Person: Blake, Daniel J.
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Daniel J.
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Blake
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IE University
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IE Business School
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Strategy
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Publication Managing Policy Reversals: Consequences for Firm Performance(Institute for Operations Research and Management Sciences, 2019-05-14) Jandhyala, Srividya; Blake, Daniel J.; https://ror.org/02jjdwm75The recent revival of populism and nationalism across many parts of the world threatens to unravel the market-oriented reforms of the previous era. We examine the impact of the reversal of a previously adopted market-expanding policy on organizational performance. We argue that these policy reversals are contested; affected firms undertake a broad range of political and nonmarket activities to alter the implementation of the policy and buffer themselves from adverse consequences. However, these activities can increase policy uncertainty while making new demands on management, leading to diminished investment and a reallocation of finite managerial resources. The result is that firm performance on operational parameters suffers, including in locations that are not directly affected by the policy reversal. To empirically isolate this effect, we exploit an unexpected policy reversal in the context of telecommunications firms in India. Through an example caselet, we first outline the political and nonmarket activities of one firm affected by the unexpected policy reversal. We then empirically examine the performance of affected and unaffected telecommunication firms using a difference-in-differences approach to provide support for our arguments. The online appendix is available at https://doi.org/10.1287/stsc.2019.0083.Publication The Conditional Nature of Political Risk: How Home Institutions Influence the Location of Foreign Direct Investment(Wiley, 2018-03-14) Beazer, Quintin; Blake, Daniel J.; Spanish Ministry of Economics and Competitiveness; https://ror.org/02jjdwm75What determines whether countries' institutions attract or deter investment? Although existing theories predict that multinational enterprises (MNEs) avoid locations where institutions cannot constrain public and private actors' opportunistic behavior, we argue host institutions' attractiveness depends on firms' home environment. Home country institutions shape firms' practices and capabilities, thus helping to determine the environments that firms are best prepared to face abroad. We test our predictions using multiple data sets at different levels of analysis: firm-level data on MNEs' foreign subsidiaries, data on bilateral foreign direct investment (FDI) positions, and longitudinal data on bilateral FDI flows. We find that states with independent judiciaries are particularly attractive to investment from countries also possessing independent courts. Similarly, countries with low judicial independence disproportionately send FDI to countries lacking independent judiciaries. These findings' implications challenge conventional wisdom: “Good” institutions may not attract all investors, and “bad” institutions may not always deter, as current research suggests.Publication The organizational implications of Brexit(Springer, 2019-03-19) Moschieri, Caterina; Blake, Daniel J.; Fundación Ramón Areces; https://ror.org/02jjdwm75This point-of-view article examines the organizational implications of the UK’s exit from the European Union (Brexit). We identify the effects of Brexit on firms’ transaction costs in cross-border trade within Europe and highlight the importance of EU residency to secure licenses to operate. We also address how access to skilled labor may be affected by rising restrictions to immigration. Finally,we discuss the possible implications of Brexit for the organizational design of British firms and foreign firms operating in the UK. © 2019,The Author(s).