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Joint venture governance
Descriptive
TitleInfo
Title
Joint venture governance
SubTitle
a dissection of agreements and their anatomy
Name
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Velez-Calle
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Andres
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1977-
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Andres Velez-Calle
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author
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(type = personal)
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(type = family)
Contractor
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Farok J.
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Farok J. Contractor
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Advisory Committee
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chair
Name
(type = personal)
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(type = family)
Cantwell
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John
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John Cantwell
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Advisory Committee
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(authority = RULIB)
internal member
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(type = personal)
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(type = family)
Gaur
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(type = given)
Ajai
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Ajai Gaur
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Advisory Committee
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internal member
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Newburry
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William
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William Newburry
Affiliation
Advisory Committee
Role
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(authority = RULIB)
outside member
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Rutgers University
Role
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(authority = RULIB)
degree grantor
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Graduate School - Newark
Role
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school
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Text
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theses
OriginInfo
DateCreated
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2018
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2018-10
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2018
Place
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xx
Language
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(authority = ISO639-2b);
(type = code)
eng
Abstract
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Joint venture (JV) success greatly depends on governance mechanisms such as contracts, equity shares and boards of directors. Unlike some other types of alliances, JVs are always governed by detailed legal contracts that describe how the relationships are to be structured and governed. Using a unique database of 626 JV contracts, this dissertation expands our knowledge on JV governance through three interrelated empirical studies.
The first study examines JV contracts and the institutional determinants of their complexity by drawing on institutional theory and transaction cost economics (TCE). Results indicate that contractual complexity is greater for international JVs than for domestic JVs. In addition, contractual complexity is also related to institutional variables based on the country in which the contract is enforced. For example, complexity is higher in countries with a civil law system in comparison to common law, in countries with inefficient court systems, and in countries where corruption levels are low.
The second study addresses another crucial governance mechanism in JVs: The board of directors. A board is often used to help partner firms monitor and manage the JV, align the interests of the partners and address possible conflicts (Contractor & Reuer, 2014; Cuypers, Ertug, Reuer, & Bensaou, 2017). However, little is known about what determines whether a JV board is actually established. By analyzing the contracts and by drawing on TCE and agency theories, results show that JV boards serve as complements to JV contracts rather than substitutes. Boards are also more likely to be created for JVs which have multiple safeguards, for JVs that perform research and development, and for international JVs and JVs hosted in countries with lower quality of intellectual property rights protection.
The last study explores the relationship between equity shareholding and board participation, two important JV governance mechanisms that are presumed to be correlated. Results confirm that this correlation is strong (0.58) but not extremely high. Drawing on TCE and resource dependency theories, this chapter examines why certain joint ventures present a deviation between the percentages of board representation share versus the equity shareholding of each partner. Results indicate that board representation in international JVs tends to have a greater deviation, while JVs with deadlock clauses, large boards, and JVs hosted in stable countries deviate less.
The first study examines JV contracts and the institutional determinants of their complexity by drawing on institutional theory and transaction cost economics (TCE). Results indicate that contractual complexity is greater for international JVs than for domestic JVs. In addition, contractual complexity is also related to institutional variables based on the country in which the contract is enforced. For example, complexity is higher in countries with a civil law system in comparison to common law, in countries with inefficient court systems, and in countries where corruption levels are low.
The second study addresses another crucial governance mechanism in JVs: The board of directors. A board is often used to help partner firms monitor and manage the JV, align the interests of the partners and address possible conflicts (Contractor & Reuer, 2014; Cuypers, Ertug, Reuer, & Bensaou, 2017). However, little is known about what determines whether a JV board is actually established. By analyzing the contracts and by drawing on TCE and agency theories, results show that JV boards serve as complements to JV contracts rather than substitutes. Boards are also more likely to be created for JVs which have multiple safeguards, for JVs that perform research and development, and for international JVs and JVs hosted in countries with lower quality of intellectual property rights protection.
The last study explores the relationship between equity shareholding and board participation, two important JV governance mechanisms that are presumed to be correlated. Results confirm that this correlation is strong (0.58) but not extremely high. Drawing on TCE and resource dependency theories, this chapter examines why certain joint ventures present a deviation between the percentages of board representation share versus the equity shareholding of each partner. Results indicate that board representation in international JVs tends to have a greater deviation, while JVs with deadlock clauses, large boards, and JVs hosted in stable countries deviate less.
Subject
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Topic
Management
Subject
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Topic
Joint ventures
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Title
Rutgers University Electronic Theses and Dissertations
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ETD_9124
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electronic resource
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application/pdf
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text/xml
Extent
1 online resource (148 pages : illustrations)
Note
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Ph.D.
Note
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Includes bibliographical references
Note
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by Andres Velez-Calle
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Graduate School - Newark Electronic Theses and Dissertations
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rucore10002600001
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NjNbRU
Identifier
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doi:10.7282/t3-8zsd-a782
Genre
(authority = ExL-Esploro)
ETD doctoral
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Rights
RightsDeclaration
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The author owns the copyright to this work.
RightsHolder
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Name
FamilyName
Velez-Calle
GivenName
Andres
Role
Copyright Holder
RightsEvent
Type
Permission or license
DateTime
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2018-08-01 11:22:38
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Name
Andres Velez-Calle
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Affiliation
Rutgers University. Graduate School - Newark
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License
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Author Agreement License
Detail
I hereby grant to the Rutgers University Libraries and to my school the non-exclusive right to archive, reproduce and distribute my thesis or dissertation, in whole or in part, and/or my abstract, in whole or in part, in and from an electronic format, subject to the release date subsequently stipulated in this submittal form and approved by my school. I represent and stipulate that the thesis or dissertation and its abstract are my original work, that they do not infringe or violate any rights of others, and that I make these grants as the sole owner of the rights to my thesis or dissertation and its abstract. I represent that I have obtained written permissions, when necessary, from the owner(s) of each third party copyrighted matter to be included in my thesis or dissertation and will supply copies of such upon request by my school. I acknowledge that RU ETD and my school will not distribute my thesis or dissertation or its abstract if, in their reasonable judgment, they believe all such rights have not been secured. I acknowledge that I retain ownership rights to the copyright of my work. I also retain the right to use all or part of this thesis or dissertation in future works, such as articles or books.
Copyright
Status
Copyright protected
Availability
Status
Open
Reason
Permission or license
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2018-10-08T14:08:21
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