Searching for Alliance Partners: Effects of Geographic Distance on the Formation of R&D Collaborations
研究地理距离如何影响企业间研发合作的形成，发现即使在同一集群内，距离越远合作可能性越低，但先前联系、相同产品市场或相似技术知识会减弱这种效应。
We investigate how geographic distance influences which firms engage each other in research and development (R&D) collaborations. Given advances in technology, geographic distance might not be expected to affect who partners with whom, yet recent research has reported on the localization of exchanges in numerous market settings. We identify factors that shape the degree to which geographic distance matters to alliance formation by considering the heterogeneity in adverse selection risk across exchange partners. Specifically, we argue that the effects of geographic distance depend on the extent to which partners are able to evaluate each others’ resources and prospects. Empirical evidence from R&D collaborations in the semiconductor industry indicates that the likelihood of alliance formation is negatively related to geographic distance, even within clusters. The extent to which alliance formation falls off with geographic distance is diminished when the firms have prior ties, operate in the same product market, or possess similar technological knowledge.