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On lemons and indigestibility: resource assembly through joint ventures

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  • Jeffrey J. Reuer
  • Mitchell P. Koza

Abstract

We revisit the relationship between two theoretical perspectives on joint ventures—the asymmetric information view and the indigestibility view. The former emphasizes the ex ante valuation challenges firms confront in combining resources, while the latter attends to ex post transaction costs arising from the extraction and integration of indivisible resources. We argue that these two views are complementary, rather than competing, in explaining the usefulness of joint ventures. We also suggest that the perspectives are overlapping inasmuch as resource indivisibility contributes to asymmetric information. Copyright © 2000 John Wiley & Sons, Ltd.

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  • Jeffrey J. Reuer & Mitchell P. Koza, 2000. "On lemons and indigestibility: resource assembly through joint ventures," Strategic Management Journal, Wiley Blackwell, vol. 21(2), pages 195-197, February.
    • Handle: RePEc:bla:stratm:v:21:y:2000:i:2:p:195-197
    DOI: 10.1002/(SICI)1097-0266(200002)21:23.0.CO;2-7
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    Cited by:

    1. Laure Dikmen & Foued Cheriet, 2021. "Different is beautiful? Effects of asymmetry on international joint-ventures performance [Différents, c'est mieux ? Analyse des effets de l'asymétrie entre les partenaires sur la performance des co," Working Papers hal-03166842, HAL.
    2. Pinar Ozcan, 2018. "Growing with the market: How changing conditions during market growth affect formation and evolution of interfirm ties," Strategic Management Journal, Wiley Blackwell, vol. 39(2), pages 295-328, February.
    3. Li, Dan, 2013. "Multilateral R&D alliances by new ventures," Journal of Business Venturing, Elsevier, vol. 28(2), pages 241-260.
    4. Koen van den Oever & Xavier Martin, 2019. "Fishing in troubled waters? Strategic decision‐making and value creation and appropriation from partnerships between public organizations," Strategic Management Journal, Wiley Blackwell, vol. 40(4), pages 580-603, April.
    5. B. Elango & Chinmay Pattnaik, 2011. "Learning Before Making the Big Leap," Management International Review, Springer, vol. 51(4), pages 461-481, August.
    6. Cristina López-Duarte & Esteban García-Canal, 2002. "The Effect of Firm and Host Country Characteristics on the Choice of Entry Mode: Empirical Evidence from Spanish Firms," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 6(2), pages 153-168, May.
    7. Hearn, Bruce, 2015. "Institutional influences on board composition of international joint venture firms listing on emerging stock exchanges: Evidence from Africa," Journal of World Business, Elsevier, vol. 50(1), pages 205-219.
    8. Thorgren, Sara & Williams, Trenton Alma, 2020. "Staying alive during an unfolding crisis: How SMEs ward off impending disaster," Journal of Business Venturing Insights, Elsevier, vol. 14(C).
    9. Dikmen, L. & Cheriet, F., 2021. "Different is beautiful? Effects of asymmetry on international joint-ventures performance," Working Papers MoISA 202101, UMR MoISA : Montpellier Interdisciplinary center on Sustainable Agri-food systems (social and nutritional sciences): CIHEAM-IAMM, CIRAD, INRAE, L'Institut Agro, Montpellier SupAgro, IRD - Montpellier, France.
    10. Cristina López-Duarte & Marta Vidal-Suárez, 2008. "Foreign direct investment through partial acquisitions: hostage effect or conflicts enhancement," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 12(3), pages 287-308, August.
    11. Cheriet, F., 2009. "Les déterminants "réseau" de l'instabilité des alliances stratégiques asymétriques : quelques développements théoriques," Working Papers MoISA 200907, UMR MoISA : Montpellier Interdisciplinary center on Sustainable Agri-food systems (social and nutritional sciences): CIHEAM-IAMM, CIRAD, INRAE, L'Institut Agro, Montpellier SupAgro, IRD - Montpellier, France.
    12. Colicev, Anatoli & De Giovanni, Pietro & Vinzi, Vincenzo Esposito, 2016. "An empirical investigation of the antecedents of partnering capability," International Journal of Production Economics, Elsevier, vol. 178(C), pages 144-153.
    13. Jaideep Anand & Raffaele Oriani & Roberto S. Vassolo, 2010. "Alliance Activity as a Dynamic Capability in the Face of a Discontinuous Technological Change," Organization Science, INFORMS, vol. 21(6), pages 1213-1232, December.
    14. Cuypers, I.R.P., 2009. "Essays on equity joint ventures, uncertainty and experience," Other publications TiSEM 8dc79e86-c625-467f-a450-8, Tilburg University, School of Economics and Management.
    15. Vittoria G. Scalera & Debmalya Mukherjee & Lucia Piscitello, 2020. "Ownership strategies in knowledge-intensive cross-border acquisitions: Comparing Chinese and Indian MNEs," Asia Pacific Journal of Management, Springer, vol. 37(1), pages 155-185, March.

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