Arms Race or Détente? How Interfirm Alliance Announcements Change the Stock Market Valuation of Rivals
Published Online:1 Jun 2009https://doi.org/10.1287/mnsc.1090.1022
References
- Collaboration networks, structural holes, and innovation: A longitudinal study. Admin. Sci. Quart. (2000) 45(3):425–457Crossref, Google Scholar
- Do companies learn to create value? Strategic Management J. (2000) 21(3):295–316Crossref, Google Scholar
- An event study approach to measuring innovative output: The case of biotechnology. Amer. Econom. Rev. (1993) 83(2):253–258Google Scholar
- Joint ventures, competition and technological complementarities: Evidence from chemicals. Southern Econom. J. (1977) 43(3):1330–1337Crossref, Google Scholar
- Impacts of domestic joint ventures on industrial rates of return: A pooled cross-section analysis, 1964–1975. Rev. Econom. Statist. (1981) 63(2):293–298Crossref, Google Scholar
- Joint Venture Strategies and Corporate Innovation (1982) (Oelgeschlager, Gunn and Hain, Cambridge, MA) Google Scholar
- Do strategic alliances create value? J. Financial Econom. (1997) 46(2):199–221Crossref, Google Scholar
- The impact of horizontal mergers on rivals: Gains to be left outside a merger. (2008) . CEPR Discussion Paper 6867, Centre for Economic Policy Research, LondonGoogle Scholar
- Absorptive capacity: A new perspective on learning and innovation. Admin. Sci. Quart. (1990) 35(1):128–152Crossref, Google Scholar
- , Contractor F. J., Lorange P. Why should firms cooperate? The strategy and economics basis for cooperative ventures. Cooperative Strategies in International Business (1988) (Lexington Books, Lexington, MA) 3–28Google Scholar
- Stockholder benefits from Japanese-U.S. joint ventures. Financial Management (1991) 20(4):22–30Crossref, Google Scholar
- Impact of strategic alliances on firm valuation. Acad. Management J. (1998) 41(1):27–41Crossref, Google Scholar
- Joint ventures: What is their impact on competition? Antitrust Bull. (1962) 7:397–410Google Scholar
- Learning from competing partners: Outcomes and durations of scale and link alliances in Europe, North America and Asia. Strategic Management J. (2000) 21(2):99–126Crossref, Google Scholar
- Internationalization of corporate technology through strategic partnering: An empirical investigation. Res. Policy (1996) 25(1):1–12Crossref, Google Scholar
- The relational view: Cooperative strategy and sources of interorganizational competitive advantage. Acad. Management Rev. (1998) 23(4):660–679Crossref, Google Scholar
- Horizontal mergers, collusion and stockholder wealth. J. Financial Econom. (1983) 11(1–4):241–273Crossref, Google Scholar
- Knowledge spillovers and the assignment of R&D responsibilities to foreign subsidiaries. Strategic Management J. (2004) 25(8–9):823–845Crossref, Google Scholar
- . R&D co-practice and “reverse” knowledge integration in multinational firms. J. Internat. Bus. Stud. (2005) 36(6):676–687Crossref, Google Scholar
- Centers of excellence in multinational corporations. Strategic Management J. (2002) 23(11):997–1018Crossref, Google Scholar
- Joint subsidiaries in the iron and steel industry. Amer. Econom. Rev. (1958) 48(2):578–587Google Scholar
- Inter-firm R&D partnerships: An overview of major trends and patterns since 1960. Res. Policy (2002) 31(4):477–492Crossref, Google Scholar
- Competition for competence and inter-partner learning within international strategic alliances. Strategic Management J. (1991) 12(S1):83–103Crossref, Google Scholar
- Collaborate with your competitors—And win. Harvard Bus. Rev. (1989) 67(1):133–139Google Scholar
- Knowledge management processes and international joint ventures. Organ. Sci. (1998) 9(4):454–468Link, Google Scholar
- Alliance capability, stock market response, and long-term alliance success: The role of the alliance function. Strategic Management J. (2002) 23(8):317–343Crossref, Google Scholar
- An analysis of cooperative research and development. RAND J. Econom. (1986) 17(4):527–543Crossref, Google Scholar
- , Winston C., Baily M. N. R&D cooperation and competition. Brookings Papers on Economic Activity, Microeconomics (1990) (Brookings Institution Press, Washington, DC) 137–203Crossref, Google Scholar
- The dynamics of learning alliances: Competition, cooperation and relative scope. Strategic Management J. (1998) 19(3):193–210Crossref, Google Scholar
