Article: Global innovation generation and financial performance in business-to-business relationships: The case of cross-border alliances in the pharmaceutical industry

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Title	Global innovation generation and financial performance in business-to-business relationships: The case of cross-border alliances in the pharmaceutical industry
Authors	Sivakumar, K4 Roy, S1 Zhu, J2 Hanvanich, S3
Keywords	Business-to-business relationships Financial performance Global innovation generation Pharmaceutical industry Strategic alliances
Issue Date	2011
Publisher	Springer Netherlands
Citation	Journal Of The Academy Of Marketing Science, 2011, v. 39 n. 5, p. 757-776 [How to Cite?] DOI: http://dx.doi.org/10.1007/s11747-010-0229-y
Abstract	The past few decades have witnessed a significant increase in the number of cross-border strategic alliances among firms. We focus on the role of alliance expertise (alliance experience and diversity of partners) and alliance governance (horizontal vs. vertical alliances and joint venture vs. other alliances) in global innovation generation. We also examine the effect of these variables on the financial performance of the focal firm. The conceptual model is tested using an empirical analysis of cross-border alliances formed by U. S. pharmaceutical companies from 1985 to 2008. We find that while prior alliance experience has a positive association with global innovation generation, diversity of partners has a negative relationship. In addition, whether the alliance is horizontal or vertical has no bearing on the innovation generation, but joint ventures are associated with more global innovation generation than other types of alliances. Finally, as global innovation generation increases, financial performance increases up to a point but thereafter exhibits a negative relationship. © 2010 The Author(s).
ISSN	0092-0703 2011 Impact Factor: 2.671 2011 SCImago Journal Rankings: 0.054
DOI	http://dx.doi.org/10.1007/s11747-010-0229-y
ISI Accession Number ID	WOS:000294353600007
References	References in Scopus

DC Field	Value
dc.contributor.author	Sivakumar, K
dc.contributor.author	Roy, S
dc.contributor.author	Zhu, J
dc.contributor.author	Hanvanich, S
dc.date.accessioned	2012-02-21T05:44:45Z
dc.date.available	2012-02-21T05:44:45Z
dc.date.issued	2011
dc.description.abstract	The past few decades have witnessed a significant increase in the number of cross-border strategic alliances among firms. We focus on the role of alliance expertise (alliance experience and diversity of partners) and alliance governance (horizontal vs. vertical alliances and joint venture vs. other alliances) in global innovation generation. We also examine the effect of these variables on the financial performance of the focal firm. The conceptual model is tested using an empirical analysis of cross-border alliances formed by U. S. pharmaceutical companies from 1985 to 2008. We find that while prior alliance experience has a positive association with global innovation generation, diversity of partners has a negative relationship. In addition, whether the alliance is horizontal or vertical has no bearing on the innovation generation, but joint ventures are associated with more global innovation generation than other types of alliances. Finally, as global innovation generation increases, financial performance increases up to a point but thereafter exhibits a negative relationship. © 2010 The Author(s).
dc.description.nature	published_or_final_version
dc.description.other	Springer Open Choice, 21 Feb 2012
dc.identifier.citation	Journal Of The Academy Of Marketing Science, 2011, v. 39 n. 5, p. 757-776 [How to Cite?] DOI: http://dx.doi.org/10.1007/s11747-010-0229-y
dc.identifier.citeulike	8180759
dc.identifier.doi	http://dx.doi.org/10.1007/s11747-010-0229-y
dc.identifier.eissn	1552-7824
dc.identifier.epage	776
dc.identifier.isi	WOS:000294353600007
dc.identifier.issn	0092-0703 2011 Impact Factor: 2.671 2011 SCImago Journal Rankings: 0.054
dc.identifier.issue	5
dc.identifier.openurl
dc.identifier.scopus	eid_2-s2.0-80052049070
dc.identifier.spage	757
dc.identifier.uri	http://hdl.handle.net/10722/145100
dc.identifier.volume	39
dc.language	Eng
dc.publisher	Springer Netherlands
dc.publisher.place	Netherlands
dc.relation.ispartof	Journal of the Academy of Marketing Science
dc.relation.references	References in Scopus
dc.rights	The Author(s)
dc.rights	Creative Commons: Attribution 3.0 Hong Kong License
dc.subject	Business-to-business relationships
dc.subject	Financial performance
dc.subject	Global innovation generation
dc.subject	Pharmaceutical industry
dc.subject	Strategic alliances
dc.title	Global innovation generation and financial performance in business-to-business relationships: The case of cross-border alliances in the pharmaceutical industry
dc.type	Article

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Author Affiliations

University of New Haven
The University of Hong Kong
Hanvanich Financial LLC
Lehigh University