A clash of governance logics: Foreign ownership and board monitoring

Kurt A. Desender, Ruth V. Aguilera, Mõnica Lõpezpuertas-Lamy, Rafel Crespi

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    127 Cites (Scopus)

    Resum

    We ask whether and when shareholder-oriented foreign owners are likely to change corporate governance logics in a stakeholder-oriented setting by introducing shareholder-oriented governance practices. We focus on board monitoring and claim that because the bundle of practices used in a stakeholder context does not protect shareholder-oriented foreign owners' interests, they seek to introduce their own practices. Our results suggest that board monitoring is only activated when shareholder-oriented foreign ownership is high and that the influence of foreign ownership is especially strong in firms without large domestic owners, with high levels of risk and poor performance.

    Idioma originalAnglès
    Pàgines (de-a)349-369
    Nombre de pàgines21
    RevistaStrategic Management Journal
    Volum37
    Número2
    DOIs
    Estat de la publicacióPublicada - 1 de febr. 2016

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