IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v87y2026ics1544612325023268.html

How does network exposure risk affect enterprises' strategic alliances?

Author

Listed:
  • Chen, Yuxin
  • Zhao, Shuwang

Abstract

This study examines the influence of network exposure risk on corporate strategic alliances, seeking to fill the gap in comprehension of how digital vulnerabilities affect inter-firm collaboration. This study examines Chinese A-share listed companies and finds that network exposure risk considerably hinders strategic collaborations through two mechanisms: diminishing partner trust and elevating transaction costs. The adverse impact is more evident in data-sensitive sectors. These findings underscore the necessity for managers to prioritize cybersecurity as a strategic facilitator of alliances and for policymakers to account for network risk spillover effects when developing digital security regulations, thereby enriching the strategic management and cybersecurity literature by establishing a causal relationship between network exposure risk and alliance dynamics.

Suggested Citation

  • Chen, Yuxin & Zhao, Shuwang, 2026. "How does network exposure risk affect enterprises' strategic alliances?," Finance Research Letters, Elsevier, vol. 87(C).
    • Handle: RePEc:eee:finlet:v:87:y:2026:i:c:s1544612325023268
    DOI: 10.1016/j.frl.2025.109077
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1544612325023268
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2025.109077?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Hao, Pu & Alharbi, Samar S. & Hunjra, Ahmed Imran & Zhao, Shikuan, 2025. "How do ESG ratings promote digital technology innovation?," International Review of Financial Analysis, Elsevier, vol. 97(C).
    2. Anna Maria Dzienis & Agnieszka McCaleb, 2024. "Motives behind Sino-Japanese strategic alliances in the new energy vehicles sector in the age of the Belt and Road Initiative," Asia Pacific Business Review, Taylor & Francis Journals, vol. 30(2), pages 274-299, March.
    3. Na Xu & Wendong Lv & Junli Wang, 2024. "The impact of digital transformation on firm performance: a perspective from enterprise risk management," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 14(2), pages 369-400, June.
    4. Xiao, Zhongyi & Li, Yuanling & Xiang, Cheng, 2025. "Do suppliers value customer firms' digital transformation? Evidence from trade credit provision," International Review of Financial Analysis, Elsevier, vol. 99(C).
    5. Abdel-Mohsen O. Mohamed & Dina Mohamed & Adham Fayad & Moza T. Al Nahyan, 2024. "Enhancing Decision Making and Decarbonation in Environmental Management: A Review on the Role of Digital Technologies," Sustainability, MDPI, vol. 16(16), pages 1-34, August.
    6. Wang, Yuhan & Hao, Jinxing & Guo, Hui & Xian, Maoyang & Liao, Qiang, 2025. "How green strategic alliances enhance green innovation: Mechanisms and evidence in China," Finance Research Letters, Elsevier, vol. 77(C).
    7. Bucher, Jana & Lazarova, Mila & Deller, Jürgen, 2025. "Digital technology and global mobility: Narrative review and directions for future research," International Business Review, Elsevier, vol. 34(1).
    8. Ruan, Jia & Jiang, Ruishi, 2024. "Does digital inclusive finance affect the credit risk of commercial banks?," Finance Research Letters, Elsevier, vol. 62(PA).
    9. Lai, Xiaobing & Quan, Lei & Guo, Chong & Gao, Xing, 2025. "Exploring the digital era: Has digital technology innovation reshaped investment efficiency in Chinese enterprises?," Research in International Business and Finance, Elsevier, vol. 75(C).
    10. Iurkov, Viacheslav & Koval, Mariia & Misra, Shekhar & Pedada, Kiran & Sinha, Ashish, 2024. "Impact of ESG distinctiveness in alliances on shareholder value," Journal of Business Research, Elsevier, vol. 171(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Niu, Niu & Zhang, Bin & Song, Yanwu & Boateng, Agyenim, 2025. "Climate policy uncertainty and ESG performance of energy firms: The moderating effect of cloud computing technology," International Review of Financial Analysis, Elsevier, vol. 108(PA).
    2. Qiao, Chengzhi & Chen, Shan, 2026. "How do extreme climate can drive commercial banks' credit disbursement?," International Review of Financial Analysis, Elsevier, vol. 110(C).
