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Abstract This paper investigates the impact of within-country religious diversity on the performance of private participation infrastructure projects. Our analysis of 8139 projects in 33 countries (1990–2014) shows that higher… Click to show full abstract
Abstract This paper investigates the impact of within-country religious diversity on the performance of private participation infrastructure projects. Our analysis of 8139 projects in 33 countries (1990–2014) shows that higher levels of within-country religious diversity are associated with a higher risk of project failure. This negative effect is exacerbated in greenfield projects and when a project's main sponsor is a foreign firm. In contrast, we find no moderation effect for local government ownership. The study contributes to the ongoing debate regarding the effects of within-country diversity on foreign business ventures.
Journal Title: Journal of Business Research
Year Published: 2019
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