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| Author: | Lerner, J. Merges, R. |
| Title: | The control of technology alliances: an empirical analysis of the biotechnology industry |
| Journal: | Journal of Industrial Economics
1998 : JUN, VOL. 46:2, p. 125-156 |
| Index terms: | CONTROL TECHNOLOGY ALLIANCES |
| Language: | eng |
| Abstract: | The authors examine the determinants of control rights in biotechnology alliances through three case studies and a quantitative analysis. Aghion and Tirole (1994) argue that control rights will be assigned so as to maximize the value of the final output, as lons as the R&D firm has sufficient financial resources. Consistent with this framework, the allocation of control rights to the R&D firm increases with the firm's financial resources. |
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