NEIL M. KAY
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780199242115
- eISBN:
- 9780191697005
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199242115.003.0009
- Subject:
- Business and Management, Strategy, Organization Studies
This chapter introduces and develops a set of principles for analysing the development of collaborative activity. These principles are useful in helping to develop an efficiency rationale for the ...
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This chapter introduces and develops a set of principles for analysing the development of collaborative activity. These principles are useful in helping to develop an efficiency rationale for the evolution of collaborative activities. The chapter focuses on the form of cooperative activity characterized by joint ventures. It begins by examining the nature of collaboration that sets the agenda for what an analysis of joint-venture activity must achieve. Market arrangements, hierarchical arrangements, and joint-venture arrangements to coordinate complementary assets are also examined. The chapter furthermore examines how the evolution of sectors may create the essential preconditions for the development of joint ventures. This analysis is then compared with actual patterns of joint venture and other collaborative activity.Less
This chapter introduces and develops a set of principles for analysing the development of collaborative activity. These principles are useful in helping to develop an efficiency rationale for the evolution of collaborative activities. The chapter focuses on the form of cooperative activity characterized by joint ventures. It begins by examining the nature of collaboration that sets the agenda for what an analysis of joint-venture activity must achieve. Market arrangements, hierarchical arrangements, and joint-venture arrangements to coordinate complementary assets are also examined. The chapter furthermore examines how the evolution of sectors may create the essential preconditions for the development of joint ventures. This analysis is then compared with actual patterns of joint venture and other collaborative activity.
Roderick Martin
- Published in print:
- 1999
- Published Online:
- October 2011
- ISBN:
- 9780198775690
- eISBN:
- 9780191695377
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198775690.003.0008
- Subject:
- Business and Management, International Business, Political Economy
Joint ventures are a flexible organizational form, to which the partners may bring different contributions, in different forms, tangible and intangible; the interests of the partners are ...
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Joint ventures are a flexible organizational form, to which the partners may bring different contributions, in different forms, tangible and intangible; the interests of the partners are complementary, not identical. This chapter is organized into six sections. Following a brief introduction, the second section examines western motivations for developing joint ventures. The third section examines local attitudes towards joint ventures, by governments, enterprises, and management groups. The fourth section examines major management issues which emerge in the development of joint ventures. The fifth section provides a case study of the Volkswagen–Skoda company in the Czech Republic, the largest private investment in the Czech Republic and one of the largest in the region. The brief conclusion suggests that joint ventures may prove to be a transitory phase for international involvement in the region.Less
Joint ventures are a flexible organizational form, to which the partners may bring different contributions, in different forms, tangible and intangible; the interests of the partners are complementary, not identical. This chapter is organized into six sections. Following a brief introduction, the second section examines western motivations for developing joint ventures. The third section examines local attitudes towards joint ventures, by governments, enterprises, and management groups. The fourth section examines major management issues which emerge in the development of joint ventures. The fifth section provides a case study of the Volkswagen–Skoda company in the Czech Republic, the largest private investment in the Czech Republic and one of the largest in the region. The brief conclusion suggests that joint ventures may prove to be a transitory phase for international involvement in the region.
Andrew Inkpen and Kannan Ramaswamy
- Published in print:
- 2005
- Published Online:
- September 2007
- ISBN:
- 9780195167207
- eISBN:
- 9780199789825
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195167207.003.0005
- Subject:
- Business and Management, Strategy
This chapter examines the nature of alliances with an emphasis on collaborative arrangements that create mutual benefits for the partners. Although once considered peripheral to competitive strategy, ...
