Date of this Version
Business and Politics
This paper explores the implications of going beyond transaction cost theory's implicit focus on domestic investors to include multinational actors. As developed herein, the discriminating alignment between the level of hazards (contractual and/or political) and the mode of governance carries over. In the open-economy context, such an alignment reflects the hazards that arise from the nature of the transaction and those that arise from the nature of the political and regulatory environment.
The final publication is available at www.degruyter.com.
Henisz, W. J., & Williamson, O. E. (1999). Comparative Economic Organization—Within and Between Countries. Business and Politics, 1 (3), 261-278. http://dx.doi.org/10.1515/bap.19184.108.40.2061
Date Posted: 27 November 2017