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The Dynamics of Research Joint Ventures: A Panel Data Analysis

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Author Info
Tomaso Duso (Humboldt University and Wissenschaftszentrum Berlin (WZB) Reichpietschufer 50, 10785 Berlin, Germany E-Mail : duso@wzb.eu Tel: +49 30 2549 1403)
Enrico Pennings (Dept. of Applied Economics, Erasmus University Rotterdam, P.O. Box 1738, 3000 DR Rotterdam, The Netherlands E-mail: pennings@few.eur.nl Tel: +31 10 40 82166)
Jo Seldeslachts (Wissenschaftszentrum Berlin (WZB) Reichpietschufer 50, 10785 Berlin, Germany E-Mail: seldeslachts@wzb.eu Tel: +49 30 2549 1404)

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Abstract

The aim of this paper is to test the determinants of Research Joint Ventures’ (RJVs) group dynamics. We look at entry, exit and turbulence in RJVs that have been set up under the US National Cooperative Research Act, which allows for certain antitrust exemptions in order to stimulate firms to cooperate in R&D. Accounting for unobserved project characteristics and controlling for inter-RJV interactions and industry effects, the Tobit panel regressions show the importance of group and time features for an RJV’s evolution. We further identify an average RJV’s long-term equilibrium size and assess its determining factors. Ours is a first attempt to produce robust stylized facts about cooperational short- and long-term dynamics, an important but neglected dimension in research cooperations.

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Publisher Info
Paper provided by SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich in its series Discussion Papers with number 221.

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Date of creation: Nov 2007
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Handle: RePEc:trf:wpaper:221

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Keywords: research joint ventures; dynamics; panel data;

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Find related papers by JEL classification:
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data
L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
O32 - Economic Development, Technological Change, and Growth - - Technological Change - - - Management of Technological Innovation and R&D

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  1. Socio-Economics of Innovation
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Poyago-Theotoky, Joanna, 1995. "Equilibrium and Optimal Size of a Research Joint Venture in an Oligopoly with Spillovers," Journal of Industrial Economics, Blackwell Publishing, vol. 43(2), pages 209-26, June. [Downloadable!] (restricted)
  2. Patrick Greenlee, 2005. "Endogenous Formation Of Competitive Research Sharing Joint Ventures," Journal of Industrial Economics, Blackwell Publishing, vol. 53(3), pages 355-391, 09. [Downloadable!] (restricted)
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  4. Nakamura, Masao & Shaver, J. Myles & Yeung, Bernard, 1996. "An empirical investigation of joint venture dynamics: Evidence from U.S.-Japan joint ventures," International Journal of Industrial Organization, Elsevier, vol. 14(4), pages 521-541, June. [Downloadable!] (restricted)
  5. Grossman, Gene M & Shapiro, Carl, 1986. "Research Joint Ventures: An Antitrust Analysis," Journal of Law, Economics and Organization, Oxford University Press, vol. 2(2), pages 315-37, Fall.
  6. Kamien, Morton I & Muller, Eitan & Zang, Israel, 1992. "Research Joint Ventures and R&D Cartels," American Economic Review, American Economic Association, vol. 82(5), pages 1293-306, December. [Downloadable!] (restricted)
  7. Malerba, Franco, 2007. "Innovation and the dynamics and evolution of industries: Progress and challenges," International Journal of Industrial Organization, Elsevier, vol. 25(4), pages 675-699, August. [Downloadable!] (restricted)
  8. Roberto Hern·n & Pedro L. MarÌn & Georges Siotis, 2003. "An empirical evaluation of the determinants of Research Joint Venture Formation," Journal of Industrial Economics, Blackwell Publishing, vol. 51(1), pages 75-89, 03. [Downloadable!] (restricted)
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  9. Yannis Caloghirou & Stavros Ioannides & Nicholas S. Vonortas, 2003. "Research Joint Ventures," Journal of Economic Surveys, Blackwell Publishing, vol. 17(4), pages 541-570, 09. [Downloadable!] (restricted)
  10. Ordover, Janusz A & Baumol, William J, 1988. "Antitrust Policy and High-Technology Industries," Oxford Review of Economic Policy, Oxford University Press, vol. 4(4), pages 13-34, Winter.
    Other versions:
  11. Hagedoorn, John & Link, Albert N. & Vonortas, Nicholas S., 2000. "Research partnerships1," Research Policy, Elsevier, vol. 29(4-5), pages 567-586, April. [Downloadable!] (restricted)
  12. Patrick Greenlee & Bruno Cassiman, 1999. "Product market objectives and the formation of research joint ventures," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 20(3), pages 115-130.
  13. Vonortas, Nicholas S., 1997. "Research joint ventures in the US," Research Policy, Elsevier, vol. 26(4-5), pages 577-595, December. [Downloadable!] (restricted)
  14. Ivaldi, Marc & Jullien, Bruno & Rey, Patrick & Seabright, Paul & Tirole, Jean, 2003. "The Economics of Tacit Collusion," IDEI Working Papers 186, Institut d'Économie Industrielle (IDEI), Toulouse. [Downloadable!]
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  16. Roy Chowdhury, Indrani & Roy Chowdhury, Prabal, 2001. "A theory of joint venture life-cycles," International Journal of Industrial Organization, Elsevier, vol. 19(3-4), pages 319-343, March. [Downloadable!] (restricted)
  17. Lars-Hendrik Röller & Ralph Siebert & Mihkel M. Tombak, 2007. "Why Firms Form (or do not Form) RJVS," Economic Journal, Royal Economic Society, vol. 117(522), pages 1122-1144, 07. [Downloadable!] (restricted)
  18. Bureth, Antoine & Wolff, Sandrine & Zanfei, Antonello, 1997. "The two faces of learning by cooperating: The evolution and stability of inter-firm agreements in the European electronics industry," Journal of Economic Behavior & Organization, Elsevier, vol. 32(4), pages 519-537, April. [Downloadable!] (restricted)
  19. Mody, Ashoka, 1993. "Learning through alliances," Journal of Economic Behavior & Organization, Elsevier, vol. 20(2), pages 151-170, February. [Downloadable!] (restricted)
  20. Bengt Holmstrom, 1982. "Moral Hazard in Teams," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 324-340, Autumn. [Downloadable!] (restricted)
  21. Francis Bloch, 1995. "Endogenous Structures of Association in Oligopolies," RAND Journal of Economics, The RAND Corporation, vol. 26(3), pages 537-556, Autumn. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Tomaso Duso, & Enrico Pennings & Jo Seldeslachts, 2008. "On The Stability of Research Joint Ventures: Implications for Collusion," CIG Working Papers SP II 2008-15, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG). [Downloadable!]
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