We examine the impact of firms' open and distributed innovation (ODI) business models on their market value. Using a legitimacy lens, we argue that engaging in ODI business models implies non-conformance to existing socio-cognitive categories, thereby making it difficult for investors to...

How does the social capital of venture capitalists (VCs) affect the funding of start-ups? By building on the rich social capital literature, we hypothesize a positive effect of VCs’ social capital, derived from past syndication, on the amount of money that start-ups receive. Specifically, we...

Open innovation is often facilitated by strong intellectual property rights (IPRs), but it may also function, and even be boosted, when firms deliberately waive some of their IPRs. Extant literature has pointed out the potential benefits of such behavior, but falls short of explaining what...

We extend theory on private–collective innovation by studying the role of exclusion rights for technology in the competition between private–collective and other innovators. We argue that private–collective innovators both pledge their own and invest in orphan exclusion rights for...