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Partner selection in R&D collaborations : effects of affiliations with venture capitalists
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Reuer, J. J. and Devarakonda, R. (2017) Partner selection in R&D collaborations : effects of affiliations with venture capitalists. Organization Science, 28 (3). pp. 574-595. doi:10.1287/orsc.2017.1124
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Official URL: https://doi.org/10.1287/orsc.2017.1124
Abstract
This paper extends information economics to the literature on alliance partner selection by demonstrating how VCs can facilitate R&D collaborations. We investigate a new role for VCs – information intermediation – that can enable R&D partnerships between entrepreneurial ventures that lack knowledge of each other’s technological resources. In contrast to the more diffuse signaling benefits entrepreneurial ventures obtain by affiliating with prominent VCs, backing by a common VC can privately and directly reduce information asymmetries between entrepreneurial ventures. We demonstrate that the effects of VC information intermediation are more pronounced when prospective collaborators are at the earliest stages of product development and when they find it difficult to judge each other’s technological resources, such as when they do not have previous partnerships together, do not draw upon each other’s knowledge bases, and have dissimilar technology portfolios. We empirically investigate the multiple different ways in which VCs potentially facilitate R&D partner selection and identify specific conditions under which VCs’ information intermediation function contributes to segmentation in markets for R&D alliances.
| Item Type: | Journal Article | ||||||
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| Subjects: | H Social Sciences > HD Industries. Land use. Labor | ||||||
| Divisions: | Faculty of Social Sciences > Warwick Business School > Strategy & International Business Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Strategic alliances (Business), Partnership, Venture capital, Knowledge management | ||||||
| Journal or Publication Title: | Organization Science | ||||||
| Publisher: | Institute for Operations Research and the Management Sciences (I N F O R M S) | ||||||
| ISSN: | 1047-7039 | ||||||
| Official Date: | 31 March 2017 | ||||||
| Dates: |
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| Volume: | 28 | ||||||
| Number: | 3 | ||||||
| Page Range: | pp. 574-595 | ||||||
| DOI: | 10.1287/orsc.2017.1124 | ||||||
| Status: | Peer Reviewed | ||||||
| Publication Status: | Published | ||||||
| Access rights to Published version: | Restricted or Subscription Access |
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