The role of subsidiaries in Global Value Chains (GVCs): An institutional voids perspective on LVC upgrading and integration

Soliman, Salma; Papanastassiou, Marina; Saka‐Helmhout, Ayse

doi:10.1016/j.intman.2022.101003

Cited by 5 publications

(2 citation statements)

References 66 publications

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“…Since formal institutions are underdeveloped in emerging countries, informal institutions play a relevant role (Chen and Wu, 2023). Informal institutions, like cultural habits, are widespread and deeply rooted, which requires more relational bridging efforts (Soliman et al, 2023). Moreover, in emerging economies, firms may postpone investments due to corruption and uncertainty of political and legal decisions (Hoskisson et al, 2000).…”

Section: Emerging Market Contextmentioning

confidence: 99%

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Board diversity and systematic risk: evidence from emerging markets

Daniel‐Vasconcelos

Crisóstomo

Ribeiro

2023

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Purpose This study aims to investigate the association between board diversity and systematic risk. The theoretical framework used in this study is based on agency and resource dependency theories.Design/methodology/approach Using a panel data set of 788 firms listed in the Morgan Stanley Capital International (MSCI) Emerging Markets index from 2015 to 2020, the authors apply Panel-Corrected Standard Error estimation method to test the three proposed hypotheses and the two-stage least squares method is adopted for the endogenous test.Findings The results suggest that board-specific skills diversity (BSSD) and board independence (BIND) have a negative impact on systematic risk. On the other hand, board gender diversity does not affect systematic risk. The findings reinforce the relevance of board diversity for reducing systematic risk and offer valuable insights for policymakers and investors, suggesting that the presence of directors with specific skills and independent directors could reduce firms’ systematic risk.Research limitations/implications The study extends the scope of agency and resource dependency theories by suggesting that the BSSD and BIND reduce agency costs and bring critical resources to the firm’s survival.Practical implications The findings support policymakers and managers in reducing systematic risk. In addition, the results demonstrate the importance of policies that encourage board diversity and BIND.Social implications The study demonstrates how companies can reduce systematic risk through board diversity and BIND.Originality/value To the best of our knowledge, this is the first study to investigate the association between board diversity and systematic risk only in emerging markets.

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Section: Emerging Market Contextmentioning

confidence: 99%

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Board diversity and systematic risk: evidence from emerging markets

Daniel‐Vasconcelos

Crisóstomo

Ribeiro

2023

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The role of peripheral vendors in enhancing the absorptive capacity of offshore software development teams in challenging institutional environments

Choksy,

Zeng,

Rehman

et al. 2024

European Management Journal

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Institutional voids and new venture performance: The moderating role of founders' political ties

Tantawy,

Amankwah‐Amoah,

Puthusserry

2024

European Management Review

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Building on the institutional voids (IVs) and resource‐dependence perspectives, this study examines the moderating impact of new business founders' political ties on the relationship between IVs and new venture performance (NVP). We developed and tested a unique model using data obtained from 309 new ventures in the MENA region, specifically Egypt. The results demonstrate that founders' political ties enhance firms' complementary assets and mitigate the negative effects of IVs on NVP in developing markets. The theoretical and practical implications concerning NVP in a developing market environment are examined.

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The role of subsidiaries in Global Value Chains (GVCs): An institutional voids perspective on LVC upgrading and integration

Cited by 5 publications

References 66 publications

Board diversity and systematic risk: evidence from emerging markets

Board diversity and systematic risk: evidence from emerging markets

The role of peripheral vendors in enhancing the absorptive capacity of offshore software development teams in challenging institutional environments

Institutional voids and new venture performance: The moderating role of founders' political ties

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