The role of corporate governance in the success of international joint ventures

 Corporate governance is one of the key success factors (KSFs) of international joint ventures (IJVs) as one of the most common types of the strategies which is being using by the companies that intend to operate internationally. In spite of the importance of this key success factors, the lack of a research which determined How corporate governance will improve the performance and productivity of international joint ventures, and recognized how it will lead to innovative performance on them. The reason of such this research gap is because of this perspective which the findings of the general researches in the field of corporate governance, can be extended to the international joint ventures structure as new firm as well. But, because of complex nature of these entities, the extension of the findings of other types of organizational structures to international joint ventures type is not accurate extension. Therefore, this article intends to recognize the factors which have effect on improve the performance and productivity of international joint ventures and determined how these factors will lead to innovative performance on them. 

The systematic literature review is research method. Thus, the related literature was systematically reviewed over a period of one year (from September 2018 to September 2019) from the on-line databases such as Sage, Elsevier, Springer, Willy and etc. In the first step, while determining and specifying the subject of study, the research questions were developed in accordance with the research design. In the next step, the research protocol was designed and an appropriate mental model was designed accordingly based on PICOC model which consist of Population, Intervention, Comparison, Outcome, and Context. Subsequently, inclusion and exclusion criteria were determined. Accordingly, the comprehensive and systematic search began within the literature and 400 studies were considered. After classification, screening, and measurement of their quality (methodological assessment based on Caldwell's proposed method), 60 studies were finally examined in depth (through a detailed review of their abstracts, introduction, methodology, and results) and the required data were collected. Then, in the last step, the obtained data were classified, codified (using open coding method through Excel software) synthesized and finally summarized. 

Three factors manifested in the cooperation agreement and affecting productivity and performance, and five factors that directly affect governance in the success of international joint ventures. In other words, corporate governance and its related factors play a critical role in the success of international joint ventures. 

According to the diversity of detected factors, it can be concluded that corporate governance play critical role on the success of the international joint ventures and international joint ventures are a complex organizational structure and multi-dimensional concept which cannot be undermined and treated like other types of organizations. Thus, results can be as a guide to any types of mutual collaborations especially to the international joint ventures because of its unique and complex nature.