Joint Venture Research Articles

Knowledge transfer and protection in international joint ventures: An integrative review

Cross-border transfer and the protection of knowledge are important for multinational enterprises (MNEs) to develop their network partners’ capabilities while simultaneously safeguarding competitive advantages. However, they can be challenging for MNEs due to cultural and institutional differences between home and host markets. This poses a dilemma for MNEs, which is how to strike a balance between their knowledge transfer (KT) and knowledge protection (KP) strategies. It is notable that, so far, research has primarily investigated these two areas independently, lacking an integrative view. Therefore, in this article, we reviewed 98 academic articles exploring knowledge transfer/protection in MNEs operating under international joint venture (IJV) arrangements and assessed publications from the last two decades (2000–2022). Drawing from institutional theory and the bargaining power perspective, we developed a conceptual framework highlighting the external and internal factors influencing KT and KP. Subsequently, we contextualized these factors within the specific domain of IJVs, drawing on insights gleaned from the studies in our sample. The interplay of these factors, along with their contextual nuances, provides a holistic and in-depth understanding of how knowledge is managed within the complex dynamics of IJVs. In addition, our review contributes to our understanding of knowledge management in MNEs by identifying novel gaps in the literature and suggesting a number of avenues for future research.

Daicel transfers its masterbatch business to Novacel joint venture, controlled by Inabata

Daicel transfers its masterbatch business to Novacel joint venture, controlled by Inabata

Current issues of industrial and technological cooperation in the EAEU countries

The subject of the study is the integration of production processes and technology exchange between Russia and the EAEU countries. The purpose of the work is to analyse the organizational and economic mechanisms of industrial and technological cooperation in the EAEU countries and to determine the conditions for increasing their effectiveness in the context of sanctions policy aimed at restricting the access of the Russian economy to foreign markets. The methodological basis of the research is a systematic approach, methods of induction, deduction, analysis and synthesis. The article considers examples of successful activities of joint ventures – one of the leading forms of industrial and technological cooperation between Russia and the EAEU countries, common in the automotive industry, aircraft manufacturing, energy and petrochemistry. Their creation stimulates economic growth, promotes industrial diversification and strengthens the international positioning of the region. The analysis revealed the following positive results from the organization of joint ventures between Russia and the EAEU countries: expansion of markets and increased production volumes, technology exchange and high innovation potential, employment generation and competence development. The problems that reduce the positive effect were also identified, in particular, the lack of harmonized standards, financial risks, managerial and cultural differences. Solving these problems requires combining the efforts of business and government agencies. The results of the study demonstrate the importance of creating and improving the efficiency of joint ventures in the EAEU countries, they can be used to adapt Russia’s economic strategy to new geopolitical conditions.

Musharakah Financing: Profitability Improvement Tool for Islamic Banks

Islamic commercial banks are part of country’s financial system and play a crucial role in business industry. Similar to other business firms, Islamic commercial banks seek profits, growth and sustainability. This study attempted to analyze the effects of musharakah financing on the profitability of Islamic commercial banks. The majority of literature of finance relates to traditional finance, which has so many weaknesses. In contrast, this study focuses on Islamic banking theory with specific emphasis on Musharakah financing which is essential mechanism in the practice of Islamic banking and finance. The data were analyzed using statistical package for social science to examine the extant of the effects of musharakah financing on the profitability of Islamic commercial banks. Results: The results showed that musharakah financing has a positive effect on profitability of Islamic commercial banks (r = 0.882, p < 0.05). The study concludes that increase in Musharakah financing significantly improves profitability of Islamic commercial banks. The study presents several managerial implications, suggesting the importance of increasing service exposure to attract new customers, enhance public awareness towards musharakah financing, conduct regular visits to gain deep and accurate information concerning the operations of joint ventures business, and finally, the bank should have clearly written policy on musharakah agreement, financing, management and control systems. This study contributes to the existing literature on Islamic finance and banking, highlighting its growing global practice and theory, driven by community ethical and financial needs, innovation, and market competitiveness.

