TY - JOUR
T1 - Outward foreign direct investment of publicly listed firms from China
T2 - A corporate governance perspective
AU - Hu, Helen Wei
AU - Cui, Lin
PY - 2014/8
Y1 - 2014/8
N2 - This study examines the influence of key corporate governance factors on the internationalization decisions of emerging economy (EE) firms. By integrating the resource-based view and agency theory, it investigates the effects of controlling owner identity, non-controlling shareholder ownership, and the interactions of these with CEO power, in order to reveal their individual and joint effects on the outward foreign direct investment (OFDI) propensity of EE firms. This empirical study of 224 Chinese publicly listed firms found positive effects of ownership of domestic institutional investors and foreign corporations on the OFDI propensity of the firms, which were moderated by the power of the CEOs in these firms.
AB - This study examines the influence of key corporate governance factors on the internationalization decisions of emerging economy (EE) firms. By integrating the resource-based view and agency theory, it investigates the effects of controlling owner identity, non-controlling shareholder ownership, and the interactions of these with CEO power, in order to reveal their individual and joint effects on the outward foreign direct investment (OFDI) propensity of EE firms. This empirical study of 224 Chinese publicly listed firms found positive effects of ownership of domestic institutional investors and foreign corporations on the OFDI propensity of the firms, which were moderated by the power of the CEOs in these firms.
KW - China
KW - Corporate governance
KW - EE firms
KW - Internationalization
UR - http://www.scopus.com/inward/record.url?scp=84902360711&partnerID=8YFLogxK
U2 - 10.1016/j.ibusrev.2013.11.003
DO - 10.1016/j.ibusrev.2013.11.003
M3 - Article
SN - 0969-5931
VL - 23
SP - 750
EP - 760
JO - International Business Review
JF - International Business Review
IS - 4
ER -