3期

最新文章

• Do domestic and foreign fund managers have similar preferences for stock characteristics? A cross-country analysis AI翻译
  作者：Covrig, Vicentiu; Lau, Sie Ting; Ng, Lilian
  作者单位：University of Wisconsin System; University of Wisconsin Milwaukee; California State University System; California State University Northridge; Nanyang Technological University
  摘要：Using a new unique data set on mutual fund stockholdings, we identify several interesting similarities and differences in the stock preferences of domestic and foreign fund managers from 11 developed countries. Results show that both groups of managers prefer stocks with high return on equity, large turnover, and low return variability, and that they also exhibit differential investment behavior. Domestic managers also favor firms that pay large dividends, have low financial distress and high ...
• A quarter century of Culture's Consequences:: a review of empirical research incorporating Hofstede's cultural values framework AI翻译
  作者：Kirkman, Bradley L.; Lowe, Kevin B.; Gibson, Cristina B.
  作者单位：Texas A&M University System; Texas A&M University College Station; Mays Business School; University of North Carolina; University of North Carolina Greensboro; University of California System; University of California Irvine
  摘要：Since Geert Hofstede's Culture's Consequences: International Differences in Work-Related Values ( Sage, 1980) was published, researchers have utilized Hofstede's cultural values framework in a wide variety of empirical studies. We review 180 studies published in 40 business and psychology journals and two international annual volumes between 1980 and June 2002 to consolidate what is empirically verifiable about Hofstede's cultural values framework. We discuss limitations in the Hofstede-inspir...
• The pricing of exchange risk in emerging stock markets AI翻译
  作者：Carrieri, Francesca; Majerbi, Basma
  作者单位：University of Victoria; McGill University
  摘要：In this paper, we provide new evidence about the unconditional pricing of exchange risk in the stock market, based on emerging market data. We conduct empirical tests using cross-sectional data at the market, portfolio and firm level from nine emerging markets (EMs) to determine whether exchange risk is priced under alternative model specifications and exchange rate measures. Our results support the hypothesis of a significant unconditional exchange risk premium in emerging stock markets, diff...
• Impact of ownership on the international involvement of SMEs AI翻译
  作者：Fernandez, Zulima; Nieto, Maria Jesus
  作者单位：Universidad Carlos III de Madrid
  摘要：This paper analyses the relationship between the internationalisation strategies of SMEs and types of ownership. Different types of ownership affect firms, and this in turn will influence the internationalisation strategy adopted. Using a sample of Spanish SMEs, our results show that internationalisation is negatively related to family ownership and positively related to corporate ownership. We have also observed that the presence of a corporate blockholder in family firms encourages internati...
• MNEs and industrial structure in host countries: a portfolio analysis of Irish manufacturing AI翻译
  作者：Barry, F.; Kearney, C.
  作者单位：Trinity College Dublin; Trinity College Dublin; University College Dublin
  摘要：Ireland has been very successful in attracting foreign MNEs in high-technology sectors. Although these sectors exhibit faster growth than the traditional low-technology sectors populated primarily by indigenous firms, the high-technology sectors are also more volatile. We use portfolio theory to show that Ireland's FDI strategy has led to a more diversified manufacturing sector that exhibits higher growth without a commensurate increase in volatility and risk.
• Does global diversification destroy firm value? AI翻译
  作者：Doukas, John A.; Kan, Ozgur B.
  作者单位：Old Dominion University
  摘要：Previous empirical studies have found that global diversification results in 18% shareholder loss. In this paper, we examine the sources behind the global diversification shareholder value loss in a contingent claims framework. This postulates that the risk-reduction effects of global diversification should decrease the value of shareholder equity (call option), whereas they should increase bondholder value. Consequently, near-all equity globally diversified firms should not experience a share...
• A career in the early limbo of international business: policy, research and education AI翻译
  作者：Behrman, Jack N.
  作者单位：University of North Carolina; University of North Carolina Chapel Hill
  摘要：Colleagues have characterized my place in the early days of international business (IB) studies and my later contributions as 'in limbo', 'at the interfaces', 'a synthesis', 'focusing on linkages' and 'iconoclastic'. The 'limbo' placed me outside the usual functional disciplines in business schools, which in the 1950s seldom included 'international business'. The 'interfaces' and 'linkages' of IB were focused on the interdependence of politics, government and business; the 'synthesis' was an e...
• The multinational corporation as a multilingual community: Language and organization in a global context AI翻译
  作者：Luo, Yadong; Shenkar, Oded
  作者单位：University of Miami; University System of Ohio; Ohio State University
  摘要：This paper develops a framework for analyzing the multinational corporation (MNC) as a multilingual community in which parent functional language and subunit functional languages are concurrently used and recursively linked through an intra-corporate communication network. The unit, breadth and intensity of an MNC's language system are designed to apply global strategies within the context of evolving environmental and organizational realities. To the extent that language design is the product...