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Corporate Combinations and Common Stock Returns: The Case of Joint Ventures

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Cited by:

  1. Bidault, Francis & Hildebrand, Thomas, 2014. "The distribution of partnership returns: Evidence from co-authorships in economics journals," Research Policy, Elsevier, vol. 43(6), pages 1002-1013.
  2. Gertjan Schut & Ruud van Frederikslust, 2004. "Shareholders Wealth Effects of Joint Venture Strategies," Multinational Finance Journal, Multinational Finance Journal, vol. 8(3-4), pages 211-225, september.
  3. Kartik Kalaignanam & Venkatesh Shankar & Rajan Varadarajan, 2007. "Asymmetric New Product Development Alliances: Win-Win or Win-Lose Partnerships?," Management Science, INFORMS, vol. 53(3), pages 357-374, March.
  4. Lerner, Josh & Shane, Hilary & Tsai, Alexander, 2003. "Do equity financing cycles matter? evidence from biotechnology alliances," Journal of Financial Economics, Elsevier, vol. 67(3), pages 411-446, March.
  5. Shao‐Chi Chang & Sheng‐Syan Chen & Jung‐Ho Lai, 2008. "The Wealth Effect of Japanese‐US Strategic Alliances," Financial Management, Financial Management Association International, vol. 37(2), pages 271-301, June.
  6. Chiou, Ingyu & White, Lawrence J., 2005. "Measuring the value of strategic alliances in the wake of a financial implosion: Evidence from Japan's financial services sector," Journal of Banking & Finance, Elsevier, vol. 29(10), pages 2455-2473, October.
  7. Amrita Nain & Yan Wang, 2018. "The Product Market Impact of Minority Stake Acquisitions," Management Science, INFORMS, vol. 64(2), pages 825-844, February.
  8. Fayez A. Elayan, 1993. "The Announcement Effect of Real Estate Joint Ventures on Returns to Stockholders: An Empirical Investigation," Journal of Real Estate Research, American Real Estate Society, vol. 8(1), pages 13-26.
  9. Shyam Kumar, M.V., 2007. "Asymmetric wealth gains in joint ventures: Theory and evidence," Finance Research Letters, Elsevier, vol. 4(1), pages 19-27, March.
  10. Manish Tewari & Pradipkumar Ramanlal & Rajesh Kumar & Soumen De, 2020. "Stock Market Response to Multiple Alliance Announcements: A Multi-Industry Analysis," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 9(2), pages 26-45, April.
  11. Distadio, Luiz Fernando & Ferguson, Andrew, 2022. "Mine offtake contracting, strategic alliances and the equity market," Journal of Commodity Markets, Elsevier, vol. 27(C).
  12. repec:zbw:bofrdp:2010_002 is not listed on IDEAS
  13. Chen, Sheng-Syan & Ho, Kim Wai & Lee, Cheng-few & Yeo, Gillian H. H., 2000. "Investment opportunities, free cash flow and market reaction to international joint ventures," Journal of Banking & Finance, Elsevier, vol. 24(11), pages 1747-1765, November.
  14. Chen, Jun & King, Tao-Hsien Dolly & Wen, Min-Ming, 2015. "Do joint ventures and strategic alliances create value for bondholders?," Journal of Banking & Finance, Elsevier, vol. 58(C), pages 247-267.
  15. Robert Campbell & Nancy White-Huckins & C. Sirmans, 2006. "Domestic and International Equity REIT Joint Ventures: Structuring Corporate Options," The Journal of Real Estate Finance and Economics, Springer, vol. 32(3), pages 275-288, May.
  16. Kimberly Gleason & Ike Mathur & Roy Wiggins, 2006. "The Evidence on Product-Market Diversifying Acquisitions and Joint Ventures by U.S. Banks," Journal of Financial Services Research, Springer;Western Finance Association, vol. 29(3), pages 237-254, June.
  17. Alford, Andrew & Healy, Paul & Hwa, Ng Kah, 1998. "The performance of international joint ventures: A study of the merchant banking industry in Singapore," Journal of Corporate Finance, Elsevier, vol. 4(1), pages 31-52, March.
