• Journal of Korea Trade
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• v.23 no.6
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• pp.145-158
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• 2019

Purpose - Alliance members have constantly revised market strategies over time by withdrawing membership from a current alliance, joining another alliance, or constructing a new alliance. From the perspective of the signaling effect, the purpose of this study is to analyze the impacts of partner volatility (new member, old member, and new group) on firm value. Design/methodology - To analyze the impact of partner volatility on firm value, companies in strategic alliances are classified into the three groups of new partner, existing partner, and new alliance, and the effects on company value are verified through an event study and the signaling effect analysis. Findings - This study proved that new partners and newly formed strategic alliances have higher expectation effects than old partner company groups, and have a more positive effect on the relevant firms' stock prices. In addition, the result of the study showed the same valid results as the alliance levels, and showed that investors' expectations were higher with new partners and new alliances than with old partners. Research Implications - A new perspective on the signaling effects of strategic alliances among shipping lines was presented in this study by grouping alliance types including new member, old member, and new group. The results provide useful insights for selecting partners and firm values of alliance announcement times. Originality/value - This study analyzed partner volatility on relevant companies' stock prices from the perspective of investors from the global shipping conference reorganization in 2017. Strategic alliances were classified into the three categories of new partner, old partner, and new alliance, and the effects on firm value were verified.

• Journal of Technology Innovation
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• v.20 no.1
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• pp.17-43
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• 2012

Alliance formation has been recognized as an important strategy for firms who seek to survive through acquisition of sustainable competitive advantages. Specifically in high-tech industries, firms may consider formation of strategic alliances in order to access valuable external knowledge. These firms tend to be situated in a dilemma that they should choose between exploration and exploitation, which are two types of strategic choices suggested by March (1991). Working out the dilemma has been extensively discussed in the area of strategy or organization learning. Recently, however, an increasing number of studies have stressed on a balance between exploration and exploitation. Regarded as 'ambidextrous organizations' (Lavie and Rosenkopf, 2006), these firms that simultaneously pursue exploration and exploitation have emerged in high-tech industries, and many studies have provided evidence of positive association between organizational ambidexterity and firm performance. In the strategic alliance research, accordingly, scholars began to pay attention to the balanced choice between exploration-and exploitation-oriented alliances. Given these backgrounds, this study examines the relationship between alliance ambidexterity and firm performance. While previous research approached alliance ambidexterity mainly from the number of alliances, our study suggests ambidexterity in terms of alliance portfolio and alliance partner. Our dataset consists of biotechnology or pharmaceutical firms in the United States, which spans time period between 1990 and 2005. We conduct panel data analysis. The results show the strong link between alliance ambidexterity and firm performance, highlighting the balance between exploration and exploitation when firms make strategic decisions.

• The Korean Journal of Franchise Management
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• v.2 no.1
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• pp.134-151
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• 2011

The strategy for brand alliance is a new type of franchise to iron out the problems like the hotel restaurant's structural contradiction and decreasing profits caused by keen competition with external restaurants. This study is purposed to present the decisive factors for the brand alliance throughexamining the correlations between the brand restaurant designation standards and the expected effects from local low- and mid-priced hotel's brand alliance. The questionnaires were distributed to instructors and professors who have experience in teaching the food and beverage sections at college's hotel and tourism departments and 100 specialists at managerial level of a hotel's food and beverage parts.This survey was conducted for 20 days from December 2 to 22, 2004 and analyzed by independent t-test and canonical correlation analysis. The findings of this survey are as follows.Firstly, the service of the expected effect factors of the brand alliance was recognized relatively high by the specialists in hotel industry, while the sales effect factor of restaurant designation standards was recognized higher by the academic experts.The specialists of the hotel industry recognized the factors of menu and corporate culture higher than the academic experts. Secondly, the entire factors of the brand restaurant designation standards showed a correlation with the whole factors of the restaurant designation standards.In particular, the 'menu' factor presented the most influential to the expected effects of brand alliance.The factors of 'risk reduction' and 'synergy effect' exerted the strongest effect on the restaurant designation standards, which indicated the mutual correlation between the expected effect of brand alliance and the restaurant designation standards. Based on this study, the correlation between the expected effect of brand alliance and brand restaurant designation standards may play a primary role to choose a partner for the brand alliance, a decisive factor for the success.The execution of the brand alliance or the method to designate the alliance partner may vary from the hotel's desirable effects when the brand alliance is determined.In other words, the partner designation standards should be corresponding to the expected effects from the brand alliance between hotel and brand restaurant, and the academic and industrial experts' perceived differences in the expected effects of brand alliance and restaurant designation standards should be clarified to display the direction of decision-making and find the potential risks.

• Journal of Distribution Science
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• v.12 no.5
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• pp.15-26
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• 2014

Purpose - This study addresses an acquisition's impact on a firm's strategic relationship based on findings of existing academic studies and theoretical assertions. Through examining existing research results and theoretical grounds for an acquisition's impact on various stakeholders, this study indirectly approaches the impact on stakeholders including alliance partners. Research design, data, and methodology - This research identified a variety of related theoretical foundations and empirical studies. Research objectives of prior studies mainly focused on merging firms and direct participants of acquisition activity. In addition, academic attention on the impact on rival firms has recently been growing. However, little research on alliance partners was found. Prior studies simultaneously employed event study methodology and cross-sectional analysis to make further theoretical contributions. Results and Conclusions - Based on the findings of prior studies, this research proposed a complementary research model for future academic inquiry into the impact of an acquisition on an alliance partner's return and for predicting an acquisition announcement's effect on alliance partners.