    3. Ruanzhou, Yilong & Guo, Rengui, 2025. "New quality productivity and intellectual property protection," Finance Research Letters, Elsevier, vol. 83(C).
    4. Xu, Yanan & Feng, Zhuzhu & Troise, Ciro, 2026. "Industry-finance cooperation and digital innovation: evidence from China’s pilot city policy," Finance Research Letters, Elsevier, vol. 89(C).
    5. Shang, Ke & Zhu, Shengliang, 2025. "Digital Watchdogs: How smart tax surveillance reshapes corporate cost behavior," Finance Research Letters, Elsevier, vol. 86(PD).
    6. Xiaofei Jia & Lichao Lin & Ziling Huang, 2025. "Transformative forces: how capital intensity and technological innovation shape digital evolution in Chinese enterprises," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 15(4), pages 1205-1224, December.
    7. Khalid Mehmood & Nisbat Ali & Muhammad Usman & Aamir Suhail & Kehkashan Siddiqui, 2026. "Empowering sustainable entrepreneurship through data-driven innovation: A pathway to ESG performance in SMEs," International Entrepreneurship and Management Journal, Springer, vol. 22(1), pages 1-25, March.
    8. Xiaoya Xie & Yu Zhang, 2024. "Transformation Through Servitization: How Buffer Resources and Social Capital Support Transformation in Manufacturing Companies," Sustainability, MDPI, vol. 16(23), pages 1-24, December.
    9. Yi WANG & Yiting XU & Yufei ZHONG, 2025. "Does Artificial Intelligence Invariably Enhance ESG Performance?," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 24-40, July.
    10. Yang, Gang & Yuan, Gongming & Kou, Junhao & Jiau, Shyhyan, 2025. "Impact of inclusive finance on private enterprise Lending: Evidence from China private enterprise survey," International Review of Economics & Finance, Elsevier, vol. 101(C).
    11. Nathalie Greenan & Dario Guarascio & Jelena Reljic, 2025. "AI and the labour market: opening the black box," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 15(4), pages 925-951, December.
    12. repec:ers:journl:v:xxix:y:2026:i:1:p:700-719 is not listed on IDEAS
    13. Thanavutd Chutiphongdech & Paron Vongchan & Yan Zhao & Brian P. McCullough, 2026. "Sustainable sport event management through ESG: a systematic literature review," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 28(4), pages 10433-10486, April.
    14. Chen, Pengfei & Lei, Xue & Lin, Ouwen & Yuan, Yanzhe, 2025. "The impact of blockchain financial technology transformation on supply chain disruption risks," International Review of Economics & Finance, Elsevier, vol. 102(C).
    15. Jing, Li & Qianqiang, Li & Yantai, Chen & Qi, An, 2025. "How digital transformation facilitates ESG performance to heavy polluting enterprises:A panel fsQCA based on national big data comprehensive pilot zones," Technological Forecasting and Social Change, Elsevier, vol. 221(C).
    16. Wang, Gang, 2025. "How does biodiversity risk affect digital transformation? Evidence from China’s manufacturing enterprises," Finance Research Letters, Elsevier, vol. 85(PD).
    17. Gomaa Agag & Sameh Aboul-Dahab & Sherif El-Halaby & Said Abdo & Mohamed A. Khashan, 2025. "Leveraging Digitalization to Boost ESG Performance in Different Business Contexts," Sustainability, MDPI, vol. 17(15), pages 1-31, July.
    18. Wu, Shan & Zou, Mengqi & Jin, Tongen, 2025. "Data element marketization and corporate investment efficiency: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    19. Zhao, Rui & Wang, Dandan & Cao, Ping & Cui, Hui & Wang, Na & Zhao, Ming & Zhang, Yingjie, 2026. "Internal control quality, supply chain risk perception, and corporate risk-taking," International Review of Financial Analysis, Elsevier, vol. 110(C).
    20. Zheng, Dawei & Wang, Tingdong, 2025. "Do industrial robot applications upgrade the global value chain position? Empirical evidence from China," International Review of Economics & Finance, Elsevier, vol. 99(C).
    21. You, Wanhai & You, Bingbing & Guo, Yawei, 2025. "Can big data development drive green technology innovation? The spillover role of supply chain partners," Energy Economics, Elsevier, vol. 150(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:87:y:2026:i:c:s1544612325023268. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.