Conference Agenda

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Session Overview
Session
21-PM1-08: ST11.3 - Organizing the Energy and Ecological Transition: Managerial Challenges for Scholars and Practitioners
Time:
Friday, 21/Jun/2019:
1:00pm - 2:30pm

Session Chair: Julie Mayer, PSL, Université Paris-Dauphine
Session Chair: Mathias Guérineau, University of Nantes
Location: Amphi Lagarrigue

Session Abstract

The energy and ecological transition (EET) can be understood as the emergence and exploitation of technological innovation(s) (e.g. hydrogen mobility, smartgrids, …) and societal innovations (e.g. circular economies, sobriety models, new forms of democracies...), that intend to tackle climate change. Despite decades of innovative efforts, our societies still face crucial managerial challenges to propel and concretize those innovations, as they rely on changes of paradigm, claimed and driven by heterogeneous actors with different visions and interest. This track thus aims at better understating the EET. challenges and opportunities at the level of organization, in all their varieties (large companies, technological start-ups, public or private research institutes, etc.). In our session, we will try to better understand what EET represents and involves in terms of strategy and management.

We will analyze this general problem across three levels of analysis :

- At the macro level, the EET relies on a plethora of technological and societal innovations, which may significantly transform existing markets, industries and ecosystems (e.g. energy, transport, food, etc.), or create new ones such as renewable energies. As the trajectory of those transformations remain uncertain (and sometimes controversial), we welcome submissions that unfold questions such as: what models and mechanisms of value creation and capture can be derived from EET innovations (e.g. what new business model)? What are the triggers and obstacles of their development? How can those transformations be coordinated at the macro-level?

- At the meso level, the EET involves specific forms of collective actions and discourses, either to carry, to support or to resist to innovations. Public authorities, private organizations and citizens engage into new practices that enact the EET (e.g. local citizen initiatives, industrial lobbying, coopetition, open innovation, etc.). What are those new forms of collective actions and discourses? How do they shape EET trajectory? What managerial issues do they bring?

- At the micro level, the EET requires on the ability to involve, to influence or to change individuals’ behaviors. Therefore, we seek to better understand the determinants of individual perceptions and behaviors toward societal and technological innovations related to the EET: why individuals may or may not agree to change their behavior or practices? What are the determinants of societal and technological adoption or resistance that drive EET? To which extend can individuals be involved in the deployment of energy or ecological solutions? Those questions can be analyzed in terms of technological adoption and use, incentives to change behavior, risk perception, decision-making determinants, etc.

All contributions (theoretical and empirical) from academic research or professional testimonies will be studied with interest. We recall that the main objective is to better understand what the energy and ecological transition implications from a management science perspective.


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Presentations

Agenda 2030: Board of Directors and Firm Sustainability Performance

Valeria Naciti, Fabrizio Cesaroni, Luisa Pulejo

University of Messina, Italy

Context

Business sustainability is based on the idea that companies must take responsibility for the environmental, social and economic impacts generated by their activities, even beyond the requests of their stakeholders. A fundamental step is to improve the current corporate governace stategies for the implentation of Sustainable Develpment Goals.

Literature

In September 2015, the United Nations approved the Global Agenda for Sustainable Development to be achieved by 2030.

The 2030 Agenda requires a strong involvement from the private and public sector. Companies all over the world are called upon to make an important contribution to the regiment of SDGs through new business models. Only a strategic planning path that harmonizes and synchronizes all the factors of sustainability can allow companies to integrate the SDG into their businesses.

In recent years, corporate governance scholars are increasingly focusing their studies on the characteristics of a BoD. The board of directors should ensure an efficient control of the management's work to adequately support the decision-making process. Strong corporate governance can be a valuable tool to mitigate agency problems and encourage managers to operate properly.

Literature Gap

While literature has widely acknowledged the importance of the composition a board of directors on corporate financial performance financial performance, a gap of knowledge persists on the relationship between sustainability performance, that only recently has been considered as another firm’s overall performance.

Research Questions

Does the composition of a board of directors have a greater effect on sustainability performances?

Methodology

A quantitative analysis was performed using a system-generalized method of moments (SGMM) two-step estimator to determine the relationship between the BoD and sustainable performance. Our empiri-cal analysis supports the existence of such an effect.

