Complementarity, Status Similarity and Social Capital As Drivers of Alliance Formation  

Oleh:

Seunghwa, (Andy) Chung ; Singh, Harbir ; Lee, Kyungmook

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 21 no. 1 (2000), page 1-22.
Topik: social capital; strategic alliance; social capital; status; investment banking; inter organizational network

Ketersediaan

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

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Isi artikel

Using data on U. S. investment banking firms' syndication in underwriting corporate stock offerings during the 1980s, this study explores the factors that drive alliance formation between two specific firms. We compare resource complementarity, status similarity and social capital as a basis of alliance formation. The findings indicate that the likelihood of investment banks' alliance formation is positively related to the complementarity of their capabilities, as well as their status similarity. Social capital arising from banks' direct and indirect collaborative experiences also plays a very important role in alliance formation. The number of deals given by a lead bank to a potential partner over the past three years has an inverted U - Shaped relationship to the probability that the lead bank will invite the potential partner to form an alliance. Our findings indicate that status similarity and social capital have a stronger effect on allliance formation in initial public offering deals than in secondary offering deals, as the former, are more uncertain than the letter. Using these findings, we discuss the role of complementarity, status similarity, and social capital in alliance formation.

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