  18. Mantecon, Tomas & Liu, Ian & Gao, Fei, 2012. "Empirical evidence of the value of monitoring in joint ownership," Journal of Banking & Finance, Elsevier, vol. 36(4), pages 1045-1056.
  19. Hanvanich, Sangphet & Richards, Malika & Miller, Stewart R. & Cavusgil, S. Tamer, 2005. "Technology and the effects of cultural differences and task relatedness: A study of shareholder value creation in domestic and international joint ventures," International Business Review, Elsevier, vol. 14(4), pages 397-414, August.
  20. Yi Liu & Margaret O’Reilly‐Allen & Zaher Zantout, 2007. "The Welfare Effects of the National Cooperative Research Act (NCRA) of 1984 and the National Cooperative Production Amendments (NCPA) of 1993," American Journal of Economics and Sociology, Wiley Blackwell, vol. 66(5), pages 985-1004, November.
  21. Michael Nippa & Jeffrey J Reuer, 2019. "On the future of international joint venture research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(4), pages 555-597, June.
  22. Mc Namara, Peter & Baden-Fuller, Charles, 2007. "Shareholder returns and the exploration-exploitation dilemma: R&D announcements by biotechnology firms," Research Policy, Elsevier, vol. 36(4), pages 548-565, May.
  23. Jianping Qi & Ninon K. Sutton & Qiancheng Zheng, 2020. "The value of innovation and the spillover effect on alliance partners," Review of Quantitative Finance and Accounting, Springer, vol. 55(4), pages 1427-1457, November.
  24. M. V. Shyam Kumar, 2010. "Differential Gains Between Partners in Joint Ventures: Role of Resource Appropriation and Private Benefits," Organization Science, INFORMS, vol. 21(1), pages 232-248, February.
  25. Boone, Audra L. & Ivanov, Vladimir I., 2012. "Bankruptcy spillover effects on strategic alliance partners," Journal of Financial Economics, Elsevier, vol. 103(3), pages 551-569.
  26. Higgins, Matthew J., 2007. "The allocation of control rights in pharmaceutical alliances," Journal of Corporate Finance, Elsevier, vol. 13(1), pages 58-75, March.
  27. Gilles Chemla & Michel A. Habib & Alexander Ljungqvist, 2007. "An Analysis of Shareholder Agreements," Journal of the European Economic Association, MIT Press, vol. 5(1), pages 93-121, March.
  28. repec:dau:papers:123456789/4112 is not listed on IDEAS
  29. Demirkan, Sebahattin & Demirkan, Irem, 2014. "Implications of strategic alliances for earnings quality and capital market investors," Journal of Business Research, Elsevier, vol. 67(9), pages 1806-1816.
  30. Glaister, Keith W. & Husan, Rumy & Buckley, Peter J., 2003. "Learning to manage international joint ventures," International Business Review, Elsevier, vol. 12(1), pages 83-108, February.
  31. Chatterjee, Patrali, 2004. "Interfirm alliances in online retailing," Journal of Business Research, Elsevier, vol. 57(7), pages 714-723, July.
  32. Lee, Hyunchul & Cho, Euije & Cheong, Chongcheul & Kim, Jinsu, 2013. "Do strategic alliances in a developing country create firm value? Evidence from Korean firms," Journal of Empirical Finance, Elsevier, vol. 20(C), pages 30-41.
  33. Duanmu, Jing-Lin & Lawton, Thomas, 2021. "Foreign buyout of international equity joint ventures in China: When does performance improve?," Journal of World Business, Elsevier, vol. 56(5).
  34. Picou, Armand & McDaniel, William R. & Rosenberg, Sidney, 1996. "Resolving international agency cost in East/West joint ventures," Global Finance Journal, Elsevier, vol. 7(1), pages 115-127.
  35. Karen C. Denning & Heather Hulburt & Stephen P. Ferris, 2006. "Risk and wealth effects of U.S. firm joint venture activity," Review of Financial Economics, John Wiley & Sons, vol. 15(3), pages 271-285.
