There is an exten.sive body of literature that has e.xamined technology investment, while
little attempt has heen undertaken to examine the relationship between technology
investment and strategic alliance. This study attempts to fill the gap. The paper herein
extends Grenadier and Weiss's (1997) real option framework to study how Taiwan's
DRAM firms take advantage of strategic alliances to decide their optimal investment
behavior when they face a series of technology innovations. According to a simulation
with real data, we find that when firms can acquire technologies by means of strategic
alliances, they will adopt only a compulsive or buy-and-hold strategy when the expected
arrival time of new technology is between I and 1.5 years.
關聯:
International Journal of Management, 23(1), 195-200
