پیوندهای مفید
اخبار و اعلانات
آمار
| تعداد نشریات | 158 |
| تعداد شمارهها | 6,225 |
| تعداد مقالات | 67,685 |
| تعداد مشاهده مقاله | 114,983,041 |
| تعداد دریافت فایل اصل مقاله | 89,654,682 |
Identifying the Factors that Form Corporate Governance in International Joint Ventures: Learning from the Joint Investment Companies Located in the Middle East | ||
| Interdisciplinary Journal of Management Studies (Formerly known as Iranian Journal of Management Studies) | ||
| دوره 17، شماره 1، فروردین 2024، صفحه 125-146 اصل مقاله (1000 K) | ||
| نوع مقاله: Research Paper | ||
| شناسه دیجیتال (DOI): 10.22059/ijms.2023.341106.675039 | ||
| نویسندگان | ||
| Mohammad Hadi Sadegh* 1؛ Maryam Parchami Sarghein2 | ||
| 1Department of Management, Science & Technology, Amirkabir University of Technology, Tehran, Iran | ||
| 2Department of Business Management, Faculty of Management, University of Tehran, Tehran, Iran | ||
| چکیده | ||
| A successful international joint venture (IJV) is characterized by good corporate governance (CG); however, despite its importance, no study has been conducted that explains how CG forms in IJVs specifically. Due to the complexity of IJVs, we concentrated on CG and its formative factors exclusively, and this approach made this study and its findings unique. Thus, depicting a comprehensive portrait containing the influential factors that form CG in IJVs and validating the findings through a case study are the aims of this study. Out of the initial pool of 400 relevant publications, 77 factors of CG formation were identified via the systematic literature review research method. Among all of the recognized factors, just nine of them were found to be in effect for the case study companies, which are three Middle-Eastern IJVs. Lastly, “industry, business, and environment” were found as the determinant of formative factors in each type of IJVs. | ||
| کلیدواژهها | ||
| International Joint Venture؛ Corporate Governance؛ Joint Investment Company؛ Middle East؛ Formative Factors | ||
| مراجع | ||
|
AlHares, A. (2020), "Corporate governance mechanisms and R&D intensity in OECD courtiers", Corporate Governance, 20(5), 863-885.
Asensio-López, D., Cabeza-García, L. and González-Álvarez, N. (2019), "Corporate governance and innovation: a theoretical review", European Journal of Management and Business Economics, 28(3), 266-284.
Aslam, E. and Haron, R. (2021), "Corporate governance and banking performance: the mediating role of intellectual capital among OIC countries", Corporate Governance, 21(1), 111-136.
Audretsch, D. B., and Link, A. N. (2019). Embracing an entrepreneurial ecosystem: an analysis of the governance of research joint ventures. Small Business Economics, 52(2), 429-436.
Audretsch, D. B., Leyden, D. P., and Link, A. N. (2017). Universities as research partners in publicly supported entrepreneurial firms. in Universities and the Entrepreneurial Ecosystem: Edward Elgar Publishing.
Bakker, R. M. (2016). Stepping in and stepping out: Strategic alliance partner reconfiguration and the unplanned termination of complex projects. Strategic Management Journal, 37(9), 1919-1941.
Bamahros, H. M., Alquhaif, A., Qasem, A., Wan-Hussin, W. N., Thomran, M., Al-Duais, S. D., ... & Khojally, H. M. (2022). Corporate governance mechanisms and ESG reporting: Evidence from the Saudi Stock Market. Sustainability, 14(10), 6202.
Barros, F.E.E.d., Santos, R.C.d., Orso, L.E. and Sousa, A.M.R. (2021), "the evolution of corporate governance and agency control: the effectiveness of mechanisms in creating value for companies with IPO on the Brazilian stock exchange", Corporate Governance, 21(5), 775-814.
Bettany-Saltikov, J. (2012). How to do a systematic literature review in nursing: a step-by-step guide: McGraw-Hill Education.
