The effect of alliance experience and intellectual capital on the value creation of international strategic alliances

被引：52
|
作者：
Chang, Shao-Chi [1 ]
Chen, Sheng-Syan
Lai, Jung-Ho
机构：
[1] Natl Cheng Kung Univ, Inst Int Business, Tainan 70101, Taiwan
[2] Natl Taiwan Univ, Dept Finance, Taipei, Taiwan
来源：
OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE | 2008年 / 36卷 / 02期
关键词：
learning effect; intellectual capital; Tobin's q; experience content; strategic alliances; wealth effect;
D O I：
10.1016/j.omega.2006.06.010
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
This paper investigates the effects of intellectual capital (IC), alliance experience and their interaction on the value creation of international strategic alliances (ISAs). Based on a sample of ISAs formed by US firms, we find that firms with a higher level of IC receive greater announcement-period wealth gains. In addition, the empirical results suggest experience positively enhances the wealth effect of ISAs. Finally, we find a significant positive interaction effect between experience and IC on the wealth creation of ISAs. The results demonstrate the importance of considering the joint effects of IC and experience in assessing the value creation of ISAs. (c) 2006 Elsevier Ltd. All rights reserved.
引用
收藏
页码：298 / 316
页数：19
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