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Wholly‐owned vs. collaborative ventures for diversifying financial services

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Wholly‐owned vs. collaborative ventures for diversifying financial services. / Ingham, Hilary; Thompson, Steve.
In: Strategic Management Journal, Vol. 15, No. 4, 31.05.1994, p. 325-334.

Research output: Contribution to Journal/MagazineJournal articlepeer-review

Harvard

Ingham, H & Thompson, S 1994, 'Wholly‐owned vs. collaborative ventures for diversifying financial services', Strategic Management Journal, vol. 15, no. 4, pp. 325-334. https://doi.org/10.1002/smj.4250150406

APA

Vancouver

Ingham H, Thompson S. Wholly‐owned vs. collaborative ventures for diversifying financial services. Strategic Management Journal. 1994 May 31;15(4):325-334. doi: 10.1002/smj.4250150406

Author

Ingham, Hilary ; Thompson, Steve. / Wholly‐owned vs. collaborative ventures for diversifying financial services. In: Strategic Management Journal. 1994 ; Vol. 15, No. 4. pp. 325-334.

Bibtex

@article{8bb23e07d07d44e392bdd0a36bacad8e,
title = "Wholly‐owned vs. collaborative ventures for diversifying financial services",
abstract = "Recent empirical work has supported the Penrose‐Teece view that firms diversify to exploit fully specific assets or capabilities. Where transactions costs permit, these economies of scope may be realized via input supply contracts among producers. However, asset specificities frequently create transactions costs which discourage market contracting and leave firms with a choice between collaborative ventures and wholly‐owned new entry. This research uses the natural experiment of financial services deregulation to explore the collaborative‐own entry choice for 292 new entries in 13 financial product markets. The results generally support our maintained hypotheses that specificity encourages full ownership while collaboration is used to ease a resource constraint.",
keywords = "Asset specificity, collaboration, joint ventures",
author = "Hilary Ingham and Steve Thompson",
year = "1994",
month = may,
day = "31",
doi = "10.1002/smj.4250150406",
language = "English",
volume = "15",
pages = "325--334",
journal = "Strategic Management Journal",
issn = "0143-2095",
publisher = "John Wiley and Sons Ltd",
number = "4",

}

RIS

TY - JOUR

T1 - Wholly‐owned vs. collaborative ventures for diversifying financial services

AU - Ingham, Hilary

AU - Thompson, Steve

PY - 1994/5/31

Y1 - 1994/5/31

N2 - Recent empirical work has supported the Penrose‐Teece view that firms diversify to exploit fully specific assets or capabilities. Where transactions costs permit, these economies of scope may be realized via input supply contracts among producers. However, asset specificities frequently create transactions costs which discourage market contracting and leave firms with a choice between collaborative ventures and wholly‐owned new entry. This research uses the natural experiment of financial services deregulation to explore the collaborative‐own entry choice for 292 new entries in 13 financial product markets. The results generally support our maintained hypotheses that specificity encourages full ownership while collaboration is used to ease a resource constraint.

AB - Recent empirical work has supported the Penrose‐Teece view that firms diversify to exploit fully specific assets or capabilities. Where transactions costs permit, these economies of scope may be realized via input supply contracts among producers. However, asset specificities frequently create transactions costs which discourage market contracting and leave firms with a choice between collaborative ventures and wholly‐owned new entry. This research uses the natural experiment of financial services deregulation to explore the collaborative‐own entry choice for 292 new entries in 13 financial product markets. The results generally support our maintained hypotheses that specificity encourages full ownership while collaboration is used to ease a resource constraint.

KW - Asset specificity

KW - collaboration

KW - joint ventures

U2 - 10.1002/smj.4250150406

DO - 10.1002/smj.4250150406

M3 - Journal article

AN - SCOPUS:84989103252

VL - 15

SP - 325

EP - 334

JO - Strategic Management Journal

JF - Strategic Management Journal

SN - 0143-2095

IS - 4

ER -