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Competitive advantage in alliance governance: resolving the opportunism minimization-gain maximization paradox

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Author Info

  • Mark H. Hansen

    (Brigham Young University, UT, USA)

  • Robert E. Hoskisson

    (Arizona State University, AZ, USA)

  • Jay B. Barney

    (The Ohio State University, OH, USA)

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    Abstract

    This paper offers a model of alliance governance that explicitly recognizes that managers of alliances simultaneously face the objectives of maximizing gains from trade while minimizing the threat of opportunism in the transaction-an apparent paradox. Our model shows that both the gains from trade and the threat of opportunism are influenced by firm characteristics (cooperative capabilities and trustworthiness) as well as transaction attributes (information asymmetry and asset specificity). The paradox may be resolved by strong form trustworthiness combined with relationship management capabilities because these characteristics allow the pursuit of gains from trade while simultaneously limiting the threat of opportunism. Copyright © 2008 John Wiley & Sons, Ltd.

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    File URL: http://hdl.handle.net/10.1002/mde.1394
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    Bibliographic Info

    Article provided by John Wiley & Sons, Ltd. in its journal Managerial and Decision Economics.

    Volume (Year): 29 (2008)
    Issue (Month): 2-3 ()
    Pages: 191-208

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    Handle: RePEc:wly:mgtdec:v:29:y:2008:i:2-3:p:191-208

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    Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/7976

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    1. Williamson, Oliver E, 1983. "Credible Commitments: Using Hostages to Support Exchange," American Economic Review, American Economic Association, vol. 73(4), pages 519-40, September.
    2. Klein, Benjamin & Crawford, Robert G & Alchian, Armen A, 1978. "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process," Journal of Law and Economics, University of Chicago Press, vol. 21(2), pages 297-326, October.
    3. Pisano, Gary P, 1989. "Using Equity Participation to Support Exchange: Evidence from the Biotechnology Industry," Journal of Law, Economics and Organization, Oxford University Press, vol. 5(1), pages 109-26, Spring.
    4. Ingemar Dierickx & Karel Cool, 1989. "Asset Stock Accumulation and Sustainability of Competitive Advantage," Management Science, INFORMS, vol. 35(12), pages 1504-1511, December.
    5. Akerlof, George A, 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 488-500, August.
    6. Hagedoorn, John & Schakenraad, Jos, 1992. "Leading companies and networks of strategic alliances in information technologies," Research Policy, Elsevier, vol. 21(2), pages 163-190, April.
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    Cited by:
    1. Fawcett, Stanley E. & Jones, Stephen L. & Fawcett, Amydee M., 2012. "Supply chain trust: The catalyst for collaborative innovation," Business Horizons, Elsevier, vol. 55(2), pages 163-178.
    2. Nilsson, Magnus & Mattes, Jannika, 2013. "The spatiality of trust – Antecedents of trust and the role of face-to-face contacts," CIRCLE Electronic Working Papers 2013/16, Lund University, CIRCLE - Center for Innovation, Research and Competences in the Learning Economy.

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