Why Firms Form Research Joint Ventures: Theory and Evidence

Lars-Hendrik Röller, Ralph Siebert and Mihkel Tombak

No 1654, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: The literature on research joint ventures (RJVs) has emphasized internalizing spillovers and cost-sharing as motives for RJV formation. In this paper we develop two additional explanations: product market complementarities and firm heterogeneity. We analyse a model of RJVs with asymmetric firms and differentiated products. We then test these various explanations for RJV formation using data now available through the US National Cooperative Research Act.

Keywords: Joint Ventures; Product Market Competition; Research And Development (search for similar items in EconPapers)
JEL-codes: L0 L6 O3 (search for similar items in EconPapers)
Date: 1997-05
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Citations: View citations in EconPapers (44)

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Working Paper: Why Firms Form Research Joint Ventures: Theory and Evidence (1997)
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