Do Firms Learn to Create Value ? The Case of Alliances  

Oleh:

Anand, Bharat N. ; Khanna, Tarun

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 21 no. 3 (2000), page 295-316.
Topik: FIRMS; learning; joint ventures; licensing

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.5 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

We investigate whether firms learn to manage interfirm alliances as experience accumulates. We use contract - specific experience measures in a data set of over 2000 joint ventures and licensing agreements, and value creation measures derived from the abnormal stock returns surrounding alliance announcements. Learning effects are identified from the effects of unobserved heterogeneity in alliance capabilities. We find evidence of large learning effects in managing joint ventures, but no such evidence for licensing contracts. The effects of learning on value creation are strongest for research joint ventures, and weakest for marketing joint ventures. These results are consistent with the view that learning effects are more important in situations characterized by greater contractual ambiguity.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali