6. Discussion and conclusion
Enterprises in developing countries may be limited in their ability to acquire knowledge resources since they are deprived of the benefits of knowledge spillovers because of their knowledgepoor environments. IJVs are often an important exception since they can benefit from knowledge transfers from their foreign parents. Indeed, they can provide a channel through which knowledge generated in managerially and technologically advanced countries is disseminated to developing countries. Arguably, IJVs have played an important role in facilitating knowledge transfers from technologically-advanced countries to South Korea, contributing to its exceptionally rapid transformation from a developing economy to a leading industrialized one. Though knowledge transfers result in a change in the knowledge base of the recipient firm, neither are all IJVs equally prepared to absorb all types of knowledge from their foreign partner, nor does every change in knowledge base necessarily lead to a discernible change in IJV performance. Integrating insights from strategy and learning theories, we have developed and tested a model that examines the effect of age on the transfer of explicit and tacit knowledge, and the relationship between such knowledge transfers and improved organizational performance.
