Joint Ventures versus Contractual AgreementsAn Empirical Investigation

  1. Comino, Stefano
  2. Mariel, Petr
  3. Sandonís, Joel
Revista:
Spanish economic review

ISSN: 1435-5469

Año de publicación: 2007

Volumen: 9

Número: 3

Páginas: 159-175

Tipo: Artículo

DOI: 10.1007/S10108-006-9010-2 DIALNET GOOGLE SCHOLAR

Otras publicaciones en: Spanish economic review

Resumen

In this paper, we empirically investigate the determinants of the governance form of strategic alliances. We use a database with 1,344 worldwide alliances in several industrial sectors. In contrast with previous empirical studies, we find that alliances undertaking R&D activities are more likely to use loose forms of organization (contractual agreements) than more hierarchical ones (joint ventures), and this result is even stronger when the alliance takes place in technologically sophisticated sectors. Moreover, we show that alliances between rival firms tend also to be organized with forms closer to arm’s length transactions. When the scope of an alliance is multidimensional or the alliance is an international one, however, firms prefer more hierarchical organizations such as joint ventures.

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Fuente de los datos: Dialnet