casino 168

Ìý

Stefan Ruehl

Areas of interest:ÌýEntrepreneurship, Entrepreneurial finance, Interorganizational governance, Firm contracting

Job market paper: New venture successful exit after corporate investor withdrawal: The role of pre-specified and renegotiation termination terms in supporting self-enforcing contracts

Abstract:ÌýResearch has long debated the role of formal termination rights in supporting self-enforcing partnerships. Traditionally viewed as mechanisms to facilitate cooperative adaptation, the value of termination rights in providing stability and safeguards may change in the face of disturbances. In this research, I argue that reconciling competing perspectives on the effectiveness of formal governance under disturbances requires an analysis of the distinct ways in which formal rights can support cooperative adaptation. By differentiating between termination rights that pre-specify termination terms and those that allow for renegotiation, I examine the impact of a corporate investors’ withdrawal from minority equity partnerships in the healthcare sector on a new ventures’ likelihood of achieving a successful exit (IPO or acquisition) as well as the moderating role of these different termination rights. Drawing on contracting data, my evidence indicates that renegotiation rights support a partnership in varying ways in different states of the world. In the absence of corporate withdrawal, renegotiation rights are associated with a higher likelihood of a successful exit, whereas in the event of corporate investor withdrawal, they correlate with a lower likelihood of a successful exit. A similar moderating effect cannot be observed for pre-specified termination terms.

Kate Markhvida

Short bio:ÌýKate is a PhD candidate at the Department of Strategy and Innovation. Her research explores inter-organizational collaboration and governance structures with a focus on blockchain governance. First, her conceptual paper elaborates on the role of digital technologies (blockchain) as a governance mechanism for inter-organizational collaboration, exploring the interplay between blockchain and traditional governance mechanisms such as contracts and trust. Second, her job market paper examines why complex business ecosystems supported by digital governance fail and what lessons can be learned from failure, unpacking empirically the case of TradeLens, a blockchain powered platform developed by Maersk and IBM for maritime container shipping. Third, her quantitative paper evaluates whether the implementation of digital business ecosystems results in improved organizational performance by studying container ports in the United States. Kate uses mixed methods in her dissertation. Kate holds a B.A. in Economics and Statistics from the University of British Columbia, a M.A. in Economics from Carleton University, and a graduate certificate in air and space law from McGill University. Prior to joining casino 168, Kate worked as a senior economist at the International Air Transport Association and in private consulting specializing in benefits of aviation, air connectivity, policy analysis, competition analysis, and regulation of air transport. Kate published in the Journal of Air Transport Management. She held teaching appointments and guest lectured at Cranfield University, Sauder School of Business (UBC), the Istanbul Technical University and other professional institutions.

Areas of interest:ÌýGovernance of inter-organizational collaboration, cooperation and competition (co-opetition), business strategy, digitalization, transportation.

Job market paper:ÌýThe paradox of blockchain governance: lessons from the demise of TradeLens

Abstract:ÌýThe increasing adoption of digital technologies to facilitate inter-organizational collaboration underscores the importance of understanding how these technologies interact with established governance mechanisms. Despite the promise of such technologies, several high-profile initiatives —most notably those leveraging blockchain — have failed to achieve sustained success. This study draws upon the literatures on organizational failure and interorganizational governance to examine the key factors that contributed to the discontinuation of TradeLens, a blockchain-based platform developed by Maersk and IBM to enhance efficiency in global container shipping. Designed to streamline transactions and improve visibility across maritime supply chains, TradeLens is an intriguing case for understanding the challenges of using blockchain governance to support inter-organizational collaboration. We discuss lessons learned by the architects of the platform and by other groups of actors in the container shipping supply chain. Further, we discuss the theoretical implications of our empirical research for inter-organizational governance. In particular, we highlight the complex interplay between blockchain as a digital governance mechanism, trust as a form of relational governance, and contracts as a form of contractual governance.

Shelter Teyi

Short bio: Shelter is a PhD graduate from the Department of Strategy and Innovation. His research lies at the intersection between entrepreneurship and strategy. Shelter’s current research investigates the entrepreneurial pre-entry process and the implications of the pre-entry process for firm strategy and different venture outcomes. Shelter has acquired skills in theory building as well as collecting and analyzing large-scale primary (both qualitative and quantitative) data, mainly from the informal economy in Ghana. He has extensive experience in teaching entrepreneurship courses at both the undergraduate and graduate levels. Shelter has also co-taught a course that leverages gamification as a tool in learning about mechanisms of strategy. Each of the three papers that make up Shelter's PhD thesis has been recognized with best paper awards and nominations at prestigious conferences such as the Academy of Management Conference (2025), the Africa Academy of Management Conference (2024 and 2023), and the Nordic Conference on Small Business and Entrepreneurship Research (NCSB2022).

Areas of interest: The entrepreneurial pre-entry process, Entrepreneurial strategy, Entrepreneurship in the informal economy, Necessity entrepreneurship in developing countries, Entrepreneurial identity, Social embeddedness

Job Market Paper: Entrepreneurial pre-entry process, evidence from the informal economy

Abstract: The entrepreneurial pre-entry process encompasses the set of actions through which prospective entrepreneurs may learn about the viability and feasibility of their business ideas. We study the entrepreneurial pre-entry process within the context of the informal economy, the part of the economy that operates outside the reach of different levels and mechanisms of official governance. Entrepreneurship rates are relatively high in the informal economy, yet the types of businesses founded and their performance are often underwhelming. We develop a theory that explains why some prospective entrepreneurs in this context engage in more pre-entry steps – as a measure of their search for information – than others. We argue that prospective entrepreneurs’ human capital endowments are positively associated with the number of pre-entry steps that they take when assessing new business ideas, and even more so when they are broadly embedded in informal institutional domains. We further argue that social embeddedness can be a double-edged sword because the depth of embeddedness in informal institutions can erode the gains that would otherwise accrue from individuals’ human capital endowments. We test our hypotheses with unique survey data from a large informal cluster in Ghana – a country where over 80% of the economic activity is estimated to be informal – and find broad support for our theory.