Governance Research, Corporate Strategic Alliances

Corporate strategic alliance as a new organization of modern companies is considered by many contemporary economists as the most speedy and economical method for global strategy. This organization shatters the doctrine that there are only opposing competitions between companies,and provides a new perspective and model for companies to handle their relationships with their rivals. The circles of economics and management have paid much attention to the advent of global strategic alliance,but a large number of studies focused on defining the concept of strategic alliance, strategic alliance characteristics, strategic alliance building motivation and so on. A separate study on strategic alliance management also exists, but this study is not very thorough and has not formed a unified theoretical system yet. Meanwhile, study on strategic alliance management lack of representatives of the theory and the core point of view, there are many gaps and differences. In the rapid development of strategic alliance, the most important factor to ensure the healthy operation of strategic alliances is the strategic alliance management.Based on previous studies, documentary research and standard analysis are used in this paper to deeply study the inherent characteristics and the internal mechanism of the strategic alliance. Strategic alliance has three intrinsic characteristics, with a'market - enterprise', the network and the intermediary organizations, and thus reveal the three mechanisms in the strategic alliances organization: the price mechanism, the authority system and credit mechanisms. On the basis of intrinsic characteristics and three mechanisms, we have built the governance model of strategic alliance. According to the conclusion of the model, learning ability is the main factor affected governance structure and governance forms of strategic alliance. Article analyses governance structure of strategic alliance which contains relations among the members of strategic alliances, institutional arrangements, learning ability and the evolution of institutional arrangements in Strategic Alliance and the effect of informal system in the strategic alliances. Finally, we suggest three governance forms, such as equity alliance, non-equity alliances and joint ventures on the basis of governance structures in the strategic alliances in this paper.