Research Notes and Commentaries
Network resource stocks and flows: how do alliance portfolios affect the value of new alliance formations?
Article first published online: 19 OCT 2011
Copyright © 2011 John Wiley & Sons, Ltd.
Strategic Management Journal
Volume 33, Issue 7, pages 871–883, July 2012
How to Cite
Wassmer, U. and Dussauge, P. (2012), Network resource stocks and flows: how do alliance portfolios affect the value of new alliance formations?. Strat. Mgmt. J., 33: 871–883. doi: 10.1002/smj.973
- Issue published online: 7 MAY 2012
- Article first published online: 19 OCT 2011
- Accepted manuscript online: 6 OCT 2011 09:35AM EST
- Manuscript Revised: 3 OCT 2011
- Manuscript Received: 11 SEP 2009
- resource-based view of the firm;
- network resources;
- strategic alliances;
- alliance portfolios;
- value creation
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. Copyright © 2011 John Wiley & Sons, Ltd.