کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
10226855 | 1701311 | 2018 | 18 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Board composition, family ownership, institutional distance and the foreign equity ownership strategies of Turkish MNEs
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
کسب و کار و مدیریت بین المللی
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چکیده انگلیسی
In much of the developing world, families represent the dominant form of firm ownership. This study investigates how this influences equity ownership strategies when firms venture abroad. Drawing on agency theory and institutional theory, we investigate the direct effect of board composition and family ownership on the equity-based ownership strategies of multinational enterprises (MNEs) in their affiliates, and how institutional distance may moderate this. Examining foreign affiliates of listed Turkish MNEs, we find that a high ratio of independent directors is negatively linked to levels of equity ownership of MNE affiliates. We also find that a high ratio of inside directors on the board is positively associated with the equity stake of MNEs in their affiliates. The significant interaction effect between board composition, family ownership and institutional distance helps explain the unexpectedly weak effects of institutional distance.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of World Business - Volume 53, Issue 6, December 2018, Pages 862-879
Journal: Journal of World Business - Volume 53, Issue 6, December 2018, Pages 862-879
نویسندگان
Tulay Ilhan-Nas, Tarhan Okan, Ekrem Tatoglu, Mehmet Demirbag, Geoffrey Wood, Keith W. Glaister,