1. Strategy/OT research © Mike W. Peng 1 Challenges in Strategy and Organization Theory Research Mike W. Peng Provost’s Distinguished Professor of Global Strategy University of Texas at Dallas Editor-in-Chief, Asia Pacific Journal of Managementwww.utdallas.edu/~mikepeng

2. Strategy/OT research © Mike W. Peng 2 Macro organizational research Strategy and OT: Boundaries are blurred The big question: What determines the success and failure of firms around the world? (Peng, 2004, JIBS) My experience and advice: Be programmatic in your research –Of course, you will learn from and collaborate with your advisor as a PhD student –But you don’t want to do your advisor’s research

3. Strategy/OT research © Mike W. Peng 3 Guidelines on topic selection (R. Tung, 2005, Asia Pacific Journal of Management) What are the significant and important trends that have broad implications for theory and practice in the future? Is the topic sustainable over an extended period of time and not just a fad? Will the topic be broad enough to generate interest among a sufficiently large group of researchers? How much research attention has the topic received so far? What is my competitive advantage in this area? Am I truly passionate and excited about the topic?

4. Strategy/OT research © Mike W. Peng 4 A paper’s success is substantially determined at the outset (S. Rynes, 2006, IACMR talk)

5. Strategy/OT research © Mike W. Peng 5 Research Formulation Minimum standards: –“That’s interesting!” –4 - 6 smart people test Maximum goals: –“I’ll never think about the issue the same way again!” –Publication becomes a ritual citation (e.g., Barney, Child, Jensen, Hofstede, Porter, Williamson... cite Peng & Heath 96 for China/emerging econ research and Lyles & Salk 96 for IJV learning)

6. Strategy/OT research © Mike W. Peng 6 A programmatic research strategy Emerging markets strategiesExport strategies (dissertation) Conceptual:Peng & Heath (1996 AMR)Peng & Ilinitch (1998 JIBS) Peng (2003 AMR) Peng, Lee, & Wang (2005 AMR)Trabold (2002 JIBS) – A test of Meyer & Peng (2005 JIBS) Peng & Ilinitch Lee, Peng, & Barney (2007 AMR) Peng, Wang, & Jiang (2008 JIBS) Qualitative:Peng (1997 OS)Peng, Hill, & Wang (2000 JMS) Quantitative:Luo & Peng (1999 JIBS)Peng & York (2001 JIBS) Peng & Luo (2000 AMJ) Tan & Peng (2003 SMJ) Peng, Zhou, & York (2006 JWB) Peng (2004 SMJ) -- A replication of Trabold Tong, Reuer, & Peng (2007 AMJ) Peng, Zhang, & Li (2007 MOR) Research book:Peng (2000 Sage)Peng (1998 Quorum) Practitioner:Peng (1997 CBR; 2001 AME; 2006 HBR) Special issue:Wright, Filatotchev, Hoskisson,[Source] M. W. Peng, 2005, & Peng (2005 JMS)From China strategy to global Textbook: 2006: Global Strategy strategy, Asia Pacific Journal of Management, 22(2): 123-141

7. Strategy/OT research © Mike W. Peng 7 Strategies in emerging economies 20-15 Figure 20.6 Organiza- tional slack (Tan & Peng 2003 SMJ) Organiza- tional slack (Tan & Peng 2003 SMJ) Firm growth & social networks (Peng & Luo 2000 AMJ) Firm growth & social networks (Peng & Luo 2000 AMJ) Organiza- tional learning (Luo & Peng 1999 JIBS) Organiza- tional learning (Luo & Peng 1999 JIBS) Strategic groups (Peng, Tan, & Tong 2004 JMS) Strategic groups (Peng, Tan, & Tong 2004 JMS) THEORY PAPERS: The growth of the firm (Peng & Heath 1996 AMR) Institutional transitions and strategic choices (Peng 2003 AMR) An institution-based view of IB strategy (Peng et al. 2008 JIBS) THEORY PAPERS: The growth of the firm (Peng & Heath 1996 AMR) Institutional transitions and strategic choices (Peng 2003 AMR) An institution-based view of IB strategy (Peng et al. 2008 JIBS) Corporate governance (Peng 2004 SMJ) Corporate governance (Peng 2004 SMJ)