A COMPARATIVE STUDY OF CUSTOMER SATISFACTION TOWARDS THE SOFT DRINK WITH SPECIAL REFERENCE TO PEPSI AND COCA- COLA

Pepsi was founded in New York in 1965. It is Producing Non-alcoholic beverage and Food processing items. Pepsi is a carbonated beverage that is produced and manufactured by PepsiCo. It is sold in retail stores, restaurants cinemas and from vending machines. The drink was first made in the 1890s by pharmacist Caleb Bradham in New Bern, North Carolina. The brand was trademarked on June 16, 1903. Pepsi arrived on the market in India in 1988.PepsiCo gained entry to India in 1988 by creating a joint venture with the Punjab government-owned Punjab Agro Industrial Corporation (PAIC) and Volta’s India Limited. This joint venture marketed and sold Lehar Pepsi until 1991, when the use of foreign brands was allowed; PepsiCo bought out its partners and ended the joint venture in 1994. Others claim that firstly Pepsi was banned from import in India, in 1970, for having refused to release the list of its ingredients and in 1993, the ban was lifted, with Pepsi arriving on the market shortly afterwards. These controversies are a reminder of "India’s sometimes acrimonious relationship with huge multinational companies." Indeed, some argue that PepsiCo and The Coca-Cola Company have "been major targets in part because they are well- known foreign companies that draw plenty of attention."

Exploring the factors affecting the performance of shipping companies based on a panel data model: A perspective of antitrust exemption and shipping alliances

Globally, some large shipping companies have started large-scale joint ventures to seek future development and cooperation while seizing the opportunities of the times. Meanwhile, shipping alliances have become the main theme of the shipping market. To the best of our knowledge, it is the first that we use panel data models to analyze and explore the impact of the shipping alliance membership and antitrust exemption policies for the shipping industry on the performance of shipping companies. The results show that the shipping alliance membership and antitrust exemption policies have a significant positive effect on the performance improvement of shipping companies in European countries and USA, while there are no significant impacts in other countries. The antitrust exemption policies in the shipping industry have an undeniable effect on promoting the enhancement of the national shipping industry. This study offers relevant suggestions on the advancement of the China's antitrust exemption system.

Learning generatively to facilitate marketing innovation of international joint ventures in emerging markets

PurposeThis study aims to investigate a mediation model in which generative learning positively affects marketing innovation and both organizational control and relationship openness mediate the relationship between learning intent and generative learning of international joint ventures (IJVs) in emerging markets. We also decipher the degree of necessity of these factors for generative learning and of generative learning for marketing innovation.Design/methodology/approachA sample of 181 marketing managers of IJVs in Vietnam, an emerging market, was surveyed to collect data. Partial least squares structural equation modeling (PLS-SEM) was employed to test the net effect, and necessary condition analysis (NCA) was used to decipher the degree of necessity.FindingsThe PLS-SEM results demonstrate that the effect of learning intent on generative learning is fully mediated by organizational control and relationship openness, which in turn leads to marketing innovation. The NCA findings reveal that all three factors, namely learning intent, organizational control and relationship openness, serve as necessary conditions for generative learning. However, generative learning does not play the role of a necessary condition for marketing innovation.Practical implicationsThe study findings suggest that IJVs in emerging markets should pay attention not only to the net effects of those factors but also to their degrees of necessity for generative learning in order to achieve marketing innovation.Originality/valueThe study contributes to the literature by confirming the mediating roles of organizational control and relationship openness in the relationship between learning intent and generative learning. Furthermore, it is among the first to decipher the degrees of necessity of these factors for generative learning and of generative learning for the marketing innovation of IJVs in emerging markets.

