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This paper develops a theoretical framework for an explanation of how exploitation and exploration build on each other, in a ‘cycle of discovery’, developed in earlier research. The framework is tested empirically, in the sense of seeing whether it can help to reconstruct and understand the emergence of the pharmaceutical industry. One of the conclusions is that whereas recent literature stresses...
This paper analyses a large, longitudinal database on inter-firm R&D partnerships formed in the high-tech pharmaceutical biotechnology industry since 1975. Our research indicates an overall growth in the number of annually, newly established R&D partnerships where research partners consistently prefer contractual partnerships to equity-based alliances. In the networks that develop through...
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