haku: @indexterm JOINT BUSINESS VENTURES / yhteensä: 864
viite: 2 / 864
| Tekijä: | Kumar, M.V.S. |
| Otsikko: | Are joint ventures positive sum games? The relative effects of cooperative and noncooperative behavior |
| Lehti: | Strategic Management Journal
2011 : JAN, VOL. 32:1, p. 32-54 |
| Asiasana: | USA joint business ventures transaction costs event studies |
| Vapaa asiasana: | value creation resource-based view |
| Kieli: | eng |
| Tiivistelmä: | This paper deals with the question whether joint ventures (JVs) are characterized mainly by cooperative behaviour (henceforth as: c-beh.) or non-cooperative behaviour (herein as: n-beh). The interrelationship btw. the values created for two partners when announcing a JV is explored. It is argued that, on average, if c-beh. and common benefits are more influential than n-beh. and private benefits, there will be a positive association btw. the values created for the two partners. Based on a sample of over 340 JVs, there is found evidence of a positive association btw. the values created for the two partners after controlling for various factors. This suggests that the stock market perceives JVs to be positive sum games rather than zero sum games, and that value creation in JVs is mainly attributable to synergies rather than appropriation of resources. |
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