Constraints on achieving strong horizontal accountability in a public sector context—A case study of refugee resettlement in New Zealand

IMPACT An examination of the cross-governmental agency and non-government agencies’ (NGOs) programme for the delivery of refugee resettlement services in New Zealand identified little evidence of the horizontal accountability relationships that had been expected. The reasons for this problem were investigated. Recommendations to promote horizontal accountability, which apply beyond New Zealand, include rethinking legislation, establishing explicit rules and processes and fostering joint ventures. Practitioners in public management and NGOs working with the public sector, especially those involved in refugee resettlement and inter-organizational collaboration, will find this article valuable. The authors offer insights into enhancing horizontal accountability, promoting effective governance and, ultimately, significantly improving service delivery in complex public service environments.

Research joint ventures: The role of financial constraints

This paper provides a novel theory of research joint ventures for financially constrained firms. When firms choose R&D portfolios, an RJV can help to coordinate research efforts, reducing investments in duplicate projects. This can free up resources, increase the variety of pursued projects and thereby increase the probability of discovering the innovation. RJVs improve innovation outcomes when market competition is weak or external financing conditions are bad. An RJV may increase the innovation probability and nevertheless lower total R&D costs. RJVs that increase innovation also increase consumer surplus and tend to be profitable, but innovation-reducing RJVs also exist. Finally, we compare RJVs to innovation-enhancing mergers.

Industry 4.0: blockchain and its Application Possibilities in Maritime trade

The objective of the current research is to provide an overview of how blockchain can contribute to maritime logistics operations through an analysis of initiatives already carried out in the sector. This is an exploratory, initially bibliographic research conducted by searching the databases of the online journal platforms Scielo, Google Scholar, and CAPES Journals Portal. In view of the novelty of the topic, there was a need to conduct research on different academic databases, such as business forums and search engines. Prospective monitoring of the application of the technology in maritime logistics was therefore carried out. The results point to the use of blockchain were: 1. in bill of lading management (freight knowledge); 2. in a joint venture between Maersk and IBM in the development of the “Tradelens” platform, to facilitate documentation involving the cargo to be transported; and 3. in the consortium formed by AB InBev, Accenture, APL, Kuehne+Nagel, and the European Customs Organization for Blockchain-based solutions.

How geopolitical risk affect firms’ internationalization performance: Evidence from China

Geopolitical risks (GPR) arising from wars, terrorist acts and bilateral tensions. It has aroused global attention recently, especially as the COVID-19 pandemic outbreak has further disrupted normal bilateral trade exchanges. However, this argument is still too general to capture the micro impact of geopolitical risks on internationalization in developing countries. This study examines the impact of GPR on firms' internationalization performance in China. Using Chinese A-share manufacturing listed firms from 2008 to 2019, this study investigates the relationship between GPR and firms' internationalization performance. The main findings are presented as follows. First, GPR has a significantly negative effect on firms' internationalization performance. After I conduct a series of robustness tests, my findings remain valid. Second, GPR have a suppressive effect on firms' internationalization performance mainly through reducing legitimacy and investment freedom. Third, the interaction terms of product diversification, technological diversification and regional diversification with GPR have different statistical significance, and they interact with GPR to affect firms' internationalization performance. In addition, GPR have a more significant inhibitory effect on the firms' internationalization performance in developing countries along the “the Belt and Road” and joint ventures investing. Therefore, this study contributes to a better understanding of GPR and firms’ internationalization.

Effects of Family Culture and Marital Decisions of the Business Owners on Access to Financing of Very Small Businesses

Purpose: This study seeks to examine the effects of family culture (presence during family meetings, assistance in important family events, and strong family bonds) as well as marital decisions (mutual participation, joint savings decisions, and joint ventures) on access to financing of very small businesses in the North West Region of Cameroon. Methods: The study used a series of exogenous and control variables adapted from the model of Gikonyo, Agwata, & Anyango (2011) who proposed a strategic model for quantitative research. Primary data were collected through convenient sampling from 293 very small business owners in each divisional headquarters of the North West Region of Cameroon. We used the multiple correspondence analysis to construct indexes for family culture, marital decisions as well as access to financing of very small businesses. The hypotheses of the study were then tested using the ordinary least square estimation technique. Results: The results obtained showed in aggregate, a positive and significant effect of family culture and marital decisions on access to financing. More precisely, the coefficients of presence during family meetings, assistance in important family events as well as strong family bonds are positive. These results were statistically significant at 1% level. Implications: This study has significant practical implications on the financial health of very small businesses in the context of developing countries like Cameroon in general and the North West Region of Cameroon in particular plagued by the crisis and COVID-19. The study therefore concluded that if very small business owners can improve on the respect of family cultures and can jointly decide on their financial actions with their spouses, they will have better access to financing, especially in developing countries like Cameroon and more particularly in the North West Region of the country.

