Strategic and institutional effects on foreign IPO performance : Examining the impact of country of origin, corporate governance, and host country effects

Moore, Curt B. and Bell, R. Greg and Filatotchev, Igor (2012) Strategic and institutional effects on foreign IPO performance : Examining the impact of country of origin, corporate governance, and host country effects. Journal of Business Venturing, 27 (2). pp. 197-216. ISSN 0883-9026

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Abstract

By integrating signaling research with an institutional perspective we examine how country of origin, corporate governance, and host market effects impact foreign IPO performance. Using a sample of 202 foreign IPOs listed in the U.S. or U.K in 2002-2007 results indicate both the legal environment surrounding these organizations in their countries of origin and board independence impact the success of foreign firms at IPO. However, the institutional environment of the chosen IPO market impacts the salience of country and corporate governance signals for foreign IPO firms suggesting a more contextualized framework of IPO valuation is necessary.

Item Type: Article
Additional Information: To see the final version of this paper please visit the publisher's website. Access to the published version requires a subscription. The definitive version is available at www.elsevier.com.
Keywords: IPO / corporate governance / signaling theory / institutional theory
Divisions: Departments > Welthandel > International Business
Version of the Document: Submitted
Variance from Published Version: Minor
Depositing User: Dissertation Administrator
Date Deposited: 28 Mar 2012 14:46
Last Modified: 15 Sep 2017 12:00
Related URLs:
FIDES Link: https://bach.wu.ac.at/d/research/results/58184/
URI: https://epub.wu.ac.at/id/eprint/3484

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