Reactive nano-multilayers (RNMLs), which are able to undergo a self-heating exothermal reaction, can, e.g., be utilised as a local heat source for soldering or brazing. Upon joining with RNMLs, the heat produced by the exothermal reaction must be carefully adjusted to the joining system in order to provide sufficient heat for bond formation while avoiding damaging of the joining components by excessive heat. This heat balance strongly depends on the thermal properties of the joining components: a low thermal conductivity leads to heat concentration within the joining zone adjacent to the RNML, while a high thermal conductivity leads to fast heat dissipation into the components. The quality of the joint is thus co-determined by the thermal properties of the joining components. This work provides a systematic study on the influence of the thermal properties upon reactive joining for a set of substrate materials with thermal conductivities ranging from very low to very high. In particular, the evolution of the microstructure within the joining zone as a function of the specific time-temperature-profile for the given component material is investigated, focusing on the interaction between solder, RNML foil and surface metallisations, and the associated formation of intermetallic phases. Finally, the specific microstructure of the joints is related to their mechanical performance upon shear testing, and suggestions for optimum joint design are provided.