It is well documented that firms develop nonmarket strategies in an effort to shape public policy changes to their advantage. But are there no limits to this? This paper argues that there is, in fact, an important limitation, internal to the firm, that stems from the necessity for firms to...

To what extent should public utilities regulation be expected to converge across countries? When it occurs, will regulatory convergence lead to positive outcomes for utility sectors? This paper attempts to provide new answers to these questions. Building on the core proposition of the New...

Building on a framework that assesses the attractiveness of ‘political markets’ – where firms transact over public policies with government policy-makers – we develop hypotheses regarding the success or performance of firms’ nonmarket strategies. We propose that the ability of firms to...

Previous studies have shown that regulated firms diversify for reasons that are different than for unregulated firms. We explore some of these differences by providing a theoretical model that starts by considering the firm-regulator relationship as an incomplete information issue, in which a...

To what extent should public utilities regulation be expected to converge across countries? When it occurs, will it generate good outcomes? Building on the core proposition of the New Institutional Economics that similar regulations generate different outcomes depending on their fit with the...

To what extent should public utilities regulation be expected to converge across countries? When it occurs, will it generate good outcomes? Building on the core proposition of the New Institutional Economics that similar regulations generate different outcomes depending on their fit with the...

This paper considers the impact of privatization on corporate entrepreneurship. The proposed model illustrates how a firm's capacity to implement internal changes is influenced by three factors: credibility of the privatization process, speed of the process, and the new regulatory environment....

Previous studies have shown that regulated firms tend to diversify for different reasons than unregulated ones. This is the case for product but also for geographical diversification, i.e. international expansion. The logic generally advanced is that regulated firms tend to diversify when they...