Alliances and survival of new biopharmaceutical ventures in the wake of the global financial crisis

Xia, Tianjiao ORCID: https://orcid.org/0000-0001-7686-4460 and Dimov, Dimo (2019) Alliances and survival of new biopharmaceutical ventures in the wake of the global financial crisis. Journal of Small Business Management, 57 (2). pp. 362-385. ISSN 0047-2778

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Abstract

Engaging in exploration and exploitation is essential to business survival and performance. While firms manage exploration and exploitation alliances for the long-term, how prepared are they for sudden shocks in the short-term? We address this question in the context of a unique and opportune natural experiment associated with the 2008 financial crisis. Our analysis of 155 new biopharmaceutical ventures over a seven-year period suggests that exploration alliances—with a long-term orientation—make a firm more vulnerable to external shocks. In contrast, exploitation alliances as well as a balance between exploration and exploitation alliances—which underlie short-term performance—enable the firm to sustain external shocks.

Item Type:	Article
Uncontrolled Keywords:	business, management and accounting(all),strategy and management,management of technology and innovation ,/dk/atira/pure/subjectarea/asjc/1400
Related URLs:	http://www.scopus.com/inward/record.url?... https://livrepository.liverpool.ac.uk/30...
Depositing User:	LivePure Connector
Date Deposited:	12 Jun 2020 00:15
Last Modified:	03 Aug 2023 16:30
URI:	https://ueaeprints.uea.ac.uk/id/eprint/75574
DOI:	10.1111/jsbm.12331

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