The world of multinational enterprises is changing dramatically. Their complex and dynamic international context presents them with special challenges – threatening their survival on one hand, and presenting them with unprecedented opportunities on the other. In this volume, international...

We use partisan and opportunistic political business cycle (“PBC”) considerations to develop and test a framework for explaining election-period changes in credit spreads for developing country sovereign bonds. Pre-election bond spread trends are significantly linked both to the partisan...

We use partisan and opportunistic political business cycle (“PBC”) considerations to develop a framework for explaining election-period decisions by credit rating agencies (“agencies”) publishing developing country sovereign risk-ratings (“ratings”). We test six hypotheses derived...

We empirically examine whether and how opportunistic and partisan political business cycle ("PBC") considerations explain election-period decisions by credit rating agencies ("agencies") publishing developing country sovereign risk-ratings ("ratings"). Analyses of 391 agency ratings for 19...

We question previous research assuming that privatizing firm performance benefits from decreasing state ownership and the passage of time, both of which purportedly align principle-agent incentives promoting organizational decision-making that increases shareholder value. In response, we develop...

An emerging "bonding hypothesis" holds that a firm's geographic domicile may not determine its corporate governance destiny. Firms from countries with weaker corporate governance regimes can internationalize their legal (but not necessarily operational) presence by cross-listing their securities...