• Korea Trade Review
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• v.41 no.4
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• pp.157-183
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• 2016

This study examines the effects of the acquirer's experience on cross-border mergers and acquisitions(CB M&A) performance. We posit that various types of experience on M&A, including heterogeneity of experience, strategic alliance experience, first CB M&A, domestic and CB M&A experience may have an influence on the performance of CB M&A. The hypotheses are tested with multiple regression on global M&As made by Korean firms over the period of more than fifteen years. The empirical results indicate that firms with domestic M&A experience and the ones with CB M&A experience improve firm performance. Specifically, CB M&A experience more strongly and positively affects CB M&A performance. It also reveals that M&A experience and first CB M&A positively affect CB M&A performance. However, heterogeneity of experience negatively affects CB M&A performance and it has found no significant relationship between strategic alliance and firm performance. In addition, data show that the better explanation is an overall U-shaped relationship than a linear one between CB M&A experience and Performance. Overall, this study contributes to the literature on CB M&A by examining the effect of various types of experience such as heterogeneity of experience and alliance experience and offering a different explanation based on experience, more specifically, addressing the negative relationship between heterogeneity of experience and M&A performance.

• Journal of the Korean Society of Clothing and Textiles
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• v.28 no.910
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• pp.1208-1218
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• 2004

The purposes of this study were to examine the alliance success factors (ASF) and the business environments (BE) from the textile companies' viewpoint, to examine the differences in ASF and BE by firm characteristics, and to examine the relationships between BE and ASF. BE included the degree of market competition and the firm's competitive advantage, and firm characteristics included type of business, the number of employees, and length of business operation. Data were obtained from 155 textile companies in Daegu and Gyeongbuk regions in Korea via a questionnaire survey. Four factors including relationship capital, organizational support, alliance management, and alliance performance were extracted from ASF, and resources, product development, and marketing were extracted from the firm's competitive advantage. There were differences in product development by the number of employees and in the degree of market competition by type of business. The degree of market competition had significant relationships with all of ASF while the firm's competitive advantage differed in the relationships.

• 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.

• Journal of Korea Technology Innovation Society
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• v.17 no.3
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• pp.540-562
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• 2014

Although the impact of technological partner selection on the success of technological alliance is critical, little attention has been paid to the area of technological alliance partner selection criteria and the relationship between partner selection criteria and success factors of alliance. This study bridges this gap by understanding previous studies of general alliance partner selection criteria such as marketing, international, logistics and production alliances. I drew technological alliance partner selection criteria using AHP method with 12 experts who are currently in charge of technological alliance activities at Korean Venture Companies. This study found 4 criteria such as 'task-related', 'partner-related', 'learning-related', 'risk-related' criteria with 14 items and the relative importance of technological alliance partner selection showed as follows: 'risk-related', 'learning-related', 'partner-related', 'task-related' criteria. In order to test the relationship between technological partner selection criteria and performance, I used 215 survey data of Korean Venture Companies. The results showed that 'partner-related' and 'task-related' criteria had strong positive impacts on the success of technological alliance. Further, I put 4 moderating variables into the study model in order to see their moderating effects. However, no moderating variable showed significant effects. In conclusion section, I discussed the findings and implications of this study and directions for future studies.

• The Journal of Information Systems
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• v.18 no.3
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• pp.47-70
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• 2009

Social network is one of the representative analytical method of the complexity theory and this research analyzed various and unique strategic alliance model of e-business domain using social network technique. A lot of small and medium firms of e-business field had developed many useful type of strategic alliances for the firms tried to maximize the effect of advertisement, marketing and to make up for their weak points and to compete with huge company with capital strength long before. But it is too rare to analyze the structure of the firm networks and to study the evolution and extension of business model considered the role of each company in the network. Social network analysis helps each firm's network easily visualized and completely modelized. Additionally, this paper cries to analyze the relationship between the role of hub and broke in the firm networks for strategic alliance, and financial performance. We demonstrate the firm with finer business model to the business environment can make higher financial performance. This implies that the firm that can create new finer business model, will lead the network of e-business firms and evolve the industry of e-business.

