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Antecedents And Consequences Of Share Distribution In Equity Joint Ventures: A Pricing-Error Approach And Empirical Evidence, Liang Liang Wang

Electronic Thesis and Dissertation Repository

Equity joint ventures (EJVs) have been a widely used and extensively studied governance structure for inter-firm cooperation. To date, the literature has largely overlooked share distribution between EJV partners although it is critical to the organization and operation of EJVs. Only recently has a pricing-error rule of share distribution been proposed; it argues that partners should align the equity split with the relative size of the error committed in pricing assets into the EJV. As the first conceptual guideline on share distribution in EJVs, this rule has yet to be empirically verified. Furthermore, no study has sought to identify and …