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An Information theory of joint ventures

Author: Balakrishnan, Srinivasan ; Koza, Mitchell P.INSEAD Area: StrategyIn: Advances in Global High-Technology Management, vol. 5, part B, 1995 Language: EnglishDescription: p. 59-72.Type of document: INSEAD ArticleNote: Please ask us for this itemAbstract: This paper presents a framework for analysing the choice of organizational form for accessing complementary assets. We identify the conditions under which a firm will choose a market contract, an acquisition or a joint venture. Building on transaction cost theory (Williamson, 1975, 1979, 1985), and its recent extension to interorganizational relations (Hennart, 1988; Kogut, 1988), we argue that failure in the market for acquisitions is likely to be associated with firms moving from internalization to joint venture. We conclude by identifying a variety of incentives and organizational factors associated with joint venture effectiveness, including, but not limited to, the effects of reputation, learning, and repeated transactions
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INSEAD Article Europe Campus
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This paper presents a framework for analysing the choice of organizational form for accessing complementary assets. We identify the conditions under which a firm will choose a market contract, an acquisition or a joint venture. Building on transaction cost theory (Williamson, 1975, 1979, 1985), and its recent extension to interorganizational relations (Hennart, 1988; Kogut, 1988), we argue that failure in the market for acquisitions is likely to be associated with firms moving from internalization to joint venture. We conclude by identifying a variety of incentives and organizational factors associated with joint venture effectiveness, including, but not limited to, the effects of reputation, learning, and repeated transactions

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