Real Options in International Joint Ventures  

Oleh:

Reuer, Jeffrey J. ; Tong, Tony W.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: JOM: Journal of Management vol. 31 no. 6 (Dec. 2005), page 403-423.
Topik: joint venture; real options theory; transaction cost economics; contracts; international joint ventures; strategic alliances
Fulltext: 403.pdf (155.62KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ92.8 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This article empirically investigates the determinants of firms’ use of explicit call options to acquire equity in their international joint ventures (IJVs). Such options are an important contractual element of IJVs because they allow a firm to secure a claim on future expansion opportunities and to safeguard itself against various exchange hazards. The authors therefore draw on real options and transaction cost arguments, respectively, to develop hypotheses on the circumstances under which firms use such options. The article underscores the importance of studying the design of alliances in finer grained terms and helps refine the application of real options theory in the alliance context.

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