relational Risks Perception in European Biotechnology Alliances : the effect of contextual factors
By: DELERUE, Hélène
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ArticlePublisher: Oxford : Elsevier, October 2004European Management Journal 22, 5, p. 546-556Abstract: Strategic alliances are characterized by inherent instability arising from uncertainty regarding a partner's future behavior and the absence of a higher authority to ensure complilance. Consequently, when firms adopt these atrategies, they are confronted with a relational risk. This paper adoptsa multidimensional view of relational risk. Generally, perception of risk depends on several factors; some of them are situational and contextual. This study links managers' risk relational perception in alliance relationships with three situational factors: the degree of relational capital, the structure of the relationship and the degree of asymmetries between partners. The hypotheses were tested with survey data on partnership of European Biotechnology firms. The results suggest that relational risk perception is more influenced by informal contextual factors
Strategic alliances are characterized by inherent instability arising from uncertainty regarding a partner's future behavior and the absence of a higher authority to ensure complilance. Consequently, when firms adopt these atrategies, they are confronted with a relational risk. This paper adoptsa multidimensional view of relational risk. Generally, perception of risk depends on several factors; some of them are situational and contextual. This study links managers' risk relational perception in alliance relationships with three situational factors: the degree of relational capital, the structure of the relationship and the degree of asymmetries between partners. The hypotheses were tested with survey data on partnership of European Biotechnology firms. The results suggest that relational risk perception is more influenced by informal contextual factors
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