Dissertations / Theses on the topic 'International joint ventures (IJVs)'
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Acquaye, David. "Does the use of project finance enhance shareholder value upon announcement of international joint ventures (IJVs)?" Thesis, Cardiff Metropolitan University, 2013. http://hdl.handle.net/10369/6410.
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The empirical evidence relating to the stock market reaction to domestic joint ventures (JV) announcements suggest that the mean abnormal returns (MARs) and cumulative abnormal returns (CARs) are consistently positive, whilst those of international joint venture (IJVs) are mixed. One neglected but obvious influence of the stock market response to IJV announcements is the way they are financed. The preference for project finance over corporate finance in the financing of IJVs may have a role to play in this context. Compared with capital structure theories, this gap is seen as quantifying the role of the type of structure or debt (project or corporate finance) plays in shareholder value creation upon announcement. Using a cross-sectional study comprising of a finnal sample of 394 IJV announcements made from the years 2005 to 2010 and retrieved from the Securities Data Company (SDC) database, an event study methodology was used to derive MARs and CARs in a 2l-day window (-10,+10). The MARs and CARs are integrated into regression analyses to examine the specific role the type of finance plays in shareholder value creation upon announcement by controlling for project specific, host nation characteristics and sponsor-specific variables. The findings of the research establish that IJVs on average create value upon announcement but does not have a lasting impact on stock market valuation. As expected, the financial markets' response to IJV announcement during and after the global financial crisis (2008-2010) was not favourable. It was also found that the choice of finance matters in the market response to IJV announcements with project finance having a higher probability of eliciting a significant positive market reaction. Finally, the study revealed that whilst sector and gearing has an impact on MARs and CARs, the legal origin of the host country of the IJV did not make an impact upon announcement.
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Mahmoudi, Khorassani Javad. "The effect of trust antecedents on the performance of international joint ventures (IJVs) in developing countries : the case of Iran." Thesis, Brunel University, 2012. http://bura.brunel.ac.uk/handle/2438/12667.
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International joint ventures (IJVs), as organisational entities which are formed and controlled by local and foreign firms, are one of the most significant ways of expansion of international firms. IJVs have complex characteristics and the management of IJVs faces many problems. Due to these problems, IJV performance has attracted significant research attention – eventually any strategy has to be evaluated in terms of its success. The aim of this study is to investigate the factors that affect inter-organisational trust and as a result, the performance of IJVs in Iran, a developing country, which is in the early stages of the development of IJVs. According to Abosag and Lee (2012), there are few studies that concentrate on IJVs in developing and Middle Eastern countries and more studies on these areas are required. This empirical study is preceded by a systematic review of the relevant literature that led to the development of a conceptual model. The data were collected from a sample of managers in the industry sector of IJVs in Iran with their Asian partners by using a survey questionnaire, and analysed using the statistical package for social sciences, SPSS V.18. The results from this study show that inter-partner fit factors and relational factors have a strong and positive impact on the level of trust; however, fairness was not found to be positive and significantly related to trust. Religion and country risk were found to have a negative and significant relationship with trust. Moreover, a strong and positive relationship between trust and performance features (satisfaction, goal achievement and learning) and between commitment and performance features (satisfaction, goal achievement and learning) were found. This research provides empirical evidence for inter-organisational trust predictor variables for performance. A key contribution of this research is that it offers a robust framework that explains the antecedents of trust and demonstrates that trust has a definite positive impact on the performance of IJVs. The proposed framework is evaluated and tested against the original criteria of trust in IJVs, exactness and executability. Moreover, this study provides a novel contribution to the growing literature on trust in IJVs, particularly for developing countries such as Iran and the Middle East countries. The results of this research provide us with a meaningful managerial implication for the selection of competitors as IJV partners.
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Khan, Sardar Zaheer Ahmad. "Technology transfer effectiveness through international joint ventures (IJVs) to their component suppliers : a study of the automotive industry of Pakistan." Thesis, University of Birmingham, 2011. http://etheses.bham.ac.uk//id/eprint/3171/.
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This thesis investigates the important topic of technology transfer effectiveness from international joint ventures (IJVs) established in the automotive industry of Pakistan to their local components suppliers; a relatively under-explored area and context. Using hybrid methodology (qualitative interviews conducted with the 50 Pakistani first tier suppliers, 3 of the major assemblers who control 95%-98% of the market and with the officials of the Ministry of Industries and Production, supplemented with survey questionnaire), the study argues that IJVs in the automotive industry of Pakistan have transferred very limited low-medium complexity parts technology to their Pakistani component suppliers. The results also demonstrate that the assemblers have not, so far, transferred the whole package of technology to their suppliers. This whole package of technology is important for the resource constrained and underdeveloped suppliers to move up in the global value chain. The results also point out that the willingness of the sender is an important aspect for any technology transfer to take place and, in the context of Pakistan; assemblers are willing to transfer components to component- based technology depending on the underlying complexity of that particular component. Inter-organisational dynamics in the form of trust and social ties play a considerable and vital facilitating role in the transfer and effectiveness of technology. The recipient‘s role also in terms of learning intention and absorptive capacity is, highly relevant along with the willingness of the sender for the technology transfer to be effective. The study also shows that different governance mechanisms play an important role for technology transfer effectiveness, and the results demonstrate that only a few suppliers have developed exploitative/ exploratory innovations and a depth/breadth of learning. Finally, the study presents relevant contributions for managers, policy makers and researchers interested in the field of technology transfer and its effectiveness.
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Chen, Ran. "Linking foreign parent-transferred knowledge with performance superiority: the effects of distribution capability, absorptive capacity, and market turbulence in emerging economy IJVs." HKBU Institutional Repository, 2014. https://repository.hkbu.edu.hk/etd_oa/78.
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Drawing on the dynamic capabilities perspective, this study provides some important insights into the paradox of the knowledge transfer-firm performance relationship in international joint ventures (IJVs) in an emerging market, China. It examines the IJV’s distribution capability as the underlying mediating mechanism through which the potential benefits of foreign parent-IJV knowledge transfer can be channeled and transformed into superior IJV performance. In this mediation process, the IJV’s absorptive capacity and market turbulence work as two boundary conditions that reinforce the role of foreign parent-IJV knowledge transfer on the IJV’s distribution capability. Specifically, this study delineates how the IJV’s distribution capability mediates 1) the complementary effects of knowledge transfer and absorptive capacity, and 2) the interactive effects of knowledge transfer and market turbulence, on IJV performance, respectively. Five hypotheses are proposed and empirically tested based on a random sample of 136 equity-based manufacturing IJVs in China. Overall, the results support the proposed hypotheses except hypothesis 1 which posits the IJV’s distribution capability mediates the effect of foreign parent-IJV knowledge transfer to the IJV’s ultimate performance. The findings reveal that 1) the IJV’s absorptive capacity and market turbulence strengthen the link of foreign parent-IJV knowledge transfer and the establishment of the IJV’s distribution capability; and 2) distribution capability mediates two complementary effects (knowledge transfer and absorptive capacity, and knowledge transfer and market turbulence) on superior IJV performance in emerging markets. The plausible explanation for the unsupported hypothesis 1 is the majority of the knowledge transferred by foreign parent is related to product development, organizational management and operational processes, rather than market knowledge. Hence, because distribution capability is an ability closely related to market, the true impact of the knowledge transferred on distribution capability may be blurred and even concealed if IJVs lack sufficient absorptive capacity or are currently operating in stable markets. In summary, this study makes an original contribution to extant IJV literature by unpacking the black box of the knowledge transfer-IJV performance relationship and reveals that the IJV’s distribution capability plays as an underlying mediation mechanism. It also identifies the moderating roles of the IJV’s absorptive capacity and market turbulence on the knowledge transfer-distribution capability relationship, and makes important empirical contribution to extant dynamic capabilities literature by substantiating the theoretical claim that dynamic capabilities have an indirect effect on firm performance, and that the existence and use of dynamic capabilities are more effective under rapidly changing environments. Keywords: Knowledge Transfer; Distribution Capability; Absorptive Capacity; International Joint Ventures; China
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Mattar, Jorge Luis. "Joint ventures internacionais: relações entre aprendizagem interorganizacional, capacidade relacional e desempenho - um estudo de caso no setor alimentício brasileiro." Universidade Presbiteriana Mackenzie, 2015. http://tede.mackenzie.br/jspui/handle/tede/656.
