International joint venture acquisition by a foreign or local partner

Managing on international joint venture post-formation is a critical decision for both foreign and local managers. Reviewing the literature in international and strategic management, the authors discuss recent findings of research on international joint venture acquisition by a foreign or local partner over the past 15 years. In doing so, the authors provide an in-depth review of theoretical foundation of IJV acquisition by one of the partners, the dominant determinants and a framework of research on IJV acquisition by a foreign or local partner. This proposed framework groups eight determinants and integrates the antecedents of IJV formation - described by complementary assets between partners and previous experience of a foreign and local partner, initial IJV characteristics influence - described by ownership structure, control and bargaining power, shifts of IJV characteristics - by three previous determinants and IJV performance, moderators - uncertainty, learning and new experience influences, and the decision of IJV acquisition by one of the partners. As a conclusion, the authors provide several recommendations for future research.