ABSTRACT
This research is based on the event study methodology developed by Fama et al. (1969).The initial announcement of a joint venture is defined as the ‘event’, while the market value is studied by examining the development of the share price. The announcements were found in the Dutch financial daily Het Financieele Dagblad. The study analyzed a sample of 233 non-financial joint ventures whose announcements met the following criteria:
The shares of at least one of the joint venture partners were being traded on
the Amsterdam Stock Exchange at the time of the announcement.