• Broadcasting and Media Magazine
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• v.21 no.1
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• pp.33-40
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• 2016

UHD Alliance has been established to re-define what UHD is and to provide thoroughly new premium experience as compared to BT.709 (1990)[1]. Preserving creator's intended visual quality is empowered by defining not only compatibility but also quality and by keeping quality criteria consistently over the content ecosystem. This paper deals with philosophy of quality criteria for HDR and WCG as major feature of technical characteristics of the UHD Alliance.

• Asia pacific journal of information systems
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• v.13 no.3
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• pp.41-62
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• 2003

This study investigated the current status and characteristics of strategic alliances attempted by domestic internet businesses. Specifically, this study surveyed competitive environmental characteristics of partner companies involved, alliance period, types of partner companies, motives of alliances, types of alliances, success and failure factors and satisfaction toward the alliances. Major findings were: first, alliances between portal companies and content producers; portal companies and internet services; e-commercial sites and internet services were the most frequent partnerships engaged. Second, the most important motive for and type of the strategic alliance were: 'the commercialization and marketing of new product' and 'joint distribution and marketing agreement' respectively. Third, the most important factor for the successful alliance was 'a close examination of partners' core business value and competence'; and the factor most hindering the successful alliance was 'a discrepancy on capabilities of partners' core personnel. Finally types of internet business were significantly related to perceived satisfaction toward strategic alliance.

• Telecommunications review
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• v.25 no.4
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• pp.605-621
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• 2015

The diffusion of smart devices has greatly influenced the market dynamics of the telecommunications industry. The competition paradigm has shifted from individual firm-based competition to ecosystem-based competition. To satisfy the diverse needs of market customers, it has become more important for telecommunications companies to form alliances with complementary partners in the ecosystem. This study empirically investigates the influence of ecosystem-based alliance formations on the financial performance of firms in the Korean telecommunications market. Specifically, the impact of a CPND (Content, Platforms, Networks, and Devices) alliance in the ICT (Information and Communications Technology) sector on firms' profitability is examined using a structural equation model. The results indicate that before the diffusion of smart devices, ecosystem-based alliance formations with other firms in the ICT ecosystem were not effective for enhancing profitability. However, after this diffusion, alliance formation between members of the value chain in the ICT ecosystem contributed significantly to firms' financial performance. This implies that recent alliances with firms that are constituents of the ICT ecosystem are an important element of profit generation in the ICT market in Korea.

• Journal of Navigation and Port Research
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• v.26 no.4
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• pp.391-398
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• 2002

The question of how to make strategic alliances work successfully is becoming increasingly important as more and more firms regard cooperative relationships as a means of improving their competitive position. The objectives of this research are to determine whether certain liner shipping alliance forms are more successful than others, whether the relative importance of reasons for successful liner shipping alliance varies with the different reasons, and whether the relative importance of reasons for alliance success varies with the form liner shipping alliances. The research findings have shown that the majority of liner shipping alliance forms, utilised by respondents in this survey, experienced a relatively high level of success. However, success was shown to be dependent upon a variety of factors and the reasons for successful alliance varied with the form of alliances.

• Journal of Technology Innovation
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• v.21 no.2
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• pp.225-254
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• 2013

This paper examines an explanatory power of primary alliance motivation theories, such as 'Transaction-Cost Economics (TCE)' and 'Resource-Based View (RBV)', on the technological alliance partner selection criteria, governance and performance. Adopting perspectives of integration provided by TCE and RBV, this work examines the impact of both theories on the alliance processes such as alliance partner selection, governance and performance. Empirical findings show that both TCE and RBV are effective in explaining the choice of technological alliance partners. In addition, TCE appears to be more effective in providing explanation of technological alliance governance structure. Also, both TCE and RBV are effective in evaluating the technological alliance performance phase, though RBV appears to be slightly more effective.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.4
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• pp.1663-1674
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• 2011

The study focused on how the end result of working alliance is affected by empathy on each group and creative personality of the counselor on their counsel. In order to do so, the level of working alliance, empathy, and creativeness of the counselor are evaluated on the survey. And the survey and analysis are performed by two different groups; counselors and clients, among 88 pairs of people who had counseled at least more than three times. The conclusion of the study is as follows. First, it has been found that empathy with each group and creative personality of a counselor is partially significantly correlated with the level of working alliance according to the result from both groups. Second, the consequence of evaluation the empathy of counselor has bigger impact on working alliance in group of counselors. But on working alliance has been affected by empathy for both clients and counselors and creative personality in group of clients. Last of all, level of working alliance has a significant correlation with years of experience and professionalism in group of counselors. However, there was a partially significant correlation between working alliance and professionalism in group of clients.