Political institutions and electric utility investment: a cross-nation analysis
Article Abstract:
The likelihood that a government will meet its promises varies with the structure of a nation's political institutions. Where multiple independent actors wield veto power over potential policy changes, macroeconomic, tax, and regulatory stability will be enhanced - thus reducing the variance on an investment project's expected return. This relationship is shown to hold for an industry with extremely high sunk costs and politicization, namely, electric utilities. Managers considering investment in infrastructure projects should therefore evaluate the investment proposal not only on its explicit terms, but also on the likelihood that the government will honor them. (Reprinted by permission of the publisher.)
Publication Name: California Management Review
Subject: Business, general
ISSN: 0008-1256
Year: 1998
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Legitimacy, interest group pressures and change in emergent institutions: The case of foreign investors and host country governments
Article Abstract:
A model of policy making, emphasizing socialization and limits on human cognition enhances change in emergent institutions. It is observed that emergent institutions are more susceptible to change than established institutions, broader institutional structures and specific organizational characteristics moderate pressure for change.
Publication Name: Academy of Management Review
Subject: Business, general
ISSN: 0363-7425
Year: 2005
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The Rise of Fiduciary Capitalism: How Institutional Investors Can Make Corporate America More Democratic
Article Abstract:
This book is about how institutional investors can maximize their investments on behalf of the ultimate owners of mutual funds and private and public pensions funds.
Publication Name: Academy of Management Review
Subject: Business, general
ISSN: 0363-7425
Year: 2001
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