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Joint ventures or non‐equity alliances? Evidence from Italian firms

Antonio Majocchi, Ulrike Mayrhofer, Joaquin Camps

Management Decision

ISSN: 0025-1747

Article publication date: 1 March 2013

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Abstract

Purpose

The purpose of this paper is to investigate the factors affecting the choice between joint ventures and non‐equity alliances, when firms enter foreign markets.

Design/methodology/approach

Using a database of Italian firms compiled by the authors with 879 observations, the paper tests the possible effects of firm specific characteristics, host country institutional characteristics and cultural distance on alliance mode choice.

Findings

Using both transaction cost analysis and the resource based view, the findings demonstrate the crucial role played by firm size as well as by institutional and political features of host countries. The results concerning the role of functional activities involved and the industrial sector are mixed.

Originality/value

Overall, the analysis shows that it is necessary to develop a more integrated approach to understand this complex choice made by firms when expanding abroad.

Keywords

Citation

Majocchi, A., Mayrhofer, U. and Camps, J. (2013), "Joint ventures or non‐equity alliances? Evidence from Italian firms", Management Decision, Vol. 51 No. 2, pp. 380-395. https://doi.org/10.1108/00251741311301876

Publisher

:

Emerald Group Publishing Limited

Copyright © 2013, Emerald Group Publishing Limited

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