This article extends the real options view from the firm level to the societal level, by exploring how government policies facilitate entrepreneurship development. Governments can focus on generating positive externalities, as opposed to avoiding failure for individual firms. Treating the bundle...

In a departure from prior studies presuming a beneficial experience effect in foreign direct investment (FDI), the present paper examines the conditions under which FDI experience may actually harm subsequent subsidiaries. We argue that multinational enterprises (MNEs) may draw erroneous...