Corporate multinationalism, organizational learning, and market reaction to international joint ventures: Evidence from Taiwan

Shao Chi Chang, Ping Chang Huang

研究成果: Article同行評審

4 引文 斯高帕斯(Scopus)

摘要

This study examines the importance of corporate multinationalism and organizational learning in explaining the wealth effects of international joint ventures announcements in Taiwan. The evidence indicates that firms announcing international joint ventures into countries with no prior operational activity experience significantly favorable market response. In contrast, prior experience in international joint ventures does not explain the cross-sectional difference of announcement period abnormal returns. These findings remain the same even after controlling other explanatory variables. The evidence supports the positive multinational network hypothesis, but is inconsistent with organizational learning hypothesis.

原文English
頁(從 - 到)181-194
頁數14
期刊Global Finance Journal
13
發行號2
DOIs
出版狀態Published - 2002

All Science Journal Classification (ASJC) codes

  • 金融
  • 經濟學與計量經濟學

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