The process of value realization in asymmetric new venture development alliances: Governing the transition from exploration to exploitation.

D.L.M. Faems, Bart van Looy, M. Janssens, P. Vlaar

Research output: Contribution to journalArticleAcademicpeer-review

10 Citations (Scopus)

Abstract

Based on a case study of three asymmetric new venture development (ANVD) alliances, we examine the governance of transitions from exploration to exploitation. We propose that role deficiencies, technological asymmetry, and the presence of a separate venture unit at established firms constitute important initial conditions influencing value realization in ANVD alliances. We further show that role-specific investments act as more appropriate mechanisms than contractual incentives to govern transitions from exploration to exploitation. Jointly, these findings provide new insights into the impact of structural and relational governance mechanisms on value creation in interfirm relationships
Original languageEnglish
Pages (from-to)508-527
JournalJournal of engineering and technology management
Volume29
Issue number4
DOIs
Publication statusPublished - 2012

Keywords

  • IR-83033
  • METIS-279479

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