Alliance portfolios and firm performance: the moderating role of firms’ strategic positioning

Abstract

PurposeThe purpose of this paper is to fill the theoretical void in the discussion of effects of alliance portfolios on firm performance by studying the moderating role of a firm’s strategic positioning.Design/methodology/approachA fixed effects, autoregressive panel model on a comprehensive, longitudinal sample of large and medium-sized publicly traded companies in the USA.FindingsThe effect of alliance portfolios on firm performance is conditional on the firm’s strategic positioning.Research limitations/implicationsThe results may not be applicable to firms outside the USA or small firms.Practical implicationsExecutives should craft their alliance portfolios while considering the strategic positioning of their firms.Originality/valueThis paper presents the first study of alliance portfolios that uses a comprehensive, multi-industry sample while considering firms’ strategic positioning. The paper is the first to jointly study characteristics of alliance portfolios and firm strategies.