“…In contrast to the dearth of research on co‐branding, complementary research has investigated performance of mergers and alliances for decades (Dewing, ; King et al., ; Kitching, ). The frequent observation that alliances lead to inferior results has prompted researchers to consider the extent to which interpersonal processes contribute to postmerger performance (Fery, Loomba, Marks, Odell, & Vance, ; Jemison & Sitkin, ). Prior research (e.g., Chatterjee, Lubatkin, Schweiger, & Weber, ; Very, Lubatkin, Calori, & Veiga, ) underscores the need to examine influences of interpersonal interaction on alliances, yet the great majority of studies do not consider how strategic action by the franchisor influences franchisee performance.…”