24 episodes

The world's business thinkers, CEOs and top leaders, give insights to global corporate trends and concerns in the cameras of our 90 seconds with... series, while the international news arena hardtalk with our professors on breaking economic, cultural, and political issues.

Strategy and general management ESMT European School of Management and Technology

    • Business

The world's business thinkers, CEOs and top leaders, give insights to global corporate trends and concerns in the cameras of our 90 seconds with... series, while the international news arena hardtalk with our professors on breaking economic, cultural, and political issues.

    • video
    The Executive Transition Program - your door to general management

    The Executive Transition Program - your door to general management

    The ETP provides an integrative understanding of key management functions, including the personal and organizational skills required to lead an enterprise and the broad strategic capabilities needed to identify and capitalize on new growth opportunities.

    • 3 min
    Mortality beliefs distorted: Magnifying the risk of dying young

    Mortality beliefs distorted: Magnifying the risk of dying young

    We explore mortality beliefs by eliciting individual-level belief distributions for participants’ remaining lifespan. Across two independent samples, from Germany and the USA, we find that individuals—while accurately forecasting their life expectancy—substantially overestimate the likelihood of dying young (100 years). In other words, the modes of the belief distributions are relatively accurate, but the tails of the belief distributions are significantly ‘fatter’ than the corresponding tails of distributions obtained from demographic data. Our results are robust to variations in belief elicitation techniques, and to assumptions underlying normative longevity forecasts. The results have implications for a range of questions of economic behavior—including intertemporal choice, consumption smoothing, saving, and risk management.

    The distribution of partnerships benefits: Evidence from co-authorships in economics journals

    The distribution of partnerships benefits: Evidence from co-authorships in economics journals

    Partnerships can be found in many areas of social and economic life. These arrangements have become particularly common in research and development activities where organizations increasingly look for partners to complement their own technological capabilities with a view to create innovative products and processes. R&D partnerships, however, are fraught with challenges because the conditions for creativity through cooperation are still not fully understood. Academic partnerships are also very common and offer a fertile ground for investigation. Academic cooperation takes many different forms and results in a wide range of outcomes (Laband and Tollison, 2000). One of the most visible outcomes is co-authored publications (Melin and Persson, 1996). Nowadays, there is extensive data available about both the context of these partnerships as well as the quality of their outcome. This paper explores the determinants of the gain for authors who cooperate through co-authorship in the publication of academic articles. We distinguish between short-term benefits (i.e. the increase in citations of the co-authored article relative to the authors’ previous publications) and the long-term ones (i.e. the increase in citations of articles subsequent to the co-authored piece). We find evidence that these benefits have different determinants for co-authors depending on their past experience. While co-authorship generally seems to benefit more the junior (younger and with a lower academic reputation) author, the senior partner can reduce the gap with a strong personal track record and co-authoring experience.

    The dynamics of relational quality in co-development alliances

    The dynamics of relational quality in co-development alliances

    Co-development alliances are formed to create new capabilities (technologies, products, services, processes, etc.) that partner organizations need in order to reach their goals. They involve the combination of competencies, and other intangible assets. These alliances typically face a high level of risks in terms of undesired leakages of confidential knowledge or failure to achieve the expected development. Relational quality, an important consideration in all alliances, is particularly key. Without it, partners might not be open enough to combine their knowledge effectively with the partners’. This article proposes a framework for defining, assessing, and monitoring relational quality in co-development alliances.

    • video
    90 Seconds with . . . Alexander Landia

    90 Seconds with . . . Alexander Landia

    “The best thing about Russian managers is that they challenge everything and that they are trying to think through everything themselves in very much detail. That gives them a substantial advantage.” ESMT talked to Alexander Landia about differences between Russian and European managers, and about what influenced him most.

    Alexander Landia is Managing Director and Partner at Bernotat & Cie. From 2006–2011 he was Chairman of the Board of Siberian Coal Energy Company, the largest coal producer in Russia. He has a Dr. Rer. Nat. degree in Mathematics and is former Chancellery Minister to Georgia. Since 1993 he had a career in Germany with Dresdner Kleinwort Wasserstein and Accenture.

    • 3 min
    Costs and benefits of learning through alliances for entrepreneurial firms

    Costs and benefits of learning through alliances for entrepreneurial firms

    Due to resource constraints, startup innovators often struggle to assemble complementary assets for successful product commercialization. Alliances are an important avenue for startups to access resources and learn commercialization skills. However, an alliance structure that enables startup learning imposes costs on the alliance partner. Moreover, alliance partner quality is likely co-determined with complementary-asset learning potential in shaping alliance product performance. Using data from biotechnology alliances, we separately estimate the importance of partner quality and learning effects in explaining the drug approval hazard. We find that higher quality partners have a positive impact on product development success while alliance structures enabling startup downstream commercialization capability development have a negative effect. Innovators with cumulated learning experience are more likely to self-commercialize in future product development.

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