This study investigates how experience of top management teams (TMTs) influences the performance effect of added cultural distance in international expansion processes. Taking a dynamic perspective, we focus on internationalization processes and the cultural distance that is added in expansion...

We examine the determinants of Japanese foreign direct investment (FDI) focusing on institutional and social factors. Using panel data on 59 countries from 1995 to 2008, we find that host countries with free and open markets and greater cultural distance from Japan attract Japanese FDI. Good...

This study analyses the effect of board diversity (gender and nationality) on performance in banks. By making use of a sample of 159 banks in nine countries during the period 2004–2010, our empirical evidence shows that gender diversity increases bank performance, while national diversity...

Purpose – The purpose of this paper is to test two agency-based hypotheses regarding the effect of ownership concentration on dividend policy using a large sample of Japanese firms. Design/methodology/approach – Level regressions associating payout rates to ownership concentration are run....

This paper assesses conflicts of interest between banks and their client firms via the merger transaction by examining the wealth gain of merger acquirers who were listed on the Tokyo Stock Exchange in 1990–2004. The paper reports two main findings. First, acquiring firms did not gain from...

This paper employs a new scoring framework designed by the Asia Pacific Real Estate Association (APREA) to examine the link between corporate performance and quality of corporate governance among externally managed REITs listed on the Singapore Stock Exchange (S-REITs). The empirical tests...

The main purpose of this study is to investigate how organizational slack is created and how it affects a firm’s performance. To address these questions, we construct three equations: managerial incentive function, organizational slack formation function and performance function, and we apply...

The Japanese system of corporate governance andin particular the role played by banks andother financial institutions have been thesubject of considerable research andcontroversy in recent years. We estimate theimpact of equity ownership by financialinstitutions on firm performance in Japan...

This paper aims to provide the determinants of how privatization works in some selected Middle East North Africa countries. Using a sample of 75 new privatized firms we examine the performance changes in countries namely Egypt, Morocco, Tunisia and Turkey. We document a significant increase in...