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An econometric analysis of trends in research joint venture activity

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  • Albert N. Link

    (Department of Economics, University of North Carolina at Greensboro, Greensboro, NC 27412, USA)

  • David Paton

    (Nottingham University Business School, Nottingham NG8 1BB, UK)

  • Donald S. Siegel

    (Department of Economics, Rensselaer Polytechnic Institute, 3502 Russell Sage Laboratory, Troy, NY 12180-3590, USA)

Abstract

Edith Penrose noted that firms may need to rely on research joint ventures (RJVs) to acquire access to resources that can help them achieve and sustain a competitive advantage. We estimate an econometric model of the propensity of firms to disclose their intention to engage in RJVs, in order to explain the recent precipitous decline in RJVs filed with the US Department of Justice. We find that RJV activity is inversely related to the competitive position of US firms in global high-technology industries and that the establishment of the US Commerce Department's Advanced Technology Program (ATP) induced a structural change in the propensity of firms to engage in RJVs. Thus, two factors may explain the recent downturn in RJVs: a substantial improvement in US global performance in high-technology markets and a sharp decline in ATP funding. Copyright © 2005 John Wiley & Sons, Ltd.

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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal Managerial and Decision Economics.

Volume (Year): 26 (2005)
Issue (Month): 2 ()
Pages: 149-158

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Handle: RePEc:wly:mgtdec:v:26:y:2005:i:2:p:149-158

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Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/7976

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Cited by:
  1. Bojanowski, Michał & Corten, Rense & Westborck, Bastian, 2009. "The structure and dynamics of the global network of inter-firm R&D partnerships 1989-2002," MPRA Paper 15741, University Library of Munich, Germany.
  2. Love, James H. & Roper, Stephen & Du, Jun, 2009. "Innovation, ownership and profitability," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 27(3), pages 424-434, May.
  3. Duso, Tomaso & Pennings, Enrico & Seldeslachts, Jo, 2010. "Learning dynamics in research alliances: A panel data analysis," Research Policy, Elsevier, Elsevier, vol. 39(6), pages 776-789, July.
  4. Love, James H. & Roper, Stephen & Bryson, John R., 2011. "Openness, knowledge, innovation and growth in UK business services," Research Policy, Elsevier, Elsevier, vol. 40(10), pages 1438-1452.
  5. Thomas Bolli & Martin Woerter, 2011. "Competition and R&D Cooperation with Universities and Competitors," KOF Working papers, KOF Swiss Economic Institute, ETH Zurich 11-275, KOF Swiss Economic Institute, ETH Zurich.
  6. Barrett, Alan & Kearney, Ide & O'Brien, Martin, 2008. "Quarterly Economic Commentary, Summer 2008," Forecasting Report, Economic and Social Research Institute (ESRI), Economic and Social Research Institute (ESRI), number QEC20082, March.
  7. Pop Silaghi, Monica Ioana & Alexa, Diana & Jude, Cristina & Litan, Cristian, 2014. "Do business and public sector research and development expenditures contribute to economic growth in Central and Eastern European Countries? A dynamic panel estimation," Economic Modelling, Elsevier, Elsevier, vol. 36(C), pages 108-119.
  8. Stephen Roper & Spyros Arvanitis, 2009. "From Knowledge to Added Value: A Comparative, Panel-data Analysis of the Innovation Value Chain in Irish and Swiss Manufacturing Firms," KOF Working papers, KOF Swiss Economic Institute, ETH Zurich 09-244, KOF Swiss Economic Institute, ETH Zurich.
  9. Hewitt-Dundas, Nola & Roper, Stephen, 2008. "Ireland's Innovation Performance: 1991 to 2005," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), Economic and Social Research Institute (ESRI), vol. 2008(2-Summer), pages pages 46-68.
  10. Boris Bravo & Horacio Cocchi & Daniel Solís, 2006. "Output Diversification Among Small-Scale Hillside Farmers In El Salvador," OVE Working Papers, Inter-American Development Bank, Office of Evaluation and Oversight (OVE) 1706, Inter-American Development Bank, Office of Evaluation and Oversight (OVE).
  11. Nikoskelainen, Erkki & Wright, Mike, 2007. "The impact of corporate governance mechanisms on value increase in leveraged buyouts," Journal of Corporate Finance, Elsevier, Elsevier, vol. 13(4), pages 511-537, September.

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