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- Publisher
- Springer Journals
- Copyright
- Copyright © 2010 by The Author(s)
- Subject
- Business and Management; Business and Management, general; Marketing; Social Sciences, general
- ISSN
- 0092-0703
- eISSN
- 1552-7824
- DOI
- 10.1007/s11747-010-0229-y
- Publisher site
- See Article on Publisher Site
Abstract
The past few decades have witnessed a significant increase in the number of cross-border strategic alliances among firms. We focus on the role of alliance expertise (alliance experience and diversity of partners) and alliance governance (horizontal vs. vertical alliances and joint venture vs. other alliances) in global innovation generation. We also examine the effect of these variables on the financial performance of the focal firm. The conceptual model is tested using an empirical analysis of cross-border alliances formed by U.S. pharmaceutical companies from 1985 to 2008. We find that while prior alliance experience has a positive association with global innovation generation, diversity of partners has a negative relationship. In addition, whether the alliance is horizontal or vertical has no bearing on the innovation generation, but joint ventures are associated with more global innovation generation than other types of alliances. Finally, as global innovation generation increases, financial performance increases up to a point but thereafter exhibits a negative relationship.
Journal
Journal of the Academy of Marketing Science – Springer Journals
Published: Oct 16, 2010