Successful adaptation in strategic alliances "calls for a delicate balance between the twin virtues of reliability and flexibility" [Parkhe 1998]. On one hand, the joint venture must be flexible enough to respond to the uncertainties of competitive business environments because it is not...

Scholars have increasingly recognized the importance of institutional owners inthe life of the firm and have sought to explain how and when these owners influencefirm-level strategies. In spite of evidence that these owners can and do affect broadstrategies, there is little empirical support for...

Privatization is defined as the sale of state-owned assets by governmental agencies to private investors (e.g., Megginson, Nash, Netter, and Poulsen, 2004; Villalonga, 2000). Research on privatization has focused on privatization techniques (e.g., share issue privatization or voucher privatization),...