On lemons and indigestibility: resource assembly through joint ventures
重新审视了关于合资企业的两种理论视角：信息不对称观和不可消化性观，认为它们在解释合资企业的作用上是互补而非竞争的，并指出资源不可分割性会加剧信息不对称。
We revisit the relationship between two theoretical perspectives on joint ventures—the asymmetric information view and the indigestibility view. The former emphasizes the ex ante valuation challenges firms confront in combining resources, while the latter attends to ex post transaction costs arising from the extraction and integration of indivisible resources. We argue that these two views are complementary, rather than competing, in explaining the usefulness of joint ventures. We also suggest that the perspectives are overlapping inasmuch as resource indivisibility contributes to asymmetric information. Copyright © 2000 John Wiley & Sons, Ltd.