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《The Journal of High Technology Management Research》2001,12(2):227-237
This article empirically examines the market reaction to the announcement of an information technology research and development (ITR&D) strategic alliance. Strategic alliances are typically hypothesized to add value to the partnering firms since they provide similar benefits as a merger or acquisition with increased flexibility. However, unlike the extensive research into the market response to mergers and acquisitions, scant empirical evidence exists on the valuation impact of strategic alliances and the evidence that does exist is mixed. This study extends prior research by focusing solely on ITR&D alliances and by controlling for a previously documented size effect. We find a significant positive abnormal return surrounding the announcement of information technology alliances. Further analysis reveals that this result is not related to the relative size of the partner. This last result is in contrast to prior research that argues that strategic alliances result in an asymmetric gain benefiting the smaller partner more than the larger partner in the alliance. 相似文献
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Marcus Wagner 《Research Policy》2011,40(9):1217-1225
Innovation in high technology industries poses considerable challenges, frequently forcing firms to consider using acquisitions as a means of sourcing technology. This paper investigates such behaviour in a major high technology sector, namely the semiconductor industry. The paper focuses on differential effects of technology-related versus nontechnological acquisitions on exploratory and exploitative research and innovation. Most importantly, it confirms the important role of technology-related acquisitions for exploratory innovation. 相似文献
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技术获取作为众多企业选择建立战略联盟的重要原因,促进了企业创新绩效的提升。然而,技术获取的联盟动机对企业创新产出的影响却是一个极为复杂的作用过程。本文以已有研究为基础,引入专利策略构建"技术获取-专利策略选择-创新绩效"的分析框架,考察技术获取的联盟动机如何借助专利策略选择作用于企业创新绩效。选取信息技术产业的联盟企业作为样本,通过实证研究发现:技术获取动机会引致企业专利策略组合的运用,实现了技术获取向创新绩效的转化;技术获取引致的企业创新绩效因联盟意图及策略组合而存在差异,以市场进入为目标的情形下,企业创新效率和专利产出趋于增加;以市场拓展为诉求的联盟企业市值得到强化。 相似文献
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研究了联盟依赖和联盟冲突作为联盟稳定性的两个维度分别对伙伴知识保护的影响,并在此基础上构建了联盟稳定性、伙伴知识保护、中心企业知识获取三者之间的关系模型,提出了相关假设。运用270家中国企业的调研数据对假设进行了验证,结果发现,联盟成员企业之间的依赖和冲突都会增强联盟伙伴对于知识的保护程度,而伙伴知识保护与中心企业知识获取之间呈U型关系。研究还发现,联盟依赖能够促进中心企业的知识获取,同时对伙伴知识保护与中心企业知识获取之间的关系有正向调节作用,而联盟冲突对知识获取有显著的阻碍作用。 相似文献
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联盟管理能力是动态能力的一种特殊形式,基于形成动态能力的不同组织惯例和常规,企业联盟管理能力在理论上包括组织间协调、联盟组合协调、组织间学习、组织感知和联盟组织变革五个要素。通过对珠三角313家创新型企业的调查研究,采用高阶因子分析检验了这一结构的合理性,同时基于结构方程模型方法探讨了联盟管理能力在联盟发展、联盟经验和联盟组织结构对联盟价值创造产生影响时的中介作用。实证分析结果显示联盟管理能力对于联盟价值创造具有正向的影响,联盟管理能力在联盟发展对联盟价值创造的影响中具有部分的中介效应,在联盟经验和联盟组织结构对于联盟价值创造的影响中具有完全的中介效应。 相似文献
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Strategic alliances are important channels for interfirm learning, especially for small firms that are resource constrained. Of the several alliance attributes, technological distance between partners (measured as the distance between partners’ innovative outcomes) is shown to have a significant influence on the learning benefits from strategic alliances. Drawing upon the theory of recombination, our study argues that the influence of technological distance on learning is best understood by not only measuring the distance between innovative outcomes, but by also taking into consideration the knowledge elements underlying the innovative outcomes. We develop a concept of knowledge base homogeneity that captures the extent to which the innovative outcomes of partnering firms draw upon similar sets of knowledge elements. Using patent and alliance data from 201 small biotechnology firms during the period 1996–2010, we confirm that the technological distance has an inverted u-shaped relationship on interfirm learning. We further demonstrate that this u-shaped relationship is moderated by the knowledge base homogeneity between partners, such that benefits of technological distance are enhanced and the costs of technological distance are mitigated when the knowledge base homogeneity between alliance partners is high. The results have important implications for interfirm learning, especially in the context of small firms that are limited in their knowledge stocks. 相似文献
