| Joint Ventures (JVs) in China developed rapidly over the past several decades. Now, China has approved more than 500,000 JVs, the investment capital equals around 51% of the total FDI accordingly. The management of JV is complicated and has to take high risks. At the same time, more and more Chinese firms commence internationalization strategies, but just a few of them can make profit. One important reason is not attaching enough importance to the problem of cross-cultural management. In the field of JVs research, most achievements base on the JVs founded before 1996 because of the lack of data. According to the JVs database from 1979 to 2005 collected by us, the characteristics of JVs development and distribution are included; the empirical researches on the antecedent and effects of equity structure and cultural difference are carried out. Followings are the main research findings.Firstly, building on transaction cost theory, bargaining power theory, etc., with the data of JVs in mainland China from 1993 to 2005, the author extends research into the factors of the JVs' equity structure. The correlation and regression analysis reveals that: cultural distance, duration and investment scale positively influence foreign ownership; JVs located in coastal cities have higher percent in foreign ownership; JVs in service industry have higher foreign ownership than JVs in manufacturing industry. Based on data of Hofstede' cultural dimensions, the correlation analysis reveals that: culture distances under 5 dimensions are strongly related with equity structure.Secondly, previous study shows that equity structure and cultural difference are important factors that influencing the performance of JVs. Based on the JVs contract database and Import/Export ranking database collected by us, the analysis shows that the performance of monopoly solely controlled JVs is better than others under the domestic market situation. However, cultural difference is not the hindering factor to performance; in fact, heterogeneity provides JVs with better outcomes. Based on grouped data samples, it is revealed that the higher the ratio of Chinese equity in JVs is, the better the export performance will be led. However, the relation between foreign equity and import orientation is not obvious.Thirdly, JV has complicated equity structure, which has further affected its performance trend of corporate social responsibility. Based on the national economic census data, JVs composed by stated-owned equity and oversea-invested equity were collected. Performance evaluation model of corporate social responsibility is established from the perspectives of benefits of the society, stockholder and employee. Empirical result shows that: The higher ratio of foreign equity in JV firms is, the more efficient to protect the benefits of stockholder and employee is, with not significant intention in protecting the social benefits. The above conclusion will be very useful to improve the performance of corporate social responsibility of Chinese firms.Fourthly, selection of entry mode is an important decision during internation -alization of Chinese firms. To satisfy its need of learning technology, Chinese firms always use the purchasing mode when entering the technological advanced countries. In this paper, the related literature is reviewed, and the problems in the mode above are summarized, and the ECKT model is set up. Using the case of BOE group purchasing HYDIS Company, the mutual strategic motivation and evolution of confliction is explained, and some typical events are summarized out. Based all above, the effect of cultural conflict and knowledge integration upon purchasing process is analyzed, and the importance of low-risk entry mode based on dynamic perspective is raised up.To summarize, this study has its practical significance in improving JVs' performance and in dealing with entry mode selection and cross-culture management problems when Chinese firms are in internationalization strategy process.
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