The effect of alliances on innovation patterns: an analysis of the biotechnology industry
The purpose of this article is to show the effect of different types of alliances on the innovation patterns of successful firms in the biotechnology industry. Using a new approach to measuring changes in innovation patterns across technology classes, the results show that alliances are formed to specialize in a certain research field, rather than to enter a completely new market. The importance of this effect declines as the equity involvement of the partners in the alliance project increases. Copyright 2013 The Author 2012. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.