Value Creation and the Alliance Experiences of Dutch Companies
Sleuwaegen, Leo Schep, Krijn Hartog, Gijs den Commandeur, Harry
Sleuwaegen, Leo
Schep, Krijn
Hartog, Gijs den
Commandeur, Harry
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2003-12
Journal
Long Range Planning
Book
Publication Volume
36
Publication Issue
6
Publication Begin page
533
Publication End page
542
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Abstract
This paper examines the effect on the market valuation of large Dutch companies following the announcements of international strategic alliances during the period 1985–1992. The effects are distinguished by type of alliance and country of origin of the partnering firms. While international strategic alliances are generally found to have a positive effect on a company’s market value, strategically and culturally distant foreign partners generate a strong negative effect. The results underscore the importance of conducting a strategic, operational and cultural audit of the partnering companies and the envisaged partnership. The audit needs to be taken as a starting point in developing the essential co-operation skills to make the alliance work and should become integrated within a comprehensive performance scorecard.
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Keywords
3501 Accounting, Auditing and Accountability, 35 Commerce, Management, Tourism and Services, 3507 Strategy, Management and Organisational Behaviour