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This paper compares and contrasts the mode of foreign market entry decision from the transaction cost/internalization and organizational capability perspectives. Each of these perspectives operatesExpand
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Reassessing the fundamentals and beyond: Ronald Coase, the transaction cost and resource-based theories of the firm and the institutional structure of production
In this paper, three points are argued. The first is that Ronald Coase, best known as the forefather of transaction cost theory, foresaw many of the critical questions that proponents of theExpand
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Resources, Transactions and Rents: Managing Value Through Interfirm Collaborative Relationships
This paper offers a theoretical explanation for why interfirm collaborations form yet fail, and further suggests how firms might manage them for a more positive outcome. Based on a perspective ofExpand
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Revisiting multinational firms' tolerance for joint ventures: a trust-based approach
In spite of the increasing popularity of international joint ventures, managers express a high level of dissatisfaction with them. This paper argues that overemphasis on the outcome has resulted in aExpand
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Toward An Integrative Perspective on Alliance Governance: Connecting Contract Design, Trust Dynamics, and Contract Application
On the basis of a case study of two sequential alliances between the same firms, we develop a more integrative perspective on alliance governance, providing insights into the interactions betweenExpand
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Acquisitions as Entrepreneurship: Asymmetries, Opportunities and the Internationalization of Multinationals from Emerging Economies
We investigate the rapid internationalization of many multinationals from emerging economies through acquisition in advanced economies. We conceptualize these acquisitions as an act and form ofExpand
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The nature of multinational firm boundaries: Transaction costs, firm capabilities and foreign market entry mode
Under the rubric of internalization theory, transaction cost-based arguments have been dominant in addressing multinational firms' mode of foreign market entry decisions. Another line of argumentExpand
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Crossroads---The Organization of Economic Activity: Transaction Costs, Firm Capabilities, and the Nature of Governance
In a recent 1993 paper in Organization Science , Hennart discussed the underlying logic, based on transaction cost and agency theory, for explaining the choice between firms and markets and theExpand
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Process Capabilities and Value Generation in Alliance Portfolios
This paper develops a multidimensional, process-based conceptualization of alliance portfolio management capability. Arguing that such a capability consists of organizational processes to proactivelyExpand
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Trust and Formal Contracts in Interorganizational Relationships - Substitutes and Complements
We hypothesize that trust is a moderator of the direct relationship between control and coordination concerns and contractual complexity. Our results suggest that high trust weakens the positiveExpand
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