Thesis (PhD) -- University of Western Sydney, 2001. / "June 2001" Bibliography: leaves 255 - 265.

Univ., Diss.--Hohenheim, 2004.

Submitted by Juliana Sampaio (jsampaio82@gmail.com) on 2015-02-23T14:50:06Z No. of bitstreams: 1 Dissertação Juliana Sampaio - Versão Final.pdf: 553042 bytes, checksum: 5f5e442204c8a6a912bf21c01f7868fe (MD5) / Rejected by Renata de Souza Nascimento (renata.souza@fgv.br), reason: Prezada Juliana, boa noite Seu trabalho foi rejeitado por não estar de acordo com as normas da ABNT. Encaminhei por e-mail o que deve ser alterado (Somente alguns detalhes). Att Renata on 2015-02-23T22:52:02Z (GMT) / Submitted by Juliana Sampaio (jsampaio82@gmail.com) on 2015-02-23T23:59:07Z No. of bitstreams: 1 Dissertação Juliana Sampaio - Versão Final.pdf: 553115 bytes, checksum: c7d8f3a68dcbf604051728b13fc52f6f (MD5) / Approved for entry into archive by Renata de Souza Nascimento (renata.souza@fgv.br) on 2015-02-24T00:18:39Z (GMT) No. of bitstreams: 1 Dissertação Juliana Sampaio - Versão Final.pdf: 553115 bytes, checksum: c7d8f3a68dcbf604051728b13fc52f6f (MD5) / Made available in DSpace on 2015-02-24T13:41:33Z (GMT). No. of bitstreams: 1 Dissertação Juliana Sampaio - Versão Final.pdf: 553115 bytes, checksum: c7d8f3a68dcbf604051728b13fc52f6f (MD5) Previous issue date: 2015-01-26 / O presente estudo analisa o modo de expansão das multinacionais no Brasil, país emergente e de dimensões continentais que apresenta enormes desigualdades regionais. Assim, foram analisadas as estratégias de expansão dos dez maiores grupos estadunidenses no Brasil entre 2004 e 2013, sob a ótica das teorias tradicionais de internacionalização e da teoria dos ativos complementares de Hennart. Verificou-se que as diferentes características regionais brasileiras levam as multinacionais a realizarem aquisições quando iniciam atividades em novas regiões. Ademais, foi constatado que outros fatores, como dificuldades intrínsecas aos setores de atuação e a entrada do grupo multinacional em novas atividades que não a sua predominante, afetam o modo de expansão das multinacionais, levando-as a realizar aquisições e joint ventures. Tais aquisições e joint ventures são explicadas pela dificuldade das multinacionais em acessar ativos complementares locais, em conformidade à teoria de Hennart. Por outro lado, e em contrariedade às teorias tradicionais, foi verificado que a experiência das multinacionais no Brasil nem sempre influencia o seu comprometimento nos países hospedeiros, levando ao estabelecimento de subsidiárias integrais. / This work analyzes the expansion decision made by multinational groups in Brazil, an emerging nation showing sizeable regional differences. We analyzed the expansion strategies of the 10 major US groups in Brazil between 2004 and 2013 based on traditional local internationalization theories and Hennart’s bundling model. We found evidence that the different Brazilian regional characteristics cause multinationals to carry out acquisitions when they need to enter in a new region. Also, we found that Brazilian market factors such as concentration, growth, industries’ intrinsic features and the engagement in new activities affect the expansion mode of multinationals, causing such corporations to carry out acquisitions and establish joint ventures. The acquisitions and joint ventures are explained by the difficulty in obtaining access to local complementary assets in these specific cases, a result in line with Hennart's assertions. On the other hand, we noticed that the experience of multinationals in Brazil not always influences its commitment in the host countries and gives rise to the establishment of wholly-owned subsidiaries.