Empirical Material

The sample used in this study is comprised of 362 large companies in 46 countries. The period of analysis is from 2013 to 2016. The Sustainalytics Platform database was used to extract data for the dependent and independents variables. Sustainalytics is a global leader in ESG research who spe-cializes in providing data for the world’s foremost investors. This database provides 199 items for eight sections: business ethics, corporate governance, employees, the environment, controversial ac-tivities, the supplier, the customers, and the community. Every item is rated on a scale from 0 (worst) to 100 (best), and a final Environmental, Social, and Governance (ESG) score is built with the sum of weighted averages from each item. The information to build scores is extracted from multiple sources such as financial accounts, company documentation, databases, and interviews. . Scholars consider this database suitable for management studies as it uses a strong, reliable, and complete methodology in its framework.

The database was then completed with financial information from Compustat Global Vantage for the control variables.

Results

In line with the Agency Theory, we find that the separation of board chair and CEO roles en-hances sustainability performance.Consistent with Stakeholder Theory we find that board diversity has a significant impact on sustainabil-ity performance. Our results also confirm the study Zhang, Zhu and Ding (2013), who suggest that a more diverse board provides valuable resources and should improve a firm’s performance.

Contrary to our expectation we find a negative relationship between independent directors on a board and SP. This result supports the study of Bansal et al., 2018. They show that the behavior of independent directors can be influenced by reputational risk. This risk can arise in the context of CSR disclosure decisions. The information that the independent directors receive from the management can be manipulative and misleading.

Moreover, The results confirm that the board diversity is significant associated with both social and environmental dimensions. This because the female directors and foreign directors are attentive to shareholders ‘interest, they can be more in tune with relational sustainability strategies.

Contribution to Scholarship

Our results contribute to sustainable development and corporate governance literature on multiple fronts. First, we showed that the composition of the BoD influences sustainability performance and the efficiency of corporate governance mechanisms which then allow for the integration of sustainable development goals. Secondly, our sample included companies from 46 countries that differ in their approaches to promoting sustainable development and board diversification. Lastly, we conducted a study using a dynamic model in order to take into account the complex interactions between the BoD and sustainability performance, and to answers to the call of Rao and Tilt (2016), which suggest longitudinal analysis in the study of board composition.

Contribution to Practice

Exploring empirically the relevance of corporate governance strategies on sustainable development. Knowing more about the relationship between the composition of a board of directors and social and environmental performance by clarifying that companies play a central role in global development, and along with the many other economic actors, they must be considered as development agents. In terms of strategy and planning, a BoD should act to support sustainable development along the entire supply chain. SDGs can only be achieved if adequate and prepared administrators are part of an effective governance system.

Fitness

Sustainable Developmen is the 2019 R&D management conference theme. Our in-depth empirical analysis on the relationship bettween the composition of a board of directors on sustainability performance offers an original perspective of the transition between research and corporate governance practices.

Bibliography

Allegrini, M., Greco, G., 2013. Corporate boards, audit committees and voluntary disclosure: evidence from Italian Listed Companies. Journal of Management and Governance. 17, 187–216. doi : 10.1007/s10997-011-9168-3.

Alvarez S.A., Barney J.B., 2004. Organizing rent generation and appropriation: toward a theory of the entrepreneurial firm. Journal of Business Venturing. 19, 621- 635.

Barako, D. G., Hancock, P., Izan, H. Y., 2006. Factors influencing voluntary corporate disclosure by Kenyan Companies. Corporate Governance: An International Review. 14: 107–125.

Haniffa, R. M., Cooke, T. E., 2005. The impact of culture and governance on corporate social reporting. Journal of Accounting and Public Policy. 24, 391–430. doi:10.1016/j.jaccpubpol. 2005.06.001.

Hussain, N., Rigoni, U.; Orij, R. P., 2018. Corporate Governance and Sustainability Performance: Analysis of Triple Bottom Line Performance, Journal of Business Ethics. 2, 411-432.

Kravet, T., Volkan M., 2013. Textual risk disclosures and investors’Mrisk perceptions. Review of Accounting Studies. 18, 1088–122.

