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- catalog abstract "The paper examines the role of joint venture as a transitory organization that can be used as a tool for corporate restructuring. A simple model is used to explore the conditions under which it is efficient for the owner of a business to transform the business into a joint venture with a partner who has access to non-marketable complementary resources. The model demonstrates that joint venturing is a (costly) mechanism that signals the unobservable quality of a business to a potential purchaser of the business. The following conclusions emerge: such a joint venture is essentially a transitory organizational form; joint venturing is more effective as a signal of business quality if the joint venture administrative cost is moderately high, rather than low; and joint venturing is more effective as a mechanism for signalling business quality if a large proportion of existing businesses are of low quality. Extensions of the basic model show that joint venturing is more often the preferred route for organizational restructuring in case the business owner has less bargaining power, or in case the business owner takes a larger share in the ownership of the venture, or in case the cost of integrating the complementary resource and the business is low. If the complementary resource can increase the profitability of the low quality business much more than it increases the profitability of the high quality business, then joint venturing is used to signal low quality.".
- catalog contributor b8416920.
- catalog contributor b8416921.
- catalog created "1994.".
- catalog date "1994".
- catalog date "1994.".
- catalog dateCopyrighted "1994.".
- catalog description "Includes bibliographical references (p. 36-38).".
- catalog description "The paper examines the role of joint venture as a transitory organization that can be used as a tool for corporate restructuring. A simple model is used to explore the conditions under which it is efficient for the owner of a business to transform the business into a joint venture with a partner who has access to non-marketable complementary resources. The model demonstrates that joint venturing is a (costly) mechanism that signals the unobservable quality of a business to a potential purchaser of the business. The following conclusions emerge: such a joint venture is essentially a transitory organizational form; joint venturing is more effective as a signal of business quality if the joint venture administrative cost is moderately high, rather than low; and joint venturing is more effective as a mechanism for signalling business quality if a large proportion of existing businesses are of low quality. Extensions of the basic model show that joint venturing is more often the preferred route for organizational restructuring in case the business owner has less bargaining power, or in case the business owner takes a larger share in the ownership of the venture, or in case the cost of integrating the complementary resource and the business is low. If the complementary resource can increase the profitability of the low quality business much more than it increases the profitability of the high quality business, then joint venturing is used to signal low quality.".
- catalog extent "38 p. :".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; HBS 94-062.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 94-062".
- catalog issued "1994".
- catalog issued "1994.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog subject "Corporate reorganizations.".
- catalog subject "Information measurement.".
- catalog subject "Joint ventures Econometric models.".
- catalog title "Joint venturing as a signalling mechanism / by Ashish Nanda and Peter J. Williamson.".
- catalog type "text".