rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: Leviathan as Foreign Investor
    sub title: Evidence from Sovereign Wealth Funds
  name:
    name part: Wang, Di
    role:
      role term: creator
    role:
      role term: author.
  name:
    name part: Quan, Li
    role:
      role term: thesis advisor.
  name:
    name part: Texas A & M University
    role:
      role term: degree granting institution.
  type of resource: text
  genre: bibliography
  origin info:
    place:
      place term: txu
    date issued: 2015
    issuance: monographic
  language:
    language term: eng
  physical description:
    form: remote
    extent: 1 online resource.
  abstract: How does state ownership affect sovereign wealth funds (SWFs) investment abroad? This dissertation aims to answer this question by providing a general theoretical framework and a detailed deal-level analysis. I argue that two attributes of state ownership affect SWF investment behaviors. First, SWFs face greater discrimination by the host country than do private investors. Since the discrimination is heightened when the home and host countries have poor political relations, SWFs are more likely to invest in host countries with which they have better political relations. Furthermore, SWFs are likely to partner with other investors in order to mitigate the discrimination by the host country. Second, state ownership leads SWFs to be more risk-tolerant than private investors. The observable implication is that SWFs are less likely to be deterred than are private investors by institutional distance between the home and host countries when investing abroad. I also argue that even though state ownership may motivate SWFs to pursue strategic interests on behalf of the home government, different governments often have different strategic objectives. This suggests that SWFs may behave differently even when investing in strategic industries. To illustrate this point, I investigate the energy industry and argue that SWFs from energy-poor countries are more likely to invest in the energy industry compared to other types of investors in pursuit of energy security for the home country. However, foreign investment in the energy industry is likely to face more resistance by the host country than investment in other industries. This resistance would increase with the deterioration of bilateral relations, especially for SWFs from energy-poor countries. To test these claims, I construct a unique dataset from several sources. My analysis covers more than 7,000 foreign acquisitions between 1981 and 2012. Using various model specifications, I find consistent evidence to support my main ar…
  note: by Di Wang.
  note: "Major Subject: Political Science"
  note: Includes vita.
  note: Doctor of Philosophy Texas A & M University 2015 http://hdl.handle.net/1969.1/155188
  note: Includes bibliographical references.
  note: Text (Dissertation)
  subject:
    topic: Major Political Science
  subject:
    topic: Sovereign Wealth Funds
  subject:
    topic: State Ownership
  subject:
    topic: Foreign Investment
  identifier: http://hdl.handle.net/1969.1/155188
  record info:
    record content source: TXA
    record creation date: 160308
    record change date: 20170928112503.0
    record identifier: in00003610396
    language of cataloging:
      language term: eng