Joint Venture Research Articles

A Decade of [in]Transition

“A Decade of [in]Transition: Reflecting on Past Challenges and Future Possibilities” describes the editorial experience of the award-winning, peer-reviewed journal [in]Transition on the occasion of its ten-year anniversary. After an introduction on the journal’s initial theoretical framing, the first part considers the production of new knowledge historically by engaging with select pieces published throughout the past decade while also reflecting on challenges the journal faced in the first decade of publication. It also considers early challenges faced by the editorial team such as the problem of establishing scholarly legitimacy for a new methodology and making the videographic method accessible to both junior and senior scholars. The second part considers the production of new knowledge via newer provocations, such as vidding, the embrace of YouTube, and other videographic modes that push against traditionally-defined boundaries of the “essayistic.” Our reflections occur on the eve of in[Transition] migrating—after a decade as a joint venture with MediaCommons—to the Open Library of Humanities (OLH), joining a roster of other open access scholarly journals.

THE PRIORITY DIRECTION OF ECONOMIC DEVELOPMENT IN THE SPHERE OF INNOVATION THE FACTOR OF PUBLIC-PRIVATE SECTOR COOPERATION

Such a vital trend for the economic development of innovation, as the above-defined cooperation between the public and the private sectors, mere fact becomes possible only due to such a symbiosis. The symbiosis of two fundamentally oppositional structures creates a context in which a unique ecosystem, propelling innovation and economic improvement, can be facilitated. On the one hand, the public sector brings an incredible insight into regulation capacities and significant funding utilities. The issue that arises in this partnership is a market failure when none of the sectors can encourage technological development on their own. A partnership, however, does help to establish innovation hubs, encourage research and development, and facilitate commercialization. Governments through adjusting public policies to the private sector and indulging in joint ventures overcome market failure and stimulate innovation. Such partnerships also beneficial in addressing societal problems via innovation, thus, at the long-run level, private and public unions become a necessity.

The influence of local institutional dynamics on foreign ownership in international joint ventures: Speed, irregularity and synchronization

This research focuses on how three dynamics of institutions--speed, irregularity and synchronization of pro-market reforms −-lead to adjustment of ownership structures in established international joint ventures (IJVs). Based on empirical research on the ownership adjustments by IJVs in 30 provinces in China, I find that MNEs tend to take higher ownership in IJVs in regions with more rapid and synchronized reforms, while they are less likely to increase ownership share in provinces with highly irregular reforms. Moreover, rapid reforms are more likely to stimulate foreign ownership in regions with initially poor institutions, while regular and synchronized reforms help to increase foreign ownership when the institutional development is relatively mature. The findings suggest that managers in multinational enterprises pay more attention to the dynamics of institutions in host markets, and host governments carry out pro-market reforms more rapidly and steadily to attract foreign investments.

Defying the gravity of “dominant parent” Sino-foreign JVs Chinese state leadership and control of Eurasia Aviation Corporation, 1931–1943

In 1931, Deutsche Luft Hansa and China's Nationalist government came together to form the Sino-German airline Joint Venture (JV), the Eurasia Aviation Corporation. Eurasia plied the skies over China and beyond, as part of its mandate to project newfound state power in a global infrastructural race to prove its technocratic capabilities and modern identity. By tracing the founding, development, and dissolution of Eurasia Aviation Corporation, this paper seeks to overturn the paradigm of the “dominant parent” enterprise where the foreign side controlled the destinies of Sino-foreign JVs. Using epistles and contracts between Luft Hansa, the Executive Yuan, Eurasia, and the ministries that had purview over the Sino-foreign JV – as well as using aerophilatelic catalogues, route networks, and Chiang Kai-shek's lectures ( Chinese Citizenry and Aviation) – this paper proposes that Nationalist state actors were capable of formidable and strategic stewardship over the business that transcended the quasi-equity on paper.

