Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Sovereign wealth and the crisis: some consequences for Western international businesses

Sovereign wealth and the crisis: some consequences for Western international businesses Purpose – The purpose of this paper is to assess the wide‐ranging implications of the global economic crisis and provide a comprehensive assessment of the how the structure of the market and competition within it is changing as a result. Design/methodology/approach – The research methodology draws on a “financialization” market construct and adapts it to include the public‐private interfaces (PPIs) that have appeared since the global economic crisis. Findings – The crisis has turned the global system on a dime. The decades‐long surge of globalization, as characterized by market liberalization and ever more fast‐paced investment flows, has abated and, in some cases, been dramatically reversed. It has altered the international investment paradigm. Firms have revised their risk functions and are re‐arranging their stakeholder relationships. Research limitations/implications – Much needs to be done to assess the wide‐ranging implications of the most recent crisis. This is just one set of “snapshots”, if you will, of the way in which market structure and competition are being altered. Originality/value – The re‐arrangement of stakeholder relationships of both privately owned firms and sovereign enterprises will have far‐reaching effects on market structure in such areas as market access and competition, as well as on civil society, writ large. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Critical Perspectives on International Business Emerald Publishing

Sovereign wealth and the crisis: some consequences for Western international businesses

Loading next page...
 
/lp/emerald-publishing/sovereign-wealth-and-the-crisis-some-consequences-for-western-7bah6GUEHg

References (79)

Publisher
Emerald Publishing
Copyright
Copyright © 2013 Emerald Group Publishing Limited. All rights reserved.
ISSN
1742-2043
DOI
10.1108/cpoib-06-2013-0023
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to assess the wide‐ranging implications of the global economic crisis and provide a comprehensive assessment of the how the structure of the market and competition within it is changing as a result. Design/methodology/approach – The research methodology draws on a “financialization” market construct and adapts it to include the public‐private interfaces (PPIs) that have appeared since the global economic crisis. Findings – The crisis has turned the global system on a dime. The decades‐long surge of globalization, as characterized by market liberalization and ever more fast‐paced investment flows, has abated and, in some cases, been dramatically reversed. It has altered the international investment paradigm. Firms have revised their risk functions and are re‐arranging their stakeholder relationships. Research limitations/implications – Much needs to be done to assess the wide‐ranging implications of the most recent crisis. This is just one set of “snapshots”, if you will, of the way in which market structure and competition are being altered. Originality/value – The re‐arrangement of stakeholder relationships of both privately owned firms and sovereign enterprises will have far‐reaching effects on market structure in such areas as market access and competition, as well as on civil society, writ large.

Journal

Critical Perspectives on International BusinessEmerald Publishing

Published: Oct 18, 2013

Keywords: Market competition; Market structure; Sovereign wealth; Stakeholder relationships

There are no references for this article.