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Previous issue date: 2015-08-10This research aimed to evaluate the relations amongst inter organizational learning, relational capability and performance of international joint ventures (IJVs), in the Brazilian food industry. In a business context shaped by competitiveness and organizational efficiency, within an increasingly interconnected world, IJVs have become a major force of multinational enterprises global strategies. Despite bringing potential synergistic benefits, the IJVs are inherently unstable organizational forms as the incentives for competition are contradictory with cooperation between the joint ventures partners. IJVs represent a vehicle for inter organizational learning which is influenced by their ability to manage alliances, known as relational capability. The Brazilian food industry was chosen because it provides a rich source of data relevant to this research s goals, mainly because of its rapid technological evolution as well as due to opening the country s boundaries to international trade. This has enhanced the industry s competitiveness primarily due to the entry of large multinational companies. A qualitative methodology with multiple case studies approach was adopted. Data were collected through six interviews with three senior executives of each IJV and handled using the thematic category content analyses technique with a priori categorization. The results corroborates with the existing literature by confirming that in IJVs oriented towards (financial) results, performance is evaluated through a set of objective measures and that IJV longevity or its termination shall not be used as performance indicators. It reinforces that, IJVs represent an important inter companies knowledge transfer channel influenced by its partners competitiveness, knowing that competitiveness is not only defined by the business activity overlap but also by the different dimensions and strategic agendas between the partners. The evidence of relational capability in the JVIs through effective governance models, promotes inter organizational learning and contribute to improve the IJVs performances. With regards to the managerial contribution the research s outputs offers a broader portfolio of knowledge for enterprises and managers interested either in acquiring or strengthening their know-how on this field. The limitations identified in this study are related to the type of alliances (IJV), the sector of the economy (food industry) and the geographical restriction, which all represents opportunities for future research.
Esta pesquisa teve como objetivo avaliar as relações entre aprendizagem interorganizacional, a capacidade relacional e o desempenho das joint ventures internacionais (JVIs) no setor de alimentos no Brasil. Em um contexto de negócios moldados pela competitividade e eficiência organizacional, em um mundo cada vez mais interconectado, JVIs se tornaram uma importante força nas estratégias globais das empresas multinacionais. Apesar dos potenciais benefícios sinérgicos esperados, as JVIs são inerentemente formas organizacionais instáveis, uma vez que os incentivos à competição entre os parceiros são contraditórios com a cooperação entre eles. As JVIs são reconhecidamente veículos de aprendizagem inter oganizacional influenciados pelo desenvolvimento da capacidade de gestão da aliança, ou seja, a capacidade relacional. A aprendizagem interorganizacional explora as dinâmicas envolvidas com a aprendizagem colaborativa e competitiva entre os parceiros para gerar vantagem competitiva. Escolheu-se o setor de alimentos no Brasil em função de sua relevância para os objetivos da pesquisa, destacando-se a rápida evolução tecnológica do processo produtivo, a abertura comercial brasileira e o aumento da concorrência, especialmente pela entrada de grandes empresas multinacionais no setor. O estudo adota a metodologia qualitativa a partir da estratégia de estudo de casos múltiplos, envolvendo os gestores que participam da gestão de duas JVIs selecionadas. Os dados foram coletados via seis entrevistas com três executivos seniores de cada JVI e foram tratados se utilizando a técnica de análise categorial temática com categorias definidas a-priori. Os resultados obtidos corroboram com a literatura existente ao confirmar que nas JVIs direcionadas aos resultados o desempenho é avaliado pelo conjunto de métricas objetivas e, longevidade ou término das JVIs não deve ser utilizado como indicadores de desempenho. Ratifica que JVIs representam um importante canal de transferência de conhecimento entre organizações, influenciado pela natureza competitiva entre os parceiros, sendo que a natureza competitiva não é só função da sobreposição nos segmentos de atuação, mas também das diferenças em dimensões e agendas estratégicas entre eles. A existência da capacidade relacional nas JVIs, por sua vez, através de modelos de governança efetivos, favorece a aprendizagem interorganizacional e contribui para um melhor desempenho destas JVIs. Quanto às contribuições para a prática da gestão, este estudo, através das proposições apresentadas, oferece um portfólio de conhecimento para organizações e gestores interessados na formação ou que necessitam aumentar seu entendimento sobre as dinâmicas envolvidas nesta forma organizacional. As limitações identificadas neste estudo, relacionadas ao tipo de aliança estudada, setsetor da economia e restrição geográfica, implicam em oportunidades para futuras pesquisas.
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Raj, Ingrid. "The relevance of fit in management styles between managers of Sino-German international joint ventures : an empirical examination of the fit between partners' management styles in Sino-German IJVs." Thesis, University of Bradford, 2007. http://hdl.handle.net/10454/7231.
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As German organisations expand their businesses into China, the potential risks associated with a lack of fit in management styles among International Joint Venture (IJV) partner-firms have become increasingly obvious to academic researchers, human resource professionals and partner-firm managers themselves. The general consensus among researchers and practitioners is that cultural differences in management styles are a major deterrent to the success of IJVs. Limited research has been undertaken to specifically examine and identify how partner-firm managers can overcome this barrier in Sino-German IJVs.
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Nguyen, Van Hien. "Impact de l'apprentissage sur l'efficacité organisationnelle des joint-ventures internationales : application aux joint-ventures du Vietnam." Thesis, Aix-Marseille, 2013. http://www.theses.fr/2013AIXM1083.
