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Too Much of a Good Thing: The Role of Alliance Portfolio Diversity for Innovation Output in the Biotechnology Industry

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  • Wilfried Zidorn
  • Marcus Wagner

Abstract

The purpose of this paper is to show the impact of heterogeneous partners in a biotechnology firm’s alliance portfolio on innovation output. Previous literature has stressed that investments into the heterogeneity of partners in an alliance portfolio is more important than just engaging in multiple collaborative agreements. The analysis of a unique panel dataset of 20 biotechnology firms and their 8502 alliances suggests that engaging in many alliances in general has a positive influence on a firms innovation output. Furthermore, maintaining diverse alliance portfolios has an inverted U-shaped influence on a firm’s innovation output, as managerial costs and complexity levels become too high.

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Bibliographic Info

Paper provided by DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies in its series DRUID Working Papers with number 12-10.

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Date of creation: 2012
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Handle: RePEc:aal:abbswp:12-10

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Web page: http://www.druid.dk/

Related research

Keywords: Alliances; alliance portfolio; biotechnology; innovation;

This paper has been announced in the following NEP Reports:

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  8. Nola Hewitt-Dundas, 2006. "Resource and Capability Constraints to Innovation in Small and Large Plants," Small Business Economics, Springer, vol. 26(3), pages 257-277, 04.
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  11. Duysters, Geert & Vanhaverbeke, Wim & Beerkens, Bonnie & Gilsing, Victor, 2007. "Exploration and Exploitation in Technology-based Alliance Networks," MERIT Working Papers 020, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  12. Balakrishnan, Srinivasan & Koza, Mitchell P., 1993. "Information asymmetry, adverse selection and joint-ventures : Theory and evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 20(1), pages 99-117, January.
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  15. repec:fth:harver:1473 is not listed on IDEAS
  16. Deeds, David L. & Hill, Charles W. L., 1996. "Strategic alliances and the rate of new product development: An empirical study of entrepreneurial biotechnology firms," Journal of Business Venturing, Elsevier, vol. 11(1), pages 41-55, January.
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