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

Shao-Chi Chang, Sheng-Syan Chen and Jung-Ho Lai

Omega, 2008, vol. 36, issue 2, 298-316

Abstract: 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.

Keywords: Learning; effect; Intellectual; capital; Tobin's; q; Experience; content; Strategic; alliances; Wealth; effect (search for similar items in EconPapers)
Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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