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Title: The process of value realization in asymmetric new venture development alliances: Governing the transition from exploration to exploitation
Authors: Faems, Dries ×
Van Looy, Bart
Janssens, Maddy
Vlaar, Paul W.L. #
Issue Date: 2012
Series Title: Journal of Engineering and Technology Management vol:29 issue:4 pages:508-527
Abstract: Based on a case study of three asymmetric new venture
development (ANVD) alliances, we examine the governance of
transitions from exploration to exploitation. We propose that role deficiencies, technological asymmetry, and the presence of a separate venture unit at established firms constitute important initial conditions influencing value realization in ANVD alliances. We further show that role-specific investments act as more appropriate mechanisms than contractual incentives to govern transitions from exploration to exploitation. Jointly, these findings
provide new insights into the impact of structural and relational governance mechanisms on value creation in interfirm relationships.
ISSN: 0923-4748
Publication status: published
KU Leuven publication type: IT
Appears in Collections:Research Centre for Organisation Studies, Leuven
Department of Managerial Economics, Strategy and Innovation (MSI), Leuven
× corresponding author
# (joint) last author

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