  36. Pierre-Xavier Meschi & Emmanuel Metais, 2002. "Investissements français aux États-Unis, stratégies de croissance externe et réactions du marché boursier," Revue Finance Contrôle Stratégie, revues.org, vol. 5(1), pages 129-165, March.
  37. 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.
  38. 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.
  39. Häussler, Carolin, 2004. "Does Partnering Pay Off? - Stock Market Reactions to Inter-Firm Collaboration Announcements in Germany," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 14, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  40. Sarkar, Salil K. & de Jong, Pieter J., 2006. "Market response to FDA announcements," The Quarterly Review of Economics and Finance, Elsevier, vol. 46(4), pages 586-597, September.
  41. Vijh, Anand M. & Yang, Ke, 2013. "Are small firms less vulnerable to overpriced stock offers?," Journal of Financial Economics, Elsevier, vol. 110(1), pages 61-86.
  42. Lee, Hyunchul & Kim, Dukyong & Seo, Minkyo, 2013. "Market valuation of marketing alliances in East Asia: Korean evidence," Journal of Business Research, Elsevier, vol. 66(12), pages 2492-2499.
  43. Parmjit Kaur & Randeep Kaur, 2019. "Effects of Strategic Investment Decisions on Value of Firm: Evidence from India," Paradigm, , vol. 23(1), pages 1-19, June.
  44. Beshears, John, 2013. "The performance of corporate alliances: Evidence from oil and gas drilling in the Gulf of Mexico," Journal of Financial Economics, Elsevier, vol. 110(2), pages 324-346.
  45. Chakravarty, Sugato & Rutherford, Leann G., 2017. "Do busy directors influence the cost of debt? An examination through the lens of takeover vulnerability," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 429-443.
  46. Mina Glambosky & Kim Gleason & Joan Wiggenhorn, 2011. "Joint ventures between US MNCs and foreign governments," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 7(3), pages 238-258, June.
  47. 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.
  48. Joanne E. Oxley & Rachelle C. Sampson & Brian S. Silverman, 2009. "Arms Race or Détente? How Interfirm Alliance Announcements Change the Stock Market Valuation of Rivals," Management Science, INFORMS, vol. 55(8), pages 1321-1337, August.
  49. Stienstra, Miranda, 2020. "The determinants and performance implications of alliance partner acquisition," Other publications TiSEM 7fdee0c2-d4d2-4f5b-95e3-2, Tilburg University, School of Economics and Management.
  50. Lu, Jin-Ray & Hwang, Chih-Chiang & Lin, Chien-Yi, 2016. "Do shareholders appreciate capital investment policies of corporations?," International Review of Economics & Finance, Elsevier, vol. 43(C), pages 344-353.
  51. Ueng, C. Joe & Kim, Seung H. & Lee, C. Christopher, 2000. "The impact of firm's ownership advantages and economic status of destination country on the wealth effects of international joint ventures," International Review of Financial Analysis, Elsevier, vol. 9(1), pages 67-76, February.
  52. Herman Belgraver & Ernst Verwaal, 2018. "Organizational capital, production factor resources, and relative firm size in strategic equity alliances," Small Business Economics, Springer, vol. 50(4), pages 825-849, April.
  53. Sviatoslav A. Moskalev & R. Bruce Swensen, 2007. "Joint ventures around the globe from 1990–2000: Forms, types, industries, countries and ownership patterns," Review of Financial Economics, John Wiley & Sons, vol. 16(1), pages 29-67.
  54. Edward Jones & Jo Danbolt & Ian Hirst, 2004. "Company investment announcements and the market value of the firm," The European Journal of Finance, Taylor & Francis Journals, vol. 10(5), pages 437-452.
  55. Konchitchki, Yaniv & O'Leary, Daniel E., 2011. "Event study methodologies in information systems research," International Journal of Accounting Information Systems, Elsevier, vol. 12(2), pages 99-115.
