Country-governance quality and signals in the alliance formation process: a meta-analytic approach Online publication date: Fri, 14-Jan-2022
by Oliver Rossmannek; Felix Bosch; Katharina Fink
International Journal of Business Environment (IJBE), Vol. 13, No. 1, 2022
Abstract: This meta-analysis examines how signals in the alliance formation process affect alliance network centrality. In the hypotheses, it is argued that the age of a firm and its technical capital help to increase its attractiveness and therefore its centrality. However, the value of signals in the alliance formation process is dependent on the quality of a firm's home country-governance (e.g., level of property protection or degree of corruption). The age of a firm represents a signal of trust, which is more important in countries with a low governance quality. In contrast, the technical capital of a firm signals an attractive resource endowment, which is more important in high governance countries. Overall, hypotheses are supported (in a meta-analysis of 85 independent studies). The study contributes to the literature by showing how home country institutions have severe effects on alliance strategies and the behaviour of multinational firms.
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