Causal attribution for peer performance and international joint venture divestment |
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| Institution: | 1. Jackstädt Center of Entrepreneurship and Innovation Research, University of Wuppertal, Gaußstraße 20, 42119 Wuppertal, Germany;2. RWI – Leibniz-Institut für Wirtschaftsforschung, Hohenzollernstrasse 1-3, 45128 Essen, Germany;3. Hochschule Stralsund – University of Applied Sciences, Zur Schwedenschanze 15, 18435 Stralsund, Germany;1. Department of Marketing and Management, University of Southern Denmark, Campusvej 55, 5230 Odense M, Denmark;2. School of Marketing and Communication, University of Vaasa, Wolffintie 34, 65200 Vaasa, PL BOX 700, 65101 Vaasa, Finland |
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| Abstract: | We theorize that compared to peers' consistent subsidiary performance (i.e., negative subsidiary performance of unsuccessful peers and positive subsidiary performance of successful peers), firms are more likely to attribute peers' inconsistent subsidiary performance (i.e., negative subsidiary performance of successful peers and positive subsidiary performance of unsuccessful peers) to external factors that would also influence their own international joint venture (IJV) in the same market. As a result, peers' inconsistent subsidiary performance is more likely to make the observing firms adjust the expected prospects of their own IJV, thereby changing the likelihood of divestment. We also examine the boundary conditions for the effects of peers' inconsistent subsidiary performance, namely the stability of the external environment and the presence of local partner(s) in the focal IJV. Analysis of 460 Japanese IJVs established from 1996 to 2015 provides support for the importance of causal attribution in learning from peer performance. |
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