European regulators are concerned that US-based proxy advisors might export US corporate governance by not considering sufficiently the unique aspects of the local setting. In contrast, local proxy advisors are expected to have a deeper understanding of the local setting. Using the German...

We examine whether an anticipated reduction in future repatriation taxes affects the amount of cash U.S. multinationals hold overseas. We find that the expected benefits of a repatriation tax reduction are positively associated with accelerated accumulations of global cash holdings once Congress...

We use a hand-collected data set of firm-level foreign direct investment in China to examine the impact of home countries' institutional elements on the investment co-movement between foreign and domestic firms. We find that foreign firms from countries with well-developed financial markets or a...

Over the period 1980-2007 multinational firms' investment grew four times faster than worldwide GDP. Yet the evidence on whether global diversification is valuable is inconclusive. This paper uses detailed FDI data for 251 UK multinational firms and 4,676 subsidiaries to show that multinational...

This research explores whether internationalization and the foreignness of the board of directors, two important international forces, motivate firms to issue sustainability reports in the context of Vietnam, a developing country. This study uses pooled and fixed effect multinomial logit...

This paper studies the ways in which the geographic locations of a firm's foreign operations affect the appointment and effectiveness of foreign directors. Using country-level data on firm internationalization and board foreignness, we find that firms with more foreign subsidiaries in a region...