Purpose: This paper aims to examine whether balancing exploration and exploitation rather than emphasizing one over the other leads to better performance. This study also examines the effects of different kinds of external collaboration on a firm’s performance in relation to the firm’s...

Previous research on the market for technology has focused mostly on the supply side rather than the demand side of the market. Drawing on the behavioral theory of the firm, this study suggests search derived from performance below aspiration level as one of the determinants of the demand side...