Imitative innovation and international joint ventures: a dynamic analysis

In this paper we deal with some dynamic issues of international joint venture in the context of a developing country. We provide a rationale for international joint venture formation, as well as its subsequent instability, where instability is interpreted as payoff readjustments between the partners in the venture. Although the joint venture is formed in response to government restrictions on foreign equity holdings in the first period, its subsequent instability is caused by both the change in government policy, as well as the outcome of imitative technological innovation undertaken by the host partner. It is also shown that uncertainty about the government policy in the second period plays an important role in the formation of joint venture in the first period.     

Joint ventures vs. Non-joint ventures: An empirical investigation

This paper describes a longitudinal empirical study comparing joint ventures and non-joint ventures in the petroleum industry as they compete for oil and gas leases. Results indicate that, while enjoying a significant advantage in market power, joint ventures do not perform any better than non-joint ventures at identifying potentially productive leases. Because of the higher payments made for these leases, the overall performance of joint ventures is significantly lower than that of non-joint ventures.     

Supply chain environmental investments in dynamic industries: Comparing investment and performance differences with static industries

Research linking investments in environmental practices to firm performance has matured over the past years. However, empirical research is still ambiguous on how and whether investments in environmental practices improve a plant's performance. We believe that contingency factors, especially the industry in which plants act has a significant role in the success of environmental investments. Using empirical data collected across a wide range of industries our results indicate that plants competing in dynamic industries such as apparel do on average invest less in supply chain environmental practices compared to plants in static industries. In addition, these environmental investments do not significantly improve operational performance in dynamic industries in terms of cost, quality, delivery and flexibility. However, in static industries environmental investments do significantly improve a plant's operational performance in terms of cost, quality and flexibility.     

Are entrepreneurial venture's innovation rates sensitive to investor complementary assets? Comparing biotech ventures backed by corporate and independent VCs

Entrepreneurial ventures are a key source of innovation. Nowadays, ventures are backed by a wide array of investors whose complementary asset profiles differ significantly. We therefore assert that entrepreneurial ventures can no longer be studied as a homogeneous group. Rather, we harness the inherent dichotomy in the profiles of independent VCs and corporate investors to study ventures' innovation outcomes. Our sample consists of 545 U.S. biotechnology ventures founded between 1990 and 2003 and backed by independent venture capitalists (VCs) or corporate VCs (CVC). We find CVCs' investees exhibit higher rates of innovation output, compared to independent VC‐backed peers. Moreover, the performance of CVC‐backed ventures is sensitive to their ability to leverage corporate assets, underscoring the role of CVC accessibility and FDA approval requirements as the mechanisms associated with CVC contribution. Copyright © 2014 John Wiley & Sons, Ltd.     

组织自主创新：理论观点与研究视角述评

文章认为,创新与企业家精神是知识经济时代组织发展与经济成长的重要动力。作者从组织创新理论与创造力理论相结合的角度,对组织自主创新的理论观点和研究视角进行了全面的分析与考察,探索了构建组织自主创新的理论框架,并讨论了网络经济条件下的网络化创新问题。     

Are all ‘sharks’ dangerous? new biotechnology ventures and partner selection in R&D alliances

We examine how new biotechnology firms (NBFs) select pharmaceutical firms as R&D allies as a function of value creation and value appropriation considerations. We develop a theoretical framework to understand partnering decisions accounting for both, a potential partner's ability as well as incentives to appropriate and create value within an R&D alliance. Our empirical findings show that NBFs are more likely to ally with pharmaceutical firms with the ability to create value, as long as these firms have the incentives to use their skills to create rather than appropriate value. Our study highlights the double‐edged sword nature of value creation skills and provides a deeper understanding into the contextual factors that determine when potential R&D partners will perceive such skills as increasing appropriation risks. Copyright © 2012 John Wiley & Sons, Ltd.     

Wholly-owned vs. collaborative ventures for diversifying financial services

Recent empirical work has supported the Penrose-Teece view that firms diversify to exploit fully specific assets or capabilities. Where transactions costs permit, these economies of scope may be realized via input supply contracts among producers. However, asset specificities frequently create transactions costs which discourage market contracting and leave firms with a choice between collaborative ventures and wholly-owned new entry. This research uses the natural experiment of financial services deregulation to explore the collaborative-own entry choice for 292 new entries in 13 financial product markets. The results generally support our maintained hypotheses that specificity encourages full ownership while collaboration is used to ease a resource constraint.     

Strategic Response to a Volatile Environment: The Case of Cross-Cultural Cooperative Ventures

Unlike free-standing companies, joint ventures involve more complex governance structures and organizational systems. Because of interpartner dependence in the managerial process, it is more difficult for joint ventures to configure their strategies with environmental dynamics. Without such configuration, however, joint ventures will suffer from operational instability and resource misallocation. This study assesses the strategic response of joint ventures to a dynamic environment. Based on a survey of top managers in international joint ventures (IJVs) in China, it is found that managerial perceptions of increased environmental complexity and hostility are positively related to an Analyzer strategy. Proactive and Defensive strategies are either negatively or non-significantly linked with perceived environmental dynamics. Further, the Analyzer strategy is associated with superior performance for IJVs in the context of an emerging economy.     

Measures of Joint Venture Performance from Multiple Perspectives: An Evaluation by Local and Foreign Managers in Vietnam

A study was undertaken to identify the most relevant performance evaluation measures for joint venture managers and to analyze differences in perception about joint venture performance between foreign and Vietnamese joint venture managers. The results revealed five factors belonging to three perspectives of particular relevance to managers: operational efficiency (economic indicator), competitiveness and external customer relations (strategic indicators) as well as equity and working relationship (behavioral indicators). This study also points out that under normal operating conditions, there are no significant differences in perception between foreign and Vietnamese joint venture managers regarding both efficiency and equity. This confirms the need for equity in a joint venture relationship in order to maintain balance between the partners and avoid dissolution.     

Standardization and Localization of Human Resource Management in Sino-Foreign Joint Ventures

The international human resource management models developed in the last decade pursue a contextual analysis of the standardization (global integration) of multinational parent companies' human resource management policies and practices and localization (local differentiation) of host countries' practices. This paper extends existing international human resource management models by exploring the characteristics of IJV partners, and their ability to influence whether the IJV adopts standardised or localised HR practices. The hypothesized strategic drivers for the formation of HR policies and practices in IJVs are HR expertise, HR consistency, resource power, and internationalisation experience.     

产业网络成长范式研究：基于创新与互补性资产视角

施氏“产业微笑曲线”认为在成熟的产业经济中,能给产业带来高附加值的关键环节是研发设计和销售品牌环节。然而,随着产业价值链的分解,各个环节形成了大量相对独立厂商,那么原来仅仅依靠技术创新的成长范式已经远远不能够适应产业经济形势的发展,所产生的附加值也没有原来那么高。那么,产业经济需要新的成长发展范式,即企业之间根据不确定性组建产业网络,依靠互补性资产和持续创新实现产业经济的永续发展。