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When do firms enter a repeated partnership? The effect of contract terms and relative partner characteristics

Title
When do firms enter a repeated partnership? The effect of contract terms and relative partner characteristics
Authors
Oh, YoojinLee, Jongkuk
Ewha Authors
이종국
SCOPUS Author ID
이종국scopus
Issue Date
2017
Journal Title
MANAGEMENT DECISION
ISSN
0025-1747JCR Link1758-6070JCR Link
Citation
vol. 55, no. 10, pp. 2237 - 2255
Keywords
Partner selectionCountry relatednessEquity sharingFunctional scopeProduct market relatednessRepeated partnership
Publisher
EMERALD GROUP PUBLISHING LTD
Indexed
SSCI; SCOPUS WOS
Abstract
Purpose - The purpose of this paper is to understand the mechanisms of partner selection from the transaction cost economics' viewpoint. This paper reveals that a firm's choice to initiate a new alliance with a new partner or form a repeated alliance with an existing partner depends on contract terms and the relative characteristics of partners. Design/methodology/approach - The authors examine 555 alliances in high-tech industries from 2001 to 2009, which the authors collected from secondary sources, including the Securities Data Company Platinum and Compustat databases. The authors use a logit model to reveal the effect of contract terms and relative partner characteristics on repeated partnership. Findings - The results show that repeated partnership is less likely to be combined with equity sharing. Repeated partnership is also negatively associated with the functional scope of a new alliance. Finally, a firm is more likely to enter a repeated partnership when its partner is from a different country. Originality/value - This research provides new insights into how the choice of an alliance partner depends on contract terms and the relative characteristics of partners. Identifying factors associated with partner selection helps us understand the fundamental mechanisms of initiating a new alliance. It allows focal firms to foresee the behavior of their peers or competitors in certain circumstances and thus provides important insights for developing corresponding strategies more effectively.
DOI
10.1108/MD-08-2016-0570
Appears in Collections:
경영대학 > 경영학전공 > Journal papers
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