外商在中外合资合作企业中投资违约的实证研究

近几年外商在中外合资合作企业中当年未按合同出资的比例占40%和50%左右,违约行为相当严重。本文选取8833家中外合资企业和合作企业,运用OLS和二元Logistic回归对外商的投资违约行为进行实证研究。该研究对我国企业和政府具有借鉴意义,有助于我国企业更正以往的错误操作,确定合理的合资合作策略,同时有助于政府明确管理合资合作经营的政策取向。     

Do culturally distant partners choose different types of joint ventures?

Studies of international joint ventures yield conflicting results when looking at the role played by cultural distance. We argue that managers understand the problems associated with cultural distance and seek to mitigate its impact by selecting certain types of joint ventures. Using Das and Teng's [Das, T. K., & Teng, B.-S. (2001). A risk-perception model of alliance structuring. Journal of International Management, 7(1): 1–30] typology of unilateral and bilateral alliances to categorize a sample of ventures based on their strategic focus, our results indicate that greater cultural distance is associated with an increased probability that a marketing or supplier alliance will be formed and a lower probability that an innovation-oriented alliance will be formed.     

Agency costs and the structure and performance of international joint ventures

This article develops a principal-agent contractual model for the issue of the structure and performance of international joint ventures. From this model, hypotheses are generated relating the number of partners in a joint venture and the cross-cultural divergence of the partners with joint venture performance. These hypotheses are empirically assessed using a population of over 3,500 developed-country joint ventures.     

Joint ventures in the P. R. China

China is showing interest in joint ventures in the oil, coal and nonferrous metals sector, in electricity generation, steel and building materials production, in the mechanical engineering, textile and electrical industries, in the transport sector and in the hotel trade. Our article gives an outline of the problems which the future joint ventures in China will encounter.     

Acquisition of managerial knowledge from foreign parents: evidence from Korean joint ventures

This paper contributes to the literature on intra- and inter-firm knowledge transfer by examining knowledge acquisition by Korean international joint ventures from their foreign parents. A conceptual model is presented which identifies the factors that have been found to influence knowledge transfer, organised into variables related to the local recipient firm, the foreign sender firm and the relationship between the two. The model is examined by means of a series of multiple regressions using a sample of 128 Korean international joint ventures. We find that: (1) the international joint ventures intent to learn and international experience; (2) the level of trust between parents and their business relatedness; and (3) the active managerial engagement of the foreign parent are the most important factors explaining the level of knowledge acquisition within the international joint ventures.     

Key success factors for Russian-foreign joint ventures

This article identifies key success factors (KSFs) for Russian-foreign joint ventures. Based on case studies of two successful and two unsuccessful Russian-foreign joint ventures, four KSFs are identified. The presence of the four KSFs is then assessed in a sample of 30 Russian-foreign joint ventures. To assess the generalizability of the KSFs, discriminant analysis is then applied to the 30 joint ventures to differentiate between successful and unsuccessful joint ventures. The results show that the KSFs can explain 83.3 percent of the variance in the performance of joint ventures in the sample.     

An Investigation of Control and Performance in U.S.-Chinese Joint Ventures

ABSTRACT

This study took an integrated approach to managerial control in international joint ventures (IJVs). The various control mechanisms used in U.S.-Chinese joint ventures were examined. The linkage between control and performance was empirically tested using a sample of U.S.-Chinese joint ventures established in China during the period of 1979–1989. The findings support the hypothesis that effective managerial control exercised by the U.S. partner over the joint venture operation is positively related to its performance. U.S.-dominant joint ventures significantly outperformed Chinese-dominant joint ventures, but no significant performance differences were found between U.S.-dominant joint ventures and shared management joint ventures.     

The Evolution of Conditions for Joint Ventures in China

An "opening" of the People's Republic of China to Sino-foreign joint ventures began in 1978. Thereafter, the size and number of such enterprises has continued to grow. This article examines the history of joint ventures in China and the devlopment of the environment in which they operate. Examples of successed and fialures, as well as a conceptual model of Sino-American joint venture activity, are presented. The effects of the repression in Tiananmen Square and the outlook for the future are discussed.     

Chinese Perceptions of Issues and Obstacles Confronting Joint Ventures

In China one of the most effective means of attracting foreign capital to undertake its four modernizations is through the creation of joint ventures. The Chinese are striving for pragmatic results and emphasize that joint ventures should provide mutual benefits for both parties. Many joint ventures should provide mutual benefits for both parties. Many joint venture participants from the U.S.A. have become disillusioned and are frustrated by obstacles including government bureaucreatic interference, cultural differences, and a lack of managerial know-how by the Chinese. Based on a survey of 182 Chinese businessmen, 100 of whom engaged in joint ventures, it is evident that the CHinese share these concerns. Their perceptions provide guidelines for coping with these obstacles and clearly indicate the importance of "quanxi" in attaining the goals of joint ventures.     

Market reaction to international joint venture announcement: The case of developed versus less developed countries

Joint ventures across national borders are more advantageous than other forms of international diversification because they afford a better control of technology usage, require a minimal level of cash investment, and present a more effective means of avoiding intervention from the host government. All of these characteristics make international joint ventures uniquely suitable for investments in less developed countries. This paper ascertains whether investors agree with the above sentiment by examining the stock market response to 41 announcements of international joint ventures during 1985-1987, using the event study method. It was found that the stock of the multinational corporations announcing international joint ventures generally outperforms the market In addition, the market reaction to the announcement of international joint ventures in less developed countries is, on average, more favorable than its reaction to the announcement of international joint ventures in developed countries.     

