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Joint Ventures (joint + venture)
Kinds of Joint Ventures Selected AbstractsTHE ECONOMIC EFFECTS OF THE MARATHON-ASHLAND JOINT VENTURE: THE IMPORTANCE OF INDUSTRY SUPPLY SHOCKS AND VERTICAL MARKET STRUCTURE,THE JOURNAL OF INDUSTRIAL ECONOMICS, Issue 3 2007CHRISTOPHER T. TAYLOR This study measures the effects of the Marathon/Ashland Petroleum (MAP) joint venture on rack and retail reformulated (RFG) gasoline prices in the four cities where both firms sold RFG before the joint venture. MAP was an early transaction in the recent era of petroleum mergers and resulted in large regional increases in concentration. While wholesale (rack) prices increased in the two cities experiencing the largest change in market structure in the year following the transaction, retail prices did not increase. Our results also highlight the importance of identifying the marginal source of supply in correctly identifying merger effects. [source] ENDOGENOUS FORMATION OF COMPETITIVE RESEARCH SHARING JOINT VENTURES,THE JOURNAL OF INDUSTRIAL ECONOMICS, Issue 3 2005Patrick Greenlee Research sharing is an important objective of many research joint ventures. When partners share R&D but do not maximize joint profits, large consortia are more profitable than small ones, and joint ventures prefer dispersed rivals. For much of the spillover space, a coalition formation game that permits limited membership predicts that at most, three joint ventures form. Research-sharing joint ventures improve welfare when spillovers are low, and banning research sharing joint ventures is beneficial for high spillovers. With imperfect research sharing and low spillovers, allowing only research sharing is the best industry-wide joint venture alternative for consumer surplus. [source] Tapovan-Vishnugad hydroelectric power project , experience with TBM excavation under high rock cover / . Tapovan-Vishnugad Wasserkraftwerk , Erfahrungen mit TBM-Vortrieb bei hoher ÜberlagerungGEOMECHANICS AND TUNNELLING, Issue 5 2010Johann Brandl Mechanised tunnelling - Maschineller Vortrieb; Hydro power plants - Wasserkraftanlagen Abstract NTPC Ltd. of India is presently constructing the 520 MW (4 x 30 MW) Tapovan-Vishnugad hydroelectric power plant in Uttarakhand in the Himalayas. As part of this project, an approximately 12.1 km head race tunnel (HRT) is to be constructed, of which approximately 8.6 km are being excavated by DS-TBM with an excavation diameter of 6.575 m. Construction of this HRT has been awarded to a Joint Venture (JV) of Larsen, Toubro Ltd., India, and Alpine, Austria. Geoconsult ZT GmbH is acting as a Consultant to NTPC Ltd. for the TBM part of the HRT. The overburden above the tunnel is up to 1, 100 m with the result that knowledge of the geology along the HRT alignment could only be based on projections made from surface exposures available in the area. Basically, the ground consists of jointed quartzite, gneiss and schist. Excavation of the HRT started in October 2008 and excavation rates of over 500 m per month were achieved in November 2009. However, in December 2009 the TBM encountered a fault zone along with high-pressure water inflow and became trapped. This paper outlines the present status of HRT construction and describes in particular the difficulties encountered during TBM excavation in fault zones with large high-pressure water inflows and how these problems are being dealt with. Die indische Firma NTPC Ltd. errichtet derzeit das 520 MW (4 x 130 MW) Tapovan-Vishnugad Wasserkraftwerk in Uttarakhand, Himalaya. Als Teil dieses Projekts wird ein ungefähr 12,1 km langer Triebwasserstollen (TWS) errichtet, wobei rund 8,6 km davon mittels einer DS-TBM mit einem Ausbruchdurchmesser von 6.575 m aufgefahren werden. Der Bau dieses Triebwasserstollens wurde an die Arbeitsgemeinschaft Larsen, Toubro Ltd., Indien, und Alpine, Österreich vergeben. Geoconsult ZT GmbH fungiert als Berater von NTPC Ltd. für den TBM-Teil des TWS. Aufgrund der Überlagerung des Tunnels von bis zu 1,100 m konnte die Geologie entlang des Triebwasserstollens nur durch Projektion von vorhandenen Oberflächenaufschlüssen aus der Umgebung bestimmt werden. Das Gebirge besteht hauptsächlich aus geklüftetem Quarzit, Gneis und Schiefer. Der Ausbruch des TWS begann im Oktober 2008. Im November 2009 wurde eine Vortriebsgeschwindigkeit von über 500 m pro Monat erreicht. Im Dezember 2009 jedoch fuhr die TBM eine Störzone mit einem Hochdruckwassereinbruch an, wodurch die TBM stecken blieb. Dieser Artikel skizziert den derzeitigen Stand des TWS und legt besonderes Augenmerk auf die Schwierigkeiten beim Auffahren der Störzone inklusive Hochdruckwassereinbruch mit einer TBM. Darüber hinaus wird gezeigt, wie sich die auftretenden Probleme lösen lassen. [source] Use of Restored Small Wetlands by Breeding Waterfowl in Prince Edward Island, CanadaRESTORATION ECOLOGY, Issue 1 2003C. E. Stevens Abstract Since 1990 under the Eastern Habitat Joint Venture over 100 small