Abstract
The paper analyzes the effects of international research alliances on the performance of NTBFs (new technology-based firms) by adopting a framework that incorporates both the resource-based view and the global strategic network theory. The paper focuses on the European Union-funded international research joint ventures established by a large sample of Italian NTBFs over the 1994-2003 period. We measure firm performance through total factor productivity and use the GMM system estimator to evaluate the impact of such alliances on the performance of NTBFs. Our results suggest that NTBFs are more efficient when allied with industrial partners located in different countries and when these countries are closer to world knowledge sources.
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