IESE Business School - Tesis Doctorales y Tesinas

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    A means of managerial expression: Why ideology matters for management
    (2024-10-15) Robertson, W.A. (Winslow Ariel); Rodríguez-Lluesma, C. (Carlos)
    In this dissertation, I outline the intellectual history of ideology research within management and organizational studies then attempt to integrate previous theorizing around group interests to explore the effects of owner ideology on organizations around issues of race. The first chapter is a combination integrative review an hermeneutic study of the current dominant research stream on ideology In the second chapter, using an institutionally-created position from the National Basketball Association (NBA) – the “14th/15th player” slots that derive from requirements that all teams have no more than 15 players on their rosters but can only play 13 of them per game – my coauthors and I examinee how owner political ideology of privately held organizations interacts with race to yield preferential hiring/retention. Utilizing daily game data from NBA players from the 2000-2001 through 2019-2020 seasons, we find that White U.S. players face a hazard over 120 times greater than non-White U.S. players of being acquired as “14th/15th players” when the acquiring team’s owner is maximally conservative and that those same players face a hazard 96% lower when the owner is maximally liberal. We contend that these 14th/15th players can serve as sinecures for conservatives – i.e., “flexible offices with pay but few if any fixed duties” – allowing for differential hiring/retention treatment of White players based on ideology. The last chapter attempts to restore the occasionally dormant theoretical conservation between ideology and social movements by looking at the role of mega-threats in motivating platform activist responses to organizational owner actions. Using (née) Twitter data from National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players, we find utilizing a triple-difference estimator that a strategic, solitary tweet by a WNBA player had a 72% impact on in-state versus out-of-state political donations, offering a quantifiable estimate of how platform activists oppose certain organizational owners as a product of conflicting ideologies. Rather than treating ideology as separate from activism, we hope that these findings will push management and organizational scholars to understand how group attributes such as class that might inspire Top Management Team (TMT) ideological action going forward.
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    Estimating marketing's power via Improved meta-analysis: A deep dive into advertising effectiveness
    (2024-10-15) Korkames, J.P. (Joseph Pride); Klueter, T.M. (Thomas Maximilian); Stremersch, S. (Stefan)
    Marketing effectiveness is at the heart of all business success. Firms spend more on advertising than almost any other marketing activity. Research findings and insights regarding marketing effectiveness, including advertising effectiveness, are varied and conflicting. Meta-analysis has become an increasingly popular and indispensable tool in marketing research aimed at discerning robust generalizations across studies in heavily researched topics. However, current meta-analytic methods recommended by and utilized in marketing lag behind those of other fields, leading to inaccurate effect estimates and incorrect inferences related to heterogeneity in effect: What meta-analytic methods are currently utilized in marketing? What methods should be used? What is the effect of superior meta-analytic methods on important topics related to marketing effectiveness such as advertising? What are typical advertising effect estimates and the relevant heterogeneity for both brand (primary demand) and category (secondary demand) advertising elasticities? What findings are suggested by prior meta-analytic and non-meta-analytic research in marketing effectiveness instruments and indicators—such as elasticities—and how can these indicators be used by practitioners? In this dissertation, I focus on understanding, distilling, and expanding collective knowledge in the area of marketing effectiveness through research on marketing effectiveness instruments and indicators as well as understanding and improving marketing meta-analytic estimation, in both cases predominantly concentrating on advertising as an outset. In the inaugural chapter, I meticulously dissect and outline the prevalent meta-analytic biases researchers should be cognizant of, compare recent historical meta-analytic methods and their application in marketing, and provide a comprehensive guide to robustly conducting meta-analyses in the field. In this research I (a) show that current meta-analytic methods in marketing are lagging behind other fields and that marketing still primarily relies on inferior methods and (b) provide a framework for future meta-analyses in marketing to follow. In the second chapter I pivot to a pragmatic application of the