Why are some International Joint Ventures a Success whereas others are a Failure?

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The paper explores critical factors influencing the success or failure of International Joint Ventures (IJVs), highlighting two main clusters: internal and external environments. Internal factors include partner attributes, trust levels, governance, and leadership dynamics. In contrast, external factors encompass country-specific, industry-specific, and global conditions. The interplay between these factors significantly impacts IJV performance, ultimately determining its success or failure.