Alliance orientation: Conceptualization, measurement, and impact on market performance

Interfirm collaborations have inspired a rich literature in marketing and strategy during the past two decades. Building on this extant work, the authors developed a new construct, alliance orientation, and explored its influence on firms’ alliance network performance and market performance. The authors drew on data collected from 182 U.S. firms with extensive experience informing, developing, and managing strategic alliances in marketing, new product development, distribution, technology, and manufacturing projects. Using structural equations modeling, the authors demonstrate that alliance orientation significantly affects alliance network performance, which in turn enhances market performance. The findings also suggest that market turbulence exerts a significant moderating influence on the relationship between alliance orientation and alliance network performance, whereas the moderating role of technological turbulence on that relationship does not appear to be significant. The study provides evidence that firms’ alliance orientations positively affect their performance in strengthening their alliance network relationships and in managing conflicts with their alliance partners. Destan Kandemir (kandemir@msn.edu) is a research associate in Center for International Business Education and Research at Michigan State University. She earned her PhD in marketing and international business from Michigan State University. Her articles have appeared in theJournal of Business and Industrial Marketing, Industrial Marketing Management, theJournal of International Marketing, and theJournal of Management. Her research interests include firm resources and capabilities, market-oriented knowledge management, and global alliance management. Attila Yaprak (attila.yaprak@wayne.edu) is a professor of marketing and international business at Wayne State University. He received his PhD from Georgia State University. His research interests include cross-national consumer behavior, global marketing strategy, and international alliances. His research has appeared in theJournal of International Business Studies, theJournal of International Marketing, theJournal of Business Research, andPolitical Psychology, among others. S. Tamer Cavusgil (cavusgil@msu.edu) is University Distinguished Faculty and the John W. Byington Endowed Chair in Global Marketing in the Department of Marketing and Supply Chain Management, Eli Broad Graduate School of Management, Michigan State University.     

A game-theoretic model of coalition formation among primates

This paper models the coalition formation process among primates as a sequential game. The population consists of individuals having distinct social ranks which is determined by the individual’s resource holding potential. Each member of the population is interested in gaining access to a food resource, either individually or via a coalition. At any given stage of the game, a player can either propose a specific coalition or he can be proposed to in order to join one. Hence, the strategy of a player consists of a sequence of decisions regarding who to propose to for the formation of a coalition and which proposals to accept or reject. We derive the preferences of the players over the various coalition structures under the assumption that the probability of a coalition to obtain the resource is given by a logistic distribution as a function of relative strengths of the players. We show that, given the primates’ strategic behavior, a variety of different coalition structures can emerge in equilibrium.      

Objective measures as a predictor of late payments by high‐risk borrowers

Manufactured homes (also known outside the US as prefabricated homes) are a viable housing option for low‐income buyers, but traditional mortgages are not available for purchase of manufactured homes because of a perception of higher risk of default among purchasers of manufactured homes. Research suggests that creditscoring models which incorporate objective data such as income, debt‐to‐income ratio and credit history result in an accurate and objective predictive tool to estimate likelihood of late payments and default among traditional home buyers. This study showed that these same models can be applied similarly to purchasers of manufactured homes. A Tobit model was developed to evaluate which factors most accurately predict default and late payment behaviour among borrowers who purchased a manufactured home. The model showed that when decomposed into the probability of making a late payment and number of late payments, credit score and income are both significant predictors in both sets of borrowers of both the probability of making a late payment and the number of late payments. The higher the credit score, the less likely the borrower is to make a late payment.     

Global Integration of Brands and New Product Development at General Motors

The rapidly globalizing marketplace reflects environmental characteristics requiring the development of unique capabilities that enable the firm to create competitive advantages. Correspondingly, this study addresses challenges faced by managers in a large company with a broad global footprint as it integrates the product development process and the portfolio of brands across geographic markets. In a global organization, the unique dynamic capabilities that need to be developed include a global orientation, global market knowledge competencies, and global coordination. The present study considers these capabilities with respect to process, position, and evolutionary history of the firm and its brands. Qualitative research methodology is employed to explore the phenomenon of moving products and brands from multidomestic to global. The findings indicate the structure of a global brand portfolio evolves through complex interactions among new product development, marketing, and brand management. Overall, the organization's current positions and past history form the basis of the ways routines, practices, and means of learning are combined and coordinated to implement product decisions that support brand objectives.     

Institutional cross-ownership,heterogeneous incentives,and negative premium mergers

Review of Quantitative Finance and Accounting - Cross-owners, investors who have stakes in both the acquiring and target firms, are likely to focus on the total portfolio wealth effects from...     

Not all shadow banking is bad! Evidence from credit intermediation of non-financial Chinese firms

Review of Quantitative Finance and Accounting - Using data from 2009 to 2016 data, we investigate the relation between leverage and investment in listed firms in China against the backdrop of...     

Organizational slack as an enabler of internationalization: The case of large Brazilian firms

In this paper, we address an empirical puzzle. We note that a deliberate and serious drive to internationalize has occurred rather late in the evolution of large Brazilian firms. Meanwhile, and despite their late internationalization, these Brazilian firms expanded rapidly and intently. Despite the rich literature on Emerging Market Multinational Enterprises (EMNEs), there is still much contention on what drives rapid EMNE internationalization, particularly for the less explored firms from Latin America. Using an inductive case study of five leading Brazilian MNEs, we bring new insights on this neglected question. We unveil that the existence of organizational slack (of operational, managerial, and financial nature) can indeed facilitate rapid internationalization, particularly when triggered by unique home country conditions (e.g., regulation; rising cost of doing business at home; exhaustion of profitable growth opportunities in the domestic market).     

Mass Media Advertising in a Developing Country

This paper examines mass media advertising in the developing country of Morocco, with a special reference to the relevance of standardized versus localized advertising strategies. The advertising infrastructure is described, highlighting strengths and weaknesses of local advertising agencies. Advertising budgets are discussed according to size and type of company, before presenting a detailed assessment of the advertising media. Five selected campaigns serve to illustrate current advertising practices and problems. The authors conclude that knowledge of the local environment and a willingness to address consumers in their own terms are essential for advertising effectiveness in Morocco, and recommend use of localized rather than standardized marketing strategies.     

Which eligible households get grants? Demographic correlates of receipt in South Africa

Since Apartheid, the South African government transformed and expanded the social grants system to improve the well-being of its vulnerable populations. Despite increased efforts, a sub-section of the grant-eligible population is not reached. Too little is known about the factors that contribute to grant receipt, especially for the household as a whole. This article examines the household and community characteristics associated with grant receipt among poor households in KwaZulu-Natal. We add to previous work by assessing grant receipt at the household level, examining receipt of the two major grants and analysing correlates in a multivariate framework. While associations with grant receipt are complex and varied, we find higher grant receipt (especially the Child Support Grant) among more disadvantaged households. We also find that characteristics across multiple domains are needed to best distinguish household grant receipt. We discuss theoretical implications for models of grant receipt and practical implications for improving grant access.