Joint Venture negotiation and managerial practices in the new countries of the former Soviet Union

Munns, A.K.; Aloquili, O.; Ramsay, Bruce A.

doi:10.1016/s0263-7863(99)00071-x

Cited by 26 publications

(33 citation statements)

References 8 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Chow (1985) stated that there is no generally accepted statutory or legal definition of a JV, at least under common legal law systems. Garb (1988) quoted the appropriate definition of joint-venture groupings, in the context of the construction industry, as: Munns, Aloquili and Ramsay (2000) attempted to define JVs by employing five criteria: legal agreement, duration, equality, participants and profits. Resorting to these five criteria, the study of Munns et al (2000) is concerned with business JVs between two or more partners of comparable commitment, who create a distinct legal entity that may be of fixed or unlimited duration.…”

Section: Definition and Scope Of Joint Ventures In Constructionmentioning

confidence: 99%

“…The distinction of contractual JVs and equity JVs in the context of multinational partners, within the study of Girmscheid and Brockmann (2010), is among the rare cases concerning the differentiation of JVs and CJVs in terms of the scope of study. Similar scarce instance for providing any implications for the procedural formation of CJVs could be resorted to the cyclic model of negation developed by Munns et al (2000) for the formation of JVs in construction, which involves five sequential elements of aspiration, information exchange, social exchange, knowledge and uncertainty. Another instance of contribution to the model development relating to CJVs is the study of Ho et al (2009a), where a model for organizational governance choices in CJVs was proposed to decide on the use of joint managed JVs or separately managed JVs.…”

Section: Theory and Model Development Of Cjvsmentioning

confidence: 99%

“…Motives and benefits underneath the application of CJVs, as identified by the previous studies, involve technology transfer (Norwood and Mansfield, 1999;Kumaraswamy and Shrestha, 2002;Girmscheid and Brockmann, 2010), risk sharing/transfer (Norwood and Mansfield, 1999;Kazaz and Ulubeyli, 2009;Girmscheid and Brockmann, 2010), financial strengths (Kumaraswamy and Shrestha, 2002;Kazaz and Ulubeyli, 2009;Girmscheid and Brockmann, 2010), together with combination/pooling of general resources and specialist skills (Norwood and Mansfield, 1999;Munns et al, 2000;Kazaz and Ulubeyli, 2009). Other potential benefits such as bringing in outside expertise (Norwood and Mansfield, 1999), and opportunities for long-term profitable business development (Bellhouse, 1999) have also been referred to in the literature.…”

Section: Motives Benefits and Other Strategic Demands Of Applicationmentioning

confidence: 99%

“…Prior research has articulated that the worldwide trend of using JVs has increased since the 1990s, but with very unsatisfactory results (Munns et al, 2000). Nearly one-third (31%) of these JVs in place to deliver a construction project resulted in disputes (Allen, 2011).…”

Section: Implications From Literature Reviewmentioning

confidence: 99%

See 3 more Smart Citations

Research trend of joint ventures in construction: a two-decade taxonomic review

Hong

Chan

2014

Journal of Facilities Management

108

View full text Add to dashboard Cite

Purpose -This paper aims to systematically and critically explore the research trend of construction joint ventures (CJVs) in some selected leading construction journals over the past two decades between 1993 and 2012. It is also expected that some valuable insights into the extended application of JVs to facilities service management and maintenance could be generated from the research findings.Design/methodology/approach -A powerful search engine "Scopus" was selected to identify those journals that have published CJV related articles. Papers related to CJVs, as retrieved from the selected journals, were firstly classified based on their relevance to CJV study and were then analyzed in terms of the annual number of CJV related publications, research focus of CJV studies and the applied research methods and techniques. Future research directions are suggested to enrich and add value to the extant literature about CJVs.Findings -An apparent increasing trend of research on CJVs has been witnessed over the past two decades. A critical analysis of the two-decade research outputs indicated that research topics of CJVs published in the selected journals consist of several key areas: (1) theory and model development; (2) motives, benefits and other strategic demands of application; (3) performance measurement or management; (4) risk assessment or management; (5) influential factors for practice; (6) problematic issues and challenges in practice; and (7) Managerial practices of CJVs in the industry. This study also identified that the research methods employed in CJV studies are predominantly questionnaire survey, case study, literature review/analysis, and interview. Research techniques applied in CJV studies were classified into seven main groups, with rank-order analysis, structural equation modelling and regression analysis being the three mostly adopted analytical tools.Research limitations/implications -The critical review of CJV literature reveals several inherent limitations of the existing research and practices of CJVs, The research findings also help visualize future research directions associated with the identification of barriers to the adoption and successful operation of CJVs, investigation of the appropriateness and effectiveness of CJV contracting strategies, and exploration into possible strategies for improving the industrial applications in future. This is the Pre-Published Version. Journal of Facilities Management (Final Accepted Manuscript), Volume 12, Issue 2, May 2014, Pages 118-141 2 Originality/value -Joint Ventures have been extensively used in the construction sector, which calls for the need of more rigorous and meaningful research to guide the appropriate and effective use of it. The findings of this taxonomic review could provide useful insights towards researchers into shaping their research foci under the umbrella of CJVs to suit the demands of both the literature base and the real construction market.