wetlands have been restored in Prince Edward Island, Canada. Wetlands were restored by means of dredging accumulated sediment from erosion to emulate pre-disturbance conditions (i.e., open water and extended hydroperiod). In 1998 and 1999 we compared waterfowl pair and brood use on 22 restored and 24 reference wetlands. More pairs and broods of Ring-necked Ducks, Gadwall, Green-winged Teal, and American Black Ducks used restored versus reference wetlands. In restored wetlands waterfowl pair density and species richness were positively correlated with wetland/cattail area, percent cattail cover, and close proximity to freshwater rivers. In addition, a waterfowl reproductive index was positively correlated with percent cattail cover. Green-winged Teal pair occurrence in restored wetlands was positively correlated with greater amounts of open water and water depths. American Black Duck pairs occurred on most (86%) restored wetlands. Restored small wetlands likely served as stopover points for American Black Duck broods during overland or stream movements, whereas they likely served as a final brood-rearing destination for Green-winged Teal broods. We suggest that wetland restoration is a good management tool for increasing populations of Green-winged Teal and American Black Ducks in Prince Edward Island. [source] Planung für das Schiffshebewerk am Drei-Schluchten-Staudamm in ChinaBAUTECHNIK, Issue 2 2006Geschäftsführende Gesellschafterin Dorothea Krebs Dipl.-Ing. Zur Beförderung von Passagierschiffen am Drei-Schluchten-Staudamm am Yangtze ist in der Nähe der Stadt Yichang ein Senkrecht-Schiffshebewerk nach dem Gegengewichtsprinzip vorgesehen, das derzeit durch die China Yangtze Three Gorges Project Corporation, Bauherr und Betreiber des Drei-Schluchten-Staudamms, geplant wird. Mit der Ausschreibungsplanung ist die "German Design Group", ein deutsches Joint Venture, bestehend aus Krebs und Kiefer International und Lahmeyer International, beauftragt. Berater des Bauherrn im Sinne eines "Panel of Experts" ist die Bundesanstalt für Wasserbau. Design of the ship lift at the Three Gorges Dam in China. A vertical ship lift based on the counterweight principle is to be built to allow passenger ships passing the Three Gorges Dam at the Yangtze River near Yichang. This project is realized by the China Yangtze Three Gorges Project Corporation, building and operating company of the Three Gorges Dam. The German joint venture, "German Design Group", incorporating the two companies Krebs und Kiefer International and Lahmeyer International has been entrusted with the general layout, intermediate and final design. As part of the "Panel of Experts" the German Bundesanstalt für Wasserbau (Federal Waterways Engineering and Research Institute) provides consulting support to the building company. [source] Accounting for Joint Ventures and Associates in Canada, UK, and US: Do US Rules Hide Information?JOURNAL OF BUSINESS FINANCE & ACCOUNTING, Issue 3-4 2006Kazbi Soonawalla Abstract: Unlike US GAAP, accounting principles in Canada and the UK require disclosure of disaggregated components of joint ventures and associates. Using comparative analysis of Canadian, UK and US data, this study investigates the potential loss of forecasting and valuation relevant information from aggregating joint venture and associate accounting amounts. Findings show that aggregating joint venture and associate investment numbers, and aggregating joint venture revenues and expenses, each leads to loss of forecasting and valuation relevant information. Thus, current US accounting principles likely mask information that financial statement users could use to predict future earnings and explain share prices. [source] Post-Formation Processes in Eastern and Western European Joint Ventures*JOURNAL OF MANAGEMENT STUDIES, Issue 2 2006Keith D. Brouthers abstract This study examines the post-formation processes that firms use to create successful international joint ventures (IJVs). Scholars have suggested that IJV performance is dependent on the post-formation processes firms institute to overcome barriers to success created by differences in national culture, trust, ownership positions and control mechanisms. Based on a longitudinal study of eight eastern/western European IJVs, our study provides insights into these post-formation processes, how these processes relate to each other, and how they relate to managers' evaluations of IJV success. [source] Predicting the Performance of International Joint Ventures: An Investigation in China*JOURNAL OF MANAGEMENT STUDIES, Issue 2 2003John Child ABSTRACT Organizational learning, resourcing and control have been identified in the literature as potential firm-level influences on the performance of international joint ventures (IJVs). The study reported here examines the impact of these factors on the performance of Sino-foreign IJVs. Their performance is assessed in terms of both ,goal' and ,system' criteria. The hypothesized performance