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  Does Ownership Matter? Claimant Characteristics and Case Outcomes in Investor-State Arbitration

Calvert, J., Rommerskirchen, C., & van der Heide, A. (2022). Does Ownership Matter? Claimant Characteristics and Case Outcomes in Investor-State Arbitration. New Political Economy, (published online January 22). doi:10.1080/13563467.2021.2013792.

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https://doi.org/10.1080/13563467.2021.2013792 (Publisher version)
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 Creators:
Calvert, Julia1, Author
Rommerskirchen, Charlotte1, Author
van der Heide, Arjen2, 3, Author              
Affiliations:
1University of Edinburgh, UK, ou_persistent22              
2Soziologie öffentlicher Finanzen und Schulden, MPI for the Study of Societies, Max Planck Society, ou_3035385              
3Leiden University, The Netherlands, ou_persistent22              

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Free keywords: ISDS, shareholder value, patient capital, financialization, shareholder claims
 Abstract: The power of foreign investors has become a key component in debates on sovereignty and globalisation. Here the mechanism of investor-state dispute settlement (ISDS), which allows firms legal recourse against host governments, has come to the forefront of debates over corporate rights in the contemporary era. While proponents laud ISDS as a neutral and efficient means of dispute resolution, critics claim that it shields transnational corporations from the oversight of national legal systems while enhancing their ability to interfere in host state policy matters. Despite the rich literature on ISDS, we know relatively little about the identity of corporate actors who use these mechanisms. Who are these foreign firms that take governments to court? Do different companies use these mechanisms to different effect? This article examines the impact of corporate ownership on ISDS outcomes in 241 cases from 1996 to 2014. Our results suggest that ownership matters. While public and private companies demonstrate similar propensities to settle, respondent states are less likely to win cases that are brought by a publicly traded company. For host-governments, this finding is particularly significant given that public companies demand more – and are likely to win more – in damages than private companies.

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Language(s): eng - English
 Dates: 2022-01-17
 Publication Status: Published online
 Pages: 18
 Publishing info: -
 Table of Contents: Introduction
Explaining ISDS outcomes
The costs of arbitration
Public vs. private companies and investor state disputes
Measuring ISDS outcomes
Control variables
The determinants of ISDS outcomes - ownership matters
Conclusion
Acknowledgements
Footnotes
References
 Rev. Type: Peer
 Identifiers: DOI: 10.1080/13563467.2021.2013792
 Degree: -

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Title: New Political Economy
Source Genre: Journal
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Pages: - Volume / Issue: (published online January 22) Sequence Number: - Start / End Page: - Identifier: ISSN: 1356-3467
ISSN: 1469-9923