This　paper　presents　a　theoretical　framework　for　understanding　the　evolutionary　dynamics　of　strategic　alliances.　Using　an　integrated　process　model,　we　analyze　the　conceptual　characteristics　and　antecedents　of　the　stability　of　strategic　alliances.　The　primary　purpose　of　this　study　is　to　(　1)　conceptualize　and　characterize　alliance　stability　to　fill　the　academic　gap　in　the　literature,　and　(　2)　identify　a　range　of　endogenous　factors　underlying　alliance　stability　across　four　developmental　stages　-　partner　selection,　structuring/negotiation,　implementation　and　performance　evaluation　-　so　as　to　fill　the　managerial　relevance　gap.　From　the　discussion,　we　develop　a　number　of　propositions　to　facilitate　future　empirical　testing　of　our　conceptual　model.　Finally,　we　indicate　some　key　implications　for　theoretical　research　and　managerial　practice.　(C)　2008　Elsevier　Inc.　All　rights　reserved.