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On the future of international joint venture research
International joint ventures (IJVs) are an important type of international strategic alliance (ISA) and have been studied by scholars for decades, resulting in a plethora of empirical studies, publications, and reviews, yet an inadequate accumulation of knowledge exists, as a closer look reveals. Much more than providing a summary and critical assessment of past contributions, this paper develops an expansive research agenda based upon a deep understanding of past research and comprehensive frameworks that distill this research. We identify a number of research opportunities that would not only advance IJV research but also closely related literatures and disciplines such as ISAs, theories of the multinational firm, international business research, and strategic management.
Journal Article
Domestic alliance network to attract foreign partners: Evidence from international joint ventures in China
Partner selection is a critical issue in building international joint ventures (IJVs). We argue that foreign firms are more likely to select local firms with unique network structural advantages within a local alliance network. We frame structural advantages as two network position traits: centrality and brokerage. Specifically, network centrality acts as a stronger network trait than brokerage in attracting foreign IJV partners. However, such a relationship may be moderated by foreign firms' local experience and perceived capabilities. We contend that when foreign firms have a high level of local market experience and perceived capabilities, they may prefer a local broker over a centrally located local firm. Data on the domestic alliance network in China's electronics and information technology (IT) industries largely support our hypotheses. We conclude that as foreign investors become strategic insiders, they may not only seek a local partner's capability attributes, but also more critically pay attention to a local partner's domestic network.
Journal Article
Overcoming institutional voids via arbitration
Extending the literature on institutional voids, we introduce theory from law that highlights the ability of firms to choose the laws and enforcement mechanisms that govern their international joint ventures (IJVs). Specifically, firms may overcome institutional voids by borrowing institutions via binding international commercial arbitration (BICA) rather than relying on host-market institutions. Leveraging an institution-based view, we develop a theoretical framework to articulate the conditions under which IJV partners may choose BICA as opposed to domestic courts to overcome institutional voids in host markets.
Journal Article
Veto rights in international joint ventures
Notwithstanding their popularity, veto rights are inadequately understood features of international agreements, particularly interfirm exchanges such as international joint ventures (IJVs). As an interesting feature of an IJV’s governance design, they shape decision-making of the most powerful administrative mechanism of an IJV – the IJV board. IJVs’ boards play a crucial part in supporting adaptation to contingencies, but their adaptive capacity can also give rise to a different set of concerns, however: their opportunistic use by a partner in control of the board. Such behavior, we argue, can be reined in by veto rights. Building on transaction cost economics, we posit that goal conflicts owing to partner competition and environmental uncertainty contribute to the allocation of veto rights to partners. Concerns surrounding the maladaptive use of board control weaken when institutional safeguards are strong, reducing the need for veto rights. Findings from a survey of IJVs furnish evidence in support of the core proposition that veto rights can help parent firms address maladaptation. We conclude that veto rights can be an important element of partners’ arsenal when designing and governing IJVs based on comparative efficiency considerations.
Journal Article
The 1929 Sino-Soviet war : the war nobody knew
\"The first book-length study of the largely neglected 1929 Sino-Soviet war, a short but bloody one fought over the jointly operated Chinese Eastern Railroad (CER) in China's northeast. Although classified as a modern limited war, with comparatively few major engagements, it proved to be the largest military clash between China and a Western power ever fought on Chinese soil. The conflict was also the first major combat test of the reformed Soviet Red Army\"--Provided by publisher.
Book
Partnering with Leviathan
Forming international joint ventures (IJVs) with political institutions in emerging economies involves both benefits and risks for multinational enterprises (MNEs). While political partners can provide IJVs with various resources, their political status equips them with a strong position to appropriate rents in IJVs. We address this tension by examining how host state ownership affects both innovation inputs and outputs in China-based IJVs over 2008–2013. Despite the potential government opportunism, we find more R&D investment (innovation inputs) made in IJVs with state partners than in those with private ones. Thus, R&D investment can be politically motivated and symbolically managed to ensure continued resource exchanges with the host state. This political pressure is mitigated when foreign parents directly transfer home-country-based technology to IJVs, when the host-market dependence of IJV is weak, and when IJVs are located in a deregulated region. Moreover, we find foreign-host-state JVs deliver fewer innovation outputs (measured by patent data) than foreign-private JVs, which implies the failure of state partners to adequately absorb foreign technologies. These findings highlight both the state partners’ powerfulness to boost IJV innovation investment and their limits in shaping IJV innovation outcomes, and bear rich implications for the management of MNE–host government relationships.
Journal Article