Strategic and institutional effects on foreign IPO performance: Examining the impact of country of origin,corporate governance,and host country effects |
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| Authors: | R Greg Bell Curt B Moore Igor Filatotchev |
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| Institution: | 1. Graduate School of Management, University of Dallas, Irving, TX 75062, United States;2. MJ Neeley School of Business, Texas Christian University, TCU Box 298530, Fort Worth, TX 76129, United States;3. Sir John Cass Business School, City University London, 106 Bunhill Row, London EC1Y 8TZ, United Kingdom;4. Economics University of Vienna, Institute for International Business, Department of Global Business and Trade, Althanstraße 51, A-1090 Vienna/Austria |
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| Abstract: | Integrating signaling and institutional perspectives, we develop and test hypotheses relating institutions and corporate governance to foreign IPO success. Our investigation highlights the importance of three important drivers of foreign IPO success: home country legal institutions, corporate governance, and host capital market choice. This research demonstrates that board independence and country of origin effects are powerful signals. However, these factors do not have a universal impact on foreign IPO success. Instead, the value of home country institutions along with corporate governance signals are contingent upon the institutional environment in which international entrepreneurs choose to seek capital resources. |
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| Keywords: | IPO Corporate governance Signaling theory Institutional theory |
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