Unlike free-standing companies, joint ventures involve more complex governance structures and organizational systems. Because of interpartner dependence in the managerial process, it is more difficult for joint ventures to configure their strategies with environmental dynamics. Without such...

We lay out an empirical and a theoretical model to analyze the effects of non-fundamental exchange rate volatility on economic activity and welfare. In the first part of the paper, the GARCH-SVARmodel is applied to measure empirically the effect of the conditional exogenous exchange rate...