8. Strategy/OT research © Mike W. Peng 8 Geographic & substantive diversification 20-15 Figure 20.6 Keiretsu networks Japan (Peng et al. 2001 JIM) Keiretsu networks Japan (Peng et al. 2001 JIM) Interlocks Hong Kong (Au et al. 2000 APJM) Interlocks Hong Kong (Au et al. 2000 APJM) Interna- tionalization Thailand (Peng et al. 2001 APJM) Interna- tionalization Thailand (Peng et al. 2001 APJM) Chaebol diversification South Korea (Lee et al. 2008 JWB) Chaebol diversification South Korea (Lee et al. 2008 JWB) THEORY PAPERS: Strategy research in emerging economies (Wright et al. 2005 JMS) The scope of the firm over time (Peng, Lee, & Wang 2005 AMR) Research in Central and Eastern Europe (Meyer & Peng 2005 JIBS) Bankruptcy laws and entrepreneurship (Lee, Peng, & Barney 2007 AMR) THEORY PAPERS: Strategy research in emerging economies (Wright et al. 2005 JMS) The scope of the firm over time (Peng, Lee, & Wang 2005 AMR) Research in Central and Eastern Europe (Meyer & Peng 2005 JIBS) Bankruptcy laws and entrepreneurship (Lee, Peng, & Barney 2007 AMR) Corporate governance Russia (Peng et al. 2003 JWB) Corporate governance Russia (Peng et al. 2003 JWB)

9. Strategy/OT research © Mike W. Peng 9 FROM CHINA STRATEGY TO GLOBAL STRATEGY M. W. Peng (2005) Asia Pacific Journal of Management (vol. 22: 123-141)

10. Strategy/OT research © Mike W. Peng 10 Frontiers of strategy/OT research The relationship over time and around the world –Stay away from simple linear relationship –Strategic choices during institutional transitions Example of a recent stream –What determines the scope of the firm over time? (Peng, Lee, & Wang, 2005 AMR) –What determines the scope of the firm over time and around the world? An Asia Pacific perspective (Peng & Delios, 2006 APJM) –From diversification premium to diversification discount during institutional transitions (Lee, Peng, & Lee, 2008 JWB)

11. Strategy/OT research © Mike W. Peng 11 China/Asia researchers need more self-confidence Self-confidence: Meyer (2006 APJM) Debate in APJM (2007/4, 25 th anniversary) –Au, Yang & Terjesen, Puffer & McCarthy –Ramaswamy –Meyer (rejoinder, 2007) Manifestations –Topic selection –Measurements –“A journal” designation

12. Strategy/OT research © Mike W. Peng 12 Data issues Qualitative: Peng (1997 OS) Quantitative/survey: Luo & Peng (1999 JIBS); Peng & Luo (2000 AMJ); Peng, Buck, & Filatotchev (2003 JWB); Peng, Tan, & Tong (2004 JMS) Quantitative/archival: Peng (2004 SMJ assigned); Peng, Zhang, & Li (2007 MOR); Tong, Reuer, & Peng (2007 AMJ) Combining survey and archival sources: Tan & Peng (2003 SMJ assigned) No data are perfect, all can be challenged by reviewers—you need to defend your data

13. Strategy/OT research © Mike W. Peng 13 Publishing research is difficult for almost everyone…. (S. Rynes, 2006, IACMR talk)

14. Strategy/OT research © Mike W. Peng 14 Mike’s 1-slide checklist Shorten your title (it’s not an abstract!) –Do you really need your subtitle? Finish the Introduction section in 2 pages Make sure to raise questions (using ?) in Intro Start your Methods no later than p 15 NO new ideas and cites in Findings (just your findings) Make sure you use the word CONTRIBUTIONS Have a 1-para Conclusion (Don’t end with Limitations) The shorter your paper, the better!

15. Strategy/OT research © Mike W. Peng 15 Research implementation A well-crafted article –Tells a good story: Beginning, middle, and end –Draws the reader into the plot –Shows a picture (worth 1,000 words?) Standard format, although boring, simplifies our task (and life!) –Qualitative studies may appear to be relatively easier to conduct, but are a lot harder to write

16. Strategy/OT research © Mike W. Peng 16 The beginning (I) Shorten your title: Easy to remember (and cite!) –Peng and Heath (1996 AMR): The growth of the firm in planned economies in transitions: Organizations, institutions, and strategic choices (15 words) –Peng (2003 AMR): Institutional transitions and strategic choices (5 words) Raise questions, preferably in the 1 st sentence –Peng (2003 AMR): How do organizations make strategic choices during the time of fundamental and comprehensive institutional transitions? –Peng (2004 SMJ): Do outside directors on corporate boards make a difference in firm performance? Raise a question in the title –Peng, Lee, & Wang (2005 AMR): What determines the scope of the firm over time? A focus on institutional relatedness

17. Strategy/OT research © Mike W. Peng 17 The beginning (II) Set forth the plot line –“This paper is about …” –“This topic is important because …” Draw the reader to think your way –“According to institutional theory …” Finish the Introduction section in 2 pages –Reviewers are impatient: “Please be explicit!” –Don’t waste precious space on “Section 2 is about >>>, section 3 is about >>>”—nobody reads that –Use the last paragraph in your Intro to say: “This article departs from (or contributes to) the literature in three ways. One >>> two >>> three >>>”

18. Strategy/OT research © Mike W. Peng 18 The middle (I) Literature review –Short, focused -- no need to cite 1,000 articles –Your focus: Puzzles? Contradictions? Gaps? Methodology –Bear in mind of replication needs by others –Full disclosure of imperfect approach is better than no disclosure –Place the most technical (boring) stuff to the appendix

