The question of an optimal licensing contract in a leadership structure is studied when the patent holder is a non-producer and has three alternative licensing strategies, namely fixed fee, royalty and auction. Assuming once-for-all licensing contracts we show that royalty dominates other modes...

Operational success of a venture firm essentially depends on the cultural compatibility of the partners. This paper draws attention to the country specific cultural characteristics and partner asymmetry as being the fundamental cause of joint venture instability and break down. Given that one...

We provide a comparative welfare analysis of domestic and cross-national mergers. We focus, in particular, on the importance of possible synergies in mergers, the existing market structure and the bargaining power of the merging firms (in the case of a cross-border merger).

In a set-up of two local firms and one foreign firm, we construct a model to capture the dynamics of local industrial structure induced by formation and breakdown of cross-border joint ventures (JVs). There is a synergic gain to the JV, and the partners learn from each other. Firms play a...