Technological dissimilarity in R&D alliances: The moderating effects of exploratory strategy and knowledge stock

Abstract

本研究旨在於探索研發聯盟夥伴之間的技術差異性是否影響營運績 效。根據知識基礎理論，本研究認為技術差異性對於聯盟參與公司的績效會 產生曲線型的影響。除了探討技術差異性對參與公司績效的影響外，亦進一 步分析參與公司的探索策略與知識存量之調節效果。依據 2001-2014 年間的 747 筆公司年樣本，本研究發現技術差異性與聯盟參與公司的績效之間呈現 倒 U 型的關係，而探索策略與知識存量則會對此關係產生正向調節效果。 針對本研究發現的解釋以及所衍生之理論與實務意涵，也於文中詳述。

This study aims to examine how technological diversity between R&D partners affects firm performance. Drawing on the knowledge-based view, we posit that partner technological dissimilarity between R&D alliance partners has a curvilinear relationship with firm performance. Furthermore, two factors: a firm’s exploration strategy and knowledge stock, are identified as moderating this relationship. We conducted analyses on 747 R&D alliances announced during the period of 2001–2014 in the U.S. biopharmaceutical industry. The results reveal an inverted-U shaped relationship between partner technological dissimilarity and firm performance, which is positively moderated by a firm’s knowledge stock and exploration strategy. Possible explanations for our findings as well as their theoretical and practical implications are subsequently discussed herein.