The double-sided influence of IP litigation reputation on R&D collaboration
基于信号理论，研究企业知识产权诉讼声誉如何影响新合作关系的形成，发现其既能因攻击性信号阻碍合作，也能因保护高质量资源而吸引合作，且与研发合作经验存在替代关系。
We draw on signaling theory to argue that a tough reputation based on IP litigation can be either detrimental or instrumental to the formation of new collaborative ties. Under conditions of information asymmetry, potential partner firms rely on observable signals to assess partner firms' attractiveness. While IP litigation reputation signals aggressiveness and may deter new partners from collaboration, it also signals the presence of a focal firm's high-quality resources that it seeks to protect. In the absence of information on a focal firm's prior R&D collaboration, the latter dominates. The substitutive relationship between IP litigation and prior R&D collaboration in their influence on the formation of new collaborative ties depends on the nature of information asymmetry. It is stronger if new collaborations are with rival firms competing in the same market than if they are with non-rival partners. We find support for these hypotheses using a fixed-effects multi-equation model of new partner collaborations with rivals and non-rivals in the pharmaceutical industry, 1995–2015. • A firm's tough IP litigation reputation can either attract or deter new collaboration partners. • This reputation signals potential aggressiveness but also the possession of valuable resources to protect. • In the absence of prior R&D collaboration experience, the positive signal of resource quality dominates. • The effect of IP litigation reputation on collaboration is stronger when partnering with rivals than with non-rivals. • Reputation and prior collaboration experience function as substitutes in forming new partnerships.