Journal article
Structuring international joint ventures: bargaining, equity participation, and private information
- Abstract:
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We examine the effect of bargaining power and informational asymmetry on the design of international cooperative ventures in the presence of restrictions on equity participation and investment. When the bargaining advantage rests with the multinational, equity participation restrictions can increase the profits to domestic firms and encourage sub-optimal investment policies. Overinvestment occurs when the multinational's bargaining advantage is reinforced by an informational advantage, while ...
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- Publication date:
- 2002-01-01
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- UUID:
-
uuid:0f11254a-b8cc-4596-9ae8-28a345e29005
- Local pid:
- oai:eureka.sbs.ox.ac.uk:1118
- Deposit date:
- 2011-11-10
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- Copyright date:
- 2002
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