This paper investigates whether and how prior alliance relationships create value in the context of subsequent mergers between partner firms. We argue that an acquirer's prior alliance experience with the target reduces information asymmetry and thus improves acquisition performance....

This paper examines whether a party to a strategic alliance or joint venture suffers from spillover effects when the other partner files for bankruptcy. We find that the non-bankrupt strategic alliance partners on average experience a negative stock price reaction around their partner firm's...

We link the hiring of R&D scientists from industry competitors to the subsequent formation of collaborative agreements, namely technology-oriented alliances. By transferring technological knowledge as well as cognitive elements to the hiring firm, mobile inventors foster the alignment of...

The purpose of this research is to explain why airlines should form a strategic alliance (SA). Based on the resource-based view theory, we develop three predictors: firm's size, number of hubs, and number of destinations, and analyze their effect on alliance formation. We also included two...

Objective: We theorize that alliances play a role as an external source of enforceability of bilateral investment treaties (BITs), and they do this by limiting the policy opportunism in foreign direct investment (FDI) host countries. We attempt to demonstrate that being party to common BITs and...

We analyze the role of common equity blockholders in fostering the formation of strategic alliances, establish a positive causal effect of strategic alliances on corporate innovation, and analyze the channels through which strategic alliances foster innovation. Our findings may be summarized as...

In times of digitalization, established firms operating in the financial services sector increasingly form alliances with start-up companies to satisfy the customers´ demand for rapid innovation and cope with the growing dynamics of markets. Technology-enabled innovation challenges traditional...

This study examines strategic alliances as channels for tax knowledge diffusion between firms. Although strategic alliances are primarily expected to foster their main business purposes, we focus on whether tax knowledge potentially diffuses as a second order effect of peer-to-peer cooperation....