Foreign Investment

Working Paper

Are Foreign Investors Locusts? The Long-Term Effects of Foreign Institutional Ownership

This paper challenges the view that foreign investors lead firms to adopt a short-term orientation and forgo long-term investment. Using a comprehensive sample of publicly listed firms in 30 countries over the 2001-2010 period, we find instead...Read more

Miguel Ferreira
Pedro Matos
01 August 2016

The Diffusion of Corporate Governance to Emerging Markets: Evaluating Two Dimensions of Investor Heterogeneity

This paper investigates whether foreign institutional investors in emerging markets can
enhance shareholder value. We pay special attention to two dimensions of investor
heterogeneity: whether an investor declares itself as an...Read more

Woochan Kim
01 May 2014

International Corporate Governance Spillovers: Evidence from Cross-Border Mergers and Acquisitions

We test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data from 64 countries during the period 2005-2014, we find that cross-border M&A activity is associated with...Read more

Rui Albuquerque
Miguel Ferreira
Pedro Matos
01 January 2014