Behind the Scenes: Sources of Complementarity in R&D

We thank Rajshree Agarwal, Kazuhiro Asakawa, Dan Breznitz, Annamaria Conti, Ronnie Chatterji, Chris Forman, Alfonso Gambardella, John Haltiwanger, Magnus Holmén, Keld Laursen, Anne Miner, Alex Oettl, Maija Renko, Daniel Spulber, Marie and Jerry Thursby, Arvids Ziedonis, seminar participants at Georgia Tech, the 2011 CCC doctoral consortium at MIT, the 2011 Academy of Management meeting, the 2011 DRUID conference, the 2012 Trans-Atlantic Doctoral Conference at the London Business School for helpful comments and suggestions. We are indebted to Deloitte ReCap for access to their data. We also thank Alexandra Kondo and IMS Health Incorporated for their generous support and access to their data. The statements, findings, conclusions, views, and opinions contained and expressed herein are not necessarily those of IMS Health Incorporated, any of its affiliated or subsidiary entities, or the National Bureau of Economic Research. The statements, findings, conclusions, views, and opinions contained and expressed in this article are based in part on data obtained under license from the following IMS Health Incorporated or affiliate information service(s): IMS MIDAS™, June 1997 to December 2008, IMSA Health Incorporated or its affiliates. Higgins acknowledges support from The Imlay Professorship. Ceccagnoli acknowledges funding from the Kauffman Foundation--Roadmap for an Entrepreneurial Economy. Palermo acknowledges funding from the Kauffman Dissertation Program Fellowship. Authors are listed alphabetically and the usual disclaimers apply.