Forsaking innovation: addressing failure and innovation behaviour variety

Marzocchi, Chiara; Ramlogan, Ronnie

doi:10.1080/09537325.2019.1628937

Cited by 15 publications

(7 citation statements)

References 55 publications

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“…On the other hand, research on previous experiences from failure warns that the variable only impacts innovation in situations where the same strategies are followed. Failure can reinforce or reverse an approach to deal with a specific situation, but this new course of action alone is not enough to guarantee the achievement of greater innovative capability if different strategies are followed (Marzocchi & Ramlogan, 2019).…”

Section: Discussionmentioning

confidence: 99%

Forms of capital, innovation capability and innovation in nascent ventures

Pagotto

Borges

Almeida

et al. 2022

IBJESB

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Objective: Investigate the impact of human, social, and financial capital on the variation of innovation capability of nascent ventures over time. Methodology/design: Quantitative research, developed using a longitudinal secondary database (Panel Study of Entrepreneurship Dynamics 2 -PSED 2). Multiple linear regression technique was used to test the research hypothesis. Main results: Among all types of capital analyzed in the study, level of education, personal finances, and physical social capital were determinant of the nascent ventures' capability of developing innovation over time. Innovation capability influenced the creation of innovation, as well. Theoretical/methodological contributions: Considering the longitudinal design, the research presents which types of capital are relevant along time for nascent ventures to develop innovation capabilities. Relevance/originality: From the methodological perspective, the research has a longitudinal design, as suggested by entrepreneurship and innovation capability scholars since both phenomena are process oriented. It also differentiates innovation and innovation capability, which are two constructs used interchangeably by research, although being different. Social/management contributions: The results contribute to qualify which resources of a company in its initial phase have greater potential for generating long-term innovation.

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Section: Discussionmentioning

confidence: 99%

Forms of capital, innovation capability and innovation in nascent ventures

Pagotto

Borges

Almeida

et al. 2022

IBJESB

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show abstract

“…People respond to different degrees of failure quite differently. Catastrophic failures more readily capture people’s attention and have devastating effects on individuals [ 34 , 35 ]. A very large loss produces strong negative emotions, and it is difficult for people to react positively; they engage in more volatile actions [ 8 , 20 ].…”

Section: Theory and Hypothesesmentioning

confidence: 99%

“…In addition, according to self-determination theory, an individual’s level of effort is fundamentally based on the individual’s intrinsic motivation [ 39 ], but a complete failure experience may decrease this kind of motivation [ 31 , 35 ]. Complete failure is so noticeable that individuals tend to identify this kind of failure as a threat rather than an opportunity [ 13 ].…”

Section: Theory and Hypothesesmentioning

confidence: 99%

“…It is not as threatening as complete failure [ 8 ]. Some researchers argue that incomplete failure has important learning effects [ 35 ]; because this kind of experience is “smart” [ 8 , 33 ], it provides better learning opportunities [ 17 ]. Since incomplete failure does not produce significant loss, some scholars argue that people may regard incomplete failure as success [ 42 , 43 ].…”

Section: Theory and Hypothesesmentioning

confidence: 99%

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Examining failure learning in online lending: Complete failure vs. incomplete failure

Cui

Zhang

2021

PLoS ONE

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We examine the learning effects of borrowers’ failures in online lending. Based on funding ratios of borrowers’ loan listings in online lending, we first explore the role of failure degree in borrowers’ future funding performance. Further, we disaggregate borrowers’ funding failure into complete failure and incomplete failure, and compare theirs learning effects. Using a large sample of 610,000 online loan applications over six years from a Chinese leading online lending platform Renrendai, we use funding ratio to quantifiably measure each loan listing’s failure degree and conduct a series of tests. The results show that: (1) Borrowers’ failure degree of prior loan applications is negatively associated with one’s subsequent funding performance. (2) Borrowers’ complete failure cannot promote learning, while incomplete failure is good for future performance. (3) Both incomplete failure and complete failure interacted to influence the value of each type of experience and generate improved learning. Our results are robust across a variety of settings. The study sheds light for deeply understanding of failure learning phenomenon, and can also provide important implications for online lending managers to support successful financial transactions.

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“…Although the importance of learning from failure has been established in a number of empirical studies (e.g., D'Este et al, 2016; Marzocchi & Ramlogan, 2019; Zhong et al, 2022), the boundary conditions for such learning remain far less understood. These boundary conditions are critical to understanding LFIF because of the double‐edge sword of innovative failures (Shepherd, 2009).…”

Section: Introductionmentioning

confidence: 99%

Real options or fallen angels: Examining the complexities of learning from terminated projects

Hess

2022

Creat Innov Manage

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Do organizations learn from innovative failures? Extant research has been mixed. We posit that these disparate findings likely reflect an underlying (and under-researched) spectrum of failure severity, which is comprised not only by the magnitude of the failure in question but by the frequency with which it occurs. Using fine-grained, project-level data, consisting of 33,905 projects in 2496 pharmaceutical firms, we decompose 1251 terminated projects into two types based on their phase of development: early-and late-stage terminations. We use hazard rate modelling and an analysis of abnormal equity returns to assess the likelihood of future failure and the market's reaction to the project termination. Specifically, we are interested in understanding the role that magnitude and frequency of project terminations play in the likelihood and magnitude of future project terminations.

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Forsaking innovation: addressing failure and innovation behaviour variety

Cited by 15 publications

References 55 publications

Forms of capital, innovation capability and innovation in nascent ventures

Forms of capital, innovation capability and innovation in nascent ventures

Examining failure learning in online lending: Complete failure vs. incomplete failure

Real options or fallen angels: Examining the complexities of learning from terminated projects

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