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作者：El Ghoul, Sadok; Guedhami, Omrane; Kim, Yongtae
作者单位：University of Alberta; University of South Carolina System; University of South Carolina Columbia; Santa Clara University
摘要：Drawing on transaction cost theories and the resource-based view of a firm, we posit that the value of corporate social responsibility (CSR) initiatives is greater in countries where an absence of market-supporting institutions increases transaction costs and limits access to resources. Using a large sample of 11,672 firm year observations representing 2445 unique firms from 53 countries during 2003-2010 and controlling for firm-level unobservable heterogeneity, we find supportive evidence tha...
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作者：Miletkov, Mihail; Poulsen, Annette; Wintoki, M. Babajide
作者单位：University System Of New Hampshire; University of New Hampshire; University System of Georgia; University of Georgia; University of Kansas
摘要：Foreign directors can affect firm value through their advising and monitoring functions. However, the demand for these directors, as well as their effect on firm performance is likely to be influenced by firm-and country-level characteristics. In a large sample of non-US firms, we find that foreign directors are more likely to be associated with firms that have more foreign operations and an international shareholder base, and firms that are located in countries with a limited supply of potent...
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作者：Hakanson, Lars; Kappen, Philip
作者单位：Copenhagen Business School; Uppsala University
摘要：Forty years after the publication of the original Uppsala Model, we revisit the empirical observations that inspired its conceptual development. The empirical evidence, we suggest, invites the formulation of an alternative and complementary model of the internationalization process of the firm, one that we have named the 'Casino Model' of internationalization. The Casino Model uncovers a number of new research issues pertaining to internationalization and to the nature of strategic decision-ma...
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作者：Gineikiene, Justina; Diamantopoulos, Adamantios
作者单位：ISM University of Management & Economics; University of Vienna
摘要：Drawing from negativity bias, fading affect bias, and ambivalence literature, we provide evidence that consumer nostalgia acts as a countervailing force to consumer animosity in historically connected markets (HCMs), that is, trading countries that previously were part of the same country but are now independent. For both Soviet-era and (new) Russian brands, our findings show that nostalgia can compensate for the negative effects of animosity on product judgment and product ownership in HCMs c...
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作者：Calluzzo, Paul; Dong, G. Nathan; Godsell, David
作者单位：Queens University - Canada; Columbia University; University of Illinois System; University of Illinois Urbana-Champaign
摘要：We examine US firm-level campaign finance contributions preceding and subsequent to equity investment by a sovereign wealth fund (SWF). Our empirical results suggest that SWFs are attracted to firms engaged in US campaign finance and that firm campaign finance contributions increase after SWF investment. SWF attraction to campaign finance firms increases (1) after an exogenous legal shock that liberalized corporate campaign finance activities, and (2) in a subset of industries vulnerable to re...
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作者：Heinberg, Martin; Ozkaya, H. Erkan; Taube, Markus
作者单位：University of Leeds; California State University System; California State Polytechnic University Pomona; University of Duisburg Essen; Nankai University
摘要：This study explores how positioning a brand as global and/or local iconic can moderate the impact of advertising frequency (AF) on brand attitudes in an emerging market context. We argue that brands may be seen as the source of an advertisement and that the positioning of a brand can thus enhance source attractiveness, and/or source credibility, which in turn facilitate the impact of AF on brand attitudes. Our results support that both a global and a local iconic positioning enhance the AF-bra...
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作者：Qi, Yaxuan; Roth, Lukas; Wald, John
作者单位：City University of Hong Kong; University of Alberta; University of Texas System; University of Texas at San Antonio
摘要：We examine how legal creditor rights are related to debt financing and corporate investment over the business cycle. Using firm-level data from 40 countries, we find that creditor rights are associated with greater debt financing and investment during economic downturns, but creditor rights have a significantly smaller effect during expansions. The beneficial effects of creditor rights during recessions are stronger for firms that are more likely to have severe shareholder-bondholder agency pr...
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作者：Reuber, A. Rebecca; Dimitratos, Pavlos; Kuivalainen, Olli
作者单位：University of Toronto; University of Glasgow; Lappeenranta-Lahti University of Technology LUT; University of Manchester; Alliance Manchester Business School
摘要：Categorizations emphasizing the earliness of internationalization have long been a cornerstone of international entrepreneurship research. Here we contend that the prominence of categories has not been commensurate with theory development associated with them. We draw on categorization theory to explain why earliness-based categories are persistent, and argue that a greater focus on notions related to opportunity can open new avenues of research about the entrepreneurial internationalization o...
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作者：Kim, Hyejun; Song, Jaeyong
作者单位：Massachusetts Institute of Technology (MIT); Seoul National University (SNU)
摘要：Business groups may fill institutional voids in emerging economies, but empirical research is lacking as to when and how institutional voids affect economic behavior of individual firms. We examine the effect of institutional voids in capital markets on individual transactions in emerging economies, focusing on M&A deals that were abandoned after being publicly announced. M&A deals may fall through when unexpected information is brought to light or financing difficulties arise. At the country ...
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作者：Aguilera, Ruth V.; Desender, Kurt A.; Lopez-Puertas Lamy, Monica; Lee, Jun Ho
作者单位：Northeastern University; Universitat Ramon Llull; Escuela Superior de Administracion y Direccion de Empresas (ESADE); Universidad Carlos III de Madrid; Texas Christian University
摘要：Within the backdrop of comparative corporate governance research, we draw on the managerial reporting and impression management literatures to examine how the type, level, and nature of foreign shareholders, infused with their own governance logic, influence initial managerial earnings optimism and how foreign ownership shapes earnings guidance in a stakeholder-oriented setting. Drawing on Japanese data, and addressing endogeneity concerns, our results show that under the presence of foreign o...
