Equity alliances,stages of product development,and alliance instability |
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| Institution: | 1. Queen Mary University of London, School of Business and Management, London E1 4NS, United Kingdom;2. Ilmenau University of Technology, Department of Marketing, Langewiesener Strasse 22, 98693 Ilmenau, Germany;1. Dept. of Commerce and Business, Rhodes College, Memphis, TN, United States;2. Dept. of Marketing, Western Michigan University, Kalamazoo, MI, United States |
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| Abstract: | The purpose of this research is to analyze the stability of strategic alliances initiated at different stages of the new product development process and to determine the appropriateness of different governance structures (e.g., joint ventures, minority equity alliances, non-equity alliances). Specifically, we argue that the minority equity form of alliance is an inherently unstable structure for product development partnerships. Key findings of this study are: (a) minority equity alliances are more likely to be terminated within 5 years than joint ventures and non-equity alliances, (b) alliances are more likely to be terminated if they are initiated in the early and late stages of product development and less likely to be terminated if they are initiated in the mid-stages of product development, and (c) alliances are more likely to become acquisitions if they are initiated in the mid-stages of product development and less likely to become acquisitions if they are initiated in the early and late stages of product development. |
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