On the future of international joint venture research

International joint ventures (IJVs) are an important type of international strategic alliance (ISA) and have been studied by scholars for decades, resulting in a plethora of empirical studies, publications, and reviews, yet an inadequate accumulation of knowledge exists, as a closer look reveals. Much more than providing a summary and critical assessment of past contributions, this paper develops an expansive research agenda based upon a deep understanding of past research and comprehensive frameworks that distill this research. We identify a number of research opportunities that would not only advance IJV research but also closely related literatures and disciplines such as ISAs, theories of the multinational firm, international business research, and strategic management

Hybrid administrative interfaces : authority delegation and reversion in strategic alliances

Steering committees are pivotal for governing complex collaborations by consensus to facilitate coordination and knowledge sharing. Although consensus-based governance promotes mutuality, it can also cause deadlocks, stalling expeditious decision making. We examine the conditions under which alliance partners delegate decision-making authority to steering committees as well as the conditions under which authority over discordant matters can be relocated to one of the alliance partners. We argue that joint coordination concerns increase the likelihood of authority delegation, whereas the higher costs and stakes associated with decision stalemates provide grounds for authority reversion. Empirical analyses of strategic alliances in the biopharmaceutical industry support our arguments. Our paper demonstrates the versatility of contractually defined administrative interfaces in alliance governance, allowing partners to coordinate bilaterally and adapt hierarchically as and when required

Realizing a deep reinforcement learning agent discovering real-time feedback control strategies for a quantum system

To realize the full potential of quantum technologies, finding good strategies to control quantum information processing devices in real time becomes increasingly important. Usually these strategies require a precise understanding of the device itself, which is generally not available. Model-free reinforcement learning circumvents this need by discovering control strategies from scratch without relying on an accurate description of the quantum system. Furthermore, important tasks like state preparation, gate teleportation and error correction need feedback at time scales much shorter than the coherence time, which for superconducting circuits is in the microsecond range. Developing and training a deep reinforcement learning agent able to operate in this real-time feedback regime has been an open challenge. Here, we have implemented such an agent in the form of a latency-optimized deep neural network on a field-programmable gate array (FPGA). We demonstrate its use to efficiently initialize a superconducting qubit into a target state. To train the agent, we use model-free reinforcement learning that is based solely on measurement data. We study the agent’s performance for strong and weak measurements, and for three-level readout, and compare with simple strategies based on thresholding. This demonstration motivates further research towards adoption of reinforcement learning for real-time feedback control of quantum devices and more generally any physical system requiring learnable low-latency feedback control

Strategic implications of valuation methods

Author's OriginalStrategy is ultimately aimed at creating shareholder value, placing valuation in a central role linking finance and strategy. Focusing on growth options, this paper uses a unique "perfect information" model to examine, from a strategy point of view, the relationship between the market value of the firm and its intrinsic, or DCF, value. Although the research is at the level of the firm, the results have implications at the level of individual strategies and projects, since a firm can be conceptualized as a collection of projects. The findings highlight the relationship between the value of growth options and macroeconomic conditions, industry characteristics, and firm-specific factors. A revised version of this paper has since been published in the journal Advances in Strategic Management. Please use this version in your citations.Alessandri, T. M., Lander, D. M., & Bettis, R. A. (2007), Strategic Implications of Valuation: Evidence from Valuing Growth Options, in Professor Brian Silverman (ed.) Real Options Theory. Advances in Strategic Management, 24, 459-48

Consumer perceptions of co-branding alliances: Organizational dissimilarity signals and brand fit

This study explores how consumers evaluate co-branding alliances between dissimilar partner firms. Customers are well aware that different firms are behind a co-branded product and observe the partner firms’ characteristics. Drawing on signaling theory, we assert that consumers use organizational characteristics as signals in their assessment of brand fit and for their purchasing decisions. Some organizational signals are beyond the control of the co-branding partners or at least they cannot alter them on short notice. We use a quasi-experimental design and test how co-branding partner dissimilarity affects brand fit perception. The results show that co-branding partner dissimilarity in terms of firm size, industry scope, and country-of-origin image negatively affects brand fit perception. Firm age dissimilarity does not exert significant influence. Because brand fit generally fosters a benevolent consumer attitude towards a co-branding alliance, the findings suggest that high partner dissimilarity may reduce overall co-branding alliance performance

Network capitalism and the role of strategy, contracts and performance expectations for Asia-Pacific innovation partnerships

© Springer Nature Singapore Pte Ltd. 2018. With the growth of emerging economies in Asia-Pacific over the last three decades collaboration with the aim of innovation between firms within and with partners outside the region have developed substantially. Not always have such partnerships fulfilled their anticipated strategic objectives. The literature suggests that the nature of market arrangements and the role of government within that system play a role, but also innate contracting practices and governance of innovation partnerships are related. Yet, our understanding about the specific relationships between these factors and the emerging partnership innovation culture that facilitates joint business activities in an Asia-Pacific context remains vague. In this conceptual chapter we suggest how characteristics of so called network capitalism in conjunction with the nature of contractual agreements between partners, the alignment of their innovation objectives and the ambiguity inherent in their mutual contributions to the partnership can be interpreted as indicators of joint innovation culture. However, while innovation partnerships generally may result to be bureaucratic, market, clan, or adhocracy, we discuss how in an Asia Pacific context, innovation partnerships are limited by the extent of codification and diffusion of information and the social embeddedness of economic transactions

