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Liczba wyników
2016 | 8 | nr 1 | 7--20
Tytuł artykułu

Do Strategic Alliances, Acquisitions, and R&D Investments Act as Complements or Substitutes?

Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
This paper studies possible complementarities and substitution effects between such strategic choices as alliances, acquisitions and internal R&D investments. The findings indicate that a firm's absorptive capacity affects the presence of complementarities and substitution effects among those strategic choices. Firms with high absorptive capacity exhibit substitution effects between alliances and acquisitions and between alliances and internal R&D investments. Firms with high absorptive capacity also exhibit complementarities between acquisitions and additional R&D investments. These results were obtained from panel data of large and medium U.S. companies spanning the years 1998-2009. The results are robust to the use of different measures of performance: profitability, market-tobook value, and sales growth. This paper contributes to our understanding of the role of absorptive capacity for the optimal choice of inter-organizational strategy vs. greater internal R&D investments. (original abstract)
Rocznik
Tom
8
Numer
Strony
7--20
Opis fizyczny
Twórcy
  • University of Houston Clear Lake, Houston, Texas United States
Bibliografia
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
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