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Market valuation of joint ventures: Joint venture characteristics and wealth gains

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  • Park, Seung Ho
  • Kim, Dongcheol

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  • Park, Seung Ho & Kim, Dongcheol, 1997. "Market valuation of joint ventures: Joint venture characteristics and wealth gains," Journal of Business Venturing, Elsevier, vol. 12(2), pages 83-108, March.
  • Handle: RePEc:eee:jbvent:v:12:y:1997:i:2:p:83-108
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    References listed on IDEAS

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    1. Brown, Stephen J. & Warner, Jerold B., 1985. "Using daily stock returns : The case of event studies," Journal of Financial Economics, Elsevier, vol. 14(1), pages 3-31, March.
    2. J Michael Geringer & Louis Hebert, 1989. "Control and Performance of International Joint Ventures," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 20(2), pages 235-254, June.
    3. McConnell, John J & Nantell, Timothy J, 1985. " Corporate Combinations and Common Stock Returns: The Case of Joint Ventures," Journal of Finance, American Finance Association, vol. 40(2), pages 519-536, June.
    4. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    5. Nathan Fagre & Louis T Wells, 1982. "Bargaining Power of Multinationals and Host Governments," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 13(2), pages 9-24, June.
    6. Linda Longfellow Blodgett, 1991. "Partner Contributions as Predictors of Equity Share in International Joint Ventures," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 22(1), pages 63-78, March.
    7. McConnell, John J. & Muscarella, Chris J., 1985. "Corporate capital expenditure decisions and the market value of the firm," Journal of Financial Economics, Elsevier, vol. 14(3), pages 399-422, September.
    8. Kenneth A. Froot & Jeremy C. Stein, 1991. "Exchange Rates and Foreign Direct Investment: An Imperfect Capital Markets Approach," The Quarterly Journal of Economics, Oxford University Press, vol. 106(4), pages 1191-1217.
    9. 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.
    10. Teece, David J., 1980. "Economies of scope and the scope of the enterprise," Journal of Economic Behavior & Organization, Elsevier, vol. 1(3), pages 223-247, September.
    11. Zahra, Shaker A. & Covin, Jeffrey G., 1995. "Contextual influences on the corporate entrepreneurship-performance relationship: A longitudinal analysis," Journal of Business Venturing, Elsevier, vol. 10(1), pages 43-58, January.
    12. Alston, Lee J. & Gillespie, William, 1989. "Resource coordination and transaction costs : A framework for analyzing the firm/market boundary," Journal of Economic Behavior & Organization, Elsevier, vol. 11(2), pages 191-212, March.
    13. Demsetz, Harold, 1983. "The Structure of Ownership and the Theory of the Firm," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 375-390, June.
    14. Franklin Allen, 1993. "Strategic Management and Financial Markets," Center for Financial Institutions Working Papers 94-04, Wharton School Center for Financial Institutions, University of Pennsylvania.
    15. Kogut, Bruce, 1989. "The Stability of Joint Ventures: Reciprocity and Competitive Rivalry," Journal of Industrial Economics, Wiley Blackwell, vol. 38(2), pages 183-198, December.
    16. Pisano, Gary P, 1989. "Using Equity Participation to Support Exchange: Evidence from the Biotechnology Industry," Journal of Law, Economics, and Organization, Oxford University Press, vol. 5(1), pages 109-126, Spring.
    17. Seung Ho Park & Michael V. Russo, 1996. "When Competition Eclipses Cooperation: An Event History Analysis of Joint Venture Failure," Management Science, INFORMS, vol. 42(6), pages 875-890, June.
    18. Bruce Kogut, 1991. "Joint Ventures and the Option to Expand and Acquire," Management Science, INFORMS, vol. 37(1), pages 19-33, January.
    19. Duncan, Jerome L, Jr, 1982. "Impacts of New Entry and Horizontal Joint Ventures on Industrial Rates of Return," The Review of Economics and Statistics, MIT Press, vol. 64(2), pages 339-342, May.
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    Cited by:

