Does distributive injustice increase the likelihood of joint venture (JV) termination? JVs display social exchange characteristics, and are, therefore, assessed not only based on economic rationale but also based on distributive justice which acts as a norm governing social exchanges. This paper draws on social exchange theory to redefine distributive justice in JVs, and explains the pathway from the emergence of distributive injustice to the eventual JV termination. We suggest that while both economic and justice considerations determine joint venture termination, they have different implications for JV termination mode. Based on a sample of 284 joint ventures formed between 1996 and 2010, we find evidence that distributive injustice increases the likelihood of termination of the JV in general, and the likelihood of acquisition of the JV, in particular.