Rental Housing Supply and Build-to-Rent Conundrum in Australia

Traditionally, rental housing has been supplied by a large pool of individual investors who own a few units and invest their savings, with some leverage, to take advantage of the tax regime in Australia. The last five years have seen the emergence of build-to-rent (BTR) units, which are supplied by investors who own a large number of units. The state of Victoria in Australia has the largest share of these projects. In the current market and regulatory environment, the financial viability of BTR projects is low for investors and hinges on the ability of units to be leased at higher than market rents. This paper examines four groups of levers, including those already being pursued by the building industry, that can be used to improve the financial viability of BTRs. These include: (i) revenue maximization, (ii) cost reduction (iii) fiscal and (iv) planning incentives. An archetypical BTR project which mimics current practice is considered, assumed to be in Docklands, Victoria, where several BTR projects are planned. For the robustness check, a feasibility analysis is conducted for a site in North Melbourne, a neighbourhood in Victoria with several BTR projects. The results indicate that for revenue maximization, the mix of unit types in a BTR project should be location-specific, as market preferences (and the characteristics of renters) determine the rent for different types of units that can be achieved. In a conventional BTR project development, where land is bought upfront and the project is developed, the mixed-use BTR (residential in combination with commercial) does not provide significant financial benefits though including small retail (3–4% of the net lettable area) may provide complementary benefits. Incurring large capital costs upfront and having the revenue stream spread over long periods reduces financial viability. While construction costs are more difficult to reduce, ways to reduce land costs could be through zoning land for BTR use, through mechanisms such as joint ventures with landowners, and land leasing. Exemptions on income, land tax, and rates (like CHPs) can result in a higher return for investors. A full GST refund, an incentive that industry is lobbying for, results in a similar IRR as an exemption on income, land tax and rates would offer. These results will assist in determining priorities for policies that are aimed at BTR.

A global community-based approach to supporting social and emotional learning

The benefits of social and emotional learning (SEL) are well-documented in the literature, leading to increased advocacy in school settings. In fact, it has been suggested that SEL should be integrated into all aspects of the students’ life–in every classroom, after-school activity, summer program, and beyond. Therefore, contemporary SEL programming must be flexible to meet the specific needs of the school community and be accomplished with diverse resources without imposing additional burdens on educators or schools. Furthermore, a global perspective is essential, with joint ventures among international educational communities to share teaching approaches, cultural values, and resources. We argue for the necessity of a global community-based approach to create a flexible SEL delivery model. We present two distinct SEL programs, bringing multiple international institutions together to provide enriching learning experiences for all. Through continuous communication and feedback gathered from community members, each SEL program focuses directly on what matters and what is needed for each school community at the time of the collaboration. Actively involving all relevant groups (e.g., students, educators, parents, school districts, university faculty, undergraduates, and pre-service teachers), we demonstrate how a global community-based approach can be applied to bring SEL into mainstream educational practice across the world.

Creditor's Legal Protection Related to Debtor's Default in A Joint Venture Partnership

Creditor's Legal Protection Related to Debtor's Default in A Joint Venture Partnership

Strategic alliances and competitive advantage of commercial banks in Kenya

Commercial banks in Kenya operate in quite dynamic financial market environment and continue to experience stiff competition in the provision of financial services. The liberation of the financial markets has resulted into an upsurge in the number of institutions providing financial products and services, threatening the future of Kenyan commercial banks. This study aimed at determining the effect of strategic alliances on competitive advantage of commercial banks in Kenya. The objectives were to determine effect of joint ventures, equity alliances, and joint research and development on the competitiveness of Kenyan banks. The following theories informed this research; Resource Based View theory, competitive theory, and resource dependence theory. Causal research design was adopted where all the 42 Kenyan commercial banks formed the target population. Census survey sampling design was applied and semi-structured questionnaire used. Reliability and validity results were used to improve the research instrument prior to the actual data collection. Data was analyzed using descriptive and inferential statistics. Study found that joint venture (?=0.435, p=0.000) equity alliances (?=0.227, p=0.018), and joint research and development (?=0.0.612, p=0.000) had positive significant effects on competitive advantage. With a coefficient of determination (R-square) of 68.9% and overall p-value of 0.000, the study concluded strategic alliances have a statistical significant effect on competitive advantage. The study recommends that managements of commercial banks should fast-truck implementation of such alliances to for improved competitiveness.

