| This paper studies the Joint ventures between Chinese seed listed firms and multinational seed companies, taking Shandong Denghai-Pioneer Seeds Co., Ltd.(hereafter referred to as "Denghai-Pioneer") and Dunhuang Seed-Pioneer Hi-Bred Co., Ltd.(hereafter referred to as "Dunhuang-Pioneer") to be the objects.The author reviews several related theoretical foundations of the performance analysis for seed joint ventures, including international trade theory, organization economics and the theory of financial analysis. Combined with the systemic respective and target mode of performance evaluation for IJVs, this thesis builds up its own index system for evaluating the performance of sino-foreign joint seed firms. Concretely, the index system is composed of two particular performance perspectives that are operating performance and innovation performance. More accurately, operating performance index includes profit level and market performance, and innovation performance index includes product innovation and management innovation.By using the index system enumerated above to do the performance analysis, this thesis derives a comprehensive evaluation of the sino-foreign joint seed firms’ performance.Denghai-Pioneer and Dunhuang-Pioneer are both qualified in operating performance but failed in product innovation. Denghai-Pioneer’s Chinese parent company drew lessons from its management innovation and made a good change in profit level. Dunhuang-Pioneer’s Chinese parent company demands to improve its operating performance and strengthen its independent R&D.There are other problems in the Joint ventures between Chinese seed listed firms and multinational seed companies, such as the instability of profit level and the deficiency of research cooperation.For the purpose of promoting the performance level of Denghai-Pioneer and Dunhuang-Pioneer as well as their respective parent firms, the author suggests two measures. First, make an appropriate increase in the proportion ceiling of foreign seed companies’investment. Second, reinforce Chinese seed listed firms’ performance base, thus improving sino-foreign seed joint ventures’performance by enhancing the competitiveness of their parent companies. |
