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Article
Publication date: 20 February 2017

Jörg B.A. Haller, Vivek K. Velamuri, Dirk Schneckenberg and Kathrin M. Möslein

Firms increasingly integrate a wide range of actors in the early ideation and concept creation phases of innovation processes leading to the collection of a large number of ideas…

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Abstract

Purpose

Firms increasingly integrate a wide range of actors in the early ideation and concept creation phases of innovation processes leading to the collection of a large number of ideas. This creates the challenge of filtering the most promising ideas from a large number of submissions. The use of external stakeholders into the evaluation and selection of submissions (i.e. open evaluation (OE)) might be a viable alternative. The purpose of this paper is to provide a state-of-the-art analysis on how such OE systems are designed and structured.

Design/methodology/approach

Since OE is a new phenomenon, an exploratory qualitative research approach is adopted. In all, 122 instances of OE in 90 innovation contest cases are examined for their design elements.

Findings

This research reveals that OE systems are configured in many different ways. In total, 32 design elements and their respective parameters are identified and described along the six socio-technical system components of an OE system. This study allows for a comprehensive understanding of what OE is and what factors need to be taken into consideration when designing an OE system.

Practical implications

Scholars and professionals may draw insights on what design choices to make when implementing OE.

Originality/value

The comprehensive analysis performed in this study contributes to research on open and user innovation by examining the concept of OE. In particular, it extends knowledge on design elements of OE systems.

Details

Journal of Strategy and Management, vol. 10 no. 1
Type: Research Article
ISSN: 1755-425X

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Article
Publication date: 6 February 2017

Alexander D.F. Lahmann, Wiebke Stranz and Vivek K. Velamuri

The purpose of this paper is to analyze specific levers of value creation in small and mid-size private equity deals. Private equity firms add value through various types of value…

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Abstract

Purpose

The purpose of this paper is to analyze specific levers of value creation in small and mid-size private equity deals. Private equity firms add value through various types of value creation measures in their portfolio firms to achieve abnormal returns. Established literature has shown that value creation measures differ across portfolio firms due to the different development stages of the firm and different buy-out types. Despite the fact that the majority of deals belongs to the small and mid-size segment, prior studies mostly analyzed large private equity buy-outs or mixed samples.

Design/methodology/approach

To explore value generation measures in small and mid-size buy-outs, a single case study format was applied studying the carve-out of QUNDIS from Siemens Building Technologie by CAPCELLENCE as an exceptional successfully private equity deal within this segment.

Findings

The analysis shows that operational and governance improvements are common value creation measures in all buy-outs. The results suggest a lower leverage for smaller private equity deals indicating that financial engineering is less important. Furthermore, in small and mid-size deals, the strategic focus is growth contrary to downsizing and refocusing in large buy-outs.

Research limitations/implications

Results of a single case study should be generalized cautiously, as they are perceived as less robust compared to empirical methods or multiple case studies. However, this method is appropriate for explorative studies.

Originality/value

The paper is original in exploring certain value creation measures applied by private equity firms in their portfolio companies in the small and mid-size segment.

Details

Qualitative Research in Financial Markets, vol. 9 no. 1
Type: Research Article
ISSN: 1755-4179

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