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Shareholder Wealth Effects on Joint Venture Termination: A Transaction Cost Analysis

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  • Reuer, J.J.

Abstract

Managing joint venture (JV transitions can have implications for parent firm performance as JVs become important, albeit temporary, instruments of firms' corporate and international strategies. This study examines the average shareholder wealth effects of five specific types of JV termination. Empirical evidence from U.S. firms terminating domestic and international JVs reveals venture termination neither positively nor negatively influences firm value on average, and no one type of JV termination is superior to its alternatives in general.

Suggested Citation

  • Reuer, J.J., 1997. "Shareholder Wealth Effects on Joint Venture Termination: A Transaction Cost Analysis," Papers 97-001, Purdue University, Krannert School of Management - Center for International Business Education and Research (CIBER).
  • Handle: RePEc:fth:purkib:97-001
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    More about this item

    Keywords

    JOINT VENTURES ; SHAREHOLDERS ; WEALTH;
    All these keywords.

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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