Equity Links and Information Acquisition in Biotechnology Alliances

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Claremont Colleges Working Papers in Economics ; No. 2001-24

Classification and Topics

• Classification: Wirtschaft ; Transactional Relationships; Contracts and Reputation; Networks ; Firm Organization and Market Structure ; Management of Technological Innovation and R&D
• Subject: alliance ; collaboration ; integration ; joint venture ; technological change

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Filson, Darren ; Morales, Rosa
• Event: Veröffentlichung
• (who): Claremont McKenna College, Department of Economics
• (where): Claremont, CA
• (when): 2001

Further information

• Handle: http://hdl.handle.net/10419/94562
• Last update: 10.03.2025, 11:43 AM CET