Rao K., Tilt C., 2016. Board diversity and CSR reporting: an Australian study. Meditari Accountancy Research. 24, 182–210.

Shashank B., Maria Lopez-Perez M., Lazaro Rodriguez-Ariza L., 2018. Board Independence and Corporate Social Responsibility Disclosure: The Mediating Role of the Presence of Family Ownership. Administrative Sciences. 8, 33-57.

Surroca, J., Tribo, J. A., Waddock, S., 2010. Corporate responsibility and financial performance: The role of intangible resources. Strategic Management Journal. 31, 463-490.

Zhang, J. Q., Zhu, H., Ding, H.-B., 2012. Board Composition and Corporate Social Responsibility: An Empirical Investigation in the Post Sarbanes-Oxley Era. Journal of Business Ethics.



How latecomers catch up in the energy and ecological transitions: the case of Chinese electric vehicle industry

Shuyan Zhao1, Jie Xiong2, Jie Yan3, Haohuan Fu4,5

1University of Bath; 2Rennes School of Business; 3Grenoble Ecole de Management; 4Tsinghua University; 5National Supercomputing Center in Wuxi

Context

The Chinese central government regards the electric vehicle (EV) industry as a major means to achieve nationally sustainable developments. It is worth studying when and what factors trigger technological catching up and market exploitation during the energy and ecological transitions from the traditional fuel automobile industry to clean energy one.

Literature

The industry-level catching up strategy means that domestic firms in emerging countries as latecomers close the gaps to the foreign incumbents, by foreign direct investment, imitation, government intervention and heavy investments in the improvement of capabilities and resources (Kumaraswamy et al., 2012). Malerba (2004) points out that the sectoral innovation system consists of several interacted elements, core technologies, key market knowledge, market demand, government policies as well as supply chain actors. The system would upgrade by time and continuously changes to keep generating more windows of opportunities.

Recent research shows that windows of opportunity (WOP) play an important role in catching up (Lee and Malerba,2017; Yap and Truffer, 2018). Established studies (such as Perez and Soete, 1988) identify the antecedents of WOP, including discontinuous technologies, dramatic changes in market demand, changes in policies, the interaction among technology, demand, and policies, industrial network innovation or differentiated framework innovation.

Literature Gap

The paper selects the catching up process of the Chinese EV industry to fulfill the research gap on how to seize and utilize the WOP to catching up in a newly emerged industry of emerging markets in the global environment.

Research Questions

What factors trigger the emergence of the WOP and how practitioners seize the WOP in the catching up process of the Chinese EV industry?

Methodology

We follow the method of case study to provide a better understanding of the research phenomenon (Eisenhardt, 1989). We conduct a qualitative inductive analysis based on the grounded theory (Glaser and Strauss, 1967) for data analysis. We taped the semi-structured interviews, and then translated the salient ones into English, following the procedures of back translation (Brislin, 1970) and established the coding terms to analyze the responses from selected firms and figure out their current catching up strategies. By data analysis, we summarized the periodical characteristics and categorized the periodization of EV industry within a chronological frame.

Empirical Material

Our research context is the Chinese electric vehicles (EV) industry, consisted of domestic and foreign groups. Our sampled domestic EV firms are BYD (14.89%), BAIC (4.84%), Geely (14.04%) and Chery (2.10%) (China Automotive Technology & Research Center, 2016), while the sampled foreign firms are: BMW (Germany), Tesla (United States), Toyota (Japan) and Volkswagen (Germany). These two groups are selected not only due to the difference between the country of origin effect (Fortanier and van Tulder, 2009) but also because of the similarity of their technological competence, market experience, and production capacity.

Our data source consists of three parts, semi-structured interviews, field observations, and archival data. We conducted 30 semi-structured interviews from April to July 2018. The informants include industry experts (managers in the consulting department and account managers that are knowledgeable at EV firms), marketing department (store managers; retail managers), managers of suppliers (clerks that in charge of sourcing). Our archival data are mainly obtained from 311 national archival reports and policy documents, 16 industrial reports, 10 media editorials, and 22 articles from patents databases.

