When to go it alone: Examining post-conversion performance of international joint ventures

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This study examines the decision to convert international joint ventures to either foreign or local wholly owned entities and the subsequent impact on performance from the perspective of incomplete contract theory. With China's relaxation of the joint venture requirement, foreign partners are more likely to take full control and thereby improve performance in provinces with fewer institutional barriers and industries with high intangible asset intensity, while local partners are more likely to do so in provinces with higher institutional barriers and low intangible asset intensity. Furthermore, the performance improvement is more salient when transitioning from foreign minority-local majority joint ventures.
Publisher
PALGRAVE MACMILLAN LTD
Issue Date
2019-08
Language
English
Article Type
Article
Citation

JOURNAL OF INTERNATIONAL BUSINESS STUDIES, v.50, no.6, pp.998 - 1020

ISSN
0047-2506
DOI
10.1057/s41267-018-00211-7
URI
http://hdl.handle.net/10203/264354
Appears in Collection
MT-Journal Papers(저널논문)
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