Empirical Literature on Joint Ventures Success : a Review of Performance Measures and of Factors Affecting Longevity

This research attempts to identify trends as for findings of empirical studies on explanatory factors of joint venture (JV) success. The first part of the paper provides a list of performance criteria used in the literature and suggests a classification of the latter. The second part analyses determinants of JV longevity. It reveals that : (1) three categories of factors have a significant impact : the characteristics of the agreement, of the partners and of the environment ; (2) three explanations are given : these factors influence the potential for value-creation of the alliance, the risk of conflict and/or the difficulty in dissolving the relationship ; (3) available findings are not contradictory ; (4) no variable has an opposite effect on the probability of JV dissolution and JV acquisition ; (5) several research directions remain to be explored.