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Capturing value from international strategic alliances : the role of due diligence
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Georgiou, Catherine (2021) Capturing value from international strategic alliances : the role of due diligence. PhD thesis, University of Warwick.
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Official URL: http://webcat.warwick.ac.uk/record=b3765530
Abstract
This thesis offers the first specific investigation into alliance due diligence. I investigate due diligence extensiveness, and the leveraging of information asymmetry reduction for value capture. Furthermore, I examine the role of institutional distance direction, by considering whether the partner is from a weaker (climbing down) or stronger (climbing up) institution. Chapter 1 explores the formation phase. Drawing on traditional IB paradigms and signalling theory, I investigate due diligence extensiveness for firms climbing down and up the institutional ladder. Additionally, I compare the institutional indictors, law and order, and corruption. Chapter 2 explores alliance management, and asks whether due diligence initiates the coordination-cooperation loop by facilitating the development of a coordination tool – the balanced scorecard, and whether this increases cooperation. Chapter 3 investigates the link between due diligence and performance by comparing the RBV which focuses on resource complementarity; with agency theory which focuses on information asymmetries reduction, and hence favours extensive due diligence.
I test my predictions on unique quantitative database of over 2000 international alliances, collected between 2001 and 2015. Chapter 1 demonstrates that due diligence is more extensive as distance increases in either direction; enabling firms climbing down to overcome the information asymmetries in the partner’s institution; and firms climbing up to overcome the information asymmetries of their home institution. I also find that law and order matters more than corruption, because alliances are contractual relationships. Chapter 2 shows that due diligence extensiveness facilitates the development of an extensive balanced scorecard, which subsequently enhances cooperation by building trust. Due diligence therefore initiates the coordination-cooperation loop. Finally, Chapter three finds a direct link between due diligence extensiveness and performance regarding non-financial and revenue-based objectives. Overall, I show that due diligence is valuable for ex ante dynamics, ex post management; and outcomes in international alliances.
Item Type: | Thesis (PhD) | ||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management K Law [LC] > K Law (General) |
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Library of Congress Subject Headings (LCSH): | Reasonable care (Law), Strategic alliances (Business), Strategic alliances (Business) -- Management, Intellectual capital, Knowledge management | ||||
Official Date: | June 2021 | ||||
Dates: |
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Institution: | University of Warwick | ||||
Theses Department: | Warwick Business School | ||||
Thesis Type: | PhD | ||||
Publication Status: | Unpublished | ||||
Supervisor(s)/Advisor: | Driffield, Nigel L. ; Zeitoun, Hossam ; Reuer, J. J. (Jeffrey J.) | ||||
Sponsors: | Economic and Social Research Council (Great Britain) | ||||
Format of File: | |||||
Extent: | 128 leaves : illustrations | ||||
Language: | eng |
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