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政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/117540

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/117540

Title:	Is Experience Valuable in International Strategic Alliances?
Authors:	陳聖賢 Lai, Jung-Ho Chang, Shao-Chi Chen, Sheng-Syan
Contributors:	財管系
Keywords:	International alliances. Experience;Non-equity;Stock returns;Operating performance
Date:	2010
Issue Date:	2018-06-11 16:57:45 (UTC+8)
Abstract:	This study investigates whether firms benefit from prior alliance experiences as they undertake international strategic alliances. Different from previous studies that mostly focus on equity joint ventures, this study investigates non-equity alliances. This specific investigation is essential, because the complexity and uncertainty associated with such alliances potentially magnify the benefits of experiential learning. With a sample of 629 international, non-equity alliances formed by US firms, our results confirm the contribution of ISA experience in general, as well as that of experience specific to partner`s country of origin and alliance activity type. The results also reveal a contingent benefit of ISA experiences, where experience of technological cooperation and experience with alliance partners from emerging countries both add more to firm value. We derive consistent evidence, as performance is assessed either by the market`s perception of ISA value creation, or by the post announcement operating earnings in practice.
Relation:	Journal of International Management, Vol.16, No.3, pp.247-261
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1016/j.intman.2010.06.004
DOI:	10.1016/j.intman.2010.06.004
Appears in Collections:	[財務管理學系] 期刊論文

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