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New ventures' inward licensing: examining the effects of industry and strategy characteristics


Keil, Thomas; Maula, Markku; Zahra, Shaker A (2005). New ventures' inward licensing: examining the effects of industry and strategy characteristics. European Management Review, 2(3):154-166.

Abstract

New ventures compete by creating innovative products. Liabilities of newness and inexperience, limited resources, rapid technological obsolescence and constantly changing market conditions often encourage new ventures to license other companies' technologies to complement and augment their internally developed innovations. Building on the knowledge-based view of the firm, we propose that the intensity of new ventures' use of inward licensing reflects the demands of their industries and competitive strategies. The results of an empirical study of 361 US new ventures show that industry characteristics and competitive strategy influence their inward licensing as a means of lowering costs and maintaining strategic flexibility while building their capabilities.

Abstract

New ventures compete by creating innovative products. Liabilities of newness and inexperience, limited resources, rapid technological obsolescence and constantly changing market conditions often encourage new ventures to license other companies' technologies to complement and augment their internally developed innovations. Building on the knowledge-based view of the firm, we propose that the intensity of new ventures' use of inward licensing reflects the demands of their industries and competitive strategies. The results of an empirical study of 361 US new ventures show that industry characteristics and competitive strategy influence their inward licensing as a means of lowering costs and maintaining strategic flexibility while building their capabilities.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Business Administration
Dewey Decimal Classification:330 Economics
Language:English
Date:2005
Deposited On:20 Jun 2013 14:44
Last Modified:05 Apr 2016 16:48
Publisher:Wiley-Blackwell
ISSN:1740-4754
Publisher DOI:https://doi.org/10.1057/palgrave.emr.1500042
Other Identification Number:merlin-id:8142

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