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An econometric analysis of trends in research joint venture activity

  • 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)

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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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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