Safeguarding proprietary information in the supply chain and relationship‐specific investments

AbstractWe examine whether the risk of losing proprietary information through the supply chain affects relationship‐specific investment (RSI) decisions by supply chain partners. Using state courts' staggered adoption of the Inevitable Disclosure Doctrine (IDD) as a shock to the firm's ability to protect proprietary information, we find that customers increase RSI when their supplier is headquartered in a state that adopts IDD. The effect is more substantial for customers who face a higher risk of losing proprietary information and with suppliers that are difficult to substitute. IDD also plays a more prominent role in the absence of alternate mechanisms that reduce contracting frictions, such as shared directors, common ownership, or joint ventures. Our results are robust to using cross‐citation measures of RSI and alternative estimations that mitigate potential biases arising from the staggered difference‐in‐difference approach. Our findings suggest that proprietary information protection enables firms to reduce contracting frictions arising in supply chain relations.

Partner diversity and the survival of joint ventures

ABSTRACT This paper empirically examines how sources of partner diversity affect the duration of international joint ventures (JVs). We argue that synergy effect among multi-party JVs causes complementary advantages and business resource diversity, which is conducive to the survival of JVs relationship. Our estimation results show that partners diversity not only alleviates the death risk of joint venture, but also reduces the probability of sole proprietorship of them. Moreover, partners diversity can significantly stimulate the tendency and output of joint ventures’ R&D and innovation, wherein the joint R&D as an effective method promote joint ventures’ survival and development.

Navigating Global Markets: Insights into Ceramic Firm Performance and Market Entry Strategies

Analyzing the intersection of market entry strategies and ceramic firm performance in the international market, this study offers insights into the dynamics shaping the competitiveness of U.S. ceramic firms abroad. By examining the strategic decisions guiding market selection and entry modes, this research sheds light on the factors influencing the success of ceramic enterprises on the global stage. This article delves into the intricacies of market entry strategies adopted by U.S. ceramic firms as they venture into international markets. It explores the strategic decisions made regarding market selection, distinguishing between English- and non-English-speaking countries, and the various modes of entry employed, including exporting, licensing, joint ventures, subsidiaries, and retail stores. The findings from a comprehensive analysis of 57 firms engaged in international markets unveil a significant trend: firms targeting culturally similar markets, particularly English-speaking ones, tend to achieve superior revenue generation and overall performance compared to those entering non-English-speaking countries. Additionally, through a cluster analysis, the study identifies four overarching modes of entry ranging from straightforward direct exporting to more intricate strategies integrating subsidiaries and retail outlets abroad. Surprisingly, the mode of entry doesn't exhibit a clear association with performance outcomes. This suggests a cautious approach by U.S. ceramic firms, opting for markets with lower levels of uncertainty, primarily through export activities.

Реконструкция медийных социальных представлений с использованием показателей статистики текста (на материале медиадискурса о пандемии)

