Speaker：Dr. Zheng CHENG (Assistant Professor from the University of Wisconsin-Milwaukee)

Site：B127

Time：14:30-17:00,13.Jan.2017

Abstract：This study surveys the “hybrid” and “asset bundling” views of equity joint ventures (EJVs) in transaction cost economics (TCE) and then compares and contrasts their apparently conflicting predictions on the formation of EJVs. Using a sample of 2,958 inter-firm exchanges (contracts, EJVs, and mergers & acquisitions) formed among U.S public firms from 1994 to 2013, this study examines the relationship between the attributes of the assets from both exchange partners and their choice of EJVs. The empirical results shed light on the validity of those two perspectives and suggest that an integration of them will provide a more complete explanation of exchange mode within the TCE framework.

Dr. Zheng CHENG's CV ：https://uwm.edu/business/people/cheng-zheng/