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作者：Han, Sam; Kang, Tony; Salter, Stephen; Yoo, Yong Keun
作者单位：State University System of Florida; Florida Atlantic University; Singapore Management University; University of Texas System; University of Texas El Paso; Korea University
摘要：This study hypothesizes and tests whether the degree to which managers exercise earnings discretion relates to their value system (i.e., culture) as well as the institutional features (i.e., legal environment) of their country. We find that uncertainty avoidance and individualism dimensions of national culture explain managers' earnings discretion across countries, and that this association varies with the strength of investor protection. This study extends prior literature by documenting that...
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作者：Kang, Jun-Koo; Kim, Jin-Mo
作者单位：Nanyang Technological University; Rutgers University System; Rutgers University New Brunswick
摘要：Although foreign equity ownership around the world has increased substantially over the last three decades, there is little evidence on the role of foreign ownership in the host country. Using a large sample of foreign partial acquisitions in the US from 1981 to 1999, we examine the determinants of foreign acquirers' governance activities in US targets. We focus on the information asymmetries that foreign acquirers face in the US as a key determinant of their governance activities in US target...
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作者：Henisz, Witold J.; Mansfield, Edward D.; Von Glinow, Mary Ann
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作者：Birkinshaw, Julian; Bresman, Henrik; Nobel, Robert
作者单位：University of London; London Business School; INSEAD Business School
摘要：In this Retrospective, we summarise and discuss the findings of our 1999 JIBS paper Knowledge transfer in international acquisitions'', and we consider how research in this area has evolved over the last decade. The paper's key contribution was to show how the post-acquisition integration process in a sample of three international acquisitions led to the creation of a social community'', characterised by two-way knowledge-sharing between the acquirer and acquired companies. We discuss how the ...
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作者：Hutson, Elaine; Stevenson, Simon
作者单位：University College Dublin; City St Georges, University of London
摘要：The benefits of openness to trade are well established, but the disadvantages of openness are less well understood. At the firm level trade is the principal source of exposure to exchange rate movements, and exchange exposure can be moderated by a range of hedging techniques. In this paper we ask two questions. First, do firms in open economies bear higher levels of exchange exposure than those in more closed economies? Second, is a strong corporate governance environment - one in which manage...
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作者：Xu, Dean; Zhou, Changhui; Phan, Phillip H.
作者单位：Peking University; University of Hong Kong; Johns Hopkins University
摘要：We examine how firms in an emerging market address their information disadvantage in takeovers. One strategy is to complete the acquisition sequentially rather than as a one-time deal. In contrast to firms in developed economies that enjoy relatively easy access to information, emerging-market firms face differential access to information on target firms, owing to institutional weaknesses and constraints in those markets. Sequential acquisitions are conceptualized as a real-option-based strate...
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作者：Chacar, Aya S.; Newburry, William; Vissa, Balagopal
作者单位：State University System of Florida; Florida International University; INSEAD Business School
摘要：This study challenges the implicit assumption of homogeneity in national institutional environments made in past studies of firm performance persistence. We propose that home-country institutions matter. We focus on the impact of formal institutions in the product, financial, and labor markets, arguing that they affect the size of pools of exchange partners and the types of exchanges allowed and condoned. Ultimately, these restrictions affect competitive intensity among firms, and firm perform...
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作者：Nebus, James; Rufin, Carlos
作者单位：University of North Carolina; University of North Carolina Charlotte; Suffolk University
摘要：Participants in international bargaining include different types (nation states, MNEs, NGOs, and multilateral organizations) and different numbers of these actors. Our theoretical contribution is to extend the bargaining power paradigm with a framework that models bargaining in this complex environment as a network. The configuration of supports and constraints among all participating actors in the bargaining environment is captured in the structure of the network. Antecedents of an actor's ba...
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作者：Cumming, Douglas; Walz, Uwe
作者单位：York University - Canada; Goethe University Frankfurt
摘要：To obtain more funds from the institutional investors, private equity (PE) fund managers may report inflated valuations of private investee companies that are not yet sold. However, such overvaluations may result in a reputational cost when those investments are realized. Using evidence from 39 countries, we show that there are significant systematic biases in managers' reporting of fund performance. We find that these biases depend on the accounting and legal environment in a country, and on ...
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作者：Diamantopoulos, Adamantios; Papadopoulos, Nicolas
作者单位：University of Vienna; Carleton University
摘要：The importance of establishing equivalence in measurement prior to conducting substantive cross-country comparisons has long been emphasized in international business research. However, all approaches currently available for the investigation of measurement equivalence or invariance (ME/I) assume that the focal measures are reflective in nature. In our paper we offer guidelines for the assessment of ME/I when the focal construct is measured with formative indicators. We first identify distinct...
