Competitiveness Review: An International Business Journal incorporating Journal of Global Competitiveness

Purpose – The purpose of this paper is to provide a comprehensive overview of issues that are involved in forming joint ventures (JVs) as well as subsequent operation of the venture.

Design/methodology/approach – This paper looked at a wide range of literature on international joint ventures (IJVs) to analyze issues managers face during the formation and implementation of these ventures. This paper aims to provide not only avenues for further research in the area but also practical advice to managers in what they need to be aware of while deciding whether to enter an IJV.

Findings – This paper provides a comprehensive overview of the literature with respect to IJVs. Issues with formation include such topics as trust, motives for formation, control issues, and culture. An integrated framework is suggested by the author to look at a diverse range of issues together. This paper takes the small pieces of the IJV literature and connects them into a big picture to make it easier for practitioners as well as academicians to understand the complexities.

Research limitations/implications – This paper could not review all the possible relationships and variables that affect IJVs.

Practical implications – A useful source for managers who manage JVs as well as for business executives who are thinking about forming a JV with a foreign partner.

Originality/value – Although many papers have studied the issues relating to JVs, not too many have identified an integrated framework to show the relationships between the various factors that affect JVs.