本研究旨在檢驗企業特質與和大型企業形成聯盟的關係。承襲過去文獻在策略聯盟夥伴選擇及不對稱聯盟領域的研究，此研究假設企業的策略聯盟經驗、創新能力、機構投資人影響力及獲利能力與和大型企業形成聯盟的次數有正向關聯。本研究樣本為143間屬於汽車、通訊、電腦與軟體產業，並且在2010至2015年期間為營運狀態的企業，並採用最小平方估計法與穩健標準差對此關係進行回歸分析。實證結果顯示只有企業的策略聯盟經驗具有顯著正向的影響，其他三項特質的影響並不顯著。也就是說若經理人希望與更多大型夥伴形成聯盟關係，應宣傳該企業過去的聯盟經驗，或試圖累積更多聯盟經驗。本研究的理論貢獻在於結合聯盟夥伴選擇及不對稱聯盟領域的研究，探究企業在不對稱聯盟中選擇聯盟夥伴的條件。

This study examines the relationship between four firm characteristics and alliance formation with larger partners. Integrating literature on alliance partner selection and asymmetric alliance, this study argues that firms have greater alliance experience, innovativeness, shares owned by institutional investors and better performance are more likely to have more alliances with large partners. To analyze the relationships, I sampled 143 firms from automotive, communication, computer and software industries which are active between 2010 to 2015 and used ordinary least square method with White standard errors to estimate the parameters of regression models. Empirical results show that only alliance experience has a significant impact, while other three attributes do not show significant effects on forming alliances with larger partners. My findings imply that managers should emphasize or endeavor to accumulate their experience in alliances if they want to attract more potential larger partners to set up alliances with them. The theoretical contribution of this study is to connect the literature of strategic partner selection and that of asymmetric alliance, i.e., examining partner selection criteria in asymmetric alliance.

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