Top executive compensation, regional institutions and Chinese OFDI

By Xiaohui Liu, Jiangyong Lu, A. Chizema. 2014

117 citations recorded by the source corpus.

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 OFDI. Differing from previous studies focusing on cross-country institutional variances, we take variations in within-country institutions into account and find that regional institutions in terms of product markets, factor markets and legal systems play an important role in OFDI and positively moderate the governance role of managerial equity ownership.

Subfields: Accounting, Economics and Econometrics, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/ff5219a4227ebcc14481020cef8905e369831675

Citations in the corpus

• Institutional open access at home and outward internationalization (2015, unknown): “These regional differences enable us to examine the impact of differences of institutional open access within a country (Gao et al., 2010; Liu et al., 2014).”