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Au cours des 25 dernières années, le nombre de joint-ventures internationales (JVI), qui se forment lorsque deux ou plusieurs entreprises partenaires mettent une partie de leurs ressources au sein d’une organisation légale possédée conjointement, s’est multiplié. Parallèlement à cette prolifération, les déterminants de la performance des JVI ont retenu particulièrement l’attention des chercheurs. Dans le cadre de cette recherche, nous nous focalisons sur l’aspect de l’apprentissage organisationnel en le liant à l’efficacité organisationnelle des JVI.Nous avons développé notre cadre conceptuel en nous basant sur la théorie de l’apprentissage organisationnel, la théorie fondée sur les connaissances et des revues de la littérature. Ainsi, nous avons proposé un modèle et dix-neuf hypothèses de la recherche liés aux retours positifs de l’apprentissage organisationnel sur l’efficacité organisationnelle des JVI. Ceux-ci sont ensuite examinés empiriquement en utilisant la méthode PLS sur une base de données de 176 JVI du Vietnam. Les résultats empiriques ont montré le rôle indéniable de l’apprentissage organisationnel dans l’amélioration de l’efficacité organisationnelle des JVI.Principaux résultats de la recherche : (1) plus les connaissances sont acquises dans les JVI plus leur efficacité organisationnelle s’améliore ; (2) la qualité des relations entre les partenaires de la JVI explique bien et influence fortement la performance d’acquisition de connaissances ; (3) concernant la culture d’apprentissage organisationnel, les pratiques de l’apprentissage d’équipe ont été identifiées comme un élément central influençant directement la performance d’acquisition de connaissancesOver the past 25 years, the number of International Joint Ventures (IJV), which are formed when two or more partner companies put their resources together in a jointly owned legal organization, has multiplied. Along with this proliferation, the determinants of the IJV performance have attracted particular attention from researchers. In this study, we focus on the aspect of organizational learning by linking it to the IJV organizational effectiveness.We have developed our conceptual framework based on the theory of organizational learning, knowledge-based theory and literature reviews. Thus, we have proposed a model with nineteen research hypotheses related to the positive impact of organizational learning on the IJV organizational effectiveness. Both the model and these hypotheses are then examined empirically using the PLS method on a database of 176 IJV in Vietnam. The results showed the undeniable role of organizational learning in improving the IJV organizational effectiveness.Key research findings : (1) the more knowledge acquired in the IJV, the more its organizational effectiveness improved; (2) the quality of relationships between the IJV partners explains well and strongly influences the performance of knowledge acquisition; and (3) on organizational learning culture, the practices of team learning have been identified as a key element influencing the performance of knowledge acquisition directly
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Petrovic, Jelena. "Balancing the multiplicity of different international joint venture (IJV) partners' agendas : IJV directors' contribution to board effectiveness." Thesis, Cranfield University, 2006. http://dspace.lib.cranfield.ac.uk/handle/1826/10542.
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This research examines international
joint Venture (IJV) directors' contribution to
board effectiveness, utilising a role theoretical framework. The study was prompted
by a view that academic debate was limited in its understanding of how directors of
IJV boards contribute to board effectiveness whilst balancing the multiplicity of
different
partners agendas. I particular, the literature review reveals the tendency of
the studies of the IJV board director role to describe behaviours that make up a role,
at the
expense of the actual processes entailed in full filling the role. I addition, the
corporate governance (CG) studies have made large inferences from inputs such as
board
composition to outputs such as board effectiveness, with no direct evidence
of the
processes that presumably link the inputs to the outputs.
Based on the
findings from a qualitative exploratory case study of thirteen board
directors from three Serbian-foreign joint Ventures based in Serbia, the research
proposes _a model that captures the contribution to board effectiveness from a
individual IJV board directors
perspective. By revealing the actual processes that
produce and are affected by IJV board director role outcomes, the study offers a
explanation of IJV board director behaviour and opens what has been described as the
black box of CG research.
The research holds direct
implications for role theory, and the IJV and CG literatures.
It enhances
understanding of IJV board director role, broadens the scope and
relevance of role
theory beyond the domestic company, extends the study of board
director role in the CG literature to IJVs, and contributes to the studies of board
dynamics and IJV boards which have been largely under-researched. The research
also
provides practitioners with a better understanding of the issues and nuances
associated with
governing of IJVs, as well as knowledge of IJV board director
behaviour within the Serbian CG system.
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Yan, Yanni. "Ownership and control in international joint ventures : a study of Sino-foreign joint ventures." Thesis, University of Cambridge, 1997. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.389427.
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Halfvardsson, Terese, Jagoda Maracic, and Peter Sjöberg. "Knowledge Harvesting from International Joint Ventures." Thesis, Kristianstad University College, Department of Business Administration, 2005. http://urn.kb.se/resolve?urn=urn:nbn:se:hkr:diva-3263.
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This dissertation explores and analyses factors which could facilitate Knowledge
Harvesting, and also how important it is for the parent companies. Knowledge
Harvesting is one of the knowledge processes within an international joint venture
network that has not received much attention from the academic community. After
relevant review of the literature in the area of international joint ventures and
knowledge management, the authors of the dissertation created a model. The model
consists of five factors: Motive, Absorptive capacity, Knowledge characteristics,
Trust, and Control. Eight hypotheses are formulated in order to test the model. The
empirical study is concentrated on Swedish companies involved in an international
joint venture with a foreign company. A deductive approach is chosen in order to
answer the research questions, and primary data is collected using an online survey.
The results of the questionnaire are analysed in a descriptive manner and several
conclusions are drawn.
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Zhong, Litao. "Domestic tax policy and international joint ventures /." Available to subscribers only, 2006. http://proquest.umi.com/pqdweb?did=1240702271&sid=5&Fmt=2&clientId=1509&RQT=309&VName=PQD.
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Hau, Le Nguyen. "Acquiring marketing knowledge through international joint ventures." View thesis, 2005. http://handle.uws.edu.au:8081/1959.7/22517.
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Thesis (Ph.D.) -- University of Western Sydney, 2005."A thesis submitted for the degree of Doctor of Philosophy, University of Western Sydney, 2005". Includes bibliographical references and appendices.
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Chik, Sing-wing. "Case studies of international joint venture /." Hong Kong : University of Hong Kong, 1997. http://sunzi.lib.hku.hk/hkuto/record.jsp?B18835867.
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Klossek, Andreas M. "Market entry and expansion through international joint ventures." Doctoral thesis, Technische Universitaet Bergakademie Freiberg Universitaetsbibliothek "Georgius Agricola", 2009. http://nbn-resolving.de/urn:nbn:de:bsz:105-0228667.
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International joint ventures (IJVs) are important modes for entering foreign markets. Yet, research shows that IJVs are volatile, difficult to manage, and often fail, especially when the joint venture is located in a developing country. Many studies look at a range of different factors behind IJV success or failure, and a few longitudinal studies have shed light on some of the complex management processes within IJVs. Many researchers have concluded that the high rate of IJV failure is due to internal tensions that are inherent to IJVs, but viable solutions for practitioners are rare. In the absence of a model that adequately explains the longitudinal aspects and determinants of IJV performance, we see firms electing to stay in underperforming IJVs, even though more profitable modes of entry into foreign markets exist. In this thesis I analyze market entry and expansion through IJVs using a multi-causal analysis of IJV performance. I begin with a critical evaluation of the IJV literature. I then develop a process-oriented model that may explain why firms persist with failing IJVs. Finally, I draw several important conclusions that have valuable implications for practitioners and for future research.
