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Summary Dyer, J. H., Singh, H., & Hesterly, W. S. (2018). The relational view revisited: A dynamic perspective on value creation and value capture. Strategic Management Journal, 39(12), .$4.06
Summary Dyer, J. H., Singh, H., & Hesterly, W. S. (2018). The relational view revisited: A dynamic perspective on value creation and value capture. Strategic Management Journal, 39(12), .
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Course
International Strategic Alliances (EBM090A05)
Institution
Rijksuniversiteit Groningen (RuG)
Extensive summary of the article: Dyer, J. H., Singh, H., & Hesterly, W. S. (2018). The relational view revisited: A dynamic perspective on value creation and value capture. Strategic Management Journal, 39(12), . Easy to follow and including all key messages.
The relational view revisited: A dynamic perspective on value
creation and value capture. Dyer J.H., Singh H. & Hesterly W.S.,
2018.
Introduction
- The original relational view model was a static model that did not consider how cooperation,
value creation, and value capture unfold over time. A dynamic lens is critical because it pro-
vides greater insight into understanding both what drives cooperation for value creation and
what leads to competition for value capture.
- In this paper we propose that these inconsistent and paradoxical empirical results can be
reconciled by examining value creation and value capture in alliances using a dynamic lens.
- The primary objective of this paper is to dynamically consider how cooperation (actions for
value creation) and competition (actions for value capture) evolve over time in alliance
relationships.
- Propose that complementary resources—and the interdependence of those resources—
stands apart from the other three determinants of value creation (relation-specific assets,
knowledge sharing routines, effective governance)
- “Complementary resources” is a state variable that provides the potential for value creation
whereas the other three mechanisms are instrumental (and typically coevolve) in the process
of realizing this potential.
- Moreover, the degree of interdependence between the complementary resources of
partners influences all aspects of the dynamics of value creation, from the relation-specific
investments that partners make, to the governance mechanisms chosen, to the actual
pattern of alliance value creation—with low interdependence leading to a U-shaped value-
creation pattern and high interdependence leading to an S-shaped pattern.
2. relational view: refining the original model with evolutionary lens
, - The original relational view model, depicted in Figure 1, suggests complementary resources,
relation-specific assets (RSA), knowledge-sharing routines (KSR), and effective governance as
sources of value creation.
- First, firms begin the alliance partner search process by assessing whether a potential partner
has complementary resources.
- Thus, complementary resources as a driver of cooperation typically precedes the other
three determinants of value creation at the alliance formation stage.
- The perception that another firm has complementary resources creates the incentive to
invest in RSA and knowledge-sharing routines KSR
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