Because stock markets in emerging economies are relatively new, under-regulated, and often segmented, investors' responses to public announcements by firms in these economies may differ from responses in developed economies' stock markets. We draw on the institutional and corporate governance...

Prior studies have found that foreign affiliates of multinational enterprises (MNEs) suffer from liability of foreignness (LOF). Foreign affiliates may be able to improve their social legitimacy and overcome LOF by demonstrating social commitment to host country constituents through corporate...

Combining foreign direct investment theory with data on 32 countries from the Federal Reserve Board, the study examines U.S. banks' patterns of foreign operations, including their levels of banking services and choice of organizational forms in host countries. Results generally supported...