Why Firms Form Research Joint Ventures: Theory and Evidence

Lars-Hendrik Röller, Mikhel M. Tombak and Ralph Siebert

No FS IV 97-06, CIG Working Papers from Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG)

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 analyze 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 U.S. National Cooperative Research Act. ZUSAMMENFASSUNG - (Warum Unternehmen Forschungs-Joint Ventures gründen: Theorie und Empirie) Die Literatur über Forschungs-Joint Ventures (FJVs) hat die Internalisierung von Spillovers und die Kostenaufteilung als Motive für das Entstehen von FJVs hervorgehoben. In dieser Studie werden zwei weitere Erklärungen mitaufgenommen: die Produktmarktkomplementarität und die Unternehmensheterogenität. Diese Motive werden mit Hilfe von Daten, die aufgrund des U:S:-amerikanischen "National Cooperative Research Act" verfügbar sind, getestet.

Keywords: Research & Development; Joint Venture; Product Market Competition (search for similar items in EconPapers)
Pages: 30 pages
Date: 1997-03, Revised 1997-10
New Economics Papers: this item is included in nep-com, nep-ind and nep-tid
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Citations: View citations in EconPapers (33)

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