Research trend of joint ventures in construction: a two-decade taxonomic review

• Published in: Journal of facilities management 2014-04, Vol.12 (2), p.118-141
• Main Authors: Hong, Yuming, W.M. Chan, Daniel
• Format: Article
• Language: English
• Subjects: Agreements; Alliances; Civil engineering; Construction contracts; Construction industry; Decision making; Joint ventures; Property management & built environment; Real estate & property; Risk assessment; Studies; Success; SWOT analysis
• ISSN: 1472-5967; 1741-0983
• DOI: 10.1108/JFM-04-2013-0022

Purpose – This paper aims to systematically and critically explore the research trend of construction joint ventures (CJVs) in some selected leading construction journals over the past two decades between 1993 and 2012. It is also expected that some valuable insights into the extended application of JVs to facilities service management and maintenance could be generated from the research findings. Design/methodology/approach – A powerful search engine “Scopus” was selected to identify those journals that have published CJV-related articles. The papers related to CJVs, as retrieved from the selected journals, were first classified based on their relevance to CJV study and were then analyzed in terms of the annual number of CJV-related publications, research focus of CJV studies and the applied research methods and techniques. Future research directions are suggested to enrich and add value to the extant literature about CJVs. Findings – An apparent increasing trend of research on CJVs has been witnessed over the past two decades. A critical analysis of the two-decade research outputs indicated that research topics of CJVs published in the selected journals consist of several key areas: theory and model development; motives, benefits and other strategic demands of application; performance measurement or management; risk assessment or management; influential factors for practice; problematic issues and challenges in practice; and managerial practices of CJVs in the industry. This study also identified that the research methods employed in CJV studies are predominantly questionnaire survey, case study, literature review/analysis, and interview. Research techniques applied in CJV studies were classified into seven main groups, with rank-order analysis, structural equation modelling and regression analysis being the three mostly adopted analytical tools. Research limitations/implications – The critical review of CJV literature reveals several inherent limitations of the existing research and practices of CJVs, The research findings also help visualize future research directions associated with the identification of barriers to the adoption and successful operation of CJVs, investigation of the appropriateness and effectiveness of CJV contracting strategies, and exploration into possible strategies for improving the industrial applications in future. Originality/value – Joint ventures have been extensively used in the construction sector, which calls for the need