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This study reports the mechanics, problems and contributions of international strategic alliances involving 22 Australian universities. The findings suggest that the majority of Australian universities have a framework for internationalisation initiatives, with top university management being instrumental in initiating joint ventures with overseas institutions even though inadequate resources are provided especially at the pre‐negotiation and implementation phases of the partnership. Our study shows that Australian universities believe they bring to the partnership high quality higher education and reputable credentials while their overseas partners’ major contributions include financial resources and market opportunities.

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