Müllner, Jakob. 2016. From uncertainty to risk - a risk management framework for market entry. Journal of World Business 51 (5), 800-814.
BibTeX
Abstract
This paper contributes to entry mode theories by proposing to integrate the distinction between uncertainty and manageable risk (Knight, 1921). Acknowledging firms’ ability to diversify, transfer and mitigate certain sources of risk provides an additional layer of analysis, improves empirical modelling and managerial practicability of entry mode research. We provide a framework of instruments including capital structure, contractual and network-based risk management. We illustrate the theoretical and empirical value of our framework using a large sample of project financed infrastructure investments. Finally, we position project finance as a risk-motivated, cooperative market entry mode complementing existing categorizations.
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Status of publication | Published |
---|---|
Affiliation | WU |
Type of publication | Journal article |
Journal | Journal of World Business |
Citation Index | SSCI |
WU Journalrating 2009 | A |
WU-Journal-Rating new | FIN-A, MAN-A, STRAT-B, WH-A |
Language | English |
Title | From uncertainty to risk - a risk management framework for market entry |
Volume | 51 |
Number | 5 |
Year | 2016 |
Page from | 800 |
Page to | 814 |
Reviewed? | Y |
URL | http://www.sciencedirect.com/science/article/pii/S1090951616300712 |
DOI | http://dx.doi.org/10.1016/j.jwb.2016.07.011 |
JEL | JWB |