Based on Real Options Theory and taking the perspective of growth options exercising, as well as Tobit model, this paper explores how Japanese enterprises adjust ownership structures in their affiliates as a portfolio in China. Empirical results show that: both demand uncertainty and industry...

Based on Real Options Theory and taking the perspective of growth options exercising, as well as Tobit model, this paper explores how Japanese enterprises adjust ownership structures in their affiliates as a portfolio in China. Empirical results show that: both demand uncertainty and industry...

This paper investigates how contract structure influences inter-firm dispute resolution processes and outcomes by examining a unique dataset consisting of over 150,000 pages of documents relating to 102 business disputes. We find that the level of contract detail affects the type of dispute...