The Wealth effects and Strategic Competition of International Joint Venture -A Study of Japanese-U.S. IJV Announcement
| Autor: | Bi-Rung Lu, 呂碧榮 |
|---|---|
| Rok vydání: | 2003 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 91 We examine the stock price reactions for Japanese and American companies that announce joint ventures across the Japan-United States border. We Study 218 joint ventures between U.S. and Japanese companies over the 1985-2002 periods. We document that stockholders of U.S. partners realize significant gains when the joint venture is announced. Furthermore, we also display Japanese partners’ the wealth of international joint venture and as well as realize significant gain when announcing IJV investment. Beside, we employ Sundaram, John and John’s (1996) competitive strategic measure to operationalize the nature of a firm’s competitive interaction and examine the rivals’ response of IJV announcement-period. We find out that the variables represent the Operative experience on Location, Operative experience on Location and Number of IJV Partners and Currency Strength significant related with CAR for U.S.-base part, but for Japanese-base, it’s not quite persuasion for the Hypotheses. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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