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This chapter examines the nature of alliances with an emphasis on collaborative arrangements that create mutual benefits for the partners. Although once considered peripheral to competitive strategy, alliances have entered the mainstream and should be viewed as an integral and mandatory strategic tool for global strategy. The chapter analyzes the multiple reasons why firms choose to use strategic alliances, and considers various explanations for the rising trend in the number of alliances being formed each year. The discussion then shifts to the competitive risks and problems with alliances and some of the organizational approaches to maximizing partner mutual benefit. It argues that while some alliances may result in a zero sum game of winners and losers, if alliances are to be an integral element of global strategy, firms should seek partners with whom they can achieve an effective working relationship through the linkage of complementary assets.Less
This chapter examines the nature of alliances with an emphasis on collaborative arrangements that create mutual benefits for the partners. Although once considered peripheral to competitive strategy, alliances have entered the mainstream and should be viewed as an integral and mandatory strategic tool for global strategy. The chapter analyzes the multiple reasons why firms choose to use strategic alliances, and considers various explanations for the rising trend in the number of alliances being formed each year. The discussion then shifts to the competitive risks and problems with alliances and some of the organizational approaches to maximizing partner mutual benefit. It argues that while some alliances may result in a zero sum game of winners and losers, if alliances are to be an integral element of global strategy, firms should seek partners with whom they can achieve an effective working relationship through the linkage of complementary assets.
Eric Harwit
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199233748
- eISBN:
- 9780191715556
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199233748.003.0005
- Subject:
- Economics and Finance, South and East Asia
This chapter focuses on the country's telecommunications equipment manufacturing industries, and assesses the way industrial policy shaped them. It considers both Chinese and foreign-invested ...
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This chapter focuses on the country's telecommunications equipment manufacturing industries, and assesses the way industrial policy shaped them. It considers both Chinese and foreign-invested companies, as well as state-owned and private domestic corporations. It includes case studies of several key companies — such as Alcatel Shanghai Bell, Huawei, and ZTE — to see how well they have satisfied domestic needs, whether the companies have achieved technological advances, and how competitive they are in the international marketplace. The chapter uses some of the more traditional tools of assessing industries, taking into account sales profits and losses, and the impact of China's WTO entry on industries that have been both shielded from international competition, and benefited from foreign direct investment. It concludes that, overall, the government played a significant and positive role in shaping the industrial sector.Less
This chapter focuses on the country's telecommunications equipment manufacturing industries, and assesses the way industrial policy shaped them. It considers both Chinese and foreign-invested companies, as well as state-owned and private domestic corporations. It includes case studies of several key companies — such as Alcatel Shanghai Bell, Huawei, and ZTE — to see how well they have satisfied domestic needs, whether the companies have achieved technological advances, and how competitive they are in the international marketplace. The chapter uses some of the more traditional tools of assessing industries, taking into account sales profits and losses, and the impact of China's WTO entry on industries that have been both shielded from international competition, and benefited from foreign direct investment. It concludes that, overall, the government played a significant and positive role in shaping the industrial sector.
Joseph A. McCahery and Erik P. M. Vermeulen
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199203406
- eISBN:
- 9780191707780
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199203406.003.0005
- Subject:
- Law, Company and Commercial Law
This chapter shows that hybrid business vehicles usually offer firms the freedom to contractually establish the rights and obligations within their organizational structure, which accounts for the ...
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This chapter shows that hybrid business vehicles usually offer firms the freedom to contractually establish the rights and obligations within their organizational structure, which accounts for the popularity of these forms for pooled investments and other risky ventures. While there is great demand for the utilization of these forms, the every-changing nature of the business environment confirms the importance of flexible provisions giving parties not only the opportunity to contract around the company law default rules, but also permitting them to contract into additional protective measures that match their preferences.Less
This chapter shows that hybrid business vehicles usually offer firms the freedom to contractually establish the rights and obligations within their organizational structure, which accounts for the popularity of these forms for pooled investments and other risky ventures. While there is great demand for the utilization of these forms, the every-changing nature of the business environment confirms the importance of flexible provisions giving parties not only the opportunity to contract around the company law default rules, but also permitting them to contract into additional protective measures that match their preferences.
Mark Casson
- Published in print:
- 1995
- Published Online:
- October 2011
- ISBN:
- 9780198289579
- eISBN:
- 9780191684746
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198289579.003.0007
- Subject:
- Economics and Finance, Financial Economics
Joint ventures (JVs) serve as a means for staggered divestment or acquisition because they lessen the chances of loss by diverging firms and minimize risk by acquiring firms. JVs involve contractual ...
