Factors Determining Joint Venture Formation in the Agribusiness Sector of Sub-Saharan African Countries

Selassie, Habte G.; Hill, Roy

doi:10.1300/j047v05n01_05

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“…4. Similar findings for other countries have been reported in Beamish (1987) and Selassie (1995). See also Mogi (1996) for a CEO's overview of the joint venture between Kikkoman Coporation of Japan and President Enterprises of Japan.…”

Section: Proof Of Propositionsupporting

confidence: 81%

Ownership Structure and Technological Upgrading in International Joint Ventures

Lin¹,

Saggi²

2004

Review Development Economics

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In a model of a joint venture between a local and a foreign firm who provide complementary inputs, this paper derives optimal ownership structures under different sharing rules. The local firm's profits may be maximized by assigning a majority share to the foreign firm. Efficiency (i.e., the minimization of double moral hazard) requires that the firm with the more productive input should get majority ownership. When only the foreign firm can upgrade its input, it should receive a larger share than what it receives in the absence of upgrading. The analysis implies that a blanket policy of prohibiting majority foreign ownership is theoretically unfounded.

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Section: Proof Of Propositionsupporting

confidence: 81%