This paper investigates the determinants of the observed contracted equity share ownership structure in international joint ventures (IJVs). We propose that the inherent intangibility of the assets that partner's contribute to the IJV, and both formal (legal) and informal (cultural)...

This paper develops and tests hypotheses linking cultural distant to the ownership distribution of equity capital across the partners in international joint ventures (IJVs). The paper's underpinnings are linked to the role of equity shares in providing performance guarantees in joint ventures...