Journal articles on the topic 'Joint ventures'
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1
Swift, Kent. "An Examination of Joint Ventures between Nonprofit Hospitals and For-Profit Businesses." ATA Journal of Legal Tax Research 1, no. 1 (January 1, 2003): 41–53. http://dx.doi.org/10.2308/jltr.2003.1.1.41.
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Nonprofit hospitals have increasingly found that it is to their advantage to enter into joint ventures with for-profit entities as a means of raising capital and/or obtaining expertise. A number of IRS letter rulings, revenue rulings, and court cases have addressed the issue of the types of joint ventures between nonprofit hospitals and for-profit entities that are within the hospital's charitable mission and those joint ventures that cross the line and would cause the hospital to lose its status as a tax-exempt entity under I.R.C. §501(c)(3). An examination of this literature suggests that nonprofit hospitals can avoid jeopardizing their charitable status when entering into joint ventures with for-profit entities by (1) requiring the joint venture operating entity to provide care to a broad segment of the community; (2) maintaining control over the joint venture, preferably by controlling a majority of the positions on the operating entity's board of directors; and (3) crafting joint venture agreements such that they place primary importance on the venture's charitable mission.
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Hoogendoorn, Martin. "Joint Ventures." Maandblad Voor Accountancy en Bedrijfseconomie 83, no. 12 (December 1, 2009): 390–91. http://dx.doi.org/10.5117/mab.83.13868.
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Een veel voorkomende wijze van samenwerking tussen ondernemingen is het uitvoeren van activiteiten in de vorm van een joint venture. Een joint venture is bijna altijd een afzonderlijke juridische entiteit. De partners in de joint venture voeren gezamenlijk de zeggenschap uit. In internationaal verband is een joint venture met een lokale partner soms de enige mogelijkheid om in het land voet aan de grond te krijgen. Een joint venture is geen nieuw verschijnsel, maar niettemin was er voldoende reden voor de redactie van het MAB om hieraan een themanummer te wijden. Juist omdat joint ventures inmiddels zo belangrijk zijn geworden, is het zinvol om actuele bedrijfseconomische en accountancy-aspecten met betrekking joint ventures in kaart te brengen. Dat gebeurt in vier artikelen, vanuit vier verschillende invalshoeken: strategie en economie, management control, externe verslaggeving, en accountantscontrole.
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Vennat, Michel. "Joint venture dissolution." Revue générale de droit 19, no. 4 (April 5, 2019): 841–48. http://dx.doi.org/10.7202/1058499ar.
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Joint ventures invariably encounter with changes in circumstances and conditions that may either frustrate the original goals of the joint venturers or render the undertaking unprofitable or unmanageable. That is why there are no more important provisions of the joint venture agreements than those which govern its termination. Relating to those provisions, the author will refer to considerations that will apply whatever the form of the joint venture.
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Ibels, David, Marc Van Grondelle, Jonathon Peacock, and Jonathan Smith. "Making joint ventures work." APPEA Journal 53, no. 2 (2013): 464. http://dx.doi.org/10.1071/aj12075.
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No LNG capital project in Australia can survive without excelling in joint ventures; yet, the practicalities of them are often overlooked. The Australian oil and gas market has some of the most complex joint-venture arrangements in the world, and there is much we can learn from a global perspective about how to make them work. Too often, joint ventures are forced marriages between two or more parties who misunderstand each other and have widely differing aims. Organisations often rely too much on the joint-venture agreement, devote too few resources to the venture itself, and pay scant attention to any warning signs of trouble. The authors see that international oil companies typically have about 30–40% of their portfolios tied up in joint ventures. This is set to grow to about 70–80% during the next 5–8 years as they enter new territories in the hope of securing new resources. Although joint ventures are familiar ground for oil and gas companies, such operators often struggle to make them work. Cost overruns, schedule delays, compliance issues, renegotiations, and erosions of value are common. There are, however, ways to make joint ventures work more effectively, including: knowing what is expected of all parties and monitoring these expectations; improving transparency of information between joint-venture parties; ensuring expectations are realistic and continuing to validate them; paying particular attention in the first year of a joint venture; proactively strengthening existing joint ventures; and, staffing and resourcing joint ventures with care.
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Brockett, Richard. "Recent developments in joint venture jurisprudence." APPEA Journal 56, no. 1 (2016): 127. http://dx.doi.org/10.1071/aj15010.
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It is of vital importance to joint venturers and operators to understand and operate within the boundaries of their contractual framework. A number of recent cases relating to joint venture arrangements have been determined by both Federal and State courts. While each case reviewed is determined on the basis of its underlying facts and circumstances the judgments demonstrate how the courts may interpret and apply standard joint venture provisions. Importantly, the principles enunciated in these judgments may not align with how joint venturers understand their contractual arrangements. This paper reviews recent developments impacting joint ventures and identifies trends that will be relevant for the industry as a whole.
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Hoffjan, Andreas, and Martin Karlowitsch. "The Balanced Scorecard as a Framework for Measuring International Joint Ventures Performance." Indonesian Management and Accounting Research 12, no. 2 (July 5, 2013): 67–88. http://dx.doi.org/10.25105/imar.v12i2.1170.