<p style="text-align: justify;"><strong>Objective. </strong>The aim is to present an algorithm to reconstruct media social representations based on indicators of text statistics and to conduct a comparative analysis of the construction of semantically similar media joint ventures, such as “pandemic”, “coronavirus”, “COVID-19” in Russian media. <br><strong>Background</strong>. Social representations perform the most important functions in the process of social functioning of an individual and a group, serve as a tool for cognition, adaptation and regulation of behavior and are formed taking into account the influence of media social representations. Methods for studying social representations for various social groups are presented in psychological studies, however, methods for studying media social representations are discussed in single scientific work. The presented scientific project is based on the theory of social representations by S. Moskovici and generalizations by B. Hoyer regarding the construction of media social representations (naming, emotional attachment, thematic attachment, metaphorical attachment and attachment through basic antinomies). <br><strong>Study design</strong>. The phenomenon of the coronavirus pandemic, presented in media discourse, was used as the signified in the study. The signifier is a trio of semantically similar concepts (“pandemic”, “COVID”, “coronavirus”). <br><strong>Measurements</strong>. To reconstruct media social representations, statistically stable collocations were identified to indicate the measure of association, logically close to the associative experiment. Hence, it was possible to identify thematic networks, axiological and evaluative components, components-characteristics of activity. The research material is represented by texts about the COVID-19 pandemic (January 2020-March 2022: “Rossiyskaya Gazeta”: 19471 texts, 7,97 million words; “Kommersant”: 1482 texts, 1,07 million words, “Novaya Gazeta”: 705 texts, 0,9 million words) and processed using BootCat, TreeTagger, AntConc (lemmatization, frequency analysis). <br><strong>Results</strong>. The associative fields of the joint ventures are different and contain anchoring and objectification resources when using concepts, only few elements of the associative field are similar. Thus, depending on the concept used to signify the intent of the text, stories about the fear of infection, the treatment of the disease, or resistance to the harsh elements are created. <br><strong>Conclusions</strong>. The similar algorithm based on media text statistics can be used to reconstruct any media social representation.</p>

Recommended LNG Commercialization Strategy to Maintain Business Sustainability in the Global LNG Market: A Case Study of PPTETS

LNG supply and demand growth have steadily increased in the past 12 months, recovering from pandemic-related outages in early 2021. Supported by increased LNG supply and demand, a surge in LNG trading has been seen across the world, and there is no indication of slowing down in the near future. Those situations become the opportunity for an LNG seller who has the potential uncommitted LNG supply to be offered to the buyer. PPTETS (which is not a complete name of the company, but a real Singapore registered company), which is owned 100% by PPTET Ty (which is not a complete name of the company, but a real Japan registered company), which is a joint venture company between Pertamina and various Japanese utility & power companies, is required to anticipate that opportunity. With consideration of the dynamic changes in global LNG market development, PPTETS needs to formulate the company’s business strategy, which is intended to seize future business opportunities. The main objective of this research is to formulate a PPTETS LNG commercialization business strategy to generate profit and maintain sustainability in the global LNG market. The analysis will consider both primary and secondary data, with underlying theoretical for external factors such as PESTEL analysis and Porter’s Five Forces, while for internal factors analysis will utilize a resource-based view and VRIO. As a synthesis of the company’s internal and external analysis, SWOT analysis and TOWS matrix will then be utilized. Finally, based on the analysis and formulation that has been conducted, it could be concluded that PPTETS has the opportunity and capabilities to maintain its business sustainability by trading in the global LNG market. After considering several findings from both external and internal factors of primary and secondary data, aside from cost focus leadership as a generic competitive strategy, there are 3 (three) specific business strategies recommended to PPTETS in order to generate profit and maintain sustainability, which are (i) collaboration with Pertamina, (ii) developing PPTETS internal procedures, and (iii) further PPTETS’ business development.

How does a parent’s knowledge influence the knowledge bridging of joint ventures?

Previous research has underscored the significance of the equity investment relationship in facilitating knowledge transfers between a joint venture and its parent company. Successful knowledge bridging in joint ventures plays a crucial role in shaping organizational learning and innovation performance outcomes. The empirical evidence on the effectiveness of knowledge transfers, however, presents a mixed picture. Through a rigorous sample selection process, we collect panel data on 366 joint venture-year observations across four industries during an 18-year period to empirically test the proposed hypotheses. In this research, we contend that the ability of joint ventures to act as knowledge bridges depends on the diversity of the parent’s knowledge and the technological similarity between the joint venture and the parent, especially in the context of internal knowledge development. An examination of bridging performance in the relationship between joint ventures and parent companies indicates that both parental knowledge diversity and joint venture – parent technology similarity positively impact the knowledge acquired through the joint venture – parent equity relationship. Furthermore, when the joint venture strongly depends on internal knowledge, the positive relationship among parental knowledge diversity, joint venture – parent technology similarity, and joint venture knowledge bridging becomes more pronounced. Our findings shed light on how the specific features of a parent company contribute to the knowledge learning bridged by a joint venture and underscore the role of equity investments in joint venture firms’ innovation.

