In this study we investigate the relative effects of private and public ownership on the completion costs of renewable energy infrastructure projects in emerging markets. Using RBV and the related capabilities perspective, we hypothesize that private domestic and private foreign firms incur higher completion costs relative to state-owned projects in emerging markets. We also use corporate governance perspective to hypothesize that Foreign Institutional Investors (FIIs) will mitigate the completion costs for privately owned projects, both domestic and foreign, relative to state owned projects. Empirical analysis is conducted using data from on 1,809 renewable energy projects across 1200 firms in India. The findings show support for all but one of our hypotheses.
