The Determinants of Organizational Form in the Biotechnology Industry: An Integrative Organizational Economics Framework
Kim, Jong Wook
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https://hdl.handle.net/2142/84535
Description
Title
The Determinants of Organizational Form in the Biotechnology Industry: An Integrative Organizational Economics Framework
Author(s)
Kim, Jong Wook
Issue Date
2004
Doctoral Committee Chair(s)
Mahoney, Joseph T.
Department of Study
Business Administration
Discipline
Business Administration
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Business Administration, Management
Language
eng
Abstract
The inherently high level of uncertainty involved in alliances and the great discrepancy between the alliance partners' respective size and perspectives on the alliance were found to have an important impact on how client firms invested in R&D firms. Another important finding is that informal contracting mechanisms like reputation effects and repeated contracting seem to have complementary effects on the choice of organizational form, particularly in the magnitude of equity investment, rather than substituting for each other. Furthermore, the nature of equity investment in the pharmaceutical-biotechnology alliances in this sample suggests that investments are not made so much for equity participation, but as a financing method, and possibly as a signal of commitment. Lastly, the informal mechanisms seem to be byproducts of doing business, and thus seem to have little impact on the margin, but perhaps with the accumulation from many prior alliances and goodwill, may have some impact.
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