Academic Journal
Breaking Up to Move Forward: The Value Gains of Alliance Terminations.
| Τίτλος: | Breaking Up to Move Forward: The Value Gains of Alliance Terminations. |
|---|---|
| Συγγραφείς: | Koval, Mariia (AUTHOR) m.koval@ieseg.fr, Iurkov, Viacheslav (AUTHOR), Wuyts, Stefan (AUTHOR) |
| Πηγή: | Journal of Marketing. Nov2026, Vol. 90 Issue 6, p48-68. 21p. |
| Θεματικοί όροι: | *Strategic alliances (Business), *Marketing research, *Portfolio diversification, *Resource allocation, *Economic competition, *Stockbrokers, *Macroeconomics, *Financial risk |
| Περίληψη: | Prior alliance research in marketing has largely focused on factors that enhance alliance stability. Yet alliance terminations can also be valuable, in that they are intricately linked with firms' strategies to (re)allocate resources to create financial value. The basic premise of this study is that an alliance termination increases firm value when investors interpret it as the firm's intention to reallocate resources toward more promising market opportunities. The key question is how investors arrive at that interpretation. Prior literature suggests that the diversity of a firm's alliance portfolio informs investors about its resource (re)allocation strategy. This argument relies on three assumptions: (1) firms face uncertainty, (2) resources invested in the terminated alliance are redeployable, and (3) the diverse alliance portfolio offers resource reallocation opportunities. These assumptions form the basis for the development of a contingency framework. Moderators are identified to capture (1) firms' competitive environment and exposure to macroeconomic risk, (2) the fungible nature versus alliance-specificity of resources invested in the terminated alliance, and (3) efficiency and overlap with other alliances in the portfolio. An event study of 427 firm-alliance termination announcements during 1985–2020 supports the predictions. The combined findings shed new light on alliance terminations, contributing to marketing theory and practice. [ABSTRACT FROM AUTHOR] |
| Copyright of Journal of Marketing is the property of American Marketing Association and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Βάση Δεδομένων: | Business Source Index |
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| Items | – Name: Title Label: Title Group: Ti Data: Breaking Up to Move Forward: The Value Gains of Alliance Terminations. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Koval%2C+Mariia%22">Koval, Mariia</searchLink> (AUTHOR)<i> m.koval@ieseg.fr</i><br /><searchLink fieldCode="AR" term="%22Iurkov%2C+Viacheslav%22">Iurkov, Viacheslav</searchLink> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Wuyts%2C+Stefan%22">Wuyts, Stefan</searchLink> (AUTHOR) – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Journal+of+Marketing%22">Journal of Marketing</searchLink>. Nov2026, Vol. 90 Issue 6, p48-68. 21p. – Name: Subject Label: Subject Terms Group: Su Data: *<searchLink fieldCode="DE" term="%22Strategic+alliances+%28Business%29%22">Strategic alliances (Business)</searchLink><br />*<searchLink fieldCode="DE" term="%22Marketing+research%22">Marketing research</searchLink><br />*<searchLink fieldCode="DE" term="%22Portfolio+diversification%22">Portfolio diversification</searchLink><br />*<searchLink fieldCode="DE" term="%22Resource+allocation%22">Resource allocation</searchLink><br />*<searchLink fieldCode="DE" term="%22Economic+competition%22">Economic competition</searchLink><br />*<searchLink fieldCode="DE" term="%22Stockbrokers%22">Stockbrokers</searchLink><br />*<searchLink fieldCode="DE" term="%22Macroeconomics%22">Macroeconomics</searchLink><br />*<searchLink fieldCode="DE" term="%22Financial+risk%22">Financial risk</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: Prior alliance research in marketing has largely focused on factors that enhance alliance stability. Yet alliance terminations can also be valuable, in that they are intricately linked with firms' strategies to (re)allocate resources to create financial value. The basic premise of this study is that an alliance termination increases firm value when investors interpret it as the firm's intention to reallocate resources toward more promising market opportunities. The key question is how investors arrive at that interpretation. Prior literature suggests that the diversity of a firm's alliance portfolio informs investors about its resource (re)allocation strategy. This argument relies on three assumptions: (1) firms face uncertainty, (2) resources invested in the terminated alliance are redeployable, and (3) the diverse alliance portfolio offers resource reallocation opportunities. These assumptions form the basis for the development of a contingency framework. Moderators are identified to capture (1) firms' competitive environment and exposure to macroeconomic risk, (2) the fungible nature versus alliance-specificity of resources invested in the terminated alliance, and (3) efficiency and overlap with other alliances in the portfolio. An event study of 427 firm-alliance termination announcements during 1985–2020 supports the predictions. The combined findings shed new light on alliance terminations, contributing to marketing theory and practice. [ABSTRACT FROM AUTHOR] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Journal of Marketing is the property of American Marketing Association and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
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| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1177/00222429251364737 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 21 StartPage: 48 Subjects: – SubjectFull: Strategic alliances (Business) Type: general – SubjectFull: Marketing research Type: general – SubjectFull: Portfolio diversification Type: general – SubjectFull: Resource allocation Type: general – SubjectFull: Economic competition Type: general – SubjectFull: Stockbrokers Type: general – SubjectFull: Macroeconomics Type: general – SubjectFull: Financial risk Type: general Titles: – TitleFull: Breaking Up to Move Forward: The Value Gains of Alliance Terminations. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Koval, Mariia – PersonEntity: Name: NameFull: Iurkov, Viacheslav – PersonEntity: Name: NameFull: Wuyts, Stefan IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 11 Text: Nov2026 Type: published Y: 2026 Identifiers: – Type: issn-print Value: 00222429 Numbering: – Type: volume Value: 90 – Type: issue Value: 6 Titles: – TitleFull: Journal of Marketing Type: main |
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