Tetteh, M O; Chan, A P C; Darko, A and Nani, G (2023) Factors affecting international construction joint ventures: A systematic literature review. International Journal of Construction Management, 23(1), pp. 98-113. ISSN 1562-3599
Abstract
International construction joint ventures (ICJVs) have become an important way of exploiting business opportunities for construction companies worldwide. Yet, several barriers and risk factors contribute to their failure. This study aims to identify the barrier and risk factors affecting ICJVs through the lens of a systematic review methodology. Findings from 43 peer-reviewed articles showed an increasing publication trend for the past three decades (1990–2020). The bulk of the studies were conducted in Asia and Europe, particularly China and the UK, respectively. Overall, 37 barrier factors were identified, and these fall into six categories, namely, inter-organizational differences, lack of expertise and confidence, lack of effective planning and strategies, lack of knowledge of ICJV’s fundamentals, conflicts, and management difficulties. Next, 53 risk factors were identified and grouped into six, namely, policy and political risks, legal risks, financial risks, management risks, project and technical risks, and market risks. More importantly, knowledge gaps in existing studies are highlighted and future research directions are then proposed. The list of failure factors creates a valuable frame of reference for researchers and practitioners to develop more reliable, comprehensive, and proactive management strategies for ICJVs.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | barrier factors; international construction joint ventures; literature review; risk factors |
| Index terms: | risk factor, practitioner, strategy, China, management risk, literature review, joint venture, failure factor, Asia, publication, systematic literature review, methodology, international construction, Europe, construction company, management strategy |
| Subjects: | strategic management, physical geography and landforms, Geography, research dissemination and communication, research evaluation and metrics, research methods, financial risk, environmental hazards, data analysis and analytics, regions and continents, management, organization, practitioner, business, risk assessment |
| Topics: | Cost Management, Research Practice, Sustainability, Roles and Professions, International Construction, Risk Management, Geographical Context, Information Management, Business Strategy |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here