Performance, diversity, and multiplicity of foreign cross-listing portfolios

被引：12

作者：

Banalieva, Elitsa R. ^{[1
]}

Robertson, Christopher J. ^{[1
]}

机构：

[1] Northeastern Univ, Coll Business Adm, Int Business & Strategy Grp, Boston, MA 02115 USA

来源：

INTERNATIONAL BUSINESS REVIEW | 2010年 / 19卷 / 06期

关键词：

Foreign cross-listing portfolios; Internationalization; Institutional theory; MNEs; CAPITAL-MARKET EQUILIBRIUM; INTERNATIONAL DIVERSIFICATION; CORPORATE GOVERNANCE; FIRM PERFORMANCE; UNITED-STATES; AGENCY COSTS; COMPANIES; PRODUCT; ENVIRONMENT; MODEL;

D O I：

10.1016/j.ibusrev.2010.04.003

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We analyze an underrepresented area in the international business (IB) and finance literatures: the simultaneous effects of multinational enterprises' (MNEs) portfolios of foreign cross-listings' and firm performance. We build on the literatures of multinationality-performance in the IB field and foreign cross-listings in the international finance domain. We advance a theoretical framework of the simultaneous relationships among multiplicity of MNEs' foreign cross-listings (number of foreign stock exchanges), diversity (dispersion of the host countries' quality of institutions) of MNEs' foreign cross-listings, and firm performance (ROA). The simultaneous equations model results based on a sample of 330 Triad MNEs during 2004-2006 provide fresh insights for future theory development and managerial practice. (C) 2010 Elsevier Ltd. All rights reserved.

引用

页码：531 / 547

页数：17

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