Information asymmetry, cross-listing, and post-M&amp;A performance

Song, Sangcheol; Zeng, Yuping; Zhou, Bing

doi:10.1016/j.jbusres.2020.08.035

Cited by 36 publications

(19 citation statements)

References 99 publications

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“…Foreign board members may also provide expertise in terms of how to signal organisational virtue through rhetoric in foreign IPO prospectuses (Payne et al, 2013). Moreover, firms can leverage board member network relationships to address the information asymmetries associated with foreign listing (Chen et al, 2016;Shin et al, 2016;Song et al, 2021), such as finding reliable foreign brokers and underwriters. Hearn (2015), for example, analysed 202 African IPO joint ventures and found that the more social elites are involved on corporate boards, the greater the likelihood of a successful IPO of African international joint ventures.…”

Section: Early Foreign Listing Foreign Board Membership and Profitabi...mentioning

confidence: 99%

Competence and enterprise of management as drivers of early foreign listing of medium-sized emerging market multinationals (EMNEs) from Africa

Adams

Attah‐Boakye

et al. 2023

Journal of Business Research

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Section: Early Foreign Listing Foreign Board Membership and Profitabi...mentioning

confidence: 99%

Competence and enterprise of management as drivers of early foreign listing of medium-sized emerging market multinationals (EMNEs) from Africa

Adams

Attah‐Boakye

et al. 2023

Journal of Business Research

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“…We construct our sample for testing our hypotheses from Thompson Reuters's SDC Platinum database similar to other recent studies (e.g., Kim & Jin, 2017;Song, Zeng, & Zhou, 2021).…”

Section: Samplementioning

confidence: 99%

The acquisition of capabilities: How firms use dynamic and ordinary capabilities to manage uncertainty

Irwin

Gilstrap

Drnevich

et al. 2022

Journal of Management & Organization

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How organizations utilize capabilities to achieve competitive advantage and improve performance has received an abundance of scholarly attention. Both ordinary and dynamic capabilities (DC) enable organizations to achieve higher performance when leveraged appropriately and under favorable conditions. The complexity of an organization's motives for why and how different capabilities are acquired drives us further to explore what complementarities organizations might achieve and under what contexts. Specifically, we explore how firms engaging in mergers and acquisitions (M&A) to acquire dynamic and/or ordinary capabilities experience different market reactions and levels of short- and long-run value creation given environmental uncertainty. Our results support the acquisition of ordinary capabilities for predicting positive short-term market reactions and of DC for longer-run firm performance post-M&A, with uncertainty factors moderating these relationships. We discuss both the theoretical and practical implications of uncertainty and acquisitions of these capabilities and offer suggestions for future research.

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“…The loan recourse arrangement requires collateral that often constrains trade financing especially for those businesses that lack the appropriate collaterals thereby slowing down trade. Also, it is suggested that credit constraint is a principal factor that inhibits a firms' ability to participate in international trade [57] and for small and medium-sized enterprises to take advantage of growth opportunities [58].…”

Section: Credit Creation and Financial Inclusionmentioning

confidence: 99%

A critical review of information asymmetry in the business cycle: How digital ledger technology can transform and sustain the business cycle

Susan

Natu

2022

PLOS Sustain Transform

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Distributed ledger technology (DLT) is a disruptive technology with the potential to reengineer the entire trading cycle by alleviating inefficiencies such as time lags, multiple record keeping, human errors, and transparency common with the traditional trade cycle. This study evaluates the potential benefits of DLT in mitigating information asymmetry in trading relationships and how a DLT model can be deployed to revamp the trading process. We find that information friction results from differences in stakeholder preferences by identifying and categorizing information friction into 4 groups through a review of key studies in leading management journals. This finding aligns with conclusions reached in scientific research that the benefits of DLT prevail in markets with imperfect information. In addition, we illustrate the potential benefits of DLT in mitigating inefficiencies in trading relationships resulting from information asymmetry. The article concludes with a word of caution for potential users to take gradual steps of adoption to keep pace with changing technology so as not to become laggards.

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Information asymmetry, cross-listing, and post-M&A performance

Cited by 36 publications

References 99 publications

Competence and enterprise of management as drivers of early foreign listing of medium-sized emerging market multinationals (EMNEs) from Africa

Competence and enterprise of management as drivers of early foreign listing of medium-sized emerging market multinationals (EMNEs) from Africa

The acquisition of capabilities: How firms use dynamic and ordinary capabilities to manage uncertainty

A critical review of information asymmetry in the business cycle: How digital ledger technology can transform and sustain the business cycle

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