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Explicating political hazards and safeguards: a transaction cost politics approach

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  • Witold J. Henisz
  • Bennet A. Zelner

Abstract

We apply the logic of comparative institutional analysis to the question of the governance of the relationship between private investors and the government. We consider two strategies that investors may follow: lobbying for the creation of a specialized political governance structure and relying on more general political mechanisms to influence policy in a given industry on an ongoing basis. We identify political hazards as a crucial determinant of the choice of political governance and the transactional attributes that give rise to such hazards. Finally, we highlight shift parameters in a nation's institutional environment that influence the choice between specialized and generalized political governance mechanisms. Copyright 2004, Oxford University Press.

Suggested Citation

  • Witold J. Henisz & Bennet A. Zelner, 2004. "Explicating political hazards and safeguards: a transaction cost politics approach," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 13(6), pages 901-915, December.
    • Handle: RePEc:oup:indcch:v:13:y:2004:i:6:p:901-915
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    Cited by:

    1. Contractor, Farok J. & Dangol, Ramesh & Nuruzzaman, N. & Raghunath, S., 2020. "How do country regulations and business environment impact foreign direct investment (FDI) inflows?," International Business Review, Elsevier, vol. 29(2).
    2. Jun Du & Sourafel Girma, 2010. "Red Capitalists: Political Connections and Firm Performance in China," Kyklos, Wiley Blackwell, vol. 63(4), pages 530-545, November.
    3. Francesc Trillas Jané, 2016. "Behavioral Regulatory Agencies," Working Papers wpdea1606, Department of Applied Economics at Universitat Autonoma of Barcelona.
    4. Torres, Miguel Matos & Clegg, L. Jeremy & Varum, Celeste Amorim, 2016. "The missing link between awareness and use in the uptake of pro-internationalization incentives," International Business Review, Elsevier, vol. 25(2), pages 495-510.
    5. Pei Sun & Ziliang Deng & Mike Wright, 2021. "Partnering with Leviathan: The politics of innovation in foreign-host-state joint ventures," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(4), pages 595-620, June.
    6. Klein, Peter G. & Mahoney, Joseph T. & McGahan, Anita M. & Pitelis, Christos N., 2009. "Toward a Theory of Public Entrepreneurship," Working Papers 09-0106, University of Illinois at Urbana-Champaign, College of Business.
    7. Rodolphe Durand & Robert M. Grant & Tammy L. Madsen & Sinziana Dorobantu & Aseem Kaul & Bennet Zelner, 2017. "Nonmarket strategy research through the lens of new institutional economics: An integrative review and future directions," Strategic Management Journal, Wiley Blackwell, vol. 38(1), pages 114-140, January.
    8. Pei Sun & Ziliang Deng & Mike Wright, 0. "Partnering with Leviathan: The politics of innovation in foreign-host-state joint ventures," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 0, pages 1-26.
    9. Contractor, Farok J. & Nuruzzaman, N. & Dangol, Ramesh & Raghunath, S., 2021. "How FDI Inflows to Emerging Markets Are Influenced by Country Regulatory Factors: An Exploratory Study," Journal of International Management, Elsevier, vol. 27(1).
    10. Weiguo Zhong & Ya Lin & Danxue Gao & Haibin Yang, 2019. "Does politician turnover affect foreign subsidiary performance? Evidence in China," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(7), pages 1184-1212, September.
    11. Kim, Phillip H. & Li, Mingxiang, 2014. "Injecting demand through spillovers: Foreign direct investment, domestic socio-political conditions, and host-country entrepreneurial activity," Journal of Business Venturing, Elsevier, vol. 29(2), pages 210-231.

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