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Article
Publication date: 1 June 1991

Abbass F. Alkhafaji

The study of international business has become increasinglyimportant in recent years. So important that the American Assembly ofthe Collegiate Schools of Business (AACSB…

Abstract

The study of international business has become increasingly important in recent years. So important that the American Assembly of the Collegiate Schools of Business (AACSB) has called for the internationalisation of business curricula. In 1992 and beyond, successful business people will treat the entire world as their domain. No one country can operate in an economic vacuum. Any economic measures taken by one country can affect the global economy. This book is designed to challenge the reader to develop a global perspective of international business. Globalisation is by no means a new concept, but there are many new factors that have contributed to its recently accelerated growth. Among them, the new technologies in communication and transport that have resulted in major expansions of international trade and investment. In the future, the world market will become predominant. There are bound to be big changes in the world economy. For instance the changes in Eastern Europe and the European Community during the 1990s. With a strong knowledge base in international business, future managers will be better prepared for the new world market. This book introduces its readers to the exciting and rewarding field of international management and international corporations. It is written in contemporary, easy‐to‐understand language, avoiding abstract terminology; and is organised into five sections, each of which includes a number of chapters that cover a subject involving activities that cross national boundaries.

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Article
Publication date: 31 August 2012

B. Elango and Stephen Chen

This paper aims to examine the interaction between risk, learning and ownership decisions in international R&D joint ventures.

Abstract

Purpose

This paper aims to examine the interaction between risk, learning and ownership decisions in international R&D joint ventures.

Design/methodology/approach

The study focuses on international strategic R&D joint ventures of US firms. The sample is made up of 266 firms. Regression models are used in the testing of the hypotheses.

Findings

The authors show a clear difference between the effects of performance versus relational risks on ownership decisions in international joint ventures (IJVs). In response to performance risk, firms are less likely to pursue a majority ownership, whereas with relational risk the effect is opposite.

Originality/value

A key contribution of this paper is that it shows the effects of performance versus relational risks on ownership decisions in IJVs. Another contribution is the finding that IJV experience moderates the effects of relational risk factors on firms' ownership decisions in joint ventures. With greater joint venture experience, firms are more likely to take a non‐dominant position in response to diverse partners as they develop routines and capabilities that allow them to better manage IJV partners and minimize the risk of partner opportunism without the need for majority ownership.

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Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

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Article
Publication date: 1 March 1997

Steven Arvid Scherling and Olivia L.H. Wang

The complexity and competitiveness of global business is increasingly being managed by international strategic alliances. As a result, the two central tenets of…

Abstract

The complexity and competitiveness of global business is increasingly being managed by international strategic alliances. As a result, the two central tenets of market‐based‐capitalism, that competitive market forces ensure optimum innovation‐led growth and that individual firms can best accomplish this by competition rather than cooperation, are being re‐examined. These tenets directed management in an elaborate process of alliances control, which is now giving way to a system of control based on trust. The economic model explaining the formation of alliances and the research on joint venture alliances are discussed. This is followed by a discussion of trust and a process‐approach to trust development. Finally, a case methodology to examine evolving IJV relationships is proposed.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 9 no. 3
Type: Research Article
ISSN: 1355-5855

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Article
Publication date: 19 November 2008

Hemant Merchant

Empirical studies of the shareholder valuation impact of firms’ international joint venture (IJV) participation have usually emphasized firm‐specific factors, but rarely…

Abstract

Empirical studies of the shareholder valuation impact of firms’ international joint venture (IJV) participation have usually emphasized firm‐specific factors, but rarely extended their analysis to location‐specific factors. This is a crucial omission because the two sets of factors are interconnected vis‐a‐vis their influence on firms’ performance. Yet, previous work has neither identified how the two sets of factors complement each other nor investigated the effect of these complementarities on the shareholder value of firms who enter into IJVs. This study attempts to fill these gaps. It develops a typology of IJVs and then performs cluster analysis on a sample of 241 equity IJVs. Results indicate eight clusters in the data, including three clusters with positive shareholder value. In deriving support for its six hypotheses, the study highlights both value‐creating and value‐neutral configurations of firm‐ and location‐specific variables.

Details

Multinational Business Review, vol. 16 no. 3
Type: Research Article
ISSN: 1525-383X

Keywords

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Article
Publication date: 1 August 1998

Truong Quang, Fredric William Swierczek and Dang Thi Kim Chi

Effective leadership is a key factor in successful international joint ventures, especially in Vietnam. Compatibility and complementarity of the leadership styles are the…

Abstract

Effective leadership is a key factor in successful international joint ventures, especially in Vietnam. Compatibility and complementarity of the leadership styles are the foundation for such partnerships. Based on a research study of international managers and their Vietnamese counterparts, an appropriate profile of compatible and complementary leadership characteristics and effective skills and behaviors for successful joint ventures in Vietnam is suggested. A multi‐cultural approach with focus on the mutual understanding of the cultures involved, adapting the styles of the partners and relationship building is necessary for successful joint ventures. Building shared values in the joint venture is critical to performance, to creating an appropriate organizational culture, and to accomplishing effective organizational change.

