Imperial College London

ProfessorMaurizioZollo

Business School

Professor of Strategy and Sustainability
 
 
 
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Contact

 

+44 (0)20 7594 2163m.zollo Website CV

 
 
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Location

 

276Business School BuildingSouth Kensington Campus

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Summary

 

Publications

Publication Type
Year
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53 results found

Zollo M, Minoja M, Casanova L, Hockerts K, Neergaard P, Schneider S, Tencati Aet al., 2009, Towards an internal change management perspective of CSR: Evidence from project RESPONSE on the sources of cognitive alignment between managers and their stakeholders, and their implications for social performance, Corporate Governance: The international journal of business in society, Vol: 9, Pages: 355-372, ISSN: 1472-0701

Purpose – This paper aims to juxtapose two separate perspectives on corporate social responsibility (CSR) in terms of their ability to explain the cognitive alignment between managers and stakeholders on what constitutes the social responsibility of the focal firm, and to explain social performance. Design/methodology/approach – The authors take two perspectives: that of stakeholder engagement, which has historically characterized the debate on CSR; and that of internal change processes required to integrate CSR in a firm's operations. The authors analyze data from 427 interviews, of which 209 were with managers and 219 with stakeholders of 19 multinational firms in eight sectors, to assess the extent of cognitive alignment between managers and stakeholders on the conceptualization of CSR for the relevant firm, to determine which of the two theoretical perspectives is connected with the degree of cognitive alignment, and to determine which of the two is connected with the perception of corporate social performance (CSP). Findings – The data examined show no evidence that the degree of sophistication in stakeholder engagement practices is connected with either the magnitude of cognitive gaps, or the level of CSP; whereas the degree of integration in internal operations is connected with both narrower cognitive gaps and higher CSP. Originality/value – This paper tackles for the first time the problem of measuring and explaining the gaps between managers and stakeholders about their cognitive representations of CSR. The key result of the analysis is that the standard conceptualization of CSR as a stakeholder engagement process does not suffice neither to explain the variation across firms in their managers' cognitive alignment with stakeholders, nor to explain inter-firm variation in social performance. The strongest explanation for both alignment and performance comes from the extent to which the firm has actually invested in internal change pr

Journal article

Gambardella A, Zollo M, 2009, Editors' Introduction, EUROPEAN MANAGEMENT REVIEW, Vol: 6, Pages: 77-80, ISSN: 1740-4754

Journal article

Gambardella A, Zollo M, 2009, Introduction, EUROPEAN MANAGEMENT REVIEW, Vol: 6, Pages: 1-4, ISSN: 1740-4754

Journal article

Zollo M, Meier D, 2008, What Is M&A Performance?, ACADEMY OF MANAGEMENT PERSPECTIVES, Vol: 22, Pages: 55-77, ISSN: 1558-9080

Journal article

Peteraf M, Pitelis CN, Zollo M, 2008, On 'The Metamorphosis of (the theory of) the firm': An introduction, ORGANIZATION STUDIES, Vol: 29, Pages: 1109-1115, ISSN: 0170-8406

Journal article

Lioukas CS, Zollo M, Reuer JJ, 2007, The impact of information technology capabilities on alliance scope and performance

Drawing on contractual and competence perspectives, this paper investigates the impact of firms' the information technology (IT) capabilities on the geographic scope and performance of strategic alliance. Results show that IT capabilities may either expand or shrink alliance scope, depending on the characteristics of the alliance task. Specifically, such capabilities expand alliance scope for ambiguous tasks and shrink alliance scope for highly analyzable tasks. We also find that IT capabilities generally enhance alliance performance, yet the performance impact of IT capabilities also depends upon alliance scope and task analyzability. We discuss the implications of these findings for the boundaries between the contractual and competence perspectives and suggest that task analyzability plays an important role in determining these boundaries for inter-organizational relationships.

