IDEAS home Printed from https://ideas.repec.org/a/eee/eurman/v18y2000i1p63-69.html
   My bibliography  Save this article

Alliances versus acquisitions: choosing the right option

Author

Listed:
  • Garette, Bernard
  • Dussauge, Pierre

Abstract

Recently, a wave of corporate acquisitions has swept across Europe, prompted by liberalisation and unification in the European Union. The authors ask the question: Has this made the traditional preference by European firms for alliances and co-operative strategies obsolete? Bearing in mind that, in global terms, alliances are popular, another question is: Should European firms use their experiences in alliances to develop new alliance strategies as an alternative to joining the trend to acquisitions? After a review of the European model of alliances, the authors discuss the pros and cons and rationale for horizontal acquisitions and scale alliances, and argue in favour of more aggressive complementary alliances combined with mergers and acquisitions to expand in Europe as well as globally.

Suggested Citation

  • Garette, Bernard & Dussauge, Pierre, 2000. "Alliances versus acquisitions: choosing the right option," European Management Journal, Elsevier, vol. 18(1), pages 63-69, February.
    • Handle: RePEc:eee:eurman:v:18:y:2000:i:1:p:63-69
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0263237399000699
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Stienstra, Miranda, 2020. "The determinants and performance implications of alliance partner acquisition," Other publications TiSEM 7fdee0c2-d4d2-4f5b-95e3-2, Tilburg University, School of Economics and Management.
    2. Ortiz-de-Urbina-Criado, Marta & Montoro-Sánchez, Ángeles & Mora-Valentín, Eva-María, 2014. "Impact of growth strategy on mode of governance in alliances," International Business Review, Elsevier, vol. 23(4), pages 838-848.
    3. Wanke, Peter & Tsionas, Mike G. & Chen, Zhongfei & Moreira Antunes, Jorge Junio, 2020. "Dynamic network DEA and SFA models for accounting and financial indicators with an analysis of super-efficiency in stochastic frontiers: An efficiency comparison in OECD banking," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 456-468.
    4. Wim Vanhaverbeke & Geert Duysters & Niels Noorderhaven, 2002. "External Technology Sourcing Through Alliances or Acquisitions: An Analysis of the Application-Specific Integrated Circuits Industry," Organization Science, INFORMS, vol. 13(6), pages 714-733, December.
    5. Barmeyer, Christoph & Mayrhofer, Ulrike, 2008. "The contribution of intercultural management to the success of international mergers and acquisitions: An analysis of the EADS group," International Business Review, Elsevier, vol. 17(1), pages 28-38, February.
    6. Luis Alberiko Gil-Alana & Carlos Barros & Dercio Mandlaze, 2017. "A performance assessment of Mozambique banks: a Bayesian stochastic frontier," Applied Economics, Taylor & Francis Journals, vol. 49(45), pages 4579-4587, September.
    7. van de Vrande, Vareska & Vanhaverbeke, Wim & Duysters, Geert, 2009. "External technology sourcing: The effect of uncertainty on governance mode choice," Journal of Business Venturing, Elsevier, vol. 24(1), pages 62-80, January.
    8. Schön, Benjamin & Pyka, Andreas, 2013. "The success factors of technology-sourcing through mergers & acquisitions: An intuitive meta-analysis," FZID Discussion Papers 78-2013, University of Hohenheim, Center for Research on Innovation and Services (FZID).
    9. Barros, Carlos Pestana & Wanke, Peter, 2014. "Banking efficiency in Brazil," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 28(C), pages 54-65.
    10. McCarthy, Killian J & Aalbers, Hendrik Leendert, 2022. "Alliance-to-acquisition transitions: The technological performance implications of acquiring one's alliance partners," Research Policy, Elsevier, vol. 51(6).
    11. Woltering-Lamers, Philipp, 2011. "Die sequenzielle Organisationswahl: Kooperationen als Vorstufe von Akquisitionen," Arbeitspapiere 122, University of Münster, Institute for Cooperatives.
    12. Lara Penco & Giorgia Profumo, 2016. "Merger&Acquisitions (M&As) e alliances delle imprese crocieristiche: un?analisi delle determinanti strategiche," ECONOMIA E DIRITTO DEL TERZIARIO, FrancoAngeli Editore, vol. 2016(2), pages 237-264.
    13. Wanke, Peter & Barros, Carlos P. & Faria, João R., 2015. "Financial distress drivers in Brazilian banks: A dynamic slacks approach," European Journal of Operational Research, Elsevier, vol. 240(1), pages 258-268.
    14. Valérie Moatti & Pierre Dussauge, 2005. "L’influence du mode de développement sur les avantages liés à la taille : une étude empirique dans le secteur de la grande distribution au niveau mondial," Revue Finance Contrôle Stratégie, revues.org, vol. 8(3), pages 145-176, September.
    15. Krammer, Sorin M.S., 2016. "The role of diversification profiles and dyadic characteristics in the formation of technological alliances: Differences between exploitation and exploration in a low-tech industry," Research Policy, Elsevier, vol. 45(2), pages 517-532.
    16. Fateh Saci & Boualem Aliouat, 2013. "La création de valeur des alliances stratégiques et des fusions-acquisitions : justification comparative par le modèle de mesure de la valeur financière "cas des sociétés du SBF 250"," Post-Print halshs-00877514, HAL.
    17. Choi, Young Rok & Phan, Phillip H. & Choi, Jaepil, 2020. "Formal governance, interfirm coordination, and performance in partnerships: An empirical investigation of a mediation model," European Management Journal, Elsevier, vol. 38(3), pages 413-424.
    18. Caroline Greenslade & Richard J. Murphy & Stephen Morse & Geoffrey H. Griffiths, 2021. "Breaking Down the Barriers: Exploring the Role of Collaboration in the Forestry Sector of South East England," Sustainability, MDPI, vol. 13(18), pages 1-22, September.
    19. Akbar Zaheer & Exequiel Hernandez & Sanjay Banerjee, 2010. "Prior Alliances with Targets and Acquisition Performance in Knowledge-Intensive Industries," Organization Science, INFORMS, vol. 21(5), pages 1072-1091, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eurman:v:18:y:2000:i:1:p:63-69. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/115/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.