Performance, diversity, and multiplicity of foreign cross-listing portfolios
We analyze an underrepresented area in the international business (IB) and finance literatures: the simultaneous effects of multinational enterprises' (MNEs) portfolios of foreign cross-listings' and firm performance. We build on the literatures of multinationality-performance in the IB field and foreign cross-listings in the international finance domain. We advance a theoretical framework of the simultaneous relationships among multiplicity of MNEs' foreign cross-listings (number of foreign stock exchanges), diversity (dispersion of the host countries' quality of institutions) of MNEs' foreign cross-listings, and firm performance (ROA). The simultaneous equations model results based on a sample of 330 Triad MNEs during 2004-2006 provide fresh insights for future theory development and managerial practice.
Year of publication: |
2010
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Authors: | Banalieva, Elitsa R. ; Robertson, Christopher J. |
Published in: |
International Business Review. - Elsevier, ISSN 0969-5931. - Vol. 19.2010, 6, p. 531-547
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Publisher: |
Elsevier |
Keywords: | Foreign cross-listing portfolios Internationalization Institutional theory MNEs |
Saved in:
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