Foreign Investment
Working Paper
Cross-Border Venture Capital Investments: What Is the Role of Public Policy?
Cross-border venture capital (VC) investments play an important role in the scaling up of high-growth companies. However, policymakers worry that foreign VC investments transfer the majority of economic activity to the investor country. On the...Read more
A Financial Force to be Reckoned With? An Overview of Sovereign Wealth Funds
Sovereign Wealth Funds (SWFs) represent a new form of investment organizational structure and have grown to over $5.7 trillion assets under management by February 2016, making them a financial force potentially worth reckoning with in...Read more
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
Mergers, Acquisitions and Restructuring: Types, Regulation, and Patterns of Practice
An important component of corporate governance is the regulation of significant
transactions ? mergers, acquisitions, and restructuring. This paper (a chapter in Oxford
Handbook on Corporate Law and Governance, forthcoming) reviews...Read more
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
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
Financial Integration and Firm Performance: Evidence from Foreign Bank Entry in Emerging Markets
While the positive growth effects of financial integration are extensively documented, little is known of its impact on small and young firms. This paper aims to fill this void relying on a panel of 60,000 firm-year observations on listed and...Read more