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International Joint Ventures (IJVs) have been in a central role of global expansion by several companies [64]. IJVs are formed between two or more firms with different organizational and cultural characteristics. There are several advantages related to the IJV entry mode like the possibility for the local and parent firms to exploit complementary resources, innovative capacities and core competencies (e.g. [17], [22], [35], [37], [45], [49], [52]). IJVs are superior when firms face uncertainty about the foreign market and future development or when information is inadequate [1]. Therefore IJVs are often used as a market entry approach by developed countries aiming to enter emerging markets where foreign firms usually face an uncertainty in economic and opportunistic behaviours. In spite of the high popularity of IJVs especially in emerging markets results in several studies have indicated that the goals set for the IJVs have not been reached and that there has been high rates of instability and failures in IJV operations [4], [24], [26], [57]. Thus there has been growing interest to study in more details the performance of IJVs and to study the key factors and drivers behind successful and unsuccessful IJVs. When it comes to China IJVs have been rapidly proliferating in China in the last three decades since China adopted an open door policy to attract foreign investments in 1978. In addition to wholly foreign-owned firms, equity joint venture is a major mode of business operation [13]. According to U.S.-China Business Council [65], Foreign Direct Investment (FDI) in China totalled $82.7 billion by 2007 with a total of 37,888 new foreign invested firms. In recent years China has been popular among Nordic firms because of their limited domestic market and China’s over 1.3 billion potential consumers together with the outstanding economic performance. However, many IJVs experience significant problems in China due to its complicated and difficult environment [8]. Therefore it is necessary to look into these problems, find solutions and identify key success factors for IJVs in China. In the literature the research on SinoForeign IJVs has been clearly growing, but the results have been partly mixed and the studies have mainly focused on the IJV operations by Asian, especially Taiwan-based firms. Many studies also focused on IJVs with parent firms coming from big Western countries such as the USA. However, research focusing on IJV (and FDIs) by firms from smaller developed European economies like from Nordic countries, has been extremely limited so far. Furthermore, as in the decade award winning article of Journal of International Business Studies (JIBS) Madhok [51] argues that most existing research on IJV performance tends to focus on a few single factors such as ownership and a shift of focus to case studies to examine relational dynamics is encouraged. In this study we will use nine Finnish-Chinese IJVs to do detailed case studies to identify key factors for IJV success. Therefore this study contributes to the existing IJV literature by attempting to identify key success factors in Finnish-Chinese IJVs IDENTIFYING KEY SUCCESS FACTORS FOR INTERNATIONAL JOINT VENTURES IN CHINA: A FOREIGN PARENT PERSPECTIVE FROM FINNISH FIRMS

Identifying key success factors for international joint ventures in China: a foreign parent perspective from finnish firms