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A framework of international joint ventures exit: A resource dependence and learning perspective

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  • Nemeth, Alexander
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    Abstract

    Although international joint ventures (IJVs) have been a dominant market entry mode for years, high failure rates have been reported. Hence, an important part of research on IJVs focuses on success in terms of survival or persistence. The literature on IJV survival and exit (i.e., termination), however, has important limitations. Addressing these limitations, I offer an IJV exit framework and corresponding propositions that apply resource dependence and learning theories. The framework illustrates how specific determinants influence the likelihood of an IJV's persistence or termination through liquidation, internalization or sell-off. It extends the uni-directional notion of the current IJV learning theory and illustrates that parental learning does not necessarily lead to an IJV's internalization, whereas absent learning does not inevitably result in an IJV's persistence. Furthermore, this article shows how particular aspects of a firm's culture such as uncertainty avoidance affect the exit of IJVs. -- Obwohl Unternehmen häufig internationale Joint Ventures (IJVs) zur Umsetzung von Markteintrittsstrategien nutzen, sind diese Organisationen anfällig für Ineffizienzen und vorzeitige Beendigungen bzw. Exit. Dementsprechend hat sich die bisherige Forschung bemüht, Einflussfaktoren zu identifizieren, die einem unerwarteten IJV Exit entgegenwirken. Jedoch weist die entsprechende IJV Exit Literatur bedeutende Limitationen auf. Um diese Limitationen zu adressieren, entwickle ich auf Basis des Ressourcenabhängigkeitsansatzes und der Lerntheorie ein entsprechendes IJV Exit-Framework sowie dazugehörige Propositionen. Das Framework zeigt, wie bestimmte Determinanten auf die Wahrscheinlichkeit eines IJV Exits durch Liquidierung, Verkauf oder Internalisierung wirken. Es erweitert die unidirektionale Sichtweise der derzeitigen Lerntheorie und verdeutlicht, dass Lernen von IJV Partnern nicht zwangsläufig zur Internalisierung eines IJVs führt und dass ein Ausbleiben von Lernen nicht unbedingt das Fortbestehen eines IJVs bedingt. Darüber hinaus verdeutlicht diese Studie, wie spezifische kulturelle Aspekte von Partner-Unternehmen (z.B. Risikoaversion) die Beendigung von IJVs beeinflussen.

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    Bibliographic Info

    Paper provided by TU Bergakademie Freiberg, Faculty of Economics and Business Administration in its series Freiberg Working Papers with number 2012,02.

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    Date of creation: 2012
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    Handle: RePEc:zbw:tufwps:201202

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    Keywords: International Joint Venture; Termination; Exit; Resource Dependence; Learning; Internationale Joint Venture; Beendigung; Exit; Ressourcenabhängigkeit; Lernen;

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