Law, Contract and Reputation in International Business: What Works?
Article from: TDM 0 (2003), in Roundup of Articles
The consensus view of the management sciences is that the absence of a stable and suitable legal system is a disincentive for trade and investment. Such a disincentive can be overcome in countries which present very attractive business opportunities but requires the application of a number of risk management techniques, many of them related to the "political risk" management approach. This standard and conventional approach has its virtues. It highlights the difficulties international companies (in particular those from Western countries) have in dealing with unfamiliar, non-existent, ...