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Alliances internationales, accumulation d'expérience et création de valeur pour les actionnaires:le cas des coentreprises sino-françaises

Author

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  • Pierre-Xavier Meschi
  • Jérôme Hubler

    (Université d'Aix-Marseille 2)

Abstract

This article deals with the valuation effect of Sino-French joint ventures, and more precisely with the impact of certain organizational resources proper to French partners. An analysis of abnormal returns was carried out in a sample of Sino-French joint ventures announcements. A significant and negative cumulated impact was highlighted over an event window of 7 days. Moreover, multi-variate regression analyses showed that French companies engaged in China were valuated positively as they possessed an important international and managerial experience.

Suggested Citation

  • Pierre-Xavier Meschi & Jérôme Hubler, 2002. "Alliances internationales, accumulation d'expérience et création de valeur pour les actionnaires:le cas des coentreprises sino-françaises," Revue Finance Contrôle Stratégie, revues.org, vol. 5(3), pages 169-194, September.
    • Handle: RePEc:dij:revfcs:v:5:y:2002:i:q3:p:169-194
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    More about this item

    Keywords

    joint venture; experience; abnormal returns; China.;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures

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