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Joint ventures (JVs) serve as a means for staggered divestment or acquisition because they lessen the chances of loss by diverging firms and minimize risk by acquiring firms. JVs involve contractual arrangements that aim to minimize transaction costs. As JVs aid in the expansion of multinational enterprises, JVs have played an important role in business organization and in restructuring the international economy. This chapter looks into how a JV strategy can be explained in terms of internalization. The chapter illustrates several different cases in which various motives for internalization are exhibited in a variety of contexts. Also, the chapter introduces the notion of co-operation and examines how this may serve as a technique for entrepreneurs.Less
Joint ventures (JVs) serve as a means for staggered divestment or acquisition because they lessen the chances of loss by diverging firms and minimize risk by acquiring firms. JVs involve contractual arrangements that aim to minimize transaction costs. As JVs aid in the expansion of multinational enterprises, JVs have played an important role in business organization and in restructuring the international economy. This chapter looks into how a JV strategy can be explained in terms of internalization. The chapter illustrates several different cases in which various motives for internalization are exhibited in a variety of contexts. Also, the chapter introduces the notion of co-operation and examines how this may serve as a technique for entrepreneurs.
Mark Casson
- Published in print:
- 1995
- Published Online:
- October 2011
- ISBN:
- 9780198289579
- eISBN:
- 9780191684746
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198289579.001.0001
- Subject:
- Economics and Finance, Financial Economics
This book looks at international economic performance at the end of the 20th century. The book explores in particular performance issues connected with international business. It focuses especially ...
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This book looks at international economic performance at the end of the 20th century. The book explores in particular performance issues connected with international business. It focuses especially on the interplay between economic and cultural determinants of the behaviour of multinational firms. Chapter 1 offers a selective survey of recent trends in international business activities, and explores the limits of conventional economic analysis to these trends. Chapter 2 develops a ‘systems view’ of international business. Chapter 3– combines economic and cultural determinants of performance within a single analytical framework. The basic argument is that, after allowing for obvious factors such as different resource endowments and different attitudes to work and saving, comparative economic performance is explained by comparative transaction costs, and that these are culture-specific. The economic content of a culture is related to implicit scientific and religious attitudes which are transmitted through education, the media, and personal contact within social groups. The last two chapters discuss more specific applications of the theory. Chapter 7 looks at the joint venture and Chapter 8 at telecommunications. This book as a whole illustrates the power of an approach which synthesizes economic and cultural factors within a systems view of international production.Less
This book looks at international economic performance at the end of the 20th century. The book explores in particular performance issues connected with international business. It focuses especially on the interplay between economic and cultural determinants of the behaviour of multinational firms. Chapter 1 offers a selective survey of recent trends in international business activities, and explores the limits of conventional economic analysis to these trends. Chapter 2 develops a ‘systems view’ of international business. Chapter 3– combines economic and cultural determinants of performance within a single analytical framework. The basic argument is that, after allowing for obvious factors such as different resource endowments and different attitudes to work and saving, comparative economic performance is explained by comparative transaction costs, and that these are culture-specific. The economic content of a culture is related to implicit scientific and religious attitudes which are transmitted through education, the media, and personal contact within social groups. The last two chapters discuss more specific applications of the theory. Chapter 7 looks at the joint venture and Chapter 8 at telecommunications. This book as a whole illustrates the power of an approach which synthesizes economic and cultural factors within a systems view of international production.
Jeremy Horder
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199561919
- eISBN:
- 9780191743306
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199561919.003.0006
- Subject:
- Law, Criminal Law and Criminology
This chapter defends the law commission's proposals for liability for homicide arising from a joint criminal venture. It defends the common law view, namely that when someone foresees that another ...
