Performance implications of strategic restructuring through knowledge acquisition : longitudinal analysis of German biotechnology firms

Zock, Florian

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URL:	https://madoc.bib.uni-mannheim.de/32598
URN:	urn:nbn:de:bsz:180-madoc-325980
Document Type:	Doctoral dissertation
Year of publication:	2012
Place of publication:	Mannheim
University:	Universität Mannheim
Evaluator:	Lichtenthaler, Ulrich
Date of oral examination:	30 October 2012
Publication language:	English
Institution:	Business School > Strategisches u. Internat. Management (Al-Laham 2009-2011)
Subject:	330 Economics 650 Management
Subject headings (SWD):	Strategie
Keywords (English):	Restructuring , Strategy , Knowledge-Based View , Alliances & Networks , Business Model , Dynamic Capabilities
Abstract:	This dissertation examines how firms can strategically restructure 1) through engaging in alliances, alliance portfolios, and networks; 2) through business model design; and 3) through developing dynamic capabilities to improve their strategic performance in terms of innovation, vertical integration, and survival. Empirical evidence is derived from a longitudinal analysis of the entire population of the German biotechnology industry between 1996 and 2009. In order to answer that overall research question, I have conducted three individual research studies. The first research paper aims to explain how alliance portfolio configurations and alliance portfolio capabilities impact new venture innovation performance. I am able to show that for new ventures homogeneous alliance portfolio configurations enhance innovation. Also, I find that portfolio capabilities per se do not certainly assist new ventures in enhancing innovation, as increasing portfolio capabilities also increase complexity. Furthermore, I surprisingly do not find an interaction effect between configuration and capabilities on innovativeness. Thus, I can emphasize the importance of alliance portfolio configurations and capabilities per se. The second research paper examines how multi-level network partner configurations and absorptive capacity influence the expansion of vertical integration. I am able to show that the expansion of vertical integration is a firm’s purposeful strategy to access knowledge in the light of unfavorable multi-level network partner configurations. In fact, I find that ego-network partners’ international diversity and regional network partners’ research munificence negatively affects the expansion of vertical integration. In addition, I show the significance of absorptive capacity per se and as moderating effect for the expansion of vertical integration. The third research paper aims to explain how business model design and internationalization impact new ventures’ competing exit strategies. I am able to show that knowledge stocks acquired through organizational learning triggered by business model design and internationalization affect new ventures’ decision over whether to dissolve a business or sell it off to another company.