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International joint ventures present a factor that becomes more and more important in the commercial activities of companies. However, the development of systems for performance measurement of joint ventures remains largely unsolved. In this article, the Balanced Scorecard is adjusted to the requirements of joint ventures. This concept is especially appealing for joint ventures, because mere financial performance measurement is absolutely inadequate, if non-financial goals are pursued by the joint venture-partners. It reduces the complexity of the decision-making process by its focus on critical success factors and their clustering into four perspectives. As the utilization of synergies and soft factors like mutual trust and harmony are crucial for the success of joint ventures, the authors suggest the addition of a cooperation perspective to incorporate these issues. The concrete application and the design of the different perspectives of a Balanced Scorecard are illustrated by the example of the Chinese-German joint venture Ameco.Key words : international joint venture; balanced scorecard; performance measurement, case study
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Grant, Brad. "Joint Ventures in the Canadian Energy Industry." Alberta Law Review 50, no. 2 (December 1, 2012): 373. http://dx.doi.org/10.29173/alr254.
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This article explores the concept of a joint venture and the use of joint venture agreements in the Canadian energy industry. The discussion is particularly timely as there have been a number of significant joint ventures in the Canadian energy industry, particularly with respect to Asia Pacific investors who have spent billions of dollars to lock up parts of Canada’s oil and gas reserves. With a growing demand for energy among Asia Pacific countries, the article suggests that joint ventures will continue to be significant in the development of Canada’s energy industry. This article provides an overview of the different forms of joint ventures (the corporation, partnership, and contractual joint venture) and the risks and benefits associated with each. This article also addresses some of the key issues with respect to joint ventures generally.
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Beamish, Paul W. "The Characteristics of Joint Ventures in the People's Republic of China." Journal of International Marketing 1, no. 2 (June 1993): 29–48. http://dx.doi.org/10.1177/1069031x9300100203.
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This paper compares the characteristics of international equity joint ventures in the People's Republic of China (PRC) with joint ventures in developing country market economies. The characteristics of Sino-foreign joint ventures were derived from twelve studies published since 1986, including the author's new sample. Twelve joint venture characteristics are reviewed along dimensions of design, management and performance. Joint ventures in PRC are frequently used, created due to government pressure and with government partners, and often formed with partners from ethnically related countries. Further, many intended joint ventures are never implemented, and those that are implemented have often been set up for a predetermined duration. The foreign partner most commonly has a minority equity position, and those who have used split control have seen stronger performance. Overall joint venture stability has been high, but is expected to decline, and foreign partner satisfaction with performance is low.
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Prof. J.M. Ramanuj, Prof J. M. Ramanuj. "Joint Ventures in India." Global Journal For Research Analysis 3, no. 7 (June 15, 2012): 92–93. http://dx.doi.org/10.15373/22778160/july2014/113.
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Salk, Jane E. "Gérer une joint venture internationale." Décisions Marketing N° 10, no. 1 (January 1, 1997): 7–14. http://dx.doi.org/10.3917/dm.010.0007.
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Participer à la gestion d’une joint venture multinationale est une expérience aussi frustrante que gratifiante. Les joint ventures sont souvent fragiles, difficiles à gérer et exposées à toutes sortes de problèmes. Aussi, cet article s’appuie sur l’étude longitudinale de trois cas de joint ventures afin d’étudier comment les interactions initiales, et tout particulièrement certaines caractéristiques structurelles et certains processus sociaux, affectent les relations entre les managers de la joint venture.
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Ryu, Min Ho, Jieun Park, and Kyu Tae Kwak. "Joint Ventures between Online Portals and News Publishers: Will they be an Alternative to Symbiosis?" Sustainability 12, no. 8 (April 17, 2020): 3296. http://dx.doi.org/10.3390/su12083296.
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Around the world, legacy news publishers are suffering from the deep decline of revenues and face the challenge of survival. As the situation continues, conflicts between online portal and news producers are also intensifying. Under these circumstances, Naver, the biggest internet portal in Korea, and several Korean news publishers have begun to seek a new breakthrough—media joint ventures. The joint venture between online portals and news publishers is a unique collaboration model that has not been found in other countries. This study investigates the motivation of the media joint ventures and evaluates the performance. To do this, the study suggests the sustainability of media joint ventures. This model consists of five major categories of media joint ventures’ performances, based on their strategic, financial, learning, managerial, and social influence aspects. After conducting an in-depth interview of media joint ventures and a focus group interview with nine experts from the media industry and business scholarships, the study shows that the media joint ventures could be a new alternative for both portals and news publishers. However, there were some differences in the sustainability evaluation of the operating body of the joint venture and outside experts.
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Jafari, Shahab, and Elahe Jahangard. "Dubious Allocation of Liability in the ICC Model Joint Venture Contract." Business Law Review 43, Issue 5 (October 1, 2022): 210–15. http://dx.doi.org/10.54648/bula2022031.
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Construction joint ventures are amongst the most common instances of open joint ventures. In 2018, the International Chamber of Commerce (ICC) published a model open joint ventures contract for construction projects to provide businesses with a balanced form of the agreement, enabling them to work together as joint operators. While the model contract provides a well-structured framework to regulate the relationship between the parties, the authors of this article are of the opinion that the basis for liability among joint venture members in the ICC Model Contract is dubious, if not wholly fallacious. Although much of what we say on the issue of liability of joint venture members in this article can equally be applied to all types of open joint venture agreements, or even close joint venture contracts, our main focus in this article is to scrutinize and criticize the proposed liability clause in the ICC Model Contract.
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Sansing, Richard C. "Joint Ventures between Nonprofit and For-Profit Organizations." Journal of the American Taxation Association 22, s-1 (January 1, 2000): 76–88. http://dx.doi.org/10.2308/jata.2000.22.s-1.76.
