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Title:The Determinants of Organizational Form in the Biotechnology Industry: An Integrative Organizational Economics Framework
Author(s):Kim, Jong Wook
Doctoral Committee Chair(s):Mahoney, Joseph T.
Department / Program:Business Administration
Discipline:Business Administration
Degree Granting Institution:University of Illinois at Urbana-Champaign
Subject(s):Business Administration, Management
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.
Issue Date:2004
Description:133 p.
Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 2004.
Other Identifier(s):(MiAaPQ)AAI3130954
Date Available in IDEALS:2015-09-25
Date Deposited:2004

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