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| Author: | Kumar, M.V.S. |
| Title: | The value from acquiring and divesting a joint venture: a real options approach |
| Journal: | Strategic Management Journal
2005 : APR, VOL. 26:4, p. 321-331 |
| Index terms: | joint business ventures parent companies |
| Freeterms: | real options |
| Language: | eng |
| Abstract: | The value created from acquiring and divesting a joint venture is examined here. The focus is on parent company factors, the value is studed in light of the reason behind the termination of the venture and the characteristics of the target market. Consistent with the real options view, it is found that ventures divested to refocus a parent company's market portfolio were associated with value creation. In contrast, ventures acquired with the objective of growth and expansion in a target market, while not associated with significant value creation, did not destroy value either. |
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