Current treatment options for dry eye syndrome in children

AIM: To analyze personalized therapy for dry eye syndrome (DES) in children, depending on the etiopathogenesis and severity of the disease.
 MATERIAL AND METHODS: In total, 187 children aged 3–17 years with DES were treated. Ophthalmic medicines registered in Russia from the group of local rehydrants replacing tear fluid and stabilizing tear film were used, and a comparative analysis of their effectiveness was carried out.
 RESULTS: An individual approach was implemented, and personalized therapy focused on the individual tolerability and effectiveness of medicines was developed. The principle of DES therapy is to replenish the lacrimal fluid deficiency and stabilize all layers of the tear film, considering the etiopathogenesis and severity of clinical symptoms. At this stage, the lipid layer of the tear film was normalized with the help of hypotonic oil-based preparations that can stabilize the lipid layer. All rehydrants of low, medium, and high viscosities contributed to the restoration of the water layer of the joint venture. The deficiency of the mucin layer of the tear film was compensated by hyaluronic acid and carboxymethylcellulose, which are part of the preparations that replace the tear film. The severity of DES associated with the intensity of the clinical changes in the conjunctiva and cornea was considered when designing the DES treatment regimen in children. In cases of mild and extremely severe severity, tear-replacement medicines of low viscosity showed the greatest therapeutic effectiveness. High-viscosity preparations and gels have been proven to be effective in moderate to severe DES. During the desquamation of the conjunctival and corneal epithelium, medicines with regenerating pharmacological action related to tissue repair simulators were included in the treatment regimen. Reparants included in the combined composition of tear-replacement medicines or monopreparations were used.
 CONCLUSION: The effectiveness of the DES treatment algorithm in children with various nosologies and features of etiopathogenesis was analyzed considering disease severity. The proposed schemes of personalized tear-replacement and reparative therapy make it possible to prevent a chronic disease course and occurrence of complications and preserve or restore visual acuity.

How do joint ventures and non-equity strategic alliances impact the complexity of the supply chain and thus supply chain performance?

PurposeThis paper aims to explore the significance of resource sharing in business to capture new market opportunities and securing competitive advantages. Firms enter strategic alliances (SAs), especially for designing new products and to overcome challenges in today’s fast changing environment. Research projects have dealt with the creation of SAs, however without concrete referencing the impact on selected supply chain resources. Furthermore, academia rather focused on elaborating the advantages and disadvantages of SAs and how this affects structural changes in the organization than examining the effects on supply chain complexity and performance.Design/methodology/approachThe authors collected and triangulated a multi-industry data set containing primary data coming from more than 200 experts in the field of supply chain management along and secondary data coming from Refinitiv’s joint ventures (JVs) and SA database and IR solutions’ database for annual reports. The data is evaluated in three empirical settings using binomial testing and structural equation modeling.FindingsThe results show that nonequity SAs and JVs have varying degrees of impact on supply chain resources due to differences in the scope of the partnership. This has a negative impact on the complexity of the supply chain, with the creation of a JV leading to greater complexity than the creation of a nonequity SA. Furthermore, the findings prove that complexity negatively impacts overall supply chain performance. In addition, this study elaborates that increased management capabilities are needed to exploit the potentials of SAs and sheds light on hurdles that must be overcome within the supply network when forming a partnership. Finally, the authors give practical implications on how organizations can cope with increasing complexity to lower the risk of poor supply chain performance.Originality/valueThis study investigates occurring challenges when establishing nonequity SAs or JVs and how this affects their supply chain by examining supply networks in terms of complexity and performance.