Effect of Equity Ownership on The Survival of International Joint Ventures  

Oleh:

Dhanaraj, Charles ; Beamish, Paul W.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 25 no. 3 (Mar. 2004), page 295-305.
Topik: joint venture; international joint ventures; equity ownership; mortality; survival; stability

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.14 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This note extends transaction cost analysis of international joint ventures (IJVs) to include explicitly the effect of equity. It challenges the common practice of treating all foreign investments with between 5 percent and 05 percent equity as IJVs. A fine - grained analysis of the role of foreign equity ownership on the survival of 12, 984 overseas subsidiaries confirms a declining nonlinear and asymmetrical relationship between equity and mortality in overseas subsidiaries. While investments involving small ownership levels (< 20%) have very high mortality rates, thise with high ownership levels (> 80%) have mortality rates comparable to that of wholly owned subsidiaries. Implications for research, practices and policy are discussed.

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