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This paper examines the consequences of allowing a nonprofit organization to form a joint venture with a for-profit organization. Three tax regimes are considered: prohibiting all such joint ventures, allowing all such joint ventures, and restricting joint ventures between nonprofit and for-profit entities to those controlled by the nonprofit organization. The paper derives the equilibrium profit-sharing rule, output decision, and organizational form choice under each tax regime. Joint ventures can create both private and social benefits by reducing production costs. They can also create private benefits and social costs by reducing competition. Prohibitions or restrictions on joint ventures can either increase or decrease social welfare depending on whether the production cost effect or the competition effect is more important.
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Minja, Steven, Geraldine Kikwasi, and Wellington Thwala. "A Study of Joint Venture Formation between Construction Organizations in Tanzania." Australasian Journal of Construction Economics and Building - Conference Series 1, no. 2 (February 5, 2013): 32. http://dx.doi.org/10.5130/ajceb-cs.v1i2.3164.
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Formation of joint ventures between construction companies is one of the recent efforts in combating contractors problems in Tanzania and addresses one of the key challenges facing the construction industry today in the country especially when large and complex projects are involved. The main objective of the research is to examine the formation of joint ventures in Tanzania, specifically to: study joint ventures formation procedures; identify criteria in selection of joint venture partner; and identify risks associated with and challenges facing joint venture undertakings in Tanzania. The study adopted a descriptive research design and purposive sampling. Multiple sources of evidence was used to collect information mainly literature review, questionnaires and interviews. Key findings reveal that legal and statutory requirements in the formation of joint ventures include registration by Business Registration and Licensing Agency (BRELA), Contractors Registration Board (CRB) and under Registration of Documents Act (RDA). All JV respondents were registered by BRELA and CRB which are mandatory but only 7 were registered by RDA. Most important factors considered during formation of JVs are: contract agreement, financial stability and commitment while key risks associated with JVs are cultural and social differences, delays in approvals and financial risks. In addition, main challenges facing joint ventures are: identification of possible risks and joint venture agreement interpretation. The study concludes that formation of JVs have been addressing some of emerging challenges facing local construction organizations despite the risks and challenges that exist. The study recommends that firms entering joint ventures should explore the benefits of registering with RDA and ensure risks associated with their JV are properly assessed. The study also recommends introduction of an incentive scheme through Tanzania Investment Centre to grant tax relief for foreign contractors going into joint venture with local construction firms.
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Abdul-Aziz, A. R., and S. Y. Cha. "Patterns in strategic joint ventures of selected prominent cross-border contractors for 1999–2003." Canadian Journal of Civil Engineering 35, no. 9 (September 2008): 1009–17. http://dx.doi.org/10.1139/l08-046.
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Scholars have noted that cross-border businesses have been increasingly using alternative forms of overseas involvement instead of going-it-alone. A study was conducted to document and subsequently identify possible patterns from the strategic joint ventures adopted by selected contractors that appeared in the Engineering News Record’s annual top 225 international contractors survey from 1999–2003 inclusively, which was also the framed study period. The modes of strategic joint ventures that became the focus of the study were equity joint venture companies, serial joint ventures, and long-term joint venture contracts. Data was collected entirely from secondary sources, which were triangulated to remove possible biases. The study found patterns in terms of frequency of the various modes, nationality of partners, markets the joint ventures served, and industries the partners belonged to. The findings add to our knowledge on the behaviour of cross-border contractors.
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Bach, Albrecht. "Gemeinschaftsunternehmen nach dem „Ost-Fleisch“ Beschluss des BGH." Zeitschrift für Wettbewerbsrecht 1, no. 2 (May 1, 2003): 187–99. http://dx.doi.org/10.15375/zwer-2003-0204.
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Abstract The annotated decision is a landmark case on joint ventures under German competition law. The court confirmed that rules on merger control and on the prohibition of anti-competitive behaviour are two separate sets of rules which might both apply to joint ventures. Joint ventures are therefore submitted to a two stage test under sections 1 and 36 et seq. GWB as long as they are cooperative in nature. The distinction between cooperative and concentrative joint ventures is regarded to be a "helpful tool" to limit the scope of application of section 1 GWB (prohibition of anti-competitive behaviour). For practical purposes the BGH considers section 1 GWB to be blocked by the rules on merger control if a joint venture' is concentrative. The BGH’s definition of concentrative joint ventures uses criteria similar to those applied in the Commission's 1994 notice on concentrative and cooperative joint ventures. The court rightly held that the joint ventures autonomy is not material for distinguishing cooperative and concentrative joint ventures. In the present case, the parents were actual competitors in the product and geographical markets of the joint ventures under formation. It was therefore likely that competition between the parents would be reduced. Nevertheless, the court is criticized for relying only on the cost reduction intended by the parents to deduce their interest in coordinating competitive behaviour. Possible use of the joint venture as a device for coordination was held to be sufficient to constitute an infringement of section 1 GWB.The decision raised specific procedural questions as the court of appeal had issued separate decisions dealing with the respective application of merger control rules and the prohibition of cartels. The BGH held that a decision prohibiting the joint venture on both grounds could not form the object of separate court decisions. Actual german competition rules do not provide for both sets of rules to be applied in the same proceedings. However, under Regulation 1/2003 the Bundeskartellamt will be forced to apply Article 81 EC and German merger control rules simultaneously within the time frame for merger cases. The current reform of german competition law should provide for simultaneous application in purely national cases as well.
