Innovation in Cultural Industries


Michael Jensen
Michael Jensen
  • Speaker
Stephen M. Ross School of Business, University of Michigan

Event Information

Type
Research Seminar
Programme
Business Processes
Date
Fri. 3 Feb. 2012
Contact
Time
10:00-11:00 hours
E-mail
Location
Mandeville Building T3-42
Number


Abstract

Due to bad weather conditions in Northern Italy the second speaker isn't able to attend the seminar.  
 
10:00-11:00 Michael Jensen, University of Michigan:  External Recognition as Contingent Market Signals: How to Overcome Liabilities of Foreignness in Film Exports?

Canceled 11:00-12:00

Simone Ferriani (University of Bologna): The Social Structure of Consecration in Cultural Fields
 
This seminar precedes the PhD defence of Dirk Deichmann, ‘Idea Management’ (Senate Hall, 13.30-15.00 h).
 

External Recognition as Contingent Market Signals: How to Overcome Liabilities of Foreignness in Film Exports?
Michael Jensen, University of Michigan.


This study examines the effectiveness of two market signals, commercial success and cultural consecration, in overcoming liabilities of foreignness of internationally traded cultural products. Extending prior research on market signals, we seek to understand not only when market signals are important, but also when different types of market signals are most important. We argue that commercial success with mass audiences is more important for exporting cultural products when countries are culturally similar, whereas cultural consecration from expert audiences is more important when countries are culturally dissimilar. When the country specificity of a cultural product is strong, however, cultural consecration is a more important signal in foreign markets, whereas domestic commercial success is less important. Our empirical setting is the European film industry where we track the import and export of films in Europe from 2000 to 2009. We find that domestic commercial success and cultural consecration in the forms of international film festival participation and domestic film award nominations increase the exportability of a film but also that their effectiveness as market signals differs depending on the cultural distance between countries and the country specificity of a film.

 

The Social Structure of Consecration in Cultural Fields
Simone Ferriani (University of Bologna) (with Gino Cattani , Stern School of Business, and Paul Allison, University of Pennsylvania)


Building on recent research emphasizing how legitimacy depends on consensus among audiences about candidates’ characteristics and activities, we examine the relationship between cultural producers’ (candidates) position in the social structure and the consecration of their creative work by relevant audiences. We argue that the outcome of this process of evaluation in any cultural field, whether in art or science, is a function of (1) candidates’ embeddedness within the field, and (2) the type of audience, i.e., peers vs. critics, evaluating candidates’ work. We situate the analysis in the context of the Hollywood motion picture industry. The theoretical implications of the results are discussed.

 
Michael Jensen
Michael Jensen is an associate professor of strategy at the Stephen M. Ross School of Business at the University of Michigan. His research focuses on the role of social structures in markets. Michael views markets as social structures that encompass social networks and market identities, both of which shape economic opportunities. Within this broad theoretical framework, he focuses mainly on social status, initially theorized as positions in social structure, but more recently also theorized as an important aspect of market identities. Current projects explore the importance of status and identity in the opera and movie industries. Michael received his MA in Philosophy and Business Economics from Aarhus University, Denmark, and his PhD in Management and Organizations from Kellogg School of Management, Northwestern University, USA.
 
Simone Ferriani
Simone Ferriani is an associate professor of management at the University of Bologna and Honorary Visiting Professor at Cass Business School, City University London. He published in Administrative Science Quarterly, Organization Science, Industrial and Corporate Change and Research Policy. Simone Ferriani received his PhD from the Management Department of the University of Bologna, with a concentration in interorganizational networks and small firms clusters. He has been a visiting scholar at the Wharton School, University of Pennsylvania and at the Stern School of Business, New York University. After obtaining the PhD he received a Marie Curie Fellowship from the EU to do research at Cass Business School, City University London and a Research Fellowship to work at the Centre for Technology Management of the University of Cambridge. He is also an AIM Fellow and a lifetime member of Clare-Hall College in Cambridge. He serves as the Director of the Green Energy MBA of Alma Graduate School, University of Bologna.  At the University of Bologna he teaches classes in "Entrepreneurship", "Business Planning and "Knowledge Management in the Arts". His research interests include entrepreneurship, creativity, and interorganizational networks.
 
Contact information:
Jan van den Ende

Email

Jan van den Ende
Professor of Management of Technology and Innovation
  • Coordinator