The Value of Internationalization for Emerging Market Firms - Family versus Non-Family firms

被引：0
|
作者：
Hsu, Chih-Hsiang [1 ]
Kao, Ming-Sung [2 ]
Lee, Lee-Men [3 ]
机构：
[1] Ming Chuan Univ, Dept Finance, Taipei, Taiwan
[2] Fu Jen Catholic Univ, Dept Int Trade & Finance, New Taipei, Taiwan
[3] Fu Jen Catholic Univ, Dept Business Adm, New Taipei, Taiwan
来源：
ECONOMICS BULLETIN | 2016年 / 36卷 / 02期
关键词：
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines how the market responses to emerging market firms' internationalization. Using the sample of 638 Taiwanese multinational firms, the result shows that the firm value decreases with its overseas assets whereas the negative impact is significantly weaker for the family firms than non-family firms. When analysing only family firms further, controlling families with high deviations of cash flow and control righ will be associated with lower value than normal family firms.
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页码：1214 / +
页数：10
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