haku: @author Kogut, B. / yhteensä: 29
viite: 20 / 29
| Tekijä: | Kogut, B. |
| Otsikko: | Joint ventures and the option to expand and aquire. |
| Lehti: | Management Science
1991 : JAN, VOL. 37:1, p. 19-33 |
| Asiasana: | JOINT BUSINESS VENTURES MERGERS CORPORATE STRATEGY |
| Kieli: | eng |
| Tiivistelmä: | A problem facing the firm is the decision to invest and expand into new product markets characterized by uncertain demand. The problem is exacerbated when the new business is not related to current activities. The perspective is developed that joint ventures are created as real options to expand in response to future technological and market developments. The exercise of the option is accompanied by an acquisition of the venture. Based on a sample of 92 manufacturing joint ventures, this hypothesis is tested by estimating the effect of product market signals on the hazard of acquisition. |
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