| As opposed to dyadic levels of analyses, portfolios are thought to exhibit synergies and different evolutionary paths that can be qualified as portfolio effects. In this dissertation, I investigate whether firms can use their portfolios of strategic alliances to achieve competitive advantage through knowledge creation. I organize the thesis into three main papers. In the first paper, I suggest that technological diversity at the portfolio level, influences knowledge creation by firms both directly through a firm's ability to access knowledge from its portfolio and indirectly, through some of its alliance partners acting as bridges to the knowledge possessed by others. Interestingly firms who possess nonoverlapping knowledge bases compared to their portfolio do better on patenting in the biotechnology industry. Contrary to expectations, having a wide non-overlapping technological base in the alliance portfolio does not help focal firms create new knowledge. I also find mixed evidence of synergistic effects (which I measure as strength of the bridging mechanisms). In the second paper, I hypothesize (and find) that international market intensity in the portfolio of strategic alliances allow firms to learn from new country environments and new markets and improves the NPD (New Product Development) process of the firms (once technological capability is controlled for). The third paper explores how convergence and divergence in the technological base of an alliance portfolio, affects the stability of the portfolio itself. Findings suggest that whilst convergence and divergence may happen simultaneously, but have no interactive effect on portfolio turnover. However, relative convergence leads to portfolio instability, confirming the competitive, and not cooperative nature of strategic alliances in this industry. |
