Opportunity and constraint: organizations' learning from the operating and competitive experience of industries

Article Abstract:

A study examined the influence of organizations' own experience and two types of industry experience on their tendency to fail. This research focused on the different experiences in the American hotel chain industry between 1896 and 1985. Findings revealed that organizations benefit from minimal levels of their own operating experience but tend to suffer from great amounts of own experience. Own experience was also found to have a greater impact for specialists than for generalists. In contrast, organizations were revealed to profit from the industry's operating experience as well as its competitive experience. They are also affected positively by the operating experience of the industry before and after they entered the business. Finally, results found that franchisor experience before their founding has a positive impact on learning in hotel chains.

Hotels & Motels, Hotels (except Casino Hotels) and Motels, Hotels and motels, Organizational effectiveness, Experiential learning

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Calls on high-technology: Japanese exploration of venture capital investments in the United States

Article Abstract:

Japanese venture capital firms operating in the US follow an option strategy that permits the acquisition of promising new technologies at relatively little cost. The option strategy entails a two-part investment process. The first step involves a modest initial investment that gives the Japanese venture capital firm an option to acquire the new technology in the future. The second step involves a substantial follow-up investment should the new technology prove to be commercially viable. A comparative study of Japanese and US venture capital firms confirms the existence of this option strategy. The study also reveals that US venture capital firms commonly adopt a project strategy that stresses investment gains rather than technology acquisition.

Investors, not elsewhere classified, High technology industry, Japan, Finance, Investments, Venture capital companies, Corporations, Corporations, Japanese

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An empirical analysis of the determinants of global integration

Article Abstract:

The industrial factors that produce returns to transnational integration were studied. Intrafirm trade was used to measure integration across 56 US manufacturing firms. Statistical results indicated that technological and advertising intensity and internationalization were significant determinants of integration. Manufacturing scale was not significant. The results imply that the main determinant of cross-border integration is technology, and that too much importance has been placed on manufacturing scale.

Manufacturing industry, Manufacturing industries, International aspects, Management

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