Internationalization of Family Businesses

Evidences from Joint Venture Formations at Danfoss

    Research output: Chapter in Book/Report/Conference proceedingConference abstract in proceedingsResearchpeer-review

    Abstract

    This article focuses on the international joint venture formation process of family businesses. The reasoning behind Danfoss’ decision to cooperate with two competing family businesses in Japan and China as well as two nonfamily businesses in Canada and Britain will be analysed. In-depth qualitative interviews reveal the driving forces on both sides and show how the psychic distance can be reduced between the different parent firms including the joint venture (JV) child. The purpose of this study is to compare equal split or equity joint ventures of non-family and family firms regarding the formation process including competences and cultures. The study indicates what core competences of a family business matter when cooperating in equal split joint ventures. Implications for family business owners and ideas for future research are discussed.
    Original languageEnglish
    Title of host publicationIFERA@China 2010 Family Business Forum : 1st Chinese Family Business Summit
    Number of pages1
    Place of PublicationSchool of Management & Economics; BIT, Zhuhai Campus
    Publication date12. Jan 2010
    Pages8
    Publication statusPublished - 12. Jan 2010

    Fingerprint

    Joint ventures
    Family business
    Internationalization
    Driving force
    International joint ventures
    Canada
    Japan
    Core competence
    Psychic distance
    Owners
    Family firms
    China
    Equity joint ventures

    Keywords

    • core competences
    • Psychic Distance
    • Joint Venture Formation (JVF) Process
    • Internationalization Strategies
    • Family Businesses

    Cite this

    Boyd, B., Hollensen, S., & Goto, T. (2010). Internationalization of Family Businesses: Evidences from Joint Venture Formations at Danfoss. In IFERA@China 2010 Family Business Forum: 1st Chinese Family Business Summit (pp. 8). School of Management & Economics; BIT, Zhuhai Campus.
    Boyd, Britta ; Hollensen, Svend ; Goto, Toshio. / Internationalization of Family Businesses : Evidences from Joint Venture Formations at Danfoss. IFERA@China 2010 Family Business Forum: 1st Chinese Family Business Summit. School of Management & Economics; BIT, Zhuhai Campus, 2010. pp. 8
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    Boyd, B, Hollensen, S & Goto, T 2010, Internationalization of Family Businesses: Evidences from Joint Venture Formations at Danfoss. in IFERA@China 2010 Family Business Forum: 1st Chinese Family Business Summit. School of Management & Economics; BIT, Zhuhai Campus, pp. 8.

    Internationalization of Family Businesses : Evidences from Joint Venture Formations at Danfoss. / Boyd, Britta; Hollensen, Svend; Goto, Toshio.

    IFERA@China 2010 Family Business Forum: 1st Chinese Family Business Summit. School of Management & Economics; BIT, Zhuhai Campus, 2010. p. 8.

    Research output: Chapter in Book/Report/Conference proceedingConference abstract in proceedingsResearchpeer-review

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    N2 - This article focuses on the international joint venture formation process of family businesses. The reasoning behind Danfoss’ decision to cooperate with two competing family businesses in Japan and China as well as two nonfamily businesses in Canada and Britain will be analysed. In-depth qualitative interviews reveal the driving forces on both sides and show how the psychic distance can be reduced between the different parent firms including the joint venture (JV) child. The purpose of this study is to compare equal split or equity joint ventures of non-family and family firms regarding the formation process including competences and cultures. The study indicates what core competences of a family business matter when cooperating in equal split joint ventures. Implications for family business owners and ideas for future research are discussed.

    AB - This article focuses on the international joint venture formation process of family businesses. The reasoning behind Danfoss’ decision to cooperate with two competing family businesses in Japan and China as well as two nonfamily businesses in Canada and Britain will be analysed. In-depth qualitative interviews reveal the driving forces on both sides and show how the psychic distance can be reduced between the different parent firms including the joint venture (JV) child. The purpose of this study is to compare equal split or equity joint ventures of non-family and family firms regarding the formation process including competences and cultures. The study indicates what core competences of a family business matter when cooperating in equal split joint ventures. Implications for family business owners and ideas for future research are discussed.

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    Boyd B, Hollensen S, Goto T. Internationalization of Family Businesses: Evidences from Joint Venture Formations at Danfoss. In IFERA@China 2010 Family Business Forum: 1st Chinese Family Business Summit. School of Management & Economics; BIT, Zhuhai Campus. 2010. p. 8