search query: @indexterm joint business ventures / total: 864
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| Author: | Arend, R.J. Mantecon, T. |
| Title: | Market reactions to asset sales: Effects of the joint venture prerequisite |
| Journal: | European Management Journal
2008 : APR, VOL. 26:2, p. 105-121 |
| Index terms: | joint business ventures assets sales markets |
| Language: | eng |
| Abstract: | This study explores the strategic issue of inter-firm resource transfer, that is, the methods firms use to buy and sell assets. A typology of asset sale mechanisms is introduced, described by levels of information uncertainty. This typology is analyzed by exploring i. how firms choose among the mechanisms and ii. how they are rewarded by the financial markets for their choices. It is found that factors involving the level of information asymmetry, the firm's bargaining power, its current opportunities and pressures, and its ability to engage in the various mechanisms, all correlate with both choices and rewards. |
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