Vertical vs. Horizontal: How Strategic Alliance Type Influence Firm Performance?
| Autor: | Baojun Yu, Hangjun Xu, Feng Dong |
|---|---|
| Rok vydání: | 2019 |
| Předmět: |
Horizontal and vertical
horizontal alliances Geography Planning and Development TJ807-830 Management Monitoring Policy and Law TD194-195 Renewable energy sources Private investment in public equity 0502 economics and business Mergers and acquisitions GE1-350 Strategic alliance Industrial organization strategic alliances average abnormal return Environmental effects of industries and plants Scope (project management) Renewable Energy Sustainability and the Environment 05 social sciences Environmental sciences Alliance Conceptual framework 050211 marketing Business vertical alliances symmetric alliances asymmetric alliances 050203 business & management |
| Zdroj: | Sustainability Volume 11 Issue 23 Sustainability, Vol 11, Iss 23, p 6594 (2019) |
| ISSN: | 2071-1050 |
| DOI: | 10.3390/su11236594 |
| Popis: | Strategic alliances have become a key focus in the management and marketing literature. However, much of the previous research in this area has focused on the antecedents and accounting effects of strategic alliances. There is an opportunity to more closely examine how alliance types might influence the public equity markets. As a result, this study summarizes the literature for the theoretical foundation of strategic alliances to increase the understanding of the two main types of strategic alliances, that is industry scope (vertical vs. horizontal alliances) and size scope (asymmetric vs. symmetric alliances). Then, this study proposes a conceptual framework to examine the main and relative effects between different types of strategic alliances and firm performance. Using the Bloomberg Mergers and Acquisitions (M& A) database from 1 January 2010 to 1 January 2016, we find that vertical symmetric alliances gain more abnormal returns than others. Finally, implications and limitations are also discussed. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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