Theoretical perspectives of strategic alliances: A literature review and an integrative framework

This paper aims to comment on the rationale of strategic alliances. A number of theoretical approaches shown in the mainstream literature, including transaction cost economics, resource-based view, and knowledge-based view, are reviewed and analysed. The results show that none of the three perspectives can provide a complete explanation for alliance formation and management. The paper thus proposes an integrative framework for organising the literature on the alternative perspectives of strategic alliances. The foregoing three perspectives, as well as organisational learning and innovation theories, are integrated to provide a more thorough understanding for the evolving complex phenomenon of strategic alliances.