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Exploration, exploitation, and firm age in alliance portfolios

Author

Listed:
  • Manuel Guisado-González

    (University of Extremadura)

  • Jennifer González-Blanco

    (University of Vigo)

  • José Luis Coca-Pérez

    (University of Extremadura)

Abstract

We analyzed the relationship between exploration-oriented and exploration-oriented alliances. Through the complementarity approach, three possible relationships were analyzed: complementarity, substitutability, and no relationship. We use Technological Innovation Panel data for Spanish manufacturing firms for 2005–2013. The econometric technique that we used to estimate the coefficients was population-averaged OLS. Our findings suggest that alliance portfolios formed by exploration-oriented and exploration-oriented alliances achieve worse innovation performance than specialized exploration or exploitation portfolios. In addition, we found that a single class of alliance has different impacts on innovation performance depending on whether it is implemented by a young company or a mature company.

Suggested Citation

  • Manuel Guisado-González & Jennifer González-Blanco & José Luis Coca-Pérez, 2019. "Exploration, exploitation, and firm age in alliance portfolios," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 9(4), pages 387-406, December.
    • Handle: RePEc:spr:eurasi:v:9:y:2019:i:4:d:10.1007_s40821-019-00131-y
    DOI: 10.1007/s40821-019-00131-y
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    More about this item

    Keywords

    Exploration; Exploitation; Firm age; Alliances; Complementarity approach;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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