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...

Two important aspects of political risk analysis that have not received much attention in the literature are (a) the reasons why multinational firms experience different types of intervention, and (b) the timing of intervention. In order to address these issues, this research develops a...