Conference paper

Ringov D, Zollo M, 2007, Corporate responsibility from a socio-institutional perspective: The impact of national culture on corporate social performance, Corporate Governance, Vol: 7, Pages: 476-485, ISSN: 1472-0701

Purpose - This paper sets out to investigate the effect of differences in national cultures on the social and environmental performance of companies around the world. Design/methodology/approach - Theoretical propositions on how the various dimensions of national culture influence corporate social responsibility are developed and empirically tested. Findings - The authors propose that companies based in countries characterized by higher levels of power distance, individualism, masculinity, and uncertainty avoidance exhibit lower levels of social and environmental performance. Empirical tests of these propositions are performed via pooled ordinary least squares regression models using a novel proprietary dataset on 463 firms from 23 North American, European and Asian countries. Power distance and masculinity are found to have a significant negative effect on corporate social and environmental performance, whereas cultural differences with respect to individualism and uncertainty avoidance have no significant effect. Originality/value - The potential contribution of this work lies in offering empirical evidence to test the widely held assumption that corporations' socially responsible behavior is influenced by the cultural context in their home country. The adoption and the external appreciation of this kind of behavior does appear to be contingent on specific dimensions of national culture, but not on others. Thus, positive social change through voluntary corporate action may be optimized via initiatives that build on specific cultural values in the relevant country. © Emerald Group Publishing Limited.

Journal article

Gottschalg O, Zollo M, 2007, Interest alignment and competitive advantage, ACADEMY OF MANAGEMENT REVIEW, Vol: 32, Pages: 418-437, ISSN: 0363-7425

Journal article

Lioukas CS, Zollo M, Reuer JJ, 2007, The impact of information technology capabilities on alliance scope and performance

Drawing on contractual and competence perspectives, this paper investigates the impact of firms' the information technology (IT) capabilities on the geographic scope and performance of strategic alliance. Results show that IT capabilities may either expand or shrink alliance scope, depending on the characteristics of the alliance task. Specifically, such capabilities expand alliance scope for ambiguous tasks and shrink alliance scope for highly analyzable tasks. We also find that IT capabilities generally enhance alliance performance, yet the performance impact of IT capabilities also depends upon alliance scope and task analyzability. We discuss the implications of these findings for the boundaries between the contractual and competence perspectives and suggest that task analyzability plays an important role in determining these boundaries for inter-organizational relationships.

Conference paper

Fubini DG, Price C, Zollo M, 2006, The elusive art of postmerger leadership, McKinsey Quarterly, Pages: 29-37, ISSN: 0047-5394

Journal article

Puranam P, Singh H, Zollo M, 2006, Organizing for innovation: Managing the coordination-autonomy dilemma in technology acquisitions, ACADEMY OF MANAGEMENT JOURNAL, Vol: 49, Pages: 263-280, ISSN: 0001-4273

Journal article

Corrado R, Zollo M, 2006, Small worlds evolving: governance reforms, privatizations, and ownership networks in Italy, INDUSTRIAL AND CORPORATE CHANGE, Vol: 15, Pages: 319-352, ISSN: 0960-6491

Journal article

Kale P, Zollo M, 2006, Understanding partnering processes and outcomes: The contribution of evolutionary theory, Handbook of Strategic Alliances, Pages: 81-100, ISBN: 9780761988632

Book chapter

Reuer JJ, Zollo M, 2005, Termination outcomes of research alliances, RESEARCH POLICY, Vol: 34, Pages: 101-115, ISSN: 0048-7333

Journal article

Zollo M, Singh H, 2004, Deliberate learning in corporate acquisitions: Post-acquisition strategies and integration capability in US bank mergers, STRATEGIC MANAGEMENT JOURNAL, Vol: 25, Pages: 1233-1256, ISSN: 0143-2095

Journal article

Singh H, Zollo M, 2004, Globalization through acquisitions and alliances: An evolutionary perspective, The INSEAD-Wharton Alliance on Globalizing: Strategies for Building Successful Global Businesses, Pages: 129-158, ISBN: 9780521835718

© The INSEAD-Wharton Alliance 2004 and Cambridge University Press, 2009. Although acquisitions and alliances are used increasingly to drive the growth in multinational activities, the success rates of both acquisitions and alliances continue to be considered low, both at home and abroad. How do companies make the choice between acquisitions and alliances as a mode of entry? How do they then approach the post-entry managerial challenges? And, most important, how do companies effectively learn to tackle these problems in a systematic way? The authors examine a variety of factors that might influence the entry choice, including feasibility, flexibility, information asymmetry, digestibility, time horizon, focus on core vs. periphery, and post-agreement hazards. They also explore distinctive post-entry competencies that affect the success of both alliances and acquisitions: an integration capability for the former dimension and relational capability for the latter. The authors stress the strategic value of deliberate investments in assessing and improving one's own capability levels in the management of these entry tools. For example, spending time on understanding one's own organization's less tangible qualities, such as its cognitive and cultural traits, needs to become part of the standard due diligence process. To achieve positive outcomes, the authors say, managers should invest in knowledge management mechanisms that can first identify, and then articulate and codify the processes idiosyncratic to their firms that produce positive results. These processes, along with skilled managers, constitute the competencies needed to achieve success more consistently in these external modes of globalization.

