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

研發聯盟夥伴之技術差異性：探索策略與知識存量之調節效果

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.