Cooperative wealth creation: Strategic alliances in Israeli medical-technology ventures
研究以色列医疗技术初创企业采用合作战略（战略联盟）的效果，发现总体上有联盟的企业表现略逊于无联盟企业，但不同类型联盟（研发、生产、营销）与不同合作伙伴（本地或外国）的效果存在差异。
During the last three decades, Israel has shown dramatic growth in technological startups, which may be attributed to its human-resource base and its physical-structure support for high-tech entrepreneurial activity. Medical technology was targeted by Israeli firms because it was perceived to be attractive and global. Nevertheless, to acquire access to complementary technologies, to amass sufficient capital and marketing resources, and to compensate for market-knowledge shortcomings, many of the firms adopted cooperative strategies. Our findings show that, overall firms that have undertaken alliances marginally underperformed those that have not, suggesting that the benefits of alliances are counterweighed by their drawbacks. R&D alliances with a foreign firm outperformed alliances with a local partner; in contrast, production alliances involving another Israeli firm outperformed alliances with a foreign firm, except for cost. Foreign-partner alliances in marketing were superior to local alliances, but did not enhance survivability. Implications for strategic-alliance formation are discussed.