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利用1999至2013年拥有标准联盟参与经历的170家车辆生产企业的数据,研究标准联盟组合多样性对企业两类技术标准化能力(主导能力、跟随能力)的影响,及关系强度在上述影响中的调节作用。基于负二项随机效应回归模型的实证分析发现：标准联盟组合多样性与企业技术标准化主导能力呈正U型关系,与技术标准化跟随能力呈倒U型关系。在标准联盟组合资源向技术标准化能力转化的过程中,联盟关系强度发挥了显著调节作用：随着关系强度提升,联盟组合多样性与技术标准化主导能力的正U型关系曲线、与技术标准化跟随能力的倒U型关系曲线将变得更为陡峭。 相似文献
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尽管联盟伙伴选择在联盟管理中的重要作用得到了共识,但作为一种风险控制方式,在核心知识保护的作用方面却很少受到重视。本文研究了学习型资源和非学习型资源获取两种不同的联盟动机下,企业知识保护能力对联盟伙伴关系选择的影响,并提出了相关假设。研究结果表明:在学习型资源获取动机下,当企业知识保护能力较强时,会倾向于按"朋友熟人陌生人"的顺序选择联盟合作伙伴;当企业知识保护能力较弱时,会倾向于按"朋友陌生人熟人"的顺序选择联盟合作伙伴。在非学习型资源获取动机下,企业无论知识保护能力强弱,都倾向于按"朋友熟人陌生人"的顺序进行联盟合作伙伴的选择。 相似文献
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This paper investigates the causal effect of foreign acquisitions on the research and development (R&D) activities of domestic target firms over the period 1994–2004. Using accounting data on French innovative manufacturing firms, we implement appropriate difference-in-difference estimation techniques associated with a matching propensity score procedure. We find that the acquisitions of French firms by foreign companies boost R&D spending. There is a simultaneous rise in the external and in-house R&D expenditures of French acquired firms. R&D is more contracted out to local research providers, in particular to local public laboratories and universities. The increase in internal R&D spending benefits to development, but also basic and applied research. Finally, the growth of the R&D budget is not only financed by internal resources but also receives financing from external partners, especially parent companies. Thus, our results call into question the idea that foreign takeovers hamper the R&D development of target firms and are detrimental to the national innovation system of the host country. First, acquisitions appear to bring efficiency gains enough to counterbalance the various costs of integration and market power effects, pushing firms to invest more in R&D. Acquisitions do not seem to incite managers to take shorter term and more financial driven decisions at the expense of R&D. Second, when motivated by technology sourcing and overseas R&D development, acquisitions might be used to access the specific know-how of target firms and to tap into the knowledge of the national innovation system. Then, purchaser firms could be more likely to develop the innovative capability of target firms and to strengthen their linkages with local partners than to reduce them and relocate R&D abroad. 相似文献
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联盟组织间知识泄漏风险控制方案选择研究 总被引：1，自引：0，他引：1
联盟将具有不同知识技能的企业组合在一起,为企业创造了从结盟伙伴中学习的机会,但与此同时,结盟企业也面临着把自己的关键知识暴露给对方的危险。因此,企业如何防范联盟知识共享过程中的知识泄漏风险成为了一个值得关注的问题。对现有各种控制知识泄露风险的方法进行分析,在考虑风险控制成本和收益的前提下,建立博弈模型,分析选择各种知识泄漏风险控制方案的不同前提和条件,为企业有效控制联盟组织间知识泄漏风险提供了方法和理论依据。 相似文献
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知识联盟是企业获取外部知识尤其是隐形知识，提高自身竞争力的重要手段。针对知识联盟失败较多的现象，对影响知识联盟动态发展的联盟维持费用、知识资源特征、社会相客性等结构性因素作了分析。建立博弈模型，分两阶段研究了影响知识联盟形成和发展的结构性因素对企业行为决策的影响，并研究了这些因素之间的关系。 相似文献
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本文通过对106家中国上市企业在2009—2018年的面板数据进行多元回归分析,探讨了知识距离和企业知识基础的交互匹配对企业绿色创新的影响机制,以及网络密度在其中的调节作用。研究发现,拥有多样化知识基础的企业,嵌入到低知识距离联盟中更有利于企业绿色创新;而拥有专业化知识基础的企业,嵌入到高知识距离联盟中更有利于企业绿色创新。松散网络抑制了专业化知识基础和高知识距离的组合对企业绿色创新的正向效应,但改善了专业化知识基础和低知识距离的组合对企业绿色创新的影响,其调节效应在一段时间后可持续;紧密网络强化了专业化知识基础和高知识距离的组合对企业绿色创新的影响,以及多样化知识基础和低知识距离的组合对企业绿色创新的正向效应,其调节效应随着时间推移而减弱。本文有助于识别企业绿色创新的最优内外部知识配置和网络结构,为提升我国企业绿色创新效果提供理论参考。 相似文献
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In search of complementary assets: The determinants of alliance formation of high-tech start-ups 总被引：2，自引：0，他引：2
Why do new technology-based firms (NTBFs) cooperate? Starting from Teece's [Teece, D.J., 1986. Profiting from technological innovation: implications for integration, collaboration, licensing, and public policy. Research Policy 15, 285-305] conceptual framework and taking advantage of subsequent literature on alliance formation in the resource and competence-based tradition and in the social structure perspective, we derive an empirical model that aims at highlighting the inducements and obstacles that these firms face in alliance formation according to firm-specific characteristics and the nature of the alliance. In particular, a distinction is made between exploitative commercial alliances and explorative technological alliances. The