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Ding, Daniel Z. "Control, Conflict, and Performance: A Study of U.S.-Chinese Joint Ventures." Journal of International Marketing 5, no. 3 (September 1997): 31–45. http://dx.doi.org/10.1177/1069031x9700500304.
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This study was designed to test empirically the linkages between control, conflict, and performance using a sample of U.S.-Chinese joint ventures established in China during the period of 1979–1989. Data were gathered through a questionnaire survey among U.S. managers and personal interviews with both U.S. and Chinese general managers in the selected joint ventures. Results showed that dominant managerial control exercised by the foreign partner had a positive impact on the perceived joint venture performance. The study identified major areas in which conflict between joint venture partners occurred. Empirical evidence was found that conflict between joint venture partners significantly hindered joint venture performance.
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Mertz, Leslie. "Joint Ventures." IEEE Pulse 10, no. 6 (November 2019): 4–8. http://dx.doi.org/10.1109/mpuls.2019.2958025.
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Shapiro, Carl, and Robert D. Willig. "On the Antitrust Treatment of Production Joint Ventures." Journal of Economic Perspectives 4, no. 3 (August 1, 1990): 113–30. http://dx.doi.org/10.1257/jep.4.3.113.
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The U.S. Congress is currently considering several bills to alter the antitrust treatment of collaborative production activities among rival firms. This paper sketches the tradeoffs involved in altering U.S. antitrust treatment of joint venture production activities among rival firms. This requires understanding the nature, benefits, difficulties and dangers to competition of production joint ventures; identifying their degrees of prevalence in the U.S. and elsewhere; summarizing the current antitrust treatment of joint ventures; and analyzing the interactions between U.S. competitiveness and antitrust treatment of production joint ventures. We discuss these topics below, after which we assess some proposed alterations to the antitrust treatment of production joint ventures. We conclude that current antitrust law and enforcement policy with regard to production joint ventures are working quite well and hardly can be considered a hindrance to innovation or “competitiveness.” We support some modest changes in antitrust law that may serve to encourage pro-competitive joint production ventures, but we do not endorse the more sweeping legislative changes by Jorde and Teece in this issue.
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Yu, Seon Bong. "A Study on Major Types of Foreign Direct Investment in China and Legal Considerations of Joint Venture Contracts." International Area Review 1, no. 1 (December 1997): 134–50. http://dx.doi.org/10.1177/223386599700100109.
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Since 1979 when the process of economic reforms started, foreign direct investment in China has increased dramatically as substantial legal and economic reforms have made foreign direct investment more predictable and more profitable. It is very crucial for foreign investors to select a proper type of foreign direct investment to be successful in China. Although there are a number of types of foreign investment, including companies limited by shares, most foreign investment enterprises have taken the form of joint ventures. In practice, a major consideration that most foreign investors face is how to successfully conclude a joint venture contract in conjunction particularly with antitrust issues and laws governing joint ventures. Thus, this paper examines major types of foreign direct investment, focusing on joint ventures, and also analyzes legal considerations of joint venture contracts, emphasizing their significance in foreign direct investment.
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Wan-Ghazali, Wan Ramiza, Nor Aziah Abdul Manaf, and Idawati Ibrahim. "TAXING AS JOINT VENTURE OR PARTNER?" International Journal of Entrepreneurship and Management Practices 6, no. 23 (December 28, 2023): 224–40. http://dx.doi.org/10.35631/ijemp.623015.
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The Petroleum Income Tax Act of 1967 (PITA) is a reference point for taxation during the implementation of the Production Sharing Contract regime in Malaysia. The term person under the purview of the PITA encompasses partnerships, which, includes joint venture. The present study aims to elucidate the intricate interplay of relationships and transactions within a joint venture, with a specific focus on comprehending the underlying rationale for considering the entire joint venture as the chargeable person under the PITA, as opposed to taxing individual partners separately. The methodology is based on Research Onion Framework with qualitative research and inductive approach leveraging on action research. Analysing literature review to delves into the structural of the joint ventures and the preparatory measures aimed at ensuring the equitable participation of the involved parties in the joint venture arrangement, particularly in managing various alternative activities that may arise alongside the primary Joint Operating Agreement (JOA) activities, often manifesting as sole risk projects. The engagement in various non-monetary activities and the collective contributions of all partners, particularly in mitigating risks and ensuring the success of upstream exploration and production, are regarded as contributions that may not lend themselves to a straightforward division, which support the joint ventures as a chargeable person. The outcomes derived from this methodological approach culminate in a model that elucidates the rationale for taxing joint ventures as opposed to individual partners within the joint venture. This clarification is essential for all involved parties, including taxation agencies, industry stakeholders, and policymakers. Novelty: The study represents an initiative within Malaysia, to explore the interpretation of the PITA. The motivation was sparked by inquiries from industry stakeholders, who expressed apprehensions regarding the tax assessment processes, whether in the context of joint ventures or individual taxpayers.
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Chernyavs'ka, Iryna. "DEVELOPMENT OF THE MODEL OF ENTERPRISE GROWTH ON THE BASIS OF TECHNOLOGY TRANSFER ACTIVATION IN THE FORM OF JOINT ENTREPRENEURSHIP." ECONOMIC BULLETIN OF THE DNIPROVSK STATE TECHNICAL UNIVERSITY, no. 1(2) (June 2, 2021): 70–76. http://dx.doi.org/10.31319/2709-2879.2021iss1(2).232579pp70-76.
