Law, finance, and the international mobility of corporate governance

Cumming, Douglas and Filatotchev, Igor and Knill, April and Reeb, David Mitchell and Senbet, Lemma (2017) Law, finance, and the international mobility of corporate governance. Journal of International Business Studies, 48 (2). pp. 123-147. ISSN 0047-2506

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We introduce the topic of this Special Issue on the "Role of Financial and Legal Institutions in International Governance", with a particular emphasis on a notion of "international mobility of corporate governance". Our discussion places the Special Issue at the intersection of law, finance, and international business, with a focus on the contexts of foreign investors and directors. Country-level legal and regulatory institutions facilitate foreign ownership, foreign directors, raising external financial capital, and international M&A activity. The interplay between the impact of foreign ownership and foreign directors on firm governance and performance depends on international differences in formal/regulatory institutions. In addition to legal conditions, informal institutions such as political connections also shape the economic value of foreign ownership and foreign directors. We highlight key papers in the literature, provide an overview of the new papers in this Special Issue, and offer suggestions for future research.

Item Type: Article
Keywords: law and finance; corporate governance; mobility; foreign investors; directors; political connections
Divisions: Departments > Welthandel > International Business
Version of the Document: Published
Depositing User: ePub Administrator
Date Deposited: 05 Sep 2017 10:05
Last Modified: 07 Sep 2017 09:21
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