합작투자기업의 지분 변화 결정 요인에 관한 연구 - 경영성과와 초기지분구조의 영향을 중심으로 = Performance and Change in Ownership Structure of International Joint Ventures

다국어 초록 (Multilingual Abstract)

This study examined the effect of financial performance, initial ownership structure and ineraction of them on change in ownership structure of international joint-ventures in Korea by employing a logistic regression model. The results suggest that the possibility of change in ownership structure tends to increase when the financial performance of joint venture is either better or worse than the industry average level, and that international joint ventures with unequal initial ownership structure are more likely to change their ownership structure. In addition, the initial ownership structure moderates the effect of performance on change in ownership structure. Specifically, when the initial ownership structure is unequal, the degree of performance effect is higher than when the initial ownership structure is equal.