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Vertical alliance portfolios and the business performance of small technology-based firms

Title
Vertical alliance portfolios and the business performance of small technology-based firms
Author
이상명
Keywords
Alliance; portfolio; risk; coordination; performance
Issue Date
2017-01
Publisher
ROUTLEDGE JOURNALS
Citation
TECHNOLOGY ANALYSIS & STRATEGIC MANAGEMENT, v. 29, no. 4, page. 462-475
Abstract
This paper discusses how small technology-based firms (STBFs) effectively manage vertical alliances by choosing proper alliance structures to both manage challenges and pursue higher performance. We consider the main challenges of STBFs' vertical alliances as opportunistic risk and coordination concern between partners, and derive four types of vertical alliance portfolios with different extents of risk and return based on the relational perspective. We then examine the impact of each portfolio on performance and the moderating effect of STBFs' age and technological capability. The results show the portfolio focusing on bilateral alliances is not helpful for STBFs, while the others are useful. The portfolio focusing on unilateral alliances promises young firms better performance, while hybrid portfolios of unilateral and bilateral alliances are more helpful for older STBFs. In hybrid portfolios, bilateral alliance in the upstream is beneficial to specific technology-focused firms, while bilateral alliance in the downstream is recommended to STBFs whose technology covers a wider range.
URI
https://www.tandfonline.com/doi/full/10.1080/09537325.2016.1216537https://repository.hanyang.ac.kr/handle/20.500.11754/106117
ISSN
0953-7325; 1465-3990
DOI
10.1080/09537325.2016.1216537
Appears in Collections:
GRADUATE SCHOOL OF BUSINESS[S](경영전문대학원) > BUSINESS ADMINISTRATION(경영학과) > Articles
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