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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)

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

Suggested Citation

  • Mona Verma Makhija, 1993. "Government Intervention in the Venezuelan Petroleum Industry: An Empirical Investigation of Political Risk," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 24(3), pages 531-555, September.
  • Handle: RePEc:pal:jintbs:v:24:y:1993:i:3:p:531-555
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    Cited by:

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    3. repec:spr:manint:v:57:y:2017:i:2:d:10.1007_s11575-016-0294-7 is not listed on IDEAS
    4. Hadjikhani, Amjad & Ghauri, Pervez N., 2001. "The behaviour of international firms in socio-political environments in the European Union," Journal of Business Research, Elsevier, vol. 52(3), pages 263-275, June.
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    7. 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).
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    9. 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, vol. 7(1), pages 59-79.
    10. Charles E. Stevens & En Xie & Mike W. Peng, 2016. "Toward a legitimacy-based view of political risk: The case of Google and Yahoo in China," Strategic Management Journal, Wiley Blackwell, vol. 37(5), pages 945-963, May.
    11. 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, vol. 21(1), pages 27-39.
    12. repec:pal:jintbs:v:49:y:2018:i:2:d:10.1057_s41267-017-0117-5 is not listed on IDEAS
    13. Seung-Hyun Lee & Sungjin Hong, 2012. "Corruption and subsidiary profitability: US MNC subsidiaries in the Asia Pacific region," Asia Pacific Journal of Management, Springer, vol. 29(4), pages 949-964, December.

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