Abstract
The objective of the present work consists in testing whether the strategic involvement of boards of directors has a positive influence on the development of alliance portfolio management capability and on the value that the alliance portfolio generates. A variance-based structural equation modelling (Partial Least Squares) has been applied to a sample constituted by 139 top Spanish companies. Our analysis shows that the strategic involvement of the board of directors has a positive and influence on the management of alliance portfolios, thereby influencing the value of that portfolio in an indirect way. Unlike previous literature, this study links the functions of the board of directors to organizational capabilities, connecting the literature on corporate governance and on management of alliance portfolios.
Highlights
Strategic alliances have become a valuable strategic tool for firm competitiveness (Schilke, Goerzen 2010), because they constitute an appropriate mechanism to redress certain shortages of resources (Hoffmann 2005) in increasingly competitive business environments that fluctuate sharply
The study shows that the strategic involvement of the board of directors has a positive and significative influence on the different organizational processes linked to the management of alliance portfolios, thereby influencing the value of that portfolio in an indirect way
This study has helped to demystify the complex relationships between the strategic involvement of boards of directors and the results linked to the management of the alliance portfolio
Summary
Strategic alliances have become a valuable strategic tool for firm competitiveness (Schilke, Goerzen 2010), because they constitute an appropriate mechanism to redress certain shortages of resources (Hoffmann 2005) in increasingly competitive business environments that fluctuate sharply. These alliances have generally been studied in the literature from an atomistic perspective (dyadic ties) (Granovetter 1992; Schreiner et al 2009). Firms involve themselves in simultaneous strategic alliances with multiple partners establishing important interorganizational networks. Alliance portfolio management capability may be defined as the capabil-
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