Research on industry lifecycles suggests that competitive pressures are more severe during the shakeout stage, which could be associated with the emergence of a dominant design, than at other stages. Transaction cost theory, on the other hand, assumes generally competitive markets and does not...

A recent stream of research in strategy has demonstrated the effect of boundary of the firm decisions on firm performance by integrating concepts and methods from organizational ecology with predictions from transaction cost economics (e.g. Silverman et al., 1997; Bigelow, 1999; Nickerson & Silverman, 2003;...

What is the effect of a formative experience on organizational performance? We use data from 207 corporations who made corporate venture capital investments in the period 1998-2001 to explore the effects of a crucial early experience on subsequent firm conduct. Our results reveal that firms...

A growing literature examines the formation of strategic alliances as an important value-added role provided by venture capital firms. This paper contributes to this literature by examining two related questions: whether venture capital firms use strategic alliances as a substitute or compliment...