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Relational Capital and Performance of International Joint Ventures in Vietnam

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  • Lai Xuan Thuy
  • Truong Quang

Abstract

Relational capital (RC), which is defined as mutual trust, respect, understanding, and close friendship between individuals in a business partnership, is one of the foremost important elements of the international joint venture (IJV) relationship. However, only relatively few researchers have hitherto attempted to measure this concept or its antecedents and consequences on joint ventures (JVs). This article examines the links between RC and relational factors, such as inter-partner flexibility, cultural sensitivity, goal clarity, information exchange and conflict management, and how RC contributes to performance of the IJVs in Vietnam. Based on an extensive questionnaire survey, the study found significant relationships between these relational factors and RC and between RC and performance of the IJVs. The findings suggest that investment in RC between partners is critical for the success of the IJV. In this regard, this research highlights the mediating roles of inter-partner flexibility, goal clarity, and conflict management.

Suggested Citation

  • Lai Xuan Thuy & Truong Quang, 2005. "Relational Capital and Performance of International Joint Ventures in Vietnam," Asia Pacific Business Review, Taylor & Francis Journals, vol. 11(3), pages 389-410, September.
    • Handle: RePEc:taf:apbizr:v:11:y:2005:i:3:p:389-410
    DOI: 10.1080/13602380500068532
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    Cited by:

    1. Globerman, Steven & Nielsen, Bo Bernhard, 2007. "Equity versus non-equity international strategic alliances involving Danish firms: An empirical investigation of the relative importance of partner and host country determinants," Journal of International Management, Elsevier, vol. 13(4), pages 449-471, December.
    2. Wu Zhan & Roger Chen & M. Erramilli & Duc Nguyen, 2009. "Acquisition of organizational capabilities and competitive advantage of IJVs in transition economies: The case of Vietnam," Asia Pacific Journal of Management, Springer, vol. 26(2), pages 285-308, June.
    3. Bidault, Francis & de la Torre, José R. & Zanakis, Stelios H. & Ring, Peter Smith, 2018. "Willingness to rely on trust in global business collaborations: Context vs. demography," Journal of World Business, Elsevier, vol. 53(3), pages 373-391.
    4. Zolin, Roxanne & Kuckertz, Andreas & Kautonen, Teemu, 2011. "Human resource flexibility and strong ties in entrepreneurial teams," Journal of Business Research, Elsevier, vol. 64(10), pages 1097-1103, October.
    5. Chiao, Yu-Ching & Yu, Chwo-Ming Joseph & Peng, Ju-Tzu Ann, 2009. "Partner nationality, market-focus and IJV performance: A contingent approach," Journal of World Business, Elsevier, vol. 44(3), pages 238-249, July.

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