R&D Project Selection Of Industry-University-Research Technical Alliance In Different Governance Structures

With the globalization of economy and science&technology to speed up, technology innovation has become the motivation and source of enterprise developing and competitiveness improving. Enterprises are gradually realizing that it cannot keep competitive advantage with their own forces, for some certain important resources which cannot get directly through the market trading must be explored in the global technology resources for cooperation. Technology innovation power and common development with universities and research institutes becomes important means for enterprises to achieve their strategic goals, so industry-university-research cooperation has been a common trend in the enterprises.Industry-university-research technical alliance need coordination, governance and incentives for their continuous development from imperfect to perfect, from junior to senior. Through the reasonable effective multi-objective coordination and governance mechanism, alliance parties will input resources with great enthusiasm to make R&D cooperation glow forward to keep industry-university-research technical alliance’s flourishing vigor.The key role of alliance governor is to choose R&D project. After industry-university-research technical alliance found successfully based on common strategic tendency, the governor takes R&D project for center to form harmonious and governance mechanism. R&D project selection, the interruption in the process of transforming research achievements, is the premise condition of successful cooperation. Industry-university-research technical alliance makes interruption connect again and gets through science&technology and economy. Alliance members are two-way choice on R&D project selection, so the governor should guarantee capital input, monitor capital use, and lead interest distribution and other operation mechanisms to unite technology innovation of Enterprise and scientific innovation of University.Based on Transaction Cost Theory, Incentive Compatibility Theory and Relationship Contract Theory, the paper uses Hoteling Model to analyze R&D project selection of industry-university-research technical alliance under different governance structures. Firstly, the paper makes clear the concepts of industry-university-research technical alliance and alliance governance structure; then it discusses the governance necessity of industry-university-research technical alliance and the governance mechanism under different governance structures; moreover, Hoteling Model is used for comparison analysis on R&D project selection under different governance structures, and to further perfect the theoretical model considering the third party; finally, it shows the effectiveness and maneuverability of the theoretical model through case, study, and then puts forward policy suggestions.