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Abstract
Why are some damaged international joint venture relationships repaired? Under what conditions does such a repair make sense? This article addresses these two questions by drawing on real options theory. Not all troubled relationships are terminated immediately; instead, many are repaired and retained for a prolonged time. Counter-intuitively, we make the case that that repairing and retaining of troubled relationships may be a reflection of their interests in keeping real options alive. They remain in collaboration until a future decision point comes and a 'go' or 'not go' decision can be made.
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Abstract
Why are some damaged international joint venture relationships repaired? Under what conditions does such a repair make sense? This article addresses these two questions by drawing on real options theory. Not all troubled relationships are terminated immediately; instead, many are repaired and retained for a prolonged time. Counter-intuitively, we make the case that that repairing and retaining of troubled relationships may be a reflection of their interests in keeping real options alive. They remain in collaboration until a future decision point comes and a 'go' or 'not go' decision can be made.