Inertia and evaluation mechanisms in interorganizational partner selection: Syndicate formation among US investment banks

• 成果类型: Article
• 署名作者: Li, SX; Rowley, TJ
• 署名单位: University of Alberta; University of Toronto
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/3069427
• 发表日期: 2002
• 页码: 1104-1119
• 关键词: social-structure; networks; COMPETITION; alliances; DYNAMICS; performance; allocation; EVOLUTION; patterns; exchange

摘要

Past studies have consistently shown that firms favor past partners when forming new alliances. This behavior has been associated with a need to have knowledge of potential partners' capabilities and reliability. We consider inertia as an alternative rationale. Inertia and evaluation factors were tested in the context of underwriting syndicate formations in the U.S. investment banking industry. The results suggest both inertia and several evaluation criteria, including reciprocity, experience, and prior performance, influence partner selection.