Essay of joint ventures as a popular form of globalisation
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The formation of international joint ventures has taken place at an unprecedented rate over the last two decades. Particularly within the context of developing nations, joint ventures have been predominantly preferred by multinationals over other types of strategic alliances. This article seeks to contribute to the comparative analysis of international joint ventures, including firms from developing countries, by conducting a detailed examination of the joint ventures established in Turkey during the 1990s. Particular focus is given on the structure, the reasons for venture formation, and the performance characteristics of these joint ventures. An analysis of foreign capital flows and joint ventures based on secondary research is coupled with an empirical analysis of 34 manufacturing joint ventures in Turkey. The findings are compared to previous studies of joint ventures in other developed and developing market economies.