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| Author: | Vrande, V. van de Lemmens, C. Vanhaverbeke, W. |
| Title: | Choosing governance modes for external technology sourcing |
| Journal: | R & D Management
2006 : JUN, VOL. 36:3, p. 347-363 |
| Index terms: | mergers joint business ventures technology innovation |
| Language: | eng |
| Abstract: | In this study, examined is the effect of uncertainty on governance (here as: gov.) mode (as: md./mds.) choice of interfirm relationships in new business development (NBD). Combined are transaction cost economics and real options reasoning, arguing that in the early stages of NBD, where technological and market uncertainty are very high, companies are better off using gov. mds. that are reversible, involving a low level of commitment. With decreased uncertainty due to prior R&D investments, transaction costs considerations become dominant and companies will shift towards gov. mds. less reversible and more hierarchical. It is argued that technological distance leads to less hierarchical gov. mds. and prior cooperation btw. firms leads to subsequent choices for more hierarchical mds. |
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