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Measuring the performance of joint ventures has been an important research topic for a few decades. No consensus on an appropriate definition and measurement of performance of international joint ventures (IJVs) has yet emerged, and the validity of the underlying measures is still questionable. In this study, the construct validity of measures that define IJV performance in construction is evaluated using data obtained through a questionnaire survey. A second-order performance construct is proposed, which is measured by means of project performance, partner performance, performance of IJV management, and perceived satisfaction with IJV. The validity of the performance measures is evaluated by means of tests that assess content validity, reliability, and convergent and discriminant validity. The findings reveal that all proposed indicators are valid measures of IJV performance and that they correspond to different dimensions of performance. This research is expected to trigger further work on developing a multidimensional performance measure for IJVs in construction. In addition, the findings can help practitioners reflect on how they operate and measure the success of their IJVs. [ABSTRACT FROM AUTHOR]

International joint ventures (IJVs) have become popular because of their importance as a strategic alternative in global competition. The measurement of the performance of IJVs has been an important research topic for a few decades, however there is no consensus on an appropriate definition and measurement of IJV performance. In this study, a model is proposed to assess IJV performance in construction. The validity of the proposed drivers and measures of performance is investigated and relationships between them are analyzed. The effects of interpartner fit/relations, structural IJV characteristics, host country factors, and project-related factors on IJV performance are examined through a questionnaire survey. IJV performance is defined by a four-dimensional construct that considers the performance of the project, the IJV partners, the IJV organization itself, and the perceptions of the IJV partners. The results point out the significance of the interpartner fit and the quality of partner relations for a successful IJV operation. The findings of the study also suggest that project-related factors have a moderate influence on IJV performance. In a properly designed IJV structure, partners with compatible skills, resources, and cultures are found to maintain good relations and are expected to achieve greater IJV success. [ABSTRACT FROM AUTHOR]

Joint ventures have been an important research topic over the last few decades primarily because of their importance as a strategic alternative in global competition. Due to the inherent complexities of international joint ventures (IJVs), involving a mixture of different managerial systems, attitudes, and business strategies, such entities are very difficult to manage. In this study, the effect of strategic, organizational, and cultural fit between IJV partners and of interpartner relations on IJV performance is examined through a questionnaire survey. IJV performance is measured by means of two constructs: “project performance” and “performance of IJV management.” The results point out the significance of the quality of partner relations for a successful IJV operation. Findings of the study also suggest that the level of organizational fit between the partners has a moderate influence on IJV performance. It was observed that strategic fit between IJV partners affects interpartner relations extensively, which in turn affects IJV performance. IJV partners with compatible technical and managerial skills, financial resources, organizational size, workload, and project experiences are expected to achieve greater IJV success. [ABSTRACT FROM AUTHOR]