determinants are found to be more strongly associated with variance in system performance than in goal performance. The main performance predictors are the parent companies' experience with international business and joint ventures, and the quality of resources they provide to the joint ventures in respect of capital investment, new facilities and operational inputs. When good quality resourcing is provided, the sharing of control with local partners also predicts higher IJV performance. The performance effects of these factors appears to be cumulative, implying that further research should examine them together rather than singularly. [source] Controlling International Joint Ventures: An Investigation of Australian Parent PartnersAUSTRALIAN ACCOUNTING REVIEW, Issue 2 2009Francesco Giacobbe International joint ventures (IJVs) are an important modern organisational form, with their complexity presenting significant management and control issues. Our research uses a cross-sectional survey of Australian parent partners of IJVs to provide insights into the characteristics of Australian companies and their IJVs, performance outcomes and choices of parent partners management control systems (MCS) design in terms of operational areas they seek to control (focus), the extent to which they exercise control (extent) and the mechanisms of control used (formal and informal). Australian parent partners of IJVs generally are, partnering in countries close to Australia in the Asia-Pacific, in activities similar to those they undertake in Australia, contributing a significant amount of resources, but overall have only limited IJV experience. Australian parent partners focus on a limited set of controls, often with tighter formalised control structures. Finally, overall they are satisfied with the performance of their IJVs, with higher satisfaction for organisational learning and product/customer dimensions than financial performance. [source] Decision-making Autonomy in UK International Equity Joint VenturesBRITISH JOURNAL OF MANAGEMENT, Issue 4 2003Keith W. Glaister This paper investigates approaches to decision making in international joint ventures (IJVs) from the perspectives of the transactions cost and resource-based theories of the firm. In particular, the concept of autonomy in decision-making in a sample of UK-European equity joint ventures is examined. The study adopts a multi-method personal interview and self-administered questionnaire approach to examine managerial perceptions of decision-making and autonomy in the parent firms and the joint venture. The findings show that there are differences in the perception of autonomy between each of the parent firms, and between the parent firms and the IJV management. When we unpack the nature of autonomy in detail, it is found that IJV managers have greater degrees of operational autonomy than strategic autonomy and that decision making by IJV managers takes place within the context of constraints set within the IJV's business plan. This confirms the transaction cost theory which posits that key internal markets (for management, technology and capital) will be under parent control and also supports the resource based view that key capabilities are protected under the business plan established by the parent firms. The influence on IJV autonomy of the moderating variables IJV performance and IJV duration are also examined. [source] An Analysis of Strategic Determinants, Learning and Decision-Making in Sino-British Joint VenturesBRITISH JOURNAL OF MANAGEMENT, Issue 2 2002Yanni Yan This paper examines how partners' strategic objectives, inputs and competencies affect the learning they achieve in joint ventures and their ability to influence decision-making in such ventures. Quantitative and qualitative research in 20 Sino-British joint ventures permits an investigation of these factors for both British and Chinese joint venture partners. Findings indicate that the transfer by British partners of technology and managerial expertise to joint ventures enhances their ability to achieve their strategic objectives by influencing decisions in such ventures. The learning achieved by British partners depends on their commitment of strategic inputs to joint ventures and is therefore associated with their influence. The case of Chinese partners is different, because they look to learn from the knowledge and resource inputs provided by the British partners. They therefore rely more on legal ownership rights to retain an influence over joint venture decision-making. The achievement of Chinese partners' strategic objectives depends more critically on the quality of the partnership itself. [source] Revisiting Shareholder Value Creation via International Joint Ventures: Examining Interactions Among Firm- and Context-Specific VariablesCANADIAN JOURNAL OF ADMINISTRATIVE SCIENCES, Issue 2 2004Hemant Merchant This study attempts to empirically reconcile the prevalent mixed findings regarding reactions of