How do airlines preferences about engines influence the competition in the commercial aircraft industry: an empirical analysis

This paper examines the competitive context in the commercial aircraft industry. In particular, the aim of the research here presented is to understand what are the main drivers influencing the choice of a specific engine manufacturer in an aircraft, and how such preferences influence the competition between Airbus and Boeing. In order to do that, we have collected data about the fleet composition of the top 25 airlines and we have located the main drivers influencing the engine configuration in: route specialization, business model and maintenance policy. Implications of such empirical findings in the competition among aircraft manufacturers are finally discussed

Drivers influencing the governance of inter-firm relationships in the biopharmaceutical industry: an empirical survey in the Italian context

This paper focuses on factors influencing the choice of the governance form in inter-firm relationships (IFRs) between pharmaceutical and biotechnology companies. By reviewing the relevant literature on transaction cost economics, property right theory, real option and resources-based view, we located some drivers that might influence such relationships and we formulated a set of hypotheses linking them to governance forms. Such a theoretical framework has been empirically tested through a survey conducted among the Italian companies associated to Farmindustria. Empirical results provide some interesting insights on how shaping bio-pharmaceutical deals; we found that the developmental stage of the product/technology object of the agreement, the existence of previous collaborations between firms and the number of products marketed by the biotech company are able to influence the selection of a specific governance for

How risk influences the choice of governance mode in biopharmaceutical inter-firm relationships

This paper proposes a new theoretical framework for assessing the influence of risk in shaping the governance form in biopharmaceutical inter-firm relationships. In particular, we propose a multidimensional operationalization of relational and performance risk and, by following Transaction Cost Economics (TCE) and Real Options (RO) theory constructs, we hypothesize a relation between the aforementioned risk components and the choice of governance form. Specifically, following TCE reasoning, we hypothesize that a high level of relational risk leads towards more hierarchical governance forms, while, following RO theory, we hypothesize that a high level of performance risk leads toward market-oriented governance forms; finally, we hypothesize a moderating effect of each risk component on the other. We empirically test our framework through the analysis of 353 inter-firm relationships signed worldwide between pharmaceutical and biotech companies from 2007 to 2010. The results show substantive support for our theoretical framework. Furthermore, we find a significant moderating effect of the performance risk on the TCE relation between relational risk and governance forms

How risk influences the choice of governance mode in biopharmaceutical inter-firm relationships

This paper proposes a new theoretical framework for assessing the influence of risk in shaping the governance form in biopharmaceutical inter-firm relationships. In particular, we propose a multidimensional operationalization of relational and performance risk and, by following Transaction Cost Economics (TCE) and Real Options (RO) theory constructs, we hypothesize a relation between the aforementioned risk components and the choice of governance form. Specifically, following TCE reasoning, we hypothesize that a high level of relational risk leads towards more hierarchical governance forms, while, following RO theory, we hypothesize that a high level of performance risk leads toward market-oriented governance forms; finally, we hypothesize a moderating effect of each risk component on the other. We empirically test our framework through the analysis of 353 inter-firm relationships signed worldwide between pharmaceutical and biotech companies from 2007 to 2010. The results show substantive support for our theoretical framework. Furthermore, we find a significant moderating effect of the performance risk on the TCE relation between relational risk and governance forms

How do airlines preferences about engines influence the competition in the commercial aircraft industry: an empirical analysis

Abstract This paper examines the competitive context in the commercial aircraft industry. In particular, the aim of the research here presented is to understand what are the main drivers influencing the choice of a specific engine manufacturer in an aircraft, and how such preferences influence the competition between Airbus and Boeing. In order to do that, we have collected data about the fleet composition of the top 25 airlines and we have located the main drivers influencing the engine configuration in: route specialization, business model and maintenance policy. Implications of such empirical findings in the competition among aircraft manufacturers are finally discussed. Keywords Commercial aircraft industry, airlines fleet composition, engine configuration Overview of the commercial aircraft industry and research motivation Over the last couple of decades, the literature on the aircraft manufacturing industry, particularly on the competition between Airbus and Boeing, has received important contributions. Many authors reviewed the stages of the competition between the colossals Airbus and Boeing, such as Campo

Capital structure decisions in the biotechnology industry: the role of R&D collaborations with pharmaceutical incumbents

This study focuses on the importance of collaborative R&D attitudes of biotech firms in the capital structure determination. Specifically, we investigate the short term impact of R&D agreements on financial leverage and we analyze whether this relationship depends on alliances’ features and the type and characteristics of the partners involved. Our results suggest that agreements with established pharmaceutical incumbents are followed by a reduction in the level of debt, while collaborations with biotech firms do not play a significant role, at least in the short term. However, different explanations are plausible. Our findings could be consistent with an “extension” of the pecking order theory that takes into account the role of financial resources coming from partners. Alternatively, they could be in line with previous works that stressed the importance of financial slack in innovative environments or with papers that discussed the impact of the relationships with customers and suppliers in capital structure decisions

Strategic drivers influencing the governance of inter-firm relationships between biotechnology and pharmaceutical companies: an empirical survey

This paper investigates the drivers influencing the choice of the governance form in inter-firm relationships (IFRs) between pharmaceutical and biotech companies. By analyzing the relevant literature on the issue, we have located the main drivers that might influence such relationship and a set of hypotheses linking them to governance forms. Such theoretical framework has been empirically tested through a survey conducted among the companies associated to Farmindustria. The result of the empirical analysis provides some interesting insights on how shaping bio-pharmaceutical deals; we found that the developmental stage of the product object of the deal, the existence of previous collaborations between firms and the number of products marketed by the biotech company are able to affect the choice of the governance form