The source of abnormal returns from strategic alliance announcements
نویسندگان
چکیده
منابع مشابه
The source of abnormal returns from strategic alliance announcements
This study links together theoretical models of strategic alliances with an empirical examination of stock returns on the announcement of strategic alliances. Using a sample of 123 strategic alliance announcements, the results find strong support for the hypothesis that strategic alliance announcements generate significant positive abnormal returns on the announcement day. Although strategic al...
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Strategic alliances attempt to create a cooperative association between two or more firms to share resources such as product design, production, marketing or distribution. Alliances can be used to avoid the rigidity of some organisational forms, such as mergers and takeovers, and to gain access to knowledge and skills otherwise not available. Despite the rapid growth in the formation of allianc...
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The ongoing empirical debate about whether SRI is associated, if anything, with subpar or surpassing financial performance is characterized by a somewhat indistinct focus and the infeasibility of tapping the full potential of existing models. By indistinct focus, we mean an analysis based on an aggregation of a myriad of SRI factors that potentially affect a firm’s financial performance. The in...
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Very few studies have examined performance implications of strategic alliance announcements in the information technologies industry from a resource-based view. Furthermore, none of these studies have investigated resource congruence and alliance motive as potential sources of abnormal firm performance. This paper extends upon current resource-based literature to discover and explore linkages b...
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ژورنال
عنوان ژورنال: Pacific-Basin Finance Journal
سال: 2005
ISSN: 0927-538X
DOI: 10.1016/j.pacfin.2004.07.003