NPD Alliance Announcement's Asymmetrical Influence On Enterprise's Performance

With the development of global innovation economy and improvement of information network,the competition within the market is becoming increasingly fierce.A growing number of enterprises begin to realize that the integration of resources within the enterprise business unit fail to meet the demand of rapid changing market.Therefore,the enterprises start to alliance with others to obtain complementary resources,decrease risk,improve the efficiency of NPD program and create new market opportunities.NPD alliance has become an important innovation way in cooperation.The researchers find many NPD alliances are asymmetrical,in which the alliance lying between a large-scaled mature one and a small-scaled innovative one.This paper studied 227 NPD alliance announcements released by public-listed enterprises in China in the last 10 years,weighing and examining related key influence factors and models that affecting entrepreneurial performance and symmetry.With the research methods of event study and regression analysis,this paper embedded in the influence mechanism of NPD alliance on entrepreneurial performance.Additionally,by comparing two different models,author attempted to discuss the symmetry within the influence factors.The empirical study indicated that:(1)In a "asymmetrical" NPD alliance,the heterogeneity between alliance members and the type of alliance have balanced influence on enterprises with different scales;(2)Mature enterprises benefit from alliance partner's innovative ability,and innovative enterprises are more profitable from alliance partner's reputation;(3)The impact of former entrepreneurial alliance experience enhanced the influence of other factors,improving enterprises' alliance performance indirectly.In a nutshell,the results of this paper have certain value in the theory and practice field.