Alliance Dynamics for Entrepreneurial Firms
研究小企业在战略联盟中面临的适应困难，发现小企业并不更少调整联盟合同，但更易因治理错配而缺乏适应，且更倾向进行专用性投资，导致事后合同重新谈判。
abstract 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.