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The governance impact of a changing investor landscape

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dc.affiliation.dptoUC3M. Departamento de Economía de la Empresaes
dc.contributor.authorAguilera Vaques, Ruth
dc.contributor.authorDesender, Kurt
dc.contributor.authorLópez-Puertas, Mónica
dc.contributor.authorLee, Junho
dc.date.accessioned2022-06-24T14:24:18Z
dc.date.available2022-06-24T14:24:18Z
dc.date.issued2017-02-01
dc.description.abstractWithin the backdrop of comparative corporate governance research, we draw on the managerial reporting and impression management literatures to examine how the type, level, and nature of foreign shareholders, infused with their own governance logic, influence initial managerial earnings optimism and how foreign ownership shapes earnings guidance in a stakeholder-oriented setting. Drawing on Japanese data, and addressing endogeneity concerns, our results show that under the presence of foreign owners, managers are more optimistic in their initial earnings forecasts, but that in subsequent revisions they are more likely to provide timely adjustments of their earnings forecast and avoid making last-minute adjustments. This research illustrates how foreign practices travel across borders and contributes to understanding triggers to governance and strategic changes.en
dc.identifier.bibliographicCitationAguilera, R. V., Desender, K. A., Lamy, M. L.-P., & Lee, J. H. (2016). The governance impact of a changing investor landscape. Journal of International Business Studies, 48 (2), pp. 195-221.es
dc.identifier.doihttps://doi.org/10.1057/s41267-016-0043-y
dc.identifier.issn0047-2506
dc.identifier.publicationfirstpage195es
dc.identifier.publicationissue2es
dc.identifier.publicationlastpage221es
dc.identifier.publicationtitleJOURNAL OF INTERNATIONAL BUSINESS STUDIESen
dc.identifier.publicationvolume48es
dc.identifier.urihttps://hdl.handle.net/10016/35283
dc.identifier.uxxiAR/0000019595
dc.language.isoenges
dc.publisherPalgrave Macmillanes
dc.publisherAcademy of International Businessen
dc.rights© 2016 Academy of International Businessen
dc.rights.accessRightsopen accesses
dc.subject.ecienciaEconomíaes
dc.subject.ecienciaEmpresaes
dc.subject.otherComparative corporate governanceen
dc.subject.otherForeign ownershipen
dc.subject.otherManagement reportingen
dc.subject.otherComparative accounting systems and practicesen
dc.subject.otherInstitutionalismen
dc.titleThe governance impact of a changing investor landscapeen
dc.typeresearch article*
dc.type.hasVersionAM*
dspace.entity.typePublication
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