Hamza Aib, Jacques Liouville and Hemant Merchant
The purpose of this study is to demonstrate the effect of initial international joint ventures (IJV) structural conditions on two main equity-based instability facets: change of…
Abstract
Purpose
The purpose of this study is to demonstrate the effect of initial international joint ventures (IJV) structural conditions on two main equity-based instability facets: change of IJV ownership structure and acquisition of the IJV by one of the IJV partners. Drawing on the transaction cost theory, the authors examine three key initial structural conditions: IJV formation mode, number of partners and IJV’s ownership structure.
Design/methodology/approach
The authors apply the “Event history analysis” technique to test the hypotheses using a data set of 140 French-foreign JVs.
Findings
The findings show that the mode of an acquisitive IJV and unequal equity positions held by partners increase the likelihood of a change of IJV’s ownership structure and its eventual acquisition by one of the partners. In addition, the findings show that while an increase in the number of IJV partners is directly related to the change of IJV ownership structure, it has a statistically insignificant effect on IJV acquisition.
Originality/value
Drawing on “transaction costs” arguments, this study advances the literature by offering fine-grained results related to the effects of initial structural conditions on aspects of unintended instability in French-foreign JVs.
Details
Keywords
Shazia Sadiq and Mujeeb ur Rehman
In this article, we present the numerical solution of fractional Sturm-Liouville problems by using generalized shifted Chebyshev polynomials.
Abstract
Purpose
In this article, we present the numerical solution of fractional Sturm-Liouville problems by using generalized shifted Chebyshev polynomials.
Design/methodology/approach
We combine right Caputo and left Riemann–Liouville fractional differential operators for the construction of fractional Sturm–Liouville operators. The proposed algorithm is developed using operational integration matrices of generalized shifted Chebyshev polynomials. We introduce a new bound on the coefficients of the shifted. Chebyshev polynomials subsequently employed to establish an upper bound for error in the approximation of a function by shifted Chebyshev polynomials.
Findings
We have solved fractional initial value problems, terminal value problems and Sturm–Liouville problems by plotting graphs and comparing the results. We have presented the comparison of approximated solutions with existing results and exact numerical solutions. The presented numerical problems with satisfactory results show the applicability of the proposed method to produce an approximate solution with accuracy.
Originality/value
The presented method has been applied to a specific class of fractional differential equations, which involve fractional derivatives of a function with respect to some other function. Keeping this in mind, we have modified the classical Chebyshev polynomials so that they involve the same function with respect to which fractional differentiation is performed. This modification is of great help to analyze the newly introduced polynomials from analytical and numerical point of view. We have compared our numerical results with some other numerical methods in the literature and obtained better results.