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Technology transfer is an important element in ensuring the growth of technological development and competitiveness of the modern enterprise. Joint venture as one of the specific forms of technology transfer gives participating companies the opportunity to attract significant investment, new management technologies, stimulates the production process of competitive products and facilitates technological exchange. Today, the problem of participation in various forms of joint ventures, which is an appropriate method of achieving competitive advantage through cooperation, is becoming relevant for the development of domestic enterprises. Solving problematic issues requires detailing the limitations of joint ventures and researching the areas of common interests of its subjects.
The aim of the study is to develop an effective model of intensifying technology transfer in the form of joint ventures based on the interaction of partner entities. The spheres of independent interests of the subjects of joint venture are researched and determined, the factors of guaranteed result are determined. The basis for the analysis was the scientific studies of domestic and foreign scientists on this issue. The theoretical and methodological basis of the study is a set of principles and methods of scientific research: the principle of systematization and theoretical generalization, methods of structural and functional analysis.
The results of the study showed that the conflict of interests of the subjects of joint venture arises in situations where there is a tendency to integration and the subjects expect to get a certain guaranteed result. It has been proved that a necessary condition for ensuring mutually beneficial cooperation of individual joint ventures is the existence of a guarantee of useful results, and partnership within the joint venture is based on common interests and goals to be achieved in the results of activities and aimed at consolidating cooperation of individual participants through joint ventures. The implementation of the developed model of enterprise development based on the intensification of technology transfer, which describes the continuous changes in the process of functioning of the form of joint venture over time, can have a useful effect on its successful operation. The practical value of the model is that individual entities, regardless of their own economic policies and the nature of their interests, have a common area of compromise in which they can conduct joint ventures.
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Julian, Craig C. "Joint Venture Conflict: The Case of Thai International Joint Ventures." Journal of Asia-Pacific Business 9, no. 1 (April 21, 2008): 6–27. http://dx.doi.org/10.1080/10599230801971242.
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Fey, Carl F., and Paul W. Beamish. "Joint venture conflict: the case of Russian international joint ventures." International Business Review 9, no. 2 (April 2000): 139–62. http://dx.doi.org/10.1016/s0969-5931(99)00034-7.
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Yavaş, Uğur, Doğan Eroğlu, and Sevgin Eroğlu. "Sources and Management of Conflict: The Case of Saudi-U.S. Joint Ventures." Journal of International Marketing 2, no. 3 (September 1994): 61–82. http://dx.doi.org/10.1177/1069031x9400200304.
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Joint ventures predominate in business formats used by multinational corporations in developing countries. It is believed that joint ventures in these countries suffer more conflicts and performance problems than joint ventures in developed countries. However, there is little empirical research into understanding the nature of joint venture problems in less developed countries. Furthermore, what little research exists examines the issue from the perspective of the parent company at the expense of the local partner's point of view. The study reported here is intended to fill this void. Specifically, the study examines severity of various conflicts in Saudi-U.S. joint ventures operating in Saudi Arabia from the perspective of Saudi partners. Three critical sources of conflict are identified and analyzed in detail. The discussion concludes by recommending a dynamic approach to conflict management with a special emphasis on developing communication capabilities.
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Kent, David H. "Joint ventures vs. Non-joint ventures: An empirical investigation." Strategic Management Journal 12, no. 5 (July 1991): 387–93. http://dx.doi.org/10.1002/smj.4250120505.
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Becker, Jan Dierk, and Dominik Reeb. "Joint Ventures: Joint Ventures im verstärkten Fokus der Hinzurechnungsbesteuerung." Internationale SteuerRundschau 13, no. 4 (April 1, 2024): 117–23. http://dx.doi.org/10.9785/isr-2024-130401.
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Shilling, James, and Charles H. Wurtzebach. "International Real Estate Review." International Real Estate Review 18, no. 2 (June 30, 2015): 241–76. http://dx.doi.org/10.53383/100201.
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We study the relative performance of private equity real estate joint ventures by using new data that connect investment style, ownership structures, and quarterly cash flows for a large sample of sold properties from 1978-2009. The expansion into joint ventures by private equity core, value-added and opportunistic real estate funds since 1990 has been significant. This paper tests three hypotheses. First, do real estate joint ventures experience higher returns? Second, are investment fund managers generally willing to take on riskier projects in forming joint ventures? Third, are joint ventures formed to procure new business and grow assets under management and maximize fund fees? Tests of these hypotheses are performed by using quantile regressions, to determine whether the returns on joint venture projects are more concentrated in the tails of the return distribution ¡V particularly in the left (low end) tail ¡V than are whole assets. We reject the hypothesis that real estate joint ventures experience abnormal returns overall. However, we do find evidence that there is a lot more risk taking by value-added funds relative to core funds. Our evidence is also consistent with more risk taking by large investment fund managers vs. small investment fund managers.
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Meyers, Roger. "Risky Ventures: The Impact of IRS Health Care Joint Venture Policy." University of Michigan Journal of Law Reform, no. 42.2 (2009): 481. http://dx.doi.org/10.36646/mjlr.42.2.risky.
