Relational governance, communication and the performance of biotechnology partnerships

Purpose – Emerging biotechnology firms rely on a network of socio‐economic partnerships that can be classified as “interimistic” or close, collaborative but relatively short‐lived. Few studies have assessed the importance of relational governance to the performance of these partnerships. The purposes of this research were to determine the effect of relational governance on the performance of financial partnerships and to compare biotechnology manager assessments of their financial and non‐financial partnerships.Design/methodology/approach – Interviews were conducted with managers of emerging biotechnology companies and lead investors in Canada, France and Germany. Relational governance was assessed by relational norms such as flexibility, information sharing, solidarity and fairness. Performance was assessed by overall effectiveness and partnership benefits. First, the contribution of relational governance to partnership effectiveness and benefits was examined. Second, for the financial partnerships, the ...