Скачать или смотреть IJV announcements and shareholder value creation: do industrial diversification, relatedness matter?

𝐈𝐉𝐕 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐚𝐧𝐝 𝐬𝐡𝐚𝐫𝐞𝐡𝐨𝐥𝐝𝐞𝐫 𝐯𝐚𝐥𝐮𝐞 𝐜𝐫𝐞𝐚𝐭𝐢𝐨𝐧: 𝐃𝐨 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐝𝐢𝐯𝐞𝐫𝐬𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐫𝐞𝐥𝐚𝐭𝐞𝐝𝐧𝐞𝐬𝐬 𝐦𝐚𝐭𝐭𝐞𝐫?
Kin-Yip Ho; Zhaoyong Zhang; Lanyue Zhou

This study investigates how industrial diversification and partner business relatedness shape shareholder value by examining US multinationals’ worldwide joint venture announcements, with emphasis on East Asia. Using standard event-study methods and multiple statistical tests, the analysis measures abnormal returns over a −10 to +10 window to capture information leakage and delayed market reactions. Results show a clear diversification premium: international joint ventures generate positive shareholder value, and partnering with firms in unrelated industries further enhances gains. The study highlights IJVs as an effective entry mode for non-core expansion and offers new evidence on how diversification and partner fit jointly create value.

Full link: https://www.emerald.com/jabes/article...
**************************************
Subscribe JABES Channel: http://shorturl.at/jnoOR
Facebook JABES-E:   / jabes.ueh.edu.vn  
Facebook JABES-V:   / jabesv.ueh  
LinkedIn:   / jabes-ueh  
X(Twitter):   / jabes_ueh  
Website: http://www.jabes.ueh.edu.vn/
Publisher: https://www.emeraldgrouppublishing.co...
Điện thoại: (028) 38295635
Địa chỉ Tòa soạn: Phòng A.206 - Trường Đại học Kinh tế TP. Hồ Chí Minh, 59C Nguyễn Đình Chiểu, Phường Võ Thị Sáu, Quận 3, TP. Hồ Chí Minh

***
© Bản quyền thuộc về JABES Channel
© Copyright by JABES Channel
☞ Do not re-upload