Graduate School of Business

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The Nazarbayev University Graduate School of Business aspires to become recognized as the leading school in Central Asia in the coming years. We intend to be known for the quality of our education, the impact of our research, our international orientation, and our meaningful engagement with the business community. Our school is structured to be an inspiring ecosystem in which ideas are exchanged and challenged by peers and faculty.

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Browsing Graduate School of Business by Author "Khanin, Dmitry"

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    CEOs’ appraisals of venture capitalists’ external and internal support: a transaction cost economics perspective
    (Venture Capital, 2016) Khanin, Dmitry; Turel, Ofir
    Previous research has established that, in addition to provision of financing, venture capitalists (VCs) may add value to new ventures via different types of management support. In this paper, we propose that transaction cost economics (TCE) may complement other theoretical frameworks (e.g., agency theory, the resource-based view, knowledge-based theory, and resource dependence perspective) in explaining CEOs’ polar and ambivalent appraisals of the benefits and costs of different types of VC support and the overall value of VC assistance. Following TCE, we approach VC-funded new ventures as hybrids of markets and hierarchies. Hence, we assume that VCs help their portfolio companies both to externalize, or learn to better operate under the market mode of governance, and internalize, or learn to better operate under the hierarchy mode of governance. We propose that VCs use external support to facilitate venture externalization and use internal support to facilitate venture internalization. Based on structural equation modeling (SEM) analysis of data from an online survey that generated 104 valid responses from CEOs of VC-funded new ventures, we establish that CEOs associate VCs’ external support positively with the perceived benefits of VC assistance and negatively with the perceived costs of VC assistance. In contrast, CEOs associate VCs’ internal support positively both with the perceived benefits and costs of VC assistance. We also demonstrate that CEOs’ assessments of the perceived benefits and costs of VC assistance are, respectively, associated positively and negatively with their appraisals of the overall value of VC assistance. Finally, we ascertain that CEO experience is related negatively to CEOs’ appraisals of the overall value of VC assistance. Implications of these findings for research and practice are discussed.
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    Helping Learners Recognize, Diagnose, and Unravel Incompetence Traps to Achieve Synergistic Exploration–Exploitation in Classroom
    (Journal of Management Education, 2015) Gnanlet, Adelina; Khanin, Dmitry
    Sensemaking theory suggests that sensemaking may collapse when perception fails to detect weak signals of changes in the environment, cognition fails to appropriately categorize the new data coming from perception, and action fails to test the applicability of new concepts and schemas. Mindfulness–mindlessness theory warns us that routine practices based on low levels of exploration and exploitation may hinder performance. Finally, the theory of learning failure distinguishes between the traps of failure or overexploration and the traps of success or overexploitation. Combining and advancing these insights, we offer a typology of incompetence traps: (a) underexploration–underexploitation or mindlessness, (b) overexploration–underexploitation, and (c) overexploitation–underexploration. We examine their manifestations in perception, cognition, and action. Based on our analysis of how incompetence traps may hamper learning in management education, we give examples of how instructors may help students achieve synergistic exploration– exploitation via informed vision (combining depth and multiple perspectives); perceptive thinking (combining theoretical, constraint-savvy knowledge and practical, context-savvy knowledge); and mindful action (developing and refining new and existing capabilities).