Title: A study of shareholder reaction to technology motivated joint ventures and strategic alliances: strategic and financial perspectives

Authors: Bianca Piachaud, Elisa Muresan

Addresses: 10 South Grange, Clyst Health Exeter, Devon EX2 7EY, UK. ' The School of Business, Long Island University, 1 University Plaza, H700 Brooklyn, NY 11201, USA

Abstract: This paper empirically examines the market reaction to the creation of joint ventures and strategic alliances in general, and to technology motivated joint ventures and strategic alliances, within the British manufacturing industry during the 1994–1999 period. More specifically, the study will examine the motivations for inter-firm linkages and partnership choice from both the strategic management and financial management perspectives. Although the empirical results are mixed in terms of the hypotheses tested, they are consistent with the theoretical arguments presented in strategic management literature.

Keywords: joint venture; strategic alliance; technology partnerships; collaboration; market performance; event study.

DOI: 10.1504/IJTM.2004.004271

International Journal of Technology Management, 2004 Vol.27 No.4, pp.343 - 356

Published online: 10 May 2004 *

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