Submitted by Gustavo Duarte Pimenta (gustavo.pimenta@aes.com) on 2012-09-14T14:11:46Z No. of bitstreams: 1 Gustavo Pimenta - Dissertação MPFE - vFinal4.pdf: 155130 bytes, checksum: 13a9f1c944e938153edb425c6c2539ee (MD5) / Approved for entry into archive by Suzinei Teles Garcia Garcia (suzinei.garcia@fgv.br) on 2012-09-14T14:24:39Z (GMT) No. of bitstreams: 1 Gustavo Pimenta - Dissertação MPFE - vFinal4.pdf: 155130 bytes, checksum: 13a9f1c944e938153edb425c6c2539ee (MD5) / Made available in DSpace on 2012-09-14T15:11:28Z (GMT). No. of bitstreams: 1 Gustavo Pimenta - Dissertação MPFE - vFinal4.pdf: 155130 bytes, checksum: 13a9f1c944e938153edb425c6c2539ee (MD5) Previous issue date: 2012-08-15 / The drivers for entry and expansion modes of multinational enterprises (MNEs) have been studied by several authors over the last decades but empirical results have been historically mixed. More recently, Hennart (2009) argued that the reason for the inconsistent results to date resided in the fact that prior theories assumed that local markets could be freely accessed based on a unilateral decision by the MNEs, and then proposes an alternative framework in which the entry and expansion modes of MNEs in foreign countries are a solution based on the relative efficiency of both markets. In this study, the proposed framework is tested against the prior theories based on investments made by U.S.-based MNEs in Brazil from 2005 to 2010. The results suggest that the local market characteristics, more specifically the concentration ratio at the firm and asset levels, are indeed important to influence the entry and expansion mode of U.S.-based MNEs in Brazil, reinforcing the argument against MNEs-centric theories. However, differently from Hennart’s proposition, we were not able to confirm the hypotheses that the MNEs skills are relevant to influence the final solution. We have also tested whether the difference in growth rate between the two countries could be a driver for MNEs to favor acquisition over greenfield given the opportunity cost of postponing the investments. The test result, based on our sample, was not able to confirm this hypothesis.

Doctorat en sciences sociales, politiques et économiques / info:eu-repo/semantics/nonPublished

International Joint Ventures are important for international Business. In recent years, firms started to convert their International Joint Ventures into Wholly Foreign Owned Enterprises. However, there is only a limited understanding for the conversion of International Joint Ventures into Wholly Foreign Owned Enterprises. The purpose of this study is to offer reasoning for this phenomenon. The theoretical framework that was developed for this thesis is based on the FDI Motive theory and the OLI framework. From a methodological perspective, a deductive approach is followed. The qualitative research was using a multiple case study design to collect primary data to answer the research questions. The results of this study suggest, that two aspects of the FDI Motive theory have an effect on the International Joint Venture conversion into a Wholly Foreign Owned Enterprise. For the market seeking motive, firms believe to be able to better maximize their market share by taking full control over the subsidiary. Also, the resource seeking motive is in this thesis identified as an important reason for the conversions, as companies see especially advantages in taking full control over labour in those markets. However, the Strategic Asset Seeking and Efficiency Seeking motives are not included in the study. Also, several changes of OLI factors were identified as impactful for the conversion. The decrease of cultural difference between home and foreign market, the increase of perception of market size, gaining of international experience as well as the decrease of risk in the foreign market are all factors which are important for the reasoning of converting an International Joint Venture into a Wholly Foreign Owned Enterprise. In addition, no correlation between the conversion and the enforcing of contracts or the size of the company were observed in this study. Furthermore, this thesis suggests that there are also other factors that were not identified by the theoretical frameworks. Lack of trust in the partner, liberalisation of governmental regulations, bad financial performances of the International Joint Ventures and economic crises are aspects that have an influence on conversions as well. The findings of this thesis will help Swedish based firms to understand the phenomenon of firms converting their International Joint Ventures into Wholly Foreign Owned Enterprises in India and the People’s Republic of China.

International Joint Ventures are important for international Business. In recent years, firms started to convert their International Joint Ventures into Wholly Foreign Owned Enterprises. However, there is only a limited understanding for the conversion of International Joint Ventures into Wholly Foreign Owned Enterprises. The purpose of this study is to offer reasoning for this phenomenon. The theoretical framework that was developed for this thesis is based on the FDI Motive theory and the OLI framework. The results of this study suggest, that two aspects of the FDI Motive theory have an effect on the International Joint Venture conversion into a Wholly Foreign Owned Enterprise. For the market seeking motive, firms believe to be able to better maximize their market share by taking full control over the subsidiary. Also, the resource seeking motive is in this thesis identified as an important reason for the conversions, as companies see especially advantages in taking full control over labour in those markets. However, the Strategic Asset Seeking and Efficiency Seeking motives are not included in the study. Also, several changes of OLI factors were identified as impactful for the conversion. The decrease of cultural difference between home and foreign market, the increase of perception of market size, gaining of international experience as well as the decrease of risk in the foreign market are all factors which are important for the reasoning of converting an International Joint Venture into a Wholly Foreign Owned Enterprise. In addition, no correlation between the conversion and the enforcing of contracts or the size of the company were observed in this study. Furthermore, this thesis suggests that there are also other factors that were not identified by the theoretical framework. Lack of trust in the partner, liberalisation of governmental regulations, bad financial performances of the International Joint Ventures and economic crises are aspects that have an influence on conversions. The findings of this thesis will help Swedish based firms to understand the phenomenon of firms converting their International Joint Ventures into Wholly Foreign Owned Enterprises in India and the People’s Republic of China.

