The Choice and Timing of Foreign Market Entry Under Uncertainty |
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asset prices bargaining power CEPR Discussion Paper China cooperative JV cost of exporting cost of investment create a joint create the JV critical value denote differential taxation Dixit and Pindyck East Germany entry mode euro European Central Bank exceeds excess profits firm Foreign Direct Investment geometric Brownian motion Goswell Road host country Insert figure International Business Studies investment under uncertainty Journal of International Kogut Labour Economics licensing local partner markup MECB minimum share requirements MNE's Monitoring the European monopoly Nash equilibrium NM NM NM Non-Cooperative Joint Ventures non-cooperative JV optimal equity share optimal share optimal to create option to acquire Ownership partner perfect competition perfect information Policy Proposition result Strategic sunk cost switch from exporting tax differential trigger value uncertainty is high uncertainty is relatively undertaking FDI Universitat Pompeu Fabra value of waiting Vanhonacker wholly owned subsidiary www.cepr.org zero share