Entrepreneurial Management
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- 2024
- Working Paper
Dusting Off the Old Ones: Drug Licensing to Startups, Innovation Success and Efficiency
By: Mosab Hammoudeh, Joshua Lev Krieger and Jiajie XuThis paper investigates whether moving R&D from incumbents to startups can increase innovation. Using comprehensive drug development data, we examine the outcomes of drug projects licensed from large firms to startups. We find that these projects licensed to startups are more likely to be developed and approved relative to comparable projects originated by larger firms but never licensed, or licensed between large firms. To explore the mechanisms behind that out-licensing success, we analyze employee movements. We find that employees moving along with a project is a key driver of the superior performance. Finally, we use large pharma company layoff events as shocks to the out-licensing propensity. We show that the marginal out-licensed projects enjoy similar improved performance—suggesting that excess valuable licensing opportunities are “stuck on the shelf.” Our findings underscore the importance of entrepreneurial firms in complementing large firms and improving their efficiency.
- 2024
- Working Paper
Dusting Off the Old Ones: Drug Licensing to Startups, Innovation Success and Efficiency
By: Mosab Hammoudeh, Joshua Lev Krieger and Jiajie XuThis paper investigates whether moving R&D from incumbents to startups can increase innovation. Using comprehensive drug development data, we examine the outcomes of drug projects licensed from large firms to startups. We find that these projects licensed to startups are more likely to be developed and approved relative to comparable projects...
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- April 2024
- Case
Managing AI Risks in Consumer Banking
By: Suraj Srinivasan, Satish Tadikonda, Paul Dongha, Manoj Saxena and Radhika KakIn early 2024, Ruth Jones, head of digital banking at Signa Bank, a (fictitious) European consumer bank, was thinking about how to best incorporate GenAI capabilities to improve efficiencies and create new ways to improve the customer experience. Where were the biggest opportunities? How could the bank incorporate GenAI to better personalize the customer experience? And what were the most effective strategies to mitigate the number of product and enterprise risks that would arise? Jones needed to ensure that as the technology was increasingly embedded and incorporated across the bank’s operating systems, that there would be no negative fallout on its consumers or its reputation.
- April 2024
- Case
Managing AI Risks in Consumer Banking
By: Suraj Srinivasan, Satish Tadikonda, Paul Dongha, Manoj Saxena and Radhika KakIn early 2024, Ruth Jones, head of digital banking at Signa Bank, a (fictitious) European consumer bank, was thinking about how to best incorporate GenAI capabilities to improve efficiencies and create new ways to improve the customer experience. Where were the biggest opportunities? How could the bank incorporate GenAI to better personalize the...
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About the Unit
The Entrepreneurial Management Unit strives to raise the level of academic work in the field of entrepreneurship, in methodological rigor, conceptual depth, and managerial applicability. We also strive to improve the odds of entrepreneurial success for our students and for practitioners worldwide.
Because it is such a complex phenomenon, entrepreneurship must be studied through multiple lenses. We use three.
- The process of entrepreneurship - We seek to understand the processes of entrepreneurial activity in start-ups and established firms by examining the antecedents and consequences of various forms of entrepreneurial opportunity identification and opportunity pursuit for individuals, organizations, and industries. We see experimentation and innovation in products, services, processes, and business models as central to entrepreneurial activity.
- The finance of entrepreneurship - We seek to understand the financing of entrepreneurial ventures by studying the antecedents and consequences of entrepreneurial funding decisions both domestically and internationally.
- The context of entrepreneurship - We seek to understand the ways in which entrepreneurs both respond to and shape the context in which they operate, by examining the history of entrepreneurship across time and national borders and by analyzing the legal and cultural contexts for managerial action.
Please also visit the Arthur Rock Center for Entrepreneurship.
Recent Publications
Dusting Off the Old Ones: Drug Licensing to Startups, Innovation Success and Efficiency
- 2024 |
- Working Paper |
- Faculty Research
Managing AI Risks in Consumer Banking
- April 2024 |
- Case |
- Faculty Research
Spotify Lyrics: Free or Paid?
- April 2024 |
- Case |
- Faculty Research
Loyalty Programs May Limit Competition, and They Could Be Pushing Prices up for Everyone
- April 8, 2024 |
- Article |
- The Conversation
The Engine
- April 2024 |
- Case |
- Faculty Research
LinkedIn: Project InVersion
- April 2024 |
- Case |
- Faculty Research
The Effects of Medical Debt Relief: Evidence from Two Randomized Experiments
- 2024 |
- Working Paper |
- Faculty Research
Pay-As-You-Go Insurance: Experimental Evidence on Consumer Demand and Behavior
- April 2024 |
- Article |
- Review of Financial Studies