  56. Emanuele Bajo & Maroc Bigelli & Sandro Sandri, 1998. "The Stock Market Reaction to Investment Decisions: Evidence from Italy," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 2(1), pages 1-16, March.
  57. Mantecon, Tomas & Chatfield, Robert E., 2007. "An analysis of the disposition of assets in a joint venture," Journal of Banking & Finance, Elsevier, vol. 31(9), pages 2591-2611, September.
  58. Hasan, Iftekhar & Schmiedel, Heiko & Song, Liang, 2010. "Growth strategies and value creation: what works best for stock exchanges?," Bank of Finland Research Discussion Papers 2/2010, Bank of Finland.
  59. HEGE, Ulrich & HAUSWALD, Robert, 2002. "Ownership and control in joint ventures: theory and evidence," HEC Research Papers Series 750, HEC Paris.
  60. Shanthi Gopalakrishnan & Joanne L. Scillitoe & Michael D. Santoro, 2008. "Tapping Deep Pockets: The Role of Resources and Social Capital on Financial Capital Acquisition by Biotechnology Firms in Biotech–Pharma Alliances," Journal of Management Studies, Wiley Blackwell, vol. 45(8), pages 1354-1376, December.
  61. Thomas Canace & Steven Mann, 2014. "The impact of technology-motivated M&A and joint ventures on the value of IT and non-IT firms: a new examination," Review of Quantitative Finance and Accounting, Springer, vol. 43(2), pages 333-366, August.
  62. Akbar Zaheer & Varghese P. George, 2004. "Reach out or reach within? Performance implications of alliances and location in biotechnology," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 25(6-7), pages 437-452.
  63. Spencer A. Case & D. Scott Lee & John D. Martin, 2007. "The potential for expropriation through joint ventures," Review of Financial Economics, John Wiley & Sons, vol. 16(1), pages 111-126.
  64. Hanvanich, Sangphet & Miller, Stewart R. & Richards, Malika & Cavusgil, S. Tamar, 2003. "An event study of the effects of partner and location cultural differences in joint ventures," International Business Review, Elsevier, vol. 12(1), pages 1-16, February.
  65. Jianping Qi & Ninon K. Sutton & Qiancheng Zheng, 0. "The value of innovation and the spillover effect on alliance partners," Review of Quantitative Finance and Accounting, Springer, vol. 0, pages 1-31.
  66. Ulrich Pape & Stephan Schmidt-Tank, 2005. "Valuing Joint Ventures Using Real Options," Finance 0503030, University Library of Munich, Germany.
  67. Dewally, Michaël & Gordon, Rachel, 2022. "Financial impact of partnerships on hospitality firms," Annals of Tourism Research, Elsevier, vol. 95(C).
  68. Ari Warokka & Juan Jose Duran Herrera, 2011. "Does Corporate Control Transactions’ Type and Focus really Create Value? Evidence from an Emerging Market," Journal of Economics and Behavioral Studies, AMH International, vol. 3(3), pages 213-223.
  69. Changqi Wu & K.C. Wei, 1998. "Cooperative R&D and the Value of the Firm," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 13(4), pages 425-446, August.
  70. Francis Kofi Andoh-Baidoo & Kweku-Muata Osei-Bryson & Kwasi Amoako-Gyampah, 2012. "Effects of firm and IT characteristics on the value of e-commerce initiatives: An inductive theoretical framework," Information Systems Frontiers, Springer, vol. 14(2), pages 237-259, April.
  71. Fayez A. Elayan & Kuntara Pukthuanthong & Richard Roll, 2006. "Investor Reaction to Inter‐corporate Business Contracting: Evidence and Explanation," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 35(3), pages 253-291, November.
  72. Hansen, Zeynep & Higgins, Matthew, 2007. "The Effect of Contractual Complexity on Technology Sourcing Agreements," MPRA Paper 4979, University Library of Munich, Germany.
  73. Case, Spencer A. & Lee, D. Scott & Martin, John D., 2007. "The potential for expropriation through joint ventures," Review of Financial Economics, Elsevier, vol. 16(1), pages 111-126.