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Ozorhon, Beliz. "Modeling The Performance Of International Construction Joint Ventures." Phd thesis, METU, 2007. http://etd.lib.metu.edu.tr/upload/12608945/index.pdf.
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International joint ventures (IJVs) have become popular because of their importance as a strategic alternative in global competition. Construction companies consider IJVs as a vehicle to enter new markets and exploit business opportunities. Being a special type of strategic alliance, IJVs offer partnering companies to combine the distinctive competencies and the complementary resources. Despite the benefits associated with IJVs, such entities are very difficult to manage mainly due to their inherent complexity, involving a mixture of different cultures, managerial systems, philosophies, and attitudes. As a result of these difficulties, the failure rate of IJVs is generally high. Therefore, measurement of the performance of IJVs has been an important research topic for a few decades. However there is no consensus on an appropriate definition of the indicators and determinants of IJV performance in construction.
In this study, a framework is proposed to model the IJV performance in construction industry. A multi-dimensional performance measure is developed and determinants influencing the level of performance are defined. In this context, a questionnaire survey was administered to Turkish construction companies that have established IJVs with foreign partners. The validity of the proposed drivers and measures of performance is investigated and relationships between them are analyzed using the structural equation modeling technique.
The results point out the significance of the inter-partner fit and the quality of partner relations for a successful IJV operation. The findings of the study also suggest that project-related factors have a moderate influence on IJV performance. In a properly designed IJV structure, partners with compatible skills, resources, and cultures are found to maintain good relations and are expected to achieve greater IJV success.
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Bener, Merve. "The management and performance of international joint ventures." Thesis, University of Sheffield, 2008. http://etheses.whiterose.ac.uk/6121/.
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This study investigates several core aspects of the management and performance of international joint ventures with parent firms from Europe, North America and Australia. The focus of the study is the relationships between management control of IJVs, autonomy granted to the IJV management, trust between IJV partners, perceptions of cultural differences between IJV partners and the performance of IJVs. The study builds on the existing literature by examining new data and providing new empirical insights. Data was collected by means of an international mail survey using a self-administered questionnaire and an e-mail survey. The General Directorate of Foreign Investment (GDFI) database in Turkey and the OSIRIS database served to provide two sampling frames for the data collection. The perspective of this study is an empirical investigation of the nature of management control exercised by the parent firms over the joint ventures. This study provides new evidence on the relationships between the dimensions of management control and the performance of a sample of JVs. The overall concept of autonomy is examined by discussing differences in the management and control of decision-making as categorized by operational versus strategic decisions. Furthermore, the influence of IJV performance and IJV duration on autonomy is considered. The relative importance of both national culture and corporate culture differences on the management of the joint venture is considered. The influence of joint venture age and the influence of autonomy granted to JV management are investigated with particular reference to culture. This study provides a framework of trust by treating perceptions of cultural differences as antecedents to trust, the degree of JV autonomy granted as a consequence of trust and JV performance as both antecedent to and consequence of trust. This study identifies the key determinants of IJV performance as management control of IJVs, autonomy granted to the IJV management, trust between IJV partners and perceptions of cultural differences between IJV partners.
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Geng, Lifeng. "Ownership, intangible assets and joint ventures' performance the case with American firms' international joint ventures in Japan /." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 2000. http://www.collectionscanada.ca/obj/s4/f2/dsk1/tape2/PQDD_0010/NQ59592.pdf.
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Kemp, R. G. M. "Managing interdependence for joint venture success : an empirical study of Dutch international joint ventures /." Groningen : Rijksuniversiteit Groningen, 1999. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=008965946&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Chung, Hon-tat. "Joint ventures : a case study on an international joint venture in the construction industry in Hong Kong /." [Hong Kong : University of Hong Kong], 1993. http://sunzi.lib.hku.hk/hkuto/record.jsp?B13731087.
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Dalaryd, Magnus, and Daniel Mayer. "A Brazilian - Swedish Relationship : How to Establish a Successful International Joint Venture." Thesis, Högskolan i Halmstad, Sektionen för ekonomi och teknik (SET), 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:hh:diva-19025.
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Due to the nature of globalization, new strategies have been designed to break into new markets. Joint Venture is a common strategy to enter new markets and by using a Joint Venture, companies share risks and establish new contacts with local knowledge. Brazil is a market where foreign investors gain more and more interest. Brazil's economy is growing fast and made well during the global financial crisis. The middle class in Brazil is constantly growing and for the first time, poverty is not a majority in Brazil.In an International Joint Venture (IJV), it is usually a foreign company establishing a partnership with a local company. Often, IJVs fail because companies have problems collaborating, depending on different variables. In this thesis, we chose to analyze the cultural barriers in a Brazilian-Swedish IJV on the Brazilian market. The purpose of this thesis is to gain an understanding and describe cultural barriers in an IJV partnership, and high-light those to increase the chances for successful IJVs between Brazilian and Swedish companies in the future.This thesis is qualitative, with an abductive approach, in order to gain a deeper and better understanding of experienced barriers. We have chosen to see culture from both a national and an organizational perspective as earlier research has showed that national culture affects the organizational culture within an IJV. Using Hofstede's (1991) four dimensions of national culture as a supplement to Wilson’s (2001) four factors influencing the organizational culture, we have conducted four interviews in two Swedish-Brazilian IJV companies located in São Paulo, Brazil. The companies we have chosen to interview have been small or medium-sized manufacturing. Interviews were conducted face-to-face in a comfortable environment for all respondents. In our analysis, we used matrices to make it easier to see what differences and/or similarities there are between the case-companies.Results of this study, demonstrate that the experiences from the two case-studies are well in line with each other. The organizational structure in Brazil has been perceived as more hierarchical than the Swedish vertical and more open structure. This in turn, has strengthened the differences in communication between managers and employees, which been perceived as more top-down in Brazil than in Sweden. Our conclusion is that cultural barriers have been perceived, in the perception of the leaders’ expected behavior, language barriers, differences in planning and management of uncertain situations, Brazil's more family-oriented society and close relationship between private life and work in the Brazilian market.Several of these barriers have been experienced during the early start-up of an IJV, something we believe increases the importance of being well prepared for cultural barriers that may arise. The importance of an agreement upon the structure and policies at the company at an early stage is crucial, to reduce future possible conflicts. Show mutual respect and understanding for one's partners’ culture and experienced cultural barriers, use these to avoid any negative effects, and instead create a positive impact for the IJV.Minor Field Study
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Owens, Martin David. "Formation and management of international joint ventures in retailing." Thesis, University of Ulster, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.494399.
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Gammed, Salem Abd-Arrahman. "The legal aspects of Libyan public international joint ventures." Thesis, University of Strathclyde, 1996. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.301437.
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Soliman, Manar Mohamed AbdElMoneim Ibrahim. "Risk management in international construction joint ventures in Egypt." Thesis, University of Leeds, 2014. http://etheses.whiterose.ac.uk/7432/.
