New knowledge (especially technological knowledge) is viewed as the foundation for innovation, change, and sustainable competitive advantage. Today, there is no doubt that knowledge is one of the most strategic weapons that can lead to achieving competitive success (Grant, 1996). The primary role of research and development (R&D) within organizations is to create new knowledge or recombine exis...

P research suggests that equity joint ventures (JVs) are particularly effective vehicles for accessing complex technology. Different schools of thought have emphasized different reasons why joint ventures might support greater knowledge transfer than “bare” license agreements: incentive alignment, organizational embeddedness, and enhanced administrative controls. We probe and refine these theor...

Cooperative business relationships are dramatically changing the structure of the North American agri-food sector. An examination of recent events in the grain industry reveals the extent to which cooperative ventures are becoming integrated into international agribusiness. When Cargill decided to expand its presence in Canada it participated in several joint ventures, one with Hazzard Farm Ser...

In today's venture capital market, starting a technology-based company is—to say the least—challenging. After exerting the efforts necessary to develop a compelling business plan, secure necessary intellectual property rights and build the beginnings of a management team, it might seem like the offer of investment from a venture capital firm is the deserved icing on the cake. But there's still ...

This paper provides a theory that explains the sizeable excess return to venture equity, and ties it to the high VC discount rates, i.e., to VC impatience. The theory is based on the shortage of venture capitalists (VCs) — people who have the expertise to assess the profitability of projects, and have liquidity to finance them. A VC must supply not only money but also his time, and it is the sc...

Prediction of the performance of international joint ventures remains a relatively underresearched area, yet its importance is well recognized due to the tremendous surge in joint venture activities in the past decade. Data on 1,463 Sino–Hong Kong joint ventures were gathered and those that appeared on the Honor Roll of the China Association of Enterprises with Foreign Investment are identified...