Publication Type

Book Chapter

Version

submittedVersion

Publication Date

1-2023

Abstract

The renaissance of sovereign investment is one of the defining economic trends of the 21st century. While many states have benefitted, and continue to benefit, from an influx of state-backed foreign investment, this embrace is not without its hesitancies. Host states are particularly concerned that state-owned enterprises (SOE s) pursue non-commercial policy objectives, maintain lower levels of transparency than their private counterparts, and operate with inferior standards of responsible business conduct. In response, domestic regulators have enacted a series of countermeasures for SOE investment, including requirements that such enterprises must invest on a “commercial basis.” However, the regulation of foreign investors does not occur in a regulatory vacuum. States are bound by obligations contained in international investment treaties. This article examines whether regulations targeting the corporate governance of SOE s comply with the substantive investment protections of investment law.

Keywords

Bilateral Investment Treaties, Competitive Neutrality, Corporate Governance, Investment Arbitration, National Security, State-Owned Enterprises

Discipline

Banking and Finance Law | Business Law, Public Responsibility, and Ethics | Business Organizations Law

Publication

Chinese (Taiwan) Yearbook of International Law and Affairs

Volume

39

First Page

202

Last Page

239

ISBN

9789004532069

Identifier

10.1163/9789004532069_006

Publisher

Brill Academic Publishers

City or Country

Leiden

Copyright Owner and License

Authors

Additional URL

https://doi.org/10.1163/9789004532069_006

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