International joint ventures in West Africa: source of funding and barriers to finance

Agyenim Boateng; Akamavi Raphael; Roger Henderson

International joint ventures in West Africa: source of funding and barriers to finance

Agyenim Boateng, Akamavi Raphael, Roger Henderson

Research output: Contribution to journal › Article › peer-review

Abstract

This paper examines the sources of funds and barriers to finance of international joint ventures (IJVs) in West Africa. A sample of 57 IJVs based in Ghana and Nigeria is examined. The findings suggest a pronounced tendency to finance IJVs through equity contributions from the partners and to rely on borrowing and retained profits to finance future growth. The study also finds that size of capital required to form an IJV and the organisational type of the host partner are not independent. Exchange risk, poor infrastructure, political instability and transfer risks are found to be the major barriers to finance of IJVs in Ghana and Nigeria.

Original language	English
Pages (from-to)	59-71
Number of pages	13
Journal	International Journal of Business Studies
Volume	10
Issue number	1
Publication status	Published - Jun 2002

Keywords

joint ventures
international business
Ghana
Nigeria

Documents and Links

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Boateng, A., Raphael, A., & Henderson, R. (2002). International joint ventures in West Africa: source of funding and barriers to finance. International Journal of Business Studies, 10(1), 59-71. http://web.a.ebscohost.com/abstract?direct=true&profile=ehost&scope=site&authtype=crawler&jrnl=13207156&AN=8604485&h=2T85v8%2fNJO0%2bppg%2fzYj2jWDImB7qs1W422WmVH1XEuYE8FR8HDDRvAPQ%2fceKIzyOGDjyC0wL1Jx5uV%2f2Lz9Rzw%3d%3d&crl=f&resultNs=AdminWebAuth&resultLocal=ErrCrlNotAuth&crlhashurl=login.aspx%3fdirect%3dtrue%26profile%3dehost%26scope%3dsite%26authtype%3dcrawler%26jrnl%3d13207156%26AN%3d8604485

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abstract = "This paper examines the sources of funds and barriers to finance of international joint ventures (IJVs) in West Africa. A sample of 57 IJVs based in Ghana and Nigeria is examined. The findings suggest a pronounced tendency to finance IJVs through equity contributions from the partners and to rely on borrowing and retained profits to finance future growth. The study also finds that size of capital required to form an IJV and the organisational type of the host partner are not independent. Exchange risk, poor infrastructure, political instability and transfer risks are found to be the major barriers to finance of IJVs in Ghana and Nigeria.",

keywords = "joint ventures, international business, Ghana, Nigeria",

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language = "English",

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journal = "International Journal of Business Studies",

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Boateng, A, Raphael, A & Henderson, R 2002, 'International joint ventures in West Africa: source of funding and barriers to finance', International Journal of Business Studies, vol. 10, no. 1, pp. 59-71. <http://web.a.ebscohost.com/abstract?direct=true&profile=ehost&scope=site&authtype=crawler&jrnl=13207156&AN=8604485&h=2T85v8%2fNJO0%2bppg%2fzYj2jWDImB7qs1W422WmVH1XEuYE8FR8HDDRvAPQ%2fceKIzyOGDjyC0wL1Jx5uV%2f2Lz9Rzw%3d%3d&crl=f&resultNs=AdminWebAuth&resultLocal=ErrCrlNotAuth&crlhashurl=login.aspx%3fdirect%3dtrue%26profile%3dehost%26scope%3dsite%26authtype%3dcrawler%26jrnl%3d13207156%26AN%3d8604485>

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N2 - This paper examines the sources of funds and barriers to finance of international joint ventures (IJVs) in West Africa. A sample of 57 IJVs based in Ghana and Nigeria is examined. The findings suggest a pronounced tendency to finance IJVs through equity contributions from the partners and to rely on borrowing and retained profits to finance future growth. The study also finds that size of capital required to form an IJV and the organisational type of the host partner are not independent. Exchange risk, poor infrastructure, political instability and transfer risks are found to be the major barriers to finance of IJVs in Ghana and Nigeria.

AB - This paper examines the sources of funds and barriers to finance of international joint ventures (IJVs) in West Africa. A sample of 57 IJVs based in Ghana and Nigeria is examined. The findings suggest a pronounced tendency to finance IJVs through equity contributions from the partners and to rely on borrowing and retained profits to finance future growth. The study also finds that size of capital required to form an IJV and the organisational type of the host partner are not independent. Exchange risk, poor infrastructure, political instability and transfer risks are found to be the major barriers to finance of IJVs in Ghana and Nigeria.

KW - joint ventures

KW - international business

KW - Ghana

KW - Nigeria

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JO - International Journal of Business Studies

JF - International Journal of Business Studies

SN - 2580-0132

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