Over an extended period during the 1990s, using long interviews with the top management of five banks and secondary data, we studied the transformation of Canadian banks. We observed how the Canadian banks have changed to take full advantage of the increased technological potential for developing and exchanging information. The failure of the “pure players” has shown that the information advantages of the Internet are not sufficient to lead to sustainable competitive advantage. Existing financial institutions can make better use of that same information flow by combining it with organizational changes that make the new information more strategically valuable. By aligning information technology and the hard elements of their organizational architecture with soft elements like reputation, cooperation, and information sharing, traditional banks have developed powerful advantages in the 1990s. Résumé Dans les années 90, nous avons utilisé des données secondaires et les longues entrevues que nous avons eues avec les hauts responsables de cinq banques pour étudier les mutations du paysage bancaire canadien. Nous nous sommes intéressé à la façon dont les banques canadiennes se sont restructurées pour pouvoir tirer le maximum d'avantages des potentialités croissantes des technologies de l'information. L'échec relatif des banques virtuelles a démontré que les avantages informationnels basés sur le réseau Internet ne suffisent pas pour donner lieu à des avantages concurrentiels durables. Las banques traditionnelles peuvent parvenir à faire un meilleur usage des mêmes flux informationnels en les combinant à des changements organisationnels qui rendent la nouvelle information plus stratégiquenient valable. En accommodant les technologies de l'information et les composantes permanentes (hard elements) de leur architecture organisationnelle avec les composantes fluctuantes (soft elements) telles que la réputation, la coopération, et la diffusion des informations, les banques traditionnelles se sont créé de puissants avantages stratégiques au cours des années 90.

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Purpose Evidence suggests that “single-market” alliances are more likely to form between firms in similar socially determined status positions. However, in international alliances, firms come from different status interfaces and foreign partners may become status competitors. Hence, the preference for partners with similar socially derived status positions in their respective markets, or status homophily, is unclear in ‘international’ partner selections. This analysis aims to better understand this issue. Design/methodology/approach This research explores status homophily in international alliance formation using a database of hand-collected tombstone announcements for US initial public offering syndicates involving Japanese securities firms from 1975 through 1984. Findings Results suggest that firms are attracted to partners who occupy similar socially derived status positions in their own home markets. Additionally, high-status host-country firms may signal status differences within alliances to reduce status competition from high-status foreign partners. Originality/value This research indicates that “international” alliance research needs to consider socially derived status positions. Additionally, academics and practitioners alike can benefit from the knowledge that status signaling within alliances can be a type of competitive behavior between cooperating firms.

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