Quotation Müllner, Jakob. 2016. From uncertainty to risk - a risk management framework for market entry. Journal of World Business 51 (5), 800-814.




This paper contributes to entry mode theories by proposing to integrate the distinction between uncertainty and manageable risk (Knight, 1921). Acknowledging firms’ ability to diversify, transfer and mitigate certain sources of risk provides an additional layer of analysis, improves empirical modelling and managerial practicability of entry mode research. We provide a framework of instruments including capital structure, contractual and network-based risk management. We illustrate the theoretical and empirical value of our framework using a large sample of project financed infrastructure investments. Finally, we position project finance as a risk-motivated, cooperative market entry mode complementing existing categorizations.


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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Journal of World Business
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new FIN-A, MAN-A, STRAT-B, VW-C, WH-A
Language English
Title From uncertainty to risk - a risk management framework for market entry
Volume 51
Number 5
Year 2016
Page from 800
Page to 814
Reviewed? Y
URL http://www.sciencedirect.com/science/article/pii/S1090951616300712
DOI http://dx.doi.org/10.1016/j.jwb.2016.07.011


Müllner, Jakob (Details)
Institute for International Business (Zapkau) (Details)
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