The new South Africa has an amazing economic growth that creates a significant opportunity for international companies to start their businesses in South Africa. For those companies which are interested in the South African market, it is very important for them to understand the factors that influence their entry-mode selection. The objective of this study is to determine the main factors that have an impact on the decision of a foreign business to enter South Africa. To achieve this objective, the researcher used an integrated study method, as follows: {u10007A} A systematic review of the popular entry-modes and the main factors influencing the entry-mode selection, sourced from the relevant literature. In addition, South African business was also introduced. {u10007A} Based on the factors related in the literature, an empirical survey was completed by those foreign companies who had already successfully entered into South Africa, in order to figure out the rank importance of these factors. With an integrated study of literature and empirical research, the rank importance of factors that have an impact on the foreign business entry-mode selection in South Africa is as follows: 1. Firm’s product 2. Control level of entry-mode 3. Ownership of entry 4. Resource commitment of entry-mode 5. Political factor 6. Firm’s objective 7. Technological factors 8. Economic factors 9. Firm’s experience in international marketing 10. Firm’s size 11. Dissemination risk of entry-mode 12. Socio-cultural factors 13. Flexibility of entry-mode Key terms: International market entry-mode South African business environment.

Les besoins en pétrole ont généré des dépendances et des fragilités, autant au niveau des pays consommateurs, que producteurs. Cette ressource a un rôle stratégique dans notre société, notamment dans le transport. Les NOCs (compagnies nationales pétrolières) en sont des acteurs centraux, qui poursuivent leurs objectifs, mais aussi des intérêts de l’Etat. Les pays dits BRIC (Brésil, Russie, Inde et Chine) sont des économies avec une influence significative sur le marché de l’énergie. Nous analysons deux comportements des NOCs pour améliorer la sécurité énergétique nationale : l’intégration verticale pour les pays consommateurs (Inde et Chine) et l’exploration réalisée par les coentreprises en partenariat avec les IOCs (compagnies privées) pour les producteurs (Brésil et Russie). Nous utilisons des méthodes économétriques et le calcul de rentabilité d’un projet d’exploration. Nous estimons le coût d’opportunité lié à un retard de la production. Le sujet est pertinent, dans un contexte d’instabilité politique de certains producteurs de pétrole et un prix du brut faible depuis la moitié de l’année 2014, obligeant les compagnies à revoir leurs stratégies. / Oil needs have generated dependencies and fragilities for producing and consuming countries. This resource plays a strategic role in our modern society. NOCs (National Oil Companies) are main actors pursuing, in addition to their objectives, State’s interest. BRIC (Brazil, Russia, India and China) are economies with a significant influence on the energy market. In this research, we analyze two NOCs’ behaviors to improve national energy security: vertical integration for the consuming countries (India and China) and joint-ventures with IOCs (private companies) in exploration for the producing countries (Brazil and Russia). We use econometric methods and the profitability calculation in an exploration project. We calculate the opportunity cost related to a production delay. The subject is particularly relevant, in a context of political instability of certain oil producing areas and also with a low crude price since mid-2014, forcing oil companies to review their strategies.

Los Joint Venture son contratos asociativos utilizados a nivel mundial, con la finalidad que las partes (ya sean personas naturales o jurídicas) que lo conforman cooperen entre ellas. No obstante al uso casi global de estos contratos, en la actualidad aún existen algunas diferencias de trato jurídico y practico que podemos advertir, tal como se encuentra establecido en normativas norteamericanas, españolas, alemanas, peruanas, entre otros; sin embargo, este problema, no parte únicamente con la regulación de este tipo de contratos, sino que parte por el reconocimiento general de los contratos asociativos, o llamados también “partnership”, ya que en algunos países como es el caso de España, Estados Unidos, y Alemania, permiten constituir personas jurídicas con estos instrumentos societarios, a diferencias de nuestra regulación que, de acuerdo a nuestra ley societaria, se encuentra prohibida esta posibilidad. Justamente esta situación jurídica asimétrica que tenemos frente a lo que en mercado se acepta, es la justificación de este trabajo, toda vez que de aquí parte problemas de índole económico, internacional y sobre todo nacional, ya que la participación de estas agrupaciones de empresas es sumamente importante tenerla en cuenta para nuestra económica y evolución como país, al igual como en otros países se encuentra reconocido, con lo cual, mi principal objetivo determinar si con la inclusión de los Joint Venture en nuestra Ley General de Sociedades, se podría cambiar la perspectiva de los contratos asociativos, facilitando la funcionalidad empresarial de las agrupaciones conformadas por estos contratos. En el desarrollo de la presente investigación se demuestra cómo es que la practica comercial y jurídica de otras materias, han tratado a estas agrupaciones como personas jurídicas, razón por la cual, se llegó a la conclusión que, lo ideal sería incluir la posibilidad que, a través de estos contratos asociativos podamos constituir personas jurídicas nuevas. / Trabajo de investigación