The governance impact of a changing investor landscape

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Show simple item record Aguilera Vaques, Ruth Desender, Kurt López-Puertas, Mónica Lee, Junho 2022-06-24T14:24:18Z 2022-06-24T14:24:18Z 2017-02-01
dc.identifier.bibliographicCitation Aguilera, 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.
dc.identifier.issn 0047-2506
dc.description.abstract Within 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.
dc.language.iso eng
dc.publisher Palgrave Macmillan
dc.publisher Academy of International Business
dc.rights © 2016 Academy of International Business
dc.subject.other Comparative corporate governance
dc.subject.other Foreign ownership
dc.subject.other Management reporting
dc.subject.other Comparative accounting systems and practices
dc.subject.other Institutionalism
dc.title The governance impact of a changing investor landscape
dc.type article
dc.subject.eciencia Economía
dc.subject.eciencia Empresa
dc.rights.accessRights openAccess
dc.type.version acceptedVersion
dc.identifier.publicationfirstpage 195
dc.identifier.publicationissue 2
dc.identifier.publicationlastpage 221
dc.identifier.publicationvolume 48
dc.identifier.uxxi AR/0000019595
dc.affiliation.dpto UC3M. Departamento de Economía de la Empresa
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