National Changhua University of Education Institutional Repository : Item 987654321/13901
English  |  正體中文  |  简体中文  |  全文笔数/总笔数 : 6507/11669
造访人次 : 30050793      在线人数 : 696
RC Version 3.2 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜寻范围 进阶搜寻

jsp.display-item.identifier=請使用永久網址來引用或連結此文件: http://ir.ncue.edu.tw/ir/handle/987654321/13901

题名: International Diversification and Conference Calls: Legal System and Ownership Structure
作者: Chin, Chen-lung;Chen, Yu-Ju
贡献者: 商業教育系
关键词: Internationalization;Conference calls;Control rights;Legal system
日期: 2009-08
上传时间: 2012-08-27T11:33:36Z
摘要: A firm's international diversification is one potentially important strategy to follow in pursuit of growth in merging markets as well as developed countries. This paper explores the impact of international diversification on the decision to hold conference calls. Next, we examine if the mitigating roles of agency problems and firm' choice of a higher proportion of common law countries in holding conference calls. The agency problems is proxied by the divergence between controlling owner's control and cash rights; the internationalization is measured by the ratio of foreign assets to total assets, foreign operational country scope, and by the number of foreign investees, respectively. Using a sample drawn from Taiwan, we find that greater corporate internationalization is associated with a higher likelihood of holding conference calls. We also find that firms can enhance the positive effects of internationalization on conference calls likelihood by reducing control divergence of controlling owners or investing in a higher proportion of common law countries where there is a better investor legal protection environment and higher information transparency. Finally, we find that in addition to stock pyramids and cross-ownership structures, managers of internationally diversified firms use stock collateral to leverage their control rights, which exacerbates agency problem and lead to a lower likelihood of holding conference calls.
關聯: American Accounting Association 2009 Annual Meeting, August 1-5, 2009
显示于类别:[商業教育學系] 會議論文

文件中的档案:

档案 大小格式浏览次数
2030300716004.pdf106KbAdobe PDF488检视/开启


在NCUEIR中所有的数据项都受到原著作权保护.

 

DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - 回馈