Contractual Renegotiations in Strategic Alliances
研究了战略联盟中合同重新谈判的发生率和前因，发现治理结构与交易特征不匹配、资产专用性、合同保障不足及母公司战略变化都会促使合同修改，而跨境联盟与国内联盟无显著差异。
This study provides an empirical investigation of the incidence and antecedents of contractual renegotiations in strategic alliances. We bring together initial conditions based on transaction cost theory and ex post contingencies highlighted by recent conceptual and qualitative research on the evolution of collaborative agreements. The results indicate that firms tend to change the governance of alliances when a misalignment exists between the chosen governance structure and features of the transaction. Further, we find that asset specificity affects alliance design as well as post-formation governance decisions. Contractual alterations are also more likely when firms employ less extensive contractual safeguards in their alliances and when a parent firm’s strategy changes. We find no evidence that cross-border alliances are any more or less likely to experience contractual renegotiations than domestic alliances.