Most of the theory of the firm examines whether a transaction should take place within the
firm or the market, but hybrid arrangements are increasingly common, particularly in …

We use a simple model of collaborative innovation to structure an empirical analysis of
minority equity links in biotechnology alliances between clients and R&D firms. In the model …

The author examines the sources of bargaining power in the form of complementary
resource possession. He postulates that relative value of the resources held by the firms …

Increases in alliance activity between research‐intensive firms and incumbents is puzzling
because it is challenging to contract upon highly uncertain R&D activities. Our paper …

It has been argued that behavioral incentives for research and development are more
efficiently governed within the administrative hierarchies of firms rather than the contractual …

The object of any capital budgeting decision is to maximize the value of the firm through the
identification of strategic investment projects that create shareholder wealth. Setting aside …

This study seeks to advance and test the knowledge-based theory of the firm as it applies to
explaining the governance structure of R&D alliances. Unlike transaction-cost economics …

Strategic alliances are commonplace in the high-technology sector. Biotechnology is a
context in which this organizational arrangement has been particularly significant hundreds …

Strategic alliances are commonplace in the biotechnology sector. We posit that the stock of
prior alliances between participants in the biotech industry produces a network---a …

In many industries, interfirm arrangements play an important role in the development,
commercialization, and diffusion of technical know-how. These arrangements can involve …