A resource-based view of strategic alliances and firm value in the electronic marketplace

Abstract

This study relies on the resource-based view to examine how alliances of e-commerce firms affect firm value in an emerging business sector Using an event study method, we investigate 272 alliances of 69 e-commerce firms. Our findings show that alliances of e-commerce firms in general have a positive effect on firm value. Unlike previous studies of alliances, we find that marketing alliances generate significantly greater firm value than technology alliances. Our results also show that alliances with other e-commerce partners do not have a significantly different effect on firm value than alliances with bricks-and-mortar partners. Implications and avenues for future research are discussed. (C) 2003 Published by Elsevier Inc.