Toward Validation of Partner Goal Achievement as a Measure of Joint Venture Performance

The increased use of joint ventures in highly competitive environments has spurred a dramatic increase in academic research activity on this synergistic strategy. However, in the absence of a theory of joint venture performance, researchers have used a variety of performance indicators without addressing how these surrogate measures relate to each other. This field study tests the relationships among the three most popular joint venture performance measures — managerial assessment, joint venture duration, and joint venture survival. A derived model is provided which suggests that partner satisfaction with the joint venture experience is principally determined by partner goal achievement. The implication for business practice is that measures of joint venture performance that emphasize duration and prioritize survival over managerial assessment can be abandoned in favor of attention to partner goal achievement.