From national monopoly to multinational corporation: How regulation shaped the road towards telecommunications internationalisation

Clifton, Judith; Díaz‐Fuentes, Daniel; Comín, Francisco Comín

doi:10.1080/00076791.2011.599588

Cited by 49 publications

(42 citation statements)

References 28 publications

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“…However, unlike the case with PPPs, thus far SIB designers have not addressed the concerns internationalization might create for managing the contracts. Internationalization and liberalization have created challenges for managing public service monopolies and contractors (Gerbasi and Warner 2007;Clifton, Comin, and Diaz-Fuentes 2011). Recent scholarly research has led to more thoughtful analysis of the welfare propositions that should govern contracting (Del Bo and Florio 2012;Florio 2013), but SIB's primary welfare consideration is attracting investment to a successful model program.…”

Section: Public Private Partnershipsmentioning

confidence: 99%

Private finance for public goods: social impact bonds

Warner

2013

Journal of Economic Policy Reform

189

160

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Social impact bonds (SIBs) attract private investment to social programs by paying a market rate of return if predefined outcome targets are met. SIBs monetize benefits of social interventions and tie pay to performance, limiting governmental control once the contract is designed. Despite policy enthusiasm across the globe, SIBs have failed to attract private market investors without substantial additional guarantees. SIBs raise questions about government's ability to ensure broader public values. Using literature on contracting, performance management, and public private partnerships, this exploratory analysis focuses on institutional design, transaction costs, and performance measurement, outlining the opportunities and concerns SIBs present.

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Section: Public Private Partnershipsmentioning

confidence: 99%

Private finance for public goods: social impact bonds

Warner

2013

Journal of Economic Policy Reform

189

160

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“…The second main explanation for SOE internationalization emerged in the 1980s and 1990s, particularly in the literature on pro-market reforms (Cerny, 1997;Clifton Comín, & Díaz-Fuentes, 2011;Cuervo-Cazurra & Dau, 2009;Dau, 2012). Pro-market reforms are institutional changes made by the state that were first implemented in the United Kingdom by Margaret Thatcher, and then conducted in several other developed and developing countries (Musacchio & Flores-Macias, 2009;North, 1990).…”

Section: View 2: Pro-market Reforms As Incentives To Soe Internationamentioning

confidence: 99%

“…Under the higher expectations of private stockholders, even in cases they are the minority, SOEs are forced to enhance internal management and performance (Gupta, 2005) and respond to the competition by seeking more profitable international markets (Clifton et al, 2011).…”

Section: View 2: Pro-market Reforms As Incentives To Soe Internationamentioning

confidence: 99%

Internationalization of State-Owned Enterprises Through Foreign Direct Investment

Cahen

2015

Rev. adm. empres.

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Professor at Centro Universitário da FEI, Programa de Pós-Graduação -São Paulo, SP -Brazil RAE-Revista de Administração de Empresas | FGV/EAESP ARTICLES ABSTRACTState-owned enterprises (SOEs) are created to focus on domestic needs, and yet recent evidence points to increasing outward foreign direct investment by SOEs. Existing International Business (IB) theories focus on efficiency-based motives f o r internationalization; therefore, they do not f u lly ca pture SO Es' internalization dynamics, which are driven largely by political factors and social welfare considerations. We integrate public management and IB theories to develop propositions that combine these questions: why SOEs internationalize; what are their motivations; and what are the main managerial outcomes of SOEs' internationalization. Our findings suggest that SOEs display little hesitancy in entering international markets, and that SOE international expansion is not contradictory with the goals of state-ownership if the purpose is to adjust the company to changing institutional environments both in the domestic and international markets. Our propositions about SOE internationalization are based on an in-depth case study of the outward foreign direct investment conducted by Brazil's Petrobras over the past three decades. KEYWORDS | State-owned enterprises, internationalization, emerging markets, efficiency-based international business theories, socio-political-based public management theory. RESUMO Empresas estatais são criadas para se concentrarem em necessidades domésticas, no entanto evidências apontam para o crescimento do investimento estrangeiro direto no exterior por empresas estatais. As teorias existentes no campo de negócios internacionais focalizam motivos para internacionalização com base em eficiência, p ortanto n ão c aptam p lenamente a s d inâmicas d a i nternacionalização d as e mpresas e statais. Integramos a teoria dos campos de administração pública e negócios internacionais para desenvolver proposições que combinem as seguintes questões: por que empresas estatais se internacionalizam, quais são as motivações dessas empresas e quais as principais consequências gerenciais de sua internacionalização. Nossos achados sugerem que as empresas estatais demonstram pouca hesitação para entrar em mercados internacionais e que sua expansão internacional não é contraditória com os objetivos da propriedade estatal, se o propósito é ajustar a empresa a ambientes institucionais em transformação tanto nos mercados domésticos quanto nos internacionais. Nossas proposições sobre a internacionalização de empresas estatais baseiam-se em um estudo de caso aprofundado do investimento estrangeiro direto no exterior, conduzido pela estatal brasileira Petrobras nas últimas três décadas. PALAVRAS-CHAVE | Empresas estatais, internacionalização, mercados emergentes, teorias de negócios internacionais com base em eficiência, teorias de administração pública com base sociopolítica. RESUMEN Las empresas de propiedad del estado (EPE) se crean para satisfacer...

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“…Cawley (2013), more specifically, investigates how this regulatory mode has helped to develop both mobile and broadband communications and shows that liberalisation has been more effective in the mobile sector. Clifton, Comín, and Díaz-Fuentes (2011), among others, demonstrate how liberalisation, along with privatisation and the introduction of competition into markets, has enabled some of the former state owned incumbent operators to expand their spatial reach and emerge as multinational companies. In contrast, Belloc, Nicita, and Parcu (2013) empirically investigate the nature and outcomes of liberalisation and show the importance of NRAs in this process.…”

Section: Market Liberalisation In the Telecommunications Sectormentioning

confidence: 99%