19. Strategy/OT research © Mike W. Peng 19 The middle (II) Results –Only talk about results –No new cites or ideas please –Be explicit: Were hypotheses supported or not? –Interpret; don’t just repeat the tables “Shown in Table 1, X is significant.” “Shown in Table 1, X is significant, thus supporting our H1.” –Good idea to have a summary table for results

20. Strategy/OT research © Mike W. Peng 20 The end Discussion –State your contributions explicitly “Three contributions emerge. First … Second … Third …” –Don’t say “weaknesses;” say “limitations and future research directions” Conclusion –So what? How does the world look different now? –No more than one paragraph: Tie everything together “Learning does lead to higher performance—albeit not necessarily in a linear fashion” (Luo & Peng 99 JIBS)

21. Strategy/OT research © Mike W. Peng 21 The reviewer’s perspective (I) I have served on the editorial boards of AMJ, AMR, JIBS, and SMJ, and guest edited a JMS Special Issue Editor-in-Chief of Asia Pacific Journal of Management Is the story interesting? –Avoid “dead end” topics Is the theory sound? –Topic- or data-driven versus theory-driven research –Building on previous theory? –Overlooking major aspects of previous work (such as my work)? –Citing authors (such as the reviewer!) correctly?

22. Strategy/OT research © Mike W. Peng 22 The reviewer’s perspective (II) Is the method reasonable? –Does it match your research objectives? –Does operationalization reasonably reflect the conceptual essence of your constructs? –Are you trying to hide something? Is the writing good? –Logical flow of macro-structure –Consistent words throughout the paper (e.g., don’t mix up “org. culture” and “climate”)

23. Strategy/OT research © Mike W. Peng 23 The author’s tactics Anticipate the reviewers’ concerns Anticipate who your reviewers might be –Very hard; can never be proven –Your references provide a clue (for editors) Meet journal styles (asset-specificity investment) Tight editing (Have you tried research notes?) Avoid amateur styles: Be professional and cool –“Our results are incredible (shocking)...” Offer to review for the journal

24. Strategy/OT research © Mike W. Peng 24 Surviving the review process Thick skin is required: Everybody gets rejections –@ 90% rejection rates, my 40+ articles would have been submitted 400 times (baptism by fire?) –I’m now 3 times better than average, which means my submissions are still being killed 70% of the times! Realize reviewers and editors are rational –At least in most cases: Everybody can have a bad day –Our intellectual market for ideas is not perfect, but is rational, reasonable, and the best in the world –Case study of Tong, Reuer, & Peng @ AMJ (2007)

25. Strategy/OT research © Mike W. Peng 25 Dealing with reviewers Thoroughly address every point raised –Including disagreements, don’t hide them! What reviewers hate: –#1: Done! #2: Done! #3: Yes – they won’t remember What reviewers appreciate: Point-by-point [Review #1] >>>> (completely retype or cut and paste) [Our response #1] >>> [Review #2] >>> [Our response #2] >>>

26. Strategy/OT research © Mike W. Peng 26 What I have found (I)... The university is a subsidized writers’ club … Or multiple, never-ending Olympic games. Have to care about major games Leverage your core competencies Ours is a socially constructed, virtual community around the world So what? Send your work to relevant people ASAP –My global network is a source of my energy, replenishment, and inspiration (and citations!)

27. Strategy/OT research © Mike W. Peng 27 What I have found (II)... Writing is just like cooking! We are all cooks. We cannot cook up data, but we can cook up presentable dishes in paper format Be creative: Don’t be a slave to a certain style of cooking Avoid too many or too few ingredients (theories) Certain foods are no longer fresh or appealing if they are not cooked right away When is the best time to write? – Right (write) now! The art of theoretical stir fry For more, see H. Becker, Writing for Social Scientists //ChallengeSMOT0706//6/17/2007//

28. Strategy/OT research © Mike W. Peng 28 Useful references The Elements of Style, Fourth Edition. Strunk, White, and Angell, 2000. Longman The Craft of Research. Booth, Colomb, and Williams, 1995. University of Chicago Press, Chicago Bird by Bird: Some Instructions on Writing and Life. Anne Lamott, 1995. First Anchor Books Writing for Social Scientists: How to Start and Finish Your Thesis, Book, or Article. Howard S. Becker, 1986. University Of Chicago Press. The Chicago Manual of Style. By University of Chicago Press Staff, 2003. Publishing in the Organizational Sciences. Cummings and Frost, 1995. Sage Publications.

29. Strategy/OT research © Mike W. Peng 29 No need to go over what the top journals are Do think of MANAGEMENT & ORGANIZATION REVIEW and ASIA PACIFIC JOURNAL OF MANAGEMENT Official Journal of the Asia Academy of Management