Abstract This paper focuses on technology alliances between R&D intensive biotechnology firms and larger pharmaceutical companies. It aims to investigate whether the biotech partners can leverage the depth and the breadth of their knowledge resources to retain their equity ownership when forming an alliance, and whether prior alliance experience adds to their overall leverage. Using a sample of 390 alliances formed between US biotechnology and pharmaceutical companies, we find that biotech firms with deeper technological resources are more likely to retain their equity ownership, and that this relationship is stronger when the biotech firm has more alliance experience.

中文翻译：

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知识的深度和广度以及技术联盟的治理

摘要 本文关注研发密集型生物技术公司与大型制药公司之间的技术联盟。它旨在调查生物技术合作伙伴在组建联盟时是否可以利用其知识资源的深度和广度来保留其股权，以及先前的联盟经验是否增加了他们的整体影响力。以美国生物技术公司与制药公司结成的 390 个联盟为样本，我们发现技术资源较深的生物技术公司更有可能保留其股权，并且这种关系在生物技术公司具有更多的联盟经验时更加牢固。