    1. Huan Zou & Xiaoyun Chen & Pervez Ghauri, 2010. "Antecedents and consequences of new venture growth strategy: An empirical study in China," Asia Pacific Journal of Management, Springer, vol. 27(3), pages 393-421, September.
    2. repec:spr:manint:v:57:y:2017:i:5:d:10.1007_s11575-017-0314-2 is not listed on IDEAS
    3. Cunha, P.A.M.F.V., 2005. "The value of cooperation : Studies on the performance outcomes of interorganizational alliances," Other publications TiSEM 59466e6c-1920-461e-b5e9-b, Tilburg University, School of Economics and Management.
    4. Deeds, David L. & Hill, Charles W. L., 1999. "An examination of opportunistic action within research alliances: Evidence from the biotechnology industry," Journal of Business Venturing, Elsevier, vol. 14(2), pages 141-163, March.
    5. Africa Ariño & Roberto Ragozzino & Jeffrey J. Reuer, 2008. "Alliance Dynamics for Entrepreneurial Firms," Journal of Management Studies, Wiley Blackwell, vol. 45(1), pages 147-168, January.
    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.
    7. García-Canal, Esteban & Sánchez-Lorda, Pablo, 2007. "One more only if it is one of us. The number of partners and the stock market reaction to domestic and international alliance formation in EU telecom firms," International Business Review, Elsevier, vol. 16(1), pages 83-108, February.
    8. Richards, Malika & De Carolis, Donna Marie, 2003. "Joint venture research and development activity: an analysis of the international biotechnology industry," Journal of International Management, Elsevier, vol. 9(1), pages 33-49.
    9. Cristina López-Duarte & Marta Vidal-Suárez, 2008. "Foreign direct investment through partial acquisitions: hostage effect or conflicts enhancement," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 12(3), pages 287-308, August.
    10. Norman, Patricia M., 2004. "Knowledge acquisition, knowledge loss, and satisfaction in high technology alliances," Journal of Business Research, Elsevier, vol. 57(6), pages 610-619, June.
    11. Bruce Burton, 2005. "Concurrent capital expenditure and the stock market reaction to corporate alliance announcements," Applied Financial Economics, Taylor & Francis Journals, vol. 15(10), pages 715-729.
    12. James A. Wolff & Richard Reed, 2000. "Firm resources and joint ventures: what determines zero-sum versus positive-sum outcomes?," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 21(7), pages 269-284.
    13. Reuer, Jeffrey J. & Ariño, Africa, 2003. "Alliance dynamics for entrepreneurial firms," IESE Research Papers D/526, IESE Business School.
    14. Merchant, Hemant, 2005. "The structure-performance relationship in international joint ventures: a comparative analysis," Journal of World Business, Elsevier, vol. 40(1), pages 41-56, February.
    15. Reuer, Jeffrey J. & Arino, Africa & Mellewigt, Thomas, 2006. "Entrepreneurial alliances as contractual forms," Journal of Business Venturing, Elsevier, vol. 21(3), pages 306-325, May.
    16. Baron, Robert A. & Markman, Gideon D., 2003. "Beyond social capital: the role of entrepreneurs' social competence in their financial success," Journal of Business Venturing, Elsevier, vol. 18(1), pages 41-60, January.
    17. Zheng Xiaosong & Zhang Jinming, 2011. "Factors Influencing International Joint Venture Performance in China," Annals - Economic and Administrative Series -, Faculty of Business and Administration, University of Bucharest, vol. 5(1), pages 167-184, December.
    18. Anastasios Karamanos, 2002. "Market Networks and the Value in Knowledge Exchanges: Evidence from Biotechnology Strategic Alliances," Working Papers wp240, Centre for Business Research, University of Cambridge.
    19. Reuer, Jeffrey J. & Ariño, Africa & Mellewight, Thomas, 2003. "Entrepreneurial alliances as contractual forms," IESE Research Papers D/527, IESE Business School.
    20. Nitin Pangarkar, 2009. "Do Firms Learn from Alliance Terminations? An Empirical Examination," Journal of Management Studies, Wiley Blackwell, vol. 46(6), pages 982-1004, September.
    21. repec:eee:finana:v:52:y:2017:i:c:p:190-202 is not listed on IDEAS

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