Strategic AlliancesAlthough some theorists suggest that the resource-based view may be a new theory of the firm, it is still part of a developing paradigm in strategy research (Amit & Schoemaker, 1993; Barney, 1991 Conner, 1991; The usefulness and richness of the paradigm must be demonstrated in a variety of strategic areas accumulation phase of applications of the resource-based view. For example, Peteraf (1993) shows that sustainable differences in corporate profitability that cannot be attributed to industrial differences can be better explained by the resource-based view diversification is also improved because the resource-based view strongly supports strategic correlation within a conglomerate (Chatterjee & Wernerfelt, 1991) examined M&A performance through a resource-based perspective. Global strategy, technology strategy, and strategic regulation have also been studied applying the resource-based view (Collis, 1991; Leonard-Barton, 1992; Maijoor & Van Witteloostuijn, 1996). One area that remains underexplored in the literature is the resource-based view of strategic alliances, even though such alliances are rapidly increasing in importance in today's competitive landscape (Das & Teng, in press; Doz & Hamel, 1998; Gomes-Casseres, 1996 ; A resource-based view seems particularly appropriate for examining strategic alliances because firms essentially use alliances to gain access to other firms' valuable resources basis relevant to the study of alliances. The few studies that have applied the resource-based perspective to strategic alliances cover only limited aspects (e.g., Blodgett, 1991; Eisenhardt & Schoonhoven, 1996; Kogut, 1988; Mowery, Oxley, & Silverman). , 1998; Rouse & Daellenbach, 1999; Tyler & Steensma, 1995, 1998; Cunningham, 1995). Focusing exclusively on the resource-based view of strategic alliances, Eisenhardt and Schoonhoven (1996) essentially found that alliances are more likely to form when both firms are in vulnerable strategic positions (i.e. in need of resources). ) or when I'm in trouble. strong social positions (i.e. possessing valuable resources to share). Other researchers have addressed only selected aspects of alliances, such as organizational knowledge (Kogut, 1988) and international business (Blodgett, 1991; Lyles & Salk, 1997). Therefore, a general resource-based theory of strategic alliances has yet to emerge. Our aim here is to develop a more comprehensive resource-based theory of strategic alliances than is available in the existing literature.