Transaction cost theory posits that culture plays a limited role in the choice between JV and WOS. In contrast, research suggests that firms' preferred level of ownership in their foreign subsidiaries is influenced primarily by cultural traits. This study provides additional evidence in this...

The international joint venture (JV) literature has focused on two parent JVs formed between one foreign and one local firm. Yet, other types of JVs exist. This paper iddentifies four distinct forms of JVs based on the JV partners' nationality and equity affiliation. These are (i) JVs that are...