• Journal of Distribution Research
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• v.10 no.3
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• pp.15-36
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• 2005

This study is concerned with selling alliance in the internet shopping services, which is generally used by portal sites in recent and that is a typical form of strategic alliance. This study tried to find the relationship between. consumer's attitude and alliance performance. The authors investigated them in the field. then searched the reasons and determinants of selling alliance performance. As a result of field investigation, the authors found that the traffic of the portal site was not proportionated to the sales of internet shopping mall and this was not consistent with general expectation, With the analysis of it, the authors found that attitudes to the sites (brands) allianced in On-line and recognition of fitting between them had influenced positively on the attitude and purchase intention to alliance services. Moreover, unlike the attitude to the portal sites, the attitude to the internet shopping mall had positively influenced directly on the purchase intention. The other hand. from the view of influence power on the attitude to the allianced shopping service, the recognition of fitting between the sites was the factor which had the least effect of all factors. Compared with Off-line, this is interesting aspect of On-line. So in the On-line selling alliance, be careful of consideration for not only prior attitudes to the partners(portal and shopping mall) but also the fitness between them and make it in the mind that the attitude to shopping mall has greater influence upon the purchase intention than that to portal site.

• Journal of Convergence for Information Technology
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• v.8 no.2
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• pp.219-225
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• 2018

The objectives of this study is to analyze the impact of open information innovation which consisted of external technology acquisition and external technology exploitation on export performance by integrating with strategic alliance factors. This study empirically analyzed six hypotheses in 201 sample using the PLS (Partial Least Square) of the structural equation model to verify the moderating effects of organizational culture on the relationship among open information innovation, strategic alliance and export performance. As a result, external technology acquisition dose not affect strategic alliances. On the other hand, external technology exploitation has a positive impact on strategic alliances. Strategic alliances also have a positive impact on export performance. As a result of the moderating effect analysis, the interaction between organizational culture and external technology acquisition has positively influenced strategic alliances. In addition, the moderating effect of organizational culture and external technology exploitation has a significant effect on strategic alliances. However, moderating effect of organizational culture and strategic alliance dose not affect export performance. This study has a contribution to the analysis of the moderating effects of organizational culture. In the future, integrated analysis of open information innovation and external factors is needed.

• Asia Marketing Journal
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• v.13 no.3
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• pp.79-102
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• 2011

Researchers in channel dyads have devoted much attention to relationship between interdependence (i.e. interdependence enymmetry and total interdependence) and conflict that promote channel performance. In social science, in spite of the inconsistent results in marketing practice, there are two contradictory theories explain the relationship between interdependence and conflict - bilateral deterrence theory and conflict spiral theory. The authors apply these theories to co-marketing alliance situation in terms that this relationship is also incorporated both company's dependence, either from one company's perspective or each partner about its respective dependence. Using survey data and archival data from 181 companies enlisted in a telecommunication membership program, the authors find out the relationship between interdependence and conflict as well as investigate the antecedents of interdependence - transaction age, transaction frequency, the numbers of alliance partner, and co-marketing alliance specific assets according to previous researches. Using PLS analysis, the authors demonstrate that, with increasing total interdependence in a telecommunication membership program, two co-marketing partners' conflict level is increased in accord with the author's conflict spiral theory predictions. As expected, higher interdependence asymmetry has negative value to level of conflict even though this result is not statistically significant. Other findings can be summarized as follows. In the perspective of telecommunication company, transaction age, transaction frequency, and co-marketing alliance specific assets have influence on its dependence on a partner as independent variables. To the contrary, in a partner's perspective, transaction frequency, co-marketing alliance specific assets and the numbers of alliance partner have significantly impact on its dependence on a telecommunication company. In direct effect analysis, it is shown that transaction age, frequency and co-marketing alliance specific assets have direct influence on conflict. This results suggest that it is more useful for a telecommunication company to select a co-marketing partner which is frequently used by customers and earned high rates of mileage. In addition, the results show that dependence of a telecommunication company on a co-marketing partner is more significantly effected to co-marketing alliance conflict than partner's one. It provide an effective conflict management strategy to a telecommunication company for controling customer's usage rate or having the co-marketing partner deposit high level of alliance specific investment (i.e. mileage). To a co-marketing partner of telecommunication company, it is required control the percentage of co-marketing sales in total sales revenue or seek various co-marketing partners in order for co-marketing conflict management. The research implications, limitation and future research of these results are discussed.

