류원상 교수

This study advances previous research on the competitive aspects of research and development (R&D) collaborations that has been mainly interested in knowledge protection concerns in alliances between direct rivals. We join the alliance and agglomeration literatures and argue that geographic co-location between a focal firm’s partner and rivals introduces potential indirect paths of knowledge leakage to rivals. Geographic co-location creates significant risks of unintentional knowledge spillovers

Abstract Research summary We investigate how multimarket contact between prospective partners affects their partner selection for technology cooperation. Drawing on the multimarket competition literature, we argue that multimarket contact generates mutual forbearance from opportunism by enabling broad retaliation across the shared markets against opportunism. As a result, multimarket contact between potential partners makes them prefer each other as partners for technology cooperation. We also c

Abstract Research Summary We examine how learning‐by‐doing (LBD) rates in manufacturing, the extent to which performance depends on own production experience, are associated with firms' diversification decisions. We argue that the LBD rates of industries affect the characteristics of not only the first‐order knowledge that firms generate via operating a particular process but also the second‐order knowledge that firms develop about the learning process itself. We maintain that first‐order knowle

Abstract Research Summary We investigate why a corporate investor makes more corporate venture capital (CVC) investments in certain areas than in others. Focusing on firms' different technological capabilities across distinct technology domains, we argue that a corporate investor's technological capabilities in a given domain affect its likelihood of investing in (1) ventures within the domain in an inverted U‐shaped manner and (2) ventures operating in other technologically complementary domain

Abstract Although the analyst profession has rapidly expanded internationally, very few studies have examined the distinct role of international analysts in the global economy. Motivated to address this need, we examine the role of international analysts as key intermediaries connecting local firms with foreign investors. Specifically, we investigate whether and under what circumstances the international analyst community in a host country influences foreign equity investment in the country. Our

We investigate how the size of the geographic cluster in which a firm is located influences its governance choice between equity and non‐equity alliances and subsequent innovation performance. We argue that firms located in larger clusters tend to form non‐equity alliances rather than equity alliances because the communication and control benefits of cluster membership, which increase with cluster size, reduce in‐cluster firms' need to form equity alliances. We also claim that the effect of this

We investigate how multimarket contact between two firms influences the likelihood of alliance formation between them. Application of conventional I/O-based alliance theory would suggest that two firms are more likely to enter into an alliance as they share more markets because the monopolistic rent that they can expect from the alliance (i.e., market power potential) increases with the degree of multimarket contact between them. We suggest a novel, efficiency-oriented mechanism through which mu

We investigate how competitive relationships between R&D alliance partners in high-technology industries affect their alliance governance choices. The alliance literature has interpreted direct competition in end-product markets between alliance partners as a factor aggravating contractual hazards by increasing the private benefits from opportunism. However, drawing on the multimarket competition literature, we claim that multimarket contact can generate mutual forbearance from opportunism and t

So far, the determination of recipients of direct public assistance funds (BLSM) is still not accurate. Therefore we need a decision support system application program that can assist in making a decision accurately and quickly to get accurate selection results. The method used in this application is the Analytical Hierarchy Process (AHP) where the classification process is carried out in a hierarchical manner, providing a comparison value for each criterion to determine the criteria value. This

Information economics and transaction cost economics are two prominent theoretical perspectives used by scholars to understand firms’ corporate development choices. Our study highlights the interplay of these two theories by examining how industry-level learning-by-doing (LBD) rates affect firms’ choices related to acquisitions and alliances. An industry LBD rate reflects the extent to which performance is dependent on own production experience. We argue that this rate also reflects the nature o

The previous literature on R&D alliances between incumbent firms and technology ventures has typically focused on knowledge misappropriation by the incumbent firm of the knowledge possessed by the technology venture. As an extension, we join the alliance literature with the agglomeration literature to argue that the incumbent firm is also prone to the risk of knowledge loss when the technology venture is co-located with major rivals of the incumbent firm. Co-location between the technology ventu

This paper investigates how the exit strategies of hybrid entrepreneurs in academic institutions (i.e., academic hybrid entrepreneurs) influence the financing that they receive from corporate venture capital (CVC) investors. We first propose that academic hybrid entrepreneurs have a strong preference for acquisitions over initial public offerings (IPOs) as an exit strategy of their ventures because they face high opportunity and switching costs associated with full-time self-employment. Building

In this dissertation, I investigate the interplay between competition and cooperation in R&D alliances. The alliance literature on this issue has emphasized that product market rivalry (i.e., market overlap) between partnering firms aggravates cooperation hazards by increasing the private benefits from opportunism. However, drawing on the multimarket competition literature, I maintain that market overlap between alliance partners can rather curb opportunism by partners because the multimarket co