dc.contributor.author
Mellewigt, Thomas
dc.contributor.author
Thomas, Adeline
dc.contributor.author
Weller, Ingo
dc.contributor.author
Zajac, Edward J.
dc.date.accessioned
2020-02-04T14:54:23Z
dc.date.available
2020-02-04T14:54:23Z
dc.identifier.uri
https://refubium.fu-berlin.de/handle/fub188/26582
dc.identifier.uri
http://dx.doi.org/10.17169/refubium-26339
dc.description.abstract
Research summary: While alliance researchers view prior partner‐specific alliance experience as influencing firms' subsequent alliance or acquisition decisions, empirical evidence on the alliance versus acquisition decision is surprisingly mixed. We offer a reconciliation by proposing and testing an analytical framework that recognizes prior partner‐specific experiences as heterogeneous along three fundamental dimensions: partner‐specific trust, routines, and value certainty. This allows us to use a policy‐capturing methodology to rigorously operationalize and test our mechanism‐level predictions. We find that all three mechanisms can increase the likelihood of a subsequent alliance or acquisition, and in terms of the comparative choice between alliances versus acquisitions, partner‐specific trust pulls towards alliances, and value certainty pulls towards acquisitions. We conclude with a discussion of the theoretical and empirical implications of our approach and method.
Managerial summary: This study focuses on an important corporate decision: When a firm has had an alliance with another firm, how would that experience affect the likelihood of a future alliance or acquisition with that same firm? We first suggest that it will depend on three factors: the level of trust that existed in that prior alliance, the extent to which specific work routines were developed, and the degree to which the firm was able to confidently assess the value of the partner firm's resources. We then find that trust is a particularly strong predictor of future alliances, while confidence regarding value more strongly predicts future acquisitions. In this way, we demonstrate more precisely how past corporate choices can affect (consciously or unconsciously) future ones.
en
dc.format.extent
17 Seiten
dc.rights.uri
https://creativecommons.org/licenses/by/4.0/
dc.subject
strategic alliances
en
dc.subject
acquisitions
en
dc.subject
alliance experience
en
dc.subject
policy‐capturing
en
dc.subject
scenario experiment
en
dc.subject.ddc
300 Sozialwissenschaften::330 Wirtschaft::330 Wirtschaft
dc.title
Alliance or acquisition? A mechanisms‐based, policy‐capturing analysis
dc.type
Wissenschaftlicher Artikel
dcterms.bibliographicCitation.doi
10.1002/smj.2664
dcterms.bibliographicCitation.journaltitle
Strategic management journal
dcterms.bibliographicCitation.number
12
dcterms.bibliographicCitation.pagestart
2353
dcterms.bibliographicCitation.pageend
2369
dcterms.bibliographicCitation.volume
38
dcterms.bibliographicCitation.url
https://doi.org/10.1002/smj.2664
refubium.affiliation
Wirtschaftswissenschaft
refubium.affiliation.other
Betriebswirtschaftslehre / Management-Department

refubium.resourceType.isindependentpub
no
dcterms.accessRights.openaire
open access
dcterms.isPartOf.issn
0143-2095
dcterms.isPartOf.eissn
1097-0266