advocated methods detailed in the first chapter, concentrating on brand advertising effectiveness. This involves a thorough meta-analysis and review of antecedent studies, identifying significant reductions in effect due primarily to previously unaccounted for publication-selection bias. Through this research I find and correct for significant misspecification, aggregation, publication, and selection biases present in the advertising effectiveness literature and provide important updates regarding the size of brand advertising elasticities, resulting in estimates that are approximately 5-6 times smaller than those indicated by prior meta-analytic studies. In the third chapter, I carry out a more comprehensive advertising effectiveness meta-analysis by amalgamating brand and category elasticities in a more expansive, broader database. Through this research, I provide the first generalizable estimates of category advertising elasticities; show the usefulness of pooling primary and secondary advertising elasticities to expand heterogeneity analyses and allow for increased sophistication in terms of the number model conditions that can be incorporated; and estimate condition-specific effects for various brand and category advertising scenarios. Through supplementary chapters 4 through 5, I fortify the foundation by discussing price, advertising, and related elasticities as well as their uses and implications for practice from both a meta-analytic viewpoint and a general perspective. Taken together, the findings of my dissertation advance our understanding of marketing effectiveness and provide a path for improving meta-analytic estimation in marketing. In Chapter 1, I show that methods in marketing and advertising research lag behind other fields while drawing a clear path forward. In Chapter 2, I demonstrate that path in the context of a central topic in marketing effectiveness, brand advertising elasticities, while providing evidence of the presence of significant biases and overestimated brand effects in this literature stream, leading to updated brand advertising elasticity estimates. In Chapter 3, I estimate generalizable effects for primary demand advertising elasticities and showcase the benefits of and heterogeneity in a broad advertising meta-regression model that can be used to estimate both primary demand and secondary demand advertising effects under a variety of contexts and conditions. Finally, in Chapters 4 and 5, I distill prior findings in regard to the uses of advertising and other marketing instrument and indicator elasticities and detail how practitioners can utilize these indicators to improve marketing strategy.
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    Innovation and exports as growth strategies
    (2024-07-05) Xia, D. (Dandan); Wehrheim, D. (David); Cassiman, B. (Bruno)
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    Meaning made well: An inquiry into the meaningfulness of modern work
    (2024-06-28) Nguyen, T.P. (Thien Phu); Raes, A. (Anneloes)
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    With feelings in mind: The role of affect in social perception, decision making, and choice
    (2024-06-28) Kochanowska, E.J. (Ewa Julia); Reutskaja, E. (Elena)
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    Scandal, synergy, and sexism: Three essays on decision-making dynamics in the organization context
    (2024-06-28) Bao, S. (Shiyao); Hafenbrädl, S. (Sebastian); Raes, A. (Anneloes)
    This dissertation navigates the intricate landscape of decision-making within organizational contexts, shedding light on the complexities inherent in three distinct yet interrelated areas: corporate scandals, ecosystem investments, and sexism attributions. In this dissertation, I take the opportunity to study interesting questions within this domain through the lens of Organizational Behavior and Decision Science. In chapter 1, I investigate the intriguing phenomenon where certain corporate scandals not only fail to erode reputation but lead to increased public support. Drawing on concepts of rivalry, schadenfreude, and moral disengagement, I explore the psychological conditions underpinning public reactions to scandals. In chapter 2, I explore critical factors influencing risk calibration, such as the representation of chances in terms of frequencies and framing risky components as completed in the past. This paper challenges prevailing notions of risk perception in interdependent contexts. In chapter 3, I delve into the intersection of sexism and rudeness, challenging the concept of an “equal opportunity defense”. I explore how rudeness towards men complicates sexism attributions and unexpectedly amplifies punishment. Methodologically, I primarily utilize experimental methods to establish causal relationships. In sum, these three papers contribute to our understanding of decision dynamics in organizational contexts, offering nuanced insights into scandal management, risk perception in investments, and the complex interplay of rudeness and sexism attributions.
