Alliances internationales, accumulation d'expérience et création de valeur pour les actionnaires:le cas des coentreprises sino-françaises

This article deals with the valuation effect of Sino-French joint ventures, and more precisely with the impact of certain organizational resources proper to French partners. An analysis of abnormal returns was carried out in a sample of Sino-French joint ventures announcements. A significant and negative cumulated impact was highlighted over an event window of 7 days. Moreover, multi-variate regression analyses showed that French companies engaged in China were valuated positively as they possessed an important international and managerial experience.