Strategic alliances influence on small and medium firm performance

This study examines whether the new ventures success of small and medium enterprises (SMEs) in the biotech industry relates with the characteristics of strategic alliances. The study advances a research conceptual framework. Using sampling data gathered from 189 Taiwan biotech firms through a benchmarking questionnaire, the study tests six hypotheses employing structural equations. The findings are generally consistent with the literature. The study supports all hypotheses. Consequently, the results show that strategic alliances improve SMEs' new venture success. This research provides managerial implications for both entrepreneurs and managers and some suggestions for future research. (c) 2007 Elsevier Inc. All rights reserved.