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Egypt is a developing country and the construction sector has a significant impact on GDP. The development and competitiveness of the Egyptian construction sector in local and international markets are affected by many risk factors. To overcome these risks, some joint ventures are arranged between the Egyptian and the International companies. These joint ventures needs studying to understand the risks and the changes, which are inherent in these companies, and the projects that they execute. Positioning this research to introduce the risk factors to address the risks associated with the joint ventures in Egyptian construction market. This research taken place before 25 January 2011 when the Egyptian revolution began, deposing President Mubarak. Since then many changes have faced the Egyptian and international companies and have created risks in the political and economic situation. Some of project contracts were examined to find out the risk environment faced by joint ventures. In addition, the research established a theoretical model to identify those risk factors for International construction joint ventures in Egypt based on the collection and analysis of quantitative data collected through questionnaires. The research investigated risk management process in the business of joint ventures in which a number of new risk factors identified for the Egyptian construction market, which can be added to the existing factors that noted from the literature review. The main contribution of this research is the identification of the risk factors in three levels, which are; the country, the joint venture company and the project specific levels. The top risks of the country level are: Different applicable law, Currency Exchange, Equipment Availability, Government act, and regulations; for the joint venture level are: Financial capability, Connections with the host government, Strategic complementary; and for the project specific level are: materials; location of the project; sub- contractor capacity. Considering these risk factors facilitates clear decision making in arranging joint ventures in Egypt. Moreover, it mitigates the potential of these risks to occur.
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Chung, Hon-tat, and 鍾漢達. "Joint ventures: a case study on an international joint venture in the construction industry in HongKong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1993. http://hub.hku.hk/bib/B31265637.
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Rajan, Raji. "International joint ventures in developing economies : an analysis of Indo-British ventures in India." Thesis, University of Reading, 2003. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.409046.
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Sakullelarasm, Phornchai. "International Joint Venture: An Analysis of the Effect of Joint Venture Formation on Shareholder Wealth." Thesis, University of North Texas, 1991. https://digital.library.unt.edu/ark:/67531/metadc332538/.
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The purpose of the study is to empirically investigate the effect of international joint venture formation on shareholder wealth. The period under investigation was from 1972 to 1987. Based on the theoretical and empirical researches done in this area, several hypotheses were tested. The statistical significance of the capital market reation to the joint venture formations was examined by using the standard event study methodology. The Ordinary Least Squares method was used to estimate the coefficients of each firm's market model parameters. The results, in general, support the wealth effect of international joint venture formation. The capital market seems to react to the unexpected information of the international joint venture formation announcements. There is evidence to indicate that international joint ventures will provide firms' shareholders with positive net present values.
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Tang, Lai-sheung Cecilia. "Risk control for joint ventures in China /." Hong Kong : University of Hong Kong, 1996. http://sunzi.lib.hku.hk/hkuto/record.jsp?B17983927.
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Tracy, Elizabeth Ann Mitchell. "Domestic and international joint ventures : shareholder value and managerial perceptions." Thesis, University of Oxford, 1997. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.364792.
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Charman, Kenneth Paul. "The structure and characteristics of international joint ventures in Kazakstan." Thesis, London Business School (University of London), 1999. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.314369.
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Suwannarat, Pornlapas. "The characteristics and performance of international joint ventures in Thailand." Thesis, Nottingham Trent University, 2010. http://irep.ntu.ac.uk/id/eprint/212/.
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The importance of strategic alliances in the form of international joint ventures (IJVs) is growing in the present international business environment where competition is on a global scale. A review of the IJV literature, especially in developing countries, shows an over-emphasis on China and the NIEs (the first tier newly-industrialising economies: Taiwan, Singapore, Hong Kong, and South Korea). To date, relatively little attention has been paid to the ASEAN4 countries (the high-performing economies of the Association of Southeast Asian Nations: Thailand, Malaysia, the Philippines, and Indonesia), even though since the 1990s this region has had one of the fastest growing economies in the world. This study provides new empirically based insights into the under-researched phenomenon of IJV formation in the South East Asian region. The study takes Thailand as an example of the ASEAN4 countries. Drawing on an unpublished official database of international joint ventures (IJVs) and a survey of managers of IJVs operating in Thailand, the study sets out to identify recent trends in Thai international joint ventures (IJVs), explore the motives and contributions of firms that participate in such IJVs and examine some of the factors that influence their performance. The study provides for the first time an in-depth analysis of a key dimension of Foreign Direct Investment (FDI) in Thailand. Recent trends in Thai IJVs were found to be an upward path for IJV formation in the post 2000 period and the continued dominance of Japanese manufacturing companies as investors. Similarly key motives were found to differ markedly between foreign and local investors, while among the factors affecting performance were found to include IJV commitment, organisational learning and similarities in organisational culture.
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Park, Jeong-Yang. "Knowledge sharing and learning for internationalisation within international joint ventures." Thesis, University of Edinburgh, 2013. http://hdl.handle.net/1842/15822.
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Though International Joint Ventures (IJVs) are widespread, their high failure rate, attributed to the difficulty of managing them, has increased interest in their management. IJV research has seen knowledge sharing and learning between partners to be essential for success, and has noted that this is easier when the international partners are culturally aligned with one another. The process of integrating knowledge across national boundaries and between people from dissimilar cultures is a challenge, because it requires the firms to be embedded into the local market. IJVs need to ensure appropriate approaches for acquiring the knowledge and learning they require. The purpose of this thesis is to examine the knowledge sharing and learning processes that IJV managers undertake, focusing on the “micro-level” of IJV manager action and interaction. It explores how managers of the partners and of IJVs overcome barriers to knowledge sharing. This research combines internationalisation process, knowledge sharing and organisational learning research to develop an overarching theoretical framework for IJV learning that positions the IJV managers’ roles within the learning process within IJVs. It then examines theoretical ideas concerning the ‘microfoundations’ of learning to consider the structural arrangements, the individual capabilities and the organisational processes of the IJV that might help IJV managers to learn from their partners, to develop capacity within their IJV, and to help the internationalisation of their partners. This study explores knowledge sharing and learning within the highly successful Samsung-Tesco Homeplus retail IJV formed in 1999 in South Korea as part of Tesco’s internationalisation process. The retail context is appropriate to study the concepts of IJV learning, because retail businesses need to be highly embedded in their market through strong ties with their local customer base, which increases the need for internationalising retail firms to gain knowledge and learning from local IJV partners. The case partner firms, having complementary resource bases but facing barriers of dissimilarity (Korean electronics manufacturer and UK retail firm), yielded a rich context for examining how these were overcome to achieve learning. Data from semi-structured interviews with top and middle level managers and industry experts were triangulated with multiple sources of secondary data. A microanalysis approach for data analysis enabled analytical abstraction to theory. The study draws three broad findings regarding the overarching theoretical framework for IJV learning. First, IJV partners can themselves develop strategies that help knowledge sharing that will enhance the prospects for IJV success. The IJV partner’s prior capabilities are critical for building and sustaining their IJV relationship prior to and during the IJV. These capabilities facilitate cross-fertilization, integration, and combination of new knowledge and learning between the partner’s prior bodies of knowledge, helping knowledge application to be focused on the IJV’s needs. This, in turn, helps an absorptive capacity building process to be generated within the IJV itself.
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Joshi, Richa. "A complexity perspective on mergers, acquisitions, and international joint ventures." Thesis, University of Hull, 2015. http://hydra.hull.ac.uk/resources/hull:13076.
