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Internationalisation of family businesses – evidences from joint venture formations at Danfoss

Author

Listed:
  • Britta Boyd
  • Toshio Goto
  • Svend Hollensen

Abstract

This paper focuses on the international joint venture formation process of family businesses. The reason behind Danfoss' decision to cooperate with two competing family businesses in Japan and China as well as two non-family businesses in Canada and Great Britain will be analysed. In-depth qualitative interviews reveal the driving forces on both sides and show how the psychic distance can be reduced between the different parent firms including the Joint Venture (JV) child. The purpose of this study is to compare equal split or equity joint ventures of non-family and family firms regarding the formation process, including competences and cultures. The study indicates which core competences of a family business matter when cooperating in equal split joint ventures. Implications for family business owners and ideas for future research are discussed.

Suggested Citation

  • Britta Boyd & Toshio Goto & Svend Hollensen, 2010. "Internationalisation of family businesses – evidences from joint venture formations at Danfoss," International Journal of Management Practice, Inderscience Enterprises Ltd, vol. 4(3), pages 253-272.
    • Handle: RePEc:ids:ijmpra:v:4:y:2010:i:3:p:253-272
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    Citations

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    Cited by:

    1. Fynn-Willem Lohe & Andrea Calabrò & Mariateresa Torchia, 2021. "Disentangling the drivers of family firms internationalization through the lens of socioemotional wealth," Journal of International Entrepreneurship, Springer, vol. 19(4), pages 479-509, December.
    2. Basly Sami, 2015. "Family Involvement in the Firm and Exports in the Family SME: Is the Manager’s International Orientation Influential?," Journal of Intercultural Management, Sciendo, vol. 7(3), pages 69-99, September.
    3. Metsola, Jaakko & Leppäaho, Tanja & Paavilainen-Mäntymäki, Eriikka & Plakoyiannaki, Emmanuella, 2020. "Process in family business internationalisation: The state of the art and ways forward," International Business Review, Elsevier, vol. 29(2).
    4. Boyd, Britta & Hollensen, Svend, 2012. "Strategic management of a family-owned airline: Analysing the absorptive capacity of Cimber Sterling Group A/S," Journal of Family Business Strategy, Elsevier, vol. 3(2), pages 70-78.

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