Environmental Policies and Countermeasures for the Phase-Out of Ozone-Depleting Substances (ODSs) over the Last 30 Years: A Case Study in Taiwan

It is well established that the reaction cycles involving some halogenated alkanes (so-called ozone-depleting substances—ODSs) contribute to the depletion of ozone in the stratosphere, prompting the Montreal Protocol (initially signed in 1987), and later amendments. The Protocol called for the scheduled phase-out of ODSs, including chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs), carbon tetrachloride (CCl4), halon, methyl chloroform (CH3CCl3), methyl chloride (CH3Cl), and even hydrofluorocarbons (HFCs). In view of the urgent importance of ozone layer protection to the global ecological environment, the Taiwanese government has taken regulatory actions to reduce ODS consumption since 1993, through the joint venture of the central competent authorities. Under the government’s regulatory requirements, and the industry’s efforts to adopt both alternatives to ODSs and abatement technologies, the phase-out of some ODSs (i.e., CFCs, CCl4, halon, and CH3CCl3) was achieved prior to 2010. The consumption of HCFCs and methyl chloride has significantly declined over the past three decades (1993–2022). However, HFC emissions indicated a V-type variation during this period. Due to local production and extensive use of HFCs in Taiwan, the country’s emissions increased from 663 kilotons of carbon dioxide equivalents (CO2eq) in 1993 to 2330 kilotons of CO2eq in 2001, and then decreased to 373 kilotons of CO2eq in 2011. Since then, the emissions of HFCs largely used as the alternatives to ODSs showed an upward trend, increasing to 1555 kilotons of CO2eq in 2022. To be in compliance with the Kigali Amendment (KA-2015) to the Montreal Protocol for mitigating global warming, the Taiwanese government has taken regulatory actions to reduce the consumption of some HFC substances with high global warming potential (GWP) under the authorization of the Climate Change Response Act in 2023, aiming at an 80% reduction by 2045 of the baseline consumption in 2024.

Internationalization of Companies: a Systematic Literature Review Supported by Bibliometric Analysis

Objective: Conduct a comprehensive analysis of the internationalization of companies (IE) over the past three decades, exploring topics ranging from alliance strategies to mergers and acquisitions (M&A). Theoretical Framework: Over the past decades, the study of internationalization has gained importance with the reduction of border barriers. Hamel (1991) highlighted the role of international strategic alliances in promoting competition and learning. Multinational companies from emerging markets have become relevant, and early international expansion has driven competitiveness and innovation. Method: The methodology combines Systematic Literature Review (SLR) and Bibliometric Analysis (BA), using VOSviewer 1.6.20 software to explore networks of co-authorship, co-citation, and co-occurrence in 246 articles published between 1991 and 2023. Results and Discussion: The results revealed challenges in internationalization, such as selecting suitable partners and mitigating risks. Understanding the factors of success or failure is crucial. Opportunities include consistent product strategies that enhance global competitiveness and strategic collaborations, such as international alliances and joint ventures, which promote learning and innovation. Organizational learning offers a sustainable competitive advantage. Implications of the Research: The practical and theoretical implications discussed provide insights into how the results may influence practices in the field of alliances within a globalized business environment. Originality/Value: This study adopts an interdisciplinary approach, highlighting the importance of contextual, cultural, institutional, and economic factors in understanding the complexities of international strategic alliances.

Veto rights in international joint ventures

Veto rights in international joint ventures

Deadlock and Joint Ventures

Deadlock and Joint Ventures

Boosting Domestic and International Joint Ventures’ Growth Through Ultimate Owners’ Goal Congruence (WITHDRAWN)

Boosting Domestic and International Joint Ventures’ Growth Through Ultimate Owners’ Goal Congruence (WITHDRAWN)

