Collaborative Value Creation (eBook)

Foreword 5
Preface 6
Table of Contents 7
List of Abbreviations 12
List of Variables 14
List of Symbols 19
1 Introduction 22
1.1 Motivation 22
1.2 Research Agenda 25
1.2.1 Research Objectives 25
1.2.2 Research Approach 28
1.3 Conceptual Foundations 30
1.3.1 Definition: Collaboration and Alliances 31
1.3.2 Setting: Biotechnology Industry 33
1.3.3 Measure: Collaborative Value 45
2 Foundations of Collaborative Value Creation 48
2.1 Introduction 48
2.2 Strategic Mechanisms of Collaborative Value Creation 50
2.3 Organizational Economics of Collaboration 79
2.3.1 Transaction Cost Economics and Alliance Structure 79
2.3.2 Agency and Game Theories of Cooperation 92
2.4 A Dynamic Theory of Cooperative Value Creation 104
2.4.1 Background and Value-Creating Mechanism 104
2.4.2 Dynamic Collaborative Benefits 107
2.5 Summary and Discussion of Propositions 120
3 The Value Impact of Corporate Collaboration 125
3.1 Aggregate Effects on Firm Value 126
3.2 Drivers of Variation in Collaborative Value Creation 133
3.3 Summary and Discussion 156
4 Data and Empirical Methodology 171
4.1 Sample Selection 172
4.2 Data Coding 188
4.3 Event Study Procedure 211
4.4 Time-Series Analysis 228
4.5 Cross-Sectional and Panel-Data Approaches 241
4.6 Summary 253
5 Results of Empirical Investigation 255
5.1 Announcement Effects of Alliance-Related Announcements 255
5.2 Univariate Analysis of Value Impact 271
5.3 Multivariate Analysis of Collaborative Value Creation 276
5.4 Firm-Specific Effects and Self-Selection 318
6 Discussion of Results and Conclusion 334
6.1 Summary and Retrospective 334
6.2 Limitations and Directions for Future Research 341
6.3 Real-World Implications 345
Appendices 348
Appendix to Chapter 1: Introduction and Background 349
Appendix to Chapter 2: Foundations of Collaborative Value 356
Appendix to Chapter 3: Value Impact of Collaboration 379
Appendix to Chapter 4: Data and Empirical Methodology 416
Appendix to Chapter 5: Results of Empirical Investigation 473
Appendix to Chapter 6: Discussion of Results and Conclusion 526
References 528