This paper argues that when the technological basis of an industry is changing, the firm's approach to technology sourcing plays a critical role in building the capabilities needed to generate new technical outputs. Using survey and archival data from the U.S. pharmaceutical industry during the period 1981-91, we find that different approaches to technology sourcing (internal R&D and external R&D) are related to different types of biotechnology-based output at the end of the period. Internal R&D was positively associated with patent output. Acquisition activity was positively related to number of biotechnology-based products. Greater use of R&D contracts and licenses was associated with stronger reputation for possessing expertise in biotechnology. These findings underscore the importance of taking a multifaceted approach to technology sourcing in order to build the absorptive capacity needed to generate new technical output. Surprisingly, we also found that involvement in joint ventures was negatively related to patent output. This raises interesting questions about the strategic use of joint ventures in a regime of encompassing technological change.

Asia and Latin America are significant emerging economies. While Asian management research has been comprehensively reviewed, the understanding of Latin America management research is fragmented. The authors address this gap by providing the first literature review of Latin America management research. Defining management research broadly (looking across the subfields of international business, strategy, entrepreneurship, organization behavior and human resources, and business ethics), this literature review responds to the call for management researchers to contextualize their research. The article begins by examining the contextual dimensions that make Latin America distinctive. The authors then review Latin America management research and position it within the larger body of emerging economy research. They conclude by presenting a framework and research agenda to guide future efforts at theory development in the Latin American context.

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