Joint venture research and development activity: an analysis of the international biotechnology industry

Malika Richards and Donna Marie De Carolis

Journal of International Management, 2003, vol. 9, issue 1, 33-49

Abstract: The research question we investigate is under what conditions will joint ventures engage in research and development (R&D) activity within the context of a global, high-technology environment. To explore this question, we examine the collective impact of initial conditions that influence the presence of R&D activity among joint ventures (JVs) formed in the global biotechnology industry. Our investigation is driven by two streams of research in joint ventures: transaction costs and initial conditions. Specifically, we examine whether business relatedness, cultural relatedness, country risk, and prior joint venture experience are related to R&D activity in joint ventures. Our results show that cultural relatedness and country risk factors do matter when it comes to R&D activity in biotechnology joint ventures. On the other hand, business similarities and prior JV experience between the parents do not seem to be as important as one might expect.

Keywords: Joint; venture; Research; and; development; Biotechnology (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (12)

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