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The effect of board human capital on the performance of technical alliance investments.

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Title: The effect of board human capital on the performance of technical alliance investments.
Authors: Chen, Li‐Yu1 lychen@scu.edu.tw, Lai, Jung‐Ho2 julialai@ntub.edu.tw
Source: R&D Management. Mar2017, Vol. 47 Issue 2, p265-276. 12p.
Subjects: Human capital, Strategic alliances (Business), Boards of directors, University research, Business enterprises
Abstract: Despite boards of directors' prominent involvement in strategic alliance (SA) decisions in practice and reports from news media, there is relatively little academic research exploring the board's value for a firm's technical SA investments involving a technical transfer or R&D, which are characterized by a high level of uncertainty, information asymmetry, and extreme complexity. Anchored in the resource dependence theory, this study aims to address this important issue by examining how board of directors contribute their human capital, in the form of relevant strategic experience, may mitigate the core challenges managers face when pursuing technical SAs and thereby influencing their outcomes. Our empirical results show that when outside directors hold more extensive alliance experience, they can better execute their consulting function and improve the firm's technical alliance performance. In addition, directors with experience specifically related to technical alliances also have a positive effect on performance. Last, we find that the impact of alliance experience on technical alliance performance is positively moderated by the size of directors' prior affiliated companies and their share ownership in the focal firm. [ABSTRACT FROM AUTHOR]
Copyright of R&D Management is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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  Data: The effect of board human capital on the performance of technical alliance investments.
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  Data: <searchLink fieldCode="JN" term="%22R%26D+Management%22">R&D Management</searchLink>. Mar2017, Vol. 47 Issue 2, p265-276. 12p.
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  Data: <searchLink fieldCode="DE" term="%22Human+capital%22">Human capital</searchLink><br /><searchLink fieldCode="DE" term="%22Strategic+alliances+%28Business%29%22">Strategic alliances (Business)</searchLink><br /><searchLink fieldCode="DE" term="%22Boards+of+directors%22">Boards of directors</searchLink><br /><searchLink fieldCode="DE" term="%22University+research%22">University research</searchLink><br /><searchLink fieldCode="DE" term="%22Business+enterprises%22">Business enterprises</searchLink>
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  Data: Despite boards of directors' prominent involvement in strategic alliance (SA) decisions in practice and reports from news media, there is relatively little academic research exploring the board's value for a firm's technical SA investments involving a technical transfer or R&D, which are characterized by a high level of uncertainty, information asymmetry, and extreme complexity. Anchored in the resource dependence theory, this study aims to address this important issue by examining how board of directors contribute their human capital, in the form of relevant strategic experience, may mitigate the core challenges managers face when pursuing technical SAs and thereby influencing their outcomes. Our empirical results show that when outside directors hold more extensive alliance experience, they can better execute their consulting function and improve the firm's technical alliance performance. In addition, directors with experience specifically related to technical alliances also have a positive effect on performance. Last, we find that the impact of alliance experience on technical alliance performance is positively moderated by the size of directors' prior affiliated companies and their share ownership in the focal firm. [ABSTRACT FROM AUTHOR]
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  Data: <i>Copyright of R&D Management is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
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      – SubjectFull: Strategic alliances (Business)
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      – SubjectFull: Boards of directors
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