International Joint Ventures and the Value of Growth Options
Abstract
Real options theory predicts that international joint ventures (IJVs) confer valuable growth options to firms, yet there has been no direct evidence on whether firms actually capture growth option value from such investments and under what conditions. We bridge the gap between theory and evidence by empirically testing this prediction, and we also develop the theoretical arguments that IJVs' ownership structure, product market focus, and...
Paper Details
Title
International Joint Ventures and the Value of Growth Options
Published Date
Jan 1, 2005
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