Unraveling the mechanisms of reputation and alliance formation: A study of venture capital syndication in China

• 成果类型: Article
• 署名作者: Gu, Qian; Lu, Xiaohui
• 署名单位: University System of Georgia; Georgia State University; National University of Singapore
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.2117
• 发表日期: 2014
• 页码: 739-750
• 关键词: institutional development; CHINA; reputation; foreign and domestic; alliance

摘要

Extant research shows that resources are significant to a firm's choice of alliance formation. We focus on an important form of intangible resource-firm reputation-and examine how it affects a firm's propensity to form alliances. We propose an inverted U-shaped relationship between a firm's reputation and its likelihood of alliance formation, resulting from the opposing mechanisms of opportunity and need. We also examine how this relationship may vary across two contingencies: (1) foreign and domestic firms; and (2) different levels of institutional development. Empirical analyses of China's venture capital (VC) industry provide support for our hypotheses. Copyright (c) 2013 John Wiley & Sons, Ltd.