econometric estimates, based on a large sample of Italian young high-tech firms that are observed from 1994 to 2003, provide strong evidence supporting two key intuitions of Teece's work. First, the “combination of specialized complementary assets” appears to be a key driver of the formation of exploitative commercial alliances by NTBFs. More specifically, patent holding affects positively the likelihood to establish commercial alliances, but this propensity is found to rapidly decrease with firm size, suggesting that as long as NTBFs become larger and possess specialized commercial assets their urge for commercial alliances diminishes. Second, following the parallelism set forth by Teece between search for alliance partners and access to external financing, the analysis indicates that potentially beneficial alliances may not take place because of the high transaction costs faced by smaller NTBFs. In this respect, our results clearly support the view that sponsor institutions as public research organizations, venture and corporate venture capitalists may sensibly reduce these costs and that their role crucially depends on both the identity of the sponsor and the type of alliance. 相似文献
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利用外部知识实现创新已经成为我国企业创新实践的常用策略。究竟内部R&D和外部知识搜寻之间存在怎样的关系,过多的外部知识搜寻是否会削弱企业内部R&D的战略性地位?本文基于209家中国创新型企业的问卷调查数据,对企业内部R&D活动和外部知识搜寻之间的关系进行了实证分析。研究结果表明外部知识搜寻对提升企业创新绩效有重要影响,但是不同类型的外部合作对象对创新绩效的重要性存在差异。研究发现,企业在创新实践中,内部R&D和纵向合作企业与横向合作企业知识搜寻之间存在互补协同的关系,但没有充分的证据表明内部R&D和大学/研究机构知识搜寻之间存在互补性。内部R&D和外部知识搜寻之间存在互补抑或替代的关系,主要受企业对外部知识吸收能力的影响。 相似文献
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战略联盟提供了一个在合作者的帮助下,通过将具有不同技能和知识基础的企业联合起来,提高其合作者和企业自身能力的独特机会．分析了影响联盟知识获取能力的不同条件,明确了有助于联盟成员学习的知识联系,讨论了为什么一些公司与其他公司相比在对联盟知识的提升和开发上更加有效,最后以UT斯达康与电信的战略联盟为例进行了案例分析． 相似文献
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An empirical investigation of knowledge management and innovative performance: The case of alliances 总被引：2，自引：0，他引：2
This paper examines firm-level performance implications of strategic alliances by employing knowledge management practices as intermediaries. Unlike previous research which focuses on partner firm factors, this study investigates how alliance characteristics (i.e., alliance scope and governance) affect interfirm knowledge sharing and creation, and how these two practices and their interaction in turn affect innovative performance. These questions are examined in a sample of 127 German partnering firms. Results show that joint ventures as opposed to contractual alliances are more effective and influential in facilitating knowledge sharing and creation. In contrast, the scope of alliance activities, while positively associated with knowledge sharing, has no direct relationship with knowledge creation. In addition to these results, the study also finds that knowledge sharing, knowledge creation and their interaction significantly contribute to partner firms’ innovative performance. 相似文献
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本文通过对重庆、深圳、西安等地建立了非对称竞争性战略联盟的近500名企业中高层管理人员的问卷调查,利用结构方程模型,从实证的角度,研究了非对称竞争性战略联盟中资源依赖性、关系风险和联盟绩效的相互影响。研究结果表明,非对称竞争性战略联盟中,资源的依赖性对联盟关系风险具有显著的正相关影响,关系风险对联盟绩效具有显著的负相关影响,而资源依赖性对联盟绩效只具有部分的负相关影响。表明在非对称型与对称型竞争性战略联盟中,资源依赖性、关系风险和联盟绩效三者之间的关系存在很大的差异,处于联盟中的企业应注意这种差别所带来的影响。 相似文献
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Timothy B. Folta Walter J. Ferrier 《The Journal of High Technology Management Research》2000,11(2):175-198
This study examines how national culture influences the likelihood and rate of buyouts among R&D equity alliances and joint ventures in the biotechnology industry. We hypothesize that the interaction of specific national culture attributes and cultural differences between alliance partners have an impact on: (1) the amount of endogenous uncertainty surrounding the potential integration of the target firm and (2) the marginal rate of learning in hierarchical versus collaborative governance. Applying a competing hazard model to a sample of 173 joint ventures and minority equity collaborations in the biotechnology industry, we found that investing firms from high power distance and high uncertainty avoidance countries are more likely to buy out their alliance partners. Furthermore, greater cultural distance between alliance partners increases the likelihood of partner buyout when investing firms are from high power distance countries. 相似文献