PurposeThe purpose of this study is to conceptualize the business model from a value network perspective and to investigate how top managers' individual characteristics contribute to business model innovation.Design/methodology/approachOn the basis of upper echelons theory and contingency theory, this study empirically examines the micro‐macro link between top managers' human and social capital and firm business model innovation.FindingsUsing survey data collected from 146 Chinese firms, the findings indicate that both top managers' managerial and entrepreneurial skills and managerial ties significantly lead to business model innovation. Furthermore, the interaction between entrepreneurial skills and managerial ties enhances, yet the interaction between managerial skills and managerial ties inhibits business model innovation.Originality/valueBy proposing a value network‐based definition for the business model, this study provides additional insights into the current debate on the definition and architecture of business model. Further, the current study contributes to an emerging body of business model research by demonstrating, for the first time, that a manager's individual characteristics can both directly and interactively drive business model innovation in the context of emerging economies.

The Paternò–Büchi (PB) reaction is a photochemical reaction involving [2 + 2] cycloaddition between electronically excited carbonyl and carbon–carbon double bond (CC). It has been established as a lipid derivatization strategy, leading to confident assignment of CC locations in lipids when coupled with tandem mass spectrometry (MS/MS). Although acetone and several aryl-containing ketones or aldehydes have been explored as PB reagents, the chemical properties critical to achieving efficient conversion and minimum side reactions remain unclear. Herein, we investigated a set of acetophenone (AP) derivatives, aiming to provide insights into the development of new PB reagents with enhanced performance for lipid analysis. For AP derivatives, we found that electron-withdrawing groups (e.g., −F and −CF3) on the benzene ring improved the overall conversion, while a bulky group at the ortho-position decreased the conversion. Norrish Type I cleavage was largely diminished; however, the Norrish Type II side reaction was more competitive, producing products isomeric to the PB reaction products. Among all AP derivatives tested, 2′,4′,6′-trifluoroacetophenone (triFAP) showed the best performance. It offered a relatively high PB yield (20–30%) for different types of CC, high sensitivity (sub-nM) for CC identification, and accurate isomer quantitation. Due to the significantly reduced chemical interferences in shotgun analysis, triFAP provided better performance than that from acetone PB-MS/MS. An offline triFAP PB reaction was implemented in a liquid chromatography analysis workflow, which enabled the large-scale identification of phospholipids including CC location isomers from a complex lipid extract.

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