European Business Schools Librarian's Group
IESE Research Papers,
IESE Business School
No D/526: Alliance dynamics for entrepreneurial firms
Jeffrey J. Reuer and Africa Ariño ()
Additional contact information
Jeffrey J. Reuer: Fisher College of Business, Ohio State University
Africa Ariño: IESE Business School, Postal: Research Division, Av Pearson 21, 08034 Barcelona, SPAIN
Abstract: Small firms are thought to encounter various difficulties implementing strategic alliances. Due to these problems, they may be less able to reap the benefits of alliance adaptation, and the changes that occur in alliances over time often will not coincide with the small firm's interests. The evidence we present on contractual renegotiations in alliances suggests that small firms are no more or less likely to experience contractual changes in general. However, small firms tend to bear inefficiencies of two kinds in their collaborations. They are less likely to adapt alliances in the presence of governance misalignments. Furthermore, they are prone to make greater transaction-specific investments without commensurate contractual safeguards, which can lead to ex post hold-up in the form of contractual renegotiations.
Keywords: strategic alliances; entrepreneurial firms; small firms; contractual renegotiation; governance misalignment
23 pages, November 3, 2003
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DI-0526-E.pdf
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