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The Dynamics of Research Joint Ventures: A Panel Data Analysis

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  • Tomaso Duso
  • Enrico Pennings
  • Jo Seldeslachts

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. ZUSAMMENFASSUNG - Die Dynamik in Forschungskooperationen: Eine Paneldatenanalyse. Das Ziel dieser Arbeit ist die Analyse der entscheidenden Einflussfaktoren auf die Gruppendynamik in Forschungsgemeinschaften. Wir betrachten Einstieg, Ausstieg und Bewegungen innerhalb von Forschungsgemeinschaften, die unter dem US National Cooperative Research Act gegründet wurden. Der Cooperative Research Act befreit die teilnehmenden Unternehmen von kartell- und monopolrechtlichen Beschränkungen um Anreize für Kooperationen im Bereich Forschung und Entwicklung zu schaffen. Unter Berücksichtigung von unbeobachtbaren Projektcharakteristika und Überwachung von industriespezifischen Effekten und Wechselwirkungen zwischen den Forschungsgemeinschaften zeigt die Tobit-Regression die Wirkung von Gruppen- und Periodenmerkmalen auf die Entwicklung einer Forschungskooperation. Weiterhin wird die durchschnittliche langfristige Größe einer Forschungsgemeinschaft im Gleichgewicht beschrieben und ihre Bestimmungsfaktoren werden untersucht. Der Aufsatz stellt einen ersten Versuch dar, robuste stilisierte Fakten zu kurz- und langfristigen Triebkräften von Kooperationen zu extrahieren um einen Beitrag zu einem zu Unrecht vernachlässigten Teilbereich der Forschung zu leisten.

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Bibliographic Info

Paper provided by Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG) in its series CIG Working Papers with number SP II 2007-12.

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Length: 43 pages
Date of creation: Jan 2008
Date of revision:
Handle: RePEc:wzb:wzebiv:spii2007-12

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Keywords: Research Joint Ventures; Dynamics; Panel Data;

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References

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  7. 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.
  8. 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.
  9. 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.
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  14. Mody, Ashoka, 1993. "Learning through alliances," Journal of Economic Behavior & Organization, Elsevier, vol. 20(2), pages 151-170, February.
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  16. Poyago-Theotoky, Joanna, 1995. "Equilibrium and Optimal Size of a Research Joint Venture in an Oligopoly with Spillovers," Journal of Industrial Economics, Wiley Blackwell, vol. 43(2), pages 209-26, June.
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  20. 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.
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Cited by:
  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).
  2. Marco Marinucci, 2012. "A primer on R&D cooperation among firms," Questioni di Economia e Finanza (Occasional Papers) 130, Bank of Italy, Economic Research and International Relations Area.

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  1. Socio-Economics of Innovation

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