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IRS oversight of joint ventures between exempt and for-profit organizations has undergone substantial change over the past thirty years. This change has important consequences for the health care industry, where joint ventures have grown increasingly common. In the face of unclear guidance and aggressive enforcement of exemption-policing tools such as the private benefit doctrine and the control test, a hospital risks revocation of its tax-exempt status, or liability for unrelated business income tax, when it engages in a joint venture directly. It may be able to eliminate this risk by operating the same joint venture through a for-profit subsidiary; however, such a structure may be less constrained to serve a charitable mission. Thus, the Service's approach to policing tax-exempt status creates incentives to structure joint ventures in a way that may ultimately reduce charitable care. This Note argues that such incentives are undesirable and avoidable, and proposes several reforms that would help to eliminate them.
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Slattery, P. D., and G. Radford. "THE ENFORCEABILITY OF TYPICAL JOA DEFAULT PROVISIONS." APPEA Journal 35, no. 1 (1995): 783. http://dx.doi.org/10.1071/aj94055.
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Courts will not always give effect to the terms of JOA default provisions which require forfeiture of a defaulting party's joint venture interest. However, given the nature of resource joint ventures, the circumstances in which relief against forfeiture will be granted are rare.Forfeiture of a joint venture interest will not be enforced if it is penal in nature. Typical JOA forfeiture clauses are unlikely to be penal in nature as their primary object is to facilitate the continuation of the joint venture project.If two or more alternative and inconsistent remedies are available to non-defaulting joint venturers, they must elect which remedy they wish to pursue. We do not believe typical JOA default remedies present inconsistencies which require an election.In recent years, Australian courts have demonstrated a willingness to imply terms of reasonableness into contracts to avoid a harsh or unjust outcome. We do not expect this trend to affect typical JOA default clauses.
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Oyedeji, Joseph Oyewale. "Evaluation of Joint Ventures in Property Development in Lagos, Nigeria." Journal of Surveying, Construction & Property 11, no. 1 (June 26, 2020): 30–37. http://dx.doi.org/10.22452/jscp.vol11no1.3.
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Joint venture is a new financing model adopted in property development. However, there is little or no research in evaluating the model which this study aimed at achieving. The study populations are the members of Real Estate Developers Association of Nigeria in Lagos. Data were gathered through structured questionnaires administered to the study population. Gathered data were presented and analyzed through tables, chats and likert scales. Findings from the study revealed that residential property is the class of property mostly developed through joint venture in the study area. Also, the most prevalent parties that go into a joint venture agreement in the study area are; private property developer and financial institutions and the least prevalent are private property developers and the government. Financing is the most important term in a joint venture agreement in the study area and the least important term is acquisition of equipment. Finally, financing is the most prevalent problem of joint venture in the study area and breach of joint venture agreement is the least. Recommendations were made on how to solve joint ventures problems in property development. Also, there is need for further research on the nature of relationship between parties going into joint ventures.
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Bashayreh, Mohammad Hussein. "The Treatment of Unregistered Commercial Joint Ventures in Jordanian Law." Arab Law Quarterly 23, no. 1 (2009): 59–103. http://dx.doi.org/10.1163/157302509x395641.
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AbstractJoint ventures are common in Jordan, especially in the construction sector. Local firms and foreign entrepreneurs use them for different legal and competition considerations. However, joint ventures are not regulated as such, hence their disputable legal characterisation. Jordanian courts treat commercial joint ventures as valid companies with juridical personalities regardless of incorporation formalities. Courts apparently take this as a rule of law. Relevant cases reveal inconsistency and are not wholly consonant with the law. While judicial creativity may be classifying joint ventures as companies sui generis, this article seeks to establish that this is incorrect. The nature of a joint venture should rest on the underlying agreement, which may envisage a general partnership, a silent company, or another scheme. Existing legislations are satisfactory as this article explains. Accordingly, the judicial approach should be abandoned to avoid current uncertainties and to attain predictability of consistent legal solutions.
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Beamish, Paul W., and Nathaniel C. Lupton. "Managing Joint Ventures." Academy of Management Perspectives 23, no. 2 (May 2009): 75–94. http://dx.doi.org/10.5465/amp.2009.39985542.
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Jagersma, P. K., and J. Bell. "Internationale joint ventures." Maandblad Voor Accountancy en Bedrijfseconomie 66, no. 7/8 (July 1, 1992): 361–69. http://dx.doi.org/10.5117/mab.66.20636.
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Caloghirou, Yannis, Stavros Ioannides, and Nicholas S. Vonortas. "Research Joint Ventures." Journal of Economic Surveys 17, no. 4 (September 2003): 541–70. http://dx.doi.org/10.1111/1467-6419.00204.
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Albrecht, Maryann H., Anthony M. Pagano, and Palin Phoocharoon. "International Joint Ventures." Journal of Euromarketing 4, no. 3-4 (April 24, 1996): 89–127. http://dx.doi.org/10.1300/j037v04n03_07.
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Shenkar, Oded, and Yoram Zeira. "International Joint Ventures:." Journal of Global Marketing 5, no. 1-2 (November 22, 1991): 145–61. http://dx.doi.org/10.1300/j042v05n01_10.
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Chen, Zhiqi, and Thomas W. Ross. "Buffer joint ventures." International Journal of Industrial Organization 73 (December 2020): 102613. http://dx.doi.org/10.1016/j.ijindorg.2020.102613.
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Cain, Kathleen. "Joint Ad-Ventures." Community & Junior College Libraries 10, no. 4 (June 2002): 63–70. http://dx.doi.org/10.1300/j107v10n04_07.
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Sturmey, S. G. "Maritime joint ventures." Marine Policy 9, no. 2 (April 1985): 158–59. http://dx.doi.org/10.1016/0308-597x(85)90008-9.