show abstract

Section: Definition and Scope Of Joint Ventures In Constructionmentioning

confidence: 99%

Section: Theory and Model Development Of Cjvsmentioning

confidence: 99%

Section: Motives Benefits and Other Strategic Demands Of Applicationmentioning

confidence: 99%

Section: Implications From Literature Reviewmentioning

confidence: 99%

See 2 more Smart Citations

Research trend of joint ventures in construction: a two-decade taxonomic review

Hong

Chan

2014

Journal of Facilities Management

108

View full text Add to dashboard Cite

show abstract

“…The desire for and search for collaborators to achieve synergistic competitiveness is the prime motive for companies to collaborate [1]. More and more companies take part in construction projects by means of joint ventures (JVs) [2].Through the manipulation of the appropriate resources, a JV may bring about different kinds of 978-1-61284-069-7/11/$26.00 benefits to participating companies, such as technology transfer, risk sharing, reduced cost, knowledge sharing, and resource complementarities [3][4][5][6][7]. JV has become an important strategy for construction companies in response to the increasing demands in the construction industry.…”

mentioning

confidence: 99%

A strategic bargaining decision support model for project-based alliance

Yan

2011

2011 IEEE Symposium on Computational Intelligence in Multicriteria Decision-Making (MDCM)

View full text Add to dashboard Cite

Project businesses and project-based strategic alliances have become an innovative business model to obtain synergistic competitiveness in the highly competitive market. However, in the practices of the alliances, conflicts and bargaining between team members are frequently occurred, while companies are seeking to maximize their own profits in the course of executing the cooperative project. Thus, to satisfy both parties, a bargaining decision support model is of great necessity for estimating the acceptable rewards of the cooperative parties which is crucial for enhancing the possibility of reaching a win win agreement in the bargaining. In this paper, we develop a sequential bargaining model to support strategic bargaining decisions. The model, based on Dynamics Game Theory, can estimate acceptable prices for participants in accordance with each party's costs and needs for the project's revenue. Since the partner's qualification and reputation constitute certain risks of the alliance, the alliance risk discount factors are additionally considered in the proposed model by incorporating fuzzy sets and utility-based assessment methods. The integrated model enables strategic-alliance companies to estimate their bargaining positions in different cases and select proper bargaining strategies in a systematic and rational manner, so as to maintain their right businesses.Project businesses and project-based organizations are increasingly emerging in modern marketplaces. With the increasing scale and complexity of projects, the business environment becomes more challenging and a single company can no more manage a complicated project alone. The project based alliance is especially popular in the construction industries.In recent decades, construction projects have become larger and more complex, and the application of alternative procurement systems such as design-build (DB) and build-operate-transfer (BOT) has been increased. A growing number of construction projects have exceeded the scope that can be handled by a single company. The desire for and search for collaborators to achieve synergistic competitiveness is the prime motive for companies to collaborate [1]. More and more companies take part in construction projects by means of joint ventures (JVs) [2].Through the manipulation of the appropriate resources, a JV may bring about different kinds of 978-1-61284-069-7/11/$26.00 benefits to participating companies, such as technology transfer, risk sharing, reduced cost, knowledge sharing, and resource complementarities [3][4][5][6][7]. JV has become an important strategy for construction companies in response to the increasing demands in the construction industry.While two profit-oriented companies intend to cooperate and form a strategic alliance for a particular project, it is relatively easy to divide the work scope based on each party's specialty, but, is always difficult to reach an agreement in terms of sharing risks and rewards. To form a JV team, companies have to select partner(s), assign each party's work sc...

show abstract