Abstract
This study investigates the impact of firm-specific (i.e., alliance orientation and partner selection criteria) and relationship-specific (i.e., strategic fit, cultural fit, and organizational fit) factors on alliance performance and assesses the mediating role of trust in the relationship between relationship-specific factors and alliance performance. Partial least squares analysis is applied to a data set of 106 strategic alliances, including both equity alliances (joint ventures) and non-equity alliances (contractual alliances). The empirical results reveal that alliance orientation and strategic fit lead to superior alliance performance and that cultural fit is positively related to partner trustworthiness. The results have managerial implications regarding how to maximize the positive outcomes of an alliance.
Highlights
Strategic alliances have emerged as a popular strategy, and they are increasingly being utilized in various forms by organizations
Previous research on strategic alliances has focused on partner selection issues, on the role of specific traits or characteristics that may be important in partner selection (Das & Teng, 1998a; Hitt, Dacin, Levitas, Arregle & Borza, 2000)
The results of this study showed that cultural fit is positively related to partner trustworthiness; cultural fit should be ensured in an alliance to foster the development of mutual trust
Summary
Strategic alliances have emerged as a popular strategy, and they are increasingly being utilized in various forms by organizations. Much work has focused on strategic alliances in the past three decades, giving rise to several theoretical frameworks and empirical studies, such as transaction cost theory (Kogut, 1988; Williamson, 1985), the industrial organization model (Hagedoorn, 1993), game theory (Parkhe, 1993), knowledge building and organizational learning (Kogut & Zander, 1992; Nonaka, 1991), the network perspective (Auster, 1990) and the resource-based view of the firm (Barney, 1991; Das & Teng, 1998b; Eisenhardt & Schoonhoven, 1996; Lin, Young & Arya, 2009). Previous research on strategic alliances has focused on partner selection issues, on the role of specific traits or characteristics that may be important in partner selection (e.g., partner’s reputation, trust) (Das & Teng, 1998a; Hitt, Dacin, Levitas, Arregle & Borza, 2000). This study addressed this research gap by analyzing the impact of firm- and relationship-specific factors on strategic alliance performance.
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