Book chapter

Puranam P, Singh H, Zollo M, 2003, A bird in the hand or two in the bush? Integration trade-offs in technology-grafting acquisitions, European Management Journal, Vol: 21, Pages: 179-184, ISSN: 0263-2373

Technology-grafting acquisitions are the acquisitions of technology-based entrepreneurial firms by established firms. They are often motivated by the need to bring products speedily to market, as well as develop future product pipelines. We argue that these are conflicting objectives; a trade-off between short and long-term performance arises because acquisition integration has opposite effects on the strength of the organizational linkages between target and acquirer, and on the continued innovative capacity of the target firm. © 2003 Elsevier Science Ltd. All rights reserved.

Journal article

Zollo M, 2003, M&As and corporate growth: Introduction, European Management Journal, Vol: 21, Pages: 176-178, ISSN: 0263-2373

Journal article

Zollo M, Reuer JJ, Singh H, 2002, Interorganizational routines and performance in strategic alliances, ORGANIZATION SCIENCE, Vol: 13, Pages: 701-713, ISSN: 1047-7039

Journal article

Zollo M, Winter SG, 2002, Deliberate learning and the evolution of dynamic capabilities, ORGANIZATION SCIENCE, Vol: 13, Pages: 339-351, ISSN: 1047-7039

Journal article

Reuer JJ, Zollo M, Singh H, 2002, Absolute and relative resources as determinants of international acquisitions, Strategic Management Journal, Vol: 23, Pages: 119-134, ISSN: 0143-2095

Although it is established that firms sometimes expand abroad to augment their capabilities, previous studies have generally focused on technological determinants of foreign expansion. We analyze capability-seeking aspects of foreign direct investment by examining the relationship between upstream (technological) and downstream (marketing) capabilities and the choice between acquisition and greenfield modes of international entry. In analyzing 2175 entries by British, German, and Japanese investors into the United States, we find that for downstream capabilities, which tend not to be geographically fungible, the absolute level of capabilities in the entered industry explains the mode choice. However, for upstream capabilities, which tend to be geographically fungible, the acquisition motive stems from a relative capability differential between host and home country firms. These results have implications for the concept of fungibility in the resource-based view of the firm as well as for the literature on sourcing of resident assets by foreign firms, which has thus far ignored issues of entry mode and downstream assets. Copyright © 2002 John Wiley & Sons, Ltd.

Journal article

Reuer JJ, Zollo M, Singh H, 2002, Post-formation dynamics in strategic alliances, Strategic Management Journal, Vol: 23, Pages: 135-151, ISSN: 0143-2095

This paper investigates the occurrence and determinants of post-formation governance changes in strategic alliances, including alterations in alliances' contracts, boards or oversight committees, and monitoring mechanisms. We examine alliances in the biotechnology industry and find that firms' unique alliance experience trajectories affect the likelihood of such ex post adjustments in these partnerships. Transactional features such as the alliance's scope, its division of labor, and the relevance of the collaboration to the parent firm also bear upon alliances' dynamics. We discuss the implications of these findings and how they complement prior research focusing on alliance design or termination at opposite ends of the alliance life cycle. Copyright © 2002 John Wiley & Sons, Ltd.

Journal article

Reuer J, Zollo M, 2000, Managing governance adaptations in strategic alliances, European Management Journal, Vol: 18, Pages: 164-172, ISSN: 0263-2373

One important question confronting firms engaged in a strategic alliance is how to adapt the relationship over time. This article identifies specific governance changes firms make in strategic alliances. Using illustrative data on strategic alliances in the biotechnology industry, the authors consider the frequency of governance adaptations and explore some of the factors affecting parent firms' interventions in their collaborative agreements. The data patterns demonstrate the relevance of parent firms' prior experiences with alliances as well as specific features of the alliance in influencing the likelihood and type of adjustments undertaken by parent firms. While alliance adaptation has previously been a black box in the alliance area, the article begins to specify some of the dimensions of alliance adaptation and their drivers.

Journal article

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