Abstract
This paper investigates the incentives to participate in research joint ventures from the perspective of overall business diversification behavior. It presents evidence that: (a) RJVs tend to put together industrial activities differently than single firms; and, (b) the diversification decisions of RJV participants are triggered partly differently than the analogous decisions of firms that have not participated in the examined large set of RJVs. The results indicate that RJVs facilitate “experimentation.” They also indicate that the policy debate on inter-firm cooperation in R & D must consider the likely differences in strategic behavior between frequent RJV participants and other firms.
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