An Exploratory Analysis of Joint Ventures' Performance in Romania
This paper gives empirical evidence for the superior performance of foreign direct investment in Romania in the presence of highly labor-intensive production and large market shares. Performance is measured in terms of investment volume and net profits. Partial state-ownership in joint ventures adversely affects performance, while a higher degree of import competition - in contrast to common conviction - favors profits during this stage of reforms. According to the results of a profitability analysis, the optimal size per investment has neither been reached nor even been surpassed yet.
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Darrough, Masako N & Stoughton, Neal M, 1989. "A Bargaining Approach to Profit Sharing in Joint Ventures," The Journal of Business, University of Chicago Press, vol. 62(2), pages 237-270, April.
- 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.
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