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Autoren: 
Filson, Darren
Morales, Rosa
Datum: 
2001
Reihe/Nr.: 
Claremont Colleges Working Papers in Economics 2001-24
Zusammenfassung: 
We use a simple model of collaborative innovation to structure an empirical analysis of minority equity links in biotechnology alliances between clients and R&D firms. In the model, an equity link is an investment in information acquisition: it improves the ability of the client to learn about the R&D firm’s ability and the alliance project’s quality. The model generates several testable hypotheses about how the R&D firm’s project characteristics and previous alliances affect the use of equity links in new alliances. We test the hypotheses using a large data set of biotechnology alliances and find empirical support.
Schlagwörter: 
alliance
collaboration
integration
joint venture
technological change
JEL: 
L14
L22
O32
Dokumentart: 
Working Paper
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