Diversification, Partner Relatedness, and Shareholder Value of International Joint Ventures

2010 ◽  
Author(s):  
Lanyue Zhou ◽  
Kin-Yip Ho
Keyword(s):  
Joint Ventures ◽  
Shareholder Value ◽  
International Joint Ventures ◽  
International Joint

scholarly journals International Joint Ventures and Shareholder Value Creation: Evidence from Manufacturing and Non-manufacturing Sectors

2001 ◽  
Vol 26 (4) ◽  
pp. 21-34
Author(s):  
Hemant Merchant
Keyword(s):  
Capital Markets ◽  
Joint Ventures ◽  
Empirical Studies ◽  
Shareholder Value ◽  
International Joint Ventures ◽  
Actual Performance ◽  
Ex Post ◽  
International Joint ◽  
Ijv Performance ◽  
The Impact

Numerous empirical studies have suggested that the economic performance of international joint ventures (IJVs) is modest, at best. This suggestion may be inaccurate, however, since the studies' findings are based on ex post managerial perceptions of IJV performance that are found to be biased. Stated differently, there is a need to investigate IJV performance from ex ante “external* perspective—that of capital markets. Consequently, this study investigates the extent to which IJVformation announcements increase the shareholder value pf participating firms. Despite the merits of engaging a capital markets' perspective, it is necessary to investigate the extent to which capital markets are informationally ‘efflcient’- particularly given persistent doubts about whether capital markets really are as efficient as is widely accepted. Hence, this study compares IJV&' expected performance with their actual performance that is reported in other empirical studies. This study engages the event-study methodology to examine the impact of IJV formation announcements on the shareholder value of IJV parents, and tries to circumvent the methodology's principal limitations in doing so. Based on a sample of more than 500 IJVs, the study's findings indicate participation in IJVs increases parents' shareholder value by an average of approximately one per cent, albeit this figure varies across industry sectors (manufacturing; non-manufacturing) and firm size (large; small). Shareholder value is created for about 50 per cent Of firms in the sample. Moreover, the study's findings suggest that capital markets are informationally efficient

Ecological efficiency of international joint ventures// ECONOMICS, POLITICS, LAW: TRENDS AND PROSPECTS: сб.науч.тр./ OEAPS Inc.; редкол.: Флора Бертран (отв.ред.) [и др.]. - Берлин, Германия : OEAPS Inc., December 2018. - С. 5-7.

2019 ◽  
Author(s):  
Anna Igorevna Dudnik
Keyword(s):  
Joint Ventures ◽  
International Joint Ventures ◽  
Energy Industry ◽  
Ecological Efficiency ◽  
International Joint

The article describes the concept of ecological efficiency in terms of international joint ventures. It discoveries the main features, specific terms and notions, it also gives the examples from energy industry. The article suggests the measures which company can take for increasing ecological efficiency of its projects.

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