Dissolved Pb and Pb isotopes in the North Atlantic from the GEOVIDE transect (GEOTRACES GA-01) and their decadal evolution

During the 2014 GEOVIDE transect, seawater samples were collected for dissolved Pb and Pb isotope analysis. These samples provide a high-resolution snapshot of the source regions for the present Pb distribution in the North Atlantic Ocean. Some of these stations were previously occupied for Pb from as early as 1981, and we compare the 2014 data with these older data, some of which are reported here for the first time. Lead concentrations were highest in subsurface Mediterranean Water (MW) near the coast of Portugal, which agrees well with other recent observations by the US GEOTRACES program (Noble et al., 2015). The recently formed Labrador Sea Water (LSW) between Greenland and Nova Scotia is much lower in Pb concentration than the older LSW found in the West European Basin due to decreases in Pb emissions into the atmosphere during the past 20 years. Comparison of North Atlantic data from 1989 to 2014 shows decreasing Pb concentrations consistent with decreased anthropogenic inputs, active scavenging, and advection/convection. Although the isotopic composition of northern North Atlantic seawater appears more homogenous compared to previous decades, a clear spatiotemporal trend in isotope ratios is evident over the past 15 years and implies that small changes to atmospheric Pb emissions continue. Emissions data indicate that the relative proportions of US and European Pb sources to the ocean have been relatively uniform during the past 2 decades, while aerosol data may suggest a greater relative proportion of natural mineral Pb. Using our measurements in conjunction with emissions inventories, we support the findings of previous atmospheric analyses that a significant portion of the Pb deposited to the ocean in 2014 was natural, although it is obscured by the much greater solubility of anthropogenic aerosols over natural ones.</p

Family involvement and firms’ establishment mode choice in foreign markets

Extant literature on foreign entry increasingly recognizes firms’ heterogeneity as a potential reason for inconsistency in results on the establishment mode choice, i.e. whether and under which conditions firms should choose to enter a new country through a greenfield investment or an acquisition. Our study contributes to this debate by identifying family ownership and family involvement in management as potential powerful sources of such heterogeneity. Integrating international business studies with both corporate finance literature on family firms and recent contributions from the Socio Emotional Wealth perspective on family ownership, we claim that, due to greater risk aversion and lower access to information, the family involvement either in the firm ownership and management leads to a higher propensity towards greenfield initiatives (vs. acquisitions). However, we also find that such a propensity decreases with international experience especially in family-owned firms given the greater ability of professionalized management to overcome family-related concerns on making acquisitions. Our analysis on 1,045 foreign initiatives undertaken by 311 Italian family and non-family firms between 2003 and 2013 confirms our expectations – indicating family ownership as a significant driver of international business choices

Primary, new and export production in the NW Pacific subarctic gyre during the vertigo K2 experiments

Author Posting. © Elsevier B.V., 2008. This is the author's version of the work. It is posted here by permission of Elsevier B.V. for personal use, not for redistribution. The definitive version was published in Deep Sea Research Part II: Topical Studies in Oceanography 55 (2008): 1594-1604, doi:10.1016/j.dsr2.2008.04.013.This paper presents results on tracer experiments using 13C and 15N to estimate uptake rates of dissolved inorganic carbon (DIC) and nitrogen (DIN). Experiments were carried out at station K2 (47°N, 161°E) in the NW Pacific subarctic gyre during July-August 2005. Our goal was to investigate relationships between new and export production. New production was inferred from the tracer experiments using the f ratio concept (0-50m); while export production was assessed with neutrally buoyant sediment traps (NBSTs) and the e ratio concept (at 150m). During trap deployments, K2 was characterized both by changes in primary production (523 to 404 mg C m-2 d-1), new production (119 to 67 mg C m-2 d-1), export production (68 to 24 mg C m-2 d-1) and phytoplankton composition (high to low proportion of diatoms). The data indicate that 17 to 23% of primary production is exportable to deeper layers (f ratio) but only 6 to 13% collected as a sinking particle flux at 150m (e ratio). Accordingly, > 80% of the carbon fixed by phytoplankton would be mineralized in the upper 50m (1 – f), while < 11% would be within 50-150m (f – e). DIN uptake flux amounted to 0.5 mM m-2 h-1, which was equivalent to about 95% particulate nitrogen (PN) remineralized and/or grazed within the upper 150 m. Most of the shallow PN remineralization occurred just above the depth of the deep chlorophyll maximum (DCM), where a net ammonium production was measured. Below the DCM, while nitrate uptake rates became negligible because of light limitation, ammonium uptake did continue to be significant. The uptake of ammonium by heterotrophic bacteria was estimated to be 14-17% of the DIN assimilation. Less clear are the consequences of this uptake on the phytoplankton community and biogeochemical processes, e.g. new production. It was suggested that competition for ammonium could select for small cells and may force large diatoms to use nitrate. This implies that under Fe stress as observed here, ammonium uptake is preferred and new production progressively suppressed despite the surplus of nitrate.This research was supported by the Research Foundation Flanders through grant G.0021.04 and Vrije Universiteit Brussel via grant GOA 22, as well as the US National Science Foundation programs in Chemical and Biological Oceanography