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This chapter defends the law commission's proposals for liability for homicide arising from a joint criminal venture. It defends the common law view, namely that when someone foresees that another party to a joint criminal venture may commit murder, and that other person does commit murder, the person who foresaw that the murder might take place in the course of the venture is also liable to be convicted of murder. Quite simply, someone should not be permitted to avoid secondary liability for the very crime that they foresaw might be committed in the course of a criminal venture in which they were a willing participant. The chapter also discusses the dilemma of the codifier of the law, who is caught between demands for detailed exposition of the law, and competing demands for simplicity and economy of language in offence definition.Less
This chapter defends the law commission's proposals for liability for homicide arising from a joint criminal venture. It defends the common law view, namely that when someone foresees that another party to a joint criminal venture may commit murder, and that other person does commit murder, the person who foresaw that the murder might take place in the course of the venture is also liable to be convicted of murder. Quite simply, someone should not be permitted to avoid secondary liability for the very crime that they foresaw might be committed in the course of a criminal venture in which they were a willing participant. The chapter also discusses the dilemma of the codifier of the law, who is caught between demands for detailed exposition of the law, and competing demands for simplicity and economy of language in offence definition.
Sea-Jin Chang
- Published in print:
- 2013
- Published Online:
- January 2014
- ISBN:
- 9780199687077
- eISBN:
- 9780191766923
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199687077.003.0002
- Subject:
- Business and Management, International Business
Chapter 2 examines multinational firms’ strategies in China. Multinational firms do not appreciate forced joint ventures. Thus, they refused to import their sophisticated technology and/or brands ...
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Chapter 2 examines multinational firms’ strategies in China. Multinational firms do not appreciate forced joint ventures. Thus, they refused to import their sophisticated technology and/or brands when entering China until competitive pressures became too intense. When the joint venture requirement policy relaxed, already entered multinational firms transformed their incumbent joint ventures into wholly owned subsidiaries. This enabled foreign firms to bring in more intangible resources and improve firm performance. This chapter also examines the sequential expansion of multinational firms upon entry. Multinational firms tended to expand from affluent and open coastal regions into inland areas in order to capture early mover advantages and avoid competition. More recent investments tend to be larger and favor greenfield investments over acquisitions. This chapter begins with a case study of the Chinese automobile industry in which multinational firms were required to form joint ventures to enter, which in turn posed great management challenges.Less
Chapter 2 examines multinational firms’ strategies in China. Multinational firms do not appreciate forced joint ventures. Thus, they refused to import their sophisticated technology and/or brands when entering China until competitive pressures became too intense. When the joint venture requirement policy relaxed, already entered multinational firms transformed their incumbent joint ventures into wholly owned subsidiaries. This enabled foreign firms to bring in more intangible resources and improve firm performance. This chapter also examines the sequential expansion of multinational firms upon entry. Multinational firms tended to expand from affluent and open coastal regions into inland areas in order to capture early mover advantages and avoid competition. More recent investments tend to be larger and favor greenfield investments over acquisitions. This chapter begins with a case study of the Chinese automobile industry in which multinational firms were required to form joint ventures to enter, which in turn posed great management challenges.
Eric Harwit
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199233748
- eISBN:
- 9780191715556
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199233748.003.0003
- Subject:
- Economics and Finance, South and East Asia
This chapter asks whether companies owned by the state actually effectively compete with each other. A major potential problem with the shielding effect of industrial policy is that state-owned or ...
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This chapter asks whether companies owned by the state actually effectively compete with each other. A major potential problem with the shielding effect of industrial policy is that state-owned or protected corporations have no reason to strive for greater efficiency, better service, or a larger market share when they are essentially all part of the same family. However, it is shown that giant public Chinese telecommunications service companies like China Telecom, China Unicom, and others actually became fiercely competitive. This chapter examines reasons for this competitive nature and assesses the positive benefits for the Chinese economy and for consumers. It concludes that there was a high degree of competition between Chinese ministries and their state-owned corporations, and that even within the state, sector organizations can generate the kind of dynamic that spurs both price competition and the rapid expansion of services.Less
This chapter asks whether companies owned by the state actually effectively compete with each other. A major potential problem with the shielding effect of industrial policy is that state-owned or protected corporations have no reason to strive for greater efficiency, better service, or a larger market share when they are essentially all part of the same family. However, it is shown that giant public Chinese telecommunications service companies like China Telecom, China Unicom, and others actually became fiercely competitive. This chapter examines reasons for this competitive nature and assesses the positive benefits for the Chinese economy and for consumers. It concludes that there was a high degree of competition between Chinese ministries and their state-owned corporations, and that even within the state, sector organizations can generate the kind of dynamic that spurs both price competition and the rapid expansion of services.
