A great deal of research has been undertaken to identify the factors affecting the success, failure, performance and stability of international equity joint ventures (EJVs) (see, for example, Beamish and Killing, 1996 for a review). Most of these studies, however, are static in nature. Although some scholars advocate a more dynamic approach to EJV research (for example, Parkhe, 1993; Stafford, 1995), to date only limited work has been done in this direction (Ring and van de Ven, 1994; Madhok, 1995a; Spekman et al., 1996; Ariño and de la Torre, 1996).
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