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Joint venture instability: a life cycle approach

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  • Roy Chowdhury, Prabal
  • Roy Chowdhury, Indrani

Abstract

Joint ventures represent one of the most fascinating developments in international business. In the last few decades, the rate of joint venture formation has accelerated dramatically. Nowadays joint ventures are much more widespread and occur in industries like telecommunications, biotechnology etc. At the same time, however, it must be noted that joint ventures are very unstable. In this paper we survey the phenomenon of joint venture instability. We draw on the relative recent theoretical literature on joint venture instability to provide a unified explanation of joint venture life-cycles, formation, as well as breakdown. Further, we do this for both research oriented, as well as production joint ventures.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 1556.

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Date of creation: 2001
Date of revision: Jan 2007
Handle: RePEc:pra:mprapa:1556

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Keywords: Joint ventures; formation; breakdown; synergy; moral hazard; learning;

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References

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  1. Roy Chowdhury, Indrani & Roy Chowdhury, Prabal, 2001. "A theory of joint venture life-cycles," International Journal of Industrial Organization, Elsevier, vol. 19(3-4), pages 319-343, March.
  2. Bardhan, Pranab K, 1982. "Imports, Domestic Production, and Transnational Vertical Integration: A Theoretical Note," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 1020-34, October.
  3. Motta, M., 1991. "Cooperative R&D and vertical product differentiation," CORE Discussion Papers 1991028, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Kabiraj, Tarun & Marjit, Sugata, 1993. "International technology transfer under potential threat of entry : A Cournot-Nash framework," Journal of Development Economics, Elsevier, vol. 42(1), pages 75-88, October.
  5. Prabal Roy Chowdhury, 1997. "Joint Product Development Between Domestic Firms: Some Policy Issues," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 32(2), pages 199-215, July.
  6. Marjit, Sugata, 1991. "Incentives for cooperative and non-cooperative R and D in duopoly," Economics Letters, Elsevier, vol. 37(2), pages 187-191, October.
  7. Yu, Eden S. H. & Chi-Chur, Chao, 1996. "Are wholly foreign-owned enterprises better than joint ventures?," Journal of International Economics, Elsevier, vol. 40(1-2), pages 225-237, February.
  8. Satya P. Das, 1998. "On the choice of international joint venture: the role of policy moral hazard," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 2(2), pages 135-150.
  9. Marjit, Sugata & Chowdhury, Prabal Roy, 2004. "Asymmetric capacity costs and joint venture buy-outs," Journal of Economic Behavior & Organization, Elsevier, vol. 54(3), pages 425-438, July.
  10. Tarun Kabiraj & Ching Chyi Lee & Sugata Marjit, 2005. "Cultural Compatibility and Joint Venture Instability: A Theoretical Analysis," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 40(2), pages 209-220, December.
  11. Tarun Kabiraj & Ching Chyi Lee, 2001. "Synergy, learning and the changing industrial structure," International Economic Journal, Taylor & Francis Journals, vol. 18(3), pages 365-387.
  12. Choi, Jay Pil, 1993. "Cooperative R&D with product market competition," International Journal of Industrial Organization, Elsevier, vol. 11(4), pages 553-571.
  13. Ray Chaudhuri, Prabal, 1995. "Technological asymmetry and joint product development," International Journal of Industrial Organization, Elsevier, vol. 13(1), pages 23-39, March.
  14. Marjit, S., 1988. "Rationalizing Public-Private Joint Ventures In An Open Economy: A Strategic Approach," Papers 88-1, Florida - College of Business Administration.
  15. Dasgupta, Sudipto & Tao, Zhigang, 1998. "Contractual incompleteness and the optimality of equity joint ventures," Journal of Economic Behavior & Organization, Elsevier, vol. 37(4), pages 391-413, December.
  16. Al-Saadon, Yousef & Das, Satya P., 1996. "Host-country policy, transfer pricing and ownership distribution in international joint ventures: A theoretical analysis," International Journal of Industrial Organization, Elsevier, vol. 14(3), pages 345-364, May.
  17. Combs, K. L., 1993. "The role of information sharing in cooperative research and development," International Journal of Industrial Organization, Elsevier, vol. 11(4), pages 535-551.
  18. Sinha, Uday Bhanu, 2001. "Imitative innovation and international joint ventures: a dynamic analysis," International Journal of Industrial Organization, Elsevier, vol. 19(10), pages 1527-1562, December.
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