with other corporates create a CVC syndication network. In this paper, we aim at exploring the evolutionary dynamics of the CVC syndication network. Specifically, we address this topic adopting two different perspectives. First, we investigate the architectural evolution of the CVC syndication network examining five dimensions that characterize the evolution of the network structure (i.e. degree distribution, connectivity, clustering, density and degree assortativity). In addition, we study how three network strategies (i.e. prominence, entrepreneurial and relational) evolv…

Modulate research effort in inbound alliance

We address the R&D supply chain where a customer wants to sign an R&D contract with a supplier in an inbound open innovation style. Supplier has to decide how much effort put on contract: effort is assumed as nonobservable then it cannot be constrained contractually. We model the R&D process like a staged one, which allows for both an early contract and a late one. The overall committed effort depends on the alliance timing: earlier contracts will ask for a greater cumulated effort although they offer risk-sharing opportunity. On the other hand, later contracts see supplier with a stronger ex-ante bargaining power position, due to shorter (and then less risky) contract length and experience…

A bottom up approach to evaluate risk in network environment

Firms dependence on environment has been contended in various way one of the most suited is the collaboration among other firms in order to realize extra rents. Firm dependence on environment is particularly crucial in sector characterised by complex technology or complex product (product requiring an articulated supply chain) that make the market instable. In this scenario the alliance, whatever is the inter-organizational solution chosen, causes new forms of dependence that are the origins of network risks. In order to evaluate correctly the extra rents a long range perspective has to be assumed and a financial analysis has to be followed. To evaluate expected cash flows it needs to known…

Development of a Decision Support System Framework for Cultural Heritage Management

Decision support systems (DSSs) have been traditionally identified as useful information technology tools in a variety of fields, including the context of cultural heritage. However, to the best of our knowledge, no prior study has developed a DSS framework that incorporates all the main decision areas simultaneously in the context of cultural heritage. We fill this gap by focusing on design-science research and specifically by developing a DSS framework whose features support all the main decision areas for the sustainable management of cultural assets in a comprehensive manner. The main decision-making areas considered in our study encompass demand management, segmentation and communicati…

The interplay of reciprocity propensity and inequality aversion in two-person games

Economic normative models assume that economic actors are fully rational and selfish while recent studies acknowledge the emotional influence of an economic decision and call for further investigation of biases in decision making. Most decisions involve multiple actors who make decisions following a sequential path as reflected by decision trees; this contingency makes a call for the game theory contribution in the economic decision field. Two-person games are widely used to represent a typical framework of economic decisions. This study aims at further investigating psychological biases affecting decisions in a two-person sequential game. So far similar studies have focused on the principa…

An Open Innovation Decision Support System to Select a Biopharmaceutical R&D Portfolio

Drugs available in the market today, selected several years ago under very uncertain future scenario, have experienced a long and expensive process of research and development carried out following both a closed and an open innovation path. To support this critical selection process, we propose a Decision Support System, able to choose among different candidates the most promising drugs along their best development path. The Decision Support System, based on a real options portfolio optimization model, mapping tools, and what-if rules as well, has been applied to a numerical example available in literature, and the research findings show interesting managerial and academic implications

Supply chain finance: The role of credit rating and retailer effort on optimal contracts

Abstract Supply chain finance aims at finding the best financing arrangements within a given buyer-supplier dyad. The source of capital can be internal (buyer or supplier) or external (financial institution) to the supply chain. So far, many studies have investigated the optimal mix of the sources of capital; our study aims at contributing to the recent literature that explores the interface of operations and finance extending the supplier-based financing models. As the Covid-19 pandemic hits economic activity, the financial constraints have ever greater importance; knock-on effects of the Covid-19 crisis urges on the critical role of a supply chain that should provide financial resources, …

Risk assessment and profit sharing in business networks

Abstract Nowadays network is the preferred governance form to conduct economic transactions. Network solution allows to reach flexibility maintaining cost and quality level. Since network concept refers to a great variety of organizational hybrids it is possible to choose the one that fits better market requirements. The new trends in inter-organization relationships push towards network solutions: companies are interested in relationships with partners and customers to overcome resource dependence, to enter too risky market or simply differentiate their business portfolio. The proposed research focuses on the network concept aiming at highlighting threats and opportunities to investigate t…