Starjournal Quotation Bell, R., Moore, C., Filatotchev, Igor, Rasheed, A . 2012. Foreign IPO capital market choice: understanding the institutional fit ofcorporate governance. Strategic Management Journal, 33 (8), 914-937.


RIS


BibTeX

Abstract

While product market choices have been central to strategy formulation for firms in the past, the integration of financial markets makes the choice of capital markets an equally important strategic decision. We advance a comparative institutional perspective to explain capital market choice by firms making an IPO in a foreign market. We find that internal governance characteristics (founder‐CEO, executive incentives, and board independence) and external network characteristics (prestigious underwriters, degree of venture capitalist syndication, and board interlocks) are significant predictors of foreign capital market choice by foreign IPO firms. Our results suggest foreign IPO firms select a host market where the firms' governance characteristics and third party affiliations fit the host market's institutional environment.

Tags

Press 'enter' for creating the tag

Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Strategic Management Journal
Citation Index SSCI
WU Journalrating 2009 A+
Starjournal Y
Language English
Title Foreign IPO capital market choice: understanding the institutional fit ofcorporate governance
Volume 33
Number 8
Year 2012
Page from 914
Page to 937
Reviewed? Y
DOI http://dx.doi.org/10.1002/smj.1953
Open Access N

Associations

People
Filatotchev, Igor (Details)
External
Bell, R.
Moore, C.
Rasheed, A
Organization
Competence Center for Emerging Markets and CEE WE (Details)
Institute for International Business (Dikova) (Details)
Institute for International Business IN (Details)
Google Scholar: Search