Theories of alliance behavior and outcomes have tended to emphasize ei
ther partner or relationship characteristics. This study integrates th
e two perspectives and examines their separate and combined effects on
alliance outcomes. The research involved analysis of 98 alliances thr
ough a two-stage survey design. Findings support a positive relationsh
ip between partner firms' benefits hom alliance participation and part
ner reputation, shared decision making, and strategic similarities bet
ween partners.