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Valuing Strategic Alliances in the Pharmaceutical/Biotechnology Industry


  • McCulloch, Kathryn
  • Jackson, Randy
  • Ng, Desmond W.


In an era of rapid and changing technological advances, a firm's survival and growth depends on its' ability to introduce products to the market. Since a firm's growth and survival depends on its' ability to develop products and services over time (Penrose, 1959), the question posed by this study is what determines a firm's ability to introduce products to market? In this study, a firm's ability to introduce product to markets are influenced by its' "absorptive capacity" to identify and internalize the resource benefits of its' alliance partners. Such an integrated view is absent in firm level and strategic alliance studies of product development. A conceptual model of firm product introductions is developed and empirically tested. Results generally support the hypotheses of this study.

Suggested Citation

  • McCulloch, Kathryn & Jackson, Randy & Ng, Desmond W., 2005. "Valuing Strategic Alliances in the Pharmaceutical/Biotechnology Industry," 2005 Annual meeting, July 24-27, Providence, RI 19537, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea05:19537

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    References listed on IDEAS

    1. Werther, William Jr. & Kerr, Jeffrey L., 1995. "The shifting sands of competitive advantage," Business Horizons, Elsevier, vol. 38(3), pages 11-17.
    2. 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.
    3. Johannes M. Pennings & Farid Harianto, 1992. "Technological Networking and Innovation Implementation," Organization Science, INFORMS, vol. 3(3), pages 356-382, August.
    4. Rothaermel, Frank T., 2001. "Complementary assets, strategic alliances, and the incumbent's advantage: an empirical study of industry and firm effects in the biopharmaceutical industry," Research Policy, Elsevier, vol. 30(8), pages 1235-1251, October.
    5. Julia Porter Liebeskind & Amalya Lumerman Oliver & Lynne G. Zucker & Marilynn B. Brewer, 1995. "Social Networks, Learning, and Flexibility: Sourcing Scientific Knowledge in New Biotechnology Firms," NBER Working Papers 5320, National Bureau of Economic Research, Inc.
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