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Government Intervention in the Venezuelan Petroleum Industry: An Empirical Investigation of Political Risk

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  • Mona Verma Makhija

    (University of Pittsburgh)

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    Abstract

    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 conceptual model of political risk based on the premise that host government intervention is related to specific objectives of the government vis-à-vis multinational firms. Information reflecting the attainment of objectives motivates the government to intervene in a given manner. The application of this model to the case of the Venezuelan petroleum industry from years 1947 to 1976 provides some support for this model and gives insight into the timing of specific types of intervention.© 1993 JIBS. Journal of International Business Studies (1993) 24, 531–555

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    Bibliographic Info

    Article provided by Palgrave Macmillan in its journal Journal of International Business Studies.

    Volume (Year): 24 (1993)
    Issue (Month): 3 (September)
    Pages: 531-555

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    Handle: RePEc:pal:jintbs:v:24:y:1993:i:3:p:531-555

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    Cited by:
    1. Charles Stevens & Joseph Cooper, 2010. "A behavioral theory of governments’ ability to make credible commitments to firms: The case of the East Asian paradox," Asia Pacific Journal of Management, Springer, Springer, vol. 27(4), pages 587-610, December.
    2. Elizabeth Asiedu & Yi Jin & Boaz Nandwa, 2009. "Does Foreign Aid Mitigate the Adverse Effect of Expropriation Risk on Foreign Direct Investment?," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS, University of Kansas, Department of Economics 200905, University of Kansas, Department of Economics.
    3. Andrei Panibratov & Cyril Verba, 2011. "Russian Banking Sector: Key Points of International Expansion," Organizations and Markets in Emerging Economies, Faculty of Economics, Vilnius University, vol. 2(1).
    4. Dikova, Desislava & Smeets, Roger & Garretsen, Harry & Van Ees, Hans, 2013. "Immediate responses to financial crises: A focus on US MNE subsidiaries," International Business Review, Elsevier, Elsevier, vol. 22(1), pages 202-215.
    5. Thomas, Douglas E. & Grosse, Robert, 2001. "Country-of-origin determinants of foreign direct investment in an emerging market: the case of Mexico," Journal of International Management, Elsevier, Elsevier, vol. 7(1), pages 59-79.
    6. Hadjikhani, Amjad & Ghauri, Pervez N., 2001. "The behaviour of international firms in socio-political environments in the European Union," Journal of Business Research, Elsevier, Elsevier, vol. 52(3), pages 263-275, June.
    7. Seung-Hyun Lee & Sungjin Hong, 2012. "Corruption and subsidiary profitability: US MNC subsidiaries in the Asia Pacific region," Asia Pacific Journal of Management, Springer, Springer, vol. 29(4), pages 949-964, December.
    8. Lee, Joong-Woo & Abosag, Ibrahim & Kwak, Jooyoung, 2012. "The role of networking and commitment in foreign market entry process: Multinational corporations in the Chinese automobile industry," International Business Review, Elsevier, Elsevier, vol. 21(1), pages 27-39.

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