The effect of alliance experience and intellectual capital on the value creation of international strategic alliances

Shao Chi Chang, Sheng Syan Chen, Jung Ho Lai

Research output: Contribution to journalArticle

48 Citations (Scopus)


This paper investigates the effects of intellectual capital (IC), alliance experience and their interaction on the value creation of international strategic alliances (ISAs). Based on a sample of ISAs formed by US firms, we find that firms with a higher level of IC receive greater announcement-period wealth gains. In addition, the empirical results suggest experience positively enhances the wealth effect of ISAs. Finally, we find a significant positive interaction effect between experience and IC on the wealth creation of ISAs. The results demonstrate the importance of considering the joint effects of IC and experience in assessing the value creation of ISAs.

Original languageEnglish
Pages (from-to)298-316
Number of pages19
Issue number2
Publication statusPublished - 2008 Apr 1


All Science Journal Classification (ASJC) codes

  • Strategy and Management
  • Management Science and Operations Research
  • Information Systems and Management

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