Abstract
The formation of R&D alliances has become an increasingly popular way to achieve improved innovation outcomes. However, R&D alliances face high failure rates due to the dual nature, cooperation and competition, of what can be a very challenging inter-firm relationship, a problem that is compounded when an alliance involves more than two partners. As such, it is important to understand the mechanisms that encourage cooperation in multilateral alliances to help firms achieve desired innovation outcomes. In this study, we hypothesize two such mechanisms: equity governance structure and multi-technology scope. We test our hypotheses using panel data from the pharmaceutical industry spanning 15years. Our results support the idea that equity governance and having a multiple technology scope are positively related to innovation outcomes in multilateral alliances.
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