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Park, Seung Ho, and Dongcheol Kim. "Market valuation of joint ventures: Joint venture characteristics and wealth gains." Journal of Business Venturing 12, no. 2 (March 1997): 83–108. http://dx.doi.org/10.1016/s0883-9026(96)00036-5.
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McIsaac, Nicholas J. "Corporate Tax Planning: Choosing a Vehicle for Resource Business Ventures." Canadian Tax Journal/Revue fiscale canadienne 70, no. 1 (April 2022): 247–81. http://dx.doi.org/10.32721/ctj.2022.70.1.ctp.
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In the Canadian mining industry, it may be commercially beneficial for two or more corporations to undertake a business venture together to explore a resource property and subsequently develop and operate a mine. Four vehicles are commonly used to carry on such ventures: incorporated joint ventures, unincorporated joint ventures, general partnerships, and limited partnerships. This article highlights some of the income tax issues that must be considered when negotiating a choice of vehicle with an arm's-length party. The article focuses on key provisions of the Income Tax Act (Canada) that apply in the context of resource business ventures including, in particular, the flowthrough share, successor, at-risk, and tax shelter investment rules. The relevance and tax implications of these provisions are discussed, in turn, for each of the four vehicles, with a view to assisting the parties to the venture in making an informed decision.
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Bakri, A. S., S. Saidan Khaderi, and A. S. Abd Shukor. "A Cross-case Analysis on the Barriers to Knowledge Sharing Practices in Construction Joint Ventures." IOP Conference Series: Earth and Environmental Science 1067, no. 1 (October 1, 2022): 012068. http://dx.doi.org/10.1088/1755-1315/1067/1/012068.
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Abstract Construction joint ventures often used as a strategic platform to facilitate learning and acquire knowledge associated with individual partner skills and capabilities, and further integrate the new knowledge into their own system and structure. Although previous literature has highlighted many benefits of joint ventures, in reality it does not work well as people are often hesitant to share their knowledge and experience. Furthermore, the nature of construction projects and temporary setting of joint venture organisations often results in difficulty to retain the knowledge of each project member once the project completed, and the joint venture dissolved. Such problems become more critical in the local-foreign joint venture projects where knowledge has to be shared across different organisations and national culture. This research paper aims to assess the barriers for knowledge sharing practices by using cross-case analysis of joint venture projects as case studies. This research took a qualitative approach with a multiple-case study method adopted to perform exploratory case studies into construction joint ventures in Malaysia. Qualitative data were collected using the semi-structured interview techniques with 20 interviewees from two case studies. The primary data was analysed using content analysis and cognitive mapping techniques. The research findings revealed several barriers to knowledge sharing practices within joint venture project settings such as the cultural barriers, lack of loyalty and project continuity, language barriers, unwilling to share and learn; and lack of time. The Malaysian construction industry is taking initiatives to improve its current project performance through capacity development which is one of the strategic thrusts outlined in CIDB Construction Revolution 4.0 (CR4.0). The capacity development can be done by encouraging the collaboration between construction participants. It gives a very significant justification for undertaking this research focusing on improving the collaboration and project performance of joint venture project settings through effective knowledge sharing.
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Zhang, Jingxiao, You Ouyang, Hui Li, Pablo Ballesteros-Pérez, and Martin Skitmore. "Simulation analysis of incentives on employees' acceptance of foreign joint venture management practices: a case study." Engineering, Construction and Architectural Management 27, no. 8 (May 12, 2020): 2047–78. http://dx.doi.org/10.1108/ecam-06-2019-0321.
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PurposeCultural differences between employees of different nationalities are hindering the development of some transnational joint ventures. Describing and modelling the positive (or negative) factors that cause joint venture employees to accept (or reject) joint management business practices is of great value to all corporations operating abroad with locally sourced employees.Design/methodology/approachThis study uses a Sino-Japan construction joint venture project as a representative case study. First, structural equation modelling is used to identify the factors influencing Chinese employees' acceptance of joint venture management practices. Then, a system dynamics model is adopted to simulate the time-dependent effects of the incentives.FindingsThe study results (1) indicate which incentives strongly affect employee acceptance of joint venture management practices; (2) identify inefficient management practices in cross-cultural joint ventures; and (3) provide evidence that the employees' perceptions of clear purpose, good working relationships and helpful mechanisms positively and directly also support their acceptance of joint management practices.Originality/value–A dynamic simulation method is used to analyse the influence of various incentive factors on employee acceptance of joint management. This provides unprecedented information regarding how these factors interact with each other, hence how their effectiveness varies (both positively and negatively) over time. Further findings also provide new ideas for joint venture managers to adopt more effective management methods.
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Chen, Qiangbing, Yali Liu, and Lu Jiang. "Culture distance and foreign equity ownership in international joint ventures." Journal of Chinese Economic and Foreign Trade Studies 3, no. 3 (October 5, 2010): 189–203. http://dx.doi.org/10.1108/17544401011084280.
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PurposeThe 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/approachData 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.FindingsCultural 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/valueThe 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.
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Jancenelle, Vivien E. "The relationship between firm resources and joint ventures: revisited." American Journal of Business 30, no. 1 (April 7, 2015): 8–21. http://dx.doi.org/10.1108/ajb-07-2014-0045.
