Strategic motives that firms engage in cooperative R&D : a new explanation from four theoretical perspectives

Previous research has identified many benefits from strategic alliances. This article provides a new explanation for the motives that lead firms to undertake cooperative research and development (R&D), arising from four relevant theories: Transaction Cost Theory, Risk Theory, Learning Organization Theory, and Strategic Management Theory. Accordingly, four types of motives are for the first time categorized: cost sharing related motives, risk sharing related motives, skill sharing related motives, and market power related motives. An analysis of 199 useful questionnaire responses from participants working in the Chinese Aluminum Industry indicates that our method for grouping the strategic motives in terms of the four theories is valid and reliable.