Competence Perspectives: Discussing Organisational Choices in the Scottish Biotechnology Cluster

....................................................................................................................3 1.1 Introductory Notes ...............................................................................................3 1.2 TCE and the CP ..................................................................................................4 1.2.1 Difference and Similarities............................................................................5 1.2.2 Working towards a Theoretical Synthesis.....................................................6 1.2.3 The Theoretical Nexus between TCE and the CP: Final Considerations ......7 1.3 The Model ...........................................................................................................8 1.3.1 On the Circumstances Surrounding Organisational Choices ...................... 10 1.3.1.1 Transaction Characteristics: on the “Hold-up” Problem............................ 11 1.3.1.2 Asset Characteristics: Replaceability....................................................... 12 1.3.1.3 Asset Characteristics: the Complexity and Tacitness of Knowledge ....... 12 1.3.1.4 Asset Characteristics: The Strategic Importance of Core Competences.. 13 1.3.1.5 Environment Characteristics: External Uncertainty .................................. 14 1.3.1.6 Environment Characteristics: the Degree of Legal Protection ................ 14 1.4 Data Collection and Econometric Analysis ........................................................ 15 1.5 Results .............................................................................................................. 16 1.5.1 Asset and Environment Characteristics and the Preference for Collaborative Agreements......................................................................................................... 16 1.5.2 The Characteristics of the Transaction and the Preference for Collaborative Agreements......................................................................................................... 17 1.6 Conclusions....................................................................................................... 19 Table 1. Multinomial Logit Model ................................................................................ 20 Table 2. Binomial logit model: Markets = 0 Vs Collaborative Agreements = 1............. 21 Table 3. Binomial logit Model: Collaborative Agreements =0 Vs Integrated Structures =1...... 21 References ................................................................................................................. 22 INNOGEN Working Paper 15 September 2004 Alessandro Rosiello 3 At the Interfaces of Governance and Competence Perspectives: Discussing Organisational Choices in the Scottish Biotechnology Cluster