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This research represents the application of complexity theories to the study of strategic alliances in an emerging market context. The people, culture and communication issues of strategic alliances such as mergers and acquisitions (M&A), and international joint ventures (IJV) are a topic of concern for academics and practitioners. Much published research acknowledges the high failure rate of M&A and IJV and admits challenges in managing these changes. M&A and IJV are inherently complex changes but often managed using linear simplistic approaches. Therefore, it seems logical to view these complex changes using complexity approach. But little has been done to link M&A and IJV management with complexity theories. This research draws on work in complexity theories to better understand the emergence of M&A and IJV in their post-integration phase. Taking a case study approach, conditions of emergence posited by a dissipative structures model of complex systems – disequilibrium conditions, amplifying actions, recombination dynamics and stabilizing feedback; along with the legitimate and shadow system view of organizations – are used to explain M&A and IJV activity in an Indian pharmaceutical engineering firm. The findings suggest a match between the theories employed and what the empirical research discovered, empirically validating the theories to study M&A and IJV phenomena. The findings complement the theoretical perspectives on people, culture and communication issues of M&A and IJV and demonstrate that the complexity lens provides a comprehensive understanding of these changes.
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Zhang, Qing. "Management of construction international joint ventures between Australia and Asia." Thesis, Queensland University of Technology, 2000. https://eprints.qut.edu.au/36103/1/36103_Zhang_2000.pdf.
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In recent years, many of South East Asian countries have experienced high
levels of economic growth. Coupled with their sheer population, this has led to
a huge demand for the improvement of infrastructure. The construction
market is growing rapidly in these countries, with governments encouraging
multinational companies to set up joint ventures with the local companies to
bring in advanced construction technology. International Joint Venture (IJV)
as a unique formation of project structure has become one of the most widely
used methods for multinational construction companies to enter into the Asian
market.
Australia is building closer relationships with Asian countries and is playing an
active role in the economy development of Asia Pacific region. Australian
contractors are also trying to gain a foothold in the international construction
market. They have the geographical advantage over their US or European
competitors to target the Asian market. Despite all this, the Australian
construction industry has been slow in accessing the Asian market, and has
experienced many difficulties.
As a result of the increasing interest in joint ventures in the business
environment and the high failure rate of the IJV, the study of IJV is gaining
increasing popularity among researchers. Most of the research has focused
on the motivations to joint venture. For example, past studies have
investigated joint ventures as means of coping with resource limitations and
uncertainty, reduction of risk and/or uncertainty, and expediting entry into a
new geographic or technological market. Another focus of joint venture research has been on joint venture performance and control. However, little
literature is available on how to manage the IJV between Australia and Asian
countries. As more and more Australian companies are forming joint ventures
in Asian developing countries, it is important to investigate the performance of
these joint ventures.
This research project aims at the Australian IJV in Asia. After the analysis of
existing joint venture problems, four areas of joint venture management - joint
venture formation, joint venture partnership and negotiation, joint venture
organisational management and joint venture project management have been
identified as the research concentration. Industry interviews and a
questionnaire survey has been used to collect data. Research findings are
further developed into a theoretical model for Australian IJV management.
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Kanjanapitak, Rukkagee. "Knowledge transfer in international joint ventures : the case study of Bangkok Hospital's knowledge transfer to its Cambodian-based joint ventures." Thesis, Kingston University, 2011. http://eprints.kingston.ac.uk/20291/.
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Despite the high interest and the surge of research on knowledge transfer in the past decade, it is surprising that most of the existing studies have not presented a framework that could provide a satisfactory explanation for how knowledge is transferred from one unit or one organisation to another and how it is remained within the recipient unit or the recipient organisation. Such unclear and vaguely explained concepts and frameworks for knowledge transfer have become a major limitation of the research in this area. In order to fill the knowledge gap, this study aims to build a more comprehensive knowledge transfer framework that covers the key concepts of both knowledge transfer and learning, including the related social mechanisms and cognitive factors generally involved in the dynamic process of knowledge transfer. It particularly explores how knowledge transfer actually occurs in the real-life international joint ventures and investigates factors affecting the transfer process, in a hope that the findings would offer the creation of new concepts and essential guidance on knowledge transfer that can be generalised to other cases where the same phenomenon exists. This research employs a qualitative methodological approach to enrich the developed theoretical framework for knowledge transfer. A multiple-case study methodology, with a replication procedure, is used since it can provide both in- depth insights and compelling evidence. The cases selected include two Cambodian-based IJVs with the same Thai parent. Both cases are operating in the healthcare business, which is considered one of the most knowledge-intensive industries. The data for this study is collected through multiple methods of data collection, including in-depth interviews, documentation; and direct observation. The main findings of this study show general support for the developed framework and proposed propositions. They suggest that foreign parent's knowledge is transferred to the IJVs through the interaction between the sources and the recipients of knowledge. In addition, such transferred knowledge is shared in the organizational through a prolonged social interaction between direct recipients and other organisational members and is eventually institutionalised in the organisation if the organisational members continuously utilise the transferred knowledge. Moreover, the findings also reveal that the characteristics of knowledge, actors, and context can have an effect on the different phases of knowledge transfer.
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戚盛榮 and Sing-wing Chik. "Case studies of international joint venture." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1997. http://hub.hku.hk/bib/B31267890.
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Toral, Luis. "International joint ventures : managerial lessons to draw from European - Argentine partnerships /." Neuchâtel : [s.n.], 2000. http://aleph.unisg.ch/hsgscan/hm00018704.pdf.
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Kreiner, Andrea, and Buchard Diana Raquel Rosales. "Sustainable International Joint Ventures: The case of M&D Bygg." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-21435.
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Purpose - The purpose of this thesis is to explore and describe the opportunities and challenges that can arise when integrating corporate social responsibility (CSR) awareness, in the building of a international joint venture as an entry more to developing countries -low and middle income countries, in terms of the contribution to the economic, social and environmental development of these countries. Theoretical framework – The literature used as a base for this academic paper includes concepts and theories on international joint ventures and corporate social responsibility (CSR). Consequently, from all those theories, the authors build the concept of sustainable international joint venture (SIJV), which is the theoretical base of the paper. The SIJV concet focuses on the integration of CSR awareness to the different components (environment, individuals, process and organization) of international joint venture, in order to contribute to the sustainability of the local context where the joint venture is created. Methodology – For the purpose of this research, a holistic single case study is implemented. The case study is about the international joint venture M&D Bygg created in Kenya between the Swedish company, Mattias Bygg AB, and the African company, M&D Home. To approach the case study, four face to face, 3 skype/online interviews and one telephone interviews were conducted based on semi-structured interview questions. Findings –The empirical findings of the case study comply with the concept of sustainable international joitn venture proposed by the authors in the theoretical framework. However, in some component, the authors found additional aspects that should be taken into consideration when building an international joint venture. For instance, in the individuals stage, the findings showed that “the supporters” is a new category that should be addressed and in the process stage, besides the ”negotiation of the agreement”, another category about ”external financing”. Conclusion – CSR awareness is a needed linking aspect that need to be transversally included in every component of a joint venture formation. This means that the environment, individuals, process and organization of the joint venture, need to be linked by the common interest adding economic value to the partners involve and at the same time, to the society. This in the end, contributes to the economic, social and environmental sustainability of the host country.
