Beschreibung
In this paper we investigate the determinants of choosing minority alliances over joint ventures, suggesting that – while both are forms of equity alliances – they offer different governance advantages for firms and should thus be distinguished. Whereas prior research has focused on joint ventures as ideal types of equity alliances, scholars have largely overlooked the role of minority alliances as an alternative mode of equity-based governance. In a first step, we develop a framework to differentiate joint ventures from minority alliances. This allows us to disentangle each alliance forms’ specific abilities to provide effective safeguarding, coordination and flexibility—more comprehensively than prior research has done. In a second step, we develop hypotheses regarding the conditions under which minority alliances may be favored over joint ventures, offering a clear extension to the existing literature. Finally, we use a policy capturing approach to investigate manager’s choice of minority alliances versus joint ventures in a quasi- experimental setting. Our results show that managers can significantly distinguish between both equity-based forms under a broad alliance scope and high levels of asset specificity, but do not differentiate between minority alliances and joint ventures when a R&D component exits in the collaboration or when technological uncertainty is high.| Zeitraum | 9 Aug. 2019 → 13 Aug. 2019 |
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| Ereignistitel | Academy Of Management Conference |
| Veranstaltungstyp | Keine Angaben |
| Bekanntheitsgrad | International |