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Article: The timing of codevelopment alliances in new product development processes: Returns for upstream and downstream partners

TitleThe timing of codevelopment alliances in new product development processes: Returns for upstream and downstream partners
Authors
KeywordsAbnormal stock returns
Upstream partner
Downstream partner
Transaction costs
Codevelopment timing
Issue Date2015
Citation
Journal of Marketing, 2015, v. 79, n. 1, p. 64-82 How to Cite?
Abstract© 2015, American Marketing Association.Upstream biotech firms (i.e., upstream partners) and downstream pharmaceutical firms (i.e., downstream partners) often form alliances to cope with performance uncertainty and to exploit product specificity in new product development. Although the performance implications of such alliances have been investigated, research has not offered insight into how the timing of such codevelopment alliances influences partner returns. The authors develop and test predictions that timing changes the costs and benefits accruing to upstream and downstream partners and that the effect of timing is influenced by a set of alliance, firm, and market conditions. An event study of 276 codevelopment agreements between biotech and pharmaceutical firms during 1998-2010 reveals that alliance governance structure, partner technological capability, and the competitiveness of market environments change the abnormal returns achieved by partners entering these relationships in important ways.
Persistent Identifierhttp://hdl.handle.net/10722/230975
ISSN
2015 Impact Factor: 3.885
2015 SCImago Journal Rankings: 6.612

 

DC FieldValueLanguage
dc.contributor.authorFang, Eric-
dc.contributor.authorLee, Jongkuk-
dc.contributor.authorYang, Zhi-
dc.date.accessioned2016-09-01T06:07:17Z-
dc.date.available2016-09-01T06:07:17Z-
dc.date.issued2015-
dc.identifier.citationJournal of Marketing, 2015, v. 79, n. 1, p. 64-82-
dc.identifier.issn0022-2429-
dc.identifier.urihttp://hdl.handle.net/10722/230975-
dc.description.abstract© 2015, American Marketing Association.Upstream biotech firms (i.e., upstream partners) and downstream pharmaceutical firms (i.e., downstream partners) often form alliances to cope with performance uncertainty and to exploit product specificity in new product development. Although the performance implications of such alliances have been investigated, research has not offered insight into how the timing of such codevelopment alliances influences partner returns. The authors develop and test predictions that timing changes the costs and benefits accruing to upstream and downstream partners and that the effect of timing is influenced by a set of alliance, firm, and market conditions. An event study of 276 codevelopment agreements between biotech and pharmaceutical firms during 1998-2010 reveals that alliance governance structure, partner technological capability, and the competitiveness of market environments change the abnormal returns achieved by partners entering these relationships in important ways.-
dc.languageeng-
dc.relation.ispartofJournal of Marketing-
dc.subjectAbnormal stock returns-
dc.subjectUpstream partner-
dc.subjectDownstream partner-
dc.subjectTransaction costs-
dc.subjectCodevelopment timing-
dc.titleThe timing of codevelopment alliances in new product development processes: Returns for upstream and downstream partners-
dc.typeArticle-
dc.description.natureLink_to_subscribed_fulltext-
dc.identifier.doi10.1509/jm.13.0490-
dc.identifier.scopuseid_2-s2.0-84922041911-
dc.identifier.volume79-
dc.identifier.issue1-
dc.identifier.spage64-
dc.identifier.epage82-
dc.identifier.eissn1547-7185-

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