We investigate what kind of employment contract must be offered to the manager (agent) of a company by the owner (principal) in the case of strategic alliance formation by taking into consideration their industry life cycles. Agency problem may arise between managers and principals because...

Although alliance studies have generally favored an ambidextrous approach between exploration and exploitation, they tend to overlook a firm's characteristics, its industry constraints, or the dynamic network in which the firm is embedded. This study examines the ambidexterity hypothesis and its...