The involvement of board of directors and institutional investors in investing in transition economies: An agency theory approach
We investigate the influence of the composition of the board of directors and stock ownership patterns on the decision to enter markets in Central and Eastern Europe. Our findings suggest that board composition alone does not influence the entry decision while firms with less concentrated stock ownership were more likely to enter these developing markets. We also found that while better performing firms were attracted to opportunities in Central and Eastern Europe, firms with poor prior performance and outside dominated boards were also more likely to enter these markets.
Volume (Year): 4 (1998)
Issue (Month): 4 (December)
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/601266/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/journaldescription.cws_home/601266/bibliographic|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Manijeh Sabi, 1988. "An Application of the Theory of Foreign Direct Investment to Multinational Banking in LDCs," Journal of International Business Studies, Palgrave Macmillan, vol. 19(3), pages 433-447, September.
- Karin Fladmoe-Lindquist & Laurent L. Jacque, 1995. "Control Modes in International Service Operations: The Propensity to Franchise," Management Science, INFORMS, vol. 41(7), pages 1238-1249, July.
- Franklin R Root & Ahmed A Ahmed, 1978. "The influence of policy instruments on manufacturing Direct Foreign investment in developing countries," Journal of International Business Studies, Palgrave Macmillan, vol. 9(3), pages 81-94, September.
- David W Loree & Stephen E Guisinger, 1995. "Policy and Non-Policy Determinants of U.S. Equity Foreign Direct Investment," Journal of International Business Studies, Palgrave Macmillan, vol. 26(2), pages 281-299, June.
- Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
- Hughes, John S. & Logue, Dennis E. & Sweeney, Richard James, 1975. "Corporate International Diversification and Market Assigned Measures of Risk and Diversification," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 10(04), pages 627-637, November.
- Rolf Mirus & Bernard Yeung, 1986. "Economic Incentives for Countertrade," Journal of International Business Studies, Palgrave Macmillan, vol. 17(3), pages 27-39, September.
- David J Sharp & Stephen B Salter, 1997. "Project Escalation and Sunk Costs: A test of the International Generalizability of Agency and Prospect Theories," Journal of International Business Studies, Palgrave Macmillan, vol. 28(1), pages 101-121, March.
- Robert M Grant, 1987. "Multinationality and Performance among British Manufacturing Companies," Journal of International Business Studies, Palgrave Macmillan, vol. 18(3), pages 79-89, September.
- Kenneth A. Froot, 1994. "Foreign Direct Investment in Eastern Europe: Some Economic Considerations," NBER Chapters, in: The Transition in Eastern Europe, Volume 2: Restructuring, pages 293-318 National Bureau of Economic Research, Inc.
- J Markham Collins, 1990. "A Market Performance Comparison of U.S. Firms Active in Domestic, Developed and Developing Countries," Journal of International Business Studies, Palgrave Macmillan, vol. 21(2), pages 271-287, June.
- Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-25, June.
When requesting a correction, please mention this item's handle: RePEc:eee:intman:v:4:y:1998:i:4:p:337-351. See general information about how to correct material in RePEc.
If references are entirely missing, you can add them using this form.