Institutional theory has usually been associated with path dependence and inertia. In international corporate governance, it has been used as an explanation for the supposed continued divergence of national systems. Recent developments in institutional theory, however, identify the circumstances...

Integrating agency and institutional theories, this paper examines the impact of top-executive compensation and regional institutions on the outward FDI(OFDI) of a sample of Chinese-listed firms. The results show that top-executive cash pay and equity ownership have a positive association with...