- Oligopolistic Reaction and Multinational Enterprise (1973) (Division of Research, Graduate School of Business Administration, Harvard University, Boston) Crossref, Google Scholar
- A note on global strategies. Strategic Management J. (1989) 10(4):383–389Crossref, Google Scholar
- Joint venture formations and stock market reactions: An assessment in the information technology sector. Acad. Management J. (1991) 34(4):869–892Crossref, Google Scholar
- Relative absorptive capacity and interorganizational learning. Strategic Management J. (1998) 19(5):461–477Crossref, Google Scholar
- Strategic Alliances: Formation, Implementation and Evolution (1992) (Blackwell, Cambridge, MA) Google Scholar
- Event studies in economics and finance. J. Econom. Literature (1997) 35(1):13–39Google Scholar
- Market value impact of joint ventures: The effect of industry information-processing load. Acad. Management J. (1995) 38(3):900–915Crossref, Google Scholar
- Corporate combinations and common stock returns: The case of joint ventures. J. Finance (1985) 40(2):519–36Crossref, Google Scholar
- Profiting from technological innovation by others: The effect of competitor patenting on firm value. Res. Policy (2006) 35(8):1222–1242Crossref, Google Scholar
- Does the value created by acquisitions, alliances and divestitures differ? (2005) . Working paper, Boston University, BostonGoogle Scholar
- The impact of intangible capital on Tobin's q in the semiconductor industry. Amer. Econom. Rev. (1993) 83(2):265–269Google Scholar
- Strategic alliances and interfirm knowledge transfer. Strategic Management J. (1996) 17(S2):77–91Crossref, Google Scholar
- , Contractor F., Lorange P. The two faces of partner-specific absorptive capacity: Learning and co-specialization in strategic alliances. Cooperative Strategies and Alliances (2002) (Elsevier, London) 291–320Google Scholar
- Mergers and market shares. Rev. Econom. Statist. (1985) 67(2):259–267Crossref, Google Scholar
- An empirical investigation of joint venture dynamics: Evidence from U.S.-Japan joint ventures. Internat. J. Indust. Organ. (1996) 14(4):521–541Crossref, Google Scholar
- Organisation for Economic Co-operation and DevelopmentOECD Information Technology Outlook 2000: ICTs, E-Commerce and the Information Economy (2000) (OECD, Paris) Google Scholar
- The scope and governance of international R&D alliances. Strategic Management J. (2004) 25(8–9):723–749Crossref, Google Scholar
- , Porter M. E. Coalitions and global strategy. Competition in Global Industries (1986) (Harvard Business School Press, Boston) 315–343Google Scholar
- From hybrids to hierarchies: Shareholder wealth effects of joint venture partner buyouts. Strategic Management J. (2001) 22(1):27–44Crossref, Google Scholar
- Asymmetric information and joint venture performance: Theory and evidence for domestic and international joint ventures. Strategic Management J. (2000) 21(1):81–88Crossref, Google Scholar
- Strategic management and economics. Strategic Management J. (1991) 12(S2):5–29Crossref, Google Scholar
- The costs of misaligned governance in R&D alliances. J. Law, Econom., Organ. (2004) 20(2):484–526Crossref, Google Scholar
- Estimated parameters as dependent variables. Amer. Econom. Rev. (1976) 66(1):178–183Google Scholar
- Asymmetry of knowledge spillovers between MNCs and host country firms. J. Internat. Bus. Stud. (2007) 38(5):764–786Crossref, Google Scholar
- Examining antitrust policy towards horizontal mergers. J. Financial Econom. (1983) 11(1–4):225–240Crossref, Google Scholar
- Competition, cooperation, and innovation—Organizational arrangements for regimes of rapid technological-progress. J. Econom. Behav. Organ. (1992) 18(1):1–25Crossref, Google Scholar
- The Theory of Industrial Organization (1988) (MIT Press, Cambridge, MA) Google Scholar
- Takeovers, Restructuring, and Corporate Governance (2004) 4th ed.(Prentice Hall, Englewood Cliffs, NJ) Prentice Hall Finance SeriesGoogle Scholar
- Economies as an antitrust defense: The welfare trade-offs. Amer. Econom. Rev. (1968) 58(1):18–36Google Scholar
- The Economic Institutions of Capitalism (1985) (Free Press, New York) Google Scholar
- Stock market reaction to strategic investment decisions. Strategic Management J. (1990) 11(5):353–363Crossref, Google Scholar

