We re-examine foreign investment risk-mitigating effects of firm experience and equity stakes using an empirical context largely ignored by international business (IB) research: project investment companies (PICs). PICs permit cleaner separation of individual investment project risk from the...

Research grounded in the behavioral theory of the firm (BTF) has elaborated on the role slack plays in supporting efforts to innovate in firms, but the BTF fails to account for moderating effects that national corporate governance institutions (NCGIs) may have on this firm-level relationship...