Forming networks of inter-organizational cooperation is vital to firms. Network position and connectedness (the count of interfirm cooperative ties) is correlated with, for example, firms’ longevity, profitability, and innovativeness (Ahuja, 2000). Being well connected is a kind of resource. Consistent with the resource-based view, a high quantity and quality of interfirm relations can be viewed as a source of sustainable competitive advantage (Kay, 1993). Given the importance of cooperative networks, research has turned to the underlying question of how and why networks change. The study of network evolution is prominent (Checkley et al., 2010; Koka et al., 2006). To better understand how cooperative interfirm networks evolve, this article addresses two interrelated objectives. What drives the selection of firms’ network partners over time? What network changes, if any, explain firms’ performance outcomes? These issues are viewed in the context of venture capital firms, and their syndication activity, over time.
Angwin, DCheckley, MEndersby, RSteglich, C
Faculty of Business
Year of publication: 2014Date of RADAR deposit: 2017-02-08