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Transaction cost theory posits that culture plays a limited role in the choice between JV and WOS. In contrast … Japan. The results suggest that the transaction cost explanation for the ownership choice holds in the both national …
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This study analyzes how market barriers and firm capabilities affect multinationals' choice of joint ventures versus wholly-owned subsidiaries abroad. In the study, we compile a vector of variables that distinguish between industry-specific barriers and firm-specific capabilities to analyze...
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