This paper combines neoinstitutional theory and research on the institutional environment to explain the process of organizational entry into new geographic markets. We extend neoinstitutional theory's proposition that prior decisions and actions by other organizations provide legitimization and...

We investigate the replacement of the traditional state-centered model of electricity industry organization with a market-oriented neo-liberal model in 83 countries. We argue and find that social actors' ascription of legitimacy to an institutional replacement is central to the replacement's...

We offer a simple model of policymaking emphasizing socialization and limits on human cognition to explicate mechanisms of change in emergent (as opposed to established) institutions. Emergent institutions are more susceptible to change, and their opponents may use frames or existing reference...

This article posits that the effect of political hazards on the choice of market entry mode varies across multinational firms based on the extent to which they face expropriation hazards from their potential joint-venture partners in the host country (the level of contractual hazards). As...

The 1980s and 1990s constituted a boom period for foreign direct investment. The opening of dozens of new nations to foreign direct investment and the associated confidence in these countries' long-term growth potential led more multinational firms from more countries to undertake investment of...

Cross-national variation in institutional environments adds uncertainty to foreign operations, which in turn affects international strategy decisions such as when to enter a market, the entry mode used if entering, as well as the performance of foreign entries. Although all firms are exposed to...

We investigate the association between a wide range of environmental and social outcomes and the credit risk of municipal finance fixed income securities. Building on recent work documenting the pricing of climate risk, future opioid health care costs and race-based investor preferences at the...

This paper combines neoinstitutional theory and research on the institutional environment to explain the process of organizational entry into new geographic markets. We extend neoinstitutional theory's proposition that prior decisions and actions by other organizations provide legitimization and...

This study jointly examines the effects of organizational capabilities and public and private expropriation hazards on the level of equity ownership chosen for foreign subsidiaries in emerging markets. Specifically, we explore the mechanisms by which 660 Japanese multinational corporations draw...

We extend the stages model of internationalization to incorporate a sophisticated consideration of temporal and cross-national variation in the credibility of the policy environment. Using a sample of 6,570 international expansions of 665 Japanese manufacturing firms, we build on the concepts of...