If status is everything, why settle for crumbs?
How much time does your company spend on the reputation game? A new study sheds light on the…
Institutt for strategi og entreprenørskap
Ubisch, Sverre Søyland & Wang, Pengfei (2023)
Industrial and Corporate Change Doi: 10.1093/icc/dtad014
Prior literature has long examined innovation as a recombination process within or across the boundaries of technological domains. However, limited attention is paid to boundaries per se. Building upon recent development of categorical contrast, this study distinguishes domains with crisp boundaries from those with fuzzy boundaries and examines their effects on innovation outputs. Analyzing a large sample of US patents, we find that spanning crisp boundaries is more likely to generate impactful inventions but at the same time leads to significantly higher recombinant uncertainty. We continue to explore what types of inventors are better able to span such types of domain boundaries. Focusing specifically on the role of inventors’ knowledge expertise, we find that while both knowledge depth and breadth enhance the impact of technologies that span crisp boundaries, knowledge breadth is also found to escalate the associated uncertainty. Our emphasis on the contrast of technological domains contributes to the literature on recombinative innovation and boundary spanning.
Ubisch, Sverre Søyland & Wang, Pengfei (2022)
Strategic Organization Doi: 10.1177/14761270221143984
While organization theorists have established the importance of typicality, most studies examine situations where producers and audiences dwell within the same category system (e.g., a country, industry, or market). However, much less attention is paid to the role of typicality when products are introduced from one system to another. Since defining what is typical is commonly system-specific, typical products in one category system may be perceived as being atypical in others. It is therefore important to understand how typicality shapes market exchanges when products traverse category systems. To shed light on this, we introduce two key concepts—home typicality and host typicality—and examine specifically how they affect the performance of products distributed across countries. By analyzing a large sample of films, we find that films are more successful in international markets, when they are more typical of their home countries and/or more atypical of their host countries.
Wang, Pengfei (2022)
Wang, Pengfei (2021)
This study draws attention to the embedding process of market entrants, by examining the initial and subsequent partnerships of de alio entrants versus de novo entrants. Although de alio entrants have access to superior resources from their parents, they may encounter more resistance from the market as they project impure identity, introduce different logics, and pose greater competitive threats. Analyzing a sample of new entrants in the venture capital market, we find that while de alio entrants are less likely to establish initial partnerships with mainstream incumbents (i.e. receiving an overall initial resistance from the market), they are more likely than de novo entrants to establish ties with high-status incumbents (i.e. gaining more initial endorsement from the core). Results also show that initial network positions allow de alio entrants to sustain gaining prestigious endorsement in the later period, and at the same time to offset the overall resistance from mainstream incumbents. Our findings contribute to the literature on market entry and corporate demography.
Wang, Pengfei (2019)
This study adds to the product innovation literature by emphasizing the important yet understudied role of price distribution in shaping product demography (i.e. new product introductions and exits). While prior research has focused on market niches in the technological and geographic spaces in order to explain product demography, price space has received very limited attention despite the important role of price in the market. We posit that product dynamics are largely shaped by the existing price distribution. More specifically, we argue that local density in price space determines both the likelihood of existing products exiting the market and the rate of new products entering it. Analyzing product exit and entry in the U.S. workstation industry from 1980 to 1996, we find that while price density increases an existing product’s exit rate, new products are also more likely to enter the niches where the price density is high. We also draw attention to internal price density within multiproduct firms, analyzing a product’s price distance from the other products launched by the same firm. We find that this type of internal price density decreases both existing products’ exit rate and new products’ entry likelihood. Our emphasis on price space contributes to the literature on product innovation and demography.
Wang, Pengfei (2018)
Journal of Business Venturing Doi: 10.1016/j.jbusvent.2018.12.001
Wang, Pengfei & Jensen, Michael (2018)
Management science, 65(2), s. 859- 878. Doi: 10.1287/mnsc.2017.2964
Wang, Pengfei (2018)
Uncertainty experienced by market audiences is the fundamental premise for status to take effect. Whereas prior research usually assumes that uncertainty is evenly distributed among audiences, this study emphasizes the heterogeneity of audiences. Audiences usually differ in the scope of firms they cover. They acquire more information and confront less uncertainty when evaluating firms under their coverage than those not. Status may thus exert different effects across audiences. My theoretical development is situated in the context of M&A. In particular, I hypothesize that although an acquirer's status is generally beneficial, it is more appealing to investors who do not cover the acquirer, as compared to covering investors. Results of the empirical analysis on the U.S. deals between 1990 and 2014 provide considerable support for my framework.
Wang, Pengfei; Van de Vrande, Vareska & Jansen, Justin (2017)
Research Policy, 46(10), s. 1836- 1850. Doi: 10.1016/j.respol.2017.09.002
Jensen, Michael & Wang, Pengfei (2017)
Academy of Management Journal, 61(3), s. 1021- 1049. Doi: 10.5465/amj.2015.0969
|2016||Rotterdam School of Management, Erasmus University Rotterdam||PhD|
|2019 - Present||BI Norwegian Business School||Associate Professor|
|2017 - 2019||BI Norwegian Business School||Assistant Professor|