capital markets to announcements of American firms' participation in international joint ventures (IJVs). It does so by first admitting salient contextual variables into the portfolio of firm-specific variables,heretofore mostly considered in isolation,and then modeling their collective impact on these parents' shareholder value. A cluster analysis of more than 700 equity IJVs yields findings that highlight important interactions between the two sets of variables, which better inform creation and destruction of shareholder value for IJV parents. These findings facilitate development of a conceptual framework for assessing how parents can exploit the inter-connectedness between their firm-specific and contextual domains. Thus, this study lays a foundation for generating more refined predictions about shareholder value creation via IJVs. Résumé La présente étude essaie de concilier, de façon empirique, les conclusions contradictoires, révélées par l'étude des réactions des marchés de capitaux aux annonces par les firmes américaines de leur participation aux coentreprises internationales. Elle y parvient en deux temps: premièrement, par la reconnaissance des variables contextuelles fondamentales, jusque-là surtout considérées de façon isolée, dans le portfolio des variables spécifiques aux firmes; deuxièmement, par la modélisation de leur impact collectif sur la création des valeurs pour les actionnaires des firmes impliquées dans ces coentreprises. Les conclusions tirées de l'analyse par segments de plus de 700 coentreprises boursières internationales mettent en évidence d'importantes interactions (entre les deux groupes de variables) dans la création et la destruction des valeurs pour les actionnaires des coentreprises internationales. De façon incidente, les conclusions de l'étude tracent les contours d'un cadre conceptuel permettant de montrer comment les partenaires peuvent exploiter l'interrelation entre leurs secteurs spécifiques et les domaines contextuels. En somme, l'étude jette les bases d'une meilleure capacité de prédiction dans la création des valeurs par les actionnaires, via les coentreprises internationales. [source] Evaluation of a Pediatric-sedation Service for Common Diagnostic ProceduresACADEMIC EMERGENCY MEDICINE, Issue 6 2006Wendalyn K. King MD Abstract Background: Pediatric patients often require sedation for diagnostic procedures such as magnetic resonance imaging and computed tomography scanning. In October 2002, a dedicated sedation service was started at a tertiary care pediatric facility as a joint venture between pediatric emergency medicine and pediatric critical care medicine. Before this service, sedation was provided by the department of radiology by using a standard protocol, with high-risk patients and failed sedations referred for general anesthesia. Objectives: To describe the initial experience with a dedicated pediatric-sedation service. Methods: This was a retrospective analysis of quality-assurance data collected on all sedations in the radiology department for 23-month periods before and after sedation-service implementation. Study variables were number and reasons for canceled or incomplete procedures, rates of referral for general anesthesia, rates of hypoxia, prolonged sedation, need for assisted ventilation, apnea, emesis, and paradoxical reaction to medication. Results are reported in odds ratios (OR) with 95% confidence intervals (95% CI). Results: Data from 5,444 sedations were analyzed; 2,148 before and 3,296 after sedation-service activation. Incomplete studies secondary to inadequate sedation decreased, from 2.7% before the service was created to 0.8% in the post,sedation-service period (OR, 0.29; 95% CI = 0.18 to 0.47). There also were decreases in cancellations caused by patient illness (3.8% vs. 0.6%; OR, 0.16; 95% CI = 0.10 to 0.27) and rates of hypoxia (8.8% vs. 4.6%; OR, 0.50; 95% CI = 0.40 to 0.63). There were no significant differences between the groups in rates of apnea, need for assisted ventilation, emesis, or prolonged sedation. The implementation of the sedation service also was associated with a decrease in both the number of patients referred to general anesthesia without a trial of sedation (from 2.1% to 0.1%; OR, 0.33; 95% CI = 0.06 to 1.46) and the total number of general anesthesia cases in the radiology department (from 7.5% to 4.4% of all patients requiring either sedation or anesthesia; OR, 0.56; 95% CI = 0.45 to 0.71). Conclusions: The implementation of a dedicated pediatric-sedation service resulted in fewer incomplete studies related to inadequate sedation, in fewer canceled studies secondary to patient illness, in fewer referrals for general anesthesia, and in fewer recorded instances of sedation-associated hypoxia. These findings have important implications in terms of patient safety and resource utilization. [source] The Strategic Localization of Transnational Retailers: The Case of Samsung-Tesco in South KoreaECONOMIC GEOGRAPHY, Issue 1 