The multi-faceted impact of host country risk on the success of private participation in infrastructure projects

IF 2.2 4区管理学 Q3 BUSINESS

Multinational Business Review Pub Date : 2021-07-05 DOI:10.1108/MBR-10-2020-0195

Alfredo Jiménez, Secil Bayraktar, J. Lee, Seong-jin Choi

引用次数: 3

Abstract

Purpose This paper aims to investigate the multi-faceted impact of host country risks on the success of private participation in infrastructure projects. The authors make a distinction between exogenous and endogenous risks, differentiating those that are completely beyond the control of the firm from those in which firms might exert some degree of influence to reduce the negative repercussions. Design/methodology/approach Drawing on logistic regression analyses, the authors analyze a sample of 10,350 private participation in infrastructure projects in 126 countries from 1997 to 2014. Findings The authors find that higher levels of exogenous risk are associated with a lower probability of project success, whereas they find no significant effect for endogenous risk. Originality/value By pointing to this differential effect, this study makes a contribution to the current debate in the literature on private participation projects.

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东道国风险对私营部门成功参与基础设施项目的多方面影响

本文旨在探讨东道国风险对私营部门成功参与基础设施项目的多方面影响。作者对外生风险和内生风险进行了区分，将那些完全超出企业控制范围的风险与那些企业可能施加一定程度影响以减少负面影响的风险区分开来。设计/方法/方法利用逻辑回归分析，作者分析了1997年至2014年126个国家10,350个私营部门参与基础设施项目的样本。研究结果作者发现，较高水平的外生风险与较低的项目成功概率相关，而他们发现对内生风险没有显著影响。独创性/价值通过指出这种差异效应，本研究为当前关于私人参与项目的文献辩论做出了贡献。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Multinational Business Review BUSINESS-

CiteScore

5.40

自引率

14.80%

发文量

期刊介绍： Multinational Business Review publishes high quality and innovative peer-review research on the strategy, organization and performance of multinational enterprise (MNE), international business history, geography of international business, and the impact of international business on economic growth and development. The journal encourages papers that are cross-disciplinary in nature, and that address new and important issues in international business. Multinational Business Review also promotes research on under-represented regions such as Africa, Central and Eastern Europe, Latin America, and South East Asia and their MNEs, as well as under-studied topics such as the role of trade, investment and other public policies. Specific topics of interest include innovation and entrepreneurship in an international context; corporate governance and ownership; social, environmental and political risk; the role of multilateral institutions; and the nature of emerging market multinationals. The title seeks strong conceptual studies, contributing to the advancement of theories and frameworks, and sound empirical work, whether qualitative or quantitative, suggesting managerial, economic or government policy recommendations. The journal encourages replication studies that contribute to our understanding of the reliability and validity of current knowledge. Finally, Multinational Business Review welcomes proposals for perspectives pieces that offer critical and challenging viewpoints; surveys of the literature particularly those that use new and innovative bibliometric methods; and special issues on topics of relevance to Multinational Business Review.