Results

The paper examines three antecedents of EV catching up: imitation, government intervention, and local advantages. Results indicate that WOP appeared in the introduction stage (recognize WOP in 2001 and breakthrough WOP in 2005) and the turning point from the introduction stage to the growth one (extend WOP in 2010 and general catch up in 2015) in the industry lifecycle of the Chinese EV market.

Results also show the collective actions and discourses: selected foreign auto firms strategically register EV patents in China and mainly employ intermediate entry modes (joint ventures or strategic alliances) with local auto firms and all target middle- or high-end EV market; domestic latecomers mainly adopt path-following strategy (Lee and Lim, 2001) to achieve technological catching up. They also invest heavily in innovation capabilities to decrease technology dependence and enhance competence. Domestic EV latecomers heavily rely on Chinese government financial and technological supports and local advantages to gain costs advantages while employing low-end disruption strategy (Christensen, 1997).

Our study also summarizes the current managerial challenges for sustainable development of Chinese EV industry: inadequate capabilities to acquire advanced technology, trade barriers for foreign incumbents, challenges for motivating EV purchases and excessive capacity expansion in EV production.

Contribution to Scholarship

Our study summarizes that windows of opportunities of the Chinese EV industry show three key features: diversity, dynamics, and complexity. Based on the macro-level and meso-level analysis, the study summarizes the periodization of the changes in national EV policies, EV market demand and EV technology. We examine the importance of the time scope of WOP for government and firms to recognize, breakthrough, extend WOPs to describe how dynamic changes in these three factors motivate catching up.

The study illustrates the complexity of WOP. On one hand, it can be solely stimulated by one factor, like BYD’s disruptive innovation or differentiated framework innovation (Zhu et al., 2011). On the other hand, it can be stimulated by the interactions of two or three factors. For instance, during 2015- 2018, government EV purchases and infrastructure construction program, and innovative applications by Tesla and BAIC prompt the extension of market demand window.

Contribution to Practice

Results show that government intervention is the main driver of the development of Chinese EV technology and market. We summarize four managerial challenges: 1) lag-behind industrial capacity for the domestic market to acquire the advanced EV technology, 2) trade barriers for foreign EV incumbents such as ineligible for government subsidies and stringent government requirement of technology transfer to domestic firms, 3) main challenges for market exploitation: high batteries costs, inadequate charging time and lag-behind charging points infrastructure constructions and 4) excessive capacity: excessive government incentives lead to EV overproduction, urgently questioning the batteries recycles and cleanness of energy (Xinhuanet, 2018).

Fitness

Our study provides a valuable empirical example of how to trigger and manage the energy and ecological transitions. This paper offers a further understanding of the collective actions and discourses of foreign and domestic EV firms in terms of new-energy vehicle technology development and marketing strategies and their managerial challenges.

Bibliography

Brislin, R.W., 1970. Back-translation for cross-cultural research. Journal of cross-cultural psychology, 1(3):185-216.

CATARC. Automotive Data Center Database of China Automotive Technology and Research Center. Tianjin China, 2016.

Christensen, C.M., (1997) The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail. Harvard Business Review Press.

Eisenhardt, K. M. (1989). Building theories from case study research. Academy of Management Review, 14(4), 532–550.

Fortanier, F. and Van Tulder, R. (2009). Internationalization trajectories—a cross-country comparison: Are large Chinese and Indian companies different? Industrial and Corporate Change, 18(2): 223–247

Glaser, B. G., and Strauss, A.L. (1967). The Discovery of Grounded Theory: Strategies for Qualitative Research. Aldine, New York.

Kumaraswamy, A., Mudambi, R., Saranga, H., and Tripathy, A., 2012. Catch-up strategies in the Indian auto components industry: Domestic firms’ responses to market liberalization. Journal of International Business Studies. 43(4):368–395

Lee K, and Lim C. (2001) Technological regimes, catching-up and leapfrogging: findings from the Korean industries. Journal of Research Policy, 30(3):459–483.

Lee, K. and Malerba, F. (2017). Catch-up cycles and changes in industrial leadership: Windows of opportunity and responses of firms and countries in the evolution of sectoral systems. Journal of Research Policy,46(2):338-351

Malerba, F. (2004) Sectoral systems of innovation: concepts. In: Issues and analyses of six major sectors in Europe. Cambridge University Press, New York, N.Y.

