There has been, over the years, considerable research investigating such central issues to international joint ventures (IJV) as the economics of participation, the choice of IJV partners, possible strategies, and the net benefits to participants (e.g., Chadee & Qiu, 2001; Gibbons, 1996; Isobe, Makino, & Montgomery, 2000; Li, Lam & Qian, 2001; Luo, 1995; Martinsons & Tseng, 1995; Merchant & Schendel, 2000; Parkhe, 1993; Steensma & Lyles, 2000; Yan & Gray, 1994, 2001). Many of these studies focus on IJVs in China. It is apparent that China's transitional economy has created a tremendous opportunity for international firms, and the IJV has become a popular mode of foreign direct investment (FDI) in China. On the other hand, successfully managing IJVs remains a major challenge for all
The authors wish to acknowledge the valuable contribution to field work in China of Zhejiang University of Technology and of interviewees across most perspectives on IJVs.