2006Neil M. Coe Abstract: This article contributes to the small but growing geographic literature on the internationalization of retailing by exploring the strategic localization of transnational retailers. While it has long been recognized that firms in many different sectors localize their activities to meet the requirements of different national and local markets, the imperative is particularly strong for retail transnational corporations (TNCs) because of the extremely high territorial embeddedness of their activities. This embeddedness can be seen through the ways in which retailers seek to establish and maintain extensive store networks, adapt their offerings to various cultures of consumption, and manage the proliferation of connections to the local supply base. We illustrate these conceptual arguments through a case study of the Samsung-Tesco joint venture in South Korea, profiling three particular aspects of Samsung-Tesco's strategic localization: the localization of products, the localization of sourcing, and the localization of staffing and strategic decision making. In conclusion, we argue that the strategic localization of transnational retailers needs to be conceptualized as a dynamic that evolves over time after initial inward investment and that localization should be seen as a two-way dynamic that has the potential to have a wider impact on the parent corporation. [source] Debt v. Foreign Direct Investment: The Impact of Sovereign Risk on the Structure of International Capital FlowsECONOMICA, Issue 273 2002Monika Schnitzer The paper compares the two standard forms of international investment in developing countries, debt and foreign direct investment (FDI), from a finance perspective. The sovereign risks associated with debt finance are shown to be generally less severe than the ones that come with FDI. FDI is chosen only if the foreign investor is more efficient in running the project, if the project is risky, and if the foreign investor has a good outside option which deters creeping expropriation. The sovereign risk problem of FDI can be alleviated if the host country and the foreign investor form a joint venture. [source] Development of human plasmacytoid dendritic cells depends on the combined action of the basic helix-loop-helix factor E2-2 and the Ets factor Spi-B,EUROPEAN JOURNAL OF IMMUNOLOGY, Issue 9 2008Maho Nagasawa Abstract Plasmacytoid dendritic cells (pDC) are central players in the innate and adaptive immune response against viral infections. The molecular mechanism that underlies pDC development from progenitor cells is only beginning to be elucidated. Previously, we reported that the Ets factor Spi-B and the inhibitors of DNA binding protein 2 (Id2) or Id3, which antagonize E-protein activity, are crucially involved in promoting or impairing pDC development, respectively. Here we show that the basic helix-loop-helix protein E2-2 is predominantly expressed in pDC, but not in their progenitor cells or conventional DC. Forced expression of E2-2 in progenitor cells stimulated pDC development. Conversely, inhibition of E2-2 expression by RNA interference impaired the generation of pDC suggesting a key role of E2-2 in development of these cells. Notably, Spi-B was unable to overcome the Id2 enforced block in pDC development and moreover Spi-B transduced pDC expressed reduced Id2 levels. This might indicate that Spi-B contributes to pDC development by promoting E2-2 activity. Consistent with notion, simultaneous overexpression of E2-2 and Spi-B in progenitor cells further stimulated pDC development. Together our results provide additional insight into the transcriptional network controlling pDC development as evidenced by the joint venture of E2-2 and Spi-B. [source] Evidence on Value Creation in the Financial Services Industries through the Use of Joint Ventures and Strategic AlliancesFINANCIAL REVIEW, Issue 2 2003Kimberly C. Gleason G21/G29/G14 Abstract While an extensive body of literature has examined merger, acquisition, and consolidation activity in commercial banks and other financial services firms, little attention has been paid to examining how these institutions use the cooperative activities of joint ventures and strategic alliances to accomplish their growth objectives. We analyze the effects of the use of joint ventures and strategic alliances by a sample of firms in the banking, investment services, and insurance industries. Our results show that commercial banks, investment services firms, and insurance companies experience significant abnormal returns of 0.66% on average when they announce their participation in a joint venture or strategic alliance. These abnormal returns are significantly positive across the four strategic motives of domestic, international, horizontal, and diversifying cooperative activities. Using a matched sample, we also show that our sample firms enjoy significant, positive, abnormal returns for holding periods of six, 12, and 18 months after the announcement