Perez, C., Soete, L., (1988). Catching-up in technology: entry barriers and windows of opportunity. In: Dosi, G., Freeman, C., Nelson, R., Silverberg, G., Soete, L. (Eds.), Technical Change and Economic.

Yap, X. and Truffer, B., (2018). Shaping selection environments for industrial catch-up and sustainability transitions: A systemic perspective on endogenizing windows of opportunity. Journal of Research Policy.

Xinhuanet (2018). Emerging excessive capacity in new energy vehicle industry-Breakthrough of Key technology is needed [online] Xinhuanet.com. Available at: http://www.xinhuanet.com/fortune/2018-11/29/c_1123781873.htm [Accessed 10 Mar. 2019].

Zhu, R. Liu, Z. and Liu, Y. (2011). The innovation in Framework, the Ecological Optimization and the Great Leap Forward of Latecomers Firms: A Theoretic Exploration Founded on the Innovational Practice of the companies: BYD, MTK, Huawei, and ZPMC. Management World. 7:69-97



Transitioning from fossil fuels to cities. The case of Engie Business to Territories strategy

Jean Danielou

PSL, France

Context

My research focuses on the depiction of Engie's strategy shift and reorganization, since 2016, to reach new sustainable markets and to get rid of fossil fuel dependency. I lead this ethnographic study in the newly created Business to Territories (B2T) business line.

Literature

The perspective adopted in my work is grounded on Science Technology Society (STS) literature to depict the instrumented crossed-processes of deconnection from the fossil fuel industry and the framing of new markets/connection to a new industrial horizon. I use Timothy Mitchell (2011) to analyze the instrumentation of energy companies to count with or without environment and climate. I refer to Michel Callon (1998, 2013, 2017) as a conceptual framework to analyze the making of markets.

Business history literature offers both advantages of retrospective and comparative analysis of other energy companies strategy to deal with environmental issues and strategy shift. Keetie Sluyterman monography on the Royal Dutch Shell (2010), and Ans Kolk and David Levy comparative analysis of BP, Shell, ExxonMobil and Texaco (2001) help qualifying energy sector composition and transformations under climate change regime.

Literature Gap

Depiction of Engie repositioning strategy towards territory, named B2T, opens the opportunity to describe an undocumented strategic shift of an energy company in business literature.

Research Questions

- How does an energy company count with climate change?

- How does an energy company frame a new market (B2T)?

Methodology

The qualitative methodology used to depict Engie strategy is based on complete immersion in the Business to Territories (B2T) business line as an employee and is completed with dedicated interviews.

Empirical Material

- Strategy documents: Capital Market Days (strategy presentation to Engie's investors), Strategy Talks (internal presentation of Group's strategy); power point presentations + talk transcription

- Market documents: Mergers and Acquisitions (M&A) and divestment announcements (Group internal note + Financial Times), stock prices evolution (Financial Times)

- Ethnographic journal: document synthetizing observations; word, +100 pages

- Interviews: 15 interviews

Results

The envisaged results of this research are the ethnographic depiction from the inside of the concrete means and instruments used by an energy company to perform an exit strategy from fossil fuels and projection towards new development horizons.

Contribution to Scholarship

The main expected scientific contribution of this research is to understand how companies territorialize their action. Analyzing the crossed-processes of exit from fossil fuels sector and entry in the urban market (B2T) questions the territorial mode of existence of a company. Indeed, to develop its B2T strategy, Engie needs to "de-territorialize" (Deleuze and Guattari, 1980) its presence from subterrean areas to "re-territorialize" it in cities. The depiction of this territorialization process will also contribute to a new understanding of private companies involvment in the urban fabric.

Contribution to Practice

The main contribution to practice of this research is the development of an in situ depiction of the observed situation not as an external observer but as an employee of the firm. Apart from traditional questions like data confidentiality, this specific situation questions the conditions of possibility of a reflexive practice in daily life (Smith, 2005, 2018)

Fitness

This contribution highlights how an energy company strategy tackle climate change and sustainability issues by questioning the concrete means used to "transition" from the world of fossil fuels to the "zero-carbon" world.

