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The Hidden Agenda behind Markets for Technology

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Authors

이용욱

Advisor
송재용
Major
경영대학 경영학과
Issue Date
2017-08
Publisher
서울대학교 대학원
Keywords
Innovationinter-firm relationshipsCVCKnowledge Acquisition
Description
학위논문 (석사)-- 서울대학교 대학원 경영대학 경영학과, 2017. 8. 송재용.
Abstract
In this paper, I aim to better understand why firms enter inter-organizational relationships. Previous studies have shown that firms engage in partnerships to internalize knowledge from its partners. I propose that firms form inter-firm ties to acquire knowledge from their partner's R&D portfolio as well. Using VentureXpert and SDC Platinum databases, my findings show that Corporate Venture Capitals (CVCs) are more likely to invest in an entrepreneurial firm with an R&D partner over one without. Further, I find that my baseline findings are stronger in industries with weak intellectual property protection (IPP) regimes and when the venture firm's alliance partner operates in a similar industry with the CVC. To resolve endogeneity issues, I provide an additional analysis differentiating investor types. My paper indicates that, under certain contingencies, firms do engage in inter-firm relationships to learn from the partner's R&D portfolio.
Language
English
URI
https://hdl.handle.net/10371/137293
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