Friends or strangers? antecedents and consequences of strategic alliance partner selection

الملخص EN

Purpose : the objective of this study is to investigate behavioral antecedents and performance implications of broadening and reinforcing alliances.

by integrating the behavioral theory of the firm, threat rigidity theory, transaction cost econom ics, and social exchange theory, the study explores how firms make choices on alliance portfolio reconfiguration and how these choices affect firm profitability and growth.

study design/methodology/approach : the study applies random-effects negative binomial regressions and system generalized method of moments (GMM).

sample and data : a longitudinal dataset of fortune 500 companies between 1995 and 2015 is used as the study sample.

results : the results of the study show that CEO career horizon has a positive effect on broadening and reinforcing alliances.

the closer a firm is to bankruptcy, the less likely it is to form alliances with repeated or new partners.

firm slack has a positive effect on reinforcing alliances but no effect on broadening alliances.

the research findings also indicate a negative effect of broadening alliances on firm profitability.

there is a positive relationship between the count of reinforcing alliances and firm profit ability and growth.

originality/value : the study develops and examines an alliance portfolio reconfiguration model that encompasses behavioral antecedents and economic consequences of the alliance partner selection decision.

this study highlights the importance of balancing exploration and exploitation in strategic alliances.

research limitations/implications : the findings of the study provide insights to managers for designing a firm's alliance partners portfolio while pointing out the need for the awareness and consideration of the behavioral heuristics exhibited by CEOs.