Ulrich Hege, awarded the Prix SYNTEC for Management Research

30 April 2014

The SYNTEC prize for Management Research recognizes research publications on business management. This year it has been awarded to Ulrich Hege, finance professor at HEC Paris, for his research and his article “Entrepreneurial Spawning and Firm characteristics” published in “Management Science” in December 2013.

Ulrich Hege, awarded the Prix SYNTEC for Management Research  - HEC Paris 2014

Each time an innovation is born in a company a question is asked: does it need to be exploited internally or is it preferable to leave it to its creator to develop it within its own structure? According to Ulrich Hege, it all depends on the parent company’s capacity to be productive.

The study, led by Michel A. Habib, Ulrich Hege and Pierre Mella-Barral, allows for the understanding of the dynamism of innovative businesses and the evolution of their perimeters. The decision to keep or let go of innovations depends on the size, age and profitability of the business, its appeal, and above all, its ability to adapt to the deployment of the innovation, according to these researchers. The study offers managers a space for reflection on the practicality of developing an innovation internally or making money out of it by letting its creators go, or even externalizing the research via the acquisition of start-ups or innovative spin-outs.

Read Ulrich Hege’s article “When should you spawn an innovation?” on Knowledge@HEC .

Doctor of Economics from Princeton, Ulrich Hege is professor of finance and associate dean of the Ph.D. program at HEC Paris. His research focuses on corporate finance, especially issues related to capital risk/capital investment, acquisitions and divestitures, joint ventures, domestic financial markets, corporate governance, and the choice between bank debt and publicly traded debt. Ulrich Hege is part of the European Corporate Governance Institute and Europlace Institute of Finance.

The Academic Prize for Research in Management, created by Syntec Conseil en Management , is now in its sixth year.

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