of the cooperative activity. [source] Motivation and Meaning in Contemporary Art: From Tate Modern to the Primary School ClassroomINTERNATIONAL JOURNAL OF ART & DESIGN EDUCATION, Issue 3 2001Jacqueline Dear ,Art Now in the Classroom', was a joint venture between Goldsmiths College Education Department, Tate Modern and six Primary Schools in and around the London area (Sandhurst, Pilgrim's Way, Hawesdown, Hawkesmoore, Lauriston and Myatt Garden.) It ran from September to November 2000, beginning initially with the placement of two Goldsmiths students at each school then continuing with school visits to Tate Modern, and four Fridays spent working in the classroom, culminating in an exhibition at Tate Modern where the children from all six primary schools got to see their own work publicly displayed. This paper is an account of the work produced by the children from Sandhurst Primary School and an assessment of both the educational opportunities it provided for the primary classes involved and for the Goldsmiths students involved. The aims of the project were to demonstrate effective ways to work collaboratively with contemporary art, to support the development of teaching strategies at KS2 and KS3 and to offer possible approaches for working with contemporary material in the classroom. [source] The establishment of an academic nursing faculty: action research in IsraelINTERNATIONAL NURSING REVIEW, Issue 3 2009D. Arieli phd Aim:, The aim of this paper is twofold: to conceptualize tensions related to the academization of nursing, and to analyse a case study, describing how such tensions were dealt with in the process of establishing a new nursing department. Background:, This paper represents the first stage of a case study of the transformation of a hospital-based nursing school into an academic programme, carried out as a joint venture between a local hospital school and a college in northern Israel. Methods:, This paper is based on action research. The participants were 19 members of the new academic faculty and 3 members of an action research center. Findings:, The three inter-related tensions surfaced in the research process are: (1) the status of nursing and nurses, (2) the role of research and critical thinking in nursing education and practice, and (3) the characteristics of students, who should enrol in and graduate from nursing programmes, or in other words, the character of the ,ideal nurse'. Conclusions:, An action research process enables new teams to put tensions on the table so they can be openly addressed through ongoing reflection, inquiry, learning, evaluation and redesign. [source] Accounting for Joint Ventures and Associates in Canada, UK, and US: Do US Rules Hide Information?JOURNAL OF BUSINESS FINANCE & ACCOUNTING, Issue 3-4 2006Kazbi Soonawalla Abstract: Unlike US GAAP, accounting principles in Canada and the UK require disclosure of disaggregated components of joint ventures and associates. Using comparative analysis of Canadian, UK and US data, this study investigates the potential loss of forecasting and valuation relevant information from aggregating joint venture and associate accounting amounts. Findings show that aggregating joint venture and associate investment numbers, and aggregating joint venture revenues and expenses, each leads to loss of forecasting and valuation relevant information. Thus, current US accounting principles likely mask information that financial statement users could use to predict future earnings and explain share prices. [source] Joint venture evolution: extending the real options approachMANAGERIAL AND DECISION ECONOMICS, Issue 4 2008Jing Li Real options theory has emerged as a promising avenue to study joint venture (JV) evolution as a strategic response to managing uncertainty. We extend the real options approach by integrating it with game theory. Such a combined method enriches the valuation functions of each partnering firm and helps to identify the optimal decisions for exercising options in a JV. In our model, each firm's synergy from the joint operation and its knowledge acquisition capability (KAC) can significantly influence the competitive dynamics between partners, potentially affecting how each firm decides to acquire, divest, or dissolve. We employ a new solution technique in real options theory to capture the stochastic process of three factors, and use computer simulation to test the model under varying conditions. The results are stated in five testable propositions, providing a better understanding of the dynamics of a JV. We find that symmetries between partners in synergy or KAC contribute to stability or dissolution of the JV, whereas asymmetries in synergy or KAC make acquisition of the JV assets by one partner desirable. Copyright © 2008 John Wiley & Sons, Ltd. [source] Corporate investments and growth optionsMANAGERIAL AND DECISION ECONOMICS, Issue 8 2007Jeffrey J. Reuer Real options theory models certain corporate investments as investments