Preface

2024 8th International Conference on Data Mining, Communications and Information Technology (DMCIT 2024), was successfully held on May 25, 2024, which was organized by Asia Pacific Institute of Science and Engineering (APISE), media supported by Internet of Things Technologies, Modern Electronics Technique, Journal of Xidian University, Journal of Information and Intelligence, OPTICAL COMMUNICATION TECHNOLOGY, Telecommunication Engineering. The conference was held in Hong Kong from May 24-26, 2024 as planned. Considering that some participants could not attend in person, the conference was adjusted as a hybrid conference, as a combination of on-line and off-line conference. The proceedings of this year’s edition comprised three main categories: “1. Advanced Methods and Algorithms”; “2. Applied Technologies in Various Domains”; “3. Case Studies and Practical Implementations”. All these submissions were rigorously reviewed by the Program Committee. The conference attracted 45 submissions in total, and out of 27 papers were accepted, including countries like Canada, France, China, India, New Zealand, Spain, Thailand, etc. On the conference day, 8 oral presentations and 18 poster presentations were arranged according to the participants’ choices. Each presenter was given 15 minutes to deliver their presentation, including 3 minutes Q&A. Two awards, one best oral presentation award and one best poster presentation award were selected by the end of the conference. The conference was inaugurated with the esteemed Dr. Simon Fong from the University of Macau, Macau S.A.R., China, and Dr. Ka-Chun Wong from the City University of Hong Kong, Hong Kong S.A.R., China, both delivering outstanding opening remarks. The conference was honored by the presence of four eminent keynote speakers who graced the event with their distinguished speeches. Professor Xianbin Wang from Western University, Canada, Professor Raymond Chi-Wing Wong from The Hong Kong University of Science and Technology, Hong Kong, Professor Steven Guan from Xi’an Jiaotong-Liverpool University, China, and Professor Chin-Chen Chang from Feng Chia University, Taiwan ROC, each shared their latest and profoundly insightful research perspectives. The technical session and poster session were formally presided over by Prof. Jiwat Ram, who delivered exemplary and thought-provoking remarks. The DMCIT 2024 conference is dedicated to showcasing the most recent findings and scholarly work in the realms of Data Mining, Communications, Information Technology, and associated fields. Through a combination of oral presentations and poster sessions, the event facilitates a platform for participants to engage in the exchange of innovative concepts, forge professional or academic alliances, and seek out international collaborators for prospective joint ventures. We express our collective gratitude to all participants for their invaluable contributions. The shared knowledge and spirited discussions have been the lifeblood of our gathering, igniting a passion for innovation and collaboration. We are deeply inspired by the intellectual curiosity and the pursuit of knowledge that have been the defining attributes of our conference. The synergy of ideas and the collaborative spirit have laid a robust foundation for the ongoing evolution and progress within our disciplines. Looking forward, we anticipate the enduring impact of this conference, confident that the seeds of thought sown here will flourish into a bountiful harvest of academic achievements. List of Committees are available in this Pdf.

Perlindungan Penanaman Modal Asing dan Pengaruh Pertembuhuan Ekonomi Berdasarkan Neo-Classical Economy Theory

Foreign investment is a leading sector and provides many benefits for the welfare of society. Investment in the tourism sector, especially the hotel sector, is wide open to foreign investors, both full ventures and joint ventures. This research uses normative juridical legal research methods. Regulations regarding Foreign Investment (PMA) in Indonesia are currently in Law Number 25 of 2007 concerning Capital Investment (UUPM) with several amendments through Law Number 11 of 2007 of 2020 on Job Creation. At the time of its birth, the UUPM was considered a breakthrough which was born as a new law and included domestic investment legislation (PMDN). Safe investments require legal protection from the government so that they can be run with a better business plan. Government policies that support investors towards investment security will be a big attraction for investing in Indonesia. To attract investors who want to invest their capital, it is necessary to build a supportive environment, work opportunities and permits that can be mutually beneficial. It can be concluded that politics has a big influence on the entry of foreign investors

The distinctiveness effect: How cross-country dissimilarities influence governance decisions

Transaction cost theory is one of the most commonly used theories to explain how firms govern their economic activities. In the context of cross-border collaborations, transaction cost theory proposes that dissimilarities between the partners’ home countries, which constitute a key source of behavioral uncertainty, affect how collaborations are governed (i.e. whether firms opt for equity joint ventures or non-equity alliances). Although many firms are likely to face more than one dimension of dissimilarity—for example, in terms language and religion, as well as culture—studies in transaction cost theory typically focus on how each source of dissimilarity impacts governance choices independently, in isolation. We integrate insights from research on decision-making and social psychology into the logic of transaction cost theory to theorize about how multiple dimensions of dissimilarity interactively impact governance choices in collaborative agreements, such that the influence of a given level of dissimilarity is not independent of the level of dissimilarity in other dimensions. Specifically, we propose that the impact of dissimilarity on a given dimension on these governance choices will be lower, that is, negatively moderated, when dissimilarities on other dimensions are higher. For example, a given level of cultural distance will have a greater impact on governance choice when linguistic distance is low (because cultural distance becomes more distinctive) as compared to a case when linguistic distance is not low. Our analysis of 21,951 cross-border non-equity alliances and equity joint ventures yields support for our predictions.

