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Sell-off or shut-down? Alliance portfolio diversity and two types of high tech firms' exit

Author

Listed:
  • Olga Bruyaka

    (Virginia Tech - Virginia Tech [Blacksburg])

  • Rodolphe Durand

    (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

Abstract

Alliance portfolio diversity (APD) - defined as differences between firms' types of alliance partners (i.e. horizontal, upstream, and downstream) - is a strategic determinant of firm survival. This article analyzes APD in the context of high tech firms who rely on various partners to access complementary resources and secure their business survival, and argues that APD has different impacts on two main types of exit - sell-off and shut-down - which have been combined in previous research. Findings from a comprehensive study of French biotech firms from 1994 to 2002 show that the relationship between APD and shut-down is positive and linear whereas that between APD and sell-off is an inverted U-shaped. The article also finds evidence that the association between APD and firm exit mode is contingent on a firm's resources and capabilities. The implications for research and managerial practice are discussed.

Suggested Citation

  • Olga Bruyaka & Rodolphe Durand, 2012. "Sell-off or shut-down? Alliance portfolio diversity and two types of high tech firms' exit," Post-Print hal-00668609, HAL.
  • Handle: RePEc:hal:journl:hal-00668609
    DOI: 10.1177/1476127011432366
    Note: View the original document on HAL open archive server: https://hal-hec.archives-ouvertes.fr/hal-00668609
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    Cited by:

    1. repec:spr:manint:v:57:y:2017:i:6:d:10.1007_s11575-017-0326-y is not listed on IDEAS
    2. repec:wsi:ijimxx:v:21:y:2017:i:01:n:s1363919617500013 is not listed on IDEAS
    3. Mohr, Alex & Wang, Chengang & Goerzen, Anthony, 2016. "The impact of partner diversity within multiparty international joint ventures," International Business Review, Elsevier, vol. 25(4), pages 883-894.
    4. de Leeuw, Tim & Lokshin, Boris & Duysters, Geert, 2014. "Returns to alliance portfolio diversity: The relative effects of partner diversity on firm's innovative performance and productivity," Journal of Business Research, Elsevier, vol. 67(9), pages 1839-1849.

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