Bargaining power, ownership and control of international joint ventures in Taiwan

This thesis provides an empirical analysis of international joint venture activities in Taiwan. The primary purpose is to examine control and its antecedents in terms of ownership, bargaining power, resources contribution, and motivation for forming international joint ventures. Primary data collected by a mail questionnaire is analysed along five core dimensions of international joint venture activities. First, the mechanism, focus, and extent of parent control is identified and tested in a number of sample characteristics. These empirical results also reveal that most joint ventures in Taiwan have higher autonomy and have more autonomy on the appointment of key function managers. Parent firms seek to focus their control over specific activities of the joint ventures rather than attempting to control the entire range of joint venture activities. Second, the results of equity shares held by the host country parents and foreign parents show that both parents have minority shareholding in the joint ventures. A higher ownership by the parents in joint ventures indicates that they have a higher percentage of board members. Third, the relative importance of a set of bargaining power is identified with hypothesis testing of the relationship between control and bargaining power. There is little evidence that the relationship between bargaining power and control is not closely associated. Fourth, the relative importance of resource contribution by parents is identified and hypotheses are tested on the relationship between control and resource contribution factors. The results are strongly supported that the relationships between resource contributions in terms of physical, invisible, financial, human, and organizational ability of parents and their control has significant and positive associations. Fifth, the relative importance of a set of motives for international joint venture formation is identified and hypotheses are tested on the relationship between control and motivation factors in terms of technological acquisition, knowledge learning, risk sharing, competitive strategy consideration, resource complementarily, market expansion. The findings reveal a limited number of significant correlations between motivation factors and control

Antecedents of new venture performance : an empirical study of IPO (Initial Public Offering) ventures

To address a ubiquitous phenomenon in the venture area - why certain ventures persistently outperform others, but some of them do not - this research pursued to answer a specific research question: what are antecedents of venture performance? This research brought together two complementary theories, the resource-based view (RBV) and social network theory. By framing its conceptual model with two complementary theories and by using Initial Public Offering data, this research contributed to both academia and practitioners/policy makers with a prescriptive Initial Public Offering (IPO) performance model. The final sample for this study was 103 IPO firms, which underwent an IPO in 1997. To test eight hypotheses developed from the conceptual model, this research collected its data from reliable secondary sources, such as IPO prospectus, the Center for Research in Security Prices (CRSP) database, the U.S. patent and trademark office, the Wall Street Journal, and the PR Newswires. Several different hierarchical regressions indicated that internal resources ( technology, reputation, and top management team (TMT) capability ) were antecedents of IPO performance

Toward a process theory of entrepreneurship: revisiting opportunity identification and entrepreneurial actions

This dissertation studies the early development of new ventures and small business and the entrepreneurship process from initial ideas to viable ventures. I unpack the micro-foundations of entrepreneurial actions and new ventures’ investor communications through quality signals to finance their growth path. This dissertation includes two qualitative papers and one quantitative study. The qualitative papers employ an inductive multiple-case approach and include seven medical equipment manufacturers (new ventures) in a nascent market context (the mobile health industry) across six U.S. states and a secondary data analysis to understand the emergence of opportunities and the early development of new ventures. The quantitative research chapter includes 770 IPOs in the manufacturing industries in the U.S. and investigates the legitimation strategies of young ventures to gain resources from targeted resource-holders.Open Acces