  74. Iftekhar Hasan & Heiko Schmiedel & Liang Song, 2012. "Growth Strategies and Value Creation: What Works Best for Stock Exchanges?," The Financial Review, Eastern Finance Association, vol. 47(3), pages 469-499, August.
  75. E. James Cowan & Karen C. Denning & Anne Anderson & Xiaohui Yang, 2018. "Divergent Market Responses to Human Capital Reorganizations," Business and Economic Research, Macrothink Institute, vol. 8(1), pages 212-243, March.
  76. Ushijima, Tatsuo, 2010. "Understanding partial mergers in Japan," Journal of Banking & Finance, Elsevier, vol. 34(12), pages 2941-2953, December.
  77. Denning, Karen C. & Hulburt, Heather & Ferris, Stephen P., 2006. "Risk and wealth effects of U.S. firm joint venture activity," Review of Financial Economics, Elsevier, vol. 15(3), pages 271-285.
  78. Su, Han Chan & Kensinger, John W. & Keown, Arthur J. & Martin, John D., 1997. "Do strategic alliances create value?," Journal of Financial Economics, Elsevier, vol. 46(2), pages 199-221, November.
  79. Bodnaruk, Andriy & Massa, Massimo & Simonov, Andrei, 2013. "Alliances and corporate governance," Journal of Financial Economics, Elsevier, vol. 107(3), pages 671-693.
  80. Moskalev, Sviatoslav A. & Swensen, R. Bruce, 2007. "Joint ventures around the globe from 1990-2000: Forms, types, industries, countries and ownership patterns," Review of Financial Economics, Elsevier, vol. 16(1), pages 29-67.
  81. Slovin, Myron B. & Sushka, Marie E. & Mantecon, Tomas P., 2007. "Analyzing joint ventures as corporate control activity," Journal of Banking & Finance, Elsevier, vol. 31(8), pages 2365-2382, August.
  82. Charles-Henri Frédouet & Patrick Le Mestre, 2005. "La construction d'un outil de mesure de la performance des réseaux interorganisationnels : une étude des réseaux d'acteurs portuaires," Revue Finance Contrôle Stratégie, revues.org, vol. 8(4), pages 5-32, December.
  83. Larry J. Prather & Jae Hoon Min, 1998. "Testing of the Positive-Multinational Network Hypothesis: Wealth Effects of International Joint Ventures in Emerging Markets," Multinational Finance Journal, Multinational Finance Journal, vol. 2(2), pages 151-165, June.
  84. Jeffrey H. Dyer & Harbir Singh & Prashant Kale, 2008. "Splitting the pie: rent distribution in alliances and networks," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 29(2-3), pages 137-148.
  85. Cuypers, I.R.P., 2009. "Essays on equity joint ventures, uncertainty and experience," Other publications TiSEM 8dc79e86-c625-467f-a450-8, Tilburg University, School of Economics and Management.
  86. Ferris, Stephen P. & Sen, Nilanjan & Lim, Chee Yeow & Yeo, Gillian H. H., 2002. "Corporate focus versus diversification: the role of growth opportunities and cashflow," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 12(3), pages 231-252, July.
  87. Zhang, Xiaoxiang & Wen, Jie, 2016. "The impacts of economic importance difference of a joint venture (JV) held by partners and partners' size difference on the extraction of rivalrous and non-rivalrous private benefits in a JV," International Review of Financial Analysis, Elsevier, vol. 48(C), pages 46-54.
  88. Kimberly C. Gleason & Ike Mathur & Roy A. Wiggins, III, 2003. "Evidence on Value Creation in the Financial Services Industries through the Use of Joint Ventures and Strategic Alliances," The Financial Review, Eastern Finance Association, vol. 38(2), pages 213-234, May.
  89. Ling T. He & F.C. Neil Myer & James R. Webb, 1997. "The Wealth Effects of Domestic vs International Joint Ventures: The Case of Real Estate," Journal of Real Estate Research, American Real Estate Society, vol. 13(3), pages 349-358.
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