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Yang, Min Li. "Bargaining power, ownership and control of international joint ventures in Taiwan." Thesis, University of Glasgow, 2006. http://theses.gla.ac.uk/1443/.
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This thesis provides an empirical analysis of international joint venture activities in Taiwan. The primary purpose is to examine control and its antecedents in terms of ownership, bargaining power, resources contribution, and motivation for forming international joint ventures. Primary data collected by a mail questionnaire is analysed along five core dimensions of international joint venture activities. First, the mechanism, focus, and extent of parent control is identified and tested in a number of sample characteristics. These empirical results also reveal that most joint ventures in Taiwan have higher autonomy and have more autonomy on the appointment of key function managers. Parent firms seek to focus their control over specific activities of the joint ventures rather than attempting to control the entire range of joint venture activities. Second, the results of equity shares held by the host country parents and foreign parents show that both parents have minority shareholding in the joint ventures. A higher ownership by the parents in joint ventures indicates that they have a higher percentage of board members. Third, the relative importance of a set of bargaining power is identified with hypothesis testing of the relationship between control and bargaining power. There is little evidence that the relationship between bargaining power and control is not closely associated. Fourth, the relative importance of resource contribution by parents is identified and hypotheses are tested on the relationship between control and resource contribution factors. The results are strongly supported that the relationships between resource contributions in terms of physical, invisible, financial, human, and organizational ability of parents and their control has significant and positive associations. Fifth, the relative importance of a set of motives for international joint venture formation is identified and hypotheses are tested on the relationship between control and motivation factors in terms of technological acquisition, knowledge learning, risk sharing, competitive strategy consideration, resource complementarily, market expansion. The findings reveal a limited number of significant correlations between motivation factors and control.
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Chan, Dora Yuk King. "Control of international joint ventures in China : a case study investigation." Thesis, Sheffield Hallam University, 2002. http://shura.shu.ac.uk/19667/.
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Changes in the world economy and industrial structures have transformed the patterns of international competition (Porter, 1986). The trend indicates that most firms prefer to take the short route when approaching overseas markets and present themselves directly through foreign direct investment (FDI) (Julius, 1991; Turner, 1991; United Nations 1991).Following the FDI development, a second wave of change in the 1980s and 1990s was the surge of strategic alliances and joint ventures (JVs), the so-called new forms of organisations. The rapid growth of the new forms is at one level a response to the threats and opportunities presented by the shift in patterns of competition, and a driving force which accelerates further changes at the other level. These developments have inevitably raised new contracting and management control issues. The rise of China is another feature highlighting the world economy in the later part of the 20th century (The World Bank, 1997, 1997a). Since China opened up in 1978, the country has undergone a major transformation and changed from "being an economic backwater to a hot spot of investor interest." The nation has captured one third of all FDI flows to developing countries between 1970 and 2000 (Independent, 11/11/2001), the majority of which arrived in JV form and from the sources of overseas ethnic Chinese. All these changes and features have added further questions and requirements to contracting and management control of international JVs (IJVs1). Both the topic (IJV control) and the location (China) are of paramount importance to practitioners and academics alike. This study has made two major contributions to knowledge of IJV control in China. The first contribution is the use of a middle-range thinking research approach (Laughlin, 1995) and the case study method. Control is seen as a wider package, which consists of four contingency factors (environment, UV mission, ownership and bargaining power structure, and control in terms of focus, extent and mechanisms), that is used to articulate strategies and achieve the desired results. Control as a holistic concept is empirically examined in this study. The empirics revealed a web of complex interactions and delicate relationships between the hard/economics and soft/behavioural elements underlying a holistic control package. The analysis also discovered that the contingency variables comprising a holistic control package are influenced by, and at the same time influence, other variables through changing the enacted settings that other factors created. This process is circular and creates multiple layers of interactions between the environments and different contingency elements. The in-depth understanding and the establishment of an integrative theory of UV control highlighting the unique environments in China at the current stage of development is the second major contribution that this research has made. Moreover, this case-based study is set out to fulfil a middle-range role in changing some aspects of the status quo by informing managers and fellow researchers of the significant subject of UV control in China. In summary, these are the main contributions of this research.
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Chen, Shiming. "Dimensions of international joint venture activity : the case of Taiwanese joint ventures in mainland China." Thesis, University of Leeds, 2003. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.396573.
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Geringer, J. Michael. "Criteria for selecting partners for joint ventures in industrialized market economies /." Thesis, Connect to this title online; UW restricted, 1986. http://hdl.handle.net/1773/8738.
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Kobernyuk, Elena. "International joint ventures in Russia : the influence of culture on alliance success." Thesis, Cardiff University, 2011. http://orca.cf.ac.uk/54229/.
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The second group suggests that non-equity IJVs in Russia adopt an organisational culture which is more similar to that of the partner, which has majority control, whereas, equity IJVs in Russia have a hybrid culture. IJVs with “foreign” and hybrid cultures are positively associated with IJV performance in Russia, whereas IJVs with an organisational culture similar to that of the Russian partner are negatively associated with IJV performance.
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Golesorkhi, Sougand. "A collateral based theory of international joint ventures: A n empirical investigation." Thesis, University of Manchester, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.488986.
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The traditional reasons advanced for the determination of equity contribution by JV partners include: the JVs contractual duration, cultural distance, competitive intensity local partner state ownership, country risk, and local partner alignment (Pan 1996). This thesis examines the determinations of the contractual equity contribution between a partners' equity contribution, the nature of their strategic assets, and their place in the value chain in in joint ventures (JVs), in particular international joint ventures.
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Tang, Qingliang. "Accounting issues in international joint ventures in the People's Republic of China." Thesis, University of Glasgow, 1992. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.261683.
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Mangwengwende, Tadiwanashe Mukudzeyi. "International joint ventures and firm value: an empirical study of South African partner firms." Thesis, Rhodes University, 2013. http://hdl.handle.net/10962/d1004174.
