https://hdl.handle.net/10481/40928 2026-04-25T12:16:02Z https://hdl.handle.net/10481/112679 Achieving scalability in incumbent firms: Testing and extending the four-stage development model Bustinza Sánchez, Óscar Fernando; Vendrell-Herrero, Ferran; Vaillant, Yancy Scalability—a firm’s ability to develop the conditions for potential hypergrowth—has typically been studied in start-ups. This study shifts the focus to incumbent firms, examining whether established companies can develop and leverage scalability. We empirically test and extend a recently proposed four-stage model comprising value recognition, organisational adaptation, strategic renewal, and scalability. Using survey data from over 500 Spanish firms, we employ structural equation modelling and causal inference via Python’s DoWhy library. Whilst our findings largely align with the four-stage model, some nuances emerge. We find that strategic renewal partially mediates the relationship between organisational adaptation and scalability. We also find that firm size strengthens the mediating role of renewal, while lower technological intensity diminishes it, highlighting conditions under which scalability is more likely to emerge. These findings advance understanding of scalability in established firms and provide practical guidance for managers and policymakers seeking to foster hypergrowth. https://hdl.handle.net/10481/111102 The Battle for the Standard: Why Nvidia is Winning the AI Race Bustinza Sánchez, Óscar Fernando https://hdl.handle.net/10481/111068 The Interplay of Product Modularity, Service Types, and Servitization Depth on Firm Performance: A Moderated Mediation Model Jovanovic, Marin; Bustinza Sánchez, Óscar Fernando; Davies, Phil; Parry, Glenn The servitization literature has explored the role that product modularity plays in supporting service design and delivery. Importantly, product modularity has the potential to aid manufacturers in providing customized solutions on a larger scale, thereby strengthening firm performance. However, despite the prospective benefits of product modularity, manufacturers also need considerable servitization depth, which comprises service orientation, resources, and delivery systems, to provide services in a cost-effective manner. Taking this into account, the study both theoretically articulates and empirically tests relationships among product modularity, servitization depth, service types, and firm performance, employing a moderated mediation model. Using survey data collected from 204 manufacturers in the UK and German, the findings indicate that product modularity exerts a positive influence on firm performance, with servitization depth acting as a mediating factor. The mediation effect of servitization depth on the correlation between product modularity and firm performance was found to fluctuate based on the service types offered by the manufacturer. This study adds to the existing literature on servitization and the role of product modularity and servitization depth in achieving superior firm performance. https://hdl.handle.net/10481/104553 Blazing the trail: Describing and assessing a new policy instrument whereby indirect tax incentives fuel collaborative innovation Vendrell-Herrero, Ferran; Bustinza Sánchez, Óscar Fernando; Larreina, Mikel; Opazo-Basáez, Marco; Chesbrough, Henry Governments incentivize positive externalities from R&D activities via direct (i.e., capital grants) and indirect (i.e., tax incentives for proceeds from operations) subsidies. In this regard, direct subsidies are often presumed to be more explicitly geared toward encouraging collaborative innovation through the formation of consortia. However, the potential of indirect subsidies in this domain remains underexplored in extant studies. Moreover, these mechanisms rely on an unstated assumption: the entities receiving support are the best placed for its use. This article relaxes these assumptions by assessing a unique R&D tax break initiative, called the 64Bis, introduced by the provincial council of Biscay in the Basque Country, Spain. The 64Bis initiative enables an enterprise (Developer) to allocate the proceeds from this mechanism to an external organization (Financier). In exchange, the Financier sponsors the publicly backed R&D project. This article not only describes this policy instrument for the first time but also exploits the quasi-natural experiment conditions to examine between- and within-group heterogeneities. The between-group heterogeneities were analyzed using accounting data and one-to-one propensity score matching in order to construct a synthetic control group. Developers benefiting from this initiative between 2017 and 2021 were found to have acquired more knowledge than comparable enterprises during the same period. The within-group heterogeneities were examined using survey data and fuzzy-set Qualitative Comparative Analysis (fsQCA) to identify optimal configurational pathways that enhance knowledge acquisition via this policy instrument. Altogether, the findings suggest that implementing R&D tax incentives can encourage the formation of collaborative innovation systems, and have significant implications for both academic research and policy development. Oscar F. Bustinza also acknowledges financial support from the Grant C-SEJ-020-UGR23 funded by the Consejería de Universidad, Investigación e Innovación and by the ERDF Andalusia Program 2021–2027. https://hdl.handle.net/10481/104534 Scalability in incumbent firms: The case of Nvidia Vendrell-Herrero, Ferran; Vaillant, Yancy; Bustinza Sánchez, Óscar Fernando Scalability refers to the organizational capabilities required to facilitate a smoother and faster scaling process. Although it is usually associated with new ventures, this study explores how established firms can also create conditions conducive to scalability. We address this question by applying an inductive, narrative-based approach to a longitudinal, single-case study of Nvidia Corporation, a company founded in 1993 that since 2006 has undergone a profound transformation driven by the AI revolution. This case study draws on digital archives, including objective accounting information on Nvidia and its direct competitors, extensive company reports, pedagogical case studies, corporate biographies, and 464 min of recorded documentaries and interviews featuring the company's CEO. We use these sources to develop a multi-phase theoretical model outlining how established organizations can foster scalability. The model encompasses value recognition driven by systemic industry transitions, organizational adaptability, strategic renewal, and scalability, thus offering a structured framework for understanding how incumbent firms can cultivate the necessary conditions for successful scaling. Ferran Vendrell-Herrero acknowledges support by the project PID2022-136235NB-I00 funded by MICIU/AEI/10.13039/501100011033 and by ERDF/EU. Oscar F. Bustinza acknowledges support from the Ministry of Universities of Spain within the framework of the State Program to Develop, Attract and Retain Talent, State Mobility Subprogram, of the State Plan for Scientific, Technical and Innovation Research 2021–2023 (Reference: PRX22/00176).