Abstract We present a simple multiple equilibria model that incorporates the functioning of crony capitalism. We find that a government which is keen to support the interests of the élite is ready to stand the risk of a bank run since this is part of an equilibrium where investments are heavily...

Purpose The Renewable Energy Directive 2009/28/EC of the European Union provides another element to cross-border cooperation by allowing Member States to fulfill their 2020 renewable energy sources (RES) targets by implementing joint projects in third countries through the cooperation...

Purpose – Whilst earlier studies of market entry success factors have mostly focused on large emerging markets such as China or India, limited attention has been given to smaller emerging markets. The purpose of this paper is to identify the effects of firm-level (i.e. entry mode and firm...

Purpose – Many foreign firms have made their initial public offering (IPO) debuts in the USA, without first being listed in their home market. The purpose of this paper is to investigate the association of a wide range of country risk measures with the valuation of foreign IPOs....

Purpose – This study aims to examine the factors affecting the foreign direct investment (FDI) and foreign portfolio investment (FPI) flows among the 16 economies comprising the Middle East and North African (MENA) region. Design/methodology/approach – Panel data for the period 1984-2012 are...