Frequency and directional reversal of equity ownership change in international joint ventures

Akie Iriyama, Weilei (Stone) Shi*, John E. Prescott


研究成果: Article査読

7 被引用数 (Scopus)


Changes in equity ownership between international joint venture (IJV) partners over an IJV life-course represent an important behavioral manifestation of relational dynamics. We examine each occurrence of equity ownership change for two salient temporal properties: frequency (how often ownership change occurs) and directional reversal (when a partner buys and then sells, or vice versa, equity shares from another partner). Building on social exchange theory, we propose that initial partner equity imbalance and partners' country's individualism-collectivist culture has an imprinting effect on the likelihood of ownership change for both temporal properties. We developed a data set consisting of all equity changes in 200 Japanese automotive suppliers' IJVs and found support for our hypotheses while controlling for transaction cost explanations. Our findings contribute to IJV research by shedding light on temporal aspects of equity ownership change over an IJV's life course as well as the underlying exchange dynamics and the stability of IJV equity ownership distribution among partners.

ジャーナルAsia Pacific Journal of Management
出版ステータスPublished - 2014 3月

ASJC Scopus subject areas

  • ビジネスおよび国際経営
  • 経済学、計量経済学および金融学(その他)
  • 戦略と経営


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