Working Paper Series, Department of International Economics and Management, Copenhagen Business School
Intangible Assets, Multinational Firms and Joint Ventures: The Case of Financial Services in Developing Economies
Abstract: This note illustrates a recent empirical phenomenon, which
warrants a re-examination of the intangible asset theory of multinational
enterprises (MNEs). It analyses two case studies of financial services:
credit cards and insurance products in a developing economy. The case
studies show that in the case of joint ventures between local firms, and
MNEs in a developing economy, it is a large local bank that provides the
brand name while MNEs provide the back-end (tangible) technical-support.
The analysis also brings forth fresh insights on the issue of joint
ventures, especially in the context of financial services in an emerging
Keywords: Intangible assets; capital market imperfections; joint ventures; financial services; emerging economies; (follow links to similar papers)
14 pages, June 12, 2002
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