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Characteristics of the International Joint Ventures in Bulgaria (1989-2003)

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Author Info

  • Iavor Marangozov

    (Bulgarian Academy of Sciences - Institute of Economics)

Abstract

Purpose - In response to the need of new knowledge about the international joint venture (IJV), the purpose of this study presents an analysis of the basic characteristics of the IJVs in Bulgaria and the variation of their characteristics depending on the nationality of the foreign partners, coming from three regions: Triad countries (USA, Western Europe and Japan); non-Triad countries; and a mixed region, encompassing combinations of partners from the above two regions. Design/methodology/approach - The advantage of the study is the use of official data from the database, established in cooperation between the author and the National Statistical Institute, on the entire non- homogeneous population of 722 IJVs in the 1989-2003 period. Findings - The generalized results of the study confirm the existence of common trends and trends diverging from those registered in previous studies both on the conventional IJV, set up by foreign and local partners, and on the non-conventional IJV, formed by foreign partners alone. Research limitations/implications - Notwithstanding the generalized results obtained, owing to the coverage of the entire population of IJVs, future studies regarding their characteristics in Bulgaria should have not only structural, but also motivational and outcome variables superimposed. Practical implications - The research can serve for international comparative studies and for the elaboration of national and European Union policies regarding the creation of official databases on the IJVs. Originality/value - With the presentation of new knowledge both on the conventional and on the non-conventional IJVs, the present study extends and supplements the theme regarding the characteristics of the IJVs.

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File URL: http://128.118.178.162/eps/io/papers/0509/0509003.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Industrial Organization with number 0509003.

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Length: 20 pages
Date of creation: 06 Sep 2005
Date of revision:
Handle: RePEc:wpa:wuwpio:0509003

Note: Type of Document - pdf; pages: 20. Empirical Research Article
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Web page: http://128.118.178.162

Related research

Keywords: Joint Ventures; Strategic Alliances; International Investments; Databases; Economic Changes; Bulgaria;

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References

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  1. Patrick F R Artisien & Peter J Buckley, 1985. "Joint Ventures in Yugoslavia: Opportunities and Constraints," Journal of International Business Studies, Palgrave Macmillan, vol. 16(1), pages 111-135, March.
  2. Mariti, P & Smiley, R H, 1983. "Co-Operative Agreements and the Organization of Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 31(4), pages 437-51, June.
  3. Ellen R. Auster, 1992. "The Relationship of Industry Evolution to Patterns of Technological Linkages, Joint Ventures, and Direct Investment Between U.S. and Japan," Management Science, INFORMS, vol. 38(6), pages 778-792, June.
  4. Balakrishnan, Srinivasan & Koza, Mitchell P., 1993. "Information asymmetry, adverse selection and joint-ventures : Theory and evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 20(1), pages 99-117, January.
  5. Giorgio BARBA NAVARETTI & Enrico SANTARELLI & Marco VIVARELLI, 2000. "The Role of Subsidies in Promoting Italian Joint Ventures in Least Developed and Transition Economies," Working Papers 144, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  6. Marjorie A Lyles & Jane E Salk, 1996. "Knowledge Acquisition from Foreign Parents in International Joint Ventures: An Empirical Examination in the Hungarian Context," Journal of International Business Studies, Palgrave Macmillan, vol. 27(4), pages 877-903, December.
  7. Marjorie A. Lyles & Le dang Doanh & Jeffrey Q. Barden, 2000. "Trust, Organizational Controls, Knowledge Acquisition from the Foreign Parents, and Performance in Vietnamese International Joint Ventures," William Davidson Institute Working Papers Series 329, William Davidson Institute at the University of Michigan.
  8. Frederick W Schroath & Michael Y Hu & Haiyang Chen, 1993. "Country-of-origin Effects of Foreign Investments in the People's Republic of China," Journal of International Business Studies, Palgrave Macmillan, vol. 24(2), pages 277-290, June.
  9. Oded Shenkar & Yoram Zeira, 1992. "Role Conflict and Role Ambiguity of Chief Executive Officers in International Joint Ventures," Journal of International Business Studies, Palgrave Macmillan, vol. 23(1), pages 55-75, March.
  10. Shige Makino & Paul W Beamish, 1998. "Performance and Survival of Joint Ventures with Non-Conventional Ownership Structures," Journal of International Business Studies, Palgrave Macmillan, vol. 29(4), pages 797-818, December.
  11. Linda Longfellow Blodgett, 1991. "Partner Contributions as Predictors of Equity Share in International Joint Ventures," Journal of International Business Studies, Palgrave Macmillan, vol. 22(1), pages 63-78, March.
  12. Marjorie A Lyles & Jane E Salk, 1996. "Knowledge Acquisition from Foreign Parents in International Joint Ventures: An Empirical Examination in the Hungarian Context," Journal of International Business Studies, Palgrave Macmillan, vol. 27(5), pages 877-903, December.
  13. J Michael Geringer, 1991. "Strategic Determinants of Partner Selection Criteria in International Joint Ventures," Journal of International Business Studies, Palgrave Macmillan, vol. 22(1), pages 41-62, March.
  14. Veugelers, Reinhilde & Kesteloot, Katrien, 1994. "On the design of stable joint ventures," European Economic Review, Elsevier, vol. 38(9), pages 1799-1815, December.
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Citations

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Cited by:
  1. Iavor Marangozov, 2013. "Realization of the Anticompetitive Potential of Joint Ventures in Bulgaria (1991-2010)," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 37-67.
  2. Berardi, Nicoletta & Seabright, Paul, 2010. "Joint Ventures as a Commitment Device Against Lobbies," CEPR Discussion Papers 7714, C.E.P.R. Discussion Papers.
  3. Demirbag, Mehmet & Glaister, Keith W. & Tatoglu, Ekrem, 2007. "Institutional and transaction cost influences on MNEs' ownership strategies of their affiliates: Evidence from an emerging market," Journal of World Business, Elsevier, vol. 42(4), pages 418-434, December.
  4. Valentin Goev & Venelin Boshnakov & Ekaterina Tosheva, 2011. "Foreign Direct Investments In Bulgaria: Main Results Of Foreign Investors Surveys," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 58, pages 387-410, november.
  5. Iavor Marangozov, 2005. "From Practice to Theory of the International Joint Ventures," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 44-77.
  6. Merchant, Hemant, 2012. "The characteristics and stock-market performance of international joint ventures located in three host-country groups: An extension and empirical validation," International Business Review, Elsevier, vol. 21(6), pages 1173-1189.

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