Üner, Mehmet MithatUner, M. MithatCavusgil, ErinCavusgil, S. TamerBusiness2024-07-052024-07-052018100969-59311873-614910.1016/j.ibusrev.2018.01.0032-s2.0-85040349578https://doi.org/10.1016/j.ibusrev.2018.01.003https://hdl.handle.net/20.500.14411/2622UNER, MEHMET MITHAT/0000-0002-1802-2553; Cavusgil, S. Tamer/0000-0003-1947-492XBOT (Build- Operate-Transfer) projects are well known to sponsors and contractors of mega infrastructure projects around the world. The massive scale and long-term time frame of these construction projects require non-traditional business relationships among the sponsors, prime contractors, sub-contractors, and a host of other vendors. The BOT model is typically sought by local and national governments that cannot independently finance complex mega projects. A BOT deal refers to a large-scale project where the sponsor (typically a governmental agency) contracts with a prime contractor, that assumes the responsibility for completing the construction and operating it for a predetermined period, before turning ownership back over to the sponsor. During this predetermined period, the contractor can recoup its investment through its operations and/or through a guaranteed rate of return from the sponsor. This paper reports on such a project - the case of Yavuz Sultan Selim Bridge, the third bridge linking Asia and Europe in Istanbul, a sprawling metropolis of roughly 15 million people. The bid also called for the construction of the connecting highways. It was initiated in 2012 and was completed in 2016. Named after a celebrated Ottoman Sultan, the bridge is widely acknowledged to address a much-needed infrastructure project for Istanbul. We detail BOT projects - rarely discussed in the IB literature - as a hybrid mode of international market entry, with unique features, benefits, and risks. The insights offered in this manuscript were gathered from a series of unstructured interviews with senior executives of the prime contractors.eninfo:eu-repo/semantics/closedAccessBuild-Operate-Transfer projectsMega projectsInfrastructure projectsForeign market entryEmerging marketsGlobal contractorsTurkeyArticleQ1274797802WOS:000438324700006