Joint Ventures in Russia

There is an extensive literature on the role of joint ventures in international business. Most of this has focused on the involvement of multinational enterprises (MNEs) in establishing joint ventures in developing countries. Recent political and economic reforms in Eastern Europe have focused attention on joint venture opportunities in ex-centrally planned economies, including opportunities for small and medium-sized enterprises. This paper examines the experiences of two small, family owned Scottish companies in establishing joint ventures in the largest of the East European countries, the Russian Federation. The cases highlight the important strategic and managerial issues involved in planning, negotiating and implementing joint ventures with Russian partners. Sensitivity to the business development needs of the host organization, the establishment of good personal relationships and flexibility are crucial to the joint venture process.     

South African Managers' Perceptions of Prospective South African-US Joint Ventures

Abstract

This study explores South African managers' expectations of prospective South African-United States international joint ventures. One hundred and three middle level South African managers responded to a theory-based original survey questionnaire that included questions about various aspects of prospective US-South African joint ventures. US companies invest in South Africa to gain access to its market and South African companies get into joint ventures with US companies to tap into their financial resources. US government's imposed tariffs and South African government's administrative barriers seem to be the most crucial problems for the prospective joint ventures. Implications for international managers are offered.     

An exploratory study of project based international joint ventures: the case of Chek Lap Kok Airport in Hong Kong

A large number of international collaborative ventures was established for the purpose of constructing the Chek Lap Kok Airport in Hong Kong—one of the mega construction projects of the last decade. This study reports on the findings of an in-depth survey of international contractors involved in this mega-construction project. Its focus is on the unique characteristics of project-based joint ventures. The study highlights significant managerial problems and potential success factors in managing project-based international joint ventures. Several propositions are offered for future research. A managerial framework for analyzing project-based international joint ventures is also presented.     

The effect of early international commitment on international positional advantages in Spanish and Belgian international new ventures

Past research into internationalisation processes assumes that prior experience influences both a firm’s capability to absorb foreign market knowledge and its international competitiveness. However, recent international entrepreneurship research seems to suggest that an early international commitment can also contribute to develop competitive advantages. Further study of this relationship will provide a better understanding of the competitive behaviour of international new ventures. This paper focuses on how international new ventures acquire market knowledge from foreign markets and develop sustainable positional advantages there. The hypotheses derived from our model were tested using extended data gathered from samples of Spanish and Belgian new ventures. To support the validity of the scale content used, all the items were taken from a review of related literature. We attempted to ensure that they meet the conceptual definition and reflect all the relevant dimensions. We used confirmatory analysis to evaluate convergent validity. A structural equation model was used to test the research hypotheses. The results of the data analysis allow us to confirm that an early international commitment influences the positional advantages of international new ventures, since it facilitates the development of market orientation.     

独资与合资方式的技术溢出效果比较

对外直接投资技术溢出效应对发展中国家经济发展十分重要,跨国公司投资方式不同对技术溢出效应会有明显差异。已有的研究认为合资在东道国的技术溢出比独资好,但是本文的实证研究表明,不论短期还是长期分析,独资比合资在我国的技术溢出效果更好。中国的改革开放演进使跨国公司战略调整和东道国经济基础发展更有利于独资方式技术溢出效果的显现,这种技术溢出效果差异是通过影响技术溢出机制和渠道的作用而产生的。     

The influence of cultural differences in cooperative learning through joint ventures

This study analyzes the influence on interorganizational learning attributed to differences in organizational cultures of partnering firms, through joint ventures. We attempt to carry out an in-depth analysis into the type of influences involved and whether they are positive or negative, or if they foster or hinder learning. We analyze a sample consisting of firms that had entered into a joint venture and then contrasted our hypotheses against the sample using structural equations. The results confirm the existence of a degree of influence and conclude that this influence is positive for this type of learning.     

从联系的视角看东西方合资企业中的组织学习

合资企业通过组织学习来实现知识转移,提高组织效能与竞争力的问题已引起理论界越来越多的关注。在东西方合资企业中,合资双方在资源、技术能力方面的差异导致了合作伙伴权力的不对称性,给学习与合作关系带来了不利影响。本文提出,为了把握合资企业组织学习与伙伴关系的动态性,合资双方应超越“掌握知识和技能”的局限性,从联系的视角理解构成学习过程的关系和情绪问题。     

Determinants of Satisfaction with Partnership in International Joint Ventures:

The joint venture arrangement continues to emerge as a dominant business format in developing countries. However, it has a high propensity for partner conflict, dissatisfaction and failure. This study examine U.S.-Saudi joint ventures by developing and empirically testing a model of partner satisfaction whose conceptual framework is rooted in the marketing channels literature.     

Europe and the joint venture frenzy

As the European community draws nearer to unifying its markets by 1992, smart American companies are entering into joint ventures with European firms. For these companies, digging a foothold into what will be the world's largest market is just too crucial to put off to a later date.     

An entrepreneurial cognition perspective on the internationalization of SMEs

Drawing from entrepreneurship, cognition, and international business theory, this paper develops a model integrating individual-level and firm-level characteristics to provide an entrepreneurial cognition perspective on the internationalization of small and medium size ventures. The model is tested on a sample of Spanish ventures using structural equation modeling techniques (partial least squares). Support is found for the central role of cognition and risk perception of CEOs in explaining the implementation of international expansion strategies for their firms.