Bibliography

- Timothy Mitchell, Carbon Democracy : Political Power in the Age of Oil, Londres/New York, Verso, 2011

- Michel Callon, Laws of the Markets, Londres, Wiley-Blackwell, 1998

- Michel Callon, Sociologie des agencements marchands, Presses des Mines, 2013

- Michel Callon, L'emprise des marchés : comprendre leur fonctionnement pour pouvoir les changer, La Découverte, coll. « Sciences humaines », 2017

- Keetie Sluyterman, “Royal Dutch Shell: Company Strategies for Dealing with Environmental Issues”, Business History Review, n°84, 2010

- Ans Kolk et David Levy, “Winds of Change: Corporate Strategy, Climate change and Oil Multinationals”, European Management Journal, Volume 19, 2001

- Gilles Deleuze, Félix Guattari, Capitalisme et schizophrénie 2, Mille Plateaux, Minuit, 1980

- Dorothy Smith, L'ethnographie institutionnelle, une sociologie pour les gens, AltaMira, 2005, Economica, 2018



Turning hydrogen into a market: A study of hydrogen ecosystem strategies in France

Guérineau Mathias1, Mayer Julie2

1University of Nantes, i3/CRG IPF, France; 2University of Paris Dauphine, France

Context

As a controversial pillar of the energy transition, hydrogen is facing challenges to generate a market. Pushing for favorable policy frameworks and triggers for scale economies, industrial and institutional actors are developing collective strategies, leading to a plethora of ecosystems. However, pathways of development of hydrogen markets remain unclear.

Literature

Ecosystems refer to a collective structure emerging between a set of actors who need to interact to materialize a value proposition (Adner, 2017). Ecosystems have raised a particular interest in research on energy transition strategies. Indeed, the complexity and uncertainty of energy challenges create a need for coordinated actions between various industries and stakeholders (Ansari et al, 2016; Eisenhardt et Hannah, 2017). To further explore the process through which ecosystem activities transform a technology into a market, we draw on the literature on market creation.

Market creation or “marketization” (Mason & al, 2017) refers to the process that enables the conceptualization, production and exchange of goods (Araujo & Pels, 2015). It encompasses actors’ efforts to transform market structures, to introduce devices (Kjellberg, Azimont, & Reid, 2015), or to alter behaviors (Doganova & Karnøe, 2015). Those efforts can be deployed individually or through a coordinated network (Onyas & Ryan, 2015).

Literature Gap

Despite existing research, we still know little about the mechanisms of market generation allowed by ecosystems. In particular, there is a need to better understand how practices derived from collective configuration generate multiple types of values from an innovative technology, while allowing their scaling up.

Research Questions

Therefore, this research addresses the following question: how can configurations of ecosystems transform hydrogen, as an innovative technology, into a market?

Methodology

We conducted a theory-building, multiple-case study (Eisenhardt and Graebner, 2007), since there is so far limited theoretical insights on this research object. Moreover, multiple-case study is particularly relevant for our research question, as it requires the systematic comparison of a variety of ecosystems. The study encompasses fifty hydrogen projects developed from 2013 to 2018 in France.

Empirical Material

We conducted a theory-building, multiple-case study of fifty hydrogen projects developed from 2013 to 2018 in France. We collected data from press and external communication documents on hydrogen projects. Data were analyzed in three stages. First, we build of a database derived from our theoretical framework. For each hydrogen project, we collected descriptive information on 5 dimensions. Second, we performed an inductive coding within each dimension, to build a taxonomy of ecosystems’ main characteristics and market creation practices. Finally, we carried an axial coding to identify configurations of H2 projects and their relations with market creation mechanisms.

Results

Findings present the configurations of H2 ecosystems resulting from the combination of the three features that emerged from the analysis (value proposition, scope of the value chain, governance). First, we found three types of value propositions engineering-driven value, business-model-driven value, territory-driven value. Second, the scope of the value chain encompassed in H2 projects can vary, focusing either more on production, distribution, uses, or integrating the three stages in a logic of “virtuous” cycle. Third, governance here refers to the structure of H2 projects in terms of members’ leadership and sources of financial support. For each configuration, we expose the marketization mechanisms, according to three dimensions (targeting, unlocking, scaling up).

