Alliance Dynamics for Entrepreneurial Firms

22 Pages Posted: 11 Jan 2008

See all articles by Africa M. Arino

Africa M. Arino

University of Navarra, IESE Business School

Roberto Ragozzino

University of Liverpool; University of Tennessee

Jeffrey J. Reuer

Purdue University - Krannert School of Management


Small firms are thought to encounter various difficulties implementing strategic alliances. Due to these problems, they may be less able to reap the benefits of alliance adaptation, and the changes that do occur in alliances may not coincide with a small firm's interests. The evidence we present on contractual renegotiations in alliances suggests that small firms are no more or less likely to adjust their alliances contracts in general. However, small firms tend to bear inefficiencies of two kinds in their collaborations. First, they are less likely to adapt alliances in the presence of governance misalignments. Second, our sampled small firms were more prone to make transaction-specific investments, which can stimulate ex post hold-up in the form of contractual renegotiations.

Suggested Citation

Ariño, Africa M. and Ragozzino, Roberto and Reuer, Jeffrey J., Alliance Dynamics for Entrepreneurial Firms. Journal of Management Studies, Vol. 45, Issue 1, pp. 147-168, January 2008. Available at SSRN: or

Africa M. Ariño (Contact Author)

University of Navarra, IESE Business School ( email )

Avenida Pearson 21
Barcelona, 08034

Roberto Ragozzino

University of Liverpool ( email )

Chatham Street
Liverpool, L69 7ZA
United Kingdom

HOME PAGE: http://

University of Tennessee ( email )

The Boyd Center for Business and Economic Research
Knoxville, TN 37996
United States


Jeffrey J. Reuer

Purdue University - Krannert School of Management ( email )

1310 Krannert Building
West Lafayette, IN 47907-1310
United States

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