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Management International Review
Erschienen in: Management International Review 3/2017

10.05.2016 | Research Article

Match-Making in International Joint Ventures in Emerging Economies: Aligning Asymmetric Financial Strength and Equity Stake

verfasst von: Pierre-Xavier Meschi, Anne Norheim-Hansen, Edson Luiz Riccio

Erschienen in: Management International Review | Ausgabe 3/2017

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Abstract

This paper attends to prior equivocal results concerning partner asymmetry and international joint venture (IJV) performance. More specifically, we examine how asymmetric financial strength between the partners influences IJV termination in emerging economies, and consider the asymmetry direction as well as the local partner’s equity stake as contingency factors. Our event history analysis of 119 IJVs formed in Brazil shows that asymmetric financial strength increases the likelihood of termination. However, notably, the findings reveal that higher local partner financial strength is less harmful to IJV performance than lower local partner financial strength. Moreover, under both conditions, IJV performance is better when the highest equity stake is attributed to the local partner.
Vorheriger Artikel The Interplay of Mahalanobis Distance and Firm Capabilities on MNC Subsidiary Exits from Host Countries
Nächster Artikel Developing International Business Relationships in a Russian Context

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Fußnoten
1
Two remarks have to be made in relation to Hypothesis 1. First, while the prediction may apply also to other contexts as well as non-equity alliances, the theoretical evidence would have to be considered less strong. This, since social exchange is particularly important for the performance of IJVs as well as in our context of emerging economies, is due to a number of associated uncertainties etc. Second, the portion of Hypothesis 1 mentioning “IJVs with approximately equal financial strength” refers implicitly to (1) IJVs where both partners have low and approximately equal financial strength (even though these cases are relatively rare) and (2) IJVs where both partners have high and approximately equal financial strength.
 
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Metadaten
Titel
Match-Making in International Joint Ventures in Emerging Economies: Aligning Asymmetric Financial Strength and Equity Stake
verfasst von
Pierre-Xavier Meschi
Anne Norheim-Hansen
Edson Luiz Riccio
Publikationsdatum
10.05.2016
Verlag
Springer Berlin Heidelberg
Erschienen in
Management International Review / Ausgabe 3/2017
Print ISSN: 0938-8249
Elektronische ISSN: 1861-8901
DOI
https://doi.org/10.1007/s11575-016-0285-8

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