Contribution to Scholarship

This study aims at contributing to a better understanding of practices performed by ecosystems’ actors, at different levels (strategic, operational, and institutional), through which they intend to generate a market. We provide insights on how such ecosystems coordinate (Doganova & Karnøe, 2015) or how they elaborate market devices to create value (Cochoy and Dubuisson-Quellier, 2013).

Contribution to Practice

Our study provides two main insights that contribute to enlighten industrials’ strategic decisions and public policies or investments. On the one hand, our taxonomy of ecosystem configurations allows to draw a clearer vision of possible pathways of development for hydrogen within the energy transition. On the other hand, we shed light on mechanisms of value creation and scaling up that can be encouraged by public authorities and industrial actors.

Fitness

This study brings new insights for research on technology and innovation management, by addressing a case of “chicken-or-egg” dilemma stage in an innovative technology’s trajectory. Furthermore, this research settles in the energy transition field, which constitutes an important and promising agenda of research with both practical and academic implications.

Bibliography

Aarikka-Stenroos, L., & Sandberg, B. (2012). From new-product development to commercialization through networks. Journal of Business Research, 65(2), 198-206.

Adner, R. (2017). Ecosystem as structure: an actionable construct for strategy. Journal of Management, 43(1), 39-58.

Ansari, S., Garud, R., & Kumaraswamy, A. (2016). The disruptor's dilemma: TiVo and the US television ecosystem. Strategic Management Journal, 37(9), 1829-1853.

Araujo, L., & Pels, J. (2015). Marketization and its limits. Decision, 42(4), 451-456.

Cochoy, F., & Dubuisson-Quellier, S. (2013). The sociology of market work. economic sociology_the european electronic newsletter, 15(1), 4-11.

Doganova, L., & Karnøe, P. (2015). Building markets for clean technologies: Controversies, environmental concerns and economic worth. Industrial Marketing Management, 44, 22-31

Eisenhardt, K. M., & Graebner, M. E. (2007). Theory building from cases: Opportunities and challenges. Academy of management journal, 50(1), 25-32.

Gawer, A., & Phillips, N. (2013). Institutional work as logics shift: The case of Intel’s transformation to platform leader. Organization studies, 34(8), 1035-1071.

Haghi, E., Raahemifar, K., & Fowler, M. (2018). Investigating the effect of renewable energy incentives and hydrogen storage on advantages of stakeholders in a microgrid. Energy Policy, 113, 206-222.

Hannah, D. P., & Eisenhardt, K. M. (2018). How firms navigate cooperation and competition in nascent ecosystems. Strategic Management Journal, 39(12), 3163-3192.

Iansiti, M., & Levien, R. (2004). The keystone advantage: what the new dynamics of business ecosystems mean for strategy, innovation, and sustainability. Harvard Business Press.

Iansiti, Marco, and Roy Levien. The keystone advantage: what the new dynamics of business ecosystems mean for strategy, innovation, and sustainability. Harvard Business Press, 2004.

Kjellberg, H., Azimont, F., & Reid, E. (2015). Market innovation processes: Balancing stability and change. Industrial Marketing Management, 44, 4-12.

Mason, K., Friesl, M., & Ford, C. J. (2017). Managing to make markets: Marketization and the conceptualization work of strategic nets in the life science sector. Industrial Marketing Management, 67, 52-69.

McDowall, W., & Eames, M. (2006). Forecasts, scenarios, visions, backcasts and roadmaps to the hydrogen economy: A review of the hydrogen futures literature. Energy Policy, 34(11), 1236-1250.

Onyas, W. I., & Ryan, A. (2015). Agencing markets: Actualizing ongoing market innovation. Industrial Marketing Management, 44, 13-21.

Sovacool, B. K., & Brossmann, B. (2010). Symbolic convergence and the hydrogen economy. Energy Policy, 38(4), 1999-2012.

Van Ruijven, B., Urban, F., Benders, R. M., Moll, H. C., Van Der Sluijs, J. P., De Vries, B., & Van Vuuren, D. P. (2008). Modeling energy and development: an evaluation of models and concepts. World Development, 36(12), 2801-2821.



 
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