Bodnaruk, A., Massa, M., and Simonov, A. (2013). Alliances and corporate governance. Journal of Financial Economics, 107(3), 671-693.
Chen, J. (2020). What Is an Investment Company? [online] www.investopedia.com
Chen, R, El Ghoul, S, Guedhami, O, Liu, F. (2022) the Corporate Governance Consequences of Small Shareholdings: Evidence from Sovereign Wealth Fund Cross-Border Investments. Corp Govern Int Rev.
Child, J., and Rodrigues, S. (2004). Corporate Governance in International Joint Ventures: Toward a Theory of Partner Preferences. Working Papers.
Chung, C. C., and Beamish, P. W. (2012). Multi-party international joint ventures: Multiple post-formation change processes. Journal of World Business, 47(4), 648-663.
Clarke, T. (2014). The impact of financialization on international corporate governance: the role of agency theory and maximizing shareholder value. Law and Financial Markets Review, 8(1), 39-51.
Dandapani, K., & Shahrokhi, M. (2022). Guest editorial: Historical perspectives on corporate governance debate and introduction to the special issue on corporate governance and sustainability. Managerial Finance, (ahead-of-print).
Das, T. K., and Teng, B.-S. (2001). Trust, control, and risk in strategic alliances: An integrated framework. Organization Studies, 22(2), 251-283.
Davis, J. H., Schoorman, F. D., and Donaldson, L. (1997). Toward a stewardship theory of management. Academy of management review, 22(1), 20-47.
Debellis, F., and Pinelli, M. (2020). Board interlocks in SMEs and the formation of international joint ventures. Piccola Impresa/Small Business, (2).
Dess, G., Lumpkin, G.T., Eisner, A., McNamara, G. (2013). Strategic Management: Text and Cases. 7th Edition. McGraw-Hill.
Effah, N. A. A., Asiedu, M., & Otchere, O. A. S. (2022). Improvements or deteriorations? A bibliometric analysis of corporate governance and disclosure research (1990–2020). Journal of Business and Socio-economic Development.
Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of management review, 14(1), 57-74.
Erena, O.T., Kalko, M.M. and Debele, S.A. (2022), "Corporate governance mechanisms and firm performance: empirical evidence from medium and large-scale manufacturing firms in Ethiopia", Corporate Governance, 22 (2), 213-242.
Estélyiová, K. (2012). The governance structure of strategic alliances-evidences from the south Moravian region. Journal of Competitiveness, 4 (2).
Etemad, H. (2004). Internationalization of small and medium‐sized enterprises: a grounded theoretical framework and an overview. Canadian Journal of Administrative Sciences/Revue Canadienne des Sciences de l'Administration, 21(1), 1-21.
Faems, D., Janssens, M., Madhok, A., and Looy, B. V. (2008). Toward an integrative perspective on alliance governance: Connecting contract design, trust dynamics, and contract application. Academy of Management Journal, 51(6), 1053-1078.
Farooq, M., Noor, A. and Ali, S. (2022), "Corporate governance and firm performance: empirical evidence from Pakistan", Corporate Governance, 22(1), 42-66.
Freeman, S., Edwards, R., and Schroder, B. (2006). How smaller born-global firms use networks and alliances to overcome constraints to rapid internationalization. Journal of International Marketing, 14(3), 33-63.
Guidice, R. M., and Mero, N. P. (2007). Governing joint ventures: tension among principals’ dominant logic on human motivation and behavior. Journal of Management and Governance, 11(3), 261-283.
Hambrick, D. C., Li, J., Xin, K., and Tsui, A. S. (2001). Compositional gaps and downward spirals in international joint venture management groups. Strategic Management Journal, 22(11), 1033-1053.
Hazami-Ammar, S. and Gafsi, A. (2021), "Governance failure and its impact on financial distress", Corporate Governance, 21(7), 1416-1439.
