“…Foreign firms adopting transnational strategy attempt to gain global competitiveness rather than focusing on a single market or region. IJVs significantly contribute in the achievement of global competitiveness for foreign firms pursuing transnational strategy (Gugler, 1992;Hynes & Mollenkopf, 2008) and allows foreign partner to depend upon the domestic firm for local resources (Lee, Chen, & Kao, 1998;Madhok & Tallman, 1998), network (Goerzen, 2007;Kemp & Ghauri, 2008;Parameswar, Singh, Malik, & Dhir, 2018;Shrotriya & Dhir, 2018) and knowledge (Culpan, 2008;Park, Vertinsky, & Becerra, 2015) and also act as a source to gain location-specific and transaction-specific assets (Das & Teng, 2000a;Hennart, 1988;Kogut, 1988). In case of transnational strategy, the domestic firm plays a dual role in IJV by contributing resources as well as extending support to minimize capital investment to control cost.…”