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Forecasting the success of International Joint Ventures
in INFORMS Advances in Decision Analysis, Helsinki-Espoo, Finland, July 10-12, 2024 INFORMS 2024
A joint venture is a business partnership where two or more companies work together on a specific project, sharing resources and risks. Each company keeps its own identity while collaborating to achieve a common goal. Partner selection can be defined as the process of seeking, evaluating, and finally choosing the right partner to achieve the firm’s strategic growth objectives in a specific host country. Country Governance is defined as the traditions and institutions by which authority in a
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country is exercised. There are six dimensions of governance are constructed based on this definition; Voice and Accountability (VA), Political Stability (PV), Government Effectiveness (GE), Regulatory Quality (RQ), Rule of Law (RL) and Control of Corruption (CC).
In an increasingly globalized world, firms aiming to stay competitive in international business must explore foreign markets and many multinational enterprises (MNEs) from developed countries use
Ventures (IJVs) with local partners rather than wholly-owned subsidiaries (WOSs) to enhance the success of their international endeavours and reduce the risk of failure. This study focuses on analysing how weak country governance influences the criteria MNEs use to select local partners and develops a forecasting model for Forecasting the success of International Joint Ventures.
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