Expropriation of intellectual capital : evidence from joint ventures /
This study examines the potential for expropriation of a firm's intellectual capital that is exposed when it enters a joint venture agreement. My findings include the following: (1) firms whose partner in a joint venture is the target of a takeover (i.e., the non-targeted partner) often suffe...
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| Format: | Thesis Book |
| Language: | English |
| Published: |
[Place of publication not identified] :
[publisher not identified] ;
2002.
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| Subjects: | |
| Online Access: | http://proxy.library.tamu.edu/login?url=http://proquest.umi.com/pqdweb?did=764709031&sid=1&Fmt=2&clientId=2945&RQT=309&VName=PQD |
| Summary: | This study examines the potential for expropriation of a firm's intellectual capital that is exposed when it enters a joint venture agreement. My findings include the following: (1) firms whose partner in a joint venture is the target of a takeover (i.e., the non-targeted partner) often suffer a loss in value; (2) the magnitude of the loss increases with the R&D intensity of the non-targeted joint venture partner; and (3) the losses sustained by acquirers are reduced when they share a common business with the joint venture partners and the non-targeted partner is R&D intensive. I conclude that joint ventures appear to act as a conduit through which a partnering firm's intellectual capital can be lost or expropriated. |
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| Item Description: | Vita. "Major Subject: Finance". |
| Physical Description: | ix, 82 leaves : illustrations ; 28 cm. Issued also on microfiche from University Microfilm Inc. |
| Bibliography: | Includes bibliographical references (leaves 79-81). |