Publication Type

Book Chapter

Publication Date

1-2007

Abstract

We provide a comprehensive synthesis and extension of the real option (RO) literature on joint ventures (JVs), contributing in three main areas. First, we examine major alternative theoretical perspectives on JVs - learning, bargaining, transaction cost and agency theory - to elaborate how they complement or contradict RO predictions. Second, we compare arguments and variables used to explain different JV stages - initial RO explicitness and equity shares, JV stability, and performance consequences - and highlight research opportunities. Third, we discuss and extend research about behavioral aspects of making RO (JV) investments. Overall, we offer new predictions and suggestions for a better integration within the RO literature, and between RO and related literatures on JVs.

Discipline

Business | Strategic Management Policy

Research Areas

Strategy and Organisation

Publication

Real Options Theory

Volume

24

First Page

103

Last Page

144

ISBN

9780762314270

Identifier

10.1016/s0742-3322(07)24004-5

Publisher

Emerald

City or Country

Bingley

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Additional URL

http://doi.org/10.1016/s0742-3322(07)24004-5

Share

COinS