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Purpose – This study is a replication of Wolff and Reed’s (2000) work. The purpose of this paper is to examine how the combination of resources brought to joint ventures influence parent-firm performance. This study is also interested in whether or not the exposure of immobile resources through the semi-transparent membrane of the joint venture can have negative effects on parent-firm performance. Design/methodology/approach – The sample consists of two-parent joint ventures formed by publicly traded US firms between 1997 and 2013. The event-study methodology is used to calculate each parent-firm’s abnormal returns. This work also uses content analysis to analyze parent-firms’ annual reports (10-K). Findings – While Wolff and Reed’s results on resource allocation within joint ventures were not statistically significant, this replication study provided strong support to the resource allocation hypothesis. It was found that intangible resource heterogeneity within a joint venture creates higher performance gains for parent-firms than tangible resource heterogeneity. This work also successfully replicated Wolff and Reed’s findings on the negative impact of immobile resources exposure on parent-firm performance. Wolff and Reed’s results on resource complementarity were, however, not successfully replicated. Originality/value – This replication study goes beyond simply showing that engaging in a joint venture strategy creates value for parent-firms. Through the use of a new content analysis method, this study was able to provide strong support for Wolff and Reed’s theory on the performance gains provided by resource heterogeneity in a joint venture setting, and to confirm the results on potential adverse performance effects of immobile resources exposure.
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Knowler, Jane, and Charles Rickett. "The Fiduciary Duties of Joint Venture Parties – When do They Arise and What Do They Comprise?" Victoria University of Wellington Law Review 42, no. 1 (May 2, 2011): 117. http://dx.doi.org/10.26686/vuwlr.v42i1.5155.
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Joint Ventures are often used by parties in commercial enterprises where parties seek to achieve a common goal. One issue which is increasingly contentious is the extent to which, if any, joint venture parties owe each other fiduciary obligations. This paper refutes, as a dangerous heresy, the idea that joint venture relationships are discrete legal relationships that are inherently fiduciary in nature. The majority of self-styled "joint ventures" are, invariably, nothing more in legal terms than contracts. If parties are going to be bound by fiduciary duties, over and above the contractual duties they owe each other, this will only be so by virtue of the particular arrangement they have entered into which, on a thorough examination of the facts, is found to require each party to give unstinting loyalty to the other. Recent Australian case law bears this out.
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Seiso, Modisaotsile Patrick, Babatunde Fatai Ogunbayo, and Clinton Ohis Aigbavboa. "Joint Ventures in the South African Construction Industry: Factors Militating against Success." Buildings 13, no. 5 (May 16, 2023): 1299. http://dx.doi.org/10.3390/buildings13051299.
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Joint construction ventures are a global business partnership approach to accomplishing jointly executed construction objectives. The success of joint ventures is not achieved without militating factors and complexity affecting the process. This study assessed the militating factors against joint venture success in the construction industry in South Africa. A quantitative research approach was adopted, using a purposive sampling technique to select participants for this study. In total, 190 copies of the questionnaire were sent out to construction stakeholders in Gauteng province, South Africa, and 185 copies of the questionnaire were retrieved. Data analysis was conducted in three stages: data reliability and validity, descriptive statistics, and exploratory factor analysis. The exploratory factor analysis (EFA) returned seven factors that provided a relevant understanding of the militating factors against joint venture success: differences in partners’ work values, ineffective regulatory frameworks, undefined goals, clashes between partners’ cultural values, economic viability, operational constraints, and conflicts of interest. This study recommends that joint venture formulation requires due diligence from partners to understand policy, organisational culture, sharing ratios, and economic viability to avoid unnecessary conflicts of interest and operational constraints.
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Shiravi, Abdolhossein, and Mahdi Abbasi Vafaei. "Joint venture and joint operating agreements in Iran: legal aspects." Journal of World Energy Law & Business 13, no. 3 (June 1, 2020): 270–81. http://dx.doi.org/10.1093/jwelb/jwaa021.
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Abstract Under current Iranian laws and regulations there is a requirement for an upstream petroleum contract to be managed by a joint venture entity and so the conclusion of a joint venture agreement (JVA) is compulsory in such petroleum projects. In this research article we first discuss the rules governing JVAs and the statutory requirements of such agreements in Iran. Then, by studying the relevant rules, we consider the advantages and disadvantages of the both unincorporated and incorporated forms of JVA and finally we discuss some of the implications of the JVA regarding tax, accounting procedures and fiduciary duties. We also consider the role played by unincorporated joint ventures and the joint operating agreement (JOA) in Iran.
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Freeman, Anne. "Access to information in joint ventures: the dangers of being kept in the dark." APPEA Journal 56, no. 2 (2016): 560. http://dx.doi.org/10.1071/aj15066.
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Operators of joint ventures have, by reason of their position, first-hand access to all information relating to the joint venture, including financial results, technical data, and documents relating to relationships with third parties and contractors. Non-operators regularly strike difficulty in obtaining all the information they need in relation to the affairs of joint ventures, especially if a dispute is emerging between participants in it. This extended abstract explores various mechanisms for non-operators to obtain joint venture records, including express provisions in the joint venture agreement itself, and the potential to argue that there should be a right to obtain records implied into the agreement. Other potential mechanisms will also be canvassed, including the assertion of fiduciary duties owed by the operator that might provide the non-operator with rights to obtain information. In the 2013 decision of Alliance Craton Explorer v Quasar Resources, the Full Court of the Federal Court considered a joint venture agreement that did not explicitly provide access to the non-operator records of the joint venture. The court refused to imply a term providing access to the records, and dismissed arguments by the non-operator that the operator was its agent and that the non-operator had proprietary rights to the information it sought. This extended abstract discusses the implications of this decision.