The South African economic elite and ownership changes in foreign multinationals’ assets during and after Apartheid-era sanctions
研究种族隔离时期制裁下外资跨国公司资产如何被当地经济精英获取，发现跨国公司撤离时低价出售资产给精英，制裁结束后回购时精英再次获利。
Using a historical lens to investigate sanctions against Apartheid South Africa, we found foreign multinational enterprises (MNEs) lost out repeatedly during sanctions, almost always to the local economic elite. When MNEs departed, they often sold their assets to the local economic elite to salvage some value. To ensure continued operations (and thus payments to them), MNE continued supporting buyers during the sanctions era. If MNEs repurchased their assets once sanctions ended, the local elite again benefited. Personal ties matter in institutionally weak contexts, and we make a contribution by using elite theory to interrogate with whom such ties are forged.