摘要
实践证明,R＆D联盟的收益大于联盟的成本并不一定就是R＆D联盟的最佳时机,但现有的解释联盟形成的理论却没有对此给予足够的重视。基于实物期权理论,本文构建了两种包含多期权组合的联盟时机选择模型,并采用Log变换二叉树模型求解其最优时机。该模型将不确定性因素,吸收能力,独立研发的机会成本引入联盟时机的决策机制。在此基础上,本文考察了外界市场环境、企业自身的学习能力、独立研发的能力等因素对联盟时机的影响。
Practice shows that the payoff of R&D alliance is greater than the cost of alliance is not always the optimal timing of R&D alliance,but the existed theories which explain alliance forming don't pay enough attention to this point.Based on real option theory,this paper constructs two alliance timing selection models that include multi-option combination, and takes advantage of Log-transformed binomial tree model to find the optimal alliance timing.These models import uncertainty factors,absorptive capacity and opportunity cost of independent R&D to alliance timing decision mechanism, and discuss the influence of some factors such as market environment, study and independent R&D capacity of enterprise on the alliance timing.
出处
《管理工程学报》
CSSCI
2005年第2期18-22,共5页
Journal of Industrial Engineering and Engineering Management
关键词
R&D联盟时机
多期权
吸收能力
R&D alliance timing
multi-option
absorptive capacity
