The complementary effects of transaction cost economics and resource-based view: a technological alliance perspective

Abstract

This paper examines the impact of two theoretical frameworks - transaction cost economics (TCE) and resource-based view (RBV) - on alliance processes among Korean high-tech manufacturing ventures. Results show that TCE and RBV can be applied complementarily to explain the formation of technological alliances. TCE variables are more related with alliance partner characteristics, while RBV is linked with partner capabilities. Both show positive effects on performance. No significant effect is found regarding alliance governance structure. While selecting appropriate technological alliance partners shows positive effects on performance, no significant effect is found between alliance governance structure and performance. Elements of both theories impacting each alliance stage and analytical explanations of such impacts are discussed.