Do Returnee CEOs Transfer Institutions? Evidence from Newly Public Chinese Entrepreneurial Firms

Cumming, Douglas J.; Duan, Tinghua; Hou, Wenxuan; Rees, Bill

doi:10.2139/ssrn.2780680

Cited by 5 publications

(2 citation statements)

References 52 publications

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“…MNCs can export monitoring technology and similar practices across national borders, and CEOs that have experience in foreign countries with stronger institutional environments may transfer knowledge about good governance (Cumming, Duan, Hou, & Rees, 2015). Generally, internal control systems and processes can be learned, therefore they are transferable/exportable, particularly in the context of emerging markets (Hoskisson, Eden, Lau, & Wright, 2000;John & Senbet, 1998).…”

Section: Mobility Of Governancementioning

confidence: 99%

Law, finance, and the international mobility of corporate governance

et al. 2017

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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.

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Section: Mobility Of Governancementioning

confidence: 99%

Law, finance, and the international mobility of corporate governance

et al. 2017

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“…Returnee entrepreneurs are vital to the economic development of their home countries (Kenney et al, 2013; Kerr, 2018; Saxenian, 2006). Returnee‐owned firms have unique advantages when it comes to innovation and growth (Cumming, Duan, Hou, & Rees, 2016; Filatotchev, Liu, Buck, & Wright, 2009; Li et al, 2012). As a result, in some countries, returnee entrepreneurs are strategic components of state‐led plans for “regional upgrading” (Bussgang & Stern, 2015; Jonkers, 2008; Saxenian, 2006).…”

Section: Resultsmentioning

confidence: 99%

When do return migrants become entrepreneurs? The role of global social networks and institutional distance

Wang

2020

Strategic Entrepreneurship

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Research Summary: Does embeddedness in global social networks elevate or diminish individuals' propensity to found new ventures? I analyze entrepreneurial entry among a large, cross-country sample of skilled return migrants, all of whom had worked abroad in the United States before returning to 98 different home countries. My findings reveal that maintaining stronger cross-border social ties-that is, relationships to former colleagues abroad-leads returnees to be more likely to found new ventures in their homelands. However, the positive effects of cross-border social ties diminish with greater institutional distance between the returnee's home country and the United States. The findings have implications for research at the intersection of social networks, international migration, and entrepreneurship. Managerial Summary: When it comes to founding a venture, social networks are often critical in helping prospective entrepreneurs identify new market opportunities and resources. Which types of networks are most beneficial in helping people become entrepreneurs, however, still remains a question. This paper asks whether having social connections to individuals across countries makes one more likely to become an entrepreneur, and if so why? Studyingskilled return migrants, I find that returnees who maintain stronger social ties to those they met while working abroad are more likely to start companies, but only if there is sufficient similarity between the market environments of the

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Do Board Secretaries Influence Management Earnings Forecasts?

Duan

Hou

2017

J Bus Ethics

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The role of board secretaries is a unique institutional feature in China. Individuals in this senior executive role are responsible for coordinating information disclosure. We study the impact of board secretaries on management earnings forecasts and find that their legal expertise, accounting expertise and foreign experience help improve management earnings forecast quality. The quality of forecasts, as indicated by their occurrence, frequency, precision and accuracy, is also positively associated with the role duality (e.g. board director, CFO or other senior executive role) and equity holdings of board secretaries and negatively associated with their political connection. The quality of forecasts is found to increase the compensation of board secretaries. Finally, we show that the equity holding of board secretaries reduces litigation risks and increases corporate philanthropic giving.

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Do Returnee CEOs Transfer Institutions? Evidence from Newly Public Chinese Entrepreneurial Firms

Cited by 5 publications

References 52 publications

Law, finance, and the international mobility of corporate governance

Law, finance, and the international mobility of corporate governance

When do return migrants become entrepreneurs? The role of global social networks and institutional distance

Do Board Secretaries Influence Management Earnings Forecasts?

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