Foreign Ownership in Joint Ventures Under Knowledge Leakage Risks : The Influence of Industrial Munificence and Dynamism

In this research, I investigate whether local industrial munificence and dynamism can influence ownership strategies of foreign firms when they bring more intangible assets to IJVs. Based on an investigation on 58,389 observations of IJVs in China, I find that industrial munificence positively moderates the relationship between intangible assets and foreign ownership. In contrast, industrial dynamism plays a negative moderating role in this relationship. Moreover, the moderating roles of munificence and dynamism vary across industries with different technology intensities