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    Three essays on corporate finance and banking
    (2024-06-27) Ye, Z. (Zhiqiang); Vives, X. (Xavier); Eufinger, C. (Christian)
    This dissertation studies the unexpected equilibrium effects of efficiency improvements in the financial sector. Chapter 1 focuses on the increase in speculators’ information acquisition efficiency in stock markets, while Chapters 2 and 3 look at the FinTech disruption in credit markets. Chapter 1 investigates the influence of the decrease in speculators’ information acquisition costs on corporate real efficiency within a model where firms learn from stocks and speculators’ information acquisition consumes their attention. It shows that, when information is inexpensive, speculators will use up attention. Then, decreasing speculators’ information costs can reduce corporate efficiency and social welfare. Chapter 2 studies how information technology (IT) improvements affect lender competition, entrepreneurs’ investment, and welfare in a spatial model. The effects of an IT improvement depend on whether it weakens the influence of lender–borrower distance on monitoring costs. If it does, it has a hump-shaped effect on entrepreneurs’ investment and social welfare. If not, competition intensity does not vary, improving lender profits, entrepreneurs’ investment, and social welfare. Chapter 3 studies fintech entry and how it affects competition, investment, and welfare in a spatial model. It shows that fintechs with inferior monitoring efficiency can successfully enter because of their superior flexibility iii in pricing. As a result, fintech borrowers are more likely to default than bank borrowers with similar characteristics. Fintech entry may induce banks’ exit and reduce investment; however, it will increase investment if inter-fintech competition is intense enough. Fintech entry will improve welfare if fintechs have high monitoring efficiency and inter-fintech competition intensity is intermediate.
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    From Shakira to Van Gogh operations for the world of culture
    (2023-10-31) Deshmane, A. D. (Abhishek Dinkar); Martínez-de-Albéniz-Margalef, V. (Víctor)
    Cultural markets, that cover industries like music, art, tourism, etc., have always been both economically and socially significant in the world. Due to the wave of digitization in these markets, large-scale data on production and consumption of such products and experiences has made studying interesting dynamics of this sector more possible than before. In this dissertation, I take the opportunity to study interesting questions within this domain through the lens of Operations Management. The research questions explored here can be classified into two major thematic categories: (I) Product Innovation and Diffusion, and (II) Sequential Consumption of Experiences, each constituting of three chapters. While we specifically explore the first class of questions within the music industry, the insights related to new product development and product positioning in the cultural sphere can be extrapolated to other markets. The second part of the dissertation focuses on the notion of curating better experiences for consumers by studying the inter-temporal relationships between unique activities in consumption streams. Here, we explore the museum sector, tourism sector, movie, music, and book consumption. The theoretical contributions of this dissertation involve establishing synergies between the substreams of service and people-centric operations, which are necessary to capture the creative aspects and subjective experiences inherent to the cultural sector. Methodologically, I primarily utilize empirical models that employ retrospective and experimental data to establish causal relationships. To produce research with real-world implications and a wide external validity, several elements of this dissertation have been produced through collaborations with multiple industry leaders like the Van Gogh Museum and Deezer. This dissertation concludes by highlighting the insights from the six chapters and with a discussion on potential future avenues for research on cultural markets.
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    "The Time it Takes”: Knowledge search and innovation breakthroughs
    (2023-10-31) Marchesini, G. (Giacomo); Valentini, G. (Giovanni); Ferraro, F. (Fabrizio)
    Innovation is not an overnight phenomenon. Instead, it is a complex and time-consuming process that requires exploring new concepts, developing theories, experimenting, and accepting failures. This dissertation aims to investigate the temporal aspects of the knowledge search process by focusing on three crucial elements: persistence, time pressure, and the time required to appropriate the value of an invention. The first chapter delves into the concept of persistence in the search process, challenging the conventional wisdom that failure should be abandoned and proposing how persisting in a failing course of action can eventually lead to a successful outcome within the same flawed idea. The second chapter explores the impact of external time pressures on the search process of firms. This study examines how companies adapt their knowledge search strategies to meet time constraints. Finally, the third chapter investigates the temporal disparity between generating and capturing value from breakthrough inventions. Overall, this thesis shed new light on the role of time in the knowledge search process and the development of breakthrough innovations.
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    Essays on how investors read, remember & react to news
    (2023-09-20) Das, N. (Nishant); Raponi, V. (Valentina); Antón, M. (Miguel)
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