Details

Journal of Organizational Change Management, vol. 11 no. 4
Type: Research Article
ISSN: 0953-4814

Keywords

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Book part
Publication date: 24 June 2015

Xuanli Xie, Jeffrey J. Reuer and Elko Klijn

Despite the growing interest in IJVs and their governance, systematic research is limited on the board of directors and their roles in international joint ventures in…

Abstract

Despite the growing interest in IJVs and their governance, systematic research is limited on the board of directors and their roles in international joint ventures in emerging markets. In this study, we draw from corporate governance research that suggests that the levels of control and collaboration by boards are influenced by organizational complexity. While joint ventures possess several similarities compared to unitary firms, they also have unique sources of complexity given the fact that two or more international partners collaborate within JVs under an incomplete contract. Based on a sample of 114 IJVs, we argue and show four separate conditions that influence the functions that boards undertake as well as how control and collaboration as two separate functions are interrelated. Our findings address calls for research to open the black box of what boards actually do as well as to bring corporate governance theory to new organizational forms such as joint ventures.

Details

Emerging Economies and Multinational Enterprises
Type: Book
ISBN: 978-1-78441-740-6

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Article
Publication date: 1 January 1986

Farok J. Contractor

The past three years have seen an acceleration in the rate with which companies have formed strategic partnerships with foreign firms in both the US and overseas markets…

Abstract

The past three years have seen an acceleration in the rate with which companies have formed strategic partnerships with foreign firms in both the US and overseas markets. This article examines the theoretical rationale underlying joint ventures and asks what strategic considerations lie behind their formation. Fifteen case examples of joint ventures are presented and analysed to see how the theoretical concepts fit actual situations.

Details

International Marketing Review, vol. 3 no. 1
Type: Research Article
ISSN: 0265-1335

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Article
Publication date: 5 October 2010

Qiangbing Chen, Yali Liu and Lu Jiang

The paper aims to study the impact of cultural differences on the ownership structure of international joint ventures in China. It is reasoned that foreign investors, when…

Abstract

Purpose

The paper aims to study the impact of cultural differences on the ownership structure of international joint ventures in China. It is reasoned that foreign investors, when faced with larger culture‐related investment uncertainties, may have the incentive to acquire more control rights to contain the risks by acquiring more equity shares in the joint ventures.

Design/methodology/approach

Data on international joint ventures in China were used to test the theory. The data contain 941 observations from Beijing, Shanghai, Shenzhen and Tianjing, covering a 13‐year time span. Pooled ordinary least square is used in the model estimation.

Findings

Cultural distance between China and foreign countries was found to increase the foreign equity share in the joint ventures, a finding contrary to traditional view. In addition, it was found that cultural distance in different dimensions does not play an equal role in affecting foreign equity shares. Last, there is significant evidence that the allocation of ownership between foreign and domestic investors in the joint ventures is influenced by the investor's relative importance in supplying different types of resources.

Originality/value

The paper introduces a new perspective into the study of culture and international joint venture. Foreign investors may be able to reduce investment risk by increasing equity shares, which gives them more internal control, in international joint ventures. In contrast, the traditional view is that larger cultural distance tends to discourage foreign equity ownership.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 3 no. 3
Type: Research Article
ISSN: 1754-4408

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Article
Publication date: 11 September 2007

Martin Owens and Barry Quinn

The paper aims to investigate the problems encountered in retail international joint ventures (IJVs). It synthesizes and applies transaction cost economics and strategic…

Abstract

Purpose

The paper aims to investigate the problems encountered in retail international joint ventures (IJVs). It synthesizes and applies transaction cost economics and strategic management theories to help explain the dynamics within the international retail joint venture (IRJV) process.

Design/methodology/approach

Applies a multiple case study approach based on a sample of UK‐based retailers during the retail internationalisation process.

Findings

Highlights the key problem areas encountered by retailers involved in IJV activity. Concludes that in contrast to production‐driven joint venture activity, retailers appear to have a shorter and intensive adjustment period to effectively co‐ordinate operational activity and bridge the corporate and behavioural differences between themselves and the partner.

Research limitations/implications

Focuses on a sample of UK retail companies only. Given the intensive instantiation process, a predetermined approach may be more appropriate for retail firms to avoid problematic outcomes in IJV management.

Practical implications

Retail companies may experience post formation risk in joint ventures, arising from partner resource limitations. Differences in management capability between the partners may lead to ineffective collaboration and poor operational performance.

Originality/value

Addresses a previously neglected area of research and provides insights into the management of IRJV. Examines the relevance of key theoretical perspectives in relation to the problems encountered in IRJV activity.

Details

International Journal of Retail & Distribution Management, vol. 35 no. 10
Type: Research Article
ISSN: 0959-0552

Keywords

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