Eric Harwit
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199233748
- eISBN:
- 9780191715556
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199233748.003.0006
- Subject:
- Economics and Finance, South and East Asia
This chapter examines the ways a key city in China, namely Shanghai, built both its telecommunications infrastructure and operations services. It highlights the policy process at the municipal level ...
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This chapter examines the ways a key city in China, namely Shanghai, built both its telecommunications infrastructure and operations services. It highlights the policy process at the municipal level and indicates how city officials can work to develop this key sector. The chapter first briefly presents patterns of local government policies to build communications networks. It then focuses on the city of Shanghai to see how the regional government acted to build the industry. It probes for ways officials outside of the central system have contributed to building the sector on a regional basis. In doing so, it includes case study focus on several key companies, including Shanghai Unicom, AT&T, Eastday.com, and several key municipal corporations. It concludes that a scrupulous municipal government, working with a supportive national government and foreign investors that remained under control, could bring about effective economic growth in a key sector such as telecommunications.Less
This chapter examines the ways a key city in China, namely Shanghai, built both its telecommunications infrastructure and operations services. It highlights the policy process at the municipal level and indicates how city officials can work to develop this key sector. The chapter first briefly presents patterns of local government policies to build communications networks. It then focuses on the city of Shanghai to see how the regional government acted to build the industry. It probes for ways officials outside of the central system have contributed to building the sector on a regional basis. In doing so, it includes case study focus on several key companies, including Shanghai Unicom, AT&T, Eastday.com, and several key municipal corporations. It concludes that a scrupulous municipal government, working with a supportive national government and foreign investors that remained under control, could bring about effective economic growth in a key sector such as telecommunications.
Albert N Link and Jamie R. Link
- Published in print:
- 2009
- Published Online:
- September 2009
- ISBN:
- 9780195369458
- eISBN:
- 9780199871018
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195369458.003.0003
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This chapter describes the research joint venture (RJV) organizational structure through which government acts as entrepreneur. Public and private organizations participate in RJVs, and public ...
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This chapter describes the research joint venture (RJV) organizational structure through which government acts as entrepreneur. Public and private organizations participate in RJVs, and public resources are indirectly used to encourage the partnership formation. The use of public resources, meaning the lessening of prevailing antitrust laws, creates a legal environment conducive for cooperative research. It is this legal environment that is the technology infrastructure relevant to government as entrepreneur.Less
This chapter describes the research joint venture (RJV) organizational structure through which government acts as entrepreneur. Public and private organizations participate in RJVs, and public resources are indirectly used to encourage the partnership formation. The use of public resources, meaning the lessening of prevailing antitrust laws, creates a legal environment conducive for cooperative research. It is this legal environment that is the technology infrastructure relevant to government as entrepreneur.
Stephen D. Cohen
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780195179354
- eISBN:
- 9780199783779
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195179354.003.0005
- Subject:
- Economics and Finance, International
Given the book's pivotal argument that there is no “one size fits all” model of either MNCs or FDI, this chapter presents a lengthy analysis and description of the many distinct forms that they take. ...
