Abstract
Despite the global prevalence of joint ventures (JVs), research has yet to specifically explore the uniqueness of JV governance structures and processes and the impact they have on value creation. Addressing this gap in the literature, this study diverges from traditional theories of governance and draws on stakeholder theory to develop a model of JV value creation, which involves: governance factors, collective satisfaction, interaction and exchange, value drivers, and knowledge management systems. The model and associated propositions are developed so as to: 1) better describe the unique governance structures and processes of JVs, 2) develop theory that better explains these processes and the value created by JVs (e.g., physical goods and services, esteem, innovation), 3) demonstrate the importance of collaborative knowledge management systems in these processes, and 4) propel governance research forward by addressing this unique context.
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