In this study, we examine strategic alliances between large pharmaceutical companies (LPCs) and new biotechnology firms (NBFs) in the knowledge-intensive biopharmaceutical industry in the light of two explanations for the motives behind R&D alliances, namely, the transaction cost explanation and the learning with flexibility explanation. We develop a series of propositions based on an integrated view of the motives behind strategic alliances in knowledge-based industries.

The proliferation of electric vehicles (EVs) globally is remarkable progress in strides toward a low carbon society. However, the volume of end-of-life EV batteries will hit a critical mass in the future. Widespread adoption of EV battery remanufacturing is essential in achieving higher resource efficiency. The current study investigated Chinese EV owners’ perceptions of remanufactured EV batteries: 420 respondents in China who own and drive EVs participated in the survey. This study modeled respondents’ acceptance, purchase intention, and willingness-to-pay for remanufactured EV batteries by adapting the structural equation model (SEM). The results showed that consumers’ price consciousness and perceived benefits both directly influence their purchase intention of remanufactured batteries. Unlike previous studies, this study found that consumers’ perceived risks on remanufactured batteries do not directly influence their purchase intention. Instead, the influence of perceived risks on purchasing behavior is mediated by perceived benefits. The study also found that purchase intention affects willingness to pay and acceptance of remanufactured batteries. Drawing on our study results, this research suggests measures to promote markets for remanufactured EV batteries and provides corporate marketing options to accelerate proliferation of remanufactured batteries.

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The most commonly asked question in the research of innovation is: what type of firms can innovate more productively, startups or established firms? A related question is: does the nature of innovation affect the comparative advantages of startups versus established firms? This paper reviews the literature on the locus of innovation from multiple perspectives, including explanations based on organizational capabilities, incentives and agency costs, transaction cost economics, and property rights theory. It seeks to provide an integrative view of the comparative advantages of startups versus established firms when handling innovation. Prior research on the locus of innovation has significant implications not only for the theory of innovation, but also for the theory of the firm. Most notably, integration is primarily motivated by coordination benefits and improved incentives for investment in non-human assets (Williamson, 1985; Grossman & Hart, 1986; and Hart & Moore, 1990). However, integration suffers from weaker incentives to invest in human assets (Holmstrom, 1989).