https://scholars.lib.ntu.edu.tw/handle/123456789/631126
標題: | The wealth effect of Japanese-US strategic alliances | 作者: | Chang, Shao Chi SHENG-SYAN CHEN Lai, Jung Ho |
公開日期: | 六月-2008 | 卷: | 37 | 期: | 2 | 起(迄)頁: | 271-301 | 來源出版物: | Financial Management | 摘要: | We investigate the wealth impact for Japanese and US firms that announce nonequity strategic alliances. We find that on average, both Japanese and US shareholders benefit from the formation of international alliances. We also find that shareholders earn larger abnormal returns in these alliances when the partnering firms are relatively small in size, have higher growth opportunities, or are less profitable. We show that both Japanese and US partnering firms display significant improvements in operating performance over the three-year period subsequent to the formation of international alliances. |
URI: | https://scholars.lib.ntu.edu.tw/handle/123456789/631126 | ISSN: | 00463892 | DOI: | 10.1111/j.1755-053X.2008.00013.x |
顯示於: | 財務金融學系 |
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