Hsieh, L. H., and Rodrigues, S. B. (2014). Revisiting the trustworthiness–performance–governance nexus in international joint ventures. Management International Review, 54(5), 675-705.
Ibrahim, H., and Samad, F. A. (2011). Corporate governance mechanisms and performance of public-listed family-ownership in Malaysia. International Journal of Economics and Finance, 3(1), 105-115.
Issa, A., Yousef, H., Bakry, A., Hanaysha, J.R. and Sahyouni, A. (2021), "Does the board diversity impact bank performance in the MENA countries? A multilevel study", Corporate Governance, 21 (5), 865-891.
Jesuka, D., & Peixoto, F. M. (2021). Corporate governance and firm performance: does sovereign rating matter. Corporate Governance: The International Journal of Business in Society, 22(2), 243-256.
Keil, T., Maula, M., Schildt, H., and Zahra, S. A. (2008). the effect of governance modes and relatedness of external business development activities on innovative performance. Strategic Management Journal, 29(8), 895-907.
Klijn, E., Reuer, J. J., Volberda, H. W., and Van Den Bosch, F. A. (2017). Ex-post governance in joint ventures: Determinants of monitoring by JV boards of directors. Long Range Planning.
Koutoupis, A., Kyriakogkonas, P., Pazarskis, M. and Davidopoulos, L. (2021), "Corporate governance and COVID-19: a literature review", Corporate Governance, 21(6), 969-982.
Kreutzer, M ., Cardinal, L. B., Walter, J., Lechner. C. (2016) Formal and Informal Control as Complement or Substitute? the Role of the Task Environment. Strategy Science 1(4):235-255.
Krishnan, R., Geyskens, I., and Steenkamp, J. B. E. (2016). the effectiveness of contractual and trust‐based governance in strategic alliances under behavioral and environmental uncertainty. Strategic Management Journal, 37(12), 2521-2542.
Kujala, J., Nystén-Haarala, S. and Nuottila, J. (2015), "Flexible contracting in project business", International Journal of Managing Projects in Business, Vol. 8 No. 1, pp. 92-106.
Kumar, S., and Seth, A. (1998). the design of coordination and control mechanisms for managing joint venture–parent relationships. Strategic Management Journal, 19(6), 579-599.
Lai, J.-H., and Chen, L.-Y. (2014). the valuation effect of corporate governance on stakeholder wealth: Evidence from strategic alliances. International Review of Economics and Finance, 32, 117-131.
Leyva-Townsend, P., Rodriguez, W., Idrovo, S. and Pulga, F. (2021), "Female board participation and firm’s financial performance: a panel study from a Latin American economy", Corporate Governance, 21(5), 920-938.
Lojacono, G., Misani, N., and Tallman, S. (2017). Offshoring, local market entry, and the strategic context of cross-border alliances: the impact on the governance mode. International Business Review, 26(3), 435-447.
Lopez-Perez, M. V., and Rodriguez-Ariza, L. (2013). Ownership and trust in the governance structures of Spanish-Moroccan SMEs constituted as international joint ventures. Central European Journal of Operations Research, 21(3), 609-624.
Lorange, P , Roos, J . (1993.) Strategic Alliances, John Wiley and Sons.
Luo, Y. (2002). Contract, cooperation, and performance in international joint ventures. Strategic Management Journal, 23(10), 903-919.
Marie L’Huillier, B. (2014), "What does “corporate governance” actually mean?", Corporate Governance, Vol. 14 No. 3, pp. 300-319.
Miller, R., Glen, J., Jaspersen, F., and Karmakolias, Y. (1997). International Joint Ventures in Developing Countries. Finance and Development, 26-29.
Mjoen, H., & Tallman, S. (1997). Control and performance in international joint ventures. Organization Science, 8(3), 257-274.
Musteen, M., Datta, D. K., and Herrmann, P. (2009). Ownership structure and CEO compensation: implications for the choice of foreign market entry modes. Journal of international business studies, 40(2), 321-338.