in growth options, yet there is little direct evidence on whether firms actually capture growth option value from these investments. In the current paper, we attempt to bridge this empirical gap, and we also examine the conditions under which the growth option value embedded in such investments is enhanced. Results from a sample of manufacturing firms during 1989,2000 reveal that investments in research and development and joint venture (JV) investments contribute to firms' growth option values. We also show that, among JVs of different ownership structures, only minority JVs increase growth option value. Our findings affirm options theory's assertion that real options can help firms capture valuable upside opportunities, they highlight the value of examining contingencies that drive option value, and they also point to the challenges firms face in realizing the unique benefits the theory emphasizes. Copyright © 2007 John Wiley & Sons, Ltd. [source] VorteX , Enhancing the pedagogy in software development educationPROCEEDINGS OF THE AMERICAN SOCIETY FOR INFORMATION SCIENCE & TECHNOLOGY (ELECTRONIC), Issue 1 2003Mark Ridgway VorteX is a new product, pedagogically biased in its support for assisting and managing collaborative projects. Currently targeted at a software development environment, a joint venture between Khaydor Ltd and the University of Wales, Aberystwyth, VorteX will soon be more generally applicable. Through the use of collaboration, students are able to gain deeper knowledge and understanding of their work. Unfortunately, group projects are notoriously difficult to grade due to the lack of individual accountability. VorteX overcomes this problem by tracking developments of the group work, generating metrics and providing animation facilities to replay the activities undertaken. [source] Increasing the impact of conservation projectsAMERICAN JOURNAL OF PRIMATOLOGY, Issue 5 2010Lou Ann Dietz Abstract To assure a future for endangered primates and many other species, we must develop and carry out projects for their conservation as quickly and effectively as possible, even with only limited information about the complex systems of biological, political, social, economic, and cultural factors influencing the conservation situation. Adaptive management, defined as the integration of design, management, and monitoring to systematically test assumptions to learn and adapt, provides practitioners a method for improving strategies to achieve and sustain the desired conservation impact. The Conservation Measures Partnership, a joint venture of conservation NGOs, developed the Open Standards for the Practice of Conservation, a freely available framework that guides practitioners through implementation of best conservation practices. Using this process, project teams are explicit about the assumptions behind the strategies they choose, and thus able to trace their successes and failures back to good or poor theory, implementation, or a combination of the two. The Open Standards comprise five steps that constitute the project management cycle: (1) Conceptualize what you will achieve in the context of where you are working,involves defining your project team, scope, vision, conservation targets, critical threats, and analyzing the situation; (2) Plan your actions and monitoring,involves developing an action plan including goals, strategies, assumptions, objectives, and activities; a monitoring plan including indicators for measuring the status of goals, objectives, and assumptions; and an operational plan specifying the resources needed; (3) Implement your actions and monitoring,includes developing and implementing detailed work plans and ensuring sufficient resources, capacity, and partners; (4) Analyze, use, and adapt,involves managing monitoring data, regular analysis to convert them to useful information, and adapting the project plans accordingly; and (5) Capture and share learning,involves sharing lessons with key external and internal udiences to promote a learning culture. Am. J. Primatol. 72:425,440, 2010. © 2010 Wiley-Liss, Inc. [source] THE ECONOMIC EFFECTS OF THE MARATHON-ASHLAND JOINT VENTURE: THE IMPORTANCE OF INDUSTRY SUPPLY SHOCKS AND VERTICAL MARKET STRUCTURE,THE JOURNAL OF INDUSTRIAL ECONOMICS, Issue 3 2007CHRISTOPHER T. TAYLOR This study measures the effects of the Marathon/Ashland Petroleum (MAP) joint venture on rack and retail reformulated (RFG) gasoline prices in the four cities where both firms sold RFG before the joint venture. MAP was an early transaction in the recent era of petroleum mergers and resulted in large regional increases in concentration. While wholesale (rack) prices increased in the two cities experiencing the largest change in market structure in the year following the transaction, retail prices did not increase. Our results also highlight the importance of identifying the marginal source of supply in correctly identifying merger effects. [source] BAMBED to become an ASBMB/IUBMB