Design Approach for an Advanced Multi-Channel Pyrometer for Bulk Oven Processes

Industrial processes such as smelting and sintering require stable and precise temperature control of furnaces. To achieve this, accurate temperature measurements are required. Pyrometry allows for contact- less measurement of bulk materials and is particularly suitable for high temperature applications. One of the main influences on the accuracy of pyrometric measurements is the knowledge of the emissivity in the spectral measurement range. To reduce this dependence, two-color pyrometers or multi-color pyrometers can be used. With this in mind, the IRS is further developing their existing pyrometer technology by designing an advanced multi-channel pyrometer for bulk oven processes in a joint venture with Stange Elektronik GmbH and New Generation Kilns Grün GmbH. The design approach is explained here and the considered methods of achieving emissivity independent temperature measurements are examined.

Political uncertainty and revenue sharing in international contracting

This study investigates a critical source of political uncertainty for foreign investors in a centralised political system: leadership turnover within local governments. Our stylised model suggests that risk-averse foreign investors, faced with this uncertainty, tend to offer a larger revenue share to their local partners in international joint ventures (IJVs). This incentivises local officials to provide the necessary authorisations and public inputs for IJVs. Using a unique Chinese dataset that links city-level leadership changes with firm-level incentive structures, our empirical analysis provides robust evidence supporting this framework.

How host-country firms’ information transparency affects MNEs’ joint venture entry mode of OFDI: evidence from Chinese listed manufacturing firms

Purpose Information transparency is an important factor in enhancing trust and promoting interfirm cooperation. By combining transaction cost theory and institutional theory, this study aims to examines whether host-country firms’ information transparency prompt multinational enterprises’ (MNEs) to choose the joint venture entry mode for outward foreign direct investment (OFDI). Design/methodology/approach Using Heckman two-stage estimation method, this study examines Chinese listed manufacturing firms for the period 2014–2019. Findings The findings indicate that the higher the information transparency of host-country firms, the higher the possibility of MNEs choosing the joint venture entry mode for OFDI. This study further finds that the positive relationship between host country firms’ information transparency and the possibility of choosing the joint venture entry mode is enhanced by institutional distance, but weakened by MNEs’ host-country experience. Originality/value How to choose the appropriate entry mode of OFDI in the internationalization strategy is an important issue for MNEs to consider. As the postpandemic world is characterized by increased global risks, decoupling of economies, disruption of global value chains and the retreat of globalization (Contractor and Cantwell, 2022), how to further strengthen cooperation, reduce the cost and risk of MNEs and truly realize common construction and sharing is one of the hot issues in both practice and research.

Russia and China: Motives, Opportunities, and Risks of Technological Partnership

After external trade restrictions were imposed on Russia and China in recent years, their access to foreign technologies decreased. This created new incentives for scientific and technological partnership between the two countries. In addition, an analysis of strategic documents indicates that the US and the EU are likely to increase economic and technological pressure in the future. This article analyzes China’s experience in shoring up technological sovereignty under sanctions, an exercise which can be instructive for many countries. China’s long-term scientific and technological policy follows a catch-up development model, which has enabled a transition from borrowing simple technologies via specialized institutions (joint ventures, special economic zones, etc.) to global leadership in R&D and technologies that has been made possible through developing human capital and applying preferential treatment to local innovative businesses. Although Russia is one of the world’s leading scientific and technological centers, to some extent it lags in developing high-tech businesses and exports. Moreover, for some time it has been importing advanced products and technologies, some of which are now being quickly replaced by Chinese versions as Western companies have exited. The article applies a SWOT analysis to Russian-Chinese scientific and technological cooperation in order to highlight the benefits of this collaboration, especially concerning machine tools, microelectronics, and aerospace. The benefits from such partnership will materialize for most high-tech industries over the long run by means of joint scientific research. However, one cannot ignore the risks for Russia due to increased technological dependence on a single partner and the potential outflow of personnel and technology, as well as risks for China related to potential secondary sanctions.