Intellectual capital or signal? The effects of scientists on alliance formation in knowledge-intensive industries
Author: Luo, Xiaowei Rose ; Koput, Ken ; Powell, WilliamINSEAD Area: Entrepreneurship and Family EnterpriseIn: Research Policy, vol. 38, no. 8, October 2009 Language: EnglishDescription: p. 1313-1325.Type of document: INSEAD ArticleNote: Please ask us for this itemAbstract: Hiring employees with advanced education, training, and experience has been a prevalent human resource practice in dynamic science-based industries, and a growing body of literature has demonstrated the importance of scientists in such fields. Little research has attempted to distinguish the functional from the symbolic roles of scientists, however. We develop an integrative theoretical framework to separate the productive and legitimating effects of scientists on strategic alliance formation of firms. Results from a longitudinal analysis of more than 300 U.S. biotechnology firms between 1988 and 1999 suggest a positive relationship between ratio of scientists and RandD alliance partners as well as a positive relationship with finance alliance partners. Scientists influence partner attraction more strongly for firms that are less-well-connected, and they become less prominent in fostering finance ties as the industry practice of partnership becomes more institutionalized.We conclude that scientists serve more than just a research function in knowledge-intensive industries. Implications for building interorganizational networks and managing human resources in such industries are discussed.| Item type | Current location | Call number | Status | Date due | Barcode | Item holds |
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Hiring employees with advanced education, training, and experience has been a prevalent human resource practice in dynamic science-based industries, and a growing body of literature has demonstrated the importance of scientists in such fields. Little research has attempted to distinguish the functional from the symbolic roles of scientists, however. We develop an integrative theoretical framework to separate the productive and legitimating effects of scientists on strategic alliance formation of firms. Results from a longitudinal analysis of more than 300 U.S. biotechnology firms between 1988 and 1999 suggest a positive relationship between ratio of scientists and RandD alliance partners as well as a positive relationship with finance alliance partners. Scientists influence partner attraction more strongly for firms that are less-well-connected, and they become less prominent in fostering finance ties as the industry practice of partnership becomes more institutionalized.We conclude that scientists serve more than just a research function in knowledge-intensive industries. Implications for building interorganizational networks and managing human resources in such industries are discussed.
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