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Network resource stocks and flows : How do alliance portfolios affect the value of new alliance formations?

Author

Listed:
  • Ulrich Wassmer

    (EM - EMLyon Business School)

  • Pierre Dussauge

Abstract

We examine how new network resources accessed through alliance formations interact with network resources present in a firm's alliance portfolio. We test our theoretical model using event study methodology and data from the global air transportation industry. We find that the market rewards firms forming alliances that contribute resources that can be synergistically combined with firms' own resources as well as with network resources accessed through their alliance portfolios. Our results also indicate that the market penalizes firms entering into alliances that create resource combinations that are substitutes to resource combinations deployed by existing alliance partners.

Suggested Citation

  • Ulrich Wassmer & Pierre Dussauge, 2012. "Network resource stocks and flows : How do alliance portfolios affect the value of new alliance formations?," Post-Print hal-02313044, HAL.
    • Handle: RePEc:hal:journl:hal-02313044
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    Cited by:

    1. Shi, Wei & Tang, Yinuo, 2015. "Cultural similarity as in-group favoritism: The impact of religious and ethnic similarities on alliance formation and announcement returns," Journal of Corporate Finance, Elsevier, vol. 34(C), pages 32-46.
    2. Zhiwei Wang & Hui Sun & Chenxin Ding & Long Xin & Xuechao Xia & Yuanyuan Gong, 2023. "Do Technology Alliance Network Characteristics Promote Ambidextrous Green Innovation? A Perspective from Internal and External Pressures of Firms in China," Sustainability, MDPI, vol. 15(4), pages 1-23, February.
    3. Tom Broekel & Matthias Brachert, 2015. "The structure and evolution of inter-sectoral technological complementarity in R&D in Germany from 1990 to 2011," Journal of Evolutionary Economics, Springer, vol. 25(4), pages 755-785, September.
    4. Cannavale, Chiara & Esempio, Anna & Ferretti, Marco, 2021. "Up- and down- alliances: A systematic literature review," International Business Review, Elsevier, vol. 30(5).
    5. Dr. Seung Hoon Jang, 2013. "The Offensive Framework of Resource Based View (RBV): Inhibiting Others from Pursuing Their Own Values," Journal of Management and Strategy, Journal of Management and Strategy, Sciedu Press, vol. 4(1), pages 62-69, February.
    6. Cobeña, Mar & Gallego, à ngeles & Casanueva, Cristóbal, 2019. "Diversity in airline alliance portfolio configuration," Journal of Air Transport Management, Elsevier, vol. 75(C), pages 16-26.
    7. Manuela N. Hoehn-Weiss & Samina Karim & Chi-Hyon Lee, 2017. "Examining Alliance Portfolios Beyond the Dyads: The Relevance of Redundancy and Nonuniformity Across and Between Partners," Organization Science, INFORMS, vol. 28(1), pages 56-73, February.
    8. Pangarkar, Nitin & Yuan, Lin & Hussain, Sairah, 2017. "Too much of a good thing? Alliance portfolio size and alliance expansion," European Management Journal, Elsevier, vol. 35(4), pages 477-485.
    9. Chengwei Ge & Wendong Lv & Junli Wang, 2023. "The Impact of Digital Technology Innovation Network Embedding on Firms’ Innovation Performance: The Role of Knowledge Acquisition and Digital Transformation," Sustainability, MDPI, vol. 15(8), pages 1-21, April.
    10. de Leeuw, Tim & Lokshin, Boris & Duysters, Geert, 2014. "Returns to alliance portfolio diversity: The relative effects of partner diversity on firm's innovative performance and productivity," Journal of Business Research, Elsevier, vol. 67(9), pages 1839-1849.
    11. Cobeña, Mar & Gallego, Ángeles & Casanueva, Cristóbal, 2017. "Heterogeneity, diversity and complementarity in alliance portfolios," European Management Journal, Elsevier, vol. 35(4), pages 464-476.
    12. Casanueva, Cristóbal & Gallego, Ángeles & Sancho, María, 2013. "Network resources and social capital in airline alliance portfolios," Tourism Management, Elsevier, vol. 36(C), pages 441-453.
    13. Casanueva, Cristóbal & Gallego, Ángeles & Castro, Ignacio & Sancho, María, 2014. "Airline alliances: Mobilizing network resources," Tourism Management, Elsevier, vol. 44(C), pages 88-98.
    14. Cho, Sam Yul & Arthurs, Jonathan D., 2018. "The influence of alliance experience on acquisition premiums and post-acquisition performance," Journal of Business Research, Elsevier, vol. 88(C), pages 1-10.
    15. Kavusan, K., 2015. "Essays on capability development through alliances," Other publications TiSEM 8eb736a5-b217-4718-ac13-d, Tilburg University, School of Economics and Management.
    16. Castiglioni, Marco & Gallego, à ngeles & Galán, José Luis, 2018. "The virtualization of the airline industry: A strategic process," Journal of Air Transport Management, Elsevier, vol. 67(C), pages 134-145.
    17. Wei Han & Feng-Wen Chen & Yu Deng, 2018. "Alliance Portfolio Management and Sustainability of Entrepreneurial Firms," Sustainability, MDPI, vol. 10(10), pages 1-22, October.
    18. Rosińska-Bukowska Magdalena, 2020. "The significance of intellectual capital in strategies of transnational corporations," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 56(4), pages 291-306, December.
    19. Guo, Min & Yang, Naiding & Wang, Jingbei & Zhang, Yanlu & Wang, Yan, 2021. "How do structural holes promote network expansion?," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    20. Kobarg, Sebastian & Stumpf-Wollersheim, Jutta & Welpe, Isabell M., 2019. "More is not always better: Effects of collaboration breadth and depth on radical and incremental innovation performance at the project level," Research Policy, Elsevier, vol. 48(1), pages 1-10.
    21. Baojun Yu & Hangjun Xu & Feng Dong, 2019. "Vertical vs. Horizontal: How Strategic Alliance Type Influence Firm Performance?," Sustainability, MDPI, vol. 11(23), pages 1-14, November.
    22. Luis Miguel Bolívar & José Luis Roldán & Ignacio Castro-Abancéns & Cristóbal Casanueva, 2022. "Speed of International Expansion: The Mediating Role of Network Resources Mobilisation," Management International Review, Springer, vol. 62(4), pages 541-568, August.
    23. Piening, Erk P. & Salge, Torsten Oliver & Schäfer, Sebastian, 2016. "Innovating across boundaries: A portfolio perspective on innovation partnerships of multinational corporations," Journal of World Business, Elsevier, vol. 51(3), pages 474-485.
    24. Doohee Chung & Marco Jinhwan Kim & Jina Kang, 2019. "Influence of alliance portfolio diversity on innovation performance: the role of internal capabilities of value creation," Review of Managerial Science, Springer, vol. 13(5), pages 1093-1120, November.
    25. Dovev Lavie & Randi Lunnan & Binh Minh T. Truong, 2022. "How does a partner's acquisition affect the value of the firm's alliance with that partner?," Strategic Management Journal, Wiley Blackwell, vol. 43(9), pages 1897-1926, September.

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