This article aims to explain the role of regional innovation policies in regional industrial transformation (RIT) from a coevolutionary perspective. The empirical basis is the case study of Małopolska, a Polish region undergoing an industrial transformation in parallel with the launch and development of its innovation policies after the EU accession in 2004. To accomplish its purpose, our research extends the common coevolutionary theoretical framework with interaction mechanisms (IMs), that is, the outcome-oriented processes underlying policy-industry mutual influences, and thus explaining their coevolution. IMs allow us to better understand the reciprocal roles of policy and industry, and the major paths in industrial development and policy approach. The role of innovation policy in the Małopolska RIT can be described as predominantly accommodating and complementing industrial change with some level of proactive promotion of new industrial opportunities. Moreover, we observe reciprocal relationships with regional industry, rather than the unidirectional influence of this policy. This dynamic interaction enabled the evolution of policy to balance the exploitative and explorative approaches to industrial development.

Purpose: The aim of this paper is to develop a theoretical framework of the transformation of the bank's scope driven by fintechs.Design/methodology/approach: The conceptual foundations for a comprehensive transformation of the bank governance through financial technologies (fintechs) are underexplored. In order to develop such foundations, the authors adopt transaction cost economics (TCE), the concepts of external enablers and a modular organizational design, as well as a systematic literature review.Findings: The results point to three scenarios of the banks' scope, depending on the adopted technological mechanisms and related effects that change the characteristics of organizational activities, justifying new bank boundaries. The most advanced application of fintechs results in a modularized network scenario leading to the emergence of financial ecosystems.Research limitations/implications: The proposed micro-perspective of decisional rules in an individual organization is unique in the current literature that predominantly focuses on the banking sector at large. The identified scenarios are valuable for solid theoretical and empirical grounding and can be further exploited in decision simulations and empirical studies.Practical implications: The proposed theoretical framework points to the rationales and consequences of adopted technologies for the boundaries of a bank organization.Originality/value: This paper provides three contributions to the literature on technology-driven transformations of organizations with a focus on banks. First, the authors elaborate a theoretical framework for establishing the bank's boundaries in response to the expansion of financial technologies. Second, the authors add to the knowledge accumulation in the area of organizational transformations based on the ICT adoption, in particular, to the literature on the modular organizational design. Third, the authors contribute to the decision-maker practice by proposing the alternative options of banks' scope transformed through fintechs.

Purpose: The purpose of this paper is to discuss the process of entrepreneurial growth from the perspective of the resource-based view (RBV) of the firm and transaction cost theory (TCT) and to formulate propositions regarding the entrepreneurs’ decisional rules and structural elements in this process.Design/methodology/approach: The argumentation draws upon three fields of academic research, namely, entrepreneurship studies on firm growth as well as strategic management and organization science studies on company scope and size (boundary). A systematic review of the literature was performed that combines the RBV and TCT to explain a firm’s boundary.Findings: Three levels of entrepreneurial decisional rules in the process of growth were identified. The first level includes main decisional criteria. The second level approaches the structural elements of growth process, namely, its motives, rationale, mechanism and modes. The third level assumes evolutionary approach to decision making, namely, feedback relationships among transaction costs, governance and capabilities to create value from growth.Originality/value: The paper broadens the early stream of research in the process of entrepreneurial growth. It contributes to explaining the way growth is realized, instead of identifying its predictors, which has dominated in to-date studies. The entrepreneurs’ decisional rules and choices in the process of expansion were suggested. Moreover, the integrated RBV-TCT approach was proposed as a theoretical background for studying this phenomenon.

Journal of Entrepreneurship, Management and Innovation