The effects of strategic alliance emphasis and marketing efficiency on firm value under different technological environments

摘要

Firms are increasingly engaging in alliances, and managers need to set strategic priorities for their alliance portfolios. This study defines the relative priority firms place on specific types of alliances over others (i.e., strategic alliance emphasis). Using data on firm alliances and financial information, this study empirically examines how strategic alliance emphasis and marketing efficiency impact firm value in various technological environments. The results indicate that alliance success depends on a firm's marketing efficiency. We also find that the technological environment plays a moderating role in this relationship. This study contributes to the literature on strategic alliances by testing how various types of strategic alliances affect firm value. The results can provide managers with guidance on handling their alliance portfolios.