Naciti, V., Cesaroni, F., & Pulejo, L. (2022). Corporate governance and sustainability: A review of the existing literature. Journal of Management and Governance, 26(1), 55-74.
Nippa, M. and Beechler, S. (2013), "What Do We Know about the Success and Failure of International Joint Ventures? In Search of Relevance and Holism", Devinney, T.M., Pedersen, T. and Tihanyi, L. (Ed.) Philosophy of Science and Meta-Knowledge in International Business and Management, Emerald Group Publishing Limited, Bingley, 26, 363-396.
Nippa, M., Beechler, S., & Klossek, A. (2007). Success Factors for Managing International Joint Ventures: A Review and an Integrative Framework. Management and Organization Review, 3(2), 277-310.
Nippa, M., Reuer, J.J. on the future of international joint venture research. (2019). J Int Bus Stud 50, 555–597.
Olie, R., Klijn, E., and Leenders, H. (2020). United or Divided? Antecedents of Board Cohesiveness in International Joint Ventures. In Academy of Management Proceedings.
Pandey, N., Andres, C., & Kumar, S. (2022). Mapping the corporate governance scholarship: Current state and future directions. Corporate Governance: An International Review.
Park, S. H., and Ungson, G. R. (2001). Interfirm rivalry and managerial complexity: A conceptual framework of alliance failure. organization Science, 12(1), 37-53.
Pedada, K., Padigar, M., Sinha, A., and Dass, M. (2021). Developed market partner’s relative control and the termination likelihood of an international joint venture in an emerging market, Journal of Business Research, 135, 295 - 303
Piaskowska, D., Nadolska, A., and Barkema, H. G. (2017). Embracing complexity: Learning from minority, 50-50, and majority joint venture experience. Long Range Planning.
Reuer, J. J., Klijn, E., van den Bosch, F. A., and Volberda, H. W. (2011). Bringing corporate governance to international joint ventures. Global Strategy Journal, 1(1‐2), 54-66.
Rodríguez-López, N., & Diz-Comesaña, M. E. (2016). the mediated effect of formal and informal control on governance forms. RAE - Revista de Administração de Empresas, 56(6).
Sadegh, M. H., Parchami Sarghein, M., and Shahhosseini. M. A. (2020). Determining the corporate governance mechanisms in international joint ventures and recognizing the effective factors. Journal of Business Management Perspective, 43(76), 13-39. (In Persian)
Schaan, J. (1983). Parent Control and Joint Venture Success: The Case of Mexico.
Sestu, M. C., and Majocchi, A. (2020). Family firms and the choice between wholly owned subsidiaries and joint ventures: A transaction costs perspective. Entrepreneurship Theory and Practice, 44(2), 211-232.
Singh, K. and Pillai, D. (2022), "Corporate governance in small and medium enterprises: a review", Corporate Governance, 22(1), 23-41.
Sivaprasad, S. and Mathew, S. (2021), "Corporate governance practices and the pandemic crisis: UK evidence", Corporate Governance, 21(6), 983-995.
SWFI: 4,293 Asset Manager Profiles by Region. [on-line]. https://www.swfinstitute.org/profiles/asset-manager (2021b).
SWFI: List of 23 Joint Venture Profiles by Region. [on-line] https://www.swfinstitute.org/profiles/joint-venture (2021a).
Tong, T. W., and Li, S. (2013). the assignment of call option rights between partners in international joint ventures. Strategic Management Journal, 34(10), 1232-1243.
Tran, H.T. (2021), "the link between independent directors and firm’s performance: the moderating role of corporate social responsibility", Corporate Governance, 21(5), 831-844.
Whipple, J. M., and Frankel, R. (2000). Strategic Alliance Success Factors. the Journal of Supply Chain Management. | ||
|
آمار تعداد مشاهده مقاله: 403 تعداد دریافت فایل اصل مقاله: 365 |
||