#4937. Unravelling the role of guanxi in the formation and management of international joint ventures – a systematic review of the literature

August 2026publication date
Proposal available till 02-06-2025
4 total number of authors per manuscript0 $

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Journal’s subject area:
Business and International Management;
Strategy and Management;
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Abstract:
The formation of international joint ventures (IJVs) is one of the prevalent approaches for Western companies to conduct business in China. Yet, doing business in China is difficult for many firms, partially because of the institutional voids that are created by weak formal institutions. The paper aims to focus on the role of guanxi (an informal institution and a company capability that fills such institutional void) in the formation and management of IJVs. A systematic literature review on the role of guanxi in IJV formation and management is conducted based on papers published in top international business journals between 20XX and 20XX – in total, 47 papers are included in the review. The findings of the study are presented in four themes, namely, the role of guanxi as social capital in IJV formation, the role of trust in guanxi-based IJVs, the role of control mechanisms in balancing high reliance on trust in guanxi-based IJVs and the role of guanxi in managing inconsistencies in the regulatory environment. This approach allows for providing more nuanced view of the role of guanxi in the formation and management of IJVs and aligns more closely with managerial decision-making.
Keywords:
Business practices; China; Control; Guanxi; Institutional voids; Trust

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