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Given the book's pivotal argument that there is no “one size fits all” model of either MNCs or FDI, this chapter presents a lengthy analysis and description of the many distinct forms that they take. The oft-repeated imperatives of disaggregation and avoidance of generalizations are direct outgrowths of the absence of uniformity. The implications of the widespread failure of policymakers, the general public, and most scholars to recognize and appreciate heterogeneity are discussed, with specific reference to the resulting failure to differentiate between costs and benefits, high quality and low quality FDI and MNCs depending on which of the various forms and behavior patterns are assumed by an individual foreign subsidiary. The second and third sections of the chapter consist of lengthy, value-free empirical profiles of the various forms of FDI and MNCs, respectively.Less
Given the book's pivotal argument that there is no “one size fits all” model of either MNCs or FDI, this chapter presents a lengthy analysis and description of the many distinct forms that they take. The oft-repeated imperatives of disaggregation and avoidance of generalizations are direct outgrowths of the absence of uniformity. The implications of the widespread failure of policymakers, the general public, and most scholars to recognize and appreciate heterogeneity are discussed, with specific reference to the resulting failure to differentiate between costs and benefits, high quality and low quality FDI and MNCs depending on which of the various forms and behavior patterns are assumed by an individual foreign subsidiary. The second and third sections of the chapter consist of lengthy, value-free empirical profiles of the various forms of FDI and MNCs, respectively.
Huiping Li and John Cantwell
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199646005
- eISBN:
- 9780199949977
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199646005.003.0003
- Subject:
- Business and Management, International Business, Innovation
This chapter begins by describing the evolution of foreign direct investment (FDI) in China, and the types of innovative firms in China. From a typology of the most significant forms of innovative ...
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This chapter begins by describing the evolution of foreign direct investment (FDI) in China, and the types of innovative firms in China. From a typology of the most significant forms of innovative Chinese enterprises, the special significance of the role of international joint ventures (IJVs) is explained. IJVs have been central to the connections between innovative firm capability building in China and the capacity to learn from, transfer, and absorb technological knowledge from multinational companies originating from mature industrialized countries. Original IJV survey evidence is used to show how capability building in IJVs depended critically upon the integration of their activities with foreign parent companies, and how local technology adaptation in China has resulted in distinctively new innovations. The increasing technological interdependence between different categories of innovative firms in China is discussed, as is the relationship between firm capability building and policy.Less
This chapter begins by describing the evolution of foreign direct investment (FDI) in China, and the types of innovative firms in China. From a typology of the most significant forms of innovative Chinese enterprises, the special significance of the role of international joint ventures (IJVs) is explained. IJVs have been central to the connections between innovative firm capability building in China and the capacity to learn from, transfer, and absorb technological knowledge from multinational companies originating from mature industrialized countries. Original IJV survey evidence is used to show how capability building in IJVs depended critically upon the integration of their activities with foreign parent companies, and how local technology adaptation in China has resulted in distinctively new innovations. The increasing technological interdependence between different categories of innovative firms in China is discussed, as is the relationship between firm capability building and policy.
Mark Casson
- Published in print:
- 1995
- Published Online:
- October 2011
- ISBN:
- 9780198289579
- eISBN:
- 9780191684746
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198289579.003.0001
- Subject:
- Economics and Finance, Financial Economics
The conventional economic theory can thoroughly explain the growth of horizontally integrated multinational companies during the 1950s and the 1960s. However, this theory is not rich enough to ...
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The conventional economic theory can thoroughly explain the growth of horizontally integrated multinational companies during the 1950s and the 1960s. However, this theory is not rich enough to explain recent developments in international business such as the rise of a new international division of labour, the growth of the service sector in the 1970s, the emergence of joint ventures, and the importance of Japanese foreign direct investment (FDI). This chapter introduces the three main aspects of the conventional theory and presents the theory's limitations. The book provides new insights and rediscovers old insights regarding the said developments. The book also presents the application of these insights to international business, economics, and other social sciences.Less
The conventional economic theory can thoroughly explain the growth of horizontally integrated multinational companies during the 1950s and the 1960s. However, this theory is not rich enough to explain recent developments in international business such as the rise of a new international division of labour, the growth of the service sector in the 1970s, the emergence of joint ventures, and the importance of Japanese foreign direct investment (FDI). This chapter introduces the three main aspects of the conventional theory and presents the theory's limitations. The book provides new insights and rediscovers old insights regarding the said developments. The book also presents the application of these insights to international business, economics, and other social sciences.