• Journal of Korea Technology Innovation Society
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• v.22 no.3
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• pp.416-445
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• 2019

This study aims at examining the relationship among entrepreneurial orientation, absorption capability, alliance capability and cooperation performance in technological cooperation between SMEs and government-funded R&D Institutes. For empirical analysis, the study conducted a survey on total 2,895 SMEs participating in the technological cooperation programs operated by government-funded R&D Institutes, and collected 332 survey responses. Data were analysed using a structural equation model. Empirical results show that entrepreneurial orientation, absorption capability, and alliance capability influenced the performance of technological cooperation. In addition, alliance capability has a significant effect on absorptive capacity. In order for the technology cooperation between SMEs and government-funded research institutes being successful, efforts are needed to secure companies' entrepreneurial orientation, absorption capability and alliance capability that has the capabilities that SMEs needs for technological cooperation.

• Journal of Distribution Science
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• v.14 no.6
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• pp.99-106
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• 2016

Purpose - The antecedent to the relationship between the effect of the characteristics of strategic alliances and the performance of container liner shipping companies has been investigated in this study as container liner shipping companies' strategic alliances. It affects positively and negatively home, partner, and the third parties' performance in container liner shipping companies. Extensive literature reviews on shipper's strategic alliances reveal that strategic alliances in financial and non-financial performance of container liner shipping companies show the performance such as economic effects, business performance, global supply chain management performance, customer satisfaction, and forward integration and backward integration performance. The purpose of this study is to test empirically that the relationship between the characteristics of strategic alliances and financial and non-financial performance in container liner shipping companies. Structured equation modeling and confirmatory factor analysis were used to test the hypothesis using AMOS statistics program. Most previous researches focused on the relationship between the characteristics of strategic alliances and alliance types. There are few empirical studies that focus on business performance data because it is difficult to collect data in container liner shipping companies. However, this research measures financial and non-financial performance differently compared with the previous researches focusing on the characteristics of strategic alliances and alliance types measurements. Research design, data, and methodology - The conceptual model for the study is based on the studies of Lim (2010), Chen & Zhen (2009), and Wang & Meng (2014). The model is built around the factors of characteristics of strategic alliances and business performance. Cost, marketing, and service factors are regarded as proxy for the characteristics of strategic alliances. The financial and non-financial performance are regarded as proxy for the performance of strategic alliances. Based on the analysis of one hundred cases such as forwarder, shipper, and liner shipping companies, this study uses structural equation modeling to verify the effects of the characteristics of strategic alliances on business performance. Conclusions - This study provides container liner shipping companies to get some policy and practical implications in terms of the characteristics of strategic alliances and business performance. First, the cost factor for alliances characteristics has a positively significant influence on the financial and non-financial performance of strategic alliances. The cost factor relationship between high and low performance group does not have a significant difference on the performance of strategic alliances. Second, the marketing factor of alliances characteristics has a positively significant influence on the financial and non-financial performance of strategic alliances. The high performance group's marketing factor has a great non-financial performance than low performance group, but the low performance group's marketing factor has a grater financial performance than high performance group factor does. Third, the service factor of alliances characteristics has a negative influence on the non-financial performance of strategic alliances. The high performance group's service factor has a great non-financial performance than low performance group. Based on the findings from this study, related implications and future avenues deserve to be discussed.