Adaptive aspirations: Performance consequences of risk preferences at extremes and alternative reference groups

  • Hu S
  • Blettner D
  • Bettis R
  • 160


    Mendeley users who have this article in their library.
  • 44


    Citations of this article.


Like governance structure and alliance scope, partner selection may serve to safeguard firms’ intellectual assets in R&D alliances. We categorize potential alliance partners into friends, acquaintances, and strangers, depending on their previous alliance experience. Data on 1,159 R&D alliances indicate that the more radical an alliance’s innovation goals, the more likely it is that partners are friends rather than strangers. However, strangers are preferred to acquaintances, suggesting partner selection preferences are not transitive. Moreover, results suggest that firms use partner selection, governance structure, and alliance scope as substitute mechanisms to protect valuable technological assets from appropriation in R&D alliances.

Author-supplied keywords

  • adaptive aspirations
  • psychological foundations of strategy
  • reference group strategies
  • risk preference function
  • risk taking at extremes

Get free article suggestions today

Mendeley saves you time finding and organizing research

Sign up here
Already have an account ?Sign in

Find this document


  • Songcui Hu

  • Daniela Blettner

  • Richard A. Bettis

Cite this document

Choose a citation style from the tabs below

Save time finding and organizing research with Mendeley

Sign up for free