Equity links and information acquisition in biotechnology alliances

D. Filson, Rosa Morales

Resultado de la investigaciónrevisión exhaustiva

24 Citas (Scopus)

Resumen

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, an equity link is an investment in information acquisition: It improves the ability of the client to learn about the R&D firm's ability and the alliance project's quality. The model generates several testable hypotheses about how the R&D firm's project characteristics and previous alliances affect the use of equity links in new alliances. We test the hypotheses using a large data set of biotechnology alliances and find empirical support.

Idioma originalEnglish
Páginas (desde-hasta)1-28
Número de páginas28
PublicaciónJournal of Economic Behavior and Organization
Volumen59
N.º1
DOI
EstadoPublished - ene 2006

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics
  • Organizational Behavior and Human Resource Management

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