The creation of a sound market environment requires an understanding of how a host country's economic, socio-cultural and political institutions influence a firm's governance. This book discusses the choices faced by most international firms: Should they implement their own strategic and financial control, or should they relinquish equity authority to host country managers? Should market orientation depend on an international branding approach or should it be focused on local market conditions? Should the development of organizational culture, learning and governance adhere to corporate standards or be developed with local conditions in mind? Based on research into 1000 international strategic alliances in mainland China, this book offers new academic perspectives and insights into strategic alliances, corporate investment and governance in transitional economies.