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Alliances and the innovation performance of corporate and public research spin-off firms

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  • Hagedoorn, John

    (Organisation,Strategy & Entrepreneurship, Mt Economic Research Inst on Innov/Techn, RS: GSBE TIID)

  • Lokshin, Boris

    (Organisation,Strategy & Entrepreneurship, RS: GSBE TIID)

  • Malo, Stéphane

Abstract

We explore the innovation performance benefits of alliances for spin-off firms, in particular spin-offs from either other firms or from public research organizations. During the early years of the emerging combinatorial chemistry industry, the industry on which our empirical analysis focuses, spin-offs engaged in alliances with large and established partners, partners of similar type and size, and with public research organizations, often for different reasons. We seek to understand to what extent alliances of spin-offs with other firms (either large or small and medium sized firms) affected their innovation performance and also how this performance may have been affected by their corporate or public research background. We find evidence that in general alliances of spin-offs with other firms, in particular alliances with large firms, increased their innovation performance. Corporate spin-offs that formed alliances with other firms outperformed public research spin-offs with such alliances. This suggests that, in terms of their innovation performance, corporate spin-offs that engaged in alliances with other firms seemed to have benefitted from their prior corporate background. Interestingly, it turns out that the negative impact of alliances on the innovation performance of public research spin-offs was largely affected by their alliances with small and medium sized firms.

Suggested Citation

  • Hagedoorn, John & Lokshin, Boris & Malo, Stéphane, 2016. "Alliances and the innovation performance of corporate and public research spin-off firms," Research Memorandum 041, Maastricht University, Graduate School of Business and Economics (GSBE).
  • Handle: RePEc:unm:umagsb:2016041
    DOI: 10.26481/umagsb.2016041
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    More about this item

    JEL classification:

    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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