The effects of the governance environment on the choice of investment mode and the strategic implications

Does the Institutional Environment Affect CSR Disclosure? The Role of Governance

“…One of the characteristics of this kind of research is that it is mainly focused on developed countries, although their institutional environments vary according to two classifications: Variety of Capitalism (VOC) (Hall & Solskic, 2001) and the Governance Index Environment (GEI ) (Li & Filer, 2007). The latter has allowed expanding the scope of research since it classifies each society either as a Rule-Based or a Relation-Based environment (Li, Park, & Li, 2004).…”

“…This is because these country's institutional environments are clearly different (Li & Filer, 2007) and because both countries have been considered pioneers or top-ranked in the reporting of CSR information (Gallego, Formigoni, & Antunes, 2014;Grecco, Filho, Segura, García, & Rodríguez, 2013;KPMG, 2013;. Additionally, according to previous empirical evidence, there are differences concerning CG mechanisms: Brazilian companies' BDs are weaker and less effective than Spanish ones (Andrés, Azofra, & Lopez, 2005;Black, Carvalho, & Gorga, 2010).…”

Information Asymmetry, Disclosure and Foreign Institutional Investment: An Empirical Investigation of the Impact of the Sarbanes-Oxley Act

“…Yet irrespective of their invaluable insights, none of these studies has specifically concentrated on the information asymmetry effects and their impact on investment decisions. In addition, the vast majority has concentrated on decisions made by firms investing into foreign countries for operational purposes (FDI) and not by institutional investors (Li & Filer, 2007). As such our understanding of how information asymmetry impacts on FII decisions and the role of corporate disclosure on their investment choices remains still unexplored.…”

“…The role of knowledge and information accessibility has already been noted in the international business literature: "Increased knowledge of a foreign country reduces both the cost and the uncertainty of operating in a foreign market, and should increase the probability of an investment being made in that country" (Benito & Gripsrud, 1992, p. 462). Surprisingly though, this body of literature has only implicitly explored the role of information asymmetry and of corporate disclosure, with most studies addressing solely one group of investors, the foreign direct investors (Li & Filer, 2007). We address this gap by concurrently examining the influence of corporate disclosure on foreign investment, and specifically on the neglected group of institutional investors.…”

The national bioenergy investment model: Technical documentation

“…The question the model seeks to answer is, which of a set of business models are likely to receive domestic investment funds or FDI, and in what quantities? In contrast, most research on FDI focuses on other factors, including: FDI flows to countries (rather than projects) (Asiedu 2002, Sethi et al 2002, Akinkugbe 2003, Ahlquist 2006, Blonigen et al 2007, Busse and Hefeker 2007, Jinjarak 2007, Lim 2008, Dippenaar 2009); mode of entry (Kogut and Nath 1988, Hennart and Park 1993, Li and Filer 2007, Li and Rugman 2007, Nocke and Yeaple 2007, Asmussen et al 2009); the impact of FDI on host countries (Jenkins 2006, Adams, 2009, Chaudhuri 2010; and the decision making process within a particular firm (Dahlquist and Robertsson 2001, Moosa 2002, White and Fan 2006, Carlesi et al 2007, Dippenaar 2009, Klier 2009, Kinda 2010. A survey of the literature on FDI identified one paper assessing the potential of projects within a portfolio to attract foreign investment (Li and Sherali 2003); however, the methodology in that paper requires detailed knowledge of the projects and is unsuitable for a simulation model.…”