1. RESTRUCTURING IN THE GLOBAL ECONOMY: THE CONSEQUENCES OF STRATEGIC LINKAGES BETWEEN JAPANESE AND U.S. FIRMS.
- Author
-
Hurry, Dileep
- Subjects
CORPORATE reorganizations ,STRATEGIC alliances (Business) ,BUSINESS partnerships ,PORTFOLIO management (Investments) ,INDUSTRIES ,COMPETITION ,COMPETITIVE advantage in business ,MARKET penetration - Abstract
Global corporate restructuring often involves U.S. and Japanese alliance partners in interlinked portfolio choices. This paper develops theory and propositions that study U.S. and Japanese restructuring as a process of strategic choice, and introduces the concept of the restructuring profile. Japanese-U.S. strategic linkages create choices in the form of a call option on portfolio reconfiguration for the Japanese firm, and a put option on financial restructuring for its U.S. partner. While Japanese competition forms an initiating force for U.S. restructuring, it also offers a source of capital for that purpose--a unique situation in which the Japanese firm is a part of both the problem and the solution in its U.S. partners restructuring. [ABSTRACT FROM AUTHOR]
- Published
- 1993
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