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This study investigates international equity joint ventures (IJVs) and South African partner firm value creation at formation. In addition, it tests whether four contentious formation characteristics, namely, the geographical location of the IJV partner, the level of economic development in the IJV partner’s home country, the level of equity held by the South African firm and the industry of the South African firm, can explain when South African IJVs are value enhancing and when they are value diminishing. IJVs are a popular business mode and an important channel for infrastructure and skills investment in developing countries. However, despite their popularity and potential social benefits, these IJVs are predominantly created by the decisions of private firms to collaborate with foreign firms and governments. Consequently the preservation and development of the IJV investment channel is dependent on the encouragement of private firm IJV participation. It is at uncovering potential tools to encourage IJV participation by South African firms that IJV firm value creation becomes important because it stands as a motivator for South African firms’ involvement in IJVs. Existing literature on IJVs and partner firm value has presented conflicting evidence with support for the views that they are value enhancing, value diminishing or of no immediate consequence to their partners’ firm value. Consequently, previous research offers limited firm value support for IJVs. For South African firms considering joint ventures and national policy makers determined to promote IJVs there is a need for an investigation of South African partner IJV firm value effects. Moreover, it is also necessary to test potential explanatory variables that may help to explain when the IJVs are value enhancing and when they are not as this will inform IJV contract negotiations and how limited national government resources are used to promote IJVs. In order to assess firm value creation for South African firms this study performed event studies on IJV formation announcements from 1998 to 2011 using daily share returns from the Johannesburg Securities Exchange taking care to incorporate recent developments in the event study methodology. The study found that while the market responds to IJV announcements, its responses do not, on average, reflect that IJVs are firm value enhancing for their South African partners at formation. This stands in contrast to considerable empirical literature and IJV firm value creation theory. In addition, factoring in formation characteristics, argued to potentially help explain cases of value creation and destruction from IJVs, provided limited explanation for positive and negative wealth effectsfor South African firms entering IJVs. This result has important value for IJV participants, national economic policy makers and IJV researchers. For IJV participants and national policy makers, the results caution unfettered entry/support for IJVs and challenge the role of equity distribution in determining the value of the IJV to its partner firms. For IJV researchers, the results present new evidence questioning IJV firm value creation at formation and provide a potential explanation for the conflict in previous IJV research. The study makes four key contributions to the existing knowledge of IJV firm value creation. Firstly, it assesses IJV wealth effects for the hitherto untested South African IJVs. Secondly, in doing so it adds a new data set (South African IJVs) to the current IJV literature. Thirdly, in reviewing the literature on IJV firm value creation the study presents a disaggregated model of IJV firm value creation from which to develop IJV research and potentially solve the persistent conflict in empirical results on IJV partner wealth effects. Finally, it informs future South African IJV agreements by uncovering factors that influence and do not influence partner wealth effects for South African firms.
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Stämpfli, Simon Florian, and Nikita Vladimirov. "Why do firms convert their joint ventures into wholly owned subsidiaries? : A multiple case study of Swedish firms' joint ventures in India and China." Thesis, Linnéuniversitetet, Institutionen för marknadsföring (MF), 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-67079.
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International Joint Ventures are important for international Business. In recent years, firms started to convert their International Joint Ventures into Wholly Foreign Owned Enterprises. However, there is only a limited understanding for the conversion of International Joint Ventures into Wholly Foreign Owned Enterprises. The purpose of this study is to offer reasoning for this phenomenon. The theoretical framework that was developed for this thesis is based on the FDI Motive theory and the OLI framework. The results of this study suggest, that two aspects of the FDI Motive theory have an effect on the International Joint Venture conversion into a Wholly Foreign Owned Enterprise. For the market seeking motive, firms believe to be able to better maximize their market share by taking full control over the subsidiary. Also, the resource seeking motive is in this thesis identified as an important reason for the conversions, as companies see especially advantages in taking full control over labour in those markets. However, the Strategic Asset Seeking and Efficiency Seeking motives are not included in the study. Also, several changes of OLI factors were identified as impactful for the conversion. The decrease of cultural difference between home and foreign market, the increase of perception of market size, gaining of international experience as well as the decrease of risk in the foreign market are all factors which are important for the reasoning of converting an International Joint Venture into a Wholly Foreign Owned Enterprise. In addition, no correlation between the conversion and the enforcing of contracts or the size of the company were observed in this study. Furthermore, this thesis suggests that there are also other factors that were not identified by the theoretical framework. Lack of trust in the partner, liberalisation of governmental regulations, bad financial performances of the International Joint Ventures and economic crises are aspects that have an influence on conversions. The findings of this thesis will help Swedish based firms to understand the phenomenon of firms converting their International Joint Ventures into Wholly Foreign Owned Enterprises in India and the People’s Republic of China.
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Vaubel, Marc-Alexander. "Joint Ventures im Konzernabschluss des Partnerunternehmens : Grundsätze zur Einbeziehung von Joint Ventures in den Konzernabschluss des Partnerunternehmens nach handelsrechtlichen Vorschriften im Vergleich zu den Regeln des IASC /." Düsseldorf : IDW-Verlag, 2001. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=009419886&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Liu, Li. "Innovation in China : the contribution of Sino-Western joint ventures." Thesis, Royal Holloway, University of London, 2011. http://repository.royalholloway.ac.uk/items/5182a33a-0be5-e55f-67e5-fea9a594242b/9/.
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Since China embraced the “Open Door” policy in 1978, innovation has been an increasingly important factor for the Chinese economy. China is now the third largest country in the world league table of patent applications. China has also received large amounts of foreign direct investment, much of it from major Western innovative companies. In the earlier years of the Open Door policy, much of the involvement of Western companies was through joint ventures. International joint ventures are still important, and it is believed have substantially enhanced China's innovative capability. It is the contention of this research that there is a direct correlation between the arrivals of Sino-Western JVs and China's increased innovation capabilities. This is an important area of study as China moves towards becoming a developed economy. The gap in research at present is in applying innovation theory to China and to JVs. The thesis explores the contribution of Sino-Western JVs to the development of China's innovative capabilities. A model of the innovation process is developed, and eight important factors that are considered to enhance a company's innovative capacity, are derived from the model. The factors, expressed as propositions, are: 1: Becoming part of a wide innovative network in its industry 2: Taking part in an open innovation system in its industry 3: Relating closely to universities, and particularly their research laboratories 4: Relating closely to research institutions 5: Developing a social atmosphere conducive to innovation 6: Developing a strong strategic planning system with innovation as a focus 7: Having innovation as a primary objective of both partners at the outset of the joint venture 8: Focusing on developing intellectual property To investigate whether these propositions were accepted by Sino-Western joint ventures, 40 semi-structured interviews were conducted in ten international (Sino-western) joint ventures in China. In general the interviews provided support for the propositions. However, some reservations were expressed. Executives were reluctant to engage in open (collaborative) innovation, preferring to seek patents for developed intellectual property. They also perceived the main objective of the Western partners to be commercial success rather than innovation, although the Chinese partners were very much innovation-orientated. The research contributes to our understanding of the contribution of Sino-western JVs to the innovative capability of Chinese companies, and provides support for most of the propositions identified in the literature. Respondents remarked that most of the propositions would apply also to self-standing companies in China, and suggested that joint ventures could stimulate innovation in indigenous Chinese companies. In addition to providing a historical overview of the development of innovation in China, developing an innovation process model and testing it in the Chinese context, the thesis makes important policy and practical recommendations to Chinese organizations.
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Hoeck, Michael. "Cooperation and technological endowment in international joint ventures: German industrial firms in China /." Köln : Kölner Wissenschaftsverl, 2008. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=017048876&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Sha, Nana, and Yun Lin. "The factors affect the survival of international joint ventures involving Chinese family business." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, JIBS Entrepreneurship Centre, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-45622.
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The aim of this paper is to explore what factors affect the survival of international joint ventures involving Chinese family business. The results show that “Wulun” ， “ Guanxi -based trust”, and communication as the main factors, control, and “Mianzi” could influence on the survival of IJV. Among them, “Wulun,” “Guanxi-based trust,” and “Mianzi” derived from Confucian culture.