Law, Finance, and the International Mobility of Corporate Governance

Journal of International Business Studies, Forthcoming

Robert H. Smith School Research Paper No. RHS 2905710

44 Pages Posted: 27 Jan 2017 Last revised: 12 Mar 2017

See all articles by Douglas J. Cumming

Douglas J. Cumming

Florida Atlantic University

Igor Filatotchev

City University London - Sir John Cass Business School

April M. Knill

Florida State University College of Business; Florida State University - College of Law

David M. Reeb

National University of Singapore

Lemma W. Senbet

University of Maryland - Robert H. Smith School of Business

Date Written: December 20, 2016

Abstract

We introduce the topic of this special issue on the “Role of Financial and Legal Institutions in International Governance”, with a particular emphasis on a notion of “international mobility of corporate governance”. Our discussion places the special issue at the intersection of law, finance, and international business, with a focus on the contexts of foreign investors and directors. Country-level legal and regulatory institutions facilitate foreign ownership, foreign directors, raising external financial capital, and international M&A activity. The interplay between the impact of foreign ownership and foreign directors on firm governance and performance depends on international differences in formal/regulatory institutions. In addition to legal conditions, informal institutions such as political connections also shape the economic value of foreign ownership and foreign directors. We highlight key papers in the literature, provide an overview of the new papers in this special issue, and offer suggestions for future research.

Keywords: Law and Finance, Corporate Governance, Mobility, Foreign Investors, Directors, Political Connections

JEL Classification: F20, F30, G30

Suggested Citation

Cumming, Douglas J. and Filatotchev, Igor and Knill, April M. and Reeb, David M. and Senbet, Lemma W., Law, Finance, and the International Mobility of Corporate Governance (December 20, 2016). Journal of International Business Studies, Forthcoming; Robert H. Smith School Research Paper No. RHS 2905710. Available at SSRN: https://ssrn.com/abstract=2905710

Douglas J. Cumming (Contact Author)

Florida Atlantic University ( email )

777 Glades Rd
Boca Raton, FL 33431
United States

HOME PAGE: http://booksite.elsevier.com/9780124095373/

Igor Filatotchev

City University London - Sir John Cass Business School ( email )

106 Bunhill Row
London, EC1Y 8TZ
United Kingdom

April M. Knill

Florida State University College of Business ( email )

Tallahassee, FL 32306-1042
United States
(850) 644-2047 (Phone)

Florida State University - College of Law ( email )

425 W. Jefferson Street
Tallahassee, FL 32306
United States

David M. Reeb

National University of Singapore ( email )

Mochtar Riady Building
15 Kent Ridge Drive
Singapore, 119245
Singapore

HOME PAGE: http://www.davidreeb.net

Lemma W. Senbet

University of Maryland - Robert H. Smith School of Business ( email )

College Park, MD 20742-1815
United States
301-405-2242 (Phone)
301-405-0359 (Fax)

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
143
Abstract Views
597
rank
210,866
PlumX Metrics