摘要：企业联盟关系风险的研究始于上个世纪九十年代，Das & Teng两位学者创造性地把联盟风险概括归纳为关系风险和绩效风险，其中关系风险特指联盟伙伴可能的可能机会主义行为或是对联盟缺乏忠诚而造成的潜在损失。本文在国内外学者研究的基础上，细化分析联盟关系风险的生成机制，演绎出联盟不同阶段关系风险的差异。同时，在此分析框架的基础上，具体分析了“达娃联盟”的关系风险，由此给出了联盟关系风险的一些启示。

Abstract: Research on the relational risk of strategic alliances started in the 90s last century when two scholars Das & Teng creatively proposed the concept of relational risk and performance risk. Relational risk is concerned with the probability that partner firms lack commitment to the alliance and that their possible opportunistic behavior could undermine the prospects of an alliance. The generative mechanism of relational risk would be clarified on the basis of works done by researchers at home and abroad, that is, the differences between the focus and generative elements of relational risks in different phases of alliance are identified. In the meantime, the performance of Wahaha and its alliance partner Danone are studied in order to give some enlightenment.