Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1033379 | Omega | 2008 | 19 Pages |
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.
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Strategy and Management
Authors
Shao-Chi Chang, Sheng-Syan Chen, Jung-Ho Lai,