Joint ventures vs. Non‐joint ventures: An empirical investigation

David H. Kent

Strategic Management Journal, 1991, vol. 12, issue 5, 387-393

Abstract: This paper describes a longitudinal empirical study comparing joint ventures and non‐joint ventures in the petroleum industry as they compete for oil and gas leases. Results indicate that, while enjoying a significant advantage in market power, joint ventures do not perform any better than non‐joint ventures at identifying potentially productive leases. Because of the higher payments made for these leases, the overall performance of joint ventures is significantly lower than that of non‐joint ventures.

Date: 1991
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