South African Journal of Economic and Management Sciences
versión On-line ISSN 2222-3436
versión impresa ISSN 1015-8812
LOPEZ-PEREZ, Maria Victoria; PEREZ-LOPEZ, Maria Carmen y RODRIGUEZ-ARIZA, Lazaro. Ownership governance and performance in Spanish-Moroccan joint ventures. S. Afr. j. econ. manag. sci. [online]. 2013, vol.16, n.3, pp.231-243. ISSN 2222-3436.
This paper analyses the impact of ownership on performance by SMEs formed as Spanish-Moroccan international joint ventures (IJVs). In such SMEs, the functions and persons involved at different levels of governance - ownership, board and managers - often overlap. The results obtained from 210 SMEs suggest that owners often exert control by participating in the other mechanisms of governance. Their participation as members of the board has a positive influence on performance and thus the success of the IJV, but when owners form part of the management team (a less frequent situation), the influence on performance is negative and not significant. Participation by owners in the management team is not associated with the IJV's performance.
Palabras clave : international Joint ventures; SMEs; corporate governance; ownership; performance.