The purpose of this study is to investigate the influences of transaction information and reputation about alliance partner on opportunism and alliance performance. In this study, a structural model and several hypotheses were developed regarding the relationships between transaction term, transaction records, reputation of alliance partner, opportunism, and alliance performance. Based on the collected data, the structural model was analyzed with Lisrel 8.12. The results can be summarized as follows. First, the longer the transaction term, the lower the opportunism and the higher the perceived alliance performances. Second, the better the transaction records, the lower the opportunism and the higher the perceived alliance performances. Third, the reputation of alliance partner company has not any influence on the opportunism and the perceived alliance performances. Finally, the lower the opportunism of alliance partner, the higher the perceived alliance performances. At the end of the paper, managerial implications and future research directions are discussed.