Business and Technology Strategies and New Venture Performance: A Study of the Telecommunications Equipment Industry
基于52家电信设备行业新创企业的IPO数据，检验了竞争与合作商业战略及技术战略对绩效的影响，发现宽泛成本领先战略和创新投资与更高绩效相关。
In this paper, a set of hypotheses relating competitive and cooperative business strategies and technology strategies to new venture performance are developed. These hypotheses are tested using data collected from the Initial Public Offering (IPO) documents of a sample of 52 new ventures in the telecommunications equipment industry. This industry has experienced a great deal of technological change as computer and telephone technologies have merged allowing a variety of new ventures to successfully enter the industry. The results suggest that new ventures pursuing broad cost leadership strategies were more successful. Investments in innovation in terms of relative R&D expenditures were also related to higher performance. Finally, significant interaction effects between investments in innovation and competitive strategies and performance were found.