Joint ventures help in understanding a country's competitive conditions, culture, language, political system and business systems.
Generally speaking, shared ownership, shared returns and risks, and shared governance are the characteristics of a joint venture (JV), a business entity formed by two or more parties. Joint ventures are typically pursued by businesses for one of four reasons: to gain access to a new market, particularly an emerging market; to achieve scale efficiencies by combining assets and operations; to share risk for significant investments or projects; or to gain access to skills and capabilities. Research by Reuer and Lieblein refuted the idea that joint ventures reduce downside risk.
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