THE NATURE AND FUNCTION OF FINANCIAL REFERENCE POINTS IN JOINT VENTURES BETWEEN ANGLO-AMERICAN AND CHINESE PARTNERS

Gus M Geursen and Elaine Rodrigo
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Gus M Geursen: Faculty of Business and Economics, Monash University Caulfield, Australia
Elaine Rodrigo: Faculty of Business and Economics, Monash University Caulfield, Australia

Journal of Enterprising Culture (JEC), 1999, vol. 07, issue 01, 19-36

Abstract: This paper presents empirical research, which identifies financial reference points in Western business and joint ventures between Western and Chinese partners. The paper draws conclusions about the use, purpose and function of financial documents and reference points in this relationship. A theory is developed about differences in the perception of purpose between partners from these differing cultures. The Chinese culture appears to have little regard for the acquisition of items that can be cashed at a future time but instead value material contribution in the present. It therefore considers its assets, not in terms of exchange for material assets, but as the achievement of material goals through "Guanxi" credits.

Date: 1999
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DOI: 10.1142/S0218495899000030

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