Ruben Lee
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780198297048
- eISBN:
- 9780191685309
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198297048.003.0005
- Subject:
- Business and Management, Finance, Accounting, and Banking, Political Economy
In order to illustrate the factors that influence how and why exchanges cooperate with each other this chapter presents some case studies of various cooperative linkages, joint projects, and also one ...
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In order to illustrate the factors that influence how and why exchanges cooperate with each other this chapter presents some case studies of various cooperative linkages, joint projects, and also one merger, between diverse stock and futures exchanges. The chapter is composed of two sections. In the first, a series of market linkages and joint ventures proposed and undertaken by various stock exchanges are described. These include various European projects (IDIS, Euroquote, and Eurolist), three American–Canadian order routing linkages (between the AMEX and the TSE, the MSE and the TSE, and the BSE and ME), and two Anglo–American projects (between the PHLX and the LSE, and the NASD and the LSE). In the second section, several cooperative schemes pursued by diverse futures exchanges are discussed. These include the mutual-offset link between the CME and the Singapore International Monetary Exchange (SIMEX), GLOBEX, three European linkages — between DTB and MATIF, between OM and OMLX, and the FEX proposal, and finally the merger between NYMEX and COMEX.Less
In order to illustrate the factors that influence how and why exchanges cooperate with each other this chapter presents some case studies of various cooperative linkages, joint projects, and also one merger, between diverse stock and futures exchanges. The chapter is composed of two sections. In the first, a series of market linkages and joint ventures proposed and undertaken by various stock exchanges are described. These include various European projects (IDIS, Euroquote, and Eurolist), three American–Canadian order routing linkages (between the AMEX and the TSE, the MSE and the TSE, and the BSE and ME), and two Anglo–American projects (between the PHLX and the LSE, and the NASD and the LSE). In the second section, several cooperative schemes pursued by diverse futures exchanges are discussed. These include the mutual-offset link between the CME and the Singapore International Monetary Exchange (SIMEX), GLOBEX, three European linkages — between DTB and MATIF, between OM and OMLX, and the FEX proposal, and finally the merger between NYMEX and COMEX.
James F. Blumstein
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780195390131
- eISBN:
- 9780199775934
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195390131.003.007
- Subject:
- Law, Medical Law
This chapter considers the integration of (i) physician services and (ii) the institutional and economic interests of hospitals. These issues provide a vehicle for addressing the institutional ...
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This chapter considers the integration of (i) physician services and (ii) the institutional and economic interests of hospitals. These issues provide a vehicle for addressing the institutional fragmentation arising from existing hospital-governance regulation. How, and to what extent, should economic considerations factor into medical-care decision-making? What regulatory structure should govern physician–hospital interrelationships? Whereas hospitals once followed an “eBay” model, they now have their own institutional interests. Hospitals have independent duties to patients, and responsibilities to assure quality of care and manage costs. These realities call into question the traditional regulatory/governance structure of hospitals. The regulatory regime for integrated delivery networks (IDNs) is more flexible than the traditional JCAHO hospital model. The chapter concludes that (i) the legal/regulatory environment should not dictate how physician–hospital relationships should develop, nor the appropriate organizational form; and (ii) regulatory flexibility and “regulatory neutrality” should guide public policy in this arena.Less
This chapter considers the integration of (i) physician services and (ii) the institutional and economic interests of hospitals. These issues provide a vehicle for addressing the institutional fragmentation arising from existing hospital-governance regulation. How, and to what extent, should economic considerations factor into medical-care decision-making? What regulatory structure should govern physician–hospital interrelationships? Whereas hospitals once followed an “eBay” model, they now have their own institutional interests. Hospitals have independent duties to patients, and responsibilities to assure quality of care and manage costs. These realities call into question the traditional regulatory/governance structure of hospitals. The regulatory regime for integrated delivery networks (IDNs) is more flexible than the traditional JCAHO hospital model. The chapter concludes that (i) the legal/regulatory environment should not dictate how physician–hospital relationships should develop, nor the appropriate organizational form; and (ii) regulatory flexibility and “regulatory neutrality” should guide public policy in this arena.
