Cross-listing, segmentation and foreign ownership restrictions

1998 ◽  
pp. 175-192
Author(s):  
Ian Domowitz ◽  
Jack Glen ◽  
Ananth Madhavan
Keyword(s):  
Foreign Ownership ◽  
Cross Listing

Financial internationalization of emerging country multinationals: evidence from India

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mariam Jamaleh ◽  
Abha Shukla
Keyword(s):  
Foreign Ownership ◽  
Independent Directors ◽  
Firm Level ◽  
Advanced Country ◽  
Content Type ◽  
Study Approach ◽  
Cross Listing ◽  
Emerging Country ◽  
Financial Internationalization ◽  
The Impact

Purpose Financial internationalization is of particular importance to emerging country firms. Its significance arises from the impact of institutional void and related agency problems (common to emerging markets) on the internationalization path of these firms. Building on concepts from international finance, agency theory and institutional theory, this paper aims to examine the main aspects of financial internationalization by emerging country multinationals, namely, cross-listing, foreign ownership and foreign independent directors. Design/methodology/approach This paper follows a multiple case study approach which is a good fit for the exploratory nature of this research. The interest is to examine the context-driven financial internationalization of each case firm and replicate the firm-level information to find a common strategy. Findings The findings suggest that financial internationalization by emerging country multinationals starts mainly as these firms plan to enter advanced country markets. It is a dynamic process that entails interaction between financial internationalization and real internationalization, as well as among different aspects of financial internationalization. Cross-listing comprises the first stage of the process. Then, foreign ownership, particularly foreign institutional investments, would increase gradually in response to advances in financial and factor markets. Recruiting foreign independent directors seems to be adopted last, possibly out of fear of losing control of strategic decisions. Originality/value This paper presents a unique perspective that delineates different stages of the process of financial internationalization by emerging country multinationals. This complements the efforts to explain the distinct path of internationalization followed by these firms and supplements scarce literature by including emerging multinationals from India where the matter has not yet attracted proper attention.

The Impact of Foreign Ownership on Corporate Philanthropy in Korea

2018 ◽  
Vol 21 (2) ◽  
pp. 135-163
Author(s):  
Jonghoon Nam ◽  
David Yong Ko ◽  
Mugoan Jeong
Keyword(s):  
Corporate Philanthropy ◽  
Foreign Ownership ◽  
The Impact

Identifying foreign firms and South African multinational enterprises: CIT-IRP5 panel v4.0

2021 ◽  
Author(s):  
Michael Kilumelume ◽  
Hayley Reynolds ◽  
Amina Ebrahim
Keyword(s):  
South African ◽  
Multinational Enterprises ◽  
Foreign Ownership ◽  
Technical Note ◽  
Foreign Firms ◽  
The Creation

The identification of foreign firms and South African multinational enterprises (MNEs) in the CIT-IRP5 panel has proved to be a challenge for many researchers. The CIT-IRP5 panel contains variables indicating different thresholds that determine foreign ownership. The dataset also has variables that researchers can use to identify South African MNEs. Using the approaches employed by researchers who have attempted to identify foreign firms and South African MNEs in the data, four foreign firms and MNE indicators have been added to the CIT-IRP5 panel v4.0. This technical note documents the approach followed in the creation of each indicator. This note also highlights the possible company classifications in the data and fields on the ITR14 form that can be used to identify these classifications.

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