While strategy theory relies heavily on equilibrium theories of economic rents such as Ricardian and monopoly rents, we do not yet have a comprehensive theory of disequilibrium or entrepreneurial rents. We use cooperative game theory to structure computer simulations of the market process in...

The market for acquisitions has been a blind spot in exploration-exploitation research in the new venture context. The introduction of the acquisition exit outcome as a performance dimension for new ventures, especially among high-tech ventures, shifts the traditional temporal logic of...

The effect of uncertainty on governance choice remains a puzzle. In this paper we investigate the influence of behavioral uncertainty and ambiguity as determinants of alliance governance choice. We argue that different governance forms address different uncertainty problems: behavioral...

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...

In this article, we discuss the evolution of trust, distrust, and formal coordination and control in interorganizational relationships. We suggest that the degrees to which managers trust and distrust their partners during initial stages of cooperation leave strong imprints on the development of...

Research into the management of interorganizational relationships has hitherto primarily focused on problems of coordination, control and to a lesser extent, legitimacy. In this article, we assert that partners cooperating in such relationships are also confronted with lsquo;problems of...