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The purpose of this paper is to study the mechanism through which decisions on the preferred governance mode of strategic technology alliances are made at the firm level.

The author constructed a value‐mediated governance model that is empirically tested through a survey of 57 strategic alliances in the Greek wireless services industry and estimated through a Structural Equation Modeling technique, namely Partial Least Squares.

Quasi‐hierarchy governance modes are preferred by firms assessing their current value as high, and lacking fear of partners' opportunistic behavior. Quasi‐market alliances are preferred by firms having high expectations for the future value of the alliance, and facing high endogenous uncertainty resulting from the existence of a competitive relationship with the partner.

While the resource and …