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Corporate collaborative activity: exploratory evidence on the determinants of vehicle choice

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  • Bruce Burton

Abstract

This exploratory study analyses the factors that affect the selection of a contract, alliance or joint venture for collaborative activity. The findings, based on a sample of 441 announcements made by UK firms, reveal that although no unequivocal support exists for either the agency- or transaction cost economics-based explanations of vehicle choice, the decision does appear to have a strategic element. In addition, the results suggest that while the three forms of inter-firm arrangement are often viewed as points on a continuum, the key decision relates to whether or not to establish a joint venture. In the light of these initial findings, future research might most usefully investigate decision-making of this type on a case-by-case basis, rather than attempting to induce pervasive explanations of the process.

Suggested Citation

  • Bruce Burton, 2010. "Corporate collaborative activity: exploratory evidence on the determinants of vehicle choice," The European Journal of Finance, Taylor & Francis Journals, vol. 16(3), pages 201-225.
    • Handle: RePEc:taf:eurjfi:v:16:y:2010:i:3:p:201-225
    DOI: 10.1080/13518470902872350
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    References listed on IDEAS

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    1. Michael S. Long & Ileen B. Malitz, 1983. "Investment Patterns and Financial Leverage," NBER Working Papers 1145, National Bureau of Economic Research, Inc.
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