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The Motives for Joint Ventures: A Transaction Costs Analysis of Japanese NMEs in the UK

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  • Cleeve, Emmanuel

Abstract

What factors determine the choice of Japanese companies between part and full ownership of their UK subsidiaries? In seeking to answer this question, this study employs data of Japenese foreign direct investment (FDI), through joint ventures, in the UK, not previously used. The main findings of the econometric work presented is that transaction costs are the principal consideration when Japanese firms choose between part and full ownership of their UK subsidiaries. Variables that hive featured prominently in studies relating to either US parents or for subsidiaries in the US do not appear to play a significant role. The European Union (EU) market appears to be the target of Japanese foreign direct investment in the UK. Copyright 1997 by Scottish Economic Society.

Suggested Citation

  • Cleeve, Emmanuel, 1997. "The Motives for Joint Ventures: A Transaction Costs Analysis of Japanese NMEs in the UK," Scottish Journal of Political Economy, Scottish Economic Society, vol. 44(1), pages 31-43, February.
  • Handle: RePEc:bla:scotjp:v:44:y:1997:i:1:p:31-43
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    Cited by:

    1. Jonas Puck & Markus K. Hödl & Igor Filatotchev & Hans-Georg Wolff & Benjamin Bader, 2016. "Ownership mode, cultural distance, and the extent of parent firms’ strategic control over subsidiaries in the PRC," Asia Pacific Journal of Management, Springer, vol. 33(4), pages 1075-1105, December.
    2. Demirbag, Mehmet & Tatoglu, Ekrem & Glaister, Keith W., 2009. "Equity-based entry modes of emerging country multinationals: Lessons from Turkey," Journal of World Business, Elsevier, vol. 44(4), pages 445-462, October.
    3. Javalgi, Rajshekhar (Raj) G. & Deligonul, Seyda & Ghosh, Amit K. & Lambert, Douglas M. & Cavusgil, S. Tamer, 2010. "Foreign market entry mode behavior as a gateway to further entries: The NAFTA experience," International Business Review, Elsevier, vol. 19(3), pages 209-222, June.
    4. repec:spr:manint:v:47:y:2007:i:4:d:10.1007_s11575-007-0028-y is not listed on IDEAS
    5. Chen, Ming-Yuan & Chang, Jing-Yun, 2011. "The choice of foreign market entry mode: An analysis of the dynamic probit model," Economic Modelling, Elsevier, vol. 28(1), pages 439-450.
    6. Lin, Wen-Ting, 2016. "FDI decisions and business-group insider control: Evidence from Taiwanese group-affiliated firms investing in the Chinese market," Journal of World Business, Elsevier, vol. 51(4), pages 525-533.

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