Suchergebnisse

Joint ventures aid firms in accessing new markets, knowledge, capabilities, and other resources. Yet they can be challenging to manage, largely because they are owned by two or more parent companies. These companies may have competing or incongruent goals, differences in management style, and in the case of international business, additional complexities associated with differing government policies and business practices. We examine research on joint venture (JV) performance in order to identify prominent academic discussions established over the last 25 years. From this research, we draw implications from past research and areas for future research on successfully managing JVs, taking into account the decisions JV partners must make throughout the partnering process, from initial motivations through partner selection and negotiation of terms to implementation and ongoing management. Key implications include the necessity of honesty, trust, and commitment for the success of the JV, settling disputes by focusing on what is best for the JV rather than individual partner objectives, and division of managerial responsibilities according to the functional expertise of each partner.

In most aspects of establishment and operation, joint venture corporations do not differ from any other corporate enterprise. A joint venture operating in a foreign country encounters daily problems of negotiable instruments law, property law and insurance law, to name but a few, in the same way that every corporation in that country does. Thus, it may seem presumptuous to write about joint ventures in a particular country unless one is willing and able to produce a comprehensive survey of that country's legal system. There are several areas of the foreign law, however, which are primary, in terms both of importance and of chronology, since the ground rules in these areas will govern the methods of establishment and operation and, indeed, are fundamental to the basic management decision of whether or not a joint venture operation would be practicable and profitable. Clearly, primary consideration must be given to matters of foreign exchange and foreign capital, company law, taxation, and in most cases matters of industrial property rights, as well as any special laws or aspects of laws relating to foreigners. The structuring of a joint company in the maze of interrelating rules in these legal areas might become quite a special problem. Not infrequently aspects of property law, anti-monopoly law and social and labor legislation also require special attention prior to establishment.

"Though there is a body of theoretical literature on research joint venture (RJV) participation facilitating collusion, empirical tests are rare. Even more so, there are few empirical tests on the general theme of collusion. This note tries to fill this gap by assuming a correspondence between the stability of research joint ventures and collusion. By using data from the U.S. National Cooperation Research Act, we show that large RJVs in concentrated industries are more stable and hence more suspect to collusion." (author's abstract)