John Kay
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198289883
- eISBN:
- 9780191718205
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/019828988X.003.0010
- Subject:
- Economics and Finance, Microeconomics
Mergers can add value when they enable distinctive capabilities to be exploited more widely or more effectively. However, as it is most often the case, mergers and alliances are the result of ...
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Mergers can add value when they enable distinctive capabilities to be exploited more widely or more effectively. However, as it is most often the case, mergers and alliances are the result of financial objectives and typically fall short of the hopes of their promoters.Less
Mergers can add value when they enable distinctive capabilities to be exploited more widely or more effectively. However, as it is most often the case, mergers and alliances are the result of financial objectives and typically fall short of the hopes of their promoters.
Mark Casson
- Published in print:
- 1995
- Published Online:
- October 2011
- ISBN:
- 9780198289579
- eISBN:
- 9780191684746
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198289579.003.0009
- Subject:
- Economics and Finance, Financial Economics
The concluding chapter of the book argues that adopting a systems view in analysing production is helpful in understanding the new division of labor, and that identifying the physical aspects, ...
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The concluding chapter of the book argues that adopting a systems view in analysing production is helpful in understanding the new division of labor, and that identifying the physical aspects, particularly the spatial aspects, may be analysed to the firm's advantage. It also looks at differentiating high-level entrepreneurship from low-level entrepreneurship, and other such issues regarding entrepreneurship and the processes and behaviors of agencies in production. Most importantly, it argues that the systems view has enabled us to view the importance of social mechanisms of co-ordination. Mutual trust among agencies is deemed essential in entrepreneurship and in international business because, as in joint ventures, it does not only minimize risks but it also lowers transaction costs for firms.Less
The concluding chapter of the book argues that adopting a systems view in analysing production is helpful in understanding the new division of labor, and that identifying the physical aspects, particularly the spatial aspects, may be analysed to the firm's advantage. It also looks at differentiating high-level entrepreneurship from low-level entrepreneurship, and other such issues regarding entrepreneurship and the processes and behaviors of agencies in production. Most importantly, it argues that the systems view has enabled us to view the importance of social mechanisms of co-ordination. Mutual trust among agencies is deemed essential in entrepreneurship and in international business because, as in joint ventures, it does not only minimize risks but it also lowers transaction costs for firms.
Glenn Bugos
- Published in print:
- 2000
- Published Online:
- August 2013
- ISBN:
- 9780262082853
- eISBN:
- 9780262275873
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262082853.003.0005
- Subject:
- Philosophy, Philosophy of Science
This chapter discusses joint ventures and how federal regulation shaped the contours of its growth in each decade following 1950. Joint ventures were less popular and very rare before 1950; companies ...
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This chapter discusses joint ventures and how federal regulation shaped the contours of its growth in each decade following 1950. Joint ventures were less popular and very rare before 1950; companies only resorted to using them when a merger was prohibited—mostly by the complications of acquiring foreign technology or entering foreign markets. Their appearance beginning in 1950 was often within the technological frontier of the United States. In the energy industries, oil and gas companies formed joint ventures to build new pipelines or pool the risks of searching for new oil. In manufacturing, they helped firms pool production expertise or build plants of minimum efficient scales. However, most joint ventures only served to circumvent the Clayton Act, and in 1964, the Federal Trade Commission was successful in preventing these incidents via the Supreme Court decision in Penn v. Olin.Less
This chapter discusses joint ventures and how federal regulation shaped the contours of its growth in each decade following 1950. Joint ventures were less popular and very rare before 1950; companies only resorted to using them when a merger was prohibited—mostly by the complications of acquiring foreign technology or entering foreign markets. Their appearance beginning in 1950 was often within the technological frontier of the United States. In the energy industries, oil and gas companies formed joint ventures to build new pipelines or pool the risks of searching for new oil. In manufacturing, they helped firms pool production expertise or build plants of minimum efficient scales. However, most joint ventures only served to circumvent the Clayton Act, and in 1964, the Federal Trade Commission was successful in preventing these incidents via the Supreme Court decision in Penn v. Olin.