joint venture in January, 2002BIOCHEMISTRY AND MOLECULAR BIOLOGY EDUCATION, Issue 6 2001J.G. Voet No abstract is available for this article. [source] Bioequivalence evaluation of two brands of furosemide 40mg tablets (Salurin and Lasix) in healthy human volunteersBIOPHARMACEUTICS AND DRUG DISPOSITION, Issue 6 2003Naji Najib Abstract A randomized, two-way, crossover, bioequivalence study was conducted in 24 fasting, healthy, male volunteers to compare two brands of furosemide 40 mg tablets, Salurin (Julphar, UAE) as test and Lasix (Hoechst AG, Germany) as reference product. The study was performed at the International Pharmaceutical Research Centre (IPRC), in a joint venture with Al-Mowasah Hospital, Amman, Jordan. One tablet of either formulation was administered with 240 ml of water after a 10 h overnight fast. After dosing, serial blood samples were collected for a period of 12 h. Plasma harvested from blood was analysed for furosemide by a validated HPLC method. Various pharmacokinetic parameters including AUC0,t, AUC0,,, Cmax, Tmax, T1/2, and elimination rate constant were determined from plasma concentrations of both formulations. Statistical modules (ANOVA and 90% confidence intervals) were applied to AUC0,t, AUC0,,, and Cmax to assess the bioequivalence of the two brands which revealed no significant difference between them, and 90% CI fell within the US FDA accepted bioequivalence range of 80%,125%. Based on these statistical inferences, Salurin was found to be bioequivalent to Lasix. Copyright © 2003 John Wiley & Sons, Ltd. [source] Decision-making Autonomy in UK International Equity Joint VenturesBRITISH JOURNAL OF MANAGEMENT, Issue 4 2003Keith W. Glaister This paper investigates approaches to decision making in international joint ventures (IJVs) from the perspectives of the transactions cost and resource-based theories of the firm. In particular, the concept of autonomy in decision-making in a sample of UK-European equity joint ventures is examined. The study adopts a multi-method personal interview and self-administered questionnaire approach to examine managerial perceptions of decision-making and autonomy in the parent firms and the joint venture. The findings show that there are differences in the perception of autonomy between each of the parent firms, and between the parent firms and the IJV management. When we unpack the nature of autonomy in detail, it is found that IJV managers have greater degrees of operational autonomy than strategic autonomy and that decision making by IJV managers takes place within the context of constraints set within the IJV's business plan. This confirms the transaction cost theory which posits that key internal markets (for management, technology and capital) will be under parent control and also supports the resource based view that key capabilities are protected under the business plan established by the parent firms. The influence on IJV autonomy of the moderating variables IJV performance and IJV duration are also examined. [source] Two journals in a joint ventureBRITISH JOURNAL OF SURGERY (NOW INCLUDES EUROPEAN JOURNAL OF SURGERY), Issue 8 2002J. A. Murie Editor-in-Chief, the British Journal of Surgery No abstract is available for this article. [source] The Village in a Game Park: Local Response to the Demise of Coal Mining in KwaZulu-Natal, South AfricaECONOMIC GEOGRAPHY, Issue 1 2003Tony Binns Abstract: Changing economic circumstances as a result of deindustrialization and market forces dramatically affect local areas and lead to a variety of local-level responses. Economic change and the reaction to this process have received much attention in the context of the decline of old heavy industrial regions in Western Europe and North America. But deindustrialization is also occurring elsewhere, for example, in countries such as South Africa, where the decline of mining and related industries is having a severe impact on the livelihoods of individuals, households, and communities. Considerations of institutional thickness, resourcefulness, and capacities inherent within host communities contribute to an understanding of the likely potential of the development response undertaken. This article considers the situation in a once important coal-mining region in northern KwaZulu-Natal, South Africa, focusing particularly on the community of Utrecht. In the postapartheid period, unemployment in the area has escalated, at a time when greater empowerment of the historically disadvantaged black population is urgently needed. Through cooperation within the community, together with the injection of external funding and collaboration in a series of joint ventures, Utrecht is progressively rebranding itself as a center for tourism. A number of community-initiated projects are discussed, and the dynamics of the